The rise of voice shopping has important implications for retailers and consumer goods companies, and those who are able to move quickly will reap first-mover advantage because customers will start to learn that those brands are available and easy to purchase via voice.
Voice shopping if often seen by customers as a sales channel, rather than a browsing experience – 70% of purchases are made by consumers who know precisely what they want to buy. As a result, food groceries and better “known” items such as electronics and homewares are the most common categories purchased using voice commerce.
The survey below from OC&C Strategy Consultants estimates that voice-based shopping will grow to a whopping $40 billion-plus in 2022 (previously it was estimated at $2 billion in 2017 across just the US and the UK). Categories that have seen early success are electonics, entertainment, grocery and homewares.