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India Ranks 2nd Globally In AI-Powered Shopping; 76% Consumers Use AI Tools: McKinsey
Sentiment: NeutralHigh Priority
What Happened?
A McKinsey report reveals that India ranks second globally in AI-powered shopping, with 76% of consumers using AI tools. China leads with 80%.
Key points
- 76% of Indian consumers use AI tools for shopping.
- India ranks second globally, following China at 80%.
- The global average for AI shopping adoption is 53%.
- 87% of Indian AI users trust AI chat and search tools.
- 77% of Indian AI users have used Amazon's Alexa for shopping.
- 14% of global AI users have completed purchases using AI tools.
Key insights
- Retailers must enhance their AI capabilities to meet rising consumer demand.
- The shift from AI-assisted to AI-executed transactions could reshape the retail landscape.
- Companies that balance AI integration with product information will likely see growth.
Why it matters
The findings indicate a significant shift towards AI in consumer shopping habits, highlighting the need for retailers to adapt.
Source
Times Now
