SOURCE: Lux Research

Lux Research

March 15, 2016 07:30 ET

"Internet of Everyone" Poised to Transform How Companies Relate to Customers

The Internet of Things Will Expand the Quantified Self Beyond the Individual, to Homes, Cars, and Cities, Changing the Way Companies Relate to Consumers, Says Lux Research

BOSTON, MA--(Marketwired - Mar 15, 2016) - The growth of the Internet of Things (IoT) will build on the quantified self (QS) movement to transform the ways that companies engage with their customers -- and how customers engage with them, according to Lux Research.

In the march towards ubiquitous and universal connectedness, a wildly diverse array of IoT devices will integrate with ecosystems run by technology giants, impacting traditional consumer ties. By 2025, it will be an Internet of Everyone, upending existing marketing strategies and consumer relationships.

"Surveillance technology, science fiction and the quantified self movement give a preview into how mainstream consumers will use personal IoT devices in the next decade," said Mark Bünger, Lux Vice President of Research and lead author of the report titled, "The Internet of Everyone: Consumer Relationships in the Age of IoT."

"Far from being limited to information about what's in and on consumers' bodies, the Internet of Everyone will extend to interactions with family, hobbies and career, and with cars, homes, stores and cities," he added.

Lux Research analysts studied IoT and consumer response to diverse technologies. Among their findings:

  • Predictive data gives marketing a new dimension. With IoT, marketers are no longer dependent on forecasts or even real-time data. They have access to "pre-time," or predictive data -- embodied in practices like Amazon's "anticipatory shipping."

  • Customer ties move into the long tails. With fragmenting markets, the so-called long tail could be on its way to consumer goods, dramatically transforming ways of studying smaller market niches. A glimpse of its future comes from eBay's acquisition of Hunch, which uses consumer searches and "nonobvious" recommendations for other products in the online seller's very long tail.

  • Ubiquitous surveillance becomes acceptable. Contrary to Orwellian fears about our every movement being recorded against our will, today's teens and tomorrow's tech leaders accept, and even embrace, increased, near-ubiquitous, personal surveillance. GoPro cameras record goings-on at beaches and ski resorts; and body cameras for police are sought by officers and activists alike.

The report, titled "The Internet of Everyone: Consumer Relationships in the Age of IoT," is part of the Lux Research Future Computing Platforms Intelligence service.

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