Apple Watch U.S. Sales Estimated At 2.8 Million

While official sales numbers for Apple Inc. AAPL’s new Apple Watch have yet to be released, recent data from Slice Intelligence, a research firm that collects data from e-mail receipts, reveals that nearly 20 percent of Apple Watch owners purchased an additional band for their watch.

Sales Estimates

As of mid-June, Slice Intelligence estimates that Apple has sold about 2.79 million Apple Watches, Reuters reported. E-mail receipts from the 2 million online shoppers surveyed by Slice indicate that about 20,000 purchased an Apple Watch. Of those 20,000 Apple Watch buyers, about 17 percent chose to buy at least one extra watch band.

Related Link: How Apple's WWDC Presentation Could Ignite Apple Watch Sales

Fashion Statement

So far, the black sport band has been the most popular choice both for first-time Apple Watch buyers and for owners purchasing an additional band. The next best-selling band is the Milanese loop, a more expensive luxury band option. The popularity of these two band choices suggests that consumers are purchasing additional bands in order to match their Apple Watches to their wardrobe.

Razor-Blade Business Model

Shopping data from Apple’s first foray into the fashion world raises the question of whether the tech company stands to profit more in the long-term from the sale of accessories than from the device itself—a razor-blade sales approach.

According to Slice, the entry-level $349 sport model has been the most popular Apple Watch choice among early buyers. While the black sport band is priced at a modest $49, additional bands such as the second-most popular Milanese loop and the stainless steel link bracelet cost $149 and $449, respectively. The $49 sports band costs Apple only about $2.05 to manufacture, which would represent more than a 95 percent profit margin for the company.

As the popularity of the Apple Watch continues to grow, however, Apple could face serious competition from third-party band manufacturers.