The perfect combination of low-cost products, free and fast shipping, and personalized purchase recommendations have helped Temu to successfully replicate the meteoric growth of its sister app, Pinduoduo, in overseas markets.

There’s a lot on the line when it comes to effectively gauging POS ROI. Determining placement and investment tops the list, so knowing how much to spend and where it should go is key.

To remain competitive in today’s market, retailers must prioritize productivity – an area in which AI excels. However, AI’s strength is built on leveraging data. To get the best value out of their deployment, retailers must ensure the information they use is accurate and reliable.

To capitalize on this spend-happy consumer demographic, retailers are investing in AI (70%), social media ads (39%), influencer marketing campaigns (35%), email marketing (33%), and SEO (29%)

40% of consumers now use AI regularly to help with their online shopping, with close to one in five using it as their primary source of information. This is a remarkable change in consumer behavior and one that requires a rapid response from marketing teams.

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.