The future of e-commerce business in a connected world using voice.

- - Advice

A recent survey was conducted by “Amazon Pay” among 10,297 consumers in the US, UK, Germany, France, Italy, Spain, Japan, and India which have some interesting findings.

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The increased connectivity is changing the shopping habits of a new generation of consumers, now accustomed to buying items instantly, with a swipe, click, or a voice command.

The days have long passed when product purchases involved extensive planning, research, and visits to multiple stores. In addition to retail stores, today’s consumers have a plethora of channels to discover, research, and buy, including eCommerce (online), m-commerce (mobile), and now, voice commerce. Literally, it seems like they can buy whatever they want, whenever, wherever, and however they want.

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The voices are getting louder

We believe cloud-based voice services represent the next era of commerce after physical stores, eCommerce, and m-commerce. Interestingly, this next-generation commerce channel also takes consumers back to a simpler time, when all they had to do was ask for the products and services they needed. No typing or swiping, just good old-fashioned conversation, with one significant difference – consumers are talking to a voice service that is becoming smarter by the day.

Consumers find the experience to be simple yet novel, with 44% indicating that they are likely to use voice services in at least some part of their shopping journey in the next three years. This adoption rate, for a still nascent technology, proves that businesses should not just consider voice but embrace it to address the next level of consumer expectation.

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A new chapter for connected consumers

With voice being integrated into smart speakers, mobile phones, smart devices, cars, wearable, and more, we have truly arrived in an era where device dependency is irrelevant. Consumer expectations have skyrocketed to a point where shoppers have been primed to expect changes to the way they shop every few years. Voice is one such change.

Businesses, no matter the industry, must prepare for this next level of consumer expectation. Just as they had to develop a web strategy in the 90’s and a mobile strategy in ‘00s, businesses are going to need a voice strategy.

If businesses take a wait-and-watch approach to voice, they will disappoint consumers. If they move too fast, they might compromise on security. They need to strike a fine balance in executing a voice strategy that is also a core part of their overall commerce road-map. However, to do that, they first need to recognize that voice is a strong long-term opportunity. Not because we say so but because consumers have expressed just that:

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The key findings from the survey questions in this research conducted by Amazon Pay are given below.

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Last word

While great products and services go a long way towards acquiring and retaining consumers, they do not go all the way. Equally important is the access to those great products and services. With the advent of voice in the current decade, we have opened a new chapter in enabling consumers to access products and services.

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Consumers love the convenience, speed, and context that voice offers. An entire shopping journey can be completed within the voice channel or span multiple channels. If a consumer is doing laundry and runs out of detergent, he/she can reorder at that very moment, just by using their voice.

Similarly, a consumer can notice his/her friend wearing cool, new sneakers and use voice to add it to his/her cart in two different colors. They check out the sneakers on a website, head over to the store to try them on, and then buy the one they prefer using a mobile app on their smartphone. Once they have done that, they can even ask their voice
service – “Where’s my stuff?”.

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Once businesses have acknowledged the opportunity that voice presents, they can take their first step by visiting Alexa to see how Amazon Pay can help get them started with voice and offer consumers a truly connected experience.

Courtesy: Amazon Pay

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I’m Nishanth Muraleedharan aka "Nishani" and I know that I have come into this world with a clear purpose and mission: • To help people to have financial freedom & more free time by doing Internet based Businesses. I've been involved with Internet based businesses for over 18+ years now. Some of my inspiration comes from Jeff Bezos, Elon Musk, Mark Zuckerburg, Sergey and Larry Craig