Cyber Monday online sales hit a record $11.3B, driven by demand, not just inflation, says Adobe

  • “Cyber Monday pulled in $11.3 billion in sales online according to figures from Adobe Analytics, which tracks seasonal e-commerce activity. This is 5.8% more than consumers spent on the same day last year
  • Thanksgiving saw $5.29 billion in sales and Black Friday had $9.12 billion in sales — both also up on earlier forecasts. The weekend between had $9.55 billion in sales.
  • At the peak, people were spending $12.8 million per minute on Monday
  • In other trends, buy-now-pay-later transactions (BNPL) continued to be a force in how purchases are being made…Overall Cyber Week BNPL orders were up 85% over last week, with revenues up 88%.
  • Mobile also continues to account for a big proportion of buying, although Cyber Monday’s 43% of all online sales when people are back at their desks was definitely down from the 55% of purchases on Thanksgiving.”

Read full article at TechCrunch.com

U.S. Black Friday online sales hit record $9 bln despite high inflation- Adobe Analytics

  • “U.S. shoppers spent a record $9.12 billion online this Black Friday
  • Online spending rose 2.3% on Black Friday
  • Americans turned to smartphones to make their holiday purchases, with data from Adobe showing mobile shopping represented 48% of all Black Friday digital sales.”

https://www.reuters.com/business/retail-consumer/adobe-says-black-friday-online-sales-hit-record-9-bln-2022-11-26/

What an AI-powered World Cup obscures

“FIFA is touting an AI-powered decision-making system that will use sensors in the actual soccer ball to help determine calls. A vast network of facial recognition-enabled cameras will track the crowd, with technology in the same family as that deployed by the controversial firm Clearview AI. AI-powered sensors in the stadiums will even help control the climate.”

https://www.politico.com/newsletters/digital-future-daily/2022/11/21/what-an-ai-powered-world-cup-obscures-00070345

STORE OF THE FUTURE Inside the ‘futuristic’ Walmart – see if the new high-tech features are expected at your store

  • “The revamping of the traditional superstore comes as ever-day shopping habits have continued to lean heavily in favor of e-commerce and online shopping.
  • Shoppers can expect to find new dynamic displays of items with digital touchpoints as well as QR codes to find more information or options for the merchandise.
  • Walmart Plus is a monthly or annually paid subscription to the superstore to get access to free shipping and delivery, gas savings, rewards, video streaming with Paramount+, and limited time offers such as Spotify deals.”

https://www.the-sun.com/money/6721288/futuristic-walmart-high-tech-features-expected/amp/

Digging Into KeyBank’s Conversational AI Strategy

“In the first month after the AI initiative went live, Kontul reports there were nearly 3,000 daily sessions with MyKey, for a total of 250,000 interactions. The digital assistant is also reducing cost to serve by solving customer problems within the app rather than using other channels with an 84% ‘containment rate’ so far.”

https://thefinancialbrand.com/news/data-analytics-banking/artificial-intelligence-banking/digging-into-keybanks-conversational-ai-strategy-155483/