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AI-Driven Shopping Boosts Online Holiday Sales, Salesforce Data Shows

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AI-powered chatbots and other digital tools significantly contributed to a nearly 4% year-over-year increase in U.S. online sales during the 2024 holiday season, according to Salesforce data. Retailers harnessed AI-driven customer service features such as conversational chatbots, targeted promotions, and personalized product recommendations to attract shoppers seeking trending products and the best deals.

From November 1 to December 31, U.S. online sales reached $282 billion, up from $272 billion in 2023, surpassing Salesforce’s initial 2% growth forecast, despite more restrained discounts. AI-based chatbots saw a 42% increase in usage compared to the previous year, with Salesforce analyzing data from 1.6 trillion page views to reach this conclusion.

Globally, AI-driven sales grew to $229 billion, compared to $199 billion in 2023. While AI was a major growth driver, a concerning 28% product return rate, up from 20% in 2023, was highlighted as a potential drag on profit margins for retailers, according to Caila Schwartz, director of Consumer Insights at Salesforce.

“Retailers who have embraced AI and agents are already seeing the benefits, but these tools will be even more critical in the new year as retailers aim to minimize revenue losses on returns and re-engage with shoppers,” Schwartz said.

The report also noted that mobile shopping peaked on Christmas Day, with 79% of all orders made through smartphones during the holiday season. Social media platforms like TikTok Shop and Instagram helped drive 14% of all traffic to e-commerce sites.

 

E-commerce Startup Rokt Valued at $3.5 Billion Following $335 Million Secondary Offering

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E-commerce technology firm Rokt has reached a valuation of $3.5 billion after securing $335 million in a secondary share offering. The offering was backed by prominent investors, including Tiger Global Management, Square Peg, Australia’s Barrenjoey, and SecondQuarter, with some of Rokt’s board members also participating in the deal.

Founded in 2012 in Australia, Rokt leverages artificial intelligence and machine learning to enhance the e-commerce experience by analyzing online shoppers’ behaviors and interactions with products. The company’s valuation had previously been $2.4 billion at the close of 2022, marking significant growth over the past year.

CEO and co-founder Bruce Buchanan expressed pride in the company’s progress, citing a remarkable 43% year-over-year revenue growth, which reached $600 million. Rokt has expanded globally, operating in approximately 15 markets across North America, Europe, and the Asia-Pacific region. Its clientele includes major companies like Uber, Macy’s, Live Nation, and AMC Theatres.

In a separate development, Rokt also announced a merger with customer data platform mParticle in a $300 million deal, further enhancing its growth trajectory.

Amazon Opens Walk-In Centre in Cape Town to Expand Market Share in South Africa

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Amazon has launched a walk-in centre in Cape Town, South Africa, aimed at supporting independent sellers and helping them grow their businesses. This move is part of Amazon’s strategy to capture more market share in Sub-Saharan Africa, where it competes with local e-commerce leader Takealot, owned by Naspers.

Robert Koen, Managing Director of Amazon Sub-Saharan Africa, highlighted the importance of expanding Amazon’s product range to attract more customers. The company’s global marketplace relies heavily on independent sellers, with over 60% of Amazon’s sales worldwide coming from small- and medium-sized businesses. The new centre in Cape Town is designed to help these sellers reach a wider customer base by offering various services, including on-the-spot registration for selling on Amazon.co.za, training, product imaging, cataloguing assistance, and shipping and logistics support.

Since Amazon launched in South Africa in May of the previous year, the Cape Town centre represents the company’s first significant infrastructure in the region. Koen reported positive results from the recent holiday season, with the company exceeding its goals and seeing strong feedback from first-time shoppers, particularly appreciating the speed of delivery.