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AI and the Consumer

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Jan. 10, 2020—A Cox Automotive study in 2019 shows that consumers are more reliant on technology. In fact, the 2019 VinSolutions Technology and Personalization of Retail Study says that  technology adoption is high across all generations and not just the youngest generation.

 

78 %

of consumers believe personalization technology benefits companies more than it benefits them.

 

68 %

of consumers don’t mind companies using personalization technology if it improves their overall shopping experience

 

76 %

of consumers expect their dealer to know something about them before entering the dealership

 

Artificial intelligence (AI) technology can help shorten the sales cycle for the consumer by providing the sales team with information about the consumer ahead of the consumer walking in the doors, says Mo Zahabi, senior director of product consulting at VinSolutions and Dealertrack F&I. 

"Studies say that more than 50 percent of customers shop with a retailer that recognizes them or knows their purchase history," Zahabi says. 

 

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