Study: Smart TV, Speaker/Display Purchase Intent Spiked During COVID
Smart TVs and smart speaker/displays were among growth leaders in purchase intent for connected entertainment product categories over the course of the COVID-19 pandemic, according to a new study analysis from Parks Research.
The market research firm’s Consumer Insights Dashboard gathered from its quarterly surveys of 10,000 U.S. broadband households, showed Smart TV purchase intent was up 56% while smart speakers/displays climbed 53% to lead all connected home devices and services over the crisis period.
“Big announcements in the smart TV space by Amazon and Comcast are evidence of where the home entertainment market is headed,” stated Paul Erickson, Senior Analyst, Parks Associates. “TVs are now consumers’ most common video centerpiece in the home, and technology powerhouses are vying to own this point of entertainment aggregation – and all the data that goes with it – by controlling the platform itself. The competition now is not just about providing access to entertainment, it’s also about adding increasing value to the platform through features such as voice assistants, smart home integration, and better user experiences. Smart TVs are now seen as a key anchor device for ecosystem penetration into today’s broadband households.”
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Digging deeper into the data from the Dallas, Texas-based firm showed elevated purchase intentions at the beginning of the year for a variety of entertainment and productivity devices due to increased time spent at home.
This is unusual since first quarter purchases are often low due to post-holiday seasonality, however, in the pandemic consumers’ perceived value of connected entertainment devices boded well for future purchase intentions of all connected home entertainment products and services, the study data reveals.
“Consumer electronics device manufacturers are best served by product strategies accounting for consumers’ increased use of devices at home for work and streaming entertainment purposes,” according to Erickson. “While mobility remains important, consumers now see renewed value in at-home work and lifestyle use cases.”
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By Greg Tarr
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