TLDR:
- Top venture capitalists predict that AI will drive improvements in sustainability, especially in the resale sector.
- AI-powered predictive intelligence will be crucial for marketers to scale marketing post-ATT.
- AI will address issues of stockouts and excess inventory in the retail industry.
- E-commerce brands will focus on owning customer relationships and leveraging first-party data.
- E-commerce curation tools and AI shopping apps will become popular in 2024.
- The global supply chain will see shifts, including diversification of production and competition between big box retailers and brand loyalty programs.
- AI will be used to augment the e-commerce tech stack, particularly in search functions.
- Downward pricing pressure and the application of AI are key trends in commerce for 2024.
Commerce is evolving rapidly, driven by geopolitical tensions, deglobalization, inflation, and the adoption of consumer-focused AI. Top venture capitalists predict that AI will drive sustainability improvements, particularly in the resale sector. This includes reducing unsold inventory, optimizing manufacturing processes and energy use, and improving resale inventory marketplaces. AI-powered predictive intelligence will be crucial for marketers to scale marketing post-ATT. Brands will need to harness AI to better target and engage with new customers. AI-driven planning, purchasing, and inventory optimization will address the persistent issues of stockouts and excess inventory. E-commerce brands will focus on owning their customer relationships and leveraging first-party data to drive sales. E-commerce curation tools, AI shopping apps, and user-generated content curation will be popular. The global supply chain will see shifts, including diversification of production, competition between big box retailers and brand loyalty programs, and the augmentation of the e-commerce tech stack with AI. Downward pricing pressure and the application of AI are key trends in commerce for 2024.
