Black Friday online shopping comes in $9B, $3.6B on smartphones

~ Brandon McGee ~ Leave a comment
Image Credits: Pete Saloutos / Getty Images
  • “Adobe, which is following online sales in real-time at 80 of the top 100 retailers in the U.S., covering some 100 million SKUs, said US consumers spent $9 billion online on Black Friday, up 21.6% on a year ago. Adobe had originally forecast sales of between $8.9 billion and $9.6 billion.
  • Smartphones continued to account for an increasing proportion of online sales, with this year’s $3.6 billion up 25.3%, while alternative deliveries — a sign of the e-commerce space maturing — also continued to grow, with in-store and curbside pickup up 52% on 2019.
  • The average cart size for US shoppers was $95.60
  • In either case, smartphones continue to be a major driver of how sales get made. Adobe said 40% of all sales were on handsets, lower than the day before but 7% higher than in 2019.
  • Cyber Monday is likely to continue to be the biggest of them all, expected to bring in between $11.2 billion and $13 billion in e-commerce transactions, up 19%-38% year-on-year.”

https://www.google.com/amp/s/techcrunch.com/2020/11/28/black-friday-online-sales-numbers/amp/

Adobe beefs up its Magento ecommerce platform with AI and reveals early online holiday sales results

~ Brandon McGee ~ Leave a comment

“Adobe’s Sensei uses visual AI to recognize and process product imagery and match patterns, Jason Woosley, vice president of commerce product and platform for Adobe’s Experience Business, writes in a blog post. Because the recommendations feature is visually driven, merchants do not need to collect and analyze consumer behavioral data to use it, making it faster to implement, Adobe says. The feature will be available Dec. 8.”

https://www.google.com/amp/s/www.digitalcommerce360.com/2020/11/24/adobe-beefs-up-its-magento-ecommerce-platform-with-ai-and-reveals-early-online-holiday-sales-results/amp/

Citi Ventures is shifting from artificial intelligence to artificial enlightenment | ZDNet

~ Brandon McGee ~ Leave a comment

“Colella believes the tools of artificial intelligence can be used to analyze granular data in real-time in order to help provide people and organizations with personalized, in situ insights to inform and improve their daily lives and work. She believes this is artificial enlightenment (AE). According to Colella, the shift from intelligence to enlightenment is made possible by today’s computational tools and vast quantities of data are making this new paradigm possible. Colella writes about three driving factors behind AE”

https://www.google.com/amp/s/www.zdnet.com/google-amp/article/innovation-and-entrepreneurship-lessons-from-citi-ventures/

Vanessa Colella

Chief Innovation Officer

http://linkedin.com/in/vanessacolella

ROI of AI Falling Short at 89% of Organizations

~ Brandon McGee ~ Leave a comment
  • “According to research by MIT Sloan Management Review and the Boston Consulting Group, the challenge of achieving data and analytics maturity has moved from understanding the power of AI to actually recognizing the financial benefits of the technology. Unfortunately, the research found that only 10% of companies that deploy AI actually realize significant financial benefits.
  • A survey done after the pandemic impacted banking found that 75% of financial institutions considered themselves “not adept” at using data and analytics for the determination of “next best action” for marketing purposes.”

https://thefinancialbrand.com/104388/banking-ai-technology-organizational-learning-trends/