Monthly ecommerce #22
Welcome to the sizzling July edition of our monthly news digest, where we gather the juiciest, most scintillating stories from around the world to keep you informed!
As we dive into the heat of summer, we're here to serve up a refreshing blend of news, updates, and intriguing tidbits. So, kick back and get ready to embark on a thrilling journey, where you will discover the plans of Salesforce in AI revolution and ESG landscape, new payment feature from Shopify for non-Shopify users, how eBay supports entrepreneurs and which ecommerce platform The Royal Family prefers.
AI revolution: Salesforce and Deloitte transform CRM
Salesforce and Deloitte Digital have partnered to transform the global business scenery by offering an unrivaled portfolio of accelerators and methods they need for integrating AI in a customer relationship management (CRM) system. Companies will get a chance to effectively incorporate and grow Salesforce’s AI Cloud by utilizing Deloitte Digital's excellent AI capabilities, proficiency, and thorough grasp of privacy standards.
The importance of this partnership cannot be overstated—the efficient execution of AI in CRM is dependent on establishing confidence and guaranteeing data security. According to shocking results from current Salesforce investigations, 73% of staff members believe that AI can become a threat for our private data. Salesforce and Deloitte Digital are establishing the path for a new era of CRM driven by trustworthy AI by tackling these crucial problems head-on.
Under this groundbreaking cooperation, clients will be able to access to an array of invaluable resources, including:
1. AI for CRM deployment approaches: The credibility paradigm gives businesses a thorough strategy for using AI in CRM. The system handles critical issues such as safety, confidentiality, and regulatory needs, while also encouraging commitment and generating brand equity.
2. Industry-certain AI use cases: Deloitte Digital's AI preparation centers offer customized, immersive experiences for certain sectors. These labs act as incubators for investigating the tremendous potential of generative AI.
3. AI upskilling for CRM effectiveness: The Deloitte AI Academy aspires to further educate 10,000 professionals, fueled by an unwavering dedication to quality. The academy will help people to acquire and improve their abilities in generative AI for CRM through extensive instructions.
Corporations will have an unprecedented chance to tap into the revolutionary potential of AI in CRM by combining the knowledge and assets of Salesforce and Deloitte Digital. This partnership will not only transform client experiences, but will also fuel creativity, efficiency, and competitiveness in a world that is becoming increasingly digital.
Empowering startups: eBay and Techstars unite for ecommerce
eBay, the renowned marketplace for ecommerce, is collaborating with a prominent national pre-seed shareholder to unveil an exciting new venture: an acceleration initiative dedicated to fostering startups with an accent on ecommerce technology.
Techstars Future of Ecommerce fueled by eBay leverages Techstars' acclaimed accelerator model, which has already nurtured countless companies in their quest for innovation. What is the objective? To transform the ecommerce ecosystem, building a marketplace that is fair, and accessible to the participants.
The partnership between eBay and Techstars symbolizes a convergence of expertise and vision. With eBay's unparalleled knowledge and expertise as a trailblazer in the ecom realm, coupled with Techstars' robust design structure, funds, and extensive connections, this accelerator initiative promises an unmatched possibility for enterprising entrepreneurs.
In tandem, eBay and Techstars are about to erupt a new wave of creative thinking in the shopping sphere, championing the following generation of disruptors who will in a fast changing technological scenery, transform how people acquire and sell. This partnership holds the promise of a brighter and more inclusive future for ecommerce, where cutting-edge innovations and visionary entrepreneurs converge to make a significant difference.
Unveiling Shop Pay: revolutionizing checkout for global brands
Shopify is renowned for its ability to empower brands on the rise, challenge established conventions, and offer the globe's best purchasing experience. While their innovation has already revolutionized the operations of big companies, they are now expanding their offers to provide to the world's most well-known brands.
Shopify brings out Commerce Components, an initiative that permits commercial sellers the ability to use the same Shopify features that power 10% of online stores in the United States. This entails that regardless of their size, these retailers can leverage their cutting-edge technology and choose the pieces needed to create exceptional customer encounters.
But it isn't all. Shopify is excited to reveal its strongest component yet: Shop Pay. Since corporate merchants showed their enormous interest, Shopify is extending the opportunity for fast digital payment to those who are not on the Shopify platform. Shopify allows to improve customer experience without revamping their whole business system. This provides a unique access to a verified expedited checkout utilized by over 100 million high-intent, valuable purchasers for businesses all over the globe.
Shop Pay, which is operated by Shopify Payments, is showing an enhanced conversion rates by up to 50% as opposed to guest checkouts, outperforming other rapid checkouts by at least 10%.
