Over half (53%) of Australian shoppers are considering using AI-powered tools for hunting deals during Black Friday and Cyber Monday sales.
This significant statistic underscores the burgeoning acceptance of AI as a reliable tool capable of delivering personalized and tailored solutions that cater to the unique needs of each customer.
UserTesting, a renowned leader in experience research and insights, has recently unveiled the findings of a global survey conducted in partnership with OnePoll, shedding light on Australian consumer attitudes and experiences concerning the utilization of artificial intelligence (AI) in the upcoming festival sales. This survey provides intriguing insights into the evolving landscape of consumer preferences and technology adoption Down Under.
Australia’s Generative Artificial Intelligence Opportunity Report paints an optimistic picture of the nation’s economic future. It highlights the substantial potential for Generative Artificial Intelligence (GAI) to make a transformative impact, potentially contributing an astonishing $115 billion annually to the country’s economy by 2030. This promising outlook aligns seamlessly with the sentiments expressed by Australians in UserTesting’s survey. Astonishingly, over 28% of respondents believe that AI possesses a better understanding of their shopping preferences compared to even their closest friends and family members. Out of this group, 12% go as far as to assert that AI has a better grasp of their shopping habits than they do themselves. Moreover, an impressive 63% of Australians firmly believe that AI enhances their overall shopping experience, citing key factors such as time efficiency (67%), access to superior deals (59%), and the unmatched convenience it provides (56%).
However, while Aussies exhibit a notable openness to embracing technology in their retail journeys, a considerable 36% of respondents express a strong preference for discovering the best shopping deals through traditional in-person methods. For them, the tactile and tangible aspects of the in-store shopping experience hold significant value when it comes to deal hunting. Conversely, a mere 15% of respondents rely on online platforms, particularly social media, as their go-to source for uncovering the most attractive deals.
The topic of privacy also emerges as a critical factor in the Australian consumer experience. The UserTesting survey reveals that only 24% of Australians feel comfortable sharing their personal information with brands in exchange for exclusive deals and personalized recommendations. A significant 50% expressed discomfort with such practices. For those who are willing to share information, the types of data they are comfortable sharing include their email address (68%), full name (57%), birthdate (50%), food preferences (32%), favorite colors (32%), and hobbies (31%).
Global retailers plan to adopt AI, ML, and CV in the next year
A recent survey conducted by Honeywell has revealed that approximately 60% of retailers on a global scale are gearing up to embrace cutting-edge technologies such as artificial intelligence (AI), machine learning (ML), and computer vision (CV) within the next year. These technological advancements are anticipated to usher in substantial transformations in the retail landscape, impacting both physical brick-and-mortar stores and the online retail sphere.
What’s intriguing is that the survey underscores the perspective of retailers who see these advanced technologies as tools aimed at augmenting their workforce rather than displacing human jobs. Honeywell, renowned for its industry-specific solutions promoting smarter, safer, and more sustainable supply chains, conducted this comprehensive AI in Retail survey. The study spanned the globe, encompassing approximately 1,000 retail leaders in key positions within IT, operations, and customer experience across regions including the United States, Europe, the Middle East, and Africa.
Significantly, retail leaders anticipate that AI, ML, and CV will add substantial value to four fundamental retail functions: automating and facilitating daily tasks such as scheduling and order picking, enhancing customer service via digital channels like live chat, crafting targeted marketing campaigns, and refining inventory management.
To access the UserTesting AI & Shopping Report, click here.