Consumers are continuing to resonate with artificial intelligence (AI) and one-third of consumers are using GenerativeAI (GenAI) programs, such as ChatGTP, in their daily lives, according to a new survey from Intellias.
Millennials and Gen Z are using GenAI tools at even higher rates – with 60 percent of Millennials and 49 percent of Gen Z.
Consumers are also becoming more aware of AI when making purchases. 44 percent of consumers surveyed said AI helps retailers develop personalized shopping experiences.
The top five areas AI can be most valuable, according to the consumers surveyed, are:
- Pricing and promotions: 28 percent
- Loyalty – real-time personalized rewards: 23 percent
- Product discovery when searching online: 23 percent
- Product validation: 19 percent
- Product recommendations personalized by AI: 19 percent
“There’s little doubt that the hype-curve surrounding GenAI will continue to accelerate in 2024,” said Alexander Goncharuk, VP of Retail at Intellias. “And this will be driven both by the consumer who will become even more used to AI-interfaces in their day-to-day lives, as well as by the retailers innovating and exploring different use cases that drive efficiencies and enhance customer experience across the value chain.”
Family Legacy, New Chapter: How Wilkerson Turns 89 Years of History Into Future Success
After 89 years of serving the Albany community, Harold Finkle Your Jeweler faced a pivotal decision. For third-generation owner Justin Finkle, the demanding hours of running a small business were taking precious time away from his young family. "After 23 years, I decided this was the time for me," Finkle explains. But closing a business with nearly nine decades of inventory and customer relationships isn't something easily managed alone.
Wilkerson's comprehensive approach transformed this challenging transition into a remarkable success story. Their strategic planning handled everything from advertising and social media to inventory management and staffing — elements that would overwhelm most jewelers attempting to navigate a closing sale independently.
The results speak volumes. "Wilkerson gave us three different tiers of potential goals," Finkle notes. "We've reached that third tier, that highest goal already, and we still have two weeks left of the sale." The partnership didn't just meet financial objectives—it exceeded them ahead of schedule.
