73% of people interested in Apple Watch won’t spend more than £299 – well below £479 price-tag

By Jennifer Faull | Deputy Editor

April 21, 2015 | 3 min read

Consumer expectations of the cost of an Apple Watch are way below the actual price, according to research from GfK conducted ahead of the device’s launch later this week.

The majority (73 per cent) of people interested in the launch of the Apple watch say they are prepared to spend up to £299 while 17 per cent are prepared to spend between £300-£399.

The basic standard model starts at £479 and goes up to £949 depending on the face size and strap material. Meanwhile, devices in the luxury Apple Watch Edition collection range from £8,000 to £13,500. For more price-conscious consumers the smaller Sports range starts at £299 for a basic model.

Only one in ten are willing to pay £400 or more.

The figures indicate that people who are interested in the launch of the Apple smartwatch don’t expect it to be priced as highly as it is. But the hype and marketing activity around it will no doubt convince some gadget lovers to spend more than they initially thought.

Elsewhere, the research found that the smartwatch ranks sixth after a smartphone, tablet, laptop, games console and smart TV as the most coveted tech item.

Six in ten of those surveyed have decided to delay a smartwatch purchase for Apple’s device debut before deciding which smartwatch or fitness brand to buy.

According to GfK tracking data, in the first quarter of 2015, sales volume of smartwatches fell 21 per cent compared to the same time last year. By comparison, the sales volume of wearable tech overall increased in the same period – up 52 per cent and growing 22 per cent in value year on year.

The latest marketing news and insights straight to your inbox.

Get the best of The Drum by choosing from a series of great email briefings, whether that’s daily news, weekly recaps or deep dives into media or creativity.

Sign up

When people do get their hands on an Apple Watch, the majority (48 per cent) will be hoping it will control more appliances around their homes. For 41 per cent, using a watch to make calls would make them feel “silly” while 21 per cent would feel “vulnerable” using it to make payments.

Anne Giulianotti, joint head of technology at GfK said: “Apple is a master at creating desirable new personal tech devices – not to mention entire categories – but gaining mass appeal for the smartwatch may be the greatest challenge yet.

“The high price point and lack of clarity around smartwatch benefits generally mean that this wearable technology will have to provide an outstanding experience if its sales performance is to come close to that of the iPad or iPhone.”

The data was gathered from a survey of 1000 people online from 2 to 10 April 2015.

Trending

Industry insights

View all
Add your own content +