Impact of artificial intelligence based chatbot on consumer's purchase decision

Abstract

The objective of our research is to understand how the chatbot impacts consumer decision and the company. We aim to study the impact of chatbot leads on customer buying experience and accordingly sales for the company. We also aim to investigate if chatbot usefulness in Consumer Durables, FMCG and healthcare industries. This is done by extending the study to compare the hypothesis framed. A questionnaire was developed to understand the customer behaviour while shopping with chatbot assistance. A questionnaire was formed to test the customers' interest in using the chatbot while shopping based on the demography, psychography, experience, knowledge, and understanding of chatbot functionality. We have used Qualtrics to collect the data, and SPSS helped analyze the data obtained from the survey. We conducted secondary research to deeply understand the customer's intentions, industries where a chatbot could be useful, and business that is generated because of chatbots. We studied how chatbot adds to customer services in the purchase journey. We also studied the challenges that come along while using a chatbot feature. Based on our study, the data we obtained, the insights we got post analysis, and the primary and secondary research, we concluded that chatbot is indeed useful to influence purchase decisions and its importance varies in different industries.