🧠 ARTicles

"Exclusive Insights for Consumer Brands"

Author

Channel Talk
February 29, 2024

ARTicles

Since the GenAI boom began, we’ve spoken to numerous companies about how this game-changing technology was a gift they never knew they needed, but now they can’t see a competitive future without it. The AI assistant is one of the primary use cases for GenAI. In many ways, the chatbot, already a well-established AI-powered innovation, was built for the capabilities that GenAI enabled.

One of the things that can make a huge difference in a small company's long-term survivability is how successfully it can build its brand.

To evaluate inclusions for this list of profitable e-commerce business ideas for 2024, we looked for ones that tap into consumers’ passions and meet unique needs and, so, help our readers enter profitable markets. The e-commerce business ideas that met this criterion include toys, thrifted goods, handmade pet treats, dessert boxes, cosmetics and home decor in addition to educational platforms, specialty foods, eco-friendly baby products, resold fashion, plants and ideology-based products.

As eCommerce merchants explore ways for artificial intelligence (AI) to drive conversion and efficiency, eBay is looking to the technology to boost high-ticket auto parts sales and to grow its reach in social commerce. The marketplace shared in its fourth quarter and full year 2023 results, reported Tuesday (Feb. 27), that its global rollout of eBay Motors’ predictive maintenance AI-powered feature in the quarter is helping to drive relevance for auto customers.

As consumers re-engage with physical retail globally, BoF hosted a thought-leadership panel to discuss best-in-class strategies for SMEs innovating their retail ecosystems to drive performance and build their brand, from consumer behaviour insights and events strategies to technological integration and omnichannel engagement.

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Spotlight on Brands

Dok Kwon, a former finance professional who swapped spreadsheets for spices, is now steering Cupbop's ship, pushing it from a local favorite in Utah to a name known across states.

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Food for Thought

E-commerce is a continually growing industry. In fact, Statista researchers have predicted that the global e-commerce market will climb to nearly $7 trillion by the end of 2024. With recent innovations such as shopping features incorporated into social media platforms and the gamification of online shopping, there are more ways to sell or shop online than ever before.

In the past, e-commerce companies enabled direct-to-consumer sales by creating online storefronts where customers could browse, purchase and receive products directly from the seller, cutting out intermediaries such as retail stores. Today, artificial intelligence is transforming the e-commerce landscape by helping businesses personalize recommendations, handle customer service, optimize pricing strategies and much more.

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Perks

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