Forget Buzz Lightyear, a new, exotically-kitted Subbuteo team, Charles Buchan’s Football Annual or any other items lovingly recalled from wishlists of Christmas past. Two weeks today, you’re more likely to receive a remarkably impressive and powerful item of gadgetry you can actually wear.

Sales of ‘wearable technology’ are expected to triple over the next couple of weeks, to £105 million, according to the Centre for Retail Research.

Hi-tech smart glasses and watches, once considered the stuff of science fiction, are currently flying off the virtual shelves, but the most popular type of wearable technology is that which constantly monitors your wellbeing and fitness. Health and fitness trackers already account for more than two-thirds of the market, sales of which rose by 50 percent in the second quarter of 2014.

Nike’s Fuelband, for example, tracks the intensity of your workout, while the FitBit Flex Wireless Activity Tracker records the number of steps you take each day, as well as the number of active minutes you enjoy while awake, the number of hours you’re asleep and even the quality of your sleep.

So great has been the demand for wearable technology that one purveyor, Fitbug, listed on the Alternative Investment Market, saw the value of its shares rise from 3p on 24 October to 19p by 19 November. On Tuesday of this week, however, the share price crashed, falling at one point by more than 23 per cent.

Did this mark the end of a short-lived wearable technology boom? Not at all. The company announced it had successfully raised £3.5 million, via the issue of 39 million new shares, with the fresh funding earmarked to accelerate further growth, “to meet fast growing demand for wearable technology and complementary products” according to an accompanying market statement.

Fitbug said it’s marketing drive will begin immediately when the company attends the Consumer Electronics Show in January and “activates various marketing campaigns.”