Fitbit apparently was hot Christmas seller
It was a very merry Christmas for fitness-tracking device maker Fitbit.
The company’s app was the most-downloaded on Apple’s app store Christmas Day, a sign that many people couldn’t wait to set up their Fitbit trackers after unwrapping them. It also suggests that Fitbit trackers were a hot seller during the holidays, despite increasing competition from Apple’s smartwatch and other wearable devices. Investors were pleased, sending shares of the San Francisco company higher Monday.
The Fitbit app topped Apple’s app store in the U.S. on Christmas Day and the day after, according to App Annie, which tracks app downloads and rankings. That’s far better than last year when the Fitbit app ranked at No. 18 on Christmas Day and No. 15 the day after, according to research from Raymond James & Associates. In a note to clients, Raymond James analyst Tavis McCourt called the numbers “impressive.”
Fitbit declined to comment Monday. Apple did not respond to a request to comment.
Though app downloads don’t necessarily mean a tracker was sold, McCourt said it’s a “good measure of relative sales success.”
Retailers confirmed Monday that Fitbit trackers were in high demand during the holiday shopping season.
Macy’s Inc. said the Fitbit’s products sold “very well” at the department store. Discount retailer Target Corp. said the trackers were one of its top-selling electronics during the holiday season. And Amazon.com Inc. said the Fitbit Charge was one of its most-popular items for customers who used its same-day delivery service in Chicago, Dallas, New York and other major cities.
App downloads also could lead to future sales. Users who track their health information on the app are more likely to buy another Fitbit device when they want to upgrade, said Ross Rubin, the senior director of industry analysis at App Annie.
On Monday, shares in Fitbit Inc. jumped 95 cents, or 3.3 percent, to $29.86. Still, they are down about 42 percent since reaching a high of $51.90 in August, a couple of months after the company’s initial public offering in June.