Smart-Home Market; Email Conversions, AI 

The numbers you need to know today

April 10, 2018

Smart Homes: High prices might be limiting sales of smart-home devices. According to a 151 Advisors survey, 41.5% of US consumers said price was a significant factor in weighing whether or not to buy these products. Over a quarter had considered buying a smart lock but declined to do so because of price, while 23.5% said the same about smart thermostats and 21% about smart speakers. A little more than half said $40 extra would be the threshold for choosing a smart lock over a conventional one. 

Email Benchmarks: In a retail email benchmark study from Bluecore, open rates were high (over 40%) for emails reminding shoppers they had looked at an item or abandoned a cart. These emails also led to sales 2% of the time. Messages relating to tech and food or leisure products had the highest conversion rates, both in the 11% to 12% range. Only 10% of retailers send emails when an out-of-stock product is available again, the study found. 

AI? A-OK: According to SAS, 47% of shoppers are comfortable with the use of artificial intelligence (AI) in business interactions. What this means specifically is that 48% would be OK with drones delivering packages, 40% wouldn't mind an in-store promo based on their location, and 36% think it's fine to access payment info on a smartphone in a cashier-free store. Shoppers were split nearly evenly on retailers making recommendations based on past purchases: Some 51% didn't like it, while 49% thought it was OK.