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Subscriptions Are Key to Unlocking Smart Home’s Spoils

March 27, 2017 by morganm

After several years of head-spinning innovation and much pondering, retailers and manufacturers are starting to make sense of the smart home. Much of it revolves around monetizing the business through a recurring revenue model and the advent of voice control — most notably through Amazon’s Alexa artificial intelligence technology — as a common and consumer-friendly IoT platform.

That smart-home is on the minds of merchants is an understatement, as the subject consumed much of TWICE’s Executive Retail Roundtable this year. In this last of a series of panel excerpts, top industry retailers, distributors, buying group execs (and one leading industry analyst) tackle the connected-home category.

On the need for a new revenue model

Dave Workman, ProSource: The biggest thing, and one of our key initiatives this year, is to basically bring a recurring revenue model into this product.

TWICE: Will this be with a third-party partner?

Workman: This is a combination of everything. The key for the customer, whether it’s a very simple system or an elaborate system is there are a lot of diagnostics that can go on remotely. You can’t afford to roll a truck for somebody to put in a $500 Dropcam or repair a Nest thermostat if something goes wrong, and so there are services obviously, and we are working to try to combine it.

The industry will resemble the security industry where you have a low frontend ticket and ideally you get some sort of recurring revenue piece that comes into the model that allows the system to continue to operate. The key is how you develop the quality of the service that goes around that. It can’t just be in the event of a crisis we’ll be here. You have to bring value that customers see.

It has to be rebooted, and there are so many things that people don’t realize, like you have to unplug your cable box occasionally because it builds up resistive qualities, and all of that stuff that people just don’t realize. Those things can all be automated if done correctly. The companies are all working on it, and then there are call center tech supports like PlumChoice and some of the other names that you know. We are pretty excited, and we’re getting close to the finish line on the project.

The TWICE Executive Retail Roundtable. Standing from left: Alan Wolf, TWICE; Neal Martinelli, HSN; Mary Campbell, D&H Distributing; Dave Workman, ProSource; Fred Towns, New Age Electronics; Dene Rogers, RadioShack. Seated from left: Tom Hickman, Nationwide; Laura Orvidas, Amazon; Ryan Ciovacco, Sears Holdings; Steve Baker, The NPD Group [Read more…]

Filed Under: From the web Tagged With: alexa, amazon, CES 2016, Consumer Electronics, Fred Towns, new age electronics

New Age’s Towns Outlines 2016 Product Trends, Directions

February 19, 2016 by morganm

New Age Electronics rang in the new year at CES 2016 with a gala customer appreciation event, a series of new-vendor-partnership announcements, and a renewed commitment to filling its product pipeline with emerging technologies as well as with more traditional categories that are profit avenues for the retailers it serves.

At the event, New Age announced its selection of HSN as its 2015 Interactive Multichannel Retailer of the Year, for year-over-year revenue growth and for its innovative selling and product-presentation methods, and its choice of Kohl’s as Brick and Mortar Retailer of the Year. Read the full article on Dealerscope.com

Filed Under: From the web Tagged With: CES 2016, hsn, Kohl's, new age electronics, New Age Electronics Gala, Odyssey, razer, tech trends

Dealers Debate Connected-Home Pathways At Roundtable

February 19, 2016 by morganm

No one who attended CES 2016 needed glasses to see the writing on the wall: The connected home is real, and whoever figures it out first is in for a considerable payday. Read the full article on TWICE.com

Filed Under: From the web Tagged With: CES 2016, new age electronics, roundtable, TWICE

CES 2016 New Age Electronics Gala Photos

January 13, 2016 by morganm

Images from our 8th annual gala

[Read more…]

Filed Under: Event Photos Tagged With: 8th annual gala, CES, CES 2016, Consumer Electronics, consumer electronics show, gala, hakkasan, las vegas, MGM Grand, nae, nae gala, new age electronics, plain white t's, SYNNEX

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