Β 

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!


πŸ’₯ It is faster. We can speak faster than we can type


πŸ’₯ It is frictionless


πŸ’₯ It can convert leads to sales


πŸ’₯ You can shop as you drive or do other things


πŸ’₯ It improves customer engagement in-store and converts browsers to sales


πŸ’₯ It improves customer experiences


However, it does not come without challenges:


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


✴ Бomission. There is no such thing as free lunch


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


✴ Browsing and discovering possibilities is quite challenging


✴ 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.


Β