AI continues as a trending topic! Amazon's newest feature, impacts of AI in e-commerce results, and the top ways to leverage AI in your strategies, all covered this week.........................................
It's time for another newsletter to help you elevate your e-commerce knowledge! Whether you want the latest news or insider tips, we have you covered. Here are this week's highlights:
Amazon's development of AI, making product listings easier than ever before.
The soaring impacts e-commerce has had on the global air cargo industry, and what this means for the future of shipping logistics.
The newest report on AI in the financial sector, and the key pieces that made all this growth possible.
The 7 tips you need to know about leveraging AI in your e-commerce efforts, from automated chatbots to fraud detection.
The Amazon Corner
Product Listings Made Easy:Amazon’s Newest AI
Amazon’s AI tools are here and ready to take over. What was already a simplified task thanks to Amazon’s AI tools- has just gotten easier. Instead of having to prompt AI with product descriptions, Amazon has taken it up another level and now only requires a single link to the product from your DTC store.
This could potentially save hours for sellers, especially those with large product ranges. However, as of the date of the announcement, this feature was not available- so be sure to keep your eyes peeled for this new advancement!
The e-commerce industry is thriving, as the volume of parcels shipped is expected to soar significantly. By 2027, e-commerce is projected to make up 30% of total global air cargo. This growth trend highlights the need for operations to be ready to handle the increasing parcel volumes.
But that's not all, the rise of e-commerce is having a huge impact on the global logistics market as well. The industry is projected to reach $2.4 trillion in annual sales by 2032, a significant increase from $386 billion in 2022. The popularity of online shopping and the need for fast and reliable delivery options account for much of this growth.
AI’s “Two Cents”: How it’s Transforming the World of Payments
AI is transforming the global payments industry- that is, according to the "AI in Payment and Financial Services 2024" report. With projections indicating the GenAI market will exceed EUR 55 billion by 2031, it is no surprise that major trends like intelligent applications, AI-augmented development, and TRiSM are driving advancements in operations, customer satisfaction, cost reduction, and risk management.
This is evident in the increasing AI investments by banks, with over 90% of global payment professionals leveraging AI and machine learning for enhanced fraud detection. However, concerns persist about transparency in decision-making processes.
7 Game-Changing Strategies To Leverage AI in E-commerce
AI has transformed the way businesses operate. To stay ahead of the competition, companies are now turning to artificial intelligence (AI) to enhance their online presence and improve customer experience. In this article, we’ll highlight 7 effective ways AI can be used in e-commerce, including personalized recommendations, chatbots for customer service, and fraud detection.
Try this. Use live shopping. This permits customers to shop for items that are being presented on screen and can help connect customers with merchants from all around the world.
FUN FACT
There are over 26 million e-commerce stores on the web!
LISTEN UP
While inventory management isn’t the first thing that comes to mind when people think of e-commerce, it’s an essential component of any profitable e-commerce store. On this 125th episode of the E-Comm Show, Andrew Maff interviews Pauline Shiu, VP of Marketing with Finale Inventory. Finale Inventory empowers e-commerce sellers to manage their inventory efficiency, allowing e-commerce stores to scale with no fuss.
In this episode, Pauline Shiu discusses how to effectively manage e-commerce inventory and the areas most sellers overlook- but are critical to their success. From diving into the biggest problem sellers have with their inventory to sharing the top factors to look out for when choosing an IMS partner, Pauline lets us in on all the insider tips you don’t want to miss.
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