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One Fifth of Brits Willing to Invest in a Connected Home

Tim Maytom

Nest-Connected-Thermostat-M2M-Internet-of-ThingsNearly a fifth of Brits would like to install smart devices in their homes, and have no concerns about doing so, research has revealed.

The research by field marketing agency Gekko showed that 50 per cent of Brits consider improvements in their quality of life as the biggest deciding factor when it comes to making a purchase decision, with people willing to pay on average an extra £60 for a device with smart technology if they perceive it will improve their life.

Smart thermostats were the most popular devices, with 44 per cent of interviewees keen to invest in such a product. Lighting control systems and smart TVs followed slightly behind, and the overall trend seemed to be that products that had the potential to save consumers money on energy bills were popular.

There was also a strong correlation between device popularity and how much extra consumers were willing to spend. For smart thermostats, 41 per cent of consumers were willing to pay an extra £100 compared to a standard product, while for smart fridges, which only 25 per cent of consumers were eager to buy, only 30 per cent were willing to spend an extra £100.

The research also showed that, with up to 30 per cent of the UK still without fast broadband coverage, 31 per cent of people would be willing to pay an extra 0.5 per cent on an average priced home if it was fitted with the fast broadband necessary for smart devices.

"Our research highlights that there is a strong appetite amongst consumers for owning smart devices, and yet many need education on their use and set-up" said Daniel Todaro, managing director at Gekko Group. "With human interaction and face-to-face communication still hugely important in the purchasing journey, brands need to capitalise on this by developing their in-store strategies with specially trained in-store brand ambassadors.

"The ultimate winners of the connected home will come down to those who can provide a balance of security and privacy, whilst being reasonably priced with useful functionality."