Connected Consumers: “Can do” Versus “Should do” Thinking

December 2017

IoT is deepening the connectivity consumers are subjected to. We are heading towards an era where everyday decisions previously based on human intuition and experience are replaced by algorithms and machine learning, as AI is increasingly deployed to make sense of, commercialise and educate in the connected world. While the success of mobile connectivity is understood within “pull” innovation, are the wider domestic and city connectivity trends the same, or are these “push” innovations instead?

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Democratisation driven by Mobile access to information

Through the rapid expansion of connectivity, especially mobile internet, there has been something of a democratisation of access to information as a result and increasing evidence that mobile connectivity has been successfully commercialised. A further consequence has been the explosion in data connected to these interactions.

Pull Thinking

Mobile connectivity, although it experienced a shaky start, has expanded very rapidly and globally, underpinning the validity of the “mega trend” and driving industry responses to evolving consumer demand.

Push Thinking

Conversely, new products and services are continually developed by dynamic innovative companies and unleashed on the market disrupting consumer perceptions.

Strengthening Smart Homes market foundations

Growth in the connected appliances market for the smart home, has been restricted by the high costs and limited connectivity of “Push” style innovations. Improvements to infrastructure, software and falling costs are now driving broader consumer interest in connectivity through the home.

Government drives the market through infrastructure upgrades

While some “push” innovations by manufacturers have seen limited returns, governments’ policies, while not without problems, have had more success pushing though infrastructure upgrades. Smart grid and smart city developments driven by government, now directly contribute to the promotion of new technology; government is now a more vital link, underpinning growth of mobile connectivity.

Introduction

Megatrend analysis at Euromonitor International
Megatrend framework
Connected Consumers is one of our eight focus megatrends
Key findings
Expansion of connectivity
Three states of connectivity
“Can Do” versus “Should Do” thinking
Finding the positive emotion: push gives way to pull
High-profile push technology misses

Cities

Pushing with a stronger “arm”
The state of push technology
Smart meters
UK projected 100% smart energy meter adoption by 2021
Broad impacts of installation
Disaggregation
Broad impact on associates
Global smart meter deployment

People

Giving the people what they want
Six key factors driving global mobile connectivity
Replacement cycle
Infrastructure
Classic leapfrog technology
Ownership challenged
Mass customisation
Pricing
Commercialisation
Mobile first commerce
“AI processing power” proliferating mobile devices, not just clouds

Home

Six key domestic connected and interconnected ecosystems
Connected appliances
Giving the people what they want?
Replacement
Pulling power: death of ownership
New homes
Infrastructure: developing world frozen out
Global installed penetration- washing machines
Infrastructure: developed world melting down
Infrastructure: pull of domestic AI
Domestic assistants (AI): localised processing power
Attention deficit
Mass customisation: modularisation
Mass customisation: software updates
Pricing: “Hero” products
Ownership: Miele Blue Horizon
Commercialisation
Push remote control gives way to soul
Commercialisation: UK annual household expenditure on food
Food and emotions
Commercialisation: Hello Fresh
Commercialisation: home delivery
Commercialisation: Hello Mykie
Hello Fresh inside BSH’s Healthy Eating System
The future of domestic IoT : orchestrating domestic processes
The future will be driven by two clear principles
Consumer lifetime value
Dreaming the impossible dream
Future form and the end of apps
Consumer interface
A heart of darkness
Self interest to prevail
Measure and countermeasure
A sign of things to come
A necessary push

Conclusion

Connected Consumers in brief
Leverage the power of megatrends to shape your strategy today
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