- Fitbit is the market leader in sales of fitness-tracking bands, remaining very popular among wearable consumers post-IPO.
- In 1H16, Fitbit sold 2.28 million more devices than in 1H15. This 28% YoY growth proved the success of 1Q16 models such as the Alta and the Blaze fitness smart watch, showing the potential for Fitbit to cut into competitors’ share of the market for smart watches.
- Fitbit has launched initiatives within the “corporate wellness” space, providing tailored programs and partnering with providers such as Virgin Pulse and Vitality to increase employee productivity and retention and lower health care costs.
- Thanks to Fitbit’s acquisition of FitStar, Fitbit users can spend more time perusing content on a Fitbit application on a variety of devices. FitStar also gives Fitbit an aftermarket way to encourage users to pay for access to personalized coaching lessons.
- Fitbit is lagging behind competitors in the NFC payment arena. However, it acquired wearable payment technology from Coin in 2017, providing the platform for technology adoption.
Table of Contents
- SWOT analysis
- Company overview
- Product description
- Business model
- Funding and M&A
- Virgin Pulse and Vitality