The WARC Podcast Consumer Trends: Using AI and Multigenerational households in the US
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Sep 5, 2024 Chan Suh, Chief Digital Officer at Prophet, and Luke Roberts, Strategy Director at Alma Miami, dive into how AI reshapes the consumer shopping landscape. They discuss the rising demand for personalized experiences and the power dynamics shifting as consumers negotiate directly with brands. The conversation shifts to the growing trend of multigenerational households, emphasizing its impact on consumer behavior. The guests highlight the importance of understanding family dynamics to create products that foster social interactions, adapting marketing strategies to these changes.
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Consumers Will Negotiate With Seller AI
- Consumer-side AI will enable individuals to negotiate prices and deals with seller AI.
- This could democratize negotiation once reserved for B2B or high-value purchases.
Retailers Should Own Consumer AI
- Retailers should build consumer-facing AI because they own the 'last inch' of the supply chain.
- Leverage scale to offer customized deals and learn directly from consumer requests.
Personal Grounding Data Unlocks Consumer AI
- Consumer-owned personal 'grounding' data will make large language models truly useful.
- Personal AIs can remember preferences and act as individual procurement agents.