DALLAS, Feb. 5, 2019 /PRNewswire/ -- New research from Parks Associates finds smart speakers inspire strong brand loyalty among owners—97% of smart speaker households own only one brand in this device category. 360 Deep Dive: Consumer Demand for High-End Entertainment Devices reveals two-thirds of smart speaker households own an Echo device, while almost one-third own a Google Home. Low-end models such as the Echo Dot and Google Home Mini are the most common products owned, but the trend of brand loyalty in this early market creates opportunities for device makers to upsell premium products.
"More than 50% of U.S. broadband households bought at least one CE product in the past year, and close to one-third (16% of all U.S. broadband households) spent more than $1,000 on CE purchases in that time," said Kristen Hanich, Senior Analyst, Parks Associates. "These top and high spenders are willing to pay a premium for high-end products and can be drawn to products that will impress their friends and neighbors. Ownership of many high-end devices overlaps, particularly among newer product categories such as smart speakers or high-end tethered VR systems, so device makers can follow the demographics to target these top-dollar consumers when designing and promoting their premium-tier products."
Consumers who spent over $1,000 in the past 12 months on CE products, defined in Parks Associates' segmentation as "Top Spenders" and "High Spenders," also report the highest intentions to purchase products in the next twelve months. Purchase intentions are highest with regards to laptops, televisions, smart speakers with voice assistants, streaming media players, and soundbars.
"Smart speaker owners are increasingly adopting multiple devices in various rooms of the household," Hanich said. "Device makers can leverage this tendency toward repeat and extra purchases to bundle new and premium products with smart speaker sales."
360 Deep Dive: Consumer Demand for High-End Entertainment Devices measures the adoption and use of high-performance video, gaming, and audio devices among U.S. broadband households and the related content services used by owners of these platforms. It also presents an investigation of purchase motivations, buyer urgency (current vs. future purchasing), and options for device makers to drive greater adoption.
Additional research includes:
20% of streaming media player households own and use products from two different brands.
Over 55% of soundbar owners have premium features such as HD audio and Dolby Atmos.
For information about 360 Deep Dive: Consumer Demand for High-End Entertainment Devices, contact [email protected]. To schedule an interview with an analyst or to request specific research data, please contact Julia Homier at [email protected], 972-996-0202.
About Parks Associates
Parks Associates is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates creates research capital for companies ranging from Fortune 500 to small start-ups through market reports, primary studies, consumer research, custom research, workshops, executive conferences, and annual service subscriptions.
The company's expertise includes digital media and platforms, entertainment and gaming, home networks, Internet and television services, digital health, mobile applications and services, support services, consumer apps, advanced advertising, consumer electronics, energy management, and home control systems and security.
Each year, Parks Associates hosts industry webcasts, the CONNECTIONS™ Conference Series, Connected Health Summit: Engaging Consumers, Smart Energy Summit: Engaging the Consumer, and Future of Video: OTT, Pay TV, and Digital Media. http://www.parksassociates.com