Chatbot consumer spending to reach $142B by 2024 - report

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Mobile Marketer reports that consumer retail spending via chatbots is expected to reach $142 billion come 2024, an increase from $2.8 billion from last year.

Chatbot tech saved companies approximately $164 million (2019), with retailers owning the highest share of market savings at 77%, followed by healthcare at 19%, and retailers at 4%.

Furthermore, 48% of users access chatbots via messaging platforms, 43% through websites, and 9% via discrete applications. By 2024 however, 80% of global consumer spending via chatbot will take place via discrete apps or those chabots coming directly from a retailer rather than using browser or in most cases, Facebook Messenger.

While chatbot tech potentially reduces costs by minimizing customer representatives and helps shrink overhead costs, it's still unclear whether consumers prefer chatbots. A 2019 survey found that 39% of respondents said they had good experience with with an online chat platform, but only 16% agreed to a good experience with chatbots

What's your opinion on chatbots? Would you prefer talking to a real person? Or would you rather have mundane conversations be done with automation? Chime in.
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