In Visa’s latest read on consumer behavior, researchers at the payments giant found shoppers approaching the holiday season with a higher level of concern about fraud and security. They’re also eyeing more cross-border opportunities to make purchases and, similar to other recent surveys, they are seeking out deals with a values-focused mindset.
Visa also revealed that there “may be a ‘Secret Sant-AI’ behind your presents this year.”
The survey, commissioned by Morning Consult and polling more than 1,000 U.S. adults, found 41 percent of respondents said they wouldn’t tell someone that AI helped choose their gift, “as more shoppers quietly hand AI the job of finding gifts and tracking down deals,” the report noted. The survey showed that 54 percent of respondents said they have already used AI for at least one shopping task, which is up from 47 percent in last year’s survey.
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The report’s authors said the data “paints a picture of consumers juggling persistent cost pressures, evolving technology and heightened fraud concerns, while still finding ways to check every box on their gift lists.”
Digging deeper into the findings showed that AI is playing a more important role, and consumers are using it for practical purposes such as comparing prices (61 percent), checking availability (59 percent), finding discounts (57 percent) and suggesting gift ideas (54 percent).
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