“Moreover, during the first quarter of 2020, Walmart’s eCommerce business in the US grew 74%. This was up to 97% in the second quarter, largely attributed to more customers shopping online during the pandemic.”
“Microsoft Corp., Walmart Inc. and Oracle Corp. have all expressed interest in the breakout app, the success of which rests on addictive video feeds powered by ByteDance’s AI-driven content-recommendation engine.
China announced new restrictions on artificial-intelligence technology exports that could further complicate the sale of TikTok’s U.S. operations, while intensifying the tech battle between the world’s two largest economies.”
“Not too long ago, NASDAQ predicted that by the year 2040, as much as 95% of shopping will be facilitated by ecommerce. Similarly, Shopify Plus estimates that by the year 2021, worldwide retail ecommerce sales will reach $4.9 trillion
Today, it is either go digital or go home. So, for all businesses looking for an ecommerce mobile app builder, Studio Store could be an interesting option.”
“Online sales in the U.S. jumped 74% for its fiscal first quarter that ended April 30, which captured the brunt of the pandemic’s outbreak. Same-store sales rose 10% at U.S. Walmart stores on strong sales of food, health and wellness goods.
Ken Perkins, president of research firm Retail Metrics, said he expects earnings will be down 36.6% for the 103 retailers he tracks compared to the year-ago period.”
“Domino’s uses artificial intelligence to determine its pizza delivery times and, in Australia and New Zealand, to monitor quality. Sephora’s ColorIQ scans shoppers’ skin to provide custom recommendations for foundation and concealer. Walmart’s Intelligent Retail Lab is experimenting with a number of artificial intelligence tools.
‘retailers — except for the top ones — are struggling to find talent for an internal team to bring that kind of data science on board. There is a great push to find solution providers with AI embedded. It basically democratizes the capabilities that AI brings to the table.’
‘Yes, in the long run, Amazon would love to think that everyone is using Alexa to shop but that’s not the real endgame. All the other uses — the queries, the questions, checking the score in the game, the weather — all of that data can begin to inform Amazon’s strategy and choices. It’s not simply about order data but being privy to some of the most intimate queries that customers are making.’”