Ninety percent of households with children at home subscribe to at least one OTT service
New consumer research from Parks Associates finds households with children, particularly those ages 6-11, are the leading demographic groups for technology product and entertainment service purchasing. Households with Children: Dominant Tech Purchasers finds 38% of US broadband households with children plan to buy a smart video doorbell over the next 12 months, compared to 14% of households without children. Ninety percent of households with children at home subscribe to at least one OTT service.
“About 30% of broadband households have children at home, which translates to 32 million households. In general, households with children are young enough to be receptive to smart home technology but old enough to have the income and educational levels associated with smart home adoption,” said Jennifer Kent, Senior Director, Parks Associates. “They self-identify as ‘Innovators’ (i.e., they like to purchase a new product early in its lifecycle) at more than twice the rate of broadband households. Combining this strong technology affinity with the need to buy products for their children creates a powerful tech-buying segment.”
Marketing Technology News: Genesys Names Marylou Maco New Head of Global Sales and Field Operations
Key factors that could inhibit future adoption are the COVID-19 outbreak and resulting financial impacts. One-half of US broadband households with children at home worry about their financial stability, and 61% are more cost-conscious because of the COVID-19 outbreak.
“It is important for the device makers and service providers to emphasize the essential value in their solution, such as safety and security, although entertainment is also critically important for households with children,” Kent said. “New content offerings for OTT services that highlight children’s content or educational content will help keep this group engaged, especially as we continue to see some states encouraging or mandating consumers to stay at home.”
Marketing Technology News: Incubeta Launches Free Advisory Sessions to Brands
Households with Children: Dominant Tech Purchasers examines this key segment, their desires and attitudes, current ownership rates, and planned purchases, as well as the personal and economic impact of COVID-19.
Marketing Technology News: ATTOM Data Solutions Acquires Home Junction
The post Survey: Households with Children Dominate Consumer Tech Purchases, Especially Through OTT appeared first on MarTech Series.