The technology trends identified in Accenture’s 2014 Digital Consumer Technology Survey show that consumers continue to explore many different device types, formats and combinations. Consumers are not limiting themselves to a few multifunction devices, but instead have increased the number of digital devices. Wearable technology, digital trust and increased usage of apps are all trends that bear watching in 2014.
The 2014 study is based on a survey fielded in the fall of 2013 of more than 6,000 consumers in six countries. Find out what consumers are interested in buying.
For seven consecutive years, Accenture research has studied preferences for consumer electronics products and services. The 2014 study is based on a survey fielded in the fall of 2013 of more than 6,000 consumers in six countries. It presents this year’s research findings and technology trends and discusses the implications for companies as they navigate this open market and work to win the hearts and wallets of today’s increasingly connected digital consumers.
The increasingly dynamic market represented in this year’s consumer electronics purchase and use data is exemplified in the following trends:
Consumers crave more devices—even if they already have a stable of consumer electronics, many consumers have plans to purchase more categories of devices in addition to purchasing more in the categories they already own.
Growing interest in wearable technology—large proportions of consumers surveyed indicated interest in devices like smart watches and wearable smart glasses, despite these devices not being widely available commercially.
Health and Fitness becoming a focus—consumers were widely interested in health or fitness monitoring functionalities, either from dedicated devices or apps on multifunctional devices. “Appification” was a strong trend for other categories as well.
Many consumers, especially early adopters, are willing to negotiate on digital trust—more than half of consumers surveyed were willing to share personal data in exchange for improved services or discounts as long as some basic rules apply.
The research indicates that consumers are creating highly personalized constellations of digital products and services. The empowerment of the digital consumer to create this level of personalization has significant implications for the strategies, customer interactions and innovation choices of consumer electronics companies.
Ensure your strategy aligns to the needs of the empowered digital consumer. Device makers must understand explicitly how they fit into the digital constellations being created by discrete customer segments. Consumer technology companies must ensure they understand how consumers are building their preferences and how products and services fulfill the needs of each consumer segment.
Create a dynamic and interactive relationship with consumers. Consumers want a two-way relationship with their technology providers where there’s a mutual exchange of value. Consumer technology companies must develop a rich engagement strategy where both parties give and receive value. This engagement strategy will likely be different for each customer segment.
Invest in an aggressive product innovation and product release strategy. Consumers are looking for innovation and excitement across consumer electronics in everything from smartphones and tablets to more emerging categories. Now is the time for providers to aggressively invest in product innovation.