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How AI and Voice Assistants disrupting the retail industry?

OC&C Strategy Consultants & Juniper Research predict that voice assistants industry will grow up to 40-80Bn by 2023 from 2Bn now. Below are 7 reasons why ? Plus 5 challenges it comes with!


๐Ÿ’ฅ It is faster. We can speak faster than we can type


๐Ÿ’ฅ It is frictionless


๐Ÿ’ฅ It can convert leads to sales


๐Ÿ’ฅ You can shop as you drive or do other things


๐Ÿ’ฅ It improves customer engagement in-store and converts browsers to sales


๐Ÿ’ฅ It improves customer experiences


However, it does not come without challenges:


โœด Data ownership is a big one as you give access to ALL your data


โœด ะกomission. There is no such thing as free lunch


โœด It creates competition for anyone who is in the retail business against the giant - AMAZON


โœด Browsing and discovering possibilities is quite challenging


โœด You need to know the brand to look for it


Bottomline. Smartspeakers are the fastest-growing consumer technology since the smartphones.


It can transform the shopping experiences. Drive service sales up by integrating voice interface with business systems and technology infrastructure.


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