Wearables market could be worth £104.7m to retailers this Christmas

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Research commissioned by Samsung predicts more than one million wearable devices will be sold in the UK this festive period, with the value of this year’s market expected to hit £313.6 million 

Samsung has predicted that people in the UK will spend £104.7 million on wearable technology this Christmas – more than Germany, Spain and The Netherlands, who were also polled.

This is according to research released by the technology manufacturer, which said sales of wearable technologies in the UK are expected to rise by 182 per cent (£67.64 million) this Christmas (from mid-November to the end of this year( compared to the festive period last year.

It forecasts sales of 1.028.800 million smart wearable products this Christmas, with fitness activity trackers are likely to lead the way, with 474,900 unit sales.

Samsung claimed 2014 is “set to be the year that the wearables sector begins making a significant economic impact”, with its predicted value across the UK, Germany, Spain and the Netherlands predicted to hit £924.2 million by the end of the year.

The UK will account for a third of this, with the value of the market hitting £313.6million, with Samsung claiming that Christmas is set to be the time that retailers can expect the wearables sector to have the most impact on sales.

The biggest growth area in the UK in terms of unit sales is predicted to be the smart watch category, with 156,600 sold and growth of 667 per cent from last year. The UK is also expected to have the highest growth in unit sales across Europe at 120.8 per cent.

Samsung UK and Ireland president Andy Griffiths: “The wearables market has exploded over the past 12 to 18 months with some incredibly exciting and inovative products entering the market.

“As the benefits wearable technology can offer become better understood, it is natural that the sales within this sector will grow and we are delighted to see predictions of 121 per cent and sales reaching €395 million in the UK alone by the end of the year.”

All figures have been taken from the report ‘The Retail Prospects for Wearable Technology in 2014 in the UK, Germany, Spain and The Netherlands’, which was commissioned by Samsung and conducted by the Centre for Retail Research last month.

The report looks at the importance of and the role the wearable market is playing on the retail sector over Christmas and provides sales forecasts by drawing data from national statistic authorities, independent research organisations and a survey of a cross section of 50 key retailers per market.

The tables below show predicted sales and comparisons from last Christmas, as well as expected sales revenue, percentage increase and total unit sales of wearables in the UK this year:

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