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

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

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.

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 UK鈥檚 ecommerce habits make it a prime testing ground for TikTok鈥檚 shopping tools. The UK is much closer to China in terms of ecommerce sales as a proportion of total retail. It places second by this measure, at 32.0%, behind China鈥檚 45.9% and well ahead of the US鈥檚 15.6%, per our forecast. And TikTok is banking on this translating into comfort with social buying.

A DIY-focused campaign is already a perfect match for social and influencer marketing. 31% of US consumers say they take DIY and home hack suggestions from influencers on TikTok Shop, per a February 2024 PartnerCentric study. 18% of US and UK consumers say DIY is their favorite influencer marketing topic, per a February 2024 SproutSocial study.

This year, TikTok will pull in 22 times the ad revenues of fellow fast-grower Mercado Libre ($1.02 billion), but Latin America鈥檚 largest ecommerce retailer will rapidly ascend the advertising ranks in the coming years. Click here to view our full forecast for digital ad revenue growth by company worldwide. Amazon will get a growth boost from its OTT video service.

The European Commission (EC) is studying its investigations into Apple, Google, and Meta under its Digital Markets Act (DMA) and could redouble efforts to regulate or fine companies, per Reuters. The US Federal Trade Commission (FTC) and Department of Justice (DOJ) reducing antitrust regulation could provoke foreign regulators to take a tougher stance on Big Tech giants.

According to a Numerator survey, only 9.4% of US consumers expect tariffs to have no impact on their shopping habits, while many plan to adjust by hunting for sales or coupons (41.4%), buying fewer imported goods (30.5%), or delaying purchases (22.3%).

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.

The complaint was filed Thursday with the European Commission (EC) and the European Network of Consumer Authorities and cited cases in which gamers are led to spending real money on in-game currency for games they already owned. Key stat: In-game purchases accounted for 43% of PC and console revenues in 2023, per NewZoo, with gamers spending $50 billion annually.

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.

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.

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

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 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.

Farmers in rural areas and emerging countries are often financially underserved. That鈥檚 where fintechs can make their next move.

There are few other events that bring together as many of the world鈥檚 top CMOs as Cannes Lions, providing ample opportunity for tech, social, and ecommerce firms to mingle with and pitch their growing (or struggling) ad businesses to the C-Suite. Amazon arrived at Cannes in full force in 2022, and this year will be no different.

In today鈥檚 episode, host Bill Fisher is joined by Paul Briggs, Man-Chung Cheung, and Carina Perkins to discuss the longevity of subscription services and loyalty programs from both a client and corporate perspective. How many subscriptions can people afford, and how much can companies afford to give away as part of their loyalty programs?