Retail and eCommerce highlights this week include: Deloitte Digital and Salesforce collaborate to help unleash the power of trusted AI for CRM. Forever New continues partnership with Riskified to maximise eCommerce revenues, reduce costs, and enable a seamless shopping experience. Online marketplace and global tech retailer Mercari and Newegg will both use Rokt’s machine learning–powered technology to deliver a more relevant customer experience. Shoplazza, an eCommerce SaaS platform is set to roll out two significant enhancements to its product suite.
Deloitte Digital and Salesforce collaborate on Trusted AI for CRM
Salesforce and Deloitte Digital have announced a collaboration to provide businesses around the world with the accelerators and strategies they need to deploy trusted AI for CRM. Deloitte Digital will offer its AI services, industry experience, and deep knowledge of data protection regulations to help organizations implement and scale AI Cloud. Together, Salesforce and Deloitte Digital will help clients harness the power of AI for CRM to deliver tailored customer experiences, supercharge company productivity, and safeguard their data.
New Salesforce research reveals that 73% of employees perceive generative AI as introducing new security risks, and almost 60% of those intending to use the technology lack knowledge regarding data security measures.
Strategies Ready to Deploy AI for CRM: Quantitative, research-backed trust framework to prepare customers to deploy AI for CRM in a way that addresses security, privacy, and compliance requirements from customers and leads to loyalty and brand equity.
Industry-Specific AI Use Cases: Deloitte Digital AI readiness labs with dedicated industry-specific immersive experiences to explore the potential of generative AI and accelerate the adoption of the AI Cloud across various sectors, including technology, healthcare, and financial services.
Upskilling in AI for CRM Success: The Deloitte AI Academy’s commitment to upskill 10,000 professionals across the globe will include training programs to develop and enhance generative AI for CRM skills, fostering the next generation of talent within the Salesforce ecosystem.
Trusted AI for CRM: AI Cloud is built for CRM – supercharging customer experiences and company productivity by bringing together AI, data, analytics, and automation to provide trusted, open, real-time generative AI that is enterprise ready.
Forever New continues its partnership with Riskified
Riskified a provider in eCommerce fraud and risk intelligence, has extended its partnership with global fashion brand, Forever New, to protect 100% of its online transactions from fraud while ensuring a great experience for its growing customer base. With Riskified, Forever New maintains consistently high approval rates while minimising chargeback costs, creating revenue certainty and bottom-line predictability in a volatile economic environment.
Forever New was established in Melbourne, Australia in 2006, and its fashion collections can be found in 400 stores worldwide. Beloved by its customers, Forever New makes it a priority to provide a superior experience both online and off. By partnering with Riskified, Forever New is able to ascertain the legitimacy of transactions to boost approvals of legitimate purchases and remove friction at the point of checkout.
Historically, Forever New’s transaction review process included several manual touchpoints across different functions spanning from customer service to the warehouse management team. Using Riskified’s machine-learning platform, regularly optimised by expert analysts and data science teams, the Forever New team has been able to fully automate the review process and transfer their efforts to other business-critical initiatives. Riskified’s Chargeback Guarantee offering helped Forever New reduce chargebacks by more than 84%, improving the fashion retailer’s profit margins.
Forever New joins a wave of other retail fashion brands that have partnered with Riskified, including ALDO, Prada, and Gymshark, as demand for sophisticated risk management solutions continues to rise alongside the popularity of digital shopping channels.
Rokt unlocks new eCommerce revenue opportunities for Mercari and Newegg
Rokt, the leading eCommerce technology using machine learning to make transactions more relevant to each shopper, today announced new partnerships with Mercari, the online marketplace that connects millions of people across the U.S. to shop and sell items that are no longer being used, and Newegg Commerce, a global eCommerce leader for technology products. Both Mercari and Newegg have partnered with Rokt to unlock new revenue opportunities and drive customer lifetime value on their eCommerce sites.
Rokt enables companies to tap into additional revenues, acquire customers at scale and deepen relationships with their existing ones by using machine learning to present highly relevant offers to each shopper in the final stages of an eCommerce transaction when they are most likely to convert.
Mercari is constantly innovating to make exchanges on its platform easier and more relevant to customers. Newegg is a leading global online retailer of PC hardware, laptops, desktop PC systems, consumer electronics, gaming peripherals, home appliances, and lifestyle technology. Newegg also serves businesses’ eCommerce needs with marketing, supply chain, and technical solutions in a single platform.
Shoplazza to unveil groundbreaking eCommerce tools at Collision Toronto 2023
The first key release from Shoplazza is a transformative ChatGPT content generation tool designed to elevate merchant efficiency and conversion rates. In response to the significant developments in the AIGC (Artificial Intelligence Generated Content) trend, Shoplazza is keeping pace with changes by deploying this tool that rapidly produces high-quality, authentic content. It leverages advanced machine-learning algorithms to craft compelling narratives from provided product features and selling points, and offers multilingual translation, localization optimization, and tonal adjustments for brand consistency. Moreover, it has the unique ability to optimize existing content, making it an invaluable asset for any eCommerce business looking to stay ahead in the dynamic landscape of AIGC.
The second release is the OnePage Theme, a distinct design tailored for markets where Cash on Delivery (COD) is prevalent. Spanning across various industries, this theme seamlessly merges the product description and checkout page, thus streamlining the customer journey from product browsing to order placement. Its intuitive design significantly enhances the customer experience and boosts the success rate of COD transactions, particularly in regions such as the Middle East, Latin America, Southeast Asia, and Africa.
Retail and eCommerce News from the week beginning 19 June 2023
