Apple has sold roughly 2.8 million Apple Watch units as of mid-June in the US, according to data from Slice Intelligence, a research firm that studies email receipts from a database including more than 2 million online shoppers. But Apple Watch sales are just the tip of the iceberg, according to the study, which involved more than 20,000 people who bought an Apple wearable (via Reuters).
Besides purchasing the Apple Watch, nearly 20% spent additional cash on a spare band, too. What this means is at least an additional $49 for a band, which, by the way, costs only about $2.05 to manufacture, according to IHS (this doesn’t include expenses such as packaging and shipping, though).
But that’s just the Sport band. The second most popular band is the Milanese loop, which costs $149, just like the quilted leather loop. However, band costs spike when you choose the stainless steel link bracelet, for which you need to shell out $449.
“It’s just a psychological thing,” said Carolina Milanesi, chief of research and head of U.S. business at Kantar Worldpanel ComTech, a consumer research firm. “I start with the least investment, and then I spend more money, but I get something else.”
As the study shows, the popularity of spare bands suggests that some Apple Watch users may be spending more than they originally intended.
Apple, on the other hand, allowed third-party developers to create their own design of the Apple Watch band, which could threaten its accessory revenue.
But what seems more important at this stage is the appeal of the Watch, say experts, so extra revenue from stylish bands is just a welcome benefit for Apple.