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Building emotional bonds with personalization

Baidu’s Ernie Bot Surpasses 200 Million Users

Amazon Executive Debunks Job Loss Myth

eCommerce embraces retail media

Decoding AI in B2B Ecommerce

Building emotional bonds with personalization

In today’s retail landscape, personalization stands out as a vital strategy for cultivating shopper loyalty. Beyond AI-driven promotions, consumers seek genuine emotional connections with brands.

The “Personalized Offers Are Powerful — But Too Often Off-Base” report by PYMNTS Intelligence and AWS reveals that 71% of U.S. consumers value personalized offers. Even those who haven’t received them express interest, signaling a growing demand for tailored experiences.

Millennials and Gen Z consumers, in particular, prioritize personalized offerings. However, only 44% of tailored offers are deemed relevant by consumers, indicating room for improvement.

Successful personalization extends beyond discounts; it involves crafting experiences aligned with individual preferences and values. Jeff Yurcisin, CEO of Grove Collaborative, emphasizes trust and brand affinity over pricing.

Leading companies across industries, such as Macy’s, Ulta Beauty, LG Electronics, and IKEA, recognize the importance of emotional connections in driving consumer engagement.

By addressing consumers’ emotional needs, effective personalization fosters deeper loyalty and meaningful relationships beyond the norm.

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Baidu’s Ernie Bot surpasses 200 million users

Baidu CEO Robin Li revealed at the AI Create Conference in Shenzhen that the company’s Ernie bot, similar to ChatGPT, has now amassed over 200 million users. Li also announced plans for another round of the AI development competition, with a hefty 50 million yuan ($7 million) prize.

During his keynote titled “Everyone is a Developer,” Li showcased groundbreaking tools like AgentBuilder and AppBuilder, enabling seamless integration of AI-driven chatbots into Baidu’s ecosystem.

Baidu’s Ernie bot, operational for over a year and recently approved for public use in China, handles a staggering 50 million queries daily, serving over 26,000 businesses monthly. Li foresees substantial AI revenue contributions by 2024.

Despite challenges posed by U.S. export controls on high-end semiconductors, Baidu remains resilient, fortified by its AI chip reserve. Analysts predict China’s AI market to surpass $26 billion by 2026, signaling the country’s rise in AI applications.

Amazon executive debunks job loss myth

Stefano La Rovere, Amazon’s director of global robotics, challenged the misconception that technology displaces jobs in an interview with CNBC. He emphasized that rather than replacing positions, advanced robotics and AI enhance human roles and foster the creation of new job categories.

La Rovere highlighted Amazon’s investment in technology, with over 1,000 innovations implemented across its European fulfillment network, amounting to a €700 million ($751 million) investment. He pointed out that these advancements have actually improved over 50,000 jobs in Amazon’s European fulfillment centers.

By automating repetitive tasks and heavy lifting, technology reduces physical strain on employees while offering opportunities for skill development and career progression.

La Rovere noted that Amazon’s focus on automation has led to the creation of over 700 new job categories in recent years, including his team responsible for advancing robotics and AI solutions within the fulfillment network.

eCommerce embraces retail media

As digital ad effectiveness wanes, eCommerce ventures are turning to retail media networks for fresh revenue streams. Wolt, a global delivery aggregator, recently launched its ad service, reflecting industry shifts.

Catalina Salazar, Wolt Ads’ global head, notes the rising importance of retail media in budget decisions, with funds moving from tech giants to boost returns.

Partner brands’ swift adoption impresses Salazar, seeing it as a revenue booster amid high costs. eCommerce firms diversify, from white-label offerings to expanding categories, leveraging vast networks.

Beyond eCommerce, banks and others enter the retail media realm to monetize data. Consumers welcome personalized offers, signaling potential for engagement and loyalty.

Salazar stresses balance, melding metrics with branding for lasting connections. She sees data collaboration as vital, enabling smarter strategies based on combined insights.

Future Focus: Collaborative data-driven strategies promise deeper engagement and loyalty in the retail media space.

Decoding AI in B2B eCommerce

As the buzz around artificial intelligence (AI) in B2B ecommerce reaches a crescendo, discerning the truth from the hype becomes imperative. Fortunately, the freshly minted 2024 Ecommerce in Manufacturing and Distribution Report from Digital Commerce 360 offers valuable insights into this burgeoning landscape.

The journey from hype to reality in emerging business technologies is a familiar narrative. Just as early promises of seamless connectivity in ecommerce faced hurdles before maturing, AI too encounters its share of challenges. While pioneers in the realm of B2B ecommerce have long utilized AI, particularly in predictive analytics for personalized recommendations, the recent surge in generative AI has catapulted the technology into the mainstream consciousness.

Experts foresee AI’s trajectory evolving beyond mere hype as businesses increasingly harness its power for automation and enhanced customer experiences. However, the rapid pace of GenAI adoption sets it apart, hinting at unprecedented growth potential.

Navigating this transformative landscape requires a deep dive into the 2024 Ecommerce in Manufacturing and Distribution Report, offering comprehensive data and analysis on AI’s profound impact on digital B2B commerce.

Signing off,

The Merchant @CartHustle