Voice assistants offer the biggest business value in voice commerce, according to Opus Research’s survey of retail leaders. Due to improved accuracy, speed, and ease of navigation of complex menu trees, voice shopping has become more popular.
All e-commerce businesses should carefully consider the implications of these shifts over the next decade. However, voice-controlled device purchases remain low. The purpose of this white paper is to analyze the challenges of voice commerce.
What is Voice Commerce?
Voice commerce involves using a user’s voice to make an online purchase, as its name suggests. You can purchase things online using your voice and a smart device that supports voice commerce
Voice Commerce vs. eCommerce
You can buy or sell products electronically through online services or via the internet through e-commerce.
A new eCommerce customer’s journey:
- Select one or more items
- Sign up for an account
- Log in to their account
- Validate their billing or delivery address
- Provide all credit card information
Voice Commerce on Assistants: How does it work?
Amazon Alexa’s major selling point is that it is connected to the Amazon store. As long as it is available on the Amazon store, customers can order anything they wish. For example, the user can say things like: “Alexa, I want to buy washing up liquid”, “Alexa, I want to buy a black mascara”, ”Alexa, what is the best noise-canceling headphone?”
According to previous purchases, Alexa suggests products based on previous purchases. In the absence of previous orders similar to the current order, Alexa suggests Amazon Choice products. Alexa informs the user of the product’s price and then asks if they want to purchase it. If yes, Alexa places the order; if no, she suggests alternatives.
In addition to being straightforward, the customer journey can be shortened by using the Amazon store, as the user does not need to open a third-party skill to purchase what they want.
Personalize your Shopping Experience
Provide recommendations based on individual preferences to enhance the shopping experience. The combination of AI (Artificial Intelligence) and ML (Machine Learning) with voice features enables intelligent recommendations to be made based on customers’ shopping behavior and purchase history.
The information from their prior purchases can help customers identify the items they are asking for more quickly and accurately.
Voice-powered solutions and conversational AI go way beyond trends. Because voice is a natural interface, it’s here to stay. Technology continues to advance at an incredibly rapid rate, and pretty soon we won’t be able to imagine shopping without shopping assistants.
Companies that find their voice and use it not only to improve customer experience but also to build brand awareness, will enjoy a distinct competitive edge.