Financial pressures may be a fact of life nowadays, but there’s no indication they’ll be putting consumers off shopping this holiday season. Quite the opposite. Compared to this time last year, a large majority of consumers plan to spend the same or more shopping for gifts, according to Accenture’s Annual Holiday Shopping Survey.
That’s the good news. Less encouraging? They’re becoming increasingly confused by the flood of offers and promotions coming their way. Overwhelmed by choice, 85% of shoppers (as many as 91% of millennials) say they’re likely to walk away from purchases altogether due to frustration or indecision.
An outstanding opportunity within reach
For brands and retailers, this all adds up to an outstanding opportunity to stand out from competitors, build trust with consumers and boost sales.
And this year, gen AI tools provide part of the solution. By enabling curated, personalized recommendations, they can take a lot of the noise out of the online shopping journey, help to build shopper confidence and facilitate purchasing.
