A research report says Indian consumers are stress with too much information.
| Photo Credit: The Hindu Archives
An Accenture research report highlighted the issue of ‘information overload’, with 76% of consumers in India feeling inundated by “too much choice” and 74% saying they are bombarded by advertising, resulting in 88% abandoning purchases in the last three months of 2023.
The Accenture research report “The Empowered Consumer” offered fresh insights into consumers’ decision-making experiences across the retail, travel, and consumer goods industries. The report is based on a survey of 19,000 consumers across 12 countries, including India.
The research also found that most people (67%) in India see no improvement or even see an increase in the time and effort required to make a purchase decision. This is comprised of the 40% who think it has got harder and 28% who see no change. 33% think it takes less time and effort.
Looking across categories, the research also points to the challenges that consumers experience when trying to make purchase decisions. These are not confined to big-ticket items. For example, buying snacks is harder than buying the rest of the weekly groceries; buying a moisturiser is on par with buying a washing machine; and buying any type of beverage is as challenging as booking travel.
Vineet R Ahuja, Managing Director and Lead – Strategy & Consulting, Accenture in India said, “Our survey shows that Indian shoppers are experiencing greater ‘decision stress’ at every stage of the buying journey. Consumer-facing companies will need to rethink how products and services are branded and marketed, making it easier for shoppers to navigate through the noise and make confident purchase decisions.’‘
According to the report, the empowerment of consumers through generative AI, other technologies, and new ways of working will shift how people think about brands. Companies can make fundamental shifts across discovery, conversion, and loyalty to reinvent the decision-making process, and the relationships they have with consumers, and the role they play in their lives..
“Overall, use of generative AI and AI-powered advisors in retail and consumer goods can enable companies to better understand their customers, deliver relevant and engaging experiences, and drive business growth,’‘ said Amneet Singh, Managing Director and Lead – Products, Accenture in India.
The survey deep-dived around the challenges faced by consumers along the consumer journey for eight categories: beauty products, over-the-counter remedies, groceries, snacks, clothing, consumer electronics, flights, and hotels/resorts.
