This morning, Oura made the announcement that their smart ring would be available for purchase at some Target locations throughout the United States. Oura made similar announcements with Amazon in March and with Best Buy in April of last year. This partnership, which also takes the wearable to the retailer’s website, follows those announcements.
As a result, a company that virtually single-handedly legitimized the smart ring as an alternative form factor to the widespread wrist-worn smartwatches and trackers has received a significant amount of recognition. As a result of the pandemic, the number of people interested in health trackers has increased, making the retail push a primary focus for CEO Tom Hale, who took over the post in 2022.
During this time period, several of the most prominent sports leagues, such as the National Basketball Association (NBA), used the company’s health monitoring system, which had the ability to detect early cases of COVID-19 infections. The firm, which had been in business for nine years, made the announcement that it had sold one million rings in March 2022.
There will be fake units on display at the end caps of Target stores, which will provide a “unique in-store sizing experience.” The shop will send a gift voucher worth ten dollars to the customer as compensation for purchasing a size kit on Target’s website, which costs ten dollars.
Oura’s subscription service is where the majority of the company’s income comes from, despite the fact that the Gen 3 rings start at $300. When the firm revealed that it would require a monthly subscription to access certain functions, it faced opposition; however, this criticism does not appear to have significantly hindered Oura’s expansion.
Samsung’s announcement earlier this year that it would be releasing its own fitness ring provided additional evidence supporting the form factor. The Galaxy Ring is scheduled to be released to consumers later this year.
