Over three quarters of consumers surveyed in Latin America’s leading economies say they want to know more about Smart Home products, according to CONTEXT’s new survey. With no one retailer dominating the Smart Home market in the countries surveyed, this potential demand for the new global wave in technology products and services presents significant opportunities for the IT channel in Latin America.
Carried out in January 2017, the CONTEXT Survey was announced at the Global Technology Distribution Council Latin American IT Distribution Summit in Miami, USA, and covered 2,000 consumers in Brazil, Mexico, Argentina and Chile.
The general picture for Smart Homes in these countries with a combined GDP of $USD4.4TN is good, with an encouraging level of awareness. However, it is clear that this awareness is not rooted in a deep understanding of the concept. This is partly down to limited exposure to Smart Home products or ideas, with very few people seeing or hearing things about Smart Home on a regular basis.
Such limited exposure is hardly surprising, given that no one channel is doing a good job of explaining or showcasing the concept. Where people have picked up on Smart Home, it tends to be from online sites – both retailers’ and manufacturers’ – rather than from in-person contact via things like store displays. This limits the degree to which consumers can interact and engage with Smart Home products.
As well as highlighting the opportunities, the CONTEXT Survey found that worries surrounding the idea of the Smart Home are prevalent, with 9 out of 10 people having at least one concern. Some of these are serious, including views that products may malfunction, causing harm or damage to the home. Privacy concerns and a fear of identity theft are also high on the list of worries.
When asked what user scenarios were encouraging them to buy Smart Home products, the top three responses were “arriving home”, “waking up”, and “advanced security”. In terms of the Smart Home hubs people would be most likely to trust, the Survey found that while there are variations across different countries, Apple, Amazon and Google dominate. Amazon has a clear lead in Brazil, while Apple leads in Mexico and Chile. Google is in the lead in Argentina.
In summary, despite the lack of deep knowledge and the barriers this creates, the good news is that across all countries there is an appetite to learn more. This is especially in terms of how they can save money, and how they can make home living more enjoyable, easier and better.