Stu’s Views: Part 2 COLUMN


March 2024 ertonline.co.uk


12


Smart home – It’s now or never!


By Stuart Tickle, Managing Director at AWE F


or this issue, I’m looking at why adding value through installation is a wise move for electrical retailers looking to grow their business. Of course, you know this already as installing home appliances is common practice, let alone entire kitchens. Having been through the process in my own home recently, kitchens installations can be complicated!


But the good news is, you’re already one foot in the door. As “smart home technology” becomes more mainstream, the demand for professional installation services is huge and expected to rise significantly over the coming years.


According to CEDIA, the categories expected


to grow the most over the next 12 months are media rooms, home cinema, outdoor AV systems, and lighting/shading. Electrical retailers are well positioned to tap into this market by offering not only a wide range of products, but also a professional design, installation and maintenance service. Consumers of mid to high incomes are keen to work with experts on this. The question is, is that you? The key advantage that independent retailers have over the likes of chain and online retailers is local expertise, strong customer relationships and the ability to offer a truly exceptional service. This allows them to differentiate themselves in a competitive market and build on their reputation as trusted experts.


Diversifying into or expanding within this market opens the business opportunity for increased revenue streams and positions retailers as a one-stop-shop for all things smart home-related. As well as the value-added sale of something like a big screen TV, you can leverage existing skill sets in your business to offer home cinema projectors for movie nights and sporting events, enhanced audio systems to enhance the movie soundtrack, and home control solutions to make tasks around the home as easy as possible. Taking this one step further, as a local business you can be trusted to offer ongoing maintenance services, software updates and customer support, creating further opportunities. This not only boosts immediate profits but also fosters long-term customer relationships, as clients are more likely to return for all their future needs and upgrades. While there is a huge business potential


for moving into the integration market, there are also challenges. Technology is constantly evolving, so it’s important to invest in on-going training for your teams. As well as enhancing existing skills and learning new ones, professional development of your staff in this area can promote recognition and credibility for your business, as well as helping your team members to advance their career with you. Success in this market depends on your ability to adapt


to the fast-moving


technological changes in smart home, building your aftercare and support packages and offering a reliable installation service. It’s within reach and it’s worth it to have a slice of this £2.9 billion* UK market! A key date for your diary is our AWE Expo, taking place on 14-15 May at our HQ in Epsom. This is a showcase of innovations from our partner brands, with technology displayed in situ throughout the AWE Show Apartment – which includes two cinema rooms, a media room (pictured left), games area, music room and more. It’s an opportunity to experience the performance and possibilities of a range of solutions and see what’s achievable for varying client budgets. You can also speak to smart home experts, have your questions answered and gain advice on building a robust smart home business. Head to awe-europe.com to secure your place. Another resource for electrical retailers is CEDIA, which has developed two new education packages – Smart Home Technician Essentials and Smart Home Technician Further Skills. They are a great starting point for electrical retailers moving into smart home.


*Source: CEDIA UK Professional Smart Home Market Analysis 2023.


A notable area of growth for us here at AWE has been dedicated control solutions that bring connected devices together. We work with URC, an affordable yet powerful and scalable control solution – it’s a great entry- level solution for introducing smart home control to customers. Scalable solutions, such as the Expressway Software and Processor from URC, provide a straight- forward sell-in opportunity that can be scaled-up with added services in the future – starting at just £500.


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