Oura, a designer and manufacturer of health-monitoring rings, has partnered with Best Buy to make its product available in 850 locations across the United States to make it even easier for customers to fit their fingers on one of their devices.
In a blog post published this morning, the Finland-based tech company said that both its Heritage and Horizon styles will hit the stores starting next week and will also be available online on the BestBuy.com website.
Prior to this partnership, it took customers multiple days to get their rings delivered to their location as they had to first measure their finger upon receiving a box from the company for this purpose and then wait for the product to be shipped.
Customers will have the chance to buy four of the most popular selections – the Heritage Black, Horizon Silver, Horizon Stealth, and Horizon Gold – at a physical BestBuy store or they could order other colors and styles online.
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For now, only 250 of the stores will have inventory on-site to fulfill orders immediately while the remaining venues will assist customers in ordering their products and offer fast shipping or in-store pickup.
“Brick-and-mortar retail is a natural next step for Oura and marks a pivotal moment for the business as we continue to expand into the mainstream”, the Chief Executive Officer, Tom Hale, commented about the deal.
According to the company, nearly three-quarters of the US population lives within 10 miles of a Best Buy store.
“Oura Ring is a natural fit for us as we continue to bring our customers the latest innovations in health technology.”, commented Frank Bedo, a Senior VP at Best Buy.
More About Oura’s Products
Launched in 2015, Oura’s products have evolved to provide highly accurate insights on users’ health and sleep habits by measuring multiple variables such as their body temperature and heart rate.
The price of Oura’s Heritage style ring starts at $299 while the Horizon version starts at $349. The rings come in five different colors – silver, black, stealth, gold, and rose gold. They are water resistant and are made of titanium.
The batter of an Oura lasts around 7 days and can be recharged with a regular USB-c adapter. The company has created applications for both iOS and Android and the device can be connected to a smartphone via a low-energy Bluetooth connection.
Oura Seems Could Be the Market’s Leader After Selling More than 1 Million Rings
In May 2021, Oura raised $100 million during a Series C funding round led by The Chernin Group. The ring became very popular during the days of the pandemic as several sports teams embraced the technology to keep track of their players’ health.
Up to that point, the business had raised nearly $150 million from investors, making that latest round the largest since the 2015 Kickstarter campaign that brought the company to life. In March 2022, Oura announced that it had sold over 1 million rings.
Users can also subscribe to Oura’s premium service for $5.99 per month in exchange for receiving detailed reports on the quality of their sleep, health tips, and preliminary diagnoses resulting from an assessment of the person’s body temperature.
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The market for Smart Rings in the United States is expected to be worth $11 million by 2030, growing at a rate of approximately 24% per year according to Contrive Datum Insights.
Oura competes with similar products including the McLear RingPay, which incorporated contactless payment technology, the Circular Ring, and the Hecere NFC Ring.
Smart rings became more popular during the COVID-19 pandemic as the companies that manufacture them started to advertise that they could identify signals that the user had contracted the virus by measuring their heart rate, body temperature, and oxygen levels.
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