There is nothing fluid like time for one to wait for their moment. Living by this very principle Fitshot asks its users to 'Take a shot' and they do not mean trying their luck once in a while but living every minute of life. Just falling in line is their product Fitshot smartwatch designed for the GenZ and millennial generations perfectly fitting their aesthetic and functional needs. Fitshot comes one of the fast-emerging smartwatch companies with the aim of taking 5% of the market in the coming months. Analytics Insight has engaged in an exclusive interview with Sachin Railhan, Founder of Fitshot.
Fitshot aspires to become a household name among young, tech-savvy Indian consumers, as well as a brand that Indians can be proud of. We strive to provide our customers with products that are specifically designed to meet their daily needs. We want to redefine smartwatches by unleashing the limitless possibilities of technology and budget. Fitshot Smartwatches strive to offer customers an affordable, technologically advanced smart wearable experience that allows them to take their own shot – Take your shot!
In the next two quarters, we hope to reach a 5% market share for smartwatches. But for the time being, our primary focus is on increasing smartwatch manufacturing in India. Fitshot is rapidly expanding, and building a strong team is the primary focus right now, followed by increased investment in health research and development.
Smartwatches present their own set of challenges, particularly in India's price-sensitive and dense market. Customers want the best of both worlds: stylish design with superior functionality. A smartwatch also has complex circuit configurations due to the integration of various devices such as sensors, displays, and others into a small compact device. As a result, a lot must be done, and it must be done precisely. Finally, because smartwatches have so many features, explaining them to customers and ensuring proper usage is difficult. Most importantly, there are many smartwatch brands in India that sell similar smartwatches nowadays. To stand out, it is necessary to provide additional benefits to customers so that our brand becomes their first preference.
The smartwatch market in India more than quadrupled in Q2 2022, driven by rising consumer interest in smartwatches as an accessory and fitness trackers. The Indian market is expected to grow at a compound annual growth rate (CAGR) of 26.33%, reaching a sales volume of 16.22 million units by 2024, up from 4.72 million in 2019. In the June quarter, India's smartwatch market grew by 312%. Because there is a high demand for smart wearables in the market, and it is expected to rise further, & we are preparing accordingly.
In four months, we sold 30k smartwatches. It's a good start. We intend to provide more accessory options for our customers' smartwatches, whether in terms of technology or aesthetics.
Our mission is to make smart fitness available to everyone; to anyone who desires a better self and a better world. We envision ourselves as the preferred lifestyle accessory tech brand of all Genz and millennials in the next five years. In addition, we are establishing Smartwatch manufacturing in India. Fitshot's next step is to become completely made in India, and we are also working on localization.
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