Amazon shares news: Tech giant seen dominating growing voice shopping market

Amazon shares closed higher Friday, ahead of a new report suggesting it's likely to dominate the growing voice shopping market.

Amazon shares news: Tech giant seen dominating growing voice shopping market

Amazon shares ended the US Friday session higher, ahead of the release of research suggesting the tech giant will dominate the growing voice shopping sector. The research was conducted by OC&C Strategy Consultants and shows Amazon is well placed to take advantage of the next retail disruptor.

Amazon shares closed 0.46% higher at £1,500.25, Friday. Meanwhile, after-hours trade currently has the stock in the green, too.

Voice shopping market to expand

According to the report on voice shopping, OC&C expects the market to rise from a value of some $2 billion now, to $40 billion by 2022.

The consultancy said that around 13% of US households currently own and use an AI voice assistant in their home. A number that they say will surge to 55% by 2022. And it’s this is increase in AI voice assistance usage, that will drive the growth in voice shopping.

Further details show that across the US, Amazon’s Echo has the highest market penetration, owned by some 10% of households. Google’s Home device is in second place, covering 4% of the market and Microsft’s Cortana is owned by 2% of the market.

Apple is behind the curve having only recently released its HomePod AI voice assistant.

“Voice commerce represents the next major disruption in the retail industry, and just as e-commerce and mobile commerce changed the retail landscape, shopping through smart speaker promises to do the same,” said OC&C associate partner, John Franklin.

Amazon collects sales tax in Pennsylvania

Separately, Amazon will now begin collecting sales tax from third-party sellers who use its ecommerce site in the state of Pennsylvania. This is the second state to have passed a law on this detail. Washington was the first.

However, while other states are also working towards implementing this status, there is a case waiting to be hard in the US Supreme Courts that could bring an end to this planning.

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