Health consciousness has pushed demand for smart watch or wearables that monitor one’s well-being.
In a virtual forum yesterday, Diday Alcudia, chief strategic planner, Dentsu JaymeSyfu, said In the Philippines, 9 percent own a smart watch, and 5 percent who own a smart wristband.
Alcudia said in terms of propensity to purchase one in the next 12 months 14 percent of Gen Zs, and 22 percent percent of upper class Filipinos are planning to purchase a fitness wearable.
“In the future we will definitely be using different kinds of technology not just to monitor our health and fitness more effectively, but also to predict health outcomes,” she said.
A smart watch tracks one’s steps or hours of sleep and heart rates or blood oxygenation levels.
Filpinos, Alcudia said, are beginning to be very reliant on technology to predict and diagnose what will happen to their physical health. This is especially because life expectancy of Filipinos is increasing at 72.5 years old which is much higher among the affluent countries.
Alcudia added data also show Filipinos are becoming more confident about using new technology and that there is increasing trust in technology to improve health.
“As we become empowered by these new predictive tools that give us insight into our future health risks, and as global affluence continues its upward trajectory in the 2020s, many consumers will have more time and money to spend on the pursuit of good health and longevity,” she added
Globally, the prediction is by 2028, 10 percent of global consumers will be using a wearable device that monitors stress levels throughout the day.
Fitbit already has 28 million users worldwide.
