Market Research Wrap: Mini wireless earbuds driving growth
by MarkLives (@marklives) Our weekly wrap of the latest market and consumer research:
- Global wireless headphone market
- Looking ahead for department stores
Millennials boost demand
The global wireless headphones market is estimated to generate revenues of approximately US$15bn by 2024, with the introduction of innovative and miniature wireless earbuds driving the growth, especially among fitness and sports activity enthusiasts. This is according to “True Wireless Headphones Market — Global Outlook and Forecast 2019–2024”, recently published by Arizton Advisory and Intelligence. [Cheryl Hunter]
The forecast covers a detailed overview of various growth enablers, restraints, and trends that promise to affect many markets and products.
Rapid globalisation and an increasing number of mass media channels have made the millennial generation aware of a wide range of cultures and music genres, boosting the demand for new devices in the market. Some vendors have even created real-time language translation capabilities that work both with and without networks.
Smart devices dominated the total market share in 2018, redefining the genre of wearables by integrating features of various electronic devices into the tiny space of earbuds.
The increasing number of ecommerce portals and online direct-to-consumer stores, such as Amazon, eBay, Best Buy, Alibaba, and JD.com, is contributing to the growing demand in this segment, with two-thirds of sales taking place online in 2018. Major vendors in the market are Apple, Sony, Bragi, Jabra and Samsung.
- Request a sample or buy the full report at Aritzon.
New research from Forrester, “The Future Of Department Stores: AD&D Imperatives”, distils opinion on the options such stores have for thriving and surviving, the capabilities that will bolster their chances of success, and the tools application development and delivery (AD&D) teams must either build or buy to prosper. [Cheryl Hunter]
All retailers are trying to navigate the gap between profits, dividends, and technology-mediated relevance to customers, but department stores — historically brand showcases — now face special challenges as sales move online, unless they are able to materially enhance customers’ experiences. Going forward, department stores will focus less on transactions and more on convenience, novelty and entertainment, focusing on service rather than sales, personalised interaction, customer retention and unique merchandise.
- Buy the full report at Forrester.
This weekly “Market Research Wrap” column offers an overview and critique of the latest market and industry research.
Cheryl Hunter (@cherylhunter) has written for the South African media, marketing and advertising industries for more than 15 years. A former editor of M&M in Independent Newspapers and contributor to Bizcommunity, AdFocus, AdReview and the Ad Annual, she has also produced for various television networks and currently consults on communication strategy and media liaison.
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