New Tech and the Retail Market
We’ve been working closely with a number of Smart Home brands and have been part of an industry committee discussing how as a market we can bring Smart Home Technology to the masses.
Currently the market is very much in the early adopters phase, however in spite of high advertising spend and PR it has still yet to mature into mass consumption. This comes down to the end customer and where they expect to purchase these types of products.
The classic assumption would be standard retail, however with the range of features in a standard smart home product and the nervousness of installing it into the home, customers are looking elsewhere to purchase these types of goods.
Smart Home Preferred outlets
(Context Market Research 2016)
This was a watershed moment, our previous tactics were incorrect and we were pushing too hard in an area customers where not ready for. Now this list includes participants from France and Germany, if it was just the UK then “specialist tech retailer” would be much lower on the list.
This data has really changed how we approach our go to market strategy with our Vendors. We now tailor each GTM to each client offering a range of alternative verticals not only to ensure good growth and sales, but by helping them in these markets where customers are expecting to buy the product, we can help grow brand recognition in retailer.
Our Vendors become a trusted brand used by pro-installers which helps build that consumer confidence to buy more of their product through retail.
We also go a few levels deeper by creating a marketing plan that allows us to engage the end installer and their end customers and encourage them to visit the pro-channel wholesaler we are working with.
Speak to us about how we can help you in the pro-channel and other alternative verticals.