Signals Analytics, an advanced analytics platform that leverages external data to uncover market trends and predictive insights, is unveiling its Consumer Electronics Market and Category Overviews
NEW YORK – Feb. 2, 2021 – Today, Signals Analytics, an advanced analytics platform that leverages external data to uncover market trends and predictive insights, is unveiling its Consumer Electronics Market and Category Overviews. Ingesting data from more than 13,000 sources, the offering provides deep and cross-category analysis that helps business leaders understand what is driving innovation and consumer demand in order to identify and capitalize on white space opportunities.
The pandemic changed how people connect with family and friends, how they shop, and where they work, and all of these changes have created a stronger reliance on personal technology. In fact, data shows that consumer electronics companies had higher profits in 2020, which is reflective of consumers’ continued purchasing of electronics.
“In recent years, no industry has experienced innovation at such an unprecedented rate as consumer electronics. While household name brands are continuing to introduce new products to meet consumers’ evolving news, market entrants are also seizing the opportunity to create an impact on consumers’ daily lives and disrupting the space with smart innovations. As such, we’re seeing greater saturation in the market which puts more pressure on companies to provide products that break through the noise and are essential to how people are living their lives. They must also make sure that their messaging aligns with the core needs and values of today’s consumers. Signals Analytics’ new Consumer Electronics solutions enable manufacturers to pinpoint exactly which product benefits consumers are prioritizing and what is on target customers’ minds, and then cater offerings to fit those needs,” said Guy Cohen, Chief Product Officer at Signals Analytics, which recently entered into an agreement for its acquisition by Kenshoo.
Today’s Market Opportunities for Consumer Electronics Brands
Signals Analytics was recently acquired by Kenshoo, a leading marketing activation and measurement technology company with a healthy concentration of customers in the consumer electronics sector. Drawing upon the combined data of the two companies, Signals Analytics identified several key trends that consumer electronics brands can capitalize on now to gain competitive advantage.
- Consumers want more ways to monitor their health at home. Sleep tracking, heart rate monitoring, and blood pressure monitoring are all sustained trends, and saw a spike in consumer discussions early in the pandemic; social media chatter about heart rate monitors was up 626% in the last year, according to Signals Analytics’ insights. The platform also revealed consumers are dissatisfied with current product offerings in these categories, providing opportunity for brands to take advantage and introduce products that satisfy this demand.
- Increased screen time has created widespread concern about eye health. Signals Analytics found that eye health is an emerging benefit within patent applications; it is up 22% year-over-year and has also dominated discussions among key opinion leaders – up 240%. The demand for products that support eye health outweighs supply, so capitalizing on this trend can be lucrative for brands. In fact, the data shows companies with products that support eye health have better ratings on retailers’ sites which, in turn, has been proven to increase sales conversions.
- Sustainability matters to consumers – even for tech products. Year-over-year, product sustainability claims are continuing to increase, and at the same time, consumer discussions regarding environmental impact and sustainability have grown 151%. Signals Analytics found that of all sustainability related posts, there was only a 65% satisfaction rating, suggesting there is still room for brands to improve, particularly in sustainable home entertainment products.
How the Platform Works
Unlike other consumer markets, consumer electronics products have a long innovation cycle, making early trend-spotting imperative. Powered by patented natural language processing (NLP), Signals Analytics leverages predictive technologies that perform at greater than 90% accuracy – far above industry standards. With deep-dives for the below categories, brands in these spaces can make informed decisions about which products in a portfolio to push, and where and how to do it, knowing the insights they are using are accurate and relevant.
- Computers, Tablets & Cell Phones
- Camera & Camcorders
- Home Entertainment
- Car Electronics