Conversational retail

Editor's Notes

• #2: Conversation commerce. Consumers are embracing voice. Presentation Johan Louwers
• #3: Voice assistants are about to revolutionize commerce. Voice assistants will become a dominant mode of consumer interaction, three years from now. 40% of consumers will use voice assistants rather than a website or an app. 31% of consumers will use voice assistants instead of visiting a shop or a bank branch.
• #4: Majority of consumers already use voice assistants. 51% of consumers are already users of voice assistants . Inbteracting with voice assistants via smartphones 81% is the dominant mode of use. Users of voice assistants have already been adopting them for making purchases.
• #5: 35% buying products (groceries / home care / clothes) 34% ordering meals 28% making payments / sending money 28% booking an Uber or any taxi service
• #6: Leading retailers and brands have sensed consumer interest and launched voice shopping for products and services Walmart partnered with google to launch its voice platform to allow consumers to shop more than two million Walmart items through voice. The French cosmetics retailer, Sephora recently launched its app on Google assistant, allowing consumer to book beauty services Ocado, the British retailer launched voice ordering capability on Amazon Alexa in august 2017 Capital one launched an amazon Alexa skill to allow consumers to access their account information and even pay their credit card bill through voice commands. Early in 2017, Starbucks launched voice ordering capabilities via mobile app and a reorder skill on Amazon’s Alexa platform. Users can simply say: Alexa order my Starbucks to order their usual items.
• #7: Consumers will be voting with their wallet in favor of voice assistants over other channels. Spending via voice assistants is expected to grow as much as sixfold in three years for users of voices assistants. Change in spending mix between physical stores, websites / apps and voice assistants today and three years from now
• #8: Conversational commerce can be used to enhance the relationship between the retailer and consumer in the store. Over 1 in 3 consumers would be willing to replace customer support or shop sales support with a personalized voice assistant in order to enhance their in-store experience.
• #9: Why customers love voice assistants. Consumers like the convenience, speed and the ability to multi-task. Convenience, 52% and ability to multi-task, 48%, top the list of reasons for preferring voice assistants over websites and apps. Speed, 49% and convenience, 47%, are the major reasons for preferring voice assistants over physical stores.
• #10: Conversational commerce yields concrete benefits for retailers and brands. Positive word-of-mouth. On having a good experience with a personal voice assistant, more than a third of users have shared their positive experience with friends and family.
• #11: More business In return for receiving a good voice assistant experience: A third of users have transacted more frequently with a brand at least a few times and users are willing to increase their spending by 8% on average. Higher consumer satisfaction - providing a voice assistant to consumers elevates a brands net promotor score (NPS) by nearly 20 points for voice assistant users.
• #12: How can retailers and brands devise a sound conversational commerce strategy? Organizations need to focus on four key areas for building a robust conversation commerce strategy. Start small and have an iterative approach to solve for key areas of conversation commerce Design and execute compelling voice customer experiences Apply conversation intelligence to understand your target consumer Devise sound business operations voice solutions Implement technology solutions that seamlessly integrate voice Prepare the organization for the new voice channel