"Less than 15 years ago, it was fairly common for people to wake up at ridiculously early hours to drive to a store, where they would stand in line, waiting for the doors to open in order to grab the best deals. Those people still exist, but not in the numbers they used to, thanks to the convenience of online shopping (and the early start to holiday deals). But as artificial intelligence becomes more entrenched,"
"That could benefit retailers who have already embraced AI in their recommendation engines, as well as those planning to roll it out. "Consumer adoption of gen AI shows that expectations are shifting toward personalization and efficiency," Deloitte's report states. "Shoppers now expect instant recommendations tailored to their preferences, budgets, and recipients, raising the bar for retailers' digital experiences. To meet holiday shoppers' expectations, retailers could consider embedding AI-powered gift finders, style assistants, or deal copilots directly into their sites or apps.""
Black Friday has shifted from early-morning, in-store bargain hunts to predominantly online shopping and earlier holiday promotions. Reduced in-store attendance reflects convenience of online shopping and extended deals. The average consumer is expected to spend $1,595 on holiday gifts, about 10% less than last year, increasing emphasis on bargains. Approximately one-third of shoppers plan to use AI for holiday shopping, double last year, and over half report intentions to use AI tools during Black Friday and Cyber Monday. AI aids inspiration, product discovery, personalized recommendations, and price research. Retailers that have implemented AI recommendation engines stand to benefit, while others plan rollouts to meet rising shopper expectations by embedding AI-powered gift finders, style assistants, and deal copilots.
Read at Fast Company
Unable to calculate read time
Collection
[
|
...
]