E-Commerce Prediction – Remarkable AI Increase

Updates: Amazon

We have discovered a new feature in the search bar on Amazon.de: It is now possible to find products on Amazon using an image search. Simply upload a picture and similar products will appear as results – particularly useful if you don’t know the product name or brand. We assume that this new feature is still being tested.

News: Amazon

New seller fees in the EU from 2024 on

Now it’s official for the EU too: Amazon is publishing some updates on the fees for sellers this year. Particularly interesting:

• The introduction of a returns handling fee from October for products with high return rates to reflect the operational costs of returning goods and reduce waste.
• The increase in domestic shipping fees for shipping by Amazon in the UK and other countries, while remaining unchanged in Germany.
• Most changes will take effect on February 5, 2024, unless otherwise stated.

More Amazon News:

• New grocery subscription on Amazon

News: E-Commerce

Clothing and Jewellery Lead Festive Retail in the UK

The festive retail season in the UK witnessed notable winners, with clothing and jewellery sectors taking the lead. Insights provided by Mastercard SpendingPulse shed light on the trends that shaped the UK’s holiday shopping landscape.

• Mastercard SpendingPulse data revealed that clothing sales saw an impressive year-on-year increase of 8.2%, reflecting strong consumer demand for fashion items during the festive period.
• The jewellery sector also thrived, with a significant 6.5% year-on-year growth, indicating that consumers were keen on adding some sparkle to their holiday celebrations.

More E-Commerce News:

• Temu is the most successful iPhone app of 2023
• Royal Mail to Launch Parcel Lockers to Compete with Amazon

News: AI in Online Retail

AI in E-commerce: market expected to grow to 14 billion

These are the latest forecasts for the use of AI in the e-commerce market: According to a report by GlobeNewswire, the market for artificial intelligence in e-commerce is expected to grow to an impressive 14 billion US dollars by 2028.

• This growth is due to the increase in online shopping and the increased use of AI technologies.
• AI-powered chatbots and virtual assistants are increasingly being used to provide personalized shopping experiences, intelligent product recommendations and efficient inventory management.

More AI News:

• AI affects global Christmas sales by 194 billion dollars?
• How AI will shape our shopping experience
• OpenAI is the second most valuable US startup

Did You Know?

Source: Remazing Amazon Shopper Report 2023 by Remazing & Appinio