Based on an analysis of sustainability, AI adoption, advertising strategies, and use in international sporting events among approximately 6,000 consumers in six countries around the world, the survey results provide analysis of consumer behavior and market trends in each country and region.
The survey results show that international interest in sustainable consumption is increasing. In particular, the growth of Korean consumers was the most remarkable. Domestic respondents chose ‘recyclability’ as the most important factor in purchasing decisions, which is a 5% increase from the same period last year. Ethical consumption also followed with a 1% increase. The company said that it is noteworthy that recyclability, which was the lowest at 61% last year, has suddenly risen to become the most important factor this year.
The impact of AI on consumption was also confirmed. Among AI tools, ChatGPT was evaluated as the most useful at 38%, while only 31% responded that they do not use AI tools. 37% of domestic consumers who use AI when purchasing products answered that it is ‘good for finding the best price for a product’, and 36% answered that it is ‘useful for finding products that can be purchased within a budget’. In addition, in a survey of product groups that can most reduce consumption time, ‘grocery purchase’ ranked first at 52%, ‘choosing a gift’ ranked second at 49%, followed by ‘finding real estate (23%)’, ‘planning the weekend (22%)’, and ‘purchasing a car (17%)’.
According to a survey of global consumers’ awareness of advertising, the percentage of people who responded that they are aware of the influence of tracking cookies and data sharing on advertising was the highest in Korea. In Korea, 69% of respondents said that advertising provided based on cookie data matches their preferences. In addition, 64% of respondents said that they want to see advertising that takes ethical and sustainable shopping preferences into account, showing that advertising preferences and the most important factors in consumer decision-making tend to match.
Also, in Korea, the industries with the highest year-on-year consumption growth rates over the past six months were clothing and accessories at 19%, followed by furniture, luxury, dining out, and travel at 17%. The company predicted that brands will be able to use AI to group in-market buyers according to their preferences and customize creatives to emphasize the main eco-friendly characteristics of products. In particular, Korea showed a greater consumption growth rate than the US, UK, and Japan. The company predicted that the top priority for the retail advertising industry will be to specify the direction of utilization of generative AI in order to respond to the changing needs and preferences of Korean consumers.
“Generative AI apps are already helping many consumers find the products they’re interested in,” said Kim Do-yoon, CEO of Criteo Korea. “While they’re currently used primarily to speed up searches, AI will soon be helping to recommend eco-friendly products and provide new consumer experiences, such as virtual try-ons, to minimize returns.”
editor@itworld.co.kr
Source: www.itworld.co.kr
