Trends in Consumer Behavior With Technology

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Technology Trends

Consumers are adopting new technology into daily life and their routines. Technology is changing the way consumers search the internet, shop for groceries and home goods, and the way they view and save their money. These changing trends offer opportunities for institutions to become industry leaders and shape the way consumers behave in the future.

Gamification of Consumer Finance

Voice Search

  • Users are able to verbally ask a question of their smartphone, smart speaker, or other enabled devices rather than typing their question into an internet search engine. Using voice search, or a voice assistant, helps users accomplish tasks more easily.
  • This trend of voice search has been increasing with a prediction for 50% of all internet searches to be voice searches by 2020.
  • Voice search is allowing for a more enjoyable shopping experience. 62% of routine voice search users are likely to make a purchase within the next month while 80% who have made a purchase are satisfied with the result. Additionally, 44% of smart speaker owners are likely to make purchases weekly, mostly for routine household items.
  • Industry leaders in voice search are Google and Amazon . Both companies produce smart speakers for the home. The ownership of smart speakers is estimated to rise by 42% from 2018 to 2022. Working to answer search queries correctly is a challenge that must be improved in the future as only 81% of search queries are answered correctly currently.
  • Opportunity awaits brands who can execute well on voice search since 42% of users are welcome to receiving content from brands regarding promotions and specials. Repeat sales can be driven by voice search as well, with 24% of customers spending more money with a brand after a successful voice search experience.

Research Strategy

To determine technology trends that impact consumer behavior, we performed extensive research, using our trusted media sites, relevant surveys, discussions, and reports. This resulted in global trends which were restricted by filtering for location, multiple source mentions, and date.
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