Fitbit products to enter mom & pop stores

Fitbit aims to have India among its top 5 markets in the world

The wearable technology products company Fitbit is planning to sell its health and fitness tracking devices through mom and pop stores in addition to the existing outlets owned by large retail chains.

"At present our products are available in 500 outlets across India and we are planning to double this number by roping in mom and pop stores by the end of this year," Manisha Sood, country general manager of the US-based company said on Thursday.

After entering the India market in July last year with the off-line sales through large retail chains including Reliance and Chroma, Fitbit now aims to have India among its top five markets in the world, according to Sood. Its global revenues more than doubled at $1.9 billion in 2015 as compared to $714 million in the previous year.

The company also sells these products through its on-line partner, Amazon, in India.

All the 7-odd products that track the fitness routines and body vitals including the heart beat besides alerting the user about his or her physical exercise needs, have been launched in the country. It had roped in movie actress Shraddha Kapoor as its brand ambassador and was about to launch a big media campaign around these products soon.

"It is 70 percent software and 30 per cent device. That makes Fitbit product a unique offering in this segment,"Sood said while explaining as to how their App comes as a one common platform that provides information, insights and guidance for users and also help them reach their health and fitness goals. The products are priced in the range of Rs 4,500 to Rs 25,000.

Though people between 25-45 age group have been target buyers for the company, even the school going children also seen wearing these devices in India thanks to the growing gifting industry and also owing to the growing popularity for these devices, according to Manisha Sood.

Like in other countries Indian companies have also been showing a lot of interest on these devices for the corporate well-ness programmes they conduct for their employees . By using these tracking health and fitness devices, the companies were able to save 6 per cent in employees' insurance bill and also were able to improve the productivity levels among the employees, she said.

Fitbit was also in negotiations with many Indian insurance companies, most of which were thinking about bundling these devices with the health policy product, according to Manisha Sood. She said Fitbit products have a 17.6 per cent market share in India.

Responding to a question, she said the company was going to conduct a feasibility study in the next six months on making these products within India.