IK Bennett’s AI Powered Fitting Service, Amazon Prime Day Drives Sales and More News
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Happy Friday, everyone — another week has passed by, and it’s certainly been a blast. We hope you’ve been doing well, and that you have something nice planned for the weekend. Hopefully the weather will stay as lovely as it is right now! In the meantime, you can check out last week’s eCommerce news if you didn’t get the chance. And if you did, then let’s dive straight into this week’s News Digest!
Today’s news is 1650 words and takes 6 minutes to read.
IK Bennett’s AI-Powered Fitting Service
UK-based fashion label LK Bennett is taking a stride into the future by integrating artificial intelligence (AI) into their operations. This opportunity became possible through a new collaboration with tech company TrueFit. The partnership aims to revolutionize online shopping experiences by introducing advanced fitting services.
LK Bennett plans to implement TrueFit’s Fashion Genome technology. In turn, enabling customers to tailor their fit preferences and decipher sizing information more accurately. This innovation aims to bolster customer conversion rates. It will also minimize product returns and cultivate customer loyalty.
Integrating TrueFit’s technology into LK Bennett’s e-commerce platform will equip shoppers with AI-powered recommendations. This enhancement will leverage data to create a more personalized and efficient shopping experience.
Darren Topp, CEO of LK Bennett, expressed enthusiasm for the new collaboration in a recent press release.
“We strive to offer our customers top-tier, personalized shopping experiences, irrespective of the channel they choose,” he said. “Our collections are designed to be timeless investments. We want customers to not only appreciate the quality and craftsmanship of our pieces, but also to shop with the assurance that the garment will be a perfect fit for their individual size preferences. This move aims to heighten customer satisfaction and reduce returns.”
Later this year, the brand plans to roll out AI-driven size and fit personalizations on its US and European websites. It’s officially marking an exciting development in its global customer experience strategy.
The development of AI is certainly creating more and more sustainable brands.
Big Retailer News
Amazon Prime Day Drives Sales
During Amazon’s 48-hour Prime Day event, online spending by US shoppers reached $12.7 billion. This marked a 6.1% increase from the previous year, as reported by Adobe Inc. However, this increase fell short of the projected 9.5% growth.
The data suggests a growing trend among consumers leveraging “buy now, pay later” services. It indicates rising economic concerns among shoppers, likely due to persistent inflation and ongoing economic uncertainty. The uncertainty prompts consumers to seek more flexible options for managing their expenses during major shopping events like Prime Day.
Vivek Pandya, an analyst at Adobe, offered insights into this emerging trend.
“For several months, consumers have been feeling the pressure from sustained inflation and an unpredictable economic climate, leading to a shift towards more adaptable spending methods during the Prime Day event,” he explained.
Pandya predicts that this shift towards BNPL services could set the tone for consumer behavior in the coming months. In particular as we approach the holiday shopping season.
BNPL services are becoming increasingly popular. Having this services available when selling will boost your eCommerce sales. Find out more about that in our article on how to boost your eCommerce business.
Lawsuits and Financial Consequences
The emergence of “Schedule A Defendant” lawsuits is causing alarm among online merchants. Legal firms are deploying these lawsuits as a method for trademark enforcement on behalf of their clients. The effect on the sellers is profound. The approach involves a single suit that targets hundreds of sellers simultaneously for allegedly selling branded products without permission. Default judgments from these suits can leave sellers owing substantial sums and cause a significant hit to their businesses.
Eric Goldman, a law professor, voiced his concerns about these schemes after closely examining the process. He pointed out the routine discrepancies in the procedures and outcomes of these cases compared to his understanding of the law. These schemes have increased, with the Northern District of Illinois seeing over 800 filings in 2022 alone. These lawsuits are generally quick to get injunctions against defendants. Due to sealed defendant lists, many sellers are unaware somebody sued them.
An aspect that raises skepticism among sellers is how they receive the lawsuit notice. While traditional understanding indicates that a legal notice should come in person or by mail, in these cases, the defendant may only learn about the lawsuit when they freeze their marketplace account.
Sellers are often unsure about the legitimacy of the notices received, further complicating the situation. This practice, according to Professor Goldman, is one of the hallmarks of a Schedule A Defendant scheme. These cases move extraordinarily fast, putting sellers at an increased risk.
What does it mean for eCommerce sellers?
These lawsuits introduce an additional layer of risk for sellers. They now need to be extremely careful about the products they list for sale to ensure they are not infringing on any trademarks. It’s a task that can be challenging given the wide range of products available online.
