Dramatic changes have taken place in the past few years for consumers because of the pandemic and remote work opportunities. Huge investments have been made into their home environments.

Consumers are moving houses or improving their current homes for a new lifestyle that includes increased reliance on technology and connectivity. The smart home industry responded by providing a myriad of ways to shop, buy, transport, and install smart home devices that makes having a connected home that much easier.

• New home buyers are finding smart devices pre-installed by builders or former owners who left the devices behind either as a perk for the buyer or with intent of upgrading for their next home
• While supply chain challenges persist, consumers hoping to renovate their homes are considering upgrades to smart versions of traditional home devices
• Companies like IOTAS, VANTIVA (Technicolor), and Homebase are working to make smart spaces in multi-family housing

Many smart home shoppers gathered rely on online information for their purchase decisions. Among all top smart home devices, the most common place consumers became aware of a device was either in-store or through a manufacturer's website. The next most common were reviews and user ratings followed by friend's or family's recommendations.

Shoppers collected product information from an average of 2.24 types of sources before deciding on a purchase. Information gathering online is common but experiences in the store are powerful in making the final decision. Point of sale sources of information were also major sources of information and influence in the purchasing process.

Conversions rate will continue to be a key performance indicator for e-tailers because the smart home shopper is clearly considering both online and in-person experiences in decisions. To maintain growth as consumers grapple with inflation, rising energy costs, shortage of essential items, and looming recession, smart home players will need to meet consumers where they are - online and in the store. Consumers will continue to demand access to information, different price points to choose from, and options for delivery and installation.

This is an excerpt from Parks Associates Consumer Study: Smart Home Products: Mapping the Buyer Journey. This flagship consumer study provides the latest data on smart home trends influencing consumer purchase behavior and preferences that provide critical intelligence for smart home business strategies. Topics include: smart product adoption and purchase intention across multiple product categories, segmentation profiles, purchase channels and installation preferences, voice and control platforms, buyer journey elements and user experience insights.

Key questions addressed:

• How is smart home device adoption trending overall and among specified product categories?
• How were recently added devices purchased, delivered, and installed?
• How was information gathered and decisions made for recent purchases?
• Within the device categories, which brands were considered and which are chosen?
• What smart home products do consumers intend to purchase in the future?

Thanks for reading our research work! We love to learn about new products and solutions entering the market. Please reach out to me or any of our team if you would like to set up a briefing. Our research work is proprietary and built over 40 years, led by a vision from Tricia Parks, our Company's founder, and my mom.

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