The rise of large language models (LLMs) like ChatGPT has thrust generative artificial intelligence (AI) into the driver’s seat of retail technologies, prompting brands across industry subsegments to reassess their strategies. This development follows retailers’ years-long efforts to leverage AI’s earlier iterations to support novel...
The rise of large language models (LLMs) such as ChatGPT has thrust generative artificial intelligence (AI) into the driver’s seat of retail technologies, prompting brands across industry subsegments to reassess their strategies. This development follows retailers’ yearslong efforts to leverage AI’s earlier iterations to support...
Coupang has reported strong financial results for the third quarter of 2023. The company’s net revenues reached $6.2 billion, with a year-over-year growth of 21% on a reported basis and 18% on an FX-neutral basis, the South Korean eCommerce platform said in a Tuesday (Nov....
Amazon is closing its physical clothing stores as it shifts its focus to its online fashion shopping experience and expanding its grocery stores business. The two Amazon Style stores, located in Glendale, California, and Columbus, Ohio, will be closed by Nov. 9, Bloomberg reported Thursday (Nov. 2). Amazon spokesperson Kristen Kish...
October 12, 2023
Real-time payments are becoming a major player across industries. Large retail, manufacturing and insurance firms recognize the significance of real-time payments for business-to-business (B2B) operations. Notably, 81% of large retailers identify the payment method as critical for making B2B payments. Despite the broadly shared consensus on the benefits of real-time payments, adoption rates among these […]
September 25, 2023
The allure of real-time payments is not lost on retail giants. Nearly all retailers generating $100 million or more in annual revenues have embraced real-time business-to-business (B2B) payments. Fifty-four percent...
September 20, 2023
The retail sector increasingly prefers real-time payments for their business-to-business (B2B) payments. Virtually all large firms in this sector used real-time payments at least once in the last year. Real-time...
November 02, 2023
Amazon is closing its physical clothing stores as it shifts its focus to its online fashion shopping experience and expanding its grocery stores business. The two Amazon Style stores, located in Glendale, California, and Columbus, Ohio, will be closed by Nov. 9, Bloomberg reported Thursday (Nov. 2). Amazon spokesperson Kristen Kish told the media outlet, “After careful consideration, we’ve decided to […]
October 18, 2023
Costco Wholesale has announced that CEO Craig Jelinek will be stepping down on Jan. 1, 2024, after more than a decade at the helm of the company, the company reported...
October 03, 2023
The Federal Trade Commission (FTC) has reportedly alleged that Amazon used a secret algorithm code-named “Project Nessie” to test the limits of price increases while ensuring competitors would follow suit. This algorithm aided...
September 18, 2023
Stitch Fix is leaning into personalized styling services as it aims to revolutionize the way customers shop. By combining advanced technology with human stylists, the online personal style platform delivers a...
