In today’s’ edition of ‘Things we could have predicted,’ a recently released study expects voice shopping to surge over 1,900% to $40 billion. This is up from the current number of $2 billion today.
The study by OC&C Strategy Consultants followed the shopping habits of 1,500 smart speaker owners in December 2017 and recorded product sales for 2,000 products listed on Amazon.
This number comes as more consumers are buying smart devices like the Amazon Echo or Google Home, and mainly by younger families with higher incomes.
Amazon will likely dominate the emerging channel, as they command the largest share of voice shopping, more than double its competitors. For comparison, Amazon’s penetration via its Echo devices is currently at 10%, Google Home follows at 4%, and Microsoft Cortana trails behind at 2%.
The study found that voice shopping is mostly used for standalone, lower value items – like groceries, entertainment, electronics, and clothing.
It appears that voice shopping is unstoppable, and one channel that savvy eCommerce merchants need to pay close attention to in the next few years.