Firework lights the way to US live shopping growth

Author

Stephen Babcock
February 17, 2023

The daily current header

Inside the beauty company L'Oréal, there’s a team of more than 2,000 technologists working on new tools to apply cosmetics, and digital capabilities to help brands reach a wider audience. With ecommerce accounting for 28% of the business, the company is taking a “multipolar” approach that will involve more owned-and-operated stores, as well as expansion to new ecommerce channels.

A new alliance between OpenAI and Bain & Co. to help marketers use the AI services ChatGPT and DALL·E for ad copy, targeted messaging and imagery. Coca-Cola is the first brand to sign on, with OpenAI’s Zack Kass calling it “the most ambitious we have seen of any consumer products company.”

The luxury department store is laying off about 5% of its workforce, joining a host of other retailers making job cuts as inflation eats into discretionary spending. At the same time, Bergdorf Goodman President Darcy Penick will assume technology and product leadership.

U.S. egrocery sales ticked down to start the year, driven by a big decline in ship-to-home sales. Brick Meets Click said a big gap in repeat purchase intent for shoppers at mass retailers like Walmart and grocery stores was a warning sign for conventional grocers.

Here’s news to watch from Europe: Amazon is moving to source 1P goods directly from brands as it continues to rein in costs. In doing so, it is ending relationships with the distributors who buy inventory from brands, and sell it to Amazon. This comes as Amazon is introducing more automation to its vendor management experience. – CNBC

Tweet of the Day 🐦

Were you forwarded this email by a friend or colleague?