In the past years, an increasing number of people have begun to use different types of exercise monitoring devices to measure their physical exercise activities. However, the underlying reasons why people use these devices remain very vaguely understood. This study aims at addressing this shortcoming by first proposing a theoretical model for explaining the usage intentions of exercise monitoring devices and then empirically testing it in the case of two common types of these devices: pedometers and route trackers. The model is based on a synthesis of three distinct theoretical domains – the theory of planned behaviour, the innovation diffusion theory, and the typology of consumer value – and it is tested by analysing an online survey sample of 3,036 Finnish consumers, or more specifically sub-samples of 293 pedometer owners and 359 route tracker owners, through structural equation modelling. The results of the analysis are also used to draw implications for the design and marketing of the devices.