ao link
Twitter
Facebook
Linked In
RSS
Login or Register
New to InternetRetailing?
Register Now
Internet Retailing

This is your 1 complimentary article for this month

Become a member for unlimited and immediate access.


Register
Already a member? Log in here

The use of interactive messaging and chatbots is set to transform omni-channel retail into conversational commerce worth $290bn, study predicts

Linked InTwitterFacebookeCard
Chatbots will transform omni-channel retail into a conversation
Chatbots will transform omni-channel retail into a conversation
Sharelines

Messaging and chatbot driven conversational commerce set to deliver $290bn globally by 2025 as part of the new-look omni-channel model

Conversational commerce – where brands can sell directly from interactions through mobile messaging, chatbots and other digital marketing channels – is set to revolutionise ecommerce and could generate sales in excess of $290bn by 2025.

 

A new study from Juniper Research – ‘Conversational Commerce: Market Outlook, Emerging Opportunities & Forecasts 2021-2025’ – highlights that the ability to offer conversational commerce as a component of an omnichannel retail strategy will increase confidence in the channels amongst retailers. This, says the report, enables these retailers to expand their reach, while allowing a fall back on more established commerce channels.

 

The research predicts that three countries – China, Japan and South Korea – will account for more than 90% of chatbot spend by 2025. Messaging apps popular in these countries, such as WeChat, LINE and Kakao Talk, have all established chatbot ecosystems in which retailers play a significant role in the development of chatbot and conversational commerce functionality.

 

The report urges emerging conversational commerce channels to emulate the chatbots ecosystems in these countries. To maximise the potential of other conversational commerce channels, such as voice commerce and RCS messaging, it recommends that retailers and communications platforms explore the possibility of a revenue-sharing model, in which a small proportion of the transaction value is paid to the conversational commerce service provider.

 

Research author Sam Barker says: “Revenue-sharing models will enable conversational commerce channels to monetise their services by levying costs on brands and enterprises, rather than the end users themselves. This revenue can be used to improve commerce channels to generate further investment from brands and enterprises.”

Linked InTwitterFacebookeCard

The InternetRetailing Newsletter

A curated update containing news analysis, reports, podcasts and opinion - completely free and delivered three times weekly

Become a Member

Create your own public-facing profile
Gain access to all Top500 research
Personalise your experience on IR.net
Internet Retailing
We are the magazine, portal and research source for European ecommerce and multichannel retail, hosting the board-level conversation for retailers, pureplays and brands across all of our platforms. Join the conversation.

© InternetRetailing Media

Latest Tweet

Internet Retailing
Tamebay
eDelivery
Twitter
Facebook
Linked In
Youtube
RSS
RSS
Youtube
Google
Linked In
Facebook
Twitter