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Ecommerce & Marketplaces Newsletter – Feb 23rd, 2024

In this edition, Adrien Nussembaum, Co-Founder and CEO of Mirakl discusses how ChatGPT and other tools are helping organizations in a wide variety of industries. PYMTS discusses eCommerce giants Walmart, Amazon and Shopify and the continued surge in online shopping has given momentum to efforts to craft merchant marketplaces. Read these and other exciting stories from Forbes, Retail Touchpoints, Insider Intelligence and more. #onlinemarketplace #aiinecommerce #newsletter

While in-person shopping is back, eCommerce continues to thrive. Over the past decade, eCommerce has undergone significant transformations including the rise of online marketplaces, mobile shopping, online and digital marketing to name a few. Rapid advancements in technology and changing consumer preferences make staying ahead of the curve instrumental in order to remain competitive. Experts predict worldwide retail eCommerce sales will climb from about 6 trillion US dollars to just over 8 trillion dollars by 2026 (The Future of Commerce – https://www.the-future-of-commerce.com/2023/12/20/e-commerce-trends-2024/).

 news from the past week

Building Loyalty Without Breaking the Bottom Line

Online shopping is now easier than ever before, enabling consumers to purchase everything from socks to a dining room table from a computer at their home to a mobile phone in an airport terminal. While this is good news for many ecommerce retailers, it has also become more and more expensive to deliver those goods to customers. 

Forbes

For E-Commerce, The AI Revolution Is Ahead of Schedule

In a recent Forbes article, Adrien Nussenbaum, Co-Founder and CEO of Mirakl discusses how tools like ChatGPT are helping organizations in a wide variety of industries to accelerate workflows and increase productivity. E-commerce is no exception; we should expect generative AI to completely change the way companies create and optimize product descriptions and other content. 

 

Thrive Market Becomes 1st Online-Only Retailer to Accept SNAP EBT

Online grocery store Thrive Market now accepts SNAP EBT, making it the first-ever online-only retailer to receive USDA approval which allows the company to make healthy groceries more accessible and affordable. “Millions of individuals now have access to healthier foods that suit their dietary needs because SNAP EBT is now accepted on our platform,” said Sasha Siddhartha, Thrive Market’s co-founder and CTO.

 

Online Winners and Losers Emerge as Amazon, Temu and Shein Ramp Up Finance Review

Domestic marketplaces have been hit hardest by Amazon’s expansion and the arrival of new players Temu and Shein. Winners and losers are emerging in Australia’s $60 billion online retail sector as Amazon takes share and new players with deep pockets enter the market.

 

Bangladesh Could See $500 Million From Online Marketplace

“We have well realized the significance of the virtual marketplace during the lockdowns during Covid-19,” Faruque Hassan, Bangladesh Garment Manufacutrers and Exporters Association president said. The nation has battled with China to be the top exporter of readymade garments to the United Kingdom…for Bangladesh’s garment industry to remain competitive in a rapidly changing marketplace, expanding it’s e-commerce is essential.

 

3 Ways Retailers Can Implement AI-Powered Personalization Without Being Intrusive

Some 71% of US retail decision-makers have invested in data and AI-enabled content for personalization, according to an August 2023 survey by Coresight Research. As more brands adopt AI to scale tailored content, they’re also confronted with the challenge of protecting—and respecting—their audience’s privacy. Read this summary and listen to the eMarketer podcast to gain a lot more insights in the use of AI-powered personalization.

 


eCommerce Giants Make Headway Crafting Services Across Merchant Marketplaces

For eCommerce giants — Walmart, Amazon and Shopify are among the most visible examples — the continued surge in online shopping has given momentum to efforts to craft merchant marketplaces. Earnings reports from these companies show that more merchants are taking advantage of fulfillment services and advertising, which opens up additional revenue streams. Read this and much more news from PYMNTS.


To subscribe to the Ecommerce & Marketplaces Newsletter, please complete the subscription form on this page (either to the right or below this article, depending on device). If you have any suggested content for this newsletter or would like to discuss evolving your organization’s digital commerce, please write to us at info@mcfadyen.com.

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