Thursday, July 09, 2020

Households with children dominate consumer tech purchases

Ninety percent of households with children at home subscribe to at least one OTT service

New consumer research from Parks Associates finds households with children, particularly those ages 6-11, are the leading demographic groups for technology product and entertainment service purchasing. Households with Children: Dominant Tech Purchasers finds 38% of US broadband households with children plan to buy a smart video doorbell over the next 12 months, compared to 14% of households without children. Ninety percent of households with children at home subscribe to at least one OTT service.

“About 30% of broadband households have children at home, which translates to 32 million households. In general, households with children are young enough to be receptive to smart home technology but old enough to have the income and educational levels associated with smart home adoption,” said Jennifer Kent, Senior Director, Parks Associates. “They self-identify as ‘Innovators’ (i.e., they like to purchase a new product early in its lifecycle) at more than twice the rate of broadband households. Combining this strong technology affinity with the need to buy products for their children creates a powerful tech-buying segment.”

Key factors that could inhibit future adoption are the COVID-19 outbreak and resulting financial impacts. One-half of US broadband households with children at home worry about their financial stability, and 61% are more cost-conscious because of the COVID-19 outbreak.

“It is important for the device makers and service providers to emphasize the essential value in their solution, such as safety and security, although entertainment is also critically important for households with children,” Kent said. “New content offerings for OTT services that highlight children's content or educational content will help keep this group engaged, especially as we continue to see some states encouraging or mandating consumers to stay at home.”

Households with Children: Dominant Tech Purchasers examines this key segment, their desires and attitudes, current ownership rates, and planned purchases, as well as the personal and economic impact of COVID-19.

For information on Households with Children: Dominant Tech Purchasers, contact sales@parksassociates.com. To schedule an interview with an analyst or to request specific research data, please contact Rosey Ulpino at rosey@parksassociates.com, 972.996.0233.

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 35th 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

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