Gen Z & Millennials Spend Over $13 Billion A Year Through Smart Speakers

Apr 29 2019

Our new trend report dives into the rise of smart speakers, how brands should get involved, and the amount of money that young consumers are reporting they spend through the devices already…

Young consumers have spoken. Voice-activated technologies are the future, becoming more mainstream than ever. Siri is almost 9 years old and younger digital assistants, like Alexa and Google Home, are thriving. As with many new technologies, the earliest adopters are Gen Z and Millennials.

According to our recently released trend report Speaker Culture, one in three 13-36-year-olds currently have a smart speaker and another 36% are interested in owning one. Convenience and the desire to make their lives easier are the top reasons young owners have these devices—which makes sense for the Ain’t Nobody Got Time For That generations. Innovative new tech gives them back more time in their busy schedules, and voice assistants fit the bill, allowing users to speak their desires without the added steps of opening devices, searching applications, and typing requests.

The majority of young smart speaker owners are using their devices every day for simple tasks and quick questions. Beyond getting weather updates or setting alarms, they’re also making quick, convenient purchases through their devices, turning smart speaker platforms into hands-free, voice-activated marketplaces. Close to half of owners have made a purchase through their smart speaker, and they report spending an average of $167 monthly. Based on this self-reported purchasing figure, they currently have the potential to spend over $13 billion annually through their smart speakers. Music platforms, food delivery services, ride-share services, retailers that sell basic household items, and others, have found ways to seamlessly integrate into this new marketplace—however there are more ways for brands to join the conversation. According to the majority of smart speaker owners, they would use branded apps with their smart speaker and wish brands would create more commands to work with their devices.

Want to know more about smart speakers and how brands can join the conversation? Click here to see our full report on Speaker Culture and check out our infographic below for a brief overview of the trend:

 

To download the PDF version of this insight article, click here.

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