The fastest-growing industry in India is e-commerce, projected to increase from US$ 38.5 billion in 2017 to US$ 200 billion by 2026. (IBEF). Due to rising smartphone and internet usage, the majority of the growth can be ascribed to an increase in online shoppers. A report states that there were 776.45 million active internet connections in September 2020.
The spread of the disease and social exclusion have increased the use of online shopping apps like Amazon, Flipkart, and BigBasket. According to a Unicommerce analysis, the beauty and wellness category, for instance, had volume growth of more than 130% during the epidemic.
But the rising need for a superior and frictionless online shopping and customer experience, as well as fierce competition, has presented numerous difficulties for Indian e-commerce enterprises.
CX in e-commerce refers to the sum of all customer interactions from when a customer downloads an application or visits a website to when they return an item or receive a refund.
Today, every business is fixated on producing wonderful client experiences, and for a good reason. Consider the e-commerce behemoth Amazon as an illustration. For many years, it has successfully given customers the finest experience possible. It also ranks as one of the top businesses in the Internet Retail category of the American Customer Satisfaction Index (ACSI).
With rising customer demand and needs, technology is essential to helping businesses accomplish their objectives for the customer experience. Let’s look at speech technology and how it changes the customer experience in the e-commerce sector.
Speech Technology is evolving
Voice technology has a significant impact on our lives today. We use it to play our favorite music tracks, turn on the lights, and place online orders for goods. Businesses have also been eager to use it to offer a customized consumer experience along the customer funnel.
For instance, e-commerce businesses use AI-powered voice assistants for anything from triggering personalized product recommendations to building shopping lists, checking the status of orders, and even filing complaints. Saying, “Hey, Alexa, add tissue papers to my cart”, will do the trick.
According to a Capgemini Report, “By 2022, consumer use of voice is predicted to climb by 15 percentage points or more compared to today’s levels for each activity across the e-commerce consumer journey.”
- 51 percent of people look up items.
- 30 percent of users follow a bundle
- 8% of users get in touch with the support
Let’s take a closer look at how speech influences the customer journey and helps businesses offer more individualized client interaction and quicker service.
Voice commerce has increased
Consider having a knowledgeable salesman assist you in making a purchase while you relax in your home. Does it seem too fantastic to be true?
With voice commerce today, you can do just that. You can use a voice assistant to purchase goods with an outline or activate a mobile shopping app; you can use voice commands to ask inquiries, check ratings, product details, and more, just like when you check the weather on your phone.
While voice commerce has several benefits, convenience is the biggest. Customers benefit from saving time and maximizing comfort. By 2023, voice commerce is expected to generate over USD 80 billion, according to Juniper Research.
Using voice AI to engage and support customers
Like any other industry, e-commerce customers’ customer journeys are complicated and involve many touchpoints. For instance, just 15% of shoppers who have added things to their carts on mobile actually make a purchase. The e-commerce sector has been using several tactics to combat cart abandonment, such as sending out automatic emails and push notifications.
Businesses are progressively implementing Voice AI technologies to further abandon and address other issues. For instance, whenever a user leaves a basket, an outbound call to a customer can be automatically initiated within a predetermined period to determine the user’s reasoning. E-commerce businesses can respond accordingly and take the necessary measures. For instance, if a consumer is having trouble making a payment, the company may recommend alternate payment options, and so on. This can significantly lower the rate of cart abandonment.
Voice AI is also useful for reactivating customers, promoting offers and new products, and informing customers about product availability and price reductions. Voice AI can help with customer service by enabling users to submit complaints immediately and respond to frequent questions.
Opportunities & future of voice in e-commerce
The increase in voice-enabled gadget usage in recent years has amply demonstrated how at ease people are growing while conversing with conversational assistants. In a report jointly published by IBM and Kantar Millward Brown, it is stated that 33 million voice-enabled devices have already been deployed worldwide.
Besides a few obstacles, voice technology is a game-changer for online retailers. Voice has a significant part to play throughout the customer journey, whether through voice commerce, customer engagement, or support. It can provide customers lifelong memories if utilized appropriately and at the correct times.
The chance to rethink strategy and the customer journey across stages is enormous for e-commerce businesses.
AI voiceover and dubbing technology are improving the shopping experience by allowing e-commerce sites to offer personalized, multilingual, and engaging product descriptions and reviews. AI voice overs can deliver content naturally and convincingly to customers with a more immersive shopping experience. Additionally, AI voiceover and dubbing technology can be used to make e-commerce sites accessible to customers who may have difficulty reading or understanding written product descriptions, expanding the reach of these sites to a broader audience.
AI dubbing technology is improving the shopping experience in e-commerce by enabling retailers to create localized versions of their content for customers who speak different languages or dialects. With AI dubbing, product videos, commercials, and tutorials can quickly and accurately translate multiple languages quickly, improving customer engagement and driving sales. By providing a seamless and personalized shopping experience in the customer’s preferred language, AI dubbing can help e-commerce businesses expand their reach and connect with a broader audience.