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Wearables market up 231% in 1st quarter, says IDC

The sale of devices in the first quarter generated revenue of R $ 438 million, an increase of 231% over the same period last year

The sale of devices in the first quarter generated revenue of R $ 438 million, an increase of 231% over the same period last year

The wearable device market saw a considerable increase in Brazil in the first quarter of the year, even with the coronavirus pandemic. According to research conducted by consultancy IDC, the sale of these devices grew 265% in relation to the first quarter of last year, raising R $ 438 million, an increase of 231%.

Among the most commercialized wearable devices in the country are fitbands, bracelets that can monitor exercise, with a 321% increase, 168.6 thousand units were sold and smart watches, registering a 218% growth with 149.3 thousand units sold.

According to the study, one of the indications that may have placed the bracelets on top of most purchased wearable products is the price: according to IDC, these devices were about 37% cheaper than last year, costing, on average, R $ 551. Smart watches increased 3% in price, but the small percentage did not intimidate consumers, even though devices cost, on average, R $ 2.3 thousand.

"With new products and a high price, the demand for clothing was on the rise, which motivated retailers to stock up at the beginning of the year. Thus, when the pandemic arrived, there was stock, supply and demand and sales were not impacted. "explains Renato Meireles, research analyst and Consumer Devices consultancy at IDC Brasil. "The pandemic does not prevent us from wearing a smart bracelet or watch, as we are only great companions to monitor exercises at home. In addition, the clothes are products with good performance in e-commerce and the closing of physical stores did not have a negative impact on sales. ", concludes the analyst.

With high in recent years, the expectation that wearable devices will continue to grow in the second quarter, but also that the impact of the pandemic will reach the sector a little more, reveals the IDC. For the coming months, bracelets are expected to increase by 39.2%; watches, 23.4%. For the market in general, the expectation of an increase of 30%.