However, a third of consumers do not feel comfortable with voice shopping. Users do not wish to entrust their personal and financial information to smart speakers. The lack of a screen is also a drawback, along with the need for wake words instead of a voice search button. Some consumers believe they can type faster than formulating voice commands.
While English-speaking voice search technology is the most established, China, India, and other regions will dramatically increase their use of digital assistants by 2023. Canalys reported
the global smart speaker market growing 187 percent in Q2 2018 with the number of units shipped in the US and China nearly equal. Compared to Q4 2017, the Chinese smart speaker market share quadrupled.
According to The Digital Assistants of Tomorrow
report by Juniper Research, by 2023 the number of digital assistants in use will reach eight billion, compared to the current rate of 2.5 billion. With smartphone leading the charge for voice search software adoption because of its universal use and lack of further hardware investment, smart TV-based voice assistants and smart speakers are not far behind.
These numbers translate into an untapped customer base and new opportunities for business. According to some forecasts, voice shopping will account for $40 billion in US consumer spending by 2022. With voice shopping categories reflecting online sessions, businesses can increase their average basket value, improve customer experience and lifetime value by embracing the alternative shopping channels.