The post-Thanksgiving Monday, known for its exceptional online deals in Tampa, Florida, now witnesses a transformative influence from artificial intelligence (AI) on both consumers and businesses during the annual shopping spree.
Dipayan Biswas, a prominent professor at USF specializing in sales and AI, highlights the unprecedented integration of conceptual AI into this year’s holiday shopping season. This innovative approach involves leveraging AI to optimize product management on e-commerce platforms, potentially affecting pricing strategies and promotional durations.
Businesses are increasingly utilizing AI systems to gain insights into consumer preferences and behavior, enabling personalized ad campaigns tailored to individual customers. This shift towards targeted advertising on Cyber Monday signifies a deliberate effort to enhance relevance and engagement, as explained by Biswas. The strategic placement of ads on websites and social media platforms is designed to resonate with specific audiences effectively.
Moreover, the emergence of Chat GPT as a tool for aiding customers in selecting holiday gifts marks a significant advancement this season. With a wide range of query options based on demographics and categories, such as gift suggestions for a 6-year-old sibling or a spouse, the likelihood of recipients disliking their presents is minimized.
Biswas predicts a reduction in post-purchase returns and exchanges, attributing this trend to the personalized shopping experience facilitated by AI technologies. The extended duration of promotional offers leading up to Cyber Monday reflects a departure from the conventional one-day deep discounts, with online retailers leveraging AI to drive sales over an extended period.
While online shopping continues to thrive, the frenzy associated with Cyber Monday has evolved into a more prolonged and strategic sales event, spanning several weeks. The evolving landscape of holiday shopping, shaped by AI advancements, has transformed the traditional retail calendar, making the once-exclusive Cyber Monday a more extended and inclusive sales period, according to Biswas.
