WBR Insights - eCommerce’s Post

It would be rude of us to survey 100 of the most senior leaders in the eCommerce industry across Europe on the challenges they expect to encounter in the coming year, and the steps they are taking to overcome them, without distilling the most important lessons from doing so into a digestible LinkedIn post. Introducing…. Our key suggestions from The 2024 eTail European Playbook! 🍪Leverage AI in the cookie-less world we find ourselves in The retail industry's heavy reliance on customer data obtained through third-party cookies will be disrupted by their removal. While this presents a challenge, AI can be the solution. AI can enhance data analysis, leading to the discovery of new customer segments and insights, and provide engaging chatbots that customers willingly interact with, revealing previously inaccessible data. 🌠Make your loyalty programmes the best they can be Customers have come to expect the brands they purchase from to offer some type of value in exchange for their custom — some type of reward. This is now coming for many in the form of a loyalty programme. Merely offering one is not enough though. Optimising your loyalty programme to meet the needs of your customer is as important to its success as having one in the first place. 🚀Make your customers come for the product, but stay for the experience Being competitive on price alone is no longer enough. Retailers must strive for loyalty. Offering a great product or service remains essential but is only half the battle. Creating an omnichannel, comprehensive experience that customers cannot find anywhere else will ensure they keep coming back. 👉 Get your eCommerce guide to the year ahead by downloading your free copy of the Playbook here. https://lnkd.in/eqzNmmZq #eCommerce #eCommerceInsights #WBRInsights

66% of consumers remain loyal and frequently purchase from a brand due to personalised, frequent, and relevant communication. "Using data and personalisation, Emarsys enables us to keep our customers at the heart of everything we do, powering vital lifecycle and loyalty campaigns that drive conversions, retention, and relevancy." Catriona Woodward at Pizza Hut. To achieve this, Emarsys has released a new guide that reveals the foundational pillars, as well as the strategies top brands are using to maximise their MarTech investment, build lasting relationships with their customers, and drive business growth. You'll discover tips on how to: 💡 Maximise your customer engagement data so you can build trust and support your goals 💡 Connect your commerce channels so customers enjoy consistent brand experiences wherever and whenever they engage 💡 Recognise the differences between disjointed channel experiences and seamless, personalised customer journeys 💡 Become more relevant and timely with your messages, so you can drive loyalty and greater LTV 💡 Apply AI to execute true personalisation at scale and around the world 💡 Use reporting and analytics to refine your personalisation strategy and predict what your customers will want next Check it out: https://lnkd.in/evCc9d_D #OmnichannelMarketing #AI #7Pillars

While attending the The Lead Summit in NYC, I had the opportunity to connect with many insightful industry leaders and had some great conversations with technology providers on current thinking on technology in a digital/omnichannel world and the opportunity for both brands and retailers. *Growing Retail Marketplaces to Drive Profitable Growth* Logicbroker Patrick Niersbach "It’s important that retailers continue to focus on growing their online assortments and marketplaces to drive profitable growth. With our platform you are able to harness this profitability and achieve better data integrity." #marketplaces *Sustainability* David Polinchock "80% of landfill is old clothing and today’s younger generation wants more sustainable and circular solutions. The sneaker brand On Cloud has a great sneaking leasing solution around this." #sustainability United Brand Experience *Watch what happens in apparel – learnings for FMCG Retail* Bryan Gildenberg Confluencer Commerce "With purchase rate and shopper journeys for both retail categories quite different watch for enhanced AI solutions within the apparel industry around hyper personalization and precise logistics applications" #ArtificalIntelligence *Shopper Journey Optimization* Ethan Chernofsky Placer.ai “2024 is the beginning of the omni-channel promise” technology has arrived to enable customer and shopper satisfaction" #pathtopurchase *Harnessing Fandom* Jonathan Sandak Peacock Targeted reach at scale to your biggest fans is a better way to harness business results. #Media *Making Sense of Physical Store Traffic* Jennifer Peters OLLY PBC The data and metrics from online activity needs to be better aligned with the metrics available from the data garnered from in-store traffic, behavior and dwell times. #data #storetraffic *Shopping Routines and Loyalty* Christy Ottesen Recharge Establishing purchasing routines and understanding shopper behavior for digital and emerging brands is a great way to grow recurring revenue and enhanced customer relationships. Brand subscriptions drive traffic, loyalty and enhance product usage. #subscription *In-store Shopper Journeys* Amit Kumar Dragonfruit AI "While much of the conversation is focused on Generative AI and the creative process or personalization for ecommerce, there is a growing recognition that the security camera systems in physical retail are an opportunity waiting to happen for merchants and operators. The ability to see actual customer journeys at scale is a nascent opportunity that will revolutionize the competitive space of retail and we are just getting started there." #Computervision #RethinkRetail

Read more to learn insightful findings from the KPMG and GS1 study "Navigating the Future of Seamless Commerce in Asia Pacific. It highlights several key trends that are gaining traction and are expected to accelerate in the mid-2020s.

