Fitness Companies Like FITBIT Can Be As Healthy For Your Stock Portfolio As They Are For Your Body.
It sold 36.6 million shares at $20 per share. The wearable activity tracker company raised $732 million which far exceeded expectations. Fitbit even outsold Apple Watch. Being the most recognized brand in wearable fitness technology, competitors like Garmin vivofit and Jawbone Up couldn't even keep up.
There’s a huge need to user based fitness devices right now. With chronic health conditions rising in the US each year, so the need for proactive health self-care will rise.
Companies like Fitbit are catering to this demand. People now trust wearable technology for their fitness goals, as they have been effective. User found that fitness apps motivated women to work out more. In addition many apps have been build to work with these devices to give user professional direction for their workouts, so it's perfect for anyone who wants to work out but doesn't know where to start.
But the new trend we are seeing among the public is the desire to incorporate this technology along with medical treatment for chronic health conditions. I remember reading one study that said 65% of these patients wish doctors made them a part of their health care.
Now I know some people may say that doctors will be worried that these devices may replace them. But, I suggest that patients that use wearable technology may be more likely to consult with a doctor. It could even make remote communication easier for the patient and doctor. As much as we want our health at our fingertips we still want it under doctor’s supervision. This where a real growth opportunity lies, and in 2016 you will start seeing wearable fitness technology used in the medical arena
Historically, Fitbit focused its marketing on the “gym rats", the company is now go to brand for health and fitness tracking. Considering how crowded the wearables market is, and how Fitbit is facing competition from the likes of Apple and Samsung it’s a huge accomplishment.
Another reason for climbing growth opportunity for wearable devices like the FITBIT is the concern of health care costs. Proactive health-care is taking off. Consumers will pay for self care, and user trust these devices as accurate. So it confirms a sense of security that is need if one cannot seek professional help. (No, I AM NOT SAYING DON’T GO TO A MEDICAL PROFESSIONAL).
Given the current market trends and the reasons I stated above wearable fitness device companies like FITBIT will be a smart investment for years to come.
Warren “MrFit” Bloom
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