New research mapping the process of buyer smart home equipment shows that consumers value the experience of seeing and using a product in-store before making purchasing decisions.
Smart Home Products: Mapping the Buyer Journey, a new research paper from Parks Associates, shows a more savvy shopper, who does their research online from multiple sources before coming in-store to demo the products.
“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 shows that more than half of internet households have a smart speaker, with around 15 per cent having a smart video doorbell. Security system apps are the most common tool for controlling multiple smart home products within a single system.
In terms of uptake, there is a huge rise in interest for households with incomes over A$110,000 a year, however lower-end products are on the rise.
“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.”
The pending introduction of smart home standard Matter later this year will no doubt accelerate uptake, as the system is simplified across the board.
