US

TikTok’s Potential Prohibition Sparks Concern Among Retailers

According to a study by First Insight, 68% of US retailers believe a potential TikTok prohibition could negatively impact their businesses, yet only 28% have contingency plans. With 81% of retailers currently using TikTok for sales, many face challenges like stock shortages due to unpredictable demand spikes. Consumers, on the other hand, are heavily reliant on TikTok for holiday shopping inspiration, with 73% planning to use the platform for this purpose. In response to a possible prohibition, 82% of retailers plan to increase ad spending on Facebook, while Instagram also emerges as a key alternative.

TikTok Introduces Personalized AI Voice Feature

TikTok has launched a new feature that allows users to create AI-generated versions of their voices for video narration. This feature, which takes just 10 seconds to generate, offers users a personalized alternative to TikTok’s standard voice templates. The AI voices are private, and users can delete them at any time. Additionally, these voices can be translated into other languages, enhancing the flexibility of content creation. This innovation marks TikTok’s continued efforts to provide more personalized and versatile tools for creators.

BNPL Gaining Popularity During Major Shopping Events

A recent PYMNTS report highlights the increasing use of Buy Now, Pay Later (BNPL) services during Amazon Prime Day and Walmart+ Week. This year, 5.2% of Amazon Prime Day shoppers used BNPL, up from 3.3% last year, while Walmart+ Week saw an even higher rate of 7.2%. The service is particularly popular among economically constrained consumers, with 12% of Amazon Prime Day shoppers in financial difficulty using BNPL, nearly double last year’s 6.4%. As BNPL continues to grow in popularity, it underscores the importance of offering flexible payment options to meet diverse consumer needs.

Globe

SHEIN Expands Half-Managed Model to Europe

SHEIN has extended its half-managed model to 5 European countries—Germany, the UK, France, Italy, and Spain—aiming to boost sales for Chinese sellers with local stock and fulfillment capabilities. Following the success of this model in the US, SHEIN is leveraging Europe’s diverse and prosperous market, which is projected to reach $950 billion by 2028. With over 450 million monthly users in the EU, SHEIN’s strategic move targets high-demand markets where it already holds a leading position in the fashion and home appliance sectors. The expansion underscores the importance of Europe as a key growth region for cross-border e-commerce.

Older Consumers Drive Mexico’s E-commerce Growth

A study by Porter Novelli reveals that consumers aged 55 and above are increasingly active in Mexico’s e-commerce market, with 86% having shopped online. Popular platforms for this demographic include Mercado Libre, eBay, Amazon, and AliExpress. The most purchased items are glasses, headphones, furniture, electronics, and jewelry. Free shipping is the top priority for 70% of these shoppers, followed by a simple purchase process and fast delivery. Social media also plays a significant role, with Facebook being the most favored platform among older consumers.

Japan’s E-commerce Trends Highlight Growing Interest in the Metaverse

Yahoo Shopping Japan reports a significant increase in sales of VR headsets, reflecting a growing interest in the metaverse among Japanese consumers. The sales of these devices have surged by 5.2 times compared to the previous year. Other trends include a 10-fold increase in sales of electric scooters and rising demand for men’s and Korean cosmetics. Emergency supplies have also seen a 2.5-fold increase in sales, driven by the frequent occurrence of earthquakes. The most popular products in various categories include ZAO SODA sparkling water, Dyson vacuum cleaners, and Dickies work pants.

Poland’s E-commerce Market Poised for Growth

The Polish e-commerce market is projected to reach 192 billion PLN by 2028, growing at an annual rate of 8%. Currently, electronics, home appliances, and fashion dominate the market, accounting for 60% of its value. However, the grocery sector shows the most significant growth potential, with an expected annual growth rate of 12% from 2024 to 2028. The popularity of fast fashion is also driving a 10% growth in the fashion category. Poland’s internet penetration rate is 88%, with an e-commerce penetration of 73%, indicating a rapidly evolving market with increasing online shopping frequency.

Amazon India Tests AI Shopping Assistant Rufus

Amazon India has launched a beta version of its generative AI shopping assistant, Rufus, aimed at enhancing the shopping experience by simplifying product searches and recommendations. Available on the Amazon.in mobile app, Rufus can answer customer queries, compare product features, and offer personalized shopping advice. The assistant is designed to help users make informed purchase decisions by providing detailed information on various product categories and recommending new products based on the latest trends. Amazon plans to gradually roll out Rufus to more users in the coming weeks.

AI

NVIDIA Launches AI Workflows for Enterprise Applications

NVIDIA has introduced a series of pre-trained, customizable AI workflows, known as NIM Agent Blueprints, designed to help organizations quickly develop generative AI applications. These workflows are tailored for enterprise use cases, such as customer service avatars, PDF extraction for retrieval-augmented generation (RAG), and drug discovery virtual screening. Built using NVIDIA’s NeMo platform and NIM microservices, these workflows allow businesses to customize and deploy AI applications across data centers, clouds, and workstations. The launch is supported by global partners like Accenture, Cisco, Dell Technologies, and Hewlett Packard Enterprise, who will integrate these workflows into their generative AI offerings, helping clients accelerate AI-driven innovation.

Generative AI Adoption Reaches Critical Phase, Deloitte Report Finds

A recent Deloitte report highlights that businesses are significantly increasing their investment in generative AI, driven by the potential for improved efficiency, productivity, and innovation. However, despite 68% of organizations engaging in generative AI projects, most are still in the early stages, with only 30% or fewer of their experiments fully operational. The report underscores that while AI promises transformational benefits, challenges such as data management, scaling, and risk are tempering enthusiasm. As organizations move forward, demonstrating tangible value to leadership will be crucial to securing continued investment in generative AI.

AI Coding Tools Enhance Developer Productivity and Collaboration

A new study by GitHub reveals that AI coding tools are increasingly recognized by software development teams for their ability to boost productivity and collaboration. Surveying 2,000 developers across the US, Brazil, Germany, and India, the research found that over 97% of respondents have used AI coding tools, with significant improvements reported in code quality, security, and the ability to quickly adopt new programming languages. These tools are also helping developers generate better test cases and deliver more secure software. As AI becomes more integrated into software development, it is clear that these tools are facilitating a more efficient and collaborative coding environment.

California Passes AI Safety Bill Amidst Divided Opinions

California’s Legislature has passed Senate Bill 1047, known as the Safe and Secure Innovation for Frontier Artificial Intelligence Models Act, which is now awaiting Governor Gavin Newsom’s decision. The bill, spearheaded by State Senator Scott Wiener, aims to regulate AI development by requiring companies to implement safety measures, such as the ability to shut down AI models. The legislation has garnered support from figures like Elon Musk and AI pioneers Geoffrey Hinton and Yousua Bengio, who advocate for AI regulation. However, it has faced opposition from tech industry leaders, including Nancy Pelosi and OpenAI, who argue that the bill may hinder innovation. Newsom has until September 30 to sign or veto the bill.