Study: Chatbots To Drive $112B In Retail Sales By 2023

While chatbots have been derided for their inability to handle complex interactions with humans, tech companies are investing billions of dollars in the technology to make bots more conversational. As Juniper’s forecast suggests, chatbots are about to embark on a massive growth trajectory that will transform the retailing industry. Most of the transformation will come from costs savings rather than revenue growth, as chatbots likely will draw away sales from other marketing channels, Juniper said.

The firm’s forecast suggests that many consumers will overcome their resistance to interacting with chatbots as the technology improves. Only 40% of consumers said they were interested in chatbot experiences from brands, including 20% who said they’re very interested in interacting with the AI technology, per a survey by location marketing firm Uberall. More than one-third (36%) of consumers said the technology needs to improve, and another 43% said chatbots need to improve understanding of questions and requests…[READ MORE]

Source: Study: Chatbots To Drive $112B In Retail Sales By 2023 | retaildive.com

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