IBM report highlights interest in AI shopping

The retail industry is facing economic headwinds and increasing pressure from consumer expectations. To better understand the gap between consumer demand and retail offerings, IBM conducted a global study.

IBM released its third biennial consumer research report, "Revolutionizing Retail with Artificial Intelligence: Customers Will Not Wait." The report is based on findings from a survey of 20,000 global consumers from 26 countries on their digital habits and use of artificial intelligence.

The report found that consumers were dissatisfied with the retail experience. Only 9% of respondents are satisfied with shopping in physical stores, while only 14% are satisfied with shopping online.

Interestingly, surveys show that consumers have shown strong interest in using artificial intelligence technology to enhance their shopping experience. 59% of consumers surveyed said they were interested in using AI applications, while 80% of respondents who had never used AI for shopping expressed interest in trying it.

Although consumers have shown high interest in using artificial intelligence, the report notes that they are less satisfied with current AI assistants. Of those who use a virtual assistant, only about one-third are satisfied with the experience. Nearly 20% of people said they were very disappointed and no longer willing to use artificial intelligence virtual assistants.

Luq Niazi, global managing partner of IBM Consulting and leader of industrial and global consumer industries, pointed out that according to IBM’s 2024 Consumer Study, consumers are increasingly interested in using artificial intelligence tools in the shopping process. The bigger. More than half of consumers want to use virtual assistants when shopping. However, there is currently a huge gap between the capabilities of AI tools and consumer expectations. This means retailers need to further enhance the capabilities of their AI tools to meet consumer demand. Artificial intelligence assistants will play an important role in the future, providing shoppers with a more personalized and convenient shopping experience.

According to Niazi, most current AI assistants fall short in understanding and effectively responding to user shopping queries. To improve the shopping experience, retailers can provide personalized, efficient service and free human customer service representatives from tedious tasks to better handle complex requests. In this way, consumer satisfaction will be improved and retailers will gain a competitive advantage in a highly competitive market.

Market indicators indicate that the application of artificial intelligence technology in the consumer retail experience is necessary. This trend is seen in other industries as well. According to IBM’s recently released CEO Guide to Generative AI, by 2025, 84% of companies plan to invest in and use text-based generative AI assistants. In an early study, IBM found that three-quarters of CEOs surveyed believed that organizations with the most advanced generative AI technology would have a competitive advantage.

There seems to be a lot of interest in investing in artificial intelligence to harness its huge potential. IBM's research focuses on retail experience, emphasizing that retailers will combine artificial intelligence technology with digital and physical shopping experiences to meet changing consumer needs. This opportunity helps create an efficient, intuitive and personalized shopping experience.

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