Amazon isn’t the only one shopping for smart home security devices--US sales up 121.7 percent
The competition between smart home security gadgets is heating up as the products gain more traction, and as a new challenger has stepped into the ring, awaiting the bell.
Amazon, this new competitor, is on the verge of doing big things with smart home security after its recent acquisition of the video doorbell company, Ring. According to new data from Slice Intelligence, smart doorbells, smart locks, and home cameras saw revenue growth of 121.7 percent in February of 2018 when compared to February 2017. The company driving this growth? Ding, ding, you guessed it: Ring.
As online sales grow 121.7 percent year-over-year
Cameras and smart doorbells had an especially good November, as manufacturers offered attractive promotions, and stories about ‘Porch Pirates’ picked up steam. While the revenue and number of units sold came back to Earth after the holiday, the gadgets remain popular, with unit sales up 125 percent in February 2018 compared to February 2017. Home security cameras are the most popular smart home device among the three, selling more units than smart doorbells by 347.7 percent, and smart locks by 124.6 percent.
Home security is getting smarter, one device at a time
While many of these devices can be had at affordable price points, 83 percent of smart camera buyers and 84 percent of smart lock buyers bought just one device. Buyers spent an average of $171.10 on smart cameras and $159.05 on smart locks.
In yet another emerging market, it’s Amazon vs. Google
In this study of smart home security devices, we analyzed six brands in particular: August Smart Lock, Dropcam, Nest (Google), Ring, Schlage, and Wyze. Among those six, the Nest family of smart home devices is the most popular online, accounting for 38 percent of units sold. Ring is pecking at their heels at 35 percent.
Despite being new to the six-brand race
The question of the day is whether Amazon’s acquisition of Ring helps the smart doorbell pull away from Nest, which recently launched its own doorbell product. And what does Amazon’s recent announcement that they will no longer be selling Nest products directly on their website, mean for the future of the smart home security device?
“By ceasing sales of Nest products on Amazon.com after the acquisition of Ring, Amazon is showing its hand,” said Ken Cassar, principal analyst, Slice Intelligence. “Amazon is prioritizing its role as product-maker over its role as retailer. This move creates opportunities for competing retailers to fulfill consumer demand for Nest’s products, without competition from the biggest e-commerce player in the U.S..”
About this data
With a panel of over 5.5 million online shoppers, Slice Intelligence gives the most detailed, and accurate digital commerce data available, and is reported daily.
Slice Intelligence is the only service to measure digital commerce directly from the consumer, across all retailers, at the item level, and over time. Our retailer-independent methodology precisely measures commerce as it happens. By extracting detailed information from hundreds of millions of aggregated and anonymized e-receipts, Slice can map the entire Purchase Graph, connecting each and every consumer to all their purchases.
Slice gets its data from e-receipts – not a browser, app or software installed by the end-user – so its measurement reflects comprehensive shopping behavior across multiple devices, over time, which are key in an increasingly omnichannel retail world. Slice Intelligence is the exclusive e-commerce data provider for NPD’s Checkout Tracking e-commerce service.