Ecommerce & Marketplaces Newsletter – May 19th, 2023
In this edition, PYMNTS reports on Amazon's plans to add generative AI to its search experience. Talking about AI, generative AI in E-Commerce and the market size will hit USD 2,123.6 Mn by 2032 at a CAGR of 14.9%, according to EnterpriseAppsToday.com. Mirakl has an interesting use case on how marketplaces are fueling a boom in active hobbies. Shopify has an insightful blog on Recommerce and how to sell resale goods in 2023. Digital Commerce 360 reports that Walmart's e-commerce sales grew 27% in Q1, driven by curbside and delivery orders. Read this and more in this week's edition.
Generative AI in E-Commerce Market size Hit USD 2,123.6 Mn by 2032
Generational artificial intelligence (AI) in e-commerce has seen steady adoption, revolutionizing how businesses operate. Generative AI refers to a technology that enables machines to generate original content such as images, videos, or texts based on patterns or data inputs; its applications in this industry span across various aspects.
Amazon Plans to Add Generative AI to its Search Experience
Amazon is reportedly looking to add generative artificial intelligence (AI) to its search function. There have been suggestions of that goal in the company’s job postings for engineers over the last month, Bloomberg reported Monday (May 15).
Online Marketplaces: A Key Strategy For SaaS Revenue And Trust
In the last few years, the SaaS industry has changed a lot, but the essential aspect is that it has grown fantastically. But with the growth, more challenges came for these companies.
How to Build a Winning eCommerce Merchandising Strategy
Building a winning eCommerce merchandising strategy might seem like a daunting task, but with a little know-how, you can get customers rushing through your digital doors. From savvy product placement to killer promotional tactics, we'll show you how to make your online store stand out in a sea of digital competition.
Spotlight on Sporting Goods: How Marketplaces Are Fueling a Boom in Active Hobbies
The sporting goods industry has been on a wild ride. In the earliest days of the Covid-19 pandemic, demand for outdoor and fitness equipment skyrocketed. Shoppers saw the opportunity to increase their physical activity and spend time in nature, and sales of equipment like kayaks, running shoes and even hot tubs increased as a result.
What is Recommerce? (+ How to Sell Resale Goods in 2023)
Recommerce (or reverse commerce) is the process of selling previously-owned products through physical and online channels. The last few years have been a turbulent time for retail. There’s the threat of a looming recession. Environmentally-minded consumers are questioning the wastefulness of the fast fashion industry.
Walmart Ecommerce Sales Grow 27% in Q1
Walmart Inc. said U.S. online sales were up 27% year over year in the first quarter of fiscal 2024. Ecommerce remained a bright spot for the quarter ended April 28, 2023. Total U.S. comparable sales excluding fuel for the first quarter grew more slowly, up 8.2% year over year. International results were similar, with ecommerce sales up 25% and comparable sales up 12.9%.