While the pandemic has increased household reliance on technology inside the home, new challenges are placing additional pressures on consumer relationships with service providers. The latest EY Decoding the digital home study reveals that more than half of consumers are concerned about potential price increases by broadband and pay TV providers. Furthermore, 38% are concerned about harmful content their household members may encounter online.
These concerns around price increases, in tandem with growing anxiety around online safety and data privacy, threaten to undermine the growing need for connectivity and content that has been apparent since the public health crisis emerged.
It is therefore vital for service providers to ensure that their value propositions are compelling and that their interactions with customers are as smooth and intuitive as possible. Higher levels of consumer confidence in their data privacy and protection credentials are just as important. Taken together, these attributes can help companies gain significant advantage as households assess their preferred providers during a period of unprecedented upheaval.
With this in mind, here are six key actionable insights from this year’s research:
1. The digital household is demanding and value-conscious
Demand for robust connectivity and winning content remains pronounced. More than 4 in 10 households say their internet connectivity, TV and streaming needs have increased because of the pandemic. Interestingly, 43% expect these needs to continue. However, the cost-of-living crisis is creating anxiety, with more than half of households concerned that their broadband provider (60%) and TV provider (55%) will increase monthly subscription rates. More than 4 in 10 are concerned that they already pay too much or aren’t offered the best deals.
Despite the concern around value, households want new and better experiences. A total of 37% say that the public health crisis has made them more interested in discovering new digital experiences, with 26% open to new possibilities of immersive internet experiences, such as the metaverse.