Recently BearingPoint participated in the National Retail Federation (NRF) conference, acquiring invaluable insights into emerging retail trends. The retail landscape is experiencing a significant transition from E-commerce to C-commerce, highlighting the importance of seamless technology integration and collaboration. Key trends propelling this shift include generative AI, customer-centric in-store innovations, and evolving digital experiences. These trends are reshaping how retailers engage with customers and manage their businesses. #1: Generative AI – Keep up, or fall behind  Generative AI is on the brink of becoming a major disruptor in the industry, accentuating the crucial need for retailer’s ability to seamlessly integrate and adapt to evolving technologies to uphold their competitive edge.  73% of retail decision makers feel the urgency to adopt AI technologies  Of which, 72% say their organization doesn’t have the skills to successfully implement AI and ML   It took 5 days to reach 1 million users on ChatGPT (vs. 2 years on X, formerly Twitter)  80% of retailers are projected to utilize AI by 2026,  20x the expected investments by retailers in AI over the next 10 years   #2: Experiential value calls for innovation in-stores In 2023, we witnessed the highest level of investment in brick-and-mortar establishments in the past decade, accompanied by anticipated advancements in customer experience (CX).  As shoppers return to stores, greater emphasis will be placed on enhancing the customer's in-store shopping experience, necessitating cutting-edge innovations to uphold an effective omnichannel experience. >80% of retail revenue is still driven by stores, as brick and mortar remain the favored consumer channel  72% of digital shoppers prioritize an in-store shopping experience  7/10 shoppers prefer shopping in person for immediacy of experience #3: The Quiet Digital Era  The push for digitalization within stores is evolving, with consumers now prioritizing simplicity and authenticity in the seamless integration of technology into their in-store experiences. 62% of customers are not receptive to messages displayed on POS screens  90% of customers no longer associate digital devices with the pleasure of shopping #nrf2024 #bearingpointus #retailtrends Fabrice Roche Arron H. Ryan Orabone

Gen AI is rapidly changing the ecommerce landscape, and our Ecommerce Mindscape | SEA 2024 report uncovers the top trends driving success in Southeast Asia. 🌏 With 86% of shoppers abandoning carts due to subpar experiences, this report reveals how Gen AI is transforming ecommerce in Southeast Asia. Learn from leaders like PUMA, ZALORA, Pomelo Fashion, Kanmo Group etc. on how they’re leveraging AI to enhance personalization and retention. 📥 Get your copy here: https://lnkd.in/eRNjkZNd 📊 What’s inside? - The rise of Gen AI-driven strategies - Benchmarks from top SEA brands - Actionable tips for boosting personalization and retention #EcommerceMindscape2024 #FutureOfEcommerce #MarketingInnovation #AIinMarketing #MarketingBenchmarks Netcore Cloud Anand Shashankh Paolo Jeet Abhishek Arete Balakumaran Chloe Deependra Erwin Fernando Gericho Kenric Vy Milarose Meet Pham Mrunal Sakshi Shubael Stallon Trishala Vinayak Siddhesh Anit Vedant Monu Charishma Kanika Rahul Gaurav Riccha Pratik Kalpit Bhavana Abithab Saket Sreejith Avadhoot

2024 RETAIL TRENDS: CAN GENAI DELIVER ON THE CUSTOMER PROMIISE? Forbes by Susan Galer: One year after every industry dove headfirst into GenAI hype, retail market gurus have surfaced with a boatload of tech-related ways that retailers will deploy to cut through market volatility and competitive threats, delivering intelligence that powers personalized customer experiences and solid business results. This is a quick round-up of the latest retail industry trends and predictions that revolve around increasingly intelligent merchandising, digital commerce, personalized marketing, and supply chain. resilience. 🦍 Retail leaders showcase innovation at NRF Last year ended with strong retail sales. CNN said Americans spent a record-setting $222 billion this past holiday season. The National Retail Federation (NRF) reported that a record 200.4 million consumers shopped over the five-day holiday weekend from Thanksgiving Day through Cyber Monday. SAP was among the many innovators rubbing shoulders with the world’s most influential brands at NRF’s flagship tradeshow in New York City this week. “In a market where customers have so many choices, retailers are turning to advanced technologies like GenAI to anticipate consumer needs and deliver profitably on the company promise every single time,” said Jorge Koesters, global head of retail marketing at SAP. “We have embedded Business AI capabilities directly into our portfolio, combining that with SAP’s industry expertise to provide retailers with a new kind of intelligence for growth that is built on the bedrock of enterprise data. Retailers can unlock the power of data and insights to make better decisions about demand planning, store replenishment, and order management that build customer trust and loyalty as well as business profits.” 🦗 Understanding the GenAI competitive edge In one Gartner webinar, researchers explained what makes GenAI so powerful for any industry. They said that the technology “enables a probabilistic capability to identify a next word or phrase that is more likely to accurately represent customer intent.” They identified four focus areas for the retail industry’s use of AI: marketing and digital commerce, customer experience, operations/supply chain, and merchandising/planning. explore more: https://lnkd.in/grc5cnNs #ai #genai #nft #metaverse #web3

