Page 4 - AeM_July_2018

RESEARCH, ANALYSIS & TRENDS

Voice shopping set to rise exponentially

According to a study conducted by OC&C Strategy  Amazon has a firm hold over consumers' buying
Consultants, voice shopping is expected to jump to $40 decisions, with 85% of consumers selecting the
billion in 2022, up from $2 billion today, suggesting the products Amazon suggests. According to OC&C
new channel may well be the next major disruptive force Strategy Consultants, those products that attain
in retail. The growth in the voice segment will be driven Amazon "Choice" status typically triple in sales
by a surge in the number of homes using smart boost and losing the "Choice" status has typically
speakers, rising from 13% today to 55%. the same effect downwards, leading to a 30%
reduction in sales.
Amazon wields the most power in voice
shopping Retailers need to adapt to succeed in voice
shopping
Meanwhile, Amazon is poised to dominate the new
channel with the largest market share, which is currently Retailers must develop "skills" or connected
more than twice that of its nearest competitor. Besides applications that integrate into current voice offers, the
that, the study reveals that: consultancy recommends, stating that there are
currently only 39 such apps within the voice shopping
 Only 39% of consumers have trust in the
category. To drive additional spending and higher price
"personalized" product selection of smart speakers.
points, retailers could provide in addition some
inspiration, such as e.g. new recipes etc.
 Three tech behemoths lead the virtual assistant AI
space– Amazon's Echo has 10% penetration; However, building trust has a direct correlation with
Google's Home has 4%, and Microsoft's Cortana overall ratings. Only 39% of consumers trust in the
just 2%. "personalized" product selection of smart speakers and
only 44% believe they offer the best value selection of
 Apple has been left behind, since Siri lacks the AI products.
capabilities of Google, notwithstanding that Google
HomePod has only recently hit the market.
How consumer packaged goods can
 The three most commonly shopped categories succeed
through voice are commoditized: grocery (20%),
entertainment (19%) and electronics (17%), with Consumer goods businesses must maintain Amazon's
"Choice" status, even though Amazon's "Choice"
clothing taking the fourth spot (8%).

4 July 2018 - Voice Search & Search Engine Optimization (SEO)