Monthly Voice Shoppers on Smart Speakers Rose Sharply in Early 2018
In the consumer survey behind the Voice Shopping Consumer Adoption Report, 16% of smart speaker owners said they were shopping using voice at least monthly. The number stood out to us for two reasons. First, only 26% of all smart speaker owners had ordered something by voice. That means 61.5% of smart speaker owners that have tried voice shopping are making it a habit. It’s an extraordinary trial rate to adoption rate conversion.
Second, when we asked smart speaker owners a similar question in January, we were impressed that 11.5% were making voice shopping a monthly habit. The percentage of monthly voice shoppers on smart speakers grew by more than one-third in just four months. In addition, the number of U.S. adults with access to a smart speaker rose by 15% during that period. That is a significant expansion of total monthly voice shoppers via smart speakers.
Shopping is Poised to be the Economic Engine of Voice
There has been a lingering question about how voice assistants will drive monetization. The web and social have relied on advertising. Mobile has excelled in freemium models which is a form of shopping. There is advertising through smart speakers today that is embedded in audio content so that will account for some portion of voice monetization. However, the linear and therefore interruptive nature of audio will limit advertising options in many use cases. Voice commerce is the most likely path to monetization and we are seeing that consumers are starting to try voice shopping in fairly large numbers. On smart speakers, they are doing more than try it. They are quickly making voice shopping a habit.