EXCLUSIVE: The Apple Watch opportunity

Global SourcesUpdated on 2023/12/01

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EXCLUSIVE: The Apple Watch opportunity

With Apple's stylish community, bands and charging accessories may be particularly in demand.

September 22, 2014

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With Apple's stylish community, bands and charging accessories may be particularly in demand.

iDevice accessory makers have made their mark with innovative and stylish cases for Apple's style-centric users community. So how do current accessory suppliers adapt to the requirements of the new Apple Watch and its niche? Watches don’t need cases. The Apple Watch may or may not need a screen protector due to its Sapphire glass screen.

They do need bands, however, and chargers for the Apple Watch and other smart watches will also be accessorized. For example, Pad & Quill, an accessory maker who makes high-end leather cases and bags for tablets and smartphones, is already considering making leather or wood valet holders for the Apple Watch and its charging stand.

Other manufacturers are considering making high-end leather, metal, or wood bands for the watch, but there is also a significant opportunity for less-expensive watch bands. For example, an Apple Watch wearer may want to swap out their nice leather or metal band for a silicone one before they exercise. They may want to complement that band with their exercise clothing as well, preferring several bands in various colors.

Therefore, the opportunity is to provide a watch band that can be swapped out with less fuss and is inexpensive enough for a regular consumer to have several of them at an affordable price. According to Tim Barrett, a research analyst at Euromonitor, there were 32 million regular watches sold in 2013 in the US alone, compared with less than a million sales of smart watches. While the market opportunity in the short term for the Apple Watch and its competitors won’t hit that level any time soon, the opportunity is clearly there, and innovative and personalized bands can make their mark.

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