Fitbit's Aim to Bring Wearables to New Consumers
With the release of a new range of cheaper wearable products, Fitbit is aiming to encourage a greater number of consumers to begin using a wearable. The company is looking to attract more consumers to its 27 million worldwide customer base by diversifying its offering, with the aim of increasing both the total addressable market for the devices and its market share of wearables. By offering a cheaper range of devices, Fitbit expects to encourage a greater number of consumers to purchase their first device, with the potential to then upgrade to a more expensive device with a larger number of features in the future.
Wearable vendors, such as Fitbit, often update their offerings with different devices to ensure they are adopted by a wide range of consumers, catering to those who require smartphone notifications, healthcare monitoring, waterproofing, and more. Having a range of devices allows a company to offer relatively cheaper devices in its p...
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