In the last quarter of 2023, three in four consumers walked away from purchases simply because they felt overwhelmed.
That is according to a newly-released Accenture report which has revealed that information overload is impacting people’s confidence in their purchase decisions across the board, from small things like moisturiser to big ticket items like a washing machine.
Despite focus on customer-centricity and personalised experiences over the past few years, the report has found that most people (71%) see no improvement — or even see an increase — in the time and effort required to make a purchase decision.
As a result, the report’s researchers believe that consumers are on track to adopt generative AI-powered advisors at scale over the next two years as they seek to lighten their workloads associated with making purchases.
Companies that use new and emerging AI tools to deliver hyper-personalised experiences can cut through the noise, whilst simplifying decision-making and deepening loyalty, the report said.
Among the benefits, Generative AI can enable consumers to identify options that meet their needs more quickly, improve the conversion experience at the point of purchase and cultivate loyalty by recognising individual consumer tastes and preferences, it added.
Read the full report
