Voice-Based Commerce Slower than Forecast. Why? "Lack of Consumer Trust."​

Mon, Jul 13, 2020

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If you don't trust it, you won't use it. Other than for the simplest of things. More evidence why standards are needed in the world of voice assistance.

Voice-Based Commerce Slower than Forecast. Why? "Lack of Consumer Trust."​

Back in February, eMarketer released a study on the state of smart speaker conversational commerce.

Their headline: “Purchases via Smart Speakers Are Not Taking Off.

A pin-prick on the optimism of voice enthusiasts?

Not so fast, my friends. More a signal of what we, as an industry, must do. (And yes, I’m talking about standards.)

Two important takeaways:

  1. If you delve into the details, you’ll find that that purchase activity via smart speakers is actually growing, and will pass an important milestone in 2020: more than 10 percent of all digital buyers will make a purchase using a smart speaker.
  2. What’s slowing growth? In the eyes of the experts, it’s all about a lack of consumer trust.

Let’s quote eMarketer:

“A key reason for the revised forecast is that device-makers haven’t fully gained users trust. Potential buyers are still concerned about it when it comes to secure payments and privacy.”

Hmmm.

This echoes the good thoughts from Edison Research’s David Webster at January’s Voice@CES, that a lack of consumer trust will inhibit more advanced voice usage.

It also gives additional credence to the plans of the Open Voice Network, which is working to bring the consumer confidence brought by standards to the world of voice assistance.