Voice is a commodity, are you ready?

Voice is a commodity, are you ready?

 

In 2018, voice is a commodity. Soon, it won’t be optional for a store to offer sales and service by voice.

To get an understanding of how technology moves from a luxury to a commodity, let’s look at the evolution of Bluetooth in cars. Lexus was the first company to offer it standard on the LX 470, which was $64,475. However, in 2018, it’s on the mid-trim Kia Rio, which is one of the cheapest cars available, at $16,100. That’s pretty amazing.

The same thing is true of voice interfaces in cars, which were first introduced in about 2010. And today, you can get Siri integration in the same Kia Rio for $16,100. Upgrading to the top-level trim gets you Kia’s own voice interface, which is not as good as Siri.

Voice is a commodity. We’re seeing similar trends with personal voice assistants. Siri was introduced in 2011, Alexa in 2014, and Google Assistant in 2016. Everyone ┬áthat has a smartphone has either Siri or Google Assistant (80% of the US population), and as of February 2018, 20% of US homes had a smart speaker. And people love these speakers, ownership doubled in 6 months. These trends will continue.

voice is a commodity
The spread of smart speakers, and the vast improvements in voice assistants have lead to people forming new habits, including shopping by voice. Today, people are using voice interfaces instead of apps or web sites, and even sometimes instead of going to a physical store. Voice commerce is projected to account for $40B in US consumer spending by 2022. How can companies like Magpie Kids, Kracky Snax, or even REI, compete and stay relevant in this new economy?

Well, because they’re on Shopify, they can take advantage of ShopClerk.

Voice is a commodity, are you ready?