How Income Impacts Interest in Smart Home Devices
Following on from yesterday’s chart looking at smart home products in the U.S.A., today we put a spotlight on how levels of income influence interest in this new technology.
Across all smart home devices, consumer appetite is much more pronounced in the top 25% for income. Amazon and Google have looked to broaden smart home engagement with holiday discounts on their Echo and Home devices, but it’s still the affluent early adopters in the top income bracket who are much more likely to be interested in smart assistants.
Marketers would benefit from portraying such products with a use-case as affordable and necessary additions to consumers’ daily routines, rather than luxury gadgets. The price of entry to a smart home experience may be lower than ever, but the perception that smart home products are only for a select group needs to shift as well.