Tuesday, November 14, 2017

Nearly 50% of millennials / Gen Z plan to buy a smart home or CE device this holiday season

Video door bells and voice-enabled speakers are popular smart home gifts

Parks Associates’ holiday shopping research shows millennials will lead the smart home and CE purchasing the holiday season, with 46% reporting high intentions to buy at least one device and 36% planning to give one as a gift. The IoT research firm, which surveyed U.S. broadband households on their purchase intentions for this holiday season, found one-third of U.S. broadband households report a high intention to purchase a CE or smart home device this holiday season.

“Consumer marketing strategies and technology evangelism by Amazon and Google have created attention for smart home and connected CE devices, creating an opportunity for a big jump in these products this holiday season,” said Elizabeth Parks, SVP, Parks Associates. “Fourteen percent of U.S. broadband households intend to purchase a smart video doorbell, potentially driving this device to similar adoption levels of smart thermostats and connected lighting products. While consumer intentions aren’t always realized, these findings give a good indication of the coming impact of the holiday purchase season.”

Holiday Purchase Intentions: CE and Smart Home Devices | Parks Associates

The firm reports 9% of U.S. broadband households report high intentions to buy a voice-enabled device, such as an Amazon Echo, Google Home, Apple HomePod, or Amazon Look, and the most popular form factor by far is a smart speaker with personal assistant.

“Many of the shoppers planning to give a smart speaker with personal assistant as a gift already have one, which indicates positive user experiences,” said Jennifer Kent, Director, Research Quality & Product Development, Parks Associates. “Voice has become a strong differentiator in creating a compelling user experience, and it is driving wider adoption.”

The research firm also notes a strong correlation between high CE/smart home purchase intentions and Amazon Prime membership—40% of Amazon Prime members are very likely to buy at least one CE or smart home device this holiday shopping season.

More information about Parks Associates’ consumer research is available at www.parksassociates.com. To schedule an interview with an analyst or to request specific data, contact Julia Homier at julia.homier@parksassociates.com, 972-996-0214.

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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