Oura’s smart ring hits Target stores
Reading Time: 2 minutesOura on Monday announced that its smart ring will be available in select Target stores in the U.S. The deal, which also brings the wearable to the retailer’s site, follows similar announcements with Amazon in March and Best Buy last April.
It’s a good bit of validation for a company that almost singlehandedly legitimatized the smart ring as an alternative form factor to ubiquitous wrist-worn smartwatches and trackers. The retail push has been central to CEO Tom Hale, who took over the role in 2022, as interest in health trackers was on the rise amid the pandemic.
The period also saw high-profile adoptions from sports leagues like the NBA, as the company touted health tracking that could potentially catch COVID-19 infections early. In March 2022, the nine-year-old company announced that it had sold its one-millionth ring.
Target end caps will feature a ‘unique in-store sizing experience,’ with dummy units on display. For those who purchase a $10 sizing kit through Target’s site, the retailer will send along a $10 gift certificate to offset the price.
The Gen 3 rings start at $300, but Oura’s subscription service is where the real revenue comes from. The company faced pushback when it announced that it would require the monthly fee to access certain features, though such criticism doesn’t appear to have had any major negative impact on Oura’s growth.
More validation for the form factor arrived earlier this year, when Samsung announced that it is launching its own fitness ring. The Galaxy Ring is set to hit the market later this year.
Reference: https://techcrunch.com/2024/04/22/ouras-smart-ring-hits-target-stores/
Ref: techcrunch
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