Home improvement stores rank No. 1 for smart home products

Home improvement stores are the No. 1 place for U.S. shoppers to buy smart home products.

Iris by Lowe's (NYSE:LOW) released the results of its annual Smart Home Survey and found that consumers would most likely choose a home improvement store because it's a retailer they can trust, 55 percent; that has knowledgeable staff, 40 percent; and carries a variety of products, 48 percent.

When it comes to purchasing considerations, cost of equipment and monthly fees as a deciding factor have decreased from 56 percent to 43 percent. The second most important deciding factor is ease of use, up to 19 percent from 13 percent in 2014. Energy and efficiency is also an important factor for 15 percent of respondents.

Two-thirds of U.S. consumers plan to purchase a smart home product someday, and 17 percent within the next year. Parents with children under the age of 18 are nearly three times as likely to purchase a smart home product in the next year as those without.

"We constantly aim to further understand the ways in which people evolve right along with smart homes," said Mick Koster, VP and general manager of Iris Home Systems. "This year's results show us the cost of smart home products is becoming less of a roadblock for consumers than in the past, and they are more inclined to purchase from retailers they can trust.

"Insight around consumers' attitudes toward home automation supports our year-round efforts to deliver better value with Iris, and ultimately offer the best possible technology and products to help homeowners love where they live."

For more:
-See this Lowe's press release

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