Will voice commerce be the next evolutionary step in digital commerce? And if so, what will it mean for retailers who have choices to make about how, where, and with whom to invest in voice? And what will it mean for consumer product brands who will need to get their products searched for and sold through voice?
We did a study in recent months to understand the trends in using smart speakers for shopping, in the US and the UK, and what these early indicators could mean about the future. Here are our findings ... and our thoughts on the implications for retailers and consumer goods companies today.
Rapid consumer adoption of smart speakers, combined with a growing tendency to use such devices for shopping, suggests that voice commerce (voice-based eCommerce) will be the next major disruptive force in retail. OC&C estimates that $5bn will be spent through voice commerce by 2022 in the UK, representing 3% of online spend. This is clearly a channel that retailers and consumer goods companies would do well to consider seriously.