Health Gadgets Big in China Gift Market
Worth over Rmb750 billion annually, a major share of the Chinese mainland gift market is taken by wearable tech.
27 April 2015
The Chinese mainland's gift economy has an annual turnover of Rmb768.4 billion, representing two per cent of China's GDP, according to the latest figures from the National Bureau of Statistics. This figure includes individual gift spending worth Rmb505.5 billion, along with corporate demand, including organisations and work units, worth Rmb262.9 billion.
The Central Government austerity measures, aimed at curbing excessive spending by public officials, has inevitably led to a spending decline in the corporate gifts sector. As compensation however, there are signs of an increased spend in terms of individual gift-giving. For personal gifts, the most popular items are cigarettes, alcohol and nutritional supplements, as well as books and handicrafts. Digital products, notably mobile phones and computers, are also in-demand gift choices. Increasingly, gift items are chosen both for their practicality and appeal to contemporary tastes and fashions.
In terms of festival gifts, food, health products and digital items have emerged as the products of choice. With digital products becoming more affordable, along with the growth in mass-market technology, many of these have proved particularly popular items among gift buyers.
In particular, 2014 has been widely seen as a breakthrough year for wearable devices. The massive potential of this sector has resulted in a considerable number of domestic and overseas manufacturers – notably Intel, Sony, Samsung and LG – prioritising the development of their related product ranges.
In terms of overseas manufacturers, Intel, for instance, has introduced its Edison chip, hardware specifically developed for use in wearable devices. Sony, meanwhile, has launched the SmartBand intelligent bracelet, a unit designed to track all aspects of the wearer's daily physical activity. Not to be outdone, Samsung has upgraded its Galaxy Gear smartwatch range, while LG is heavily promoting its Lifeband intelligent bracelet.
On the domestic front, mainland manufacturers have also proved keen to make their mark in the wearable tech sector. Shanghai-based Geak Electronics introduced the first China-made smartwatch in June 2013. This was soon followed by the launch of the Boom Band intelligent bracelet, a cooperative venture between Guangdong's TCL and Baidu, while the ZTE Corporation has launched the BlueWatch, the Shenzhen company's first smart timepiece.
In terms of health and medical equipment, several products – notably blood pressure monitors, blood glucose monitors and bathroom scales – have emerged as popular gift items. This has coincided with many of these items reinvented as intelligent devices that connect to smartphones, tablets or PCs. These mobile devices can record the timings and findings of every health-check, allowing users and health-care professionals to chart changes in health and physical condition in real time.
Overall, such devices are seen as having wide applications, among both the sporting and elderly community. For athletes and health enthusiasts, such wearable devices can monitor levels of daily exercise, including lengths and timing of runs, as well as related heart performance. For the elderly and infirm, these devices can be used for various applications, including automatically reporting falls or allowing diabetics to monitor their blood glucose levels.
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- Gifts & Premiums
- Hong Kong
- Mainland China
- Hong Kong