Oura has expanded its retail presence by announcing that its smart rings will now be available at select Target stores across the United States, as well as on the retailer’s website, following similar partnerships with Amazon and Best Buy last April.
This new availability at Target is part of a wider retail strategy initiated by CEO Tom Hale, who took leadership in 2022, during a time when interest in health trackers surged, partly due to the pandemic.
The introduction of Oura’s smart rings to Target stores includes an innovative in-store sizing experience, where customers can interact with dummy units to find their ideal fit. To encourage online purchases, Target offers a $10 sizing kit, which comes with a gift certificate of the same value, effectively making the kit free upon purchase. This approach not only facilitates the buying process but also enhances customer engagement with the product in physical retail spaces.
The company’s expansion into retail outlets has proven pivotal as Oura continues to cement its position within the wearable technology market. Initially recognized for validating the smart ring as a viable alternative to the more common wrist-worn devices, Oura has gained substantial credibility.
This is further evidenced by the adoption of Oura rings in professional settings, including by sports leagues such as the NBA, which utilized the technology to monitor potential early signs of COVID-19 infections among players.
Despite facing criticism over its subscription model—required to access certain advanced features—the backlash has not significantly hindered Oura’s growth. The company, which celebrated the sale of its one-millionth ring in March 2022, has seen sustained demand for its products. The smart rings, now in their third generation, are priced starting at $300, with the subscription service providing a steady stream of revenue.
The success and acceptance of Oura’s product have also influenced other companies in the tech industry. Earlier this year, Samsung announced the upcoming launch of its own fitness ring, the Galaxy Ring, which is set to enter the market later this year. This move by Samsung adds further legitimacy to the smart ring form factor as a viable segment in the wearable technology market, showcasing the growing competition and innovation within this space.
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Featured Image courtesy of Oura