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Smart Home Features Appeal Most to Older Consumers

Dan Shepard
Dan Shepard is the managing editor for studies and surveys at LendingTree. In this role, he edits studies and surveys for LendingTree and its subsidiaries ValuePenguin and DepositAccounts.
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Pearly Huang
Pearly Huang is the copy chief at LendingTree. Pearly has previously worked at the Huffington Post, American Express Publishing and more.
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Content was accurate at the time of publication.

In an age where home technology and devices resemble futuristic TV shows such as “The Jetsons,” it might surprise that younger generations don’t fully embrace smart home features and high-tech appliances.

In fact, a new report from LG Electronics looks at how smart home appliances impact consumers — think artificial intelligence-powered washers, energy-optimizing air conditioners and refrigerators that help people keep track of food expiration dates. The report reveals that 60% of people ages 50 to 54 are very satisfied with their smart home appliances, significantly more than the 28% of 20-somethings ages 25 to 29.

Do consumers care more about performance or new technology?

As shown, the rate at which consumers are very satisfied with their smart home appliances varies from 28% to 60%. Here’s a complete look by age group:

  • Ages 25 to 29: 28%
  • 30 to 34: 41%
  • 35 to 39: 51%
  • 40 to 44: 49%
  • 45 to 49: 54%
  • 50 to 54: 60%

That satisfaction comes in various forms. In fact, the report finds consumers ages 45 to 49 care more about performance when purchasing smart appliances, while those ages 30 to 34 care more about new technology. Here’s a breakdown of these factors by age:

Smart appliances: Performance vs. new technology
% who prefer performance % who prefer new tech
Ages 25 to 29 13% 20%
30 to 34 12% 29%
35 to 39 15% 22%
40 to 44 10% 22%
45 to 49 27% 14%
50 to 54 21% 21%
Knowledge: 55% of those very satisfied by smart home features have little understanding of artificial intelligence (AI), compared with 50% of those who are very satisfied and know AI well.

Smart home benefits, from saving energy to saving money

Of the more than 800 respondents who have purchased a smart home appliance in the past five years, consumers cite the top benefit as saving energy (17%), followed by making things more enjoyable (16%) and making things more useful (16%).

Up next is:

  • Saving time (15%)
  • Increasing safety (13%)
  • Saving effort (11%)
  • Making them prouder (6%)
  • Saving money (6%)

If you’d like to deck out your home with smart home appliances and devices, you could consider taking out a small personal loan to give your abode a tech boost.

A 2020 LendingTree survey found that home improvement spending was rising amid the coronavirus pandemic. Kitchen upgrades and bathroom improvements were the top projects among consumers taking out personal loans for home improvements, according to the findings.

Whether your renovations include an oven with Wi-Fi or a shower that you can control with your voice, personal loans can offer the flexibility needed for a smart home project.

Methodology: Englewood Cliffs, N.J.-based LG Electronics USA, Inc. commissioned an online survey in June 2021 of 837 U.S. residents ages 25 to 54 who have purchased a smart home appliance in the past five years.