Consumers suffering from ‘analysis paralysis’, Accenture study finds
As a result 60% are open to using gen AI advisors to help them find and book a stay and 65% are open to using gen AI agents that can take on a more proactive role in managing their trip.
‘Analysis paralysis’ is one of the top challenges impacting consumer decision-making for hotels and resorts, according to Accenture’s 2024 Consumer Pulse Survey.
Its survey found that in the last three months, 73% of respondents report that they’d given up and walked away from making a hotel booking and that “choice complexity” is draining consumer confidence in their booking decisions.
Other findings included
- 70% feel that they need to check too many sources to understand the available accommodation options
- 77% of respondents wish they could identify options that would meet their needs more quickly and easily
- 79% of respondents agree price is the deciding factor when booking a hotel or resort
- 89% of consumers report a hotel or resort purchase has a significant impact on their expenses
- 71% of consumers wish it took less time to research potential purchases
According to Accenture’s research, as a result 60% are open to using gen AI advisors to help them find and book a stay and 65% are open to using gen AI agents that can take on a more proactive role in managing their trip.
Emily Weiss, senior managing director and global lead of Accenture’s Travel industry practice, said: “Planning a trip can often feel siloed, disjointed and overwhelming as consumers grapple with the huge incoming volume of content and advertising from competing travel brands and influencers. Generative AI has the potential to simplify, accelerate and enrich the travel booking experience, providing the sights, sounds and information and act as a ‘travel influencer’ elevating personalised recommendations in real time to help consumers feel more confident, informed and engaged.
“It can act as a creative partner for travel marketers across design, research, and content creation, providing more targeted and intuitive marketing so that consumers can spend more time enjoying the experience. However, as adoption of gen AI technology grows, it is important for companies to consider their competitive differentiators, as experiences could start to blend across brands.”
