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Voice Shopping Set to Jump to $40 Billion By 2022, Rising From $2 Billion Today

Voice shopping is expected to jump to $40 billion in 2022, up from $2 billion today, suggesting the new channel may well be the next major disruptive force in retail, according to data from OC&C Strategy Consultants.

The survey showed growth in the voice segment will be driven by a surge in the number of homes using smart speakers, rising to 55% from 13% percent today. Meanwhile, Amazon is poised to dominate the new channel with the largest market share, currently more than twice that of its nearest competitor. In another report by Capgemini, they predict more than 7.5 billion smart speakers [digital assistant devices] in the market by 2021.

Among other key findings of the OC&C study:

  • Three tech behemoths lead the virtual assistant AI space in the US – Amazon’s Echo has 10% penetration of US homes; Google’s Home, 4%, and Microsoft’s Cortana, 2%.
  • Apple has been left behind. Siri lacks the AI capabilities of Google, while their HomePod has only just hit the market.
  • Only 39% of consumers trust in the “personalized” product selection of smart speakers.
  • Smart speaker owners skew younger and more affluent, and are more likely to have children.
  • Voice purchases tend to be stand-alone, lower value items.
  • The three most commonly shopped categories through voice are commoditized: grocery (20%), entertainment (19%) and electronics (17%). Clothing is fourth at 8%.

For more information about OC&C Strategy Consultants, please visit http://www.occstrategy.com.

Talking Shop Infographic_UK (1)

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Michael L. AtkinsonVoice Shopping Set to Jump to $40 Billion By 2022, Rising From $2 Billion Today
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Press Release

FOR IMMEDIATE RELEASE: February 20, 2018

Orderscape announces full-menu ordering certification by Amazon –Voice ordering isn’t on the way, it’s here today.

San Jose, CA: Orderscape, the order automation and voice technology software company to help restaurants grow sales and build deeper and more personalized relationships with their customers, announced today a full-menu ordering certification by Amazon for Fazoli’s restaurants. Fazoli’s customers can now order meals via natural language processing as an Alexa skill at some locations.

Orderscape is among the first automation software companies to crack the code on full-menu voice ordering targeting the global restaurant and hospitality sectors. “We are among the small number of technology companies worldwide to offer full-menu voice ordering solutions for restaurants,” said Ted Cohn, CTO and co-founder of Orderscape.

Orderscape is pioneering order automation using voice technology on a number of conversation channels like Alexa and soon, Google Assistant and Google Home. With full-menu voice ordering, restaurants using leading food ordering platforms like Olo, Onosys and Monkey Media software, among others, can extend their reach and provide a seamless conversational food ordering experience to their customers, creating another revenue stream while significantly improving the customer experience.

“Conversational commerce, or the 4th pillar of online ordering, coupled with artificial intelligence is set to revolutionize digital ordering for restaurants. Voice makes it easy to interface with technology into one, familiar action: speaking. Conversational food ordering technology drives revenue and improves the guest experience at the same time,” said Michael L. Atkinson, CEO and co-founder of Orderscape.

About Orderscape: Orderscape’s customer engagement and conversational commerce platform powers the digital experiences that bolster the relationships between restaurant brands and hungry consumers. The Platform ties together the emerging channels of Voice (Amazon Alexa, Google Home/Assistant, etc.) and ChatBots (Facebook Messenger) to strengthen the customer experience, increase engagement, satisfaction and retention, reduce service costs, and drive additional revenue. Orderscape has accessed over 100,000 restaurant menus on its platform and expects to serve tens of millions of diners, from its growing restaurant marketplace. Learn more at orderscape.com.

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Michael L. AtkinsonPress Release
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The coming reality of voice driven interactions and ordering

I’m in Dallas speaking at a restaurant technology event this week. Nothing gives me more energy than an attentive audience seeking knowledge or insight into the art of the possible in the restaurant technology sector. Well, that’s a dream, really. Having a large engaged audience able to suspend disbelief just long enough to believe that the Voice User Interface (VUI) is really here. And, here now. That they should immediately activate and engage; maybe order some food using just their voice on relevant digital agent platforms. Well, not so fast. It’s still a dream, especially in the restaurant industry where everyone is seemingly born in Missouri…no disrespect to open-minded, forward-thinking Missourian.

But, I did perhaps, just perhaps, convert one or two to the “art of the possible”. The voice economy, if you will.

Then, a lunch with a like-minded, restaurant industry marketing veteran with passion, intelligence and vision. Whatever personal soul-battery that was nearing the red, suddenly was recharged with one sweet conversation. And, it wasn’t all about resttech…it was also about the industry, the people and why we love it so, consistently for, yes, 40 years now. It helped frame the “why do I do this to myself” question. So thanks, Nancy.

I believe that voice interaction and commerce will indeed change this industry positively and if that’s my one big contribution to foodservice, then it’s worth the hundreds of rejections by otherwise, amazing restaurant professionals. Being ignored like Ray Kroc was selling milkshake blenders is just part of the job – persistence. I realize now, all I need are a few believers, like Nancy. So, thanks to the Nancy’s, the dreamers and believers that keep us believing and working hard to inspire and infect our positivity and vision on the decision makers. Restaurant technology is transforming the restaurant industry and I’m glad I’m helping with that.

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Michael L. AtkinsonThe coming reality of voice driven interactions and ordering
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Massive Digital Assistant Market Opportunity

Ultimately, we see voice technology as being embedded in everything we‘re doing for use in everyday life. It will really be a voice first world. Check out how Gartner research sees growth.

Do you believe that within 2 years you will be ordering food using a digital assistant, using just your voice? if the answer is yes, who do you think will make that happen? Yep, Orderscape….making that happen today.

7.5 Billion units

 

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Michael L. AtkinsonMassive Digital Assistant Market Opportunity
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