Accenture Consumer Research 2024 found a troubling trend: 74% of respondents stopped making purchases due to feelings of “information overload.” Too much choice, too many unclear product characteristics, too many salespeople: all this interferes with customers.
Despite companies' best efforts at customer-centricity and personalization, the majority of consumers (71%) do not see an improvement in their decision-making process when choosing a product.
At the same time, “information overload” affects confidence in choice, regardless of whether it concerns small things like cream or such large purchases as a washing machine.
75% of shoppers would like to be able to quickly and easily find products that meet their individual needs. The good news for them is that new artificial intelligence (AI) tools can offer a “hyper-personalized experience” that not only cuts through the information noise, but also simplifies the decision-making process, strengthening customer loyalty.
In the next two years, conversational AI is expected to be widely deployed, making it easier for customers to find the product they need. As consumers trust AI tools to make choices, the tools themselves will learn more about customers, adapting to changing preferences and becoming more useful. Generative AI is becoming a tool for making informed decisions.
