Artificial Intelligence

Global companies agree that innovation is critical to survival but not enough projects are successfully driving growth and increasing revenue.   Specifically, two-thirds (66%) of global organizations said innovation is crucial to their longevity, but only 28% are seeing returns on their investments (ROI), according to “Innovation Matters,” a report from PA Consulting Group. The report tapped 821 senior executives across C-level, senior VP, board and director level positions.  

FreshDirect, Subway and The Cheesecake Factory have added a new item to their menus — conversational commerce.   Through a partnership with MasterCard, the three brands are now using artificial intelligence (AI)-based bots to enable consumers to browse menus, build orders and securely checkout via Masterpass — all without leaving the Messenger chat-based platform.   

Amazon’s newest win could expand its foothold in the private-label apparel category.    The online giant won a patent on Tuesday, April 18, for an on-demand apparel manufacturing system. The solution includes a textile printer, textile cutter, and a computing device that will work in concert to design apparel once customers place an order.  

As more shoppers embrace digital solutions, apparel retailers must merge online and offline experiences to drive e-commerce sales.   This was according to “Apparel Trend Report: Reconciling the Tech with the Tactile,” a report from Criteo that highlights the latest shopping trends in the apparel and accessories retail category. The report offers insight into shifting shopper behavior and actionable intelligence for retailers and brands as they seek to fully capitalize on the apparel e-commerce ecosystem.  

There’s no denying that Amazon has changed the face of retail, but there are many misconceptions about how the company actually operates. Many wrongly believe that Amazon makes most of its profits from e-commerce, while others incorrectly view Amazon as the long-tail poster child. Unfortunately, these fallacies are leading many retail companies into making bad strategic business decisions as they try to duplicate Amazon’s success.   The following is a breakdown of some Amazon myths along with a few takeaways: 

Walmart hit the century mark in terms of training academies.   The retailer on Monday celebrated the grand opening of its 100th U.S. training academy, in Frontage, Edmond. The academies were first introduced in 2016 and have expanded to 40 states.  

Google hopes its new visual search tools will become a new accessory for its fashion shoppers.    To assist customers eager to buy merchandise featured in online lifestyle images, Google introduced two new mobile image-based search tools this week that will help customers locate their desired pieces more easily.   

A messaging app launched a new lens that could help drive shoppers through retailers’ doors.   Snapchat’s Snap to Store product is a geofilter that retailers can sponsor.    When Snapchatters use the retailer-specific overlay on their snaps and share it in their story, Snap analyzes who sees those branded snaps and tracks whether users — or their followers — visit the store, according to New York Business Journal.