The stats are impressive: Smart-home tech has already invaded 21 percent of all U.S. homes, and another 36 percent are considered viable customers.
So says a recent Strategy Analytics study, demonstrating what many retailers already know — a growing number of consumers are curious and eager to give home connectivity a go. What is perhaps most encouraging is that this readiness crosses both the age and gender divides, according to the study. Green Nesters (married families with multiple smartphones and tablets) represent 16 percent of that 36 percent most likely to purchase smart-home tech. Impressers — mostly younger women in higher-income homes — encompass 13 percent, while millennial males without children represent 7 percent.
This is not to say that the category isn’t without challenges; many consumers are frustrated and confused about interoperability and varying standards, and they remain skeptical about its usefulness. As prominent brands like Apple and Samsung enter the category, however, awareness continues to grow.
“The retail channel is growing the fastest as technology-driven consumers use the web and YouTube to configure and install devices into their smart homes,” said Mareca Hatler, research director at On World, an IoT market research firm. “Our demographic research shows that millennials want smarter homes for safety and security, and baby boomers want to use it for elderly care and home energy management.”
This intersection of convenience and security can be implemented in nearly any room in the home, as our TWICE@Home feature demonstrates, and it has near-limitless potential for retailers willing and able to provide the necessary consumer education.