What's happening in retail these days? Based on conferences we’ve attended and conversations we’ve had, retailers are remaining focused on roadmaps centered around enhancing their omnichannel presence and customer experience despite lingering economic uncertainties due to inflation. In this #CAPRAplus article, our industry experts discuss some of the top trends to watch in retail technology, innovation, and more. https://lnkd.in/d-YeMr8T #retailtechnology #retailtrends #ai #retailinnovation #retailindustry

Introducing the ultimate Gen AI playbook to win ecommerce customers - 𝐄𝐜𝐨𝐦𝐦𝐞𝐫𝐜𝐞 𝐌𝐢𝐧𝐝𝐬𝐜𝐚𝐩𝐞 | 𝐒𝐄𝐀 2024 Did you know that 86% 𝐬𝐡𝐨𝐩𝐩𝐞𝐫𝐬 𝐚𝐛𝐚𝐧𝐝𝐨𝐧 𝐜𝐚𝐫𝐭𝐬 if they experience subpar shopping journeys? This is why Gen AI is the game-changer for D2C brands and marketplaces in Southeast Asia. From hyper-personalization to real-time optimization, Gen AI drives ecommerce success by enhancing the customer experience at every step. Featuring insights from PUMA Group, ZALORA Group, Pomelo Fashion, Kanmo Group, and Senheng Electric (KL) Sdn Bhd, this report uncovers how top brands are using Gen AI to stay ahead in 2024.  📥 Get your copy here: https://lnkd.in/gbH8gvkS 📊  What’s inside? ◾ The rise of Gen AI-driven strategies ◾ Benchmarks from top SEA brands ◾ Actionable tips to boost personalization and retention Stay ahead in this fast-evolving landscape with insights that matter! Kalpit Rajesh Abithab Saket Mahesh Triton Sreejith Jeet Siddhesh Anand Anit Deependra Fernando Paolo Stallon Vinayak Milarose Vy Balakumaran Shashankh Rahul Kanika Gaurav Riccha #EcommerceMindscape2024 #FutureOfEcommerce #MarketingInnovation #AIinMarketing #MarketingBenchmarks

𝐀𝐥𝐠𝐨𝐥𝐢𝐚, 𝐉𝐃 𝐒𝐩𝐨𝐫𝐭𝐬 𝐚𝐧𝐝 𝐀𝐈 𝐒𝐞𝐚𝐫𝐜𝐡 – 𝐰𝐡𝐞𝐧 𝐜𝐨𝐮𝐥𝐝 𝐁2𝐁 𝐫𝐞𝐭𝐚𝐢𝐥𝐞𝐫𝐬 𝐭𝐚𝐤𝐞 𝐚𝐝𝐯𝐚𝐧𝐭𝐚𝐠𝐞? Check out the article here: https://lnkd.in/e_7BrnqA I remember speaking with Richard Lim just over a year ago about this and wondering when this sort of AI search application would begin to be implemented (incidentally, he predicted in the next 12 months). Of course, this was likely to happen in B2C first, especially in retail, but I wonder what timeframe B2B retailers are placing on adopting this capability. Read on for a brief summary... 𝐇𝐨𝐰 𝐝𝐨𝐞𝐬 𝐢𝐭 𝐰𝐨𝐫𝐤? 🔎 Enhanced Search Results: Algolia’s AI search will provide more accurate and relevant search results for JD Sports' customers. 🔍 Vector-Based Search: The implementation will deliver scalable vector-based search, which improves search accuracy and efficiency. 💳 Revenue Analytics: The AI search will unlock advanced revenue analytics and data insights to support JD Sports' business strategies. 𝐁𝐫𝐨𝐚𝐝𝐞𝐫 𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬: 🌐 Global Reach: By enhancing its e-commerce sites and omnichannel strategy, JD Sports aims to improve its online presence and store performance worldwide. 💶 Revenue Maximisation: The integration of advanced AI search and analytics is expected to drive revenue growth through more effective retail media networks. 🙂 Customer-Centric Focus: With a focus on delivering a superior customer experience, JD Sports is positioning itself to stay ahead in a competitive retail landscape. Algolia is partnering with B2B Online in December - I can't wait to learn more about AI search 👨🎓 ____________________________________________________________________ #B2BOnline #eCommerce #digitaltransformation