Are consumers ready for the Internet of Things (IoT)?

October 20 2017

Author: Natalie Jacks

Nearly half of U.S. consumers are comfortable with connected devices shopping on their behalf, new report finds.

Connected devices may soon become embedded in just about every corner of society. However, the adoption of such devices amongst consumers will largely depend on striking the balance between convenience and security.

To better understand consumer sentiment surrounding the advancement of connected devices and the Internet of Things (IoT), Worldpay surveyed more than 20,000 consumers across 10 different countries in its new Connect Consumers research.

Here’s what the U.S. respondents had to say.

Welcoming greater convenience

Consumers crave convenience – and connected devices, such as Amazon Echo and Google Home, can help provide just that. Thirty-five percent of consumers would “probably” or “definitely” consider using a virtual assistant to perform a simple task while 48 would allow a connected device to order something without asking. This number jumps to 62 percent for millennials.

Shoppers hoping to speed up the purchasing process also stand to benefit from new technology. Chatbots, for example, may one day use machine learning to anticipate a consumer’s needs. Meanwhile, 3D body scanners could all but eliminate the need to try on clothes before making a purchase.

Raising privacy concerns

Privacy and security concerns have made some consumers think twice before adopting connected devices. For example, only 37 percent would allow a virtual assistant to access to their payment information.

Consumers are also wary of sharing personally identifiable information with connected devices. Almost three quarters of respondents expressed concerns that smart device manufacturers might share their personal data while more than half said they would not want a connected device to collect data about them in their own home.

New technologies, such as customer service chatbots, connected devices and artificial intelligence, routinely collect information to better tailor their services and make decisions in the best interest of consumers.

By demonstrating a willingness to address security concerns, and keep convenience for customers top of mind, businesses can continue to cultivate the support needed to make connected devices an increasingly important part of daily life.

To learn more about the changing perceptions regarding the IoT and connected devices in the U.S. and around the world, download a copy of the full Connected Consumer Report.

 

 

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