ChatGPT-Inspired Christmas Shines Bright on Moneyweb
In the past, securing the best bargains on Black Friday meant spending hours camped outside Best Buy or Walmart, only to rush into the store at dawn. Today, astute shoppers are increasingly turning to ChatGPT and various AI tools to streamline their shopping experience.
For the second consecutive year, Jim Malervy, 46, from Philadelphia, is employing ChatGPT along with other AI solutions for his holiday shopping. Thanks to an AI-driven pricing app, last year he snagged a $50 discount on an iPad for his eldest daughter.
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This year, he is searching for a Margot Robbie rollerblading Barbie doll from the hit movie for his younger daughter. He plans to utilize several apps, including PayPal’s Honey, which searches for the best prices. His goal: a 30% discount.
Shedding the stress of physical stores, he mentions that AI eliminates the fear of missing out on Black Friday deals. “Sometimes you feel anxious,” remarked Malervy, who runs the site AI GPT Journal. “You want to ensure you’re receiving the best price.”
Malervy is part of the 44% of anticipated Black Friday shoppers who intend to use AI this year, based on a survey conducted by research firm Attest among 2,000 consumers. Numerous AI companies, such as OpenAI and Perplexity AI, have expanded their shopping and search functionalities to appeal to consumers during the festive season.
Retailers are preparing for record shopper turnout over the Thanksgiving weekend. However, well-known chains like Kohl’s Corp. and Best Buy Co., which are traditionally popular Black Friday spots, issued disappointing sales forecasts on Tuesday, cautioning that consumers are waiting for bigger sales events.
A Glimpse into the Future
American shoppers are entering the holiday season weighed down by multiple stress factors, including inflation, the aftermath of a divisive presidential election, and several ongoing conflicts. They’re being selective about their spending, seeking ways to alleviate the challenge of finding reasonably priced gifts.
This has led some consumers to entrust their holiday shopping to digital bots. Retail giants such as Amazon.com Inc. and Walmart Inc. are also relying on AI to simplify shopping and deal discovery.
“I truly believe this is a preview of what’s to come,” stated John David Rainey, Walmart’s Chief Financial Officer, in a recent interview, emphasizing that the retailer is developing AI tools to enhance product search capabilities.
Frédéric Bourgeois-LeBlanc, a 32-year-old from Montreal, shared that his visits to Best Buy to acquire the latest gadgets have become too stressful, necessitating extensive research to find the best products at the best prices. Working in public relations, he now utilizes Weever.AI, a new site where shoppers can pose questions and receive product recommendations. This Black Friday, he is in search of gaming headphones for his Xbox, finding AI a convenient solution for someone like him who is not accustomed to conducting thorough research.
Weever is preparing its systems for a influx of users. “We anticipate a surge,” expressed Co-Founder and CEO Frédéric Marcoux. Perplexity AI, which recently introduced a shopping bot, also reported an increase in search activity surrounding “Black Friday” and “Cyber Monday.”
The use of AI tools also modernizes the traditional approach to planning a shopping spree. Rather than spending hours organizing store hours and deals, ChatGPT can generate an itinerary for even the most dedicated Black Friday shoppers.
During a recent request for a Black Friday itinerary, ChatGPT proposed an ambitious 12-hour tour of New York City, starting at 6:30 a.m. at Macy’s Inc. in Herald Square. The plan included upscale shopping on Fifth Avenue, trendy finds in Soho, stops at Best Buy, the B&H electronics store, and the Strand bookstore, rounded off with lunch at Chelsea Market. The itinerary came complete with a reminder to “stay hydrated and wear comfortable shoes” to combat the intensity of walking and crowds.
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However, generative AI like ChatGPT often requires some refinements. Its responses aren’t fixed; it operates based on probability to determine which answers to provide. In some instances, the information it provides may be outdated or incorrect.
When asked, “Where should I go Black Friday shopping in NYC?” ChatGPT suggested lunch at the food hall at the Plaza Hotel, which has been closed for several years.
When prompted for alternatives, the bot suggested fast-food establishment Shake Shack for lunch and the popular Carbone for dinner, which surprisingly, has no reservations available on that day or for the entire next month. ChatGPT cautions users about its potential errors and encourages them to verify any critical information, according to an OpenAI spokesperson. Paid versions of the service feature real-time search capabilities and may yield different — and more accurate — results.
Unlocking Deals
In many instances, shoppers report that the best deals are no longer found in brick-and-mortar stores or readily visible on retailers’ websites. With the advent of dynamic pricing and rapidly evolving deals, shoppers have had to step up their game.
“Sometimes, when you search, it feels like you’re looking at deals from 2020,” said Lisi, 17, a student and online influencer known as Lisi Shops on YouTube and TikTok, who requested Bloomberg withhold her last name. “I want the deals from this year.”
Lisi has been studying AI in school and has started embracing the concept of using ChatGPT for deal-finding after spending countless hours searching online.
Sana Akibu, a digital merchandising manager from Gaithersburg, Maryland, stated that she now kicks off every shopping search on ChatGPT.
This past year, she spotted a deal for a bracelet on Instagram but later could not locate it again. “I knew I’d seen their deals before. So I thought, let me ask ChatGPT and see what happens,” said Akibu.
She prompted the bot for promo codes from the brand, specifying the date to ensure it was a current deal. “This opened up a whole new shopping experience,” she said. She plans to utilize the bot for her family’s Black Friday shopping and likely more in the future.
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