The Battle of the (Smart Wrist) Bands
As more smart wristbands come to market, so a price war is imminent.
WTW predicts that the price war will break out in the UK, where products from the current market leaders are more expensive than in the US. In the UK, the Fitbit Flex currently retails at £79.99 while the Nike+ FuelBand is a steep £129, a price that is easily north of US $200.
In its home market, UK-based challenger Fitbug is leading the low-price charge, with promotional materials that position the Orb for “just £49.95: That’s less than half the price of Jawbone UP or Nike FuelBand”.
The imminent arrival in Europe of the Nuband will give Fitbug more competition at the sub-£60 price point, while WTW expects Jawbone and Fitbit to counter by lowering prices on existing products (especially the second-generation Jawbone UP and Fitbit Flex) in time for the Christmas 2014 buying frenzy.