Coveo Holiday Report: More than 70% of Consumers Would Use GenAI for Holiday Shopping, Highlighting Untapped Opportunity for Retailers

Core Insights - A significant 85% of Gen Z and Millennials expressed willingness to use a GenAI shopping assistant, indicating a strong demand for AI tools in holiday shopping experiences [1][2] - The report highlights a growing curiosity towards GenAI, with 63% of shoppers interested in trying virtual assistants for gift buying, up from 31% the previous year [2] - There is a notable gap between consumer readiness for AI-powered shopping assistance and the slower adoption rate among retailers, presenting a major opportunity for enhancing customer experience through GenAI [1][4] Consumer Behavior - 72% of shoppers are open to using GenAI guidance, with 35% having already utilized it, showcasing a strong intent to adopt AI tools this holiday season [2] - Practical assistance is sought by shoppers, with 41% wanting help comparing products, 35% seeking budget-based recommendations, and 31% desiring more product information [3] Retailer Insights - Retailers have been hesitant to fully embrace GenAI-powered shopping tools, which presents a missed opportunity to differentiate themselves and reduce shopper stress [4] - The report emphasizes the need for retailers to offer seamless experiences across all shopping channels, as 83% of shoppers plan to shop online and 61% in-store [7] Holiday Shopping Trends - Despite 86% of shoppers expressing concern about holiday shopping, 73% plan to give as much or more than the previous year, indicating resilience in consumer spending [7] - 88% of shoppers globally plan to participate in Black Friday/Cyber Monday, with 91% in the U.S., highlighting the importance of this shopping period for retailers [7] Gift Preferences - Personalized or custom gifts are the most popular category, chosen by 38% of shoppers, reflecting a desire for more thoughtful gifting options [7] - Budget considerations are paramount, with 66% of shoppers stating that cost significantly affects their brand perception [7]