Market Research Report
Smart Home Strategy: Capturing the Cost-Conscious Consumer
|Published by||Parks Associates||Product code||934263|
|Published||Content info||62 Slides
Delivery time: 1-2 business days
|Smart Home Strategy: Capturing the Cost-Conscious Consumer|
|Published: April 30, 2020||Content info: 62 Slides||
Consumers perceive smart home product pricing to be expensive for the value provided, creating a persistent barrier to purchase. The mass market will be captured through better understanding of the more value-conscious consumer who requires a different marketing strategy than early adopters and affluent households for whom price is less of a barrier. This consumer study explores the price elasticity of the leading smart home device categories, what value-added features or incentives can drive purchase, seasonal purchase patterns, and which channels value-conscious consumers prefer.
At Least One Smart Home Device Purchased in
Past 12 Months by Spending Segments
“A quarter of broadband households fall into the Careful Spenders category. These households consistently take advantage of opportunities to get good prices or good value. They are also the highest buyers of digital home products, including smart home devices.” - Tricia Parks, CEO, Parks Associates.