According to Spotify, offline playback is now available in the Wear OS app. This was confirmed by The Verge. Android Central reported that some Reddit users are already able use the feature. If you've been waiting, you may want to check to see if it has been rolled out.
However, offline playback via Wear OS has some limitations. According to a Spotify blog post, your watch must be running Wear OS 2.0 or later to use this feature. Spotify Premium subscribers will not be able download playlists and albums for offline listening. You can download podcasts offline for both paid and non-paid users.
Spotify announced on August 11th that it would soon be offering offline playback for its Wear OS. It is nice to see it now. Spotify also added offline playback to the Apple Watch recently, but Deezer was able to add the feature to its Apple Watch App just a few days earlier.