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Oura, a leader in health and wellness wearables, plans to expand its stores by offering smart rings on Amazon. The move comesas the company attempts to break into the burgeoning healthcare market and faces increasing competition from tech giantssuch as Apple and Samsung.
Starting Thursday, Oura will offer a wide selection of rings and accessories to American customers through the Amazonmarketplace. In addition, the company will offer sizing equipment for sale, allowing customers to find the perfect size and thenreceive a discount equal to the cost of sizing the equipment.
Oura Marketing Director Doug Sweeny talked about the importance of partnering with Amazon and touched on Amazon’slarge market share and its importance in product reviews and search. The partnership with Amazon represents a continuationof Oura’s expansion into retail, following the successful partnership with Best Buy announced last year.
Sweeny added that the move to Amazon fits Oura’s existing business while providing access to a broader consumersegment. He emphasized the importance of educating customers about the product and its benefits, using Amazon’s platformto deliver the best experience.
Our expansion into Amazon’s business comes as the company faces stiff competition in the smartphone category, particularlywith Samsung’s upcoming Galaxy Ring. As Samsung prepares to enter the market with its own health tracking features,including heart rate and sleep monitoring, Oura recognizes the need to connect to further innovate and improve its products.
While Apple and Garmin continue to focus their work on wearable technologies, Oura stands out with the importance itattaches to sleep-related data and biometric tracking capabilities. Equipped with research-grade sensors, the Oura ringmonitors important parameters such as heart rate, body temperature, and sleep, allowing users to better understand theirhealth and wellness.
Despite fierce competition, Oura maintains its leadership position and is optimistic about growth opportunities in theapparel industry. Sweeny sees Samsung’s entry into the smart category as a positive development and validation of thecategory’s potential. He reiterated Oura’s commitment to providing unparalleled customer service and expressed confidence inthe company’s ability to succeed in the changing business environment.
With more than 1 million Oura rings sold to date and valued at $2.55 billion as of April 2022, the company continues to solidifyits leading position in health, hygiene and wearable healthcare products. By using Amazon’s platform, Oura aims to reach awider audience and raise awareness about the health benefits of its new smart ring.