Are chatbots useful to global consumers when shopping for financial products?
April 6th, 2023, Kineree Shah

Are chatbots useful to global consumers when shopping for financial products?

Chatbots have been used by many businesses to improve their customers' online shopping experience. To evaluate its utility, YouGov conducted a survey across 18 international markets, asking consumers which products or services they think using a customer service chatbot can be useful for. Interestingly, slightly over a tenth of global consumers (12%) say chatbots are useful when buying online financial and investment products, higher than some other consumer categories such as furniture (8%), video games (10%), and out-of-home entertainment (11%).

The perception of usefulness of chatbots in online shopping for financial and investment products varies greatly between markets. In Europe, markets such as Spain and Germany had a relatively high response rate, with roughly one in 10 consumers finding chatbots useful (11% each). However, in other European countries such as Britain (7%), France (6%), Sweden (6%), and Denmark (5%) the response rate was about half.

Even in North America, the response rate was mixed. In Canada one-tenth find chatbots useful but in US the percentage drops further (7%). Meanwhile, consumers in Mexico logged a high rate, with more than one-fifth finding chatbots useful (22%).

Within Asia, consumers in India logged the highest response rate, with more than a quarter finding chatbots useful (26%), while in Indonesia and UAE one-fifth of consumers found chatbots useful (20% each). Relatively, Singapore and China had lower response rates (16% and 13% respectively).

In related news explore the usefulness of chatbots in groceries, take-out food, clothing/ shoes, cosmetics & beauty products, medicine & healthcare products, mobile phones, air travel and hotels, out-of-home entertainment, and car/ vehicles.

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Methodology: YouGov Surveys: Serviced provide quick survey results from nationally representative or targeted audiences in multiple markets. The data is based on surveys of adults aged 18+ years in 18 markets with sample sizes varying between 431 and 1,572 for each market. All surveys were conducted online in December 2022. Data from each market uses a nationally representative sample apart from Mexico and India, which use urban representative samples, and Indonesia and Hong Kong, which use online representative samples. Learn more about YouGov Surveys: Serviced.