The use of voice-enabled tech is burgeoning as merchants and shoppers seek to make the most of its increasing convenience and the hassle-free access to the necessary devices.
According to Juniper Research, the number of voice-assistant technologies in the market will grow threefold to reach 8 billion by 2023. For retailers, this new way of allowing customers to shop comes with an opportunity to boost up sales.
Voice activated devices are not only gaining popularity but also threatening to steal ecommerce’s spot according to a report by Paysafe. The payment provider found that more than half of customers (53 percent) are confident voice assistants are a better way to make purchases than online retail.
But voice-activated tech is still far from matching up to conventional ecommerce. Like any other new innovation, it has lots of growing pains hindering its wide-spread acceptance. Such bottlenecks include technical breakdowns paired with the lack of adequate customer training on the use of these gadgets.
One sticking point is the issue of security with retailers and merchants questioning the safety of this technology in terms of biometric verification and more. In fact, only 36% are confident it is as safe as old-style online retail according to a retail merchant services review.
Shoppers, who are getting savvier and more cautious of the increasing dangers of online fraud are used to web-based platforms that use passkeys or randomly created PINs to keep their financial information safe.
Biometric verification wipes off this dependence on passwords, however, customers are still struggling to understand the idea and its safety levels. Proponents will have to earn customer trust before the use of biometrics becomes a standard. And when it does, that will certainly mean a turning point for voice technology.
Secure Purchases over Convenient Shopping
We live in a tech-curious era where customers are in search of new convenient ways to buy items, but most of them prioritize safety over convenience.
No wonder studies found an entire 57% of customers ready to use this channel for low-value purchases but the percentage drops to 18 when it comes to high-value items.
Only after customers have been led through the security measures will we see increasing acceptance of voice-enabled devices. Merchants will have to bring customers up to speed with the niceties of the technology if buyers are going to make it a favorite.
Author Bio: Payment industry guru Taylor Cole is a passionate payments expert who understands the complex world of merchant services. He also writes non-fiction, on subjects ranging from personal finance to stocks to cryptopay. He enjoys eating pie in his backyard porch, as should all right thinking people.