This blog is provided by BRC Associate Member, Accenture.

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Generative AI will enable retailers to build deep and hyper-personalised relationships at a scale not seen before ...but successful execution requires a fundamental shift in the approach to three key phases of the consumer journey

In an era where choice and information overload have left consumers feeling overwhelmed and indecisive, the need for clarity and simplicity in decision-making has never been greater. Recent data reveals a staggering 74% of consumers walked away from purchases in late 2023 due to feeling inundated with options. Despite the emphasis on customer-centric strategies, most shoppers perceive no improvement in their buying experience, with many noting it has become more cumbersome.

However, generative AI is poised to revolutionize the consumer journey by delivering hyper-personalized experiences that cut through the noise. This technology not only simplifies decision-making but also fosters deeper, more meaningful relationships between consumers and brands. By shifting the approach in three pivotal phases—Discovery, Conversion, and Loyalty—companies can transform their role in consumers’ lives, driving unprecedented relevance and loyalty.

A world where your shopping experience is tailored precisely to your preferences and AI-powered advisors provide bespoke recommendations that feel intuitive and natural, is not a distant future but an imminent reality as consumers are set to adopt conversational AI at scale over the next two years. Early adopters of this technology stand to gain a significant competitive edge, creating deeper connections and enhanced loyalty among their customers.

To learn more about leveraging Generative AI and positioning your brand at the forefront of consumer experience, check out the The Empowered Consumer | Accenture  or reach out to matt.jeffers@accenture.com or l.n.bromfield-torres@accenture.com to discuss.