“Several days ago, Bloomberg reported that Amazon is considering opening up 3,000 Amazon Go convenience stores by 2021. If you’re not familiar with Amazon Go, here’s how it works: you download an app to your smartphone, hold the app over a scanner when you enter the Amazon Go store and that’s it — anything you buy will be charged to your account, you never go to a register to check out. If you pick something up and put it back you’re not charged. I have been to the store and it works well. Amazon Go is to convenience stores what Uber is to taxis, you leave without having to take any time to pay.”
“Indian consumers have started embracing e-commerce with great zeal. According to Forrester, India is the fastest-growing online retail market in the world that will reach $64 billion by 2021, growing at a CAGR of 31.2%. The global payments leader, Worldpay, estimates that India will outshine the US to become the second largest e-commerce market globally by 2034.
The growth potential of this sector is causing Indian e-commerce players to bolster their technological investments with Artificial Intelligence (AI) and Machine Learning (ML) being the pivotal area. Experts estimate that Amazon India, Flipkart and Paytm Mall will spend nearly $2.5 billion on AI and ML in 2018.”
The company’s innovative retail personalization solutions have fueled a three-year growth rate of 260 percent in North America driven by deep relationships with 2,500 of the world’s fastest growing brands. Nosto has also driven a gross merchandise volume (GMV) of more than $10 billion through its customer stores, and is averaging a 22 percent increase year over year GMV for retail customers, significantly higher than the average of 14 percent for ecommerce retailers.