Front and Center
The Future of Luxury E-commerce
In a joint press release on Wednesday, two mega corporations from distinctly seperate industries announced a first-of-its-kind strategic partnership that may define the future of luxury e-commerce.
French luxury goods giant, LVMH, has entered into a 5-year deal with Google Cloud to leverage artificial intelligence and machine learning technologies to sell products for their elite brands like Louis Vitton, Christian Dior, Tiffany, Marc Jacobs, and top-shelf alcohol brands like Moët and Hennessy.
Will this make it more affordable?
HAHAHAHA. HAHAHA. LOL. Good one, no. But the AI will be used to collect customer data and deliver personalized experiences to their high-end customers when they shop online. Not only that, the technology will also be used to update their IT infrastructure, improve their demand forecasting, and optimize their inventory management across stores.
Take a page out of their golden book.
This partnership brings new-age data analytics capabilities to a historically white-glove, high-touch market. The pandemic-fueled lockdowns have accelerated the need for luxury brands to execute their e-commerce shopping model and help their consumers adapt to changes; for instance, not being able to touch and see their high-priced items before they buy.
LVMH Managing Director Anonio Belloni said, “The last 18 months have been transformational,” and made clear the “need to leverage data.” The goal is to make a customer’s experience “more fluid.”
Without this sort of in-person interaction and added customer service, luxury brands must compensate with a smooth and considerate online retail experience. This includes making sure the logistics and supply chain consistently and reliably pulls through on delivery.
Back of the Packet
This week, both the Senate and the House passed a bill that would make Juneteenth (AKA Freadom Day) a national holiday, and now just needs one more signature from the President. This holiday commemorates the day in 1865 when slavery officially ended in the US, and would be the first federal holiday added to the US calendar since 1983. Many organizations like Mastercard, the NFL, and others have embraced the holiday by giving employees the day off.
A Peloton of Creepers
On Wednesdaya, McAfee warned that the Peloton Bike+, along with other public bikes in gyms and hotels, could be compromised with a USB to allow hackers access to forward-facing cameras. All hackers need is physical access to the bike to install fake Netflix or Spotify apps. Peloton then issued a software update and press release to prevent this type of unauthorized access, but if anyone wants to actually watch me sweat/cry/spin to Adele, I’ll allow it.
Generally Electric Motors
General Motors announced increases to its electric and autonomous spending to $35B by 2025, a 30% increase from targets announced last November.
Convenience Vs. Carbon
Expedited shipping and last mile delivery grew with the pandemic-led convenience craze. Now that consumers are returning their focus to sustainability, brands and 3PLs must balance convenience vs. carbon footprint. But how? The answer… read our latest blog to discover why carbon-neutral shipping is changing the e-commerce industry, and how your brand can offer it today.
How E-Commerce Brands Thrive In the Chinese Market
Despite China’s developing economy and huge population, their market is notoriously difficult for foreign businesses to survive, particularly those with a physical presence. Popular companies like Walmart, Home Depot, and Mattel have tried and failed to create a steady business in China, due to conflicts with the government, failing to understand their customers, or just bad luck. With 48% of foreign businesses failing in China within their first two years, these tips might save your business when entering the Far East markets.