United States Conversational Commerce Market Intelligence Report 2023: Conversational Commerce is Driving the Digital Customer Base for Quick-Service Restaurants
Dublin, April 27, 2023 (GLOBE NEWSWIRE) -- The "United States Conversational Commerce Market Intelligence and Future Growth Dynamics Databook - 75+ KPIs on Conversational Commerce Trends by End-Use Sectors, Operational KPIs, Product Offering, and Spend By Application - Q1 2023 Update" report has been added to ResearchAndMarkets.com's offering.
According to the publisher, conversational commerce industry in United States is expected to grow by 28.8% on annual basis to reach US$347,470.9 million in 2023.
The conversational commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 23.7% during 2022-2028. The conversational commerce transaction value in the country will increase from US$347,470.9 million in 2023 to reach US$1,007,206.3 million by 2028.
Conversational commerce is gaining strong momentum in the United States and the trend is projected to further continue in 2023. The rise of interactive marketing messages is driving the growth of the industry. Consumers are also inclined towards conversational commerce in the North American market.
With consumers willing to share their personal information in exchange for higher-value, conversational commerce is poised to record strong growth in the United States market over the next three to four years.
Global firms are partnering with US-based conversational commerce providers to drive customer engagement
More and more businesses are seeking to leverage conversational commerce capabilities to drive customer engagement and revenue. To incorporate such capabilities, businesses are forging strategic alliances with United States-based conversational commerce providers
In November 2022, Razer, one of the leading lifestyle brands for gamers, announced that the firm had entered into a strategic collaboration with Vonage to access its conversational commerce application, Jumper.ai. Through Jumper.ai, Razer is seeking to engage its customers in the Asia Pacific region. Furthermore, it also plans to drive purchases of gaming gear and accessories on social media platforms through its collaboration with Vonage.
With the prominence of conversational commerce growing among brands and businesses across industry verticals, the publisher expects more such strategic collaborations between global firms and United States-based conversational commerce providers. This will keep driving the growth of the market from the short to medium-term perspective.
Conversational commerce is driving the digital customer base for quick-service restaurants in the United States
With growing digitalization, quick-service restaurants are also leveraging new-age commerce capabilities to drive their revenue and sales growth in the United States. This has led to growing investment in the conversational commerce space over the last few years. This investment in the space is driving positive results for quick-service restaurant giants.
Yum Brands, the parent firm that operates KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill, announced that its conversational commerce platform Tictuk is driving the digital customer base and sales. With millions of orders processed in 2022, the firm is planning to further launch conversational commerce capabilities in more stores worldwide. At the end of 2022, the technology was live in more than 3,200 stores across 49 markets.
From the short to medium-term perspective, the publisher expects more players in the quick-service restaurant industry to implement conversational commerce strategy into their marketing mix to drive revenue and sales growth, while also enhancing engagement with customers.
Strategic collaborations between industry giants to boost conversational commerce growth in the United States
With commerce changing at a rapid rate in the United States, firms are constantly innovating with their products and services to deliver more value for their customers. To enhance their value offering, firms are also entering into strategic collaborations in the conversational commerce space.
In September 2022, Meta and Salesforce, two of the leading businesses in their verticals, entered into a strategic collaboration to deliver more value for their customers and drive their business growth. As part of the partnership, all businesses that make use of Salesforce's platform will be able to use WhatsApp Business messages to run marketing campaigns, answer customer questions, and sell products through messages.
The collaboration between the two industry giants will not only deliver more value for Salesforce's customers and drive growth for Meta, but the partnership will also aid the growth of the conversational commerce industry in the United States from the short to medium-term perspective.
This report provides a detailed data centric analysis of conversational commerce industry, covering market opportunities and risks. With over 50+ KPIs at country level, this report provides a comprehensive understanding of conversational commerce market dynamics, market size and forecast, and market share statistics.
The research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view on emerging business and investment market opportunities.
Reasons to buy
In-depth Understanding of Conversational Commerce Market Dynamics: Understand market opportunities and key trends along with forecast (2019-2028).
Insights into Opportunity by end-use sectors - Get market dynamics by end-use sectors to assess emerging opportunity across various end-use sectors.
Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate conversational commerce strategy; assess market specific key trends, drivers, and risks in the industry.
Scope
This report provides in-depth, data-centric analysis of conversational commerce in United States. Below is a summary of key market segments:
United States Conversational Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators
Transaction Value
Transaction Volume
Average Value Per Transaction
United States Conversational Commerce Industry Market Size and Forecast by Virtual Assistant Type
AI-Based Virtual Assistants
Non-Intelligent Chatbot
United States Conversational Commerce Industry Market Size and Forecast by Virtual Assistant Type
Chatbots
Digital Voice Assistants
OTT Messaging
RCS Messaging
United States Conversational Commerce Industry Market Size and Forecast by Chatbots
Web-Based
App-Based
United States Conversational Commerce Industry Market Size and Forecast by Key Sectors
Retail Shopping
Travel & Hospitality
Online Food Service
Media and Entertainment
Healthcare and Wellness
Financial Services
Technology Products and Services
Other Sectors
United States Conversational Commerce Industry Market Size and Forecast in Key Sectors by Product Offering
Retail Shopping Market By Chatbots
Travel & Hospitality Market By Chatbots
Online Food Service Market By Chatbots
Media and Entertainment Market By Chatbots
Healthcare and Wellness Market By Chatbots
Financial Services Market By Chatbots
Technology Products and Services Market By Chatbots
Other Sectors Market By Chatbots
Retail Shopping Market By Digital Voice Assistants
Travel & Hospitality Market By Digital Voice Assistants
Online Food Service Market By Digital Voice Assistants
Media and Entertainment Market By Digital Voice Assistants
Healthcare and Wellness Market By Digital Voice Assistants
Financial Services Market By Digital Voice Assistants
Technology Products and Services Market By Digital Voice Assistants
Other Sectors Market By Digital Voice Assistants
Retail Shopping Market By OTT Messaging
Travel & Hospitality Market By OTT Messaging
Online Food Service Market By OTT Messaging
Media and Entertainment Market By OTT Messaging
Healthcare and Wellness Market By OTT Messaging
Financial Services Market By OTT Messaging
Technology Products and Services Market By OTT Messaging
Other Sectors Market By OTT Messaging
Retail Shopping Market By RCS Messaging
Travel & Hospitality Market By RCS Messaging
Online Food Service Market By RCS Messaging
Media and Entertainment Market By RCS Messaging
Healthcare and Wellness Market By RCS Messaging
Financial Services Market By RCS Messaging
Technology Products and Services Market By RCS Messaging
Other Sectors Market By RCS Messaging
United States Conversational Commerce Industry Market Size and Forecast by Organization Size
Large Enterprise
Medium-Sized Enterprise
Small Enterprise
United States Total Spend on Conversational Commerce Market
United States Conversational Commerce Industry Market Size and Forecast by Spend on Application
Software Application
IT Services
Consulting Services
United States Conversational Commerce Spend on Key Sectors
Retail Shopping
Travel & Hospitality
Online Food Service
Media and Entertainment
Healthcare and Wellness
Financial Services
Technology Products and Services
Other Sectors
For more information about this report visit https://www.researchandmarkets.com/r/asr0tr
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
