“Companies will continue to adapt by finding new suppliers, adjusting product pricing, managing inventory more efficiently, and possibly rethinking entire supply chain strategies,” reports Elizabeth Parks, president and CMO of Parks Associates. “The new normal includes the continued rise in costs around materials, transportation, and labor seems to be becoming a more permanent fixture, impacting the bottom line.”
Optimism continues to abound about the potential of the Matter smart home standard. Parks Associates says 37% of U.S. internet households currently shopping for smart home products consider Matter certification to be important or even critical in their purchase decision.
“Consumers are increasingly looking for comprehensive offerings that go beyond hardware,” explains Parks. “Subscription-based services such as cloud storage, remote monitoring, and enhanced features are now critical differentiators. Companies are capitalizing on service revenue as a significant and stable income stream while solidifying customer loyalty.”
From the article, "2024 State Of The Industry: Guarded Optimism" by Stewart Wolpin
According to research firm Parks Associates, one-third of Apple iPhone owners still have a model that is more than two years old, compared to 30% of Samsung phone owners. The arrival of a new Apple...
MUMBAI: Usage of authenticated video viewing, or TV Everywhere, reached 40% of US pay-TV consumers in 2015, up from 22% in 2013, according to new research from Parks Associates. The percentage of r...
That trend, to start making customers pay to access data, dovetails with research found by Parks Associates earlier this year, which noted that new smart home security customers spend about $55, on av...
First IoT Purchase? Security Cameras. Internet-connected security cameras are likely the first smart home purchase consumers make. So says a report from Parks Associates which notes that 9 percent of...
