Electronics retailer Best Buy has dived deeper into the smart home industry by announcing a partnership with Vivint, the biggest smart home service provider in North America.
Electronics retailer Best Buy has dived deeper into the smart home industry by announcing a partnership with Vivint, the biggest smart home service provider in North America.
The new deal will bring Vivint experts into more than 400 Best Buy stores by the end of this summer. Vivint will offer customized advices on smart devices as well as installation, for smart locks, lighting, security cameras, thermostats, and more.
While many manufacturers have entered the smart home market, most consumers still have limited knowledge about smart devices and how they can benefit from them. This is why retailers like Best Buy need to elicit Vivint’s help to explain the technology and tell good stories in its stores.
Through this new partnership Best Buy hopes to further boost its smart home sales. According to the company, smart home devices were one of the fastest growing product categories.
The company opened the Connected Home section in its 1,000 stores back in 2014, showcasing smart locks, lighting bulbs, cameras and other smart devices in the store. Best Buy claimed to have sold more than 55 million devices last year.
Last year, Best Buy rolled out an in-home adviser program, bringing consultants to customer’s houses to resolve technology related problems.
Vivint’s own products, including a security camera connecting to the doorbell and motion sensors, will be sold in Best Buy’s smart home sections. In addition to hardware, Vivint will offer financing for smart home products, service plans and online management software at Best Buy. The new Best Buy Vivint smart home monitoring plan, for example, starts at US$39 per month.
The smart home global market is estimated to reach US$53.5 billion by 2022, according to a report released by market intelligence company Zion Market Research.
Through the partnership, Vivint is expected to benefit from Best Buy’s retail channel and grow its sales. The Utah-based company doesn’t have a physical store presence and grows through door-to-door sales and making cold calls.