Voice Assistants: This is How They Will Revolutionize Commerce

//Voice Assistants: This is How They Will Revolutionize Commerce

The Digital Transformation Institute of Capgemini published in the report titled “Conversational Commerce: Why Consumers Are Embracing Voice Assistants in Their Lives”, which highlights how consumers use voice assistants (Google Assistant, Siri, and Alexa above all) and what opportunities these offer systems to companies to connect with their customers.

From the report, which was attended by over 5,000 customers in the United States, United Kingdom, France and Germany, it emerges that in the next three years voice assistants will become the predominant mode of interaction between consumers, and that those who use technology to do purchases will be willing to spend 500% more through this new form of interaction than current levels.

In fact, consumers are developing a strong preference for interacting with companies through voice assistants. Research has shown that today about a quarter of respondents (24%) would prefer to use a voice assistant instead of a website. However, it is estimated that in the next three years this percentage will grow to 40% and almost a third (31%) will interact with a voice assistant instead of going to a physical store or a bank branch, compared to 20% recorded today.

Currently, those who use voice assistants invest 3% of their total expenditure through voice assistant, but it is estimated that this percentage will grow to reach 18% in the next three years, thus reducing the share of purchases made at a physical store (45 %) and on websites (37%).

The main use is still that of streaming music and searching for information on the network, but over a third of respondents (35%) used voice assistants to buy food, household products, and clothing. Currently, 28% of users have already used a vocal assistant to make payments or to send money, but 44% of users have expressed interest in using these devices for banking transactions since the smart devices have functioned vocal payment by credit card.

Consumers who use the voice assistant have expressed very positive opinions about their experience, with 71% saying they are satisfied with their voice assistant. In particular, among the main reasons that push users to prefer the voice assistant to mobile apps or websites, the report found the convenience (52%), the ability to perform hands-free activities (48%) and the automation of ordinary shopping activities (41%).

The ability of voice assistants to understand users is also a fundamental element; 81% of those who use them expect the voice assistant to understand accent and diction. The report also reveals that voice assistants are very popular among people aged between 33 and 45 and of these almost one in five (17%) have a gross annual income of more than $100,000.

Brands that offer positive experiences through voice assistants will generate more business opportunities and positive word of mouth. In fact, the report found that 37% of voice assistant users would be willing to share a positive experience with friends and family, while 28% of current non-users would increase their dealings with a brand following a positive experience.

All this translates into possible financial gains, as consumers would be willing to spend 5% more with a given brand following a positive experience with a voice assistant.

By |2018-02-25T07:13:05+00:00February 25th, 2018|Technology|1 Comment

One Comment

  1. Ogeto Omwancha May 23, 2018 at 6:55 pm - Reply

    Very interesting read. With the high rate of development and use of digital technology in our highly consumer-centric society today, it was only a short while before we started talking to our gadgets and getting feedback in a humanly understandable voice. Conversational commerce, or the 4th pillar of online ordering, coupled with artificial intelligence is set to revolutionize digital ordering for restaurants. Voice makes it easy to interface with technology into one, familiar action: speaking. The re-emergence of voice technology — or more accurately, voice-enabled bots (this is a totally different space and technology than yesterday’s painful IVRs) — is also paving the way to change consumer habits in areas far beyond our weekly shop. We’ll see a huge shift to AI technologies like voice tech and bots this year, and especially next year. LivePerson’s data shows that 50-70% of customer service discussions could be probably answered by bots, which has huge implications for how companies communicate with customers. And for brands, the costs savings versus human labor are far too high to sit back and ignore. It seems that Amazon, as often, is onto something. Like Alexa, we should be listening out for what is to come next.

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