Generative AI has pushed into nearly every corner of the B2B tech landscape, forever transforming ecommerce and the buyer’s journey. However, trusting generative AI on ecommerce sites comes with risks. Consider these preparation steps needed to bring generative AI into ecommerce, in order to deliver a competitive advantage and ensure ideal customer-buying experiences.
The Biden administration has secured voluntary commitments from executives at seven technology companies that they would take steps to ensure safe development and deployment of generative AI systems, in response to various concerns that have been raised since ChatGPT’s release last fall. The commitments include calls for security testing and watermarking content produced by AI.
Even as more retailers are increasing thresholds for free returns shipping in the face of massive volume and steadily rising costs, 79% of consumers said they’d be more likely to make a repeat purchase from those offering free returns or exchanges, according to a new survey from solution provider Loop. 75% said they expect retailers to make new product suggestions based on their purchase.
Bold Commerce, provider of a headless, composable commerce checkout solution, has a new offering that lets brands and retailers enable checkout directly from a video or email without the intermediate step of visiting a product page, where cart abandonment can happen. The so-called accelerator uses API calls to integrate a checkout link directly into any shopper engagement.
Online prices fell 2.6% in June compared to a year ago, the largest drop since May 2020 and slightly more than in May, according to the latest Adobe Digital Price Index, as overall inflation has moderated but the cost of consumer goods is still far above pre-pandemic levels. The largest year-over-year price drops were in consumer electronics (-12.9%), computers, (-16.9%) and appliances (-8.3%).
Simply having a digital storefront isn’t enough anymore. Retailers need a strategy that addresses not only the customer journey but also the technical stack that supports their online commerce promotions. The growing trend of composable commerce illustrates the move away from the monolith of a single platform for a retailer’s storefront. Learn what it is, why it matters and when it makes sense for you.
While it’s been widely reported that Federal Trade Commission head Lina Kahn is planning to drop a massive antitrust lawsuit against Amazon, analysts at Baird argue in a research note that the move would be wrong-headed because the company’s success is based on innovation and investment, not monopolistic practices. The FTC has already accused Amazon of duping millions into signing up for Prime.
Before brands can invite consumers to create magic like generative AI-based campaigns from icons like Coca Cola and Google, brands need an effective, flexible system that supports the experiences, such as a composable architecture, not a monolithic, legacy platform.
Sustainable ecommerce has moved from being a checkbox approach to a competitive differentiator driving global growth. In today’s economic landscape, most retail and ecommerce companies realize that sustainable practices are not only the right thing to do but essential to their success. But it needs to go beyond the bottom line.
A bankruptcy court judge on Tuesday approved the sale of Bed Bath & Beyond’s name, intellectual property and ecommerce platform to Overstock.com for $21.5 million, and the company is winding down its store assets in various lease agreements. A separate auction is being held today for the company’s buybuy Baby assets, with interested parties including Go Global Retail and Sixth Street Partners.