Insights from IBM’s 2024 Consumer Study: Shopping Preferences, AI, and Sustainability

Are you one of the consumers who would like to use bots, virtual assistants, augmented reality, and artificial intelligence while shopping? According to a recent IBM study, more than half of consumers are interested in incorporating these technologies into their shopping experiences. However, only a small percentage of consumers are satisfied with their current in-store and ecommerce shopping experiences.

The study, which surveyed 20,000 consumers across 26 countries, revealed some interesting insights into consumer preferences and expectations when it comes to shopping. For example, the majority of consumers who haven’t yet used artificial intelligence for shopping are interested in using it to research products, find deals, and get customer service support.

Despite the growing interest in AI and other advanced technologies, many consumers are still facing challenges when it comes to accessing their orders, shopping carts, and purchase histories. Additionally, the study found that chatbots and virtual assistants are not always meeting consumers’ expectations, with only a third of users reporting satisfaction with their experiences.

One solution to improving the shopping experience is the implementation of generative AI assistants. These assistants can provide personalized shopping suggestions in natural language, drawing on customer data to enhance the overall experience. By analyzing historical sales data and market trends, generative AI can also help companies optimize production levels and reduce waste.

In addition to technological advancements, sustainability is becoming an increasingly important factor for consumers when choosing brands to shop from. The study found that a significant percentage of consumers prioritize sustainability and are willing to pay more for sustainable products. However, consumers also want more transparency from companies about their sustainability practices and the use of safe and natural ingredients.

Overall, the IBM study highlights the evolving landscape of consumer shopping habits and preferences. As technology continues to play a significant role in the shopping experience, companies will need to prioritize customer trust, transparency, and sustainability to meet the changing expectations of today’s consumers.