Despite the rising popularity of Internet of Things (IoT), consumer acceptance continues to grow at a slow pace. For example, adoption of health and fitness wearables is still relatively low and about a half of consumers abandon their wearables within the first six months. This pattern means that firms engaged in IoT industry can not recover their development and marketing costs. Recent research offer a fragmented view of the determinants of IoT consumer acceptance and focus mainly on functional attributes.This paper aims to provide a new perspective. Drawing on the service-dominant logic, the perceived value conceptualization and the customer experience approach, our netnographic study reveals both value co-creation (gains) and co-destruction (pains) determinants addressed to different experiential dimensions. Moreover, it highlights several interactions between specific determinants of both sides of coproduction process which could lead to “compensation phenomena”. The findings of this study have key implications for IoT marketers and suggest future research directions.