STUDY: Connected device usage increases in 2022 while consumers look ahead with caution
07 Junho 2023 - 9:30AM
Business Wire
Majority of consumers would be more likely to
purchase tech if offered protection and support services
Assurant (NYSE:AIZ), a leading global business services company
that supports, protects and connects major consumer purchases,
today reveals findings from its latest Connected Decade research.
The research reveals the continued rise in connected living, with
growth in connected device usage and an increased appetite for 5G
devices.
Assurant’s latest Connected Decade research explores U.S.
consumers’ attitudes towards connected devices during 2022.
According to the research, there was a 39% increase in device usage
last year, where the majority of consumers surveyed (60%) connected
at least one new or replacement device to their Wi-Fi for the first
time.
But while device usage is on the rise and 5G has been a catalyst
for driving smartphone upgrades during the past year, U.S.
consumers facing inflation and the global cost of living crisis are
cautious in their approach to spending on connected devices this
year. According to the study:
- Only 39% of consumers are likely to upgrade their smartphones
in the coming year, compared to 54% in the previous year.
- Only 30% of consumers are very likely to buy a newer model of
their connected devices when the latest version is released — a 23%
decrease from 2021.
- 60% of consumers have already upgraded to a 5G-capable
smartphone or are willing to upgrade their device to get 5G
capability. This compares to 36% the year before.
“It’s great to see the increased device usage and addition of
new devices in the home in the wake of the heavy investments
consumers made in connected devices during the pandemic. It clearly
shows just how reliant we have become on our devices and the
benefits that connected living provides,” said Jeff Unterreiner,
President, U.S. Connected Living at Assurant. “As consumers hold on
to their connected products for longer in the face of economic
uncertainty, service providers and retailers have an opportunity to
deepen relationships by offering support and protection solutions
that give customers reassurance and peace of mind.”
Assurant’s research also shows that consumer consciousness and
the desire to be more sustainable are creating growing demand for
refurbished devices. While 35% of consumers were highly interested
in buying a refurbished device, almost half (48%) expressed a
willingness to pay an optional monthly fee that would support
environmental sustainability initiatives.
“We all share a responsibility to ensure that sustainable
practices are integrated into the entire device lifecycle. As with
smartphones, trade-in and asset value recovery programs can make a
big impact across the connected living ecosystem. What’s great
about these programs is that the outcome benefits everyone –
consumers, providers, manufacturers and the environment,” continued
Unterreiner.
As connected living grows, so too does a desire among consumers
for helpful technical support, and protection of their connected
devices:
- 58% of consumers experienced frustrations with Wi-Fi connected
consumer electronics or appliances.
- 58% of consumers who are likely to buy a connected product in
the future would be more likely to purchase if offered a
value-added service (like an extended warranty or device
protection) to complement the purchase.
“It’s no surprise that consumers want helpful support in setting
up these devices, integrating them into their home networks and
troubleshooting any issues that arise. And as we’ve seen in our
past research, the more people use connected devices, the more
value they place on device protection. Having warranties in place
helps to ensure people can stay connected if something breaks down.
Not only does this present an opportunity to OEMs and retailers who
can offer value-added services as part of the sales process, but
doing so will improve upon the customer experience,” added
Unterreiner.
Assurant’s Connected Decade research is an annual survey
examining consumer attitudes around connected devices, homes and
vehicles, and how those insights impact service providers,
retailers and manufacturers. The report reflects responses from
1,000 owners of Wi-Fi and mobile devices in the U.S. with response
data captured using web surveys in December 2022. The full report
is available to download here.
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About Assurant
Assurant, Inc. (NYSE: AIZ) is a leading global business services
company that supports, protects and connects major consumer
purchases. A Fortune 500 company with a presence in 21 countries,
Assurant supports the advancement of the connected world by
partnering with the world’s leading brands to develop innovative
solutions and to deliver an enhanced customer experience through
mobile device solutions, extended service contracts, vehicle
protection services, renters insurance, lender-placed insurance
products and other products.
Learn more at assurant.com or on Twitter @Assurant.
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version on businesswire.com: https://www.businesswire.com/news/home/20230607005177/en/
Media: Andy Mus Director,
External Communications andy.mus@assurant.com
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