WBR Insights - eCommerce’s Post

🚀 Get your week off to the best start with some Exciting revelations from the eTail Europe 2024 Playbook as we shed light on key strategies shaping the future of the eCommerce industry. Here are some standout findings: 🍪🍪 AI Ate and Left No Crumbs The Generative AI boom of 2023 could not have come at a better time for retail brands, with the impending removal of third-party cookies set to leave brands with a data hole to fill. Third-party cookies have long been crucial to the industry's personalisation efforts. However, our research suggests AI solutions such as chatbots will be used to obtain more first-party data with their removal. The conversational service that chatbots offer allows consumers to interact with retailers using AI-generated dialogue. By doing so, consumers are providing the AI with great amounts of data for retailers to use, which is helping to drive engagement and fill the hole left behind by third-party cookies. 🌠🌠 Look after your customers, and they will look after you Consumers now expect brands to offer some type of value exchange in return for their business. Therefore, more and more retailers are releasing their own loyalty programme to increase engagement and encourage loyalty. With so many options out there, retailers must ensure the type of programme they offer provides consumers with true value. According to our research, 48% of respondents offer a points/reward programme. For many retailers this will work, with consumers purchasing often enough for points to accrue regularly. For retailers where consumers purchase irregularly, one-off rewards such as cashback may be more suitable. 🤖🤖 AI'll be there for you Our research indicates that many in the industry are struggling with data management, and obtaining the necessary insights for those who need it. A theme that is emerging across many industries is artificial intelligence. A massive 92% of respondents to our survey are investing in AI technologies to improve merchandising efficiency and provide essential data intelligence to e-commerce teams. From workflow enhancements and process automation, to fraud protection and demand prediction, the value of AI cannot be overstated. Undoubtedly, AI will be a key focus for the industry in 2024 and beyond. The research in this report has built a roadmap for your year ahead in eCommerce to strive towards your goals! Be a part of the journey… Download your FREE copy here 👇 https://lnkd.in/eqzNmmZq #eCommerce #eCommerceInsights #Insights

🚀 Get your week off to the best start with some Exciting revelations from the eTail Europe 2024 Playbook as we shed light on key strategies shaping the future of the eCommerce industry. Be a part of the journey… Download your FREE copy here 👉 https://lnkd.in/eqzNmmZq Here are some standout findings:   🍪🍪 AI Ate and Left No Crumbs   The Generative AI boom of 2023 could not have come at a better time for retail brands, with the impending removal of third-party cookies set to leave brands with a data hole to fill. Third-party cookies have long been crucial to the industry's personalisation efforts. However, our research suggests AI solutions such as chatbots will be used to obtain more first-party data with their removal.   The conversational service that chatbots offer allows consumers to interact with retailers using AI-generated dialogue. By doing so, consumers are providing the AI with great amounts of data for retailers to use, which is helping to drive engagement and fill the hole left behind by third-party cookies.   🌠🌠 Look after your customers, and they will look after you   Consumers now expect brands to offer some type of value exchange in return for their business. Therefore, more and more retailers are releasing their own loyalty programme to increase engagement and encourage loyalty. With so many options out there, retailers must ensure the type of programme they offer provides consumers with true value.    According to our research, 48% of respondents offer a points/reward programme. For many retailers this will work, with consumers purchasing often enough for points to accrue regularly. For retailers where consumers purchase irregularly, one-off rewards such as cashback may be more suitable.   🤖🤖 AI'll be there for you   Our research indicates that many in the industry are struggling with data management, and obtaining the necessary insights for those who need it. A theme that is emerging across many industries is artificial intelligence.   A massive 92% of respondents to our survey are investing in AI technologies to improve merchandising efficiency and provide essential data intelligence to e-commerce teams. From workflow enhancements and process automation, to fraud protection and demand prediction, the value of AI cannot be overstated. Undoubtedly, AI will be a key focus for the industry in 2024 and beyond.   The research in this report has built a roadmap for your year ahead in eCommerce to strive towards your goals!   #eCommerce #eCommerceInsights #Insights

The eCommerce AI industry is projected to soar to $45.72 billion by 2032. That's a lot of Bs. At Rep, our focus is to give shoppers the attention they want and deserve to move them to the next stage of their shopping journey—and, by the way, it's working. Here’s a tiny glimpse of what we've achieved at Rep: —> Over 1.2 million conversations had with shoppers —> Over 12.8 million products sold in 2023 alone. We expect that number to triple, even quadruple in 2024. —> In 2023, we introduced 773,000 *new* shoppers to a merchant's branded AI Concierge—these shoppers ranged anywhere between their 20s and 80s👵 —> Rep handled over 1.3 million shopper queries and reduced redundant support tickets for merchants (the operational efficiencies I alluded to earlier) Expect more insights from our extensive pool of conversations data, coming soon. I believe #eCommerceAI is just beginning to show its potential.

