Cracking the code for voice commerce

The introduction of voice assistants has opened new doors in the world of commerce, allowing consumers to shop using their voice alone.
  • Buying products or services using Voice Commerce (V-Comm) remains widely untapped, with voice assistants most often being used to play music, look up information online, check the weather and to set timers or alarms.
  • Barriers to the adoption of V-Comm involve consumers not feeling ownership (the Endowment Effect) over the item, being unable to compare the item with other products and thus contextualise the item, and the feeling of frustration when the voice assistant algorithm makes an error.
  • To build consumer confidence in V-Comm, brands must provide strong benefits that fulfil the Endowment Effect, leverage available data to provide context...

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