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Retail Leaders Rely on AI for Search Strategies: Survey

Most retailers said they already use AI to understand customer preferences

Published

4 weeks ago

March 28, 2024

VMSD Staff

Retail Leaders Rely on AI for Search Strategies: Survey — PHOTOGRAPHY: naratrip boonroung/iStock.com

PHOTOGRAPHY: naratrip boonroung/iStock.com

One in four retail leaders say they expect Artificial Intelligence (AI) to expand search experiences this year, according to a survey released by Algolia and Coleman Parkes Research.

The survey of 1100 senior business and IT retail leaders looked at how AI is changing the customer experience of online shoppers. Sixty percent say AI is important to their company’s search strategy – 4 percent said that AI was not important to this at all. Half of respondents said improving the accuracy of searches is the top reason to use AI in search strategies.

Most of the retail leaders surveyed said their company already uses AI for personalized search results based on shopper preferences. Of those retailers already using AI to understand shopper preferences, 51 percent said there was an increase in revenue. More than half use generative AI tools for improved product recommendations.

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