According to the PYMNTS Intelligence report, Google remains the primary tool for product discovery among millennials, capturing 57% of users. ChatGPT has secured the second position with 41%, surpassing Amazon at 37% and YouTube at 29%.
Instagram and Google Gemini each account for 26% of millennial product discovery usage. The findings indicate that AI tools are increasingly competing with traditional marketplaces and social platforms during the initial stages of the consumer decision-making process.
The report highlights that product discovery now frequently occurs outside of a merchant's direct storefront. Millennials utilize a mix of AI assistants, search engines, and physical stores, with their preferred channels shifting depending on the specific items they intend to purchase.
This shift suggests that competition for transactions begins well before the checkout phase. Merchants, banks, and payment providers are now encountering consumers only after various digital services have already influenced their purchasing decisions.
The study concludes that AI-driven discovery is evolving faster than the transition to purely digital purchasing. Consequently, merchants face the challenge of integrating product information and payment options into the early stages of the customer journey.