E-commerce companies without AI should listen up! The next 10 years could determine your success… Examining a decade of data reveals an amazing pattern: The AI market in e-commerce isn't just growing; it's set to more than triple by 2032! This shows how AI is improving online retail by improving consumer satisfaction, personalization, and efficiency. For those of us steering through the digital marketplace, this is a call to action. Are you prepared to join this amazing age? 𝘪𝘮𝘢𝘨𝘦 𝘴𝘰𝘶𝘳𝘤𝘦: 𝘱𝘳𝘦𝘤𝘦𝘥𝘦𝘯𝘤𝘦𝘳𝘦𝘴𝘦𝘢𝘳𝘤𝘩.𝘤𝘰𝘮 --- ♻️ "REPOST" if you like this! --- #StuTek #StuTekAI #aiinecommerce #artificialintelligence

💡If you missed the panel discussion on E-Commerce Trends of 2025 I got to be a part of together with Philipp Andrée from Douglas, Livia von Mitschke-Collande from Google and Artjem Weissbeck from Kapten & Son moderated by E-Com expert Ian Jindal at this year's DMEXCO - Digital Marketing Expo & Conference: worry not! 🚀 Katja Laska has curated the most important points in her iXtenso - retail trends article, covering the discussed "new challenges and opportunities arising from the use of AI, the rise of social commerce and the trend towards unified commerce. The focus was on the needs of customers: shopping should be possible anywhere and at any time, simple and personalized". For the full article, see the link in the first comment below ⬇️ #ecommercetrends #futureofretail #unifiedcommerce #retaileverywhere #dmexco2024 #trends #makecommercebetterforeveryone #commerce #socialcommerce #ai #shopifyDACH #innovation

📰 News: 📰 --- The Future of E-Commerce: Trends and Predictions 🌟🛍 Hey, e-commerce trailblazers! Ready to dive into the game-changing trends of our ever-evolving industry? If you're yearning to stay ahead of the pack, then buckle up – we've got vital insights here that'll fuel your innovative spirit. As tech continues to gallop forward, --Customer-Centric-- approaches powered by data and artificial intelligence are your golden ticket to not just survive, but thrive. Imagine cutting down abandoned carts and boosting your average purchase ticket – sounds dreamy, right? 🌈 Let’s sprinkle some data on this: 🛒 --Reduce Abandonment Rates--: Companies focusing on the customer reduce cart abandonment by up to 35%. 📈 --Boost Sales--: AI and personalized experiences can increase your sales by 20%. 💬 --Customer Engagement--: 70% of customers are likely to purchase more if they experience personalized interactions. 💡 --Efficiency--: Real-time data analysis improves decision-making speed by 40%. 💸 --Revenue--: Integrating AI boosts revenue by 30%. Ready to chat about the future of e-commerce or just excited to implement these trends in your business? Drop a comment below and let's get the conversation going! 🚀 Don’t forget to follow AnniQ for more insights and updates on leading your e-commerce biz into the future. #Retail #Ecommerce #Commerce #Business #AIDriven #Digital #AI #Strategy #Innovation #ArtificialIntelligence #AnniQ https://lnkd.in/eMznpVRZ

In 2024, the retail landscape is set to be transformed by key trends, embracing the power of AI, pushing the boundaries of in-store experiences, the rise of 'recommerce,' and the emergence of retail media networks (RMNs). Here's a breakdown of these game-changing trends: 1️⃣ AI Revolution: AI in retail, encompassing machine learning, chatbots, swarm intelligence, and more, is projected to reach $24.1 billion by 2028. Anticipated to have a profound impact in 2024, AI will elevate personalization, creating seamless customer journeys and enhancing the overall brand experience. 2️⃣ Elevating In-Store Experiences: Recognizing the rarity of customer loyalty, retailers aim to maximize the impact of their brand experience across all channels in 2024. The focus on new in-store technologies, such as self-service checkouts, will be expanded to enhance customer experiences. 3️⃣ The 'Recommerce' Revolution: In 2024, recommerce is set to become a profit driver rather than just a sustainability initiative. Retailers will strategically incorporate recommerce into long-term plans, recognizing its potential for both profit and sustainability. 4️⃣ Retail Media Networks (RMNs): Retailers with robust loyalty programs and high-volume traffic are leveraging first-party data to offer advertising opportunities to brands through RMNs. 2024 presents an opportunity to shift focus to retail media profitability, enhancing customer lifetime value. Despite economic challenges, retailers embracing innovation and new technology in 2024, while exploring revenue-boosting strategies, are poised to navigate short-term turbulence and emerge stronger on the other side. Agility and ambition will be key to meeting evolving consumer expectations in this dynamic retail landscape. 🚀🛍️ https://lnkd.in/dcgMH9i9 #RetailTrends #2024Trends #HappyNewYear #TechTrends #AI #ClickAndCollect #StoreExperience #RetailExperience #RetailTech #Trends

