Parks Associates: Retail Experiences Play a Powerful Educational Role for Smart Home Shoppers

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Jul 07, 2022, 07:53 ET

New research highlights interest in smart appliances and consumer shopping behaviors for smart home solutions

DALLAS, July 7, 2022 /PRNewswire/ -- Parks Associates' new consumer research Smart Home Products: Mapping the Buyer Journey reveals smart home shoppers collect information from a mix of online and in-store sources when researching products. Smart home buyers researched product information from an average of more than two different types of sources before making a purchase decision. The consumer study provides the latest data on smart home adoption and trends influencing consumer purchase behavior.

Parks Associates: Information Sources When Shopping

"Information gathering online is common, but consumers feel that experiences in the store are more powerful in the final decision to buy the product," said Jennifer Kent, VP, Research, Parks Associates. "The smart home shopper is clearly considering both online and in-person experiences in decisions. Dealers, technicians, providers, and contractors can leverage their expertise and close consumer interaction to establish a strong connection with the buyer and ultimately win the sale. That close connection works well for single-family home sales, and it is absolutely essential in multidwelling unit (MDU) projects."

The research study reports a big leap in interest for smart appliances among households with incomes over $75,000 per year. Samsung, LG, and other leading OEMs continue to add more features to their smart appliances, hoping to capitalize on the recent boom in home renovations, but many lower-income households are also interested in smart appliances so there is opportunity in a basic value model.

In addition, the study contains new research on consumer adoption and usage of various connected solutions:

More than half of internet households have a smart speaker.
15% of internet households own a smart video doorbell.
Security system apps continue to be the most common tool for controlling multiple smart home products.

"As consumers grapple with inflation, rising energy costs, and a shortage of essential items, smart home players need to meet consumers where they are to maintain growth," Kent said. "Consumers expect access to information, different price points to choose from, and options for delivery and installation."

For information on Smart Home Products: Mapping the Buyer Journey, contact [email protected]. To schedule an interview with an analyst or to request specific data, please contact Rosey Sera at [email protected] or 972-490-1113.

About Parks Associates

Parks Associates, a woman-owned and woman-led internationally recognized market research and consulting company, specializes in emerging technology solutions serving the consumer and small to medium business (SMB) markets. Celebrating its 35^th year in 2021, Parks Associates is a partner to companies navigating the changing consumer technology landscapes through data-driven market insights, extensive consumer and industry intelligence, custom marketing services, and executive networking experiences and conferences.

The company's expertise includes home automation, control systems and security, digital media and platforms, entertainment and gaming, home networks, internet and video services, connected health and independent living solutions, mobile applications and services, support services, consumer electronics, and energy management solutions.

Each year, Parks Associates hosts industry webcasts, the CONNECTIONS™ Conference Series, Connected Health Summit, Smart Energy Summit: Engaging the Consumer, and Future of Video: OTT, Pay TV, and Digital Media. http://www.parksassociates.com

Media Contact:
Rosey Sera
Parks Associates
972.490.1113
[email protected]

SOURCE Parks Associates