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Partnering with OpenAI on a ChatGPT plugin that gives users personalized shopping recommendations could help Klarna boost customer satisfaction and retention. Klarna is also milking opportunities to use AI to strengthen its brand and woo investors.

It partnered with OpenAI on a ChatGPT plugin to offer users personalized shopping recommendations.

The trend: Luxury companies are snapping up real estate in premium shopping corridors worldwide as they look to upgrade their shopping experiences and gain an edge over competitors. Kering paid 鈧�1.3 billion ($1.4 billion) last week for a building located on Milan鈥檚 tony Via Montenapoleone, the second-most-expensive retail corridor in the world.

The card network launched an account owner verification tool in Europe and partnered with Algoan to boost financial inclusion

Meta will allow European Facebook and Instagram users to opt out of personalized ads, but it鈥檚 making it a difficult process.. Substack is inviting its creators to become investors in the newsletter service, raising money via community investment platform Wefunder amid a challenging funding environment.

The European Securities and Markets Authority (ESMA) just said European banks can use genAI, but warned that they鈥檙e responsible for any fallout resulting from its use. Until President Biden鈥檚 AI executive order, AI was largely a regulatory gray area in the US. Now the US Treasury Department has requested information on how FIs use AI, which is likely to inform future rules or regulations.

European countries tend to be more open to government intervention on public health issues. Countries in Asia, like Singapore, have also embraced advertising restrictions as part of broader health initiatives. While ad bans can influence behavior, their effectiveness depends on broader policy approaches and cultural contexts. 鈥淚t鈥檚 complicated,鈥� Cramer-Flood said.

There鈥檚 still time for retailers to compete with Amazon for the next wave of ecommerce growth, but they need to act fast. This year, Amazon will control 16.8% of total online food and beverage sales and 30.5% of health, personal care, and beauty sales, per our forecast. That鈥檚 significant.

We talk about e-commerce a lot on this podcast and in general, which makes sense. E-Commerce is making up an increasing share of retail sales at 16% this year and 20% by the end of 2028 according to our forecast. But that still leaves at least 80% of sales, US sales specifically taking place in stores, which might be why we're seeing so many stores launch new formats.

TikTok aims to quadruple the size of its global ecommerce business in 2023. But TikTok Shop鈥檚 US rollout has been complicated鈥攁nd that could have implications for the company鈥檚 aggressive goal.

Social media, ecommerce, and search remain the only routes to elite status in digital ad publishing. ByteDance, Microsoft, and Tencent crossed the $10 billion threshold already, and Kuaishou, Apple, JD.com, and Baidu will join the ranks over the next year or two.

The boom times for ecommerce and retail have largely passed. 鈥淚t鈥檚 going to be harder [for retailers] to identify pockets of growth and opportunity. But, the good news is that it鈥檚 not going to be that roller coaster of demand fluctuations that has been challenging for retailers to navigate over the last couple of years,鈥� our analyst Blake Droesch said.

Tinuiti reported that in the second half of the first quarter, Amazon's share of Google Shopping impressions rose an average of 20 points compared with a year earlier, while Walmart鈥檚 share slipped.

Along with digital upgrades, banks must improve the customer experience with relevant products and services.

Ecommerce players should prepare for volatility to continue, especially in categories where cost and timing are critical to conversion and customer satisfaction. Retailers that can pivot quickly, diversify fulfillment hubs, or highlight locally made products will be better positioned to absorb shocks.

Consumers are pulling back: UK consumers鈥� shopping behaviors have changed. Eighty-four percent of UK shoppers planned to buy fewer holiday gifts this year, per a September 2022 YouGov study. A separate survey by Barclaycard found 59% planned to spend less on gifts for family and friends.

The modern word of mouth: Some 45% of US beauty shoppers have discovered new beauty products through social media, according to Tinuiti, beating out TV at 30% and in-store displays at 25%. TikTok is democratizing the influencer game. 鈥淲hat TikTok does really nicely is peer-to-peer marketing.

The solution: UK-based fintech Sprive is one alternative that helps users overpay their mortgages using automation and shopping-based cashback rewards. It links to a user鈥檚 bank account and uses spare cash from everyday purchases to make mortgage overpayments automatically鈥攚hich Sprive claims can save customers 拢10,000 ($13,000) over the lifetime of their mortgages.