📰 News: 📰 🚀 Embrace the Future of E-commerce: Be Customer-Centric 🛒✨ Hey there, e-commerce visionaries! 📊 Are you ready to revolutionize your business and create unforgettable customer experiences? The key lies in being customer-centric, powered by data and AI. According to recent studies, putting your customers at the heart of your business strategy can significantly boost your bottom line. 💡 Did you know? - Companies leveraging AI for personalized experiences see a 20% boost in sales. - Customer-centric businesses report a 77% increase in customer retention. - E-commerce giants utilizing data analytics witness a 30% reduction in cart abandonment. By prioritizing your customers' needs and utilizing advanced technologies, you can reduce abandonment sessions and increase your average purchase ticket. Imagine the impact on your business if every single interaction left your customers delighted and eager to return. Curious to learn more? Dive deeper into the world of customer-centric e-commerce and harness the power of data and AI to elevate your business. Let's share insights and ideas! Comment below and join the conversation. 💬 Also, don’t forget to follow AnniQ for more tips and trends! 🚀👉 -Follow Link- -Ecommerce -CustomerExperience -AI -DataAnalytics -AnniQ #Retail #Ecommerce #Commerce #Business #AIDriven #Digital #AI #Strategy #Innovation #ArtificialIntelligence #AnniQ https://lnkd.in/eFvFvwp5

📰 News: 📰 🚀 Unlock the Power of Customer-Centric E-Commerce with Data and AI! 🔍 In the ever-evolving world of e-commerce, being Customer-Centric isn’t just a strategy; it’s a necessity. With a keen focus on data and artificial intelligence, businesses can elevate customer experiences, reduce abandonment rates, and boost purchase tickets. 💥 Imagine harnessing data to understand your customer’s journey, preferences, and pain points. Companies leveraging AI saw a --30% reduction in cart abandonment--, while those focusing on personalized experiences noted a --20% increase in average purchase value--. Here are some game-changing metrics: 📈 82% of e-commerce businesses leveraging AI for customer insights saw their revenue increase by over 10%. 💡 Personalized shopping experiences can drive customer engagement up by 77%. 🛒 Businesses adopting a Customer-Centric approach witness a --98% improvement in customer retention--. Are you ready to transform your e-commerce game? Dive into the world of Customer-Centric strategies and see how data and AI can revolutionize your business. 👇 Join the conversation! Comment below and share your thoughts on becoming customer-centric. Don't forget to follow AnniQ for more insights and tips on thriving in the world of e-commerce. #Retail #Ecommerce #Commerce #Business #AIDriven #Digital #AI #Strategy #Innovation #ArtificialIntelligence #AnniQ https://lnkd.in/efZm2eNx

Role of AI in E-Commerce: Driving Growth, Enhancing Experiences, and Boosting Results In today’s fast-paced digital world, e-commerce businesses must adapt to stay competitive, and AI is playing a pivotal role in this transformation. From streamlining operations to enhancing customer experiences, AI is reshaping how companies scale, make decisions, and engage consumers. AI helps e-commerce businesses optimize processes like inventory management and demand forecasting, leading to a 20-30% increase in operational efficiency, according to McKinsey. AI-driven analytics offer deeper insights into consumer behavior, enabling data-backed decisions for better forecasting and pricing. Customer experience is another critical area where AI excels. AI-powered recommendation engines, like Amazon’s, account for 35% of the company’s revenue. Personalization has become a must, with a Salesforce study revealing that 52% of consumers are likely to switch brands if they don’t receive personalized communication. AI-driven chatbots and tools ensure real-time support and tailored experiences, boosting engagement and customer loyalty. AI’s predictive analytics provide e-commerce businesses with actionable insights, driving improvements in marketing, customer targeting, and overall ROI, with some companies reporting 15-20% gains. AI is also crucial in fraud detection, potentially saving businesses over $11 billion annually by 2025, according to Juniper Research. With the AI retail market set to reach $24 billion by 2027, e-commerce companies that leverage AI will be better positioned to meet customer expectations, reduce risks, and unlock new opportunities for growth. Embracing AI is no longer optional; it’s essential for thriving in the competitive e-commerce landscape. #EcommerceInnovation #AIinRetail #DigitalTransformation #SmartShopping #FutureOfEcommerce #CustomerExperience #AIForBusiness #EcommerceGrowth #OnlineShopping #RetailTech #DataDrivenBusiness #PersonalizedShopping #AIandEcommerce #ShopSmart #BusinessEfficiency