Survey: Business leaders to invest in social commerce, AI ahead of holidays
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Commercetools also noted that AI is on the agenda for business leaders ahead of the 2024 holiday season. Currently, 62% of businesses are already leveraging AI, with another 32% planning to implement it. While half (51%) of retailers are using chatbots for customer support and 93% are benefiting from AI-driven personalized advertising, Commercetools says the focus is shifting toward AI applications with proven ROI.
The vast majority of retailers (91%) retailers report improved forecasting accuracy from leveraging AI, which helps them avoid costly stockouts or overstocks, while 94% have enhanced their fraud detection capabilities in response to rising online threats.
“If you're not deeply embedding these technologies into your business, you're not just behind — you're risking irrelevance in the most critical sales period of the year," added Jones.
Commercetools surveyed more than 500 business leaders across the commerce landscape for its latest report.