This week in the world of retail and e-commerce, we have an interesting mix of stories. From Amazon inking a deal with Pinterest to Google removing inactive accounts and more. Here are the highlights:
Google plans to delete accounts that have been inactive for 2 years due to security concerns starting in December.
The use of AI automation in manufacturing aims to enhance visibility and flexibility.
Consumer spending in the US seems to be strong at the beginning of the second quarter.
Amazon recently announced a partnership with Pinterest which will allow users to purchase products directly from the platform.
Top Retail and E-commerce Stories
The Countdown is On: Google is Deleting Inactive Accounts
Photo Credit: REUTERS
Last chance to reclaim old memories! Google recently announced plans to delete accounts that have been inactive for two years starting in December. The move is part of a broader effort to protect user data and improve security across its platforms. This means, if you haven’t logged into your Google account in the past two years, it may be time to check in before your account is gone forever.
The company announced that if a Google account remains unused or unlogged for more than two years, the account and its content across Google Workspace (including Gmail, Docs, Drive, Meet, Calendar, YouTube, and Google Photos) may be deleted. However, keep in mind that this policy update is only relevant for personal Google Accounts, and not for accounts belonging to organizations such as schools or businesses.
AI for Manufacturing: Enhancing Visibility and Flexibility
Photo Credit: Machina Labs
The use of AI automation in manufacturing is on the rise. This technology has a number of benefits, such as enhancing visibility, flexibility, and efficiency. It also helps to improve product quality by providing data-driven insights that can be used to implement process improvements.
According to Azita Martin, VP and GM of retail AI at Nvidia, AI does not aim to replace human labor with automation but to enhance it by adding intelligence to it. Martin cited Omniverse, Nvidia's simulation software, which generates a digital twin of a factory, an accurate digital copy of the physical environment.
It seems like the US economy is off to a strong start in the second quarter. Despite the increasing risks of a recession due to the Federal Reserve's rapid tightening of monetary policies, most economists anticipate that consumer spending will continue to uphold the US economy. These effects may be cumulative and delayed but are expected to expand.
According to the Department of Commerce, retail sales experienced a 0.7% recovery last month, excluding automobiles, gasoline, building materials, and food services. The data from March was revised, showing a slight decrease in core retail sales of 0.4%, rather than the previously reported 0.3%. In the first quarter, consumer spending increased and helped balance out the decrease in GDP growth caused by inventory liquidation. Consumer spending makes up more than two-thirds of US economic activity.
It Pays to Pin: Amazon Has Struck a Deal with Pinterest
Photo Credit: PYMNTS
Get pinning and shopping with Amazon and Pinterest. The two giants recently announced a partnership that allows users to purchase products directly from the platform. Pinterest has been working on connecting product ideas with buying options for a while now. They recently teamed up with Amazon, which could make the purchasing process easier for customers. This partnership means that Amazon shoppers won't need to fill out forms since their payment information is already saved. Therefore, the checkout process may be faster than on other online shopping websites. According to a statement from Pinterest, users who come across an Amazon advertisement on their platform will be taken directly to Amazon's platform to complete their purchase.
Try this. Schedule your product drops and promotional campaigns in advance. This will help ensure that you’re able to capture sales from the moment they launch, as well as give your customers time to think about their purchase before making it.
FUN FACT
$41 billion was lost to e-commerce fraud in the year 2022.
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On the 85th episode of Marketing Interruption, Andrew Maff recaps this week's Final BFCM Prep Series and everything that was discussed for sellers to be doing to do final preparations for Black Friday/Cyber Monday. He touches back on tracking, testing, calendars, and what to do when the big weekend is finally here.
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