So, what exactly makes Shop Pay so effective? Shopify's broad identification system, unrivaled scalability, confidence among customers, and unwavering development. When a Shop Pay account holder accesses any ecommerce website, Shopify identifies it in just one click. Most consumers can be identified without any extra activity if they have previously used Shop Pay. Due to this, Shop Pay is able to find all the data it needs to allow you to use one-click checkout which is far more convenient, since you do not have to worry about filling in your personal details as well as the credit card number.
Salesforce introduces the SASB report builder
Salesforce has recently introduced a new SASB Report Builder for Net Zero Cloud, an innovative technology designed to expedite the disclosure of essential data. This pioneering feature aligns with the standards set by the International Financial Reporting Standards (IFRS) Foundation, which prioritize the ESG issues that have the greatest impact on business profitability.
However, many companies consider ESG reporting to be a complex administrative undertaking, pointing out challenges such as unreliable and inconsistent data as well as the absence of universally recognized international reporting standards.
The International Sustainability Standards Board (ISSB) of the IFRS Foundation has introduced its first-ever standards to create a worldwide framework for reporting. To support compliance with these standards, the SASB Standards play a vital role. The SASB Report Builder, an essential component of the Net Zero Cloud Disclosure and Compliance Hub, offers an innovative approach by aligning environmental, social, and governance (ESG) topics with industry-specific guidelines provided by SASB. This enables organizations to assess, handle, and disclose industry-specific ESG data in a thorough and effective way.
1. Comprehensive industry coverage: The SASB Report Builder provides ESG reports for a wide range of industries, including consumer goods, finance, technology, and media. It covers 14 different sectors, ensuring that businesses across various industries have access to tailored ESG reporting.
2. Enhancing ESG reporting automation: By incorporating Salesforce's Automate ESG Reporting product, the SASB Report Builder enables businesses to effectively handle ESG data in real-time and produce reports that adhere to industry-specific standards. This integration streamlines the process, saving time and automating the complexities of ESG reporting, resulting in increased efficiency and a more user-friendly experience.
Net Zero Cloud utilizes cutting-edge artificial intelligence technology to deliver valuable insights, forecasts, and visual dashboards. This empowers companies to identify inefficiencies and take concrete steps towards implementing green initiatives. By leveraging this technology, businesses can make informed decisions and drive sustainable practices within their operations.
Salesforce is dedicated to redefining ESG reporting through the SASB Report Builder. With a comprehensive approach that addresses operational challenges, complies with global regulations, and utilizes modern technology, Salesforce equips enterprises with the necessary tools to thrive in an evolving ESG landscape. By collaborating, we can pave the way for a more sustainable future while simultaneously driving profitability.
If you need any help with aligning your Salesforce platform, check out our Salesforce consulting services.
The Royal Family crowns its ecomm strategy with Adobe Commerce
With a remarkable 241-year history, Asprey, often referred to as the 'Queen's gift shop,' boasts a prestigious heritage of offering a diverse range of products, from exquisite jewelry to luxurious leather goods and homeware. Traditionally, the retailer's esteemed customer base, including prominent members of the Royal Family since the time of Queen Victoria, preferred the in-store experience, displaying a limited level of digital adoption.
However, the pandemic has brought about a significant shift among older, high-net-worth individuals, leading them to embrace digital channels. Asprey has acknowledged this trend and is proactively enhancing its omnichannel experience to cater to the evolving preferences of its mature client base while also attracting new clientele.
Moreover, the role of the web as a research tool has influenced Asprey's approach to ecommerce. Even if buyers ultimately prefer the in-store shopping, they increasingly rely on online platforms for product exploration. To address these challenges, Asprey has turned to Adobe technology to revitalize its ecommerce site.
Asprey aims to replicate the immersive in-store ambience through its online content. The retailer has updated 1,500 products on its new site, featuring high-quality images and comprehensive details about the heritage and craftsmanship behind each item. After the reactivation of the site in March, Asprey has witnessed a remarkable 2.5x a rise in the average order value, a testament to the success of its digital transformation efforts.
To further streamline their operations, Asprey used Adobe Commerce, enabling the automation of key operations. Additionally, AEM Assets have played a crucial role by minimizing the requirement for unique product content production. This has resulted in a 400% decrease in the time and a notable 5x faster turnaround.
Furthermore, Adobe serves as the foundation for Asprey's innovative blockchain system. The retailer has embraced non-fungible tokens (NFTs) to establish value for select products.
Asprey's strategic adoption of Adobe technology exemplifies its commitment to delivering an exceptional digital experience while staying true to its rich heritage. The retailer's investment in innovative solutions underscores its expertise in leveraging cutting-edge tools to adapt and thrive in a rapidly evolving market.
Check more Adobe Commerce cases.