40% of MENA retailers not stocking wearable tech
40% of MENA retailers not stocking wearable tech
Over 40% of major technology and consumer electronics retailers in the Mideast and North Africa (MENA) are not stocking wearable technology but this may change, according to research.
Retail channel event DISTREE Middle East conducted the survey earlier this month by collecting responses from senior executives of 57 of the region’s top electronic retailers.
Wearable technology such as Samsung’s Gear smartwatch range have been launched in the last two years to capture a market that wants more than just a smartphone or tablet.
And the wearables market is set for strong growth, as the International Data Corporation (IDC) on Thursday released research that points to shipment volumes exceeding 19 million units in 2014, more than tripling last year's sales, while the global market is expected to swell to 111.9 million units in 2018.
Amid this global context, DISTREE’s research also points to a possible uptake of wearable technology in the Middle East and North Africa market.
“Of the retailers and e-tailers not yet stocking wearables, two-thirds indicated that they wanted to immediately add products in this category, with the remaining third saying they hoped to expand their portfolio to include wearables within the next 12 months,” says Liam McSherry, marketing director at DISTREE Events, in a statement.
The DISTREE research goes on to say that smartwatches are the most popular wearable technology segment with 67% of surveyed retailers saying they stock these products.
Audio-related wearables are stocked by 54% of surveyed retailers, while fitness and health-related products are carried by 50% of retailers, says DISTREE.
Other survey results indicate that 78% of all retailers want to add new smartwatch brands to their stock. 58% of respondents said they also want to increase their fitness and health-related wearables range.
Half of respondents expressed an interest in working with brands active in the smartglasses space, says DISTREE.
But despite research pointing to an uptick in wearable tech adoption, the current stocks of the devices among retailers remain low.
“Awareness of wearables brands remains severely limited in the Middle East retail channel,” added McSherry.
“With the exception of Pebble in the smartwatch category and Fitbit in fitness devices - which both achieved 40% brand recognition among retailers - other wearables brands are just not widely known in the MENA retail channel,” said McSherry.
Results of this survey have been released months before DISTREE has its first ever African event.
The global technology event series has chosen Kenya’s Safari Park Hotel to host its first African get-together on 19-21 June this year.