CED magazine has a story about a new report from Parks Associates saying that “US households with existing broadband service will purchase nearly 55 million smart home devices in 2020 if current trends continue … The report found that although many smart home devices are still in the early adoption stage, the number of U.S. households installing smart thermostats, lights, locks, or networked cameras climbed from 12 percent earlier in the year to 15 percent.”
The story quotes SVP Elizabeth Parks as saying, “Collectively, U.S. adoption of smart home products is nearing the threshold of the early majority, thanks to marketing efforts of large players, popularity of voice-based products, lower product costs, and a focus on the consumer experience in the purchase process. And consumers are beginning to recognize the value propositions of platforms such as smart video door bells and smart thermostats, which is boosting their adoption both for household use and as gifts.”
The story quotes SVP Elizabeth Parks as saying, “Collectively, U.S. adoption of smart home products is nearing the threshold of the early majority, thanks to marketing efforts of large players, popularity of voice-based products, lower product costs, and a focus on the consumer experience in the purchase process. And consumers are beginning to recognize the value propositions of platforms such as smart video door bells and smart thermostats, which is boosting their adoption both for household use and as gifts.”
- KC's View:
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It seems to me that retailers ought to be thinking about how they can use the “smart home” movement when developing long-term strategies and tactics. They have to figure out where they fit in this continuum - it won’t be every customer nor every home, but the numbers are growing and cannot be ignored.
