The wearable industry in India has been growing very fast recently, and many popular brands like Fire-Boltt, Noise, BoAt, Apple, Samsung, and Amazfit are a part of it. Most of the business is happening on online platforms like Amazon, Flipkart, and Myntra, as well as offline stores. In this article, we will discuss how these platforms are performing in the wearable industry and why they are important for new businesses entering or expanding in this market.

Before we start the deep dive, do you know? Brands like Fire-Boltt is making best use of offline & modern trade. For example: around 50% of Fire-Boltt’s total sale is from offline market which is slightly higher than category average.

Also check, Emerging Trends in the Indian Wearable Industry

Overview of the Data

According to the data provided, here’s a breakdown of the number of units sold and business revenue for major players in the Indian wearable industry:

Platform	No of Units Sold (avg)	Business Revenue (USD) (avg)	% of Total Revenue (avg)
Amazon	10M	291M	29%
Flipkart	12M	327M	32%
Myntra	500k	18M	2%
D2C	1M	91M	9%
Offline+Modern Trade+Corporate Gifting	7M	290M	30%

Flipkart leads the market with an average of 12 million units sold and $327 million in revenue, while Amazon follows closely with an average of 10 million units sold and $291 million in revenue. D2C has an average of 1 million units sold and $91 million in revenue, and Myntra has the smallest market share with an average of 500k units sold and $18 million in revenue.

This might also a be a reason why Noise was the title sponsor for big billion day sale at Flipkart during Diwali 2023.

Interestingly, offline sales through General Trade, Modern Trade, and Gifting contribute significantly to the total revenue of the wearable industry in India, with an average of 7 million units sold and $290 million in revenue, which represents 30% of the total revenue.

This data suggests that both online and offline sales are important for businesses looking to succeed in the Indian wearable industry. Companies should consider establishing a physical presence in the market through General Trade, Modern Trade, and Gifting, in addition to selling through major online retailers like Amazon and Flipkart.

Interestingly, offline sales contribute significantly to the overall business revenue with 30% coming from GT (General Trade), MT (Modern Trade), and Gifting. This highlights the importance of having a physical presence in the market, in addition to online sales.

Validation of Data

Implications for Businesses

The data suggests that Amazon and Flipkart dominate the wearable industry in India, with a combined total of 22 million units sold and 618 million USD in business revenue. While Myntra and D2C have smaller shares of the market, there is still potential for growth.

Businesses looking to enter or expand in the Indian wearable industry should consider the importance of offline sales in addition to online sales. This means establishing a physical presence in the market through GT, MT, and gifting, in addition to selling through major online retailers like Amazon and Flipkart.

Additionally, businesses should focus on creating innovative products that cater to the needs and preferences of the Indian market. This could include features such as adaptive ANC, spatial sound, and gaming TWS, which have been shown to be popular with customers in India.

In conclusion, the wearable industry in India is a growing market with significant potential for businesses. While major players like Amazon and Flipkart dominate the market, there is still room for growth and innovation. By focusing on both online and offline sales, as well as creating products that cater to the needs and preferences of Indian customers, businesses can establish a strong foothold in this exciting and rapidly-evolving industry.