US

Best Buy Leverages AI for Personalized Customer Experiences

Best Buy is launching new strategies to revitalize sales and enhance customer experience through AI and innovative technologies. The partnership with Google Cloud aims to provide personalized tech support, including a generative AI virtual assistant for self-service options. The retailer is also introducing new app features like a personalized homepage, a “Discover” tab, video shopping experiences, and enhanced push notifications. Best Buy plans to roll out over 500 new videos focused on innovations, product tips, and buying guides by the end of the year. The company also introduced a new holographic spokesperson, Gram, as part of a refreshed brand campaign for the back-to-school season.

Globe

China-US Shipping Volume Increases Amid Economic Tensions

Despite ongoing economic decoupling efforts, container shipping from China to the US saw a 16% year-over-year increase in June, marking the tenth consecutive month of growth. Factors include early holiday preparations and a potential rush to ship goods ahead of possible tariff changes post-US elections. Notably, automobile-related products and textiles showed significant growth. Experts attribute the resilience to flexible supply-demand dynamics between the two economies, with China-made goods remaining popular among US consumers.

Amazon Italy Faces Legal Issues Over Tax Fraud Allegations

Italian authorities have seized €121 million from Amazon’s Italian subsidiary, accusing it of tax fraud and labor law violations. The Milan prosecutor’s office claims Amazon Italia Transport hid the true nature of its relationship with delivery personnel employed by subcontractors, avoiding VAT and social security payments. Amazon denied the allegations, stating it complies with local laws and maintains high standards with partners. This is part of a broader scrutiny of major logistics companies in Italy, including recent actions against UPS and DHL.

Walmex Reports Strong Q2 Performance: Increased Sales and E-commerce Expansion

Walmex, the Mexican and Central American division of Walmart, reported a 9.3% increase in net profit for Q2, reaching 12.51 billion pesos (approximately $684.12 million), with a 6.4% rise in revenue to 225.75 billion pesos. This growth is attributed to higher sales and increased store traffic, with Mexican same-store sales up by 5.5% and Central American sales rising by 2.6%. The new CEO, Ignacio Caride, emphasized a focus on omnichannel capabilities, automation, and digital transformation. E-commerce accounted for about 8% of total sales, with mobile service users doubling to 13.7 million. Walmex plans significant investments in Guatemala and Costa Rica, amounting to $1.3 billion over 5 years.

TikTok Expands E-commerce Presence in Europe

TikTok plans to launch its in-app shopping platform, TikTok Shop, in Spain and Ireland by October, resuming its European expansion. The initiative includes recruiting a local team and preparing for a broader rollout across Europe in 2025. This follows a previous announcement to delay the expansion to focus on the US market. TikTok Shop aims to support businesses of all sizes, leveraging the platform’s community to promote products.

Meta Fined in Nigeria Over WhatsApp Privacy Policy Violations

Nigeria’s Federal Competition and Consumer Protection Commission fined Meta $2.2 billion for allegedly violating local data and privacy laws through WhatsApp’s privacy policy. The commission accused Meta of abusing consumer data, implementing exploitative practices, and failing to comply with Nigerian regulations. Meta, which plans to appeal the decision, has faced similar regulatory challenges globally, including in Brazil and Europe, over its data handling practices. The fines reflect increasing global scrutiny of digital platforms regarding data protection and privacy issues.

Uruguay Sees Surge in International Online Shopping

Uruguay’s customs data revealed a significant increase in international parcel deliveries, with over 300,000 packages received in the first half of 2024, the highest in 5 years. The surge is partly due to reduced shopping trips to Argentina, driven by currency value changes. The average monthly transaction volume reached 50,683, with a peak in June at 60,017. Key items include tech products and apparel, with the rise attributed to platforms like Temu and stable exchange rates. This trend reflects a broader shift in consumer behavior towards online shopping in Uruguay.