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For retailers looking to drive e-commerce growth, the promise of generative AI (GenAI) is undeniable. According to the State of AI x Commerce Report, a study Bloomreach and others did in partnership with Future Commerce, 64% of commerce leaders agree that AI can boost customer experiences and provide a distinct competitive edge.
Here, Mr. Macken provides a totally personalized customer experience, offering an in-the-moment discount and free product (the bone!) based on what he knows both about the customer, as well as her current context (cold weather and the dog!).
E-commerce is playing a larger and increasingly important role in business strategies across sectors. In fact, direct-to-consumer (DTC) sales are expected to reach nearly $200 billion by 2024. And in recent years, more brandsāboth established and digitally nativeāare getting their cut of the growing pie.
āTrust, in the digital age,ā Doriel Abrahams, head of risk in the U.S. at Forter, told PYMNTS, āis a lot different than it used to be.ā
With the anonymity that comes with digital transactions, where there may be no such familiarity in the mix, and a customer may appear sporadically (or maybe even once), trust is a critical component for merchants. This is also true for consumers, as they visit websites and must trust merchants to keep their data, and their payments, safe.
Building on our suite of marketing and ad solutions for retailers, Klarnaās Creator Shops and Ads Manager continue to transform the company beyond BNPL into a growth partner and retail media network within the industry,ā said David Sandstrom, Klarnaās marketing chief.
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Spotlight on Brands
Growing up, my family, especially on my mother's side, was deeply involved in the leather shoe business. My father, too, joined the trade. This early exposure was like being in a doctor's family, where you naturally learn about medicine. I was constantly around discussions on dealing with suppliers and the intricacies of leatherwork. This environment laid the foundation for my understanding of the industry.
Brad Jeffery's transformative travels through Africa and South Asia ignited a passion that led to the creation of MADE FREEĀ®, a U.S.-based social enterprise in the apparel and accessories industry. Alongside his wife Katherine, who shared his deep commitment to social change, they established a brand that transcends traditional fashion norms. MADE FREEĀ® stands as a testament to the power of dignified work, aiming to combat the root causes of slavery, human trafficking, and poverty.
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Food for Thought
The Amazon Ads unBoxed conference, which was held in October 2023, is an annual opportunity for e-commerce companiesāand those that support them, like usāto learn what new features the online juggernaut is rolling out. This year, Amazon has made some exciting announcements that could change the landscape for all kinds of brands, especially smaller sellers.
A range of emerging digital media platforms and experiences- including retail media, social commerce, and livestreaming events- are making it easier for marketers to move customers deeper into the revenue cycle. These advanced media ā fueled by AI innovation ā move customers through the buying process faster, with fewer steps and greater visibility to generate more measurable revenue and loyalty outcomes.
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