A Share of Voice Analysis of Watches on Amazon

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We leveraged DataHawk’s Amazon keyword tracking to analyze the competitive dynamics around the keywords, “women watches, fitness tracker for women, heart rate tracker, fitness trackers, watches, fitness watch, smartwatch, sports watch” on Amazon US by looking at products that appeared the most on the first page of search results over the past 30 days in the US.

These modern devices typically include features like touchscreens, biometric monitoring, and internet connections. Consumer electronics giants Apple and Samsung are the biggest names in the industry, controlling a combined market share of over 60 percent. Estimates suggest that over 90 million of these devices will be shipped around the world in 2019 with this figure rising to over 130 million by 2023.

Smartwatches are often classified under the overarching consumer wearables market which also includes products like smart wristbands, smart clothing, and head-mounted displays. The internet connections present in many of these devices allow them to share statistics and information with other smart devices, forming a network that is often referred to as the Internet of Things (IoT).

Casio and LETSCOM are found to be the top two brands with 55 & 33 products each with a total share of voice of 19.3%. Timex, priced at an average $42 has a share of voice of 11.8%. Casio is the nearest competitor to Timex in terms of their share of voice, 7.5%. The top 4 labels in this segment capture a 31.9% share of voice in the SmartWatch segment on Amazon US.

The 29$ average priced brand, LETSCOM is on the third rank in terms of Share Of Voice on the digital shelf with only 21 products. It is also ranked the third-best on average. The best average rank #4 is won by CakCity.

There are a number of other factors that impact this. One of them is the average price, a great indication of how pricing is impacting the organic ranking results on Amazon. The brands with the highest average price – Fitbit, Garmin, Apple & Samsung Electronics priced at $142, $182, $277 & $227 have a total share of voice of 13.1% (4.4%, 3.8%, 2.6% & 1.8% respectively) on page one.

However, in this segment, the highest-priced brands are not the ones capturing most of the space on the shelf. In fact, the top 5 labels capturing 36.6% of the share of voice on the shelf are all priced below the average price of the category, that is, $66. The overall share of voice of brands that are priced lower than or equal to the average price of the segment is 63.3%

The other brands left with a share of Voice of 26.9%  are priced at an average of $179. Marathon by Timex is the lowest-priced brand in the watch segment. Priced at $17, Marathon by Timex is ranking at #29 in the Watch segment for Timex Marathon mid-size running watch & Timex Marathon Men’s Strap Watch.

Growing demand, usage of fitness devices, increasing awareness, High R&D investments bt the top companies are primarily driving the market growth of smartwatches. In fact, the US is the first country to implement and integrate virtual SIM cards in smartwatch technology. This has made the US a hub for manufacturers to use standalone smartwatch technology and is a boom for market developers.

It is also interesting to see that most of the brands in the top 30 are ranking around the average ranking of the segment, #20. This is a clear indication of the extremely competitive environment in this niche. Priced at  $49 on an average, Michael Kors has the highest number of products on the first page after Timex. It is interesting to note that the Brands with more number of products do not necessarily have higher Share Of Voice on the digital shelf, as can be seen in this niche.

We found that the top 10 brands in the niche are capturing a 57.4% Organic Share of Voice out of a total of 30 brands that had at least one product that made it to page1.

Want to analyze the same for your favorite search query and understand how you can monitor organic performance and map share of voice? Read here.

The competition for the keywords “watches, fitness tracker for women, heart rate tracker, fitness trackers, watches, fitness watch, smartwatch, sports watch” is seen to be tough but with the right insights and correlations, it is vincible.

33.33% of brands have no product ranking for these keywords as sponsored. If you are a brand in this niche, it is important to understand how using smart branding and carefully designed packaging, innovative brands are able to differentiate themselves from their competition.

The global watch market is currently highly competitive for vendors. The market remains a little concentrated at the top, with the leading vendors enjoying the majority of revenue shares. However, variations in customer demand across the globe and a consistent need for technological enhancement in product offerings are driving vendors to refine and modify their unique value propositions.

Moreover, the influx of new brands and tech startups venturing into the fitness products is further putting pressure on the overall competitiveness of the market.