Voice Assistants Will Revolutionise Commerce

Within the next three years, roughly 40% of consumers will use a voice assistant as an alternative to a mobile app or website. This is according to the results of the Capgemini Digital Transformation Institute Conversational Commerce Survey, which questioned more than 5,000 consumers in the U.S., UK, France and Germany. 

The way that we discover and buy all of the things that we want, or need, has changed. Existing channels are now better and new channels have emerged. There’s everything from web and mobile, to social, voice, and even artificial intelligence. As a result, retailers and brands must focus on keeping up with the ever-increasing consumer behaviours & expectations to ensure that they don’t get left behind.  

The customer is, and will always be, the key in every step of the purchase journey. Working with clients such as Philips has brought into sharp focus just how complex the purchase decision can be, especially with ever changing technology which can leave shoppers feeling confused about how it can benefit them. For this sector in particular it is increasingly important to ensure that customers are empowered to self-serve and  make wiser, more informed buying decisions. For instance, when using voice, brands will never be able to list their entire product inventory. However, through offering a guided approach to truly understand your shoppers needs, you will be able to remain the expert and eliminate choice fatigue by making the perfect, personalised recommendation.

Noted by PSFK (5th Jan 2018):

Consumers are turning to chat applications and voice-enabled devices to provide them with relevant product recommendations and research, satisfying their immediate and in-the-moment questions outside of traditional avenues of brand engagement. Brands are learning from this and building their own proprietary applications to respond.”

Research from Capgemini states:

Voice assistants will yield concrete benefits for retailers and brands

Brands who provide good voice assistant experiences will generate more business and positive word-of-mouth communication. The report found that 37% of voice assistant users would share a positive experience with friends and family, and even 28% of current non-users would want to transact more frequently with a brand following a positive experience. This equates to serious potential financial gain, as consumers are willing to spend 5% more with a brand following a good experience with a voice assistant.

Mark Taylor, Chief Experience Officer at Capgemini, said:

 “Voice assistants will completely revolutionise how brands and consumers interact with each other. What makes voice assistants so exciting is that they are woven into the fabric of our lives, offering a simplicity and richness of interaction that consumers have never experienced before. Brands that are able to capitalise on the huge consumer appetite around voice assistants will not only build closer relationships with their customers, but create significant growth opportunities for themselves.”

Although voice technology is yet to be widely adopted by brands and retailers, it’s essential that businesses think about how the emergence of virtual assistants will impact their shoppers in the future. It’s certain that the path to purchase will change and become more complex.

The future is about being there for your shoppers, wherever they are and whenever they need you.

If you're interested in how we're helping our clients prepare for the future, get in touch with Dipesh Bhimjiyani (Head of Digital).

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