T H E I N D U S T R Y A N D I T S C O M P E T I T O R S

FITBIT

OVERVIEW

• The competitors of Fitbit

• The uses of Fitbit

• Case studies and the industry

• Conclusion

FITBIT’S COMPETITORS

• Nike

• Fuel Band

• Jawbone

• Garmin

• Apple

MARKET SALES

• About 3.3 million fitness bands and activity trackers were sold between April 2013 and March 2014 in the U.S. through bricks-and-mortar retailers or large-scale e-commerce sites, according to the NPD Group.

• Unit sales grew over 500% year-over-year for the period. We estimate growth has been at around 500% annually for the past three years.

• Fitbit dominates the market. NPD estimates that Fitbit's line of devices, including the Force, Fit, One, and Zip models, accounted for 67% of sales for the period.

• Jawbone and Nike are a distant second and third, respectively. Jawbone held about 18% of the market and Nike's share is down at around 11%. Altogether, these three companies make up 96% of the whole fitness tracker market; the gadgets typically cost $60 to $200 (Health Matters at Work, 2013).

ANNUAL REVENUE

Source: NPD Group, BI Intelligence Estimates; Annual Data From April Through March

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Nike

Fitbit

Jawbone

OTHER MARKET COMPETITION NOTES

• There are 20+ fitness trackers on the market (Health

Matters at Work, 2013).

BEST AND WORST

• Fitbit is one of the best fitness trackers on the market

• Polar Electro Wearlink is one of the worst

FITBIT’S INDUSTRY

• As of September 2013 one in ten U.S. consumers over the

age of 18 owns a modern activity tracker from the likes

of Jawbone, Fitbit, Nike, Misfit Wearables, and others

– Endeavour Partners

• By 2018, more than 13 million wearable activity-tracking

devices will be integrated into employee wellness

programs

– ABI Research

• 35% of organizations say employee wellness programs

are a “very effective strategy for controlling costs”

– 2013 Kaiser Family Foundation/ Health Research & Educational Trust Survey

THE REASON FOR THE RISE

Keeping employees engaged and

measuring effectiveness

• Motivating employees to share goals with their

peers, and through social media, along with

personally relevant incentives has shown an

increase in employee engagement with corporate

wellness programs.

• Fitness trackers facilitate the reinforcement of

positive behavior, incentivize measurable goals,

and simplify integration of participation metrics into

a corporate wellness program.

CASE STUDIES AND THE INDUSTRY

Companies offering wearables in wellness programs:

AT&T ,Humana Inc., BP, VISTA Staffing Solutions, Bates

College, Killer Infographics, Practice Fusion

• VISTA Staffing Solutions

• employees shed approx. 800 pounds in weight

loss program with FitBit

• saved company approx. $39 million annually due

to decreased medical expenses and increased

productivity

MORE CASE STUDIES

• BP offered employees FitBit trackers for million-step

challenge - Fortune

• healthier workforce

• increased daily productivity

• lowered healthcare premiums

• Bates College

• 35% of employees participating in competition

incorporating FitBit

• Getting groups of people moving, increasing

productivity and engagement

WELLNESS PROGRAMS AT WORK

• Killer Infographics

• office morale and overall productivity have gone

up, and there are a lot less sick days being called

in

• Practice Fusion

• Employees who enjoy their job and co-workers on

such a deep level are less likely to seek

employment elsewhere, which keeps our

recruiting costs down

BENEFITS OF WELLNESS PROGRAMS

• happier workforce

• fewer sick days

• increased productivity

• increased engagement

• lowered recruiting costs

• decreased health insurance premiums

HOW YOU CAN DO IT

Sustained engagement with a wearable device or complementary service depends on its ability to effectively motivate users

• Find creative ways to recognize employees who are really committed

• Integrate competition and/or gamification

• Setting a company-wide fitness goal for a month and making sure anyone who hits the goal is recognized appropriately

• When users are able to share their goals or compete for goals with an audience or group, they are more committed to achieving these goals

HOW TO MAKE IT HAPPEN

Sustained engagement with a wearable device or

complementary service depends on its ability to effectively motivate users

• When users are motivated with an incentive you will

have increased participation.

• 90% of employees at Caterpillar Inc. participated in

a health risk assement as part of their wellness

program when offered an incentive.

• 71% of individuals will support a service if there is a

charitable cause supporting it.*

CONCLUSION

• A study by the Harvard Business Review indicates

that engaged wellness programs have been

successful in reducing lost work days by 80 percent

and workers’ compensation premiums by half over

a period of six years.

CONCLUSION CONT’D…

The Center for Disease Control maintains that

moderate-intensity aerobic activity is proven to

• Control weight

• Reduce risk of cardiovascular disease

• Reduce your risk for type 2 diabetes and metabolic

syndrome

• Reduce your risk of some cancers

CONCLUSION CONT’D…

The Center for Disease Control maintains that

moderate-intensity aerobic activity is proven to

• Strengthen your bones and muscles

• Improve your mental health and mood

• Improve your ability to do daily activities and

prevent falls, if you're as an older adult

• And Increase your chances of living longer

RESOURCES

Health Matters at Work

• Implement new wellness program

• Improve existing wellness program

REFERENCES

• Health Matters at Work. (2013). Health Matters at

Work. Retrieved from:

healthmattersatwork.org/stagingChc/files/ccLibrary

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