Inventory is at the heart of operations for many businesses. It’s the key revenue driver for any company selling a product, so effectively managing the incoming and outgoing shipments and staying connected across the sales funnel are essential.

Retail businesses using automation can save around 296 hours annually.

“By integrating live shopping, businesses can extend their reach globally, allowing fans and customers who cannot attend in person to participate virtually,” writes Latif Sim, Chief Strategy Officer at BeLive Technology

Whether it’s to see or feel products in person before making a buying decision or to connect with a real-life employee for service with a human touch, it’s clear that people still want the option of a brick-and-mortar storefront, even though e-commerce options are becoming increasingly convenient.

LegitScript Has Seen Nearly a 100% increase in New Applications for its Healthcare Merchant Certification Program Year Over Year

Polling over 1,000 businesses, the study found that US merchants dedicate 6 hours and 24 minutes weekly on manual admin tasks, 27 hours and 44 minutes per month, and 332 hours per year.

“Direct interaction leads to more informed purchases, as customers feel more confident asking questions and seeking clarification on products before buying, ultimately reducing the likelihood of returns,” writes Kenneth Tan, Co-Founder and CEO of BeLive Technology

Brands like Polestar, Vinted and Home Depot are changing how they manage their customer journey. What can leaders learn from this?

According to a 2023 report by CB Insights, global startup funding experienced a 34% decline from 2021 to 2022, largely attributed to a lack of market demand.