Starbucks is seeing its artificial intelligence data efforts boost its rewards program effectiveness, incentivizing consumers to spend more and visit more often. On a conference call Tuesday (Jan. 30) accompanying the coffeehouse giant’s first-quarter fiscal 2024 earnings report, CEO Laxman Narasimhan discussed the company’s successful...
Walmart is expanding its use of augmented and virtual reality technology to include eyewear. The world’s largest retailer’s new offering, announced Tuesday (Jan. 30), comes at a time when consumers are seeking virtual reality (VR) experiences that mirror brick-and-mortar shopping. Walmart already uses augmented reality (AR) and...
Online business review forum Yelp has added more (artificial intelligence) AI-powered search tools. “For years, we’ve leveraged AI to help reduce consumers’ decision paralysis — from spotlighting the most popular dishes and drinks, to using LLMs (large language models) to power review highlights for more nuanced searches,”...
Kore.ai has raised $150 million to develop its conversational/generative artificial intelligence platform technology. The funding round, announced Tuesday (Jan. 30), was led by FTV Capital and included a contribution from chip maker Nvidia. The Orlando, Florida-based company said it will use the funds to expand the use...
As direct-to-consumer brands look to drive customer acquisition, high earners are their best customers. By the Numbers The PYMNTS Intelligence report “The Online Features Driving Consumers to Shop With Brands, Retailers or Marketplaces” drew from a survey of more than 3,500 U.S. consumers in October...
Warsaw-based retail startup ZeroQs has reportedly secured 457,000 euros (about $496,000) in funding from Freya Capital. The firm will use the new funding to further develop its smart shopping cart technology and expand its market presence, EU Startups reported Tuesday (Jan. 30). “We plan full-scale implementations in retail chains both...
As grocers increasingly turn to artificial intelligence to boost efficiency, Too Good to Go’s new platform aims to improve food management, boosting grocers’ profit margins. Chris MacAulay, the company’s U.S. managing director, told PYMNTS in an interview that the new AI platform makes recommendations to...
Lost in the supermarket? Walmart says it has a solution. Look for the blinking light. The retail giant has begun testing digital labels that — after being activated by an app — light up to help shoppers find the products they are looking for within Walmart’s gargantuan stores, Bloomberg...
H&M announced on Friday (Jan. 26) its plan to close down more than 20% of its stores in Spain and lay off up to 588 employees. The company cited unspecified organizational, productive and economic reasons. The move comes in response to competition from Inditex, owner of...