Sellers may need to become more vigilant about monitoring their communications and staying on top of any potential legal notices. How these lawsuits are often handled can lead to a lack of clarity about whether sellers receive real lawsuits. This is due to serving notices via email or the seller’s online marketplace account.
Also in the News
- 29 fab home products — get inspired for your eCommerce store. Buzzfeed.
- Amazon’s back-to-school ad. AdAge.
International Retailer News
China’s AI regulations
In a proactive move, China stands among the first nations to regulate generative AI technology, a dynamic sector that includes popular services like ChatGPT.
On July 13, the Cyberspace Administration of China rolled out an updated set of guidelines to oversee this rapidly growing field. Slated to come into effect from August 15, these “interim measures” come across as notably softer compared to the preliminary draft from April, signaling regulators’ intent to foster the development of generative AI.
The freshly minted regulations apply to companies creating AI products for public consumption. They do not concern those involved in machine learning technology development. One of the key mandates requires generative AI programs to uphold the core values of socialism and avoid uses that may destabilize the socialist system. These rules are primarily applicable to services within China and don’t cover technology used by overseas users.
What does it mean for sellers?
For sellers, particularly those utilizing generative AI in their businesses, these new regulations in China carry several implications. It means that companies developing AI products for public use will need to align their operations with these rules. It might include amending their AI algorithms to adhere to the socialist values dictated by the guidelines. It’s worth noting that these regulations are currently applicable only within China, thus sellers operating exclusively overseas aren’t affected.
The guidelines also mean that sellers will need to go through the process of registering their algorithms with the government and may be subject to periodic security reviews. This additional layer of oversight could potentially impact the pace of product development and market release.
However, on a positive note, the encouraging tone of the regulations signals that the Chinese government is supportive of innovation and development in the AI sector. This could lead to more opportunities for sellers, in terms of new market potentials and increased funding for AI-based ventures. Lastly, sellers with an international footprint may have a chance to contribute to setting global rules and standards in the generative AI domain. It could further influence their strategic decisions and growth trajectories.
JB Concept Collaboration with Catalate
JB Concept, a French market leader in sales solutions for tourism and ski resorts, announced its strategic collaboration with Catalate, an expert in dynamic pricing. This exciting partnership brings together two industry trailblazers. They are aligning their technological synergies to provide customers with innovative, comprehensive solutions. JB Concept’s customers will now benefit from Catalate’s well-established dynamic pricing strategy, while Catalate’s clients gain access to JB Concept’s diverse product offering.
The first beneficiary of this integration is Avoriaz, a respected Catalate partner. As part of the agreement, Avoriaz will utilize JB Concept’s powerful e-commerce platform coupled with Catalate’s advanced dynamic pricing. Catalate’s unique algorithm uses a wide-ranging global pricing dataset, enabling tourism sectors, including ski resorts, to optimise ticket prices. It’s boosting conversion rates and advances online ticket sales.
Avoriaz’s commitment to adopting leading-edge offerings from both providers will significantly enhance the visitor experience at this globally recognized pedestrian resort.
Together, these two companies offer an unrivaled blend of products and services, setting a new industry standard for functional coverage.
What does it mean for eCommerce sellers?
For e-commerce sellers, this partnership means an increased opportunity for improved profitability and growth. The integration of JB Concept’s extensive product offering with Catalate’s dynamic pricing technology can enable sellers to optimally price their products, enhancing conversion rates and online sales.
Moreover, the partnership provides e-commerce sellers with a comprehensive toolkit for managing their online presence. JB Concept’s robust e-commerce platform can offer:
- efficient handling of online transactions,
- customer relationship management,
- point of sale operations,
- and more.
This partnership ultimately allows sellers to create a more streamlined and efficient business process.
Also in the News
- El Green Mall launch — a brand new, sustainable, European marketplace. Good Men Project.
- Ele.me welfare benefits. Technode
Webinars
For everyone
Various dates: Amazon advertising’s global webinar program continues with 20+ webinars scheduled, covering Sponsored Products, Sponsored Brands, reporting, optimization, and other tips. Amazon.
For US sellers
August 3: The 30 Minute Breakdown. Tinuiti.
For UK sellers
Various dates: Amazon advertising’s global webinar program continues with 20+ webinars scheduled, covering Sponsored Products, Sponsored Brands, reporting, optimization, and other tips. Amazon.
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