Across all industries, the consumer of today is faced with a staggering array of choices. When they much choose from so many options when shopping, consumers can often experience a phenomenon known as “choice paralysis.”
What is Choice Paralysis?
Choice paralysis can best be described as that point in time when a consumer is faced with so many choices that they are not able to easily comprehend them all. There are a number of unwanted results that occur during this process including frustration and reduced confidence in their purchase decisions. While both of can adversely affect a business’ bottom line, it is the inability of the consumer to make a decision and not taking action at all that harms companies the most. The result is the abandonment of the entire shopping excursion.
What Can Businesses do to Alleviate Choice Paralysis?
With more choices available, consumers expect brands to provide them with a frictionless experience. This includes guiding them to the services and products that best meet their needs. This expectation is supported by the fact that more than 40 percent have abandoned a purchase they’d planned to make because of too many choices. More than half have left a particular site because it was too hard for them to find the right product or service.
Businesses can help provide a frictionless experience by delivering human experiences. Personal and contextual experiences across digital channels help connect with consumers, resulting in more conversions and an increase in loyalty. This aspect is important because today’s culture of immediacy and instant gratification has changed how businesses and their customers interact and relate.
Can AI Help?
It’s not realistic for most businesses to have staff on hand 24/7 to help consumers navigate their websites and guide them to the right products and services. Digital assistants fueled by artificial intelligence can increase consumer confidence in their buying decisions. They do so by engaging consumers in dynamic conversations that include intelligent questions that are designed to gauge their needs and interests. The result is a curated gallery of highly-relevant services and products.
In order to address the increasing confusion consumers feel when faced with today’s digital landscape, businesses need to engage with them on a more human level. AI-powered digital assistants can help when a human isn’t available.
