Boomers are least likely to participate in deal days, with 41% saying brands don’t offer the best deals during deal day sales
Akeneo, the Product Experience (PX) leader, announces new findings from its latest PX Pulse Survey, revealing generational differences in how consumers are engaging with brand deal days, such as the upcoming Prime Days (June 23-26), to find the best prices and product offers. The findings also indicate that younger generations are far outpacing older generations when it comes to embracing AI tools for shopping research, recommendations and purchases.
Millennials and Gen Z Are More Trusting of Brands to Be Transparent About Deals
Amidst economic uncertainty, Millennials and Gen Z are opting to save money by participating in deal days this year, with 42% of Gen Z planning to spend more than last year on deal days, and 37% of Millennials saying the same. Meanwhile, Boomers are the most conservative group, with only 12% planning to spend more, and 27% saying they don’t plan to shop at all during Prime Day.
The rationale behind Boomers’ lack of participation comes down to trust — 41% say brands don’t offer the best deals and discounts on major deal days, compared to 70% of Millennials who believe brands do offer the best deals. Financial stability and comfortability may also play a factor in participation, considering that 27% of Boomers say the current economic state is not impacting their shopping behavior, while a quarter of Gen Z (25%) and Millennials (24%) are using deal days to prioritize low-cost, everyday essentials over larger purchases.
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AI and Other Factors Impacting Purchase Decisions
While older generations are lagging when it comes to AI’s impact on shopping behaviors, Gen Z leads AI adoption at 56%, followed closely by Millennials at 54%. Only 22% of Boomers have used AI tools for shopping. How generations are using AI also varies. Millennials use AI to find deals (45%) and compare products or prices (42%), while only 14% of Boomers are using AI to find deals, and 18% to compare products or prices. Additionally, more than half of Millennials (54%) and Gen Z (53%) say AI has influenced a purchase decision, and 29% of both generations have directly purchased a product based on an AI recommendation. AI’s influence wanes with older consumers, with only 14% of Boomers being influenced, and 18% of Gen Xers.
While AI’s influence on shopping behavior is growing, especially among younger consumers, it’s not the only factor driving decisions. Millennials are most influenced by customer reviews (27%), and Gen X prioritizes detailed product information most (19%). Despite their skepticism about deal days, Boomers are still the most price-conscious shoppers, with 66% citing final price as the most important factor impacting purchase decisions – 63% of Gen Xers say the same.
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What This Means for Brands and Retailers
“Consumers are turning to major deal days looking for value, but they’re also looking for confidence in their purchase decisions,” said Romain Fouache, CEO of Akeneo. “Our research shows that while younger generations are increasingly turning to AI to discover products, compare options, and find the best deals, trust remains the foundation of every purchase decision across all age groups. Regardless of which factors consumers rely on to make purchase decisions (AI recommendations, customer reviews, price comparisons, etc.), the quality of product information will increasingly determine which brands earn consumer confidence and ultimately win the sale.”
While deal days create a momentous opportunity for brands and retailers to attract and engage customers, it’s critical they understand that promotions can’t be a one-size-fits-all approach. To engage consumers across all generations, there needs to be focus on trust and transparency, which means delivering a strong and detailed product experience that makes it easy for consumers to make informed decisions. Increasingly, it also means optimizing product information and details to accurately inform AI-based shopping tools and behaviors.
