The rise of voice-activated devices and smart speaker technology is rapidly changing how consumers interact with brands.
Research indicates that over 75% of households in the US are projected to own a smart speaker by 2025. This stat presents an opportunity for FMCG companies to tap into a new engagement channel: voice commerce and smart speaker technology.
Source: Statista
This article explains the potential impact of voice commerce on consumer behavior, marketing strategies, and supply chain management. You’ll learn key trends, best practices, and potential pitfalls for incorporating the latest tech trends to boost online customer engagement.
Overview of Voice-Commerce in FMCG Sector
Voice commerce is emerging as a game-changer by transforming the way people shop with FMCG brands. It is very similar to having a personal shopping assistant ready to take orders and meet needs at any moment—using only voice commands.
The emergence of intelligent speaker technology has aided in the acceleration of voice commerce. Many slim and compact units with voice technology, such as Alexa or Google Assistants, have earned their place in many homes. These devices provided a hands-free method to access information, interact with smart home devices, and shop for day-to-day essentials.
From the perspective of FMCG, voice commerce is a prime way to connect with customers in a more personalized and interactive way. Consider it an opening of the door to initiate direct interactions and conversations with customers in their homes, understanding their needs, and being able to provide relevant suggestions and ideas. This allows customers to establish brand loyalty and firm relationships, therefore increasing and repeating purchases and establishing a competitive advantage.
Technological Foundations: The Engine for Voice
Smart speakers are at the heart of voice commerce, incorporating various sensors and microphones for voice input, circuitry, and code that converts the voice input into text. The cloud-based smartphones are configured with the capacity to process natural language commands.
To support voice commerce, smart speakers need the technology to interface with commerce platforms. This means that the smart speaker has resolutely randomized buttons to allow consumers to exchange shopping information queries you would conduct on a smartphone with just your voice.
Artificial intelligence (AI) and natural language processing (NLP) are hugely influential in creating a natural, conversational feeling to voice commerce interactions. The technology has advanced to the extent that smart speakers can interpret slang, accents, and context and learn from users’ prior engagements to layer on recommendations.
Benefits of Voice-Commerce for FMCG Brands
Voice – commerce offers credible benefits and competitive advantages for FMCG brands. It could be considered a means to create consumer engagement.
One major benefit is heightened customer convenience. Voice – commerce allows customers to easily shop for their favorite items at any time and from any place, utilizing only their voice. It’s similar to putting a store directly in front of a person’s living room that is open 24 hours a day, seven days a week.
Customers can easily replenish household consumables whilst exploring new brands. The technology results in increased customer satisfaction and invariably leads to repeat purchases for FMCG companies.
Moreover, the experience of voice – -commerce can also increase value sales and brand loyalty. Brands can create personalized, compelling shopping environments. Brands can use voice-commerce capabilities to provide curated recommendations, bespoke deals, and easy-to-order supplies.
Using voice commerce eliminates manual searches, clicks, and page navigation, transforming what was once shopping in two dimensions into a three-dimensional activity.
Wrapping it Up
The use of voice commerce and smart speakers offers a seamless and personalized shopping experience that caters to the demands of the modern consumer. Brands can leverage the convenience and accessibility of voice-activated devices to forge stronger connections with their customers. This will help drive impulse purchases and unlock new avenues for growth.
As this technology continues to advance, its impact on the FMCG landscape will only intensify. So, make sure your businesses integrate technologies like voice commerce to stay ahead of the curve and thrive in the increasingly competitive market.
