Fitbit's Dilemma: The Average Person Uses a Fitbit for Six Months
Fitbit was started by Eric Friedman and James Park in San Francisco in 2007 with an initial investment of USD400,000 from its founders, their families, and friends. Fortuitously for all involved, it was a company that developed the right product at the right time at the right price point, in a wearable industry that was quickly growing in the start of the 21st century. The firm's innovation, adapted from the motion tracking from the Nintendo Wii gaming system, was an immediate success. Driven by the culture of 'Don't Sit, Stay Fit', their goal was to integrate motion sensors into a wearable pedometer. While Fitbit differentiated itself from its competitors through premium design, customizable features and an attractive price point, the firm faces a big issue: most people only use their Fitbits for an average of six months, and then lose interest. In a competitive landscape where smartphone manufacturers such as Apple, Samsung and Xiaomi offer fashionable wearable products that better integrate with their mobile devices, Fitbit must find a way to exercise its first mover advantage, and stay relevant in the market.
Based on desk research; 11 pages.
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Hofmann, A, & Gold, N. (2019). Fitbit's Dilemma: The Average Person Uses a Fitbit for Six Months. Retrieved from http://hdl.handle.net/1765/116050