ChatGPT and Metaverse adoption are driving up demand for product information delivered through Augmented Reality (AR) and AI-powered chatbots, according to a recent study conducted by Akeneo, the Product Experience (PX) company. The research, which involved surveying over 1,800 shoppers for the ‘2023 B2C Survey: Product Experience Satisfaction Around the World’ Report, revealed that 69% of UK consumers now want to use AR to find product information during their buying journeys, reflecting a 27% increase compared to the previous year.
Despite some skepticism surrounding the Metaverse, consumer adoption of retailers’ Metaverse offerings is on the rise. The report indicates that 42% of Gen Z shoppers are engaging with brands via web3, and 47% of UK consumers believe that the Metaverse will be widely adopted within the next decade, as highlighted by KPMG’s latest poll. While there have been instances of retailers pulling back from the Metaverse, such as Walmart removing its Universe of Play space on Roblox after a six-month pilot, other brands like H&M are continuing to build and expand their virtual presence within this emerging retail dimension. For instance, H&M launched its Stranger Things collection on its Looptopia Roblox experience in May.
The launch of OpenAI’s ChatGPT app in the UK in November 2022 has also contributed to the increased adoption of chatbot and AI-powered conversational tools. ChatGPT reportedly reached 100 million users just two months after its launch, and in March 2023, Google responded by introducing its own rival AI chatbot called Bard. As a result, consumers now expect chatbot-generated product information as part of their buying journey, with demand growing by 22% year-on-year to reach 59%, as indicated by Akeneo’s poll.
However, while these virtual and AI-driven touchpoints are gaining traction, it is crucial for retailers to remember that they are just one component of the overall omnichannel product experience. Kristin Naragon, Chief Strategy and Marketing Officer at Akeneo, emphasizes the importance of ensuring that product stories are present wherever shoppers are, to deliver on the promised customer experience (CX) and avoid missed sales and repeat purchase opportunities.
Akeneo conducted the study to gain insights into consumers’ decision-making processes and the product information they rely on when making purchasing decisions. The survey involved 1,800 consumers aged 18 and older from Australia, Canada, China, France, Germany, Italy, the United Kingdom, and the United States. The resulting report aims to help brands understand consumer expectations and the importance of prioritizing enriched product experiences.
Akeneo released its first global B2C survey report last year, which quickly became a benchmark for retailers making decisions related to omnichannel product experiences. With minor amendments to the questionnaire, the 2021 survey was repeated to compare consumers’ product experience satisfaction year-over-year.
The growing demand for AR and AI-powered product information highlights the changing landscape of consumer buying journeys, driven by the increasing adoption of technologies like ChatGPT and the Metaverse. Retailers should prioritize delivering enriched product experiences across various channels to meet consumer expectations and remain competitive in this evolving market.
