Commerce chronicles: May 12, 2024

Keen offers a lifetime guarantee for Targhee, TalkShopLive and Rolling Stone partner for shoppable simulcast and Etsy leverages a new machine learning model.

In this week’s news, Keen announces a lifetime guarantee on fan-favorite footwear, watch and shop live during an interview with Kate Hudson and a new report finds wholesale the most profitable investment channel for brands. Plus, Info-Tech Research Group talks AI and Etsy aims for accurate delivery times. Visit our blog every Monday for a roundup of the latest commerce news.

Recent report finds wholesale is most profitable investment channel for brands

In the new NuOrder “2024 State of B2B Commerce Report,” wholesale remains the primary revenue source for brands, constituting 60% of total company sales, particularly for Enterprise brands with over $50M in annual revenue.¹ Brands are increasingly investing in wholesale over direct-to-consumer (DTC) channels, relying heavily on marketing automation to acquire new retail partnerships and deepen existing accounts. While operational challenges like supply chain and inventory management were previously dominant, brands now prioritize expanding their wholesale businesses. Key challenges include finding new retailers and enhancing the buying experience for existing partners. Businesses are enhancing digital maturity, utilizing data and technology to optimize sales strategy and distribution. Many brands integrate ERP systems bidirectionally to improve visibility and access to sales data, yet desire more accurate real-time reporting tools.

Footwear brand Keen offers lifetime guarantee on fan-favorite hiking boot

KEEN introduces the Targhee IV hiking boot, boasting an industry-first Delamination-Free Lifetime Guarantee, combating planned obsolescence and solidifying KEEN's commitment to sustainability.² The boot's innovative construction method, KEEN.FUSION, eliminates traditional delamination issues by fusing the sole and upper using heat and pressure. This groundbreaking approach is backed by a lifetime guarantee, ensuring shoe bonds remain intact. According to Keen’s press release, “in KEEN's "Test Lab," the Targhee IV did not break down after 1000 miles of use or after KEEN's "pull machine" attempted to force the shoe apart.” The company's environmental ethos is further exemplified by the boot's longevity, achieved through LUFTCELL technology, abrasion-resistant outsoles and environmentally preferred leather. The boot's attributes, including shock-absorbing cushioning, waterproof protection and pesticide-free odor control, cater to outdoor enthusiasts' needs. Targhee IV helps KEEN continue its mission as a purpose-driven shoemaker, committed to crafting durable, sustainable footwear with a positive impact on people and the planet.

TalkShopLive, Rolling Stone and Kate Hudson partner for shoppable simulcast interview

TalkShopLive, a leading video commerce and retail media platform, has joined forces with Rolling Stone for a groundbreaking collaboration.³ The partnership features a special living room concert hosted by Kate Hudson, marking TalkShopLive's inaugural collaboration with the iconic magazine. Viewers can tune in at 8 p.m. Eastern on May 17 to watch the shoppable simulcast interview and concert, accessible via various platforms including Instagram, Facebook, RollingStone.com and TalkShopLive's Content Distribution Network. During the event, Hudson will offer autographed CDs, Vinyl, and album-themed merchandise from her debut album, "Glorious," which she announced last month.

“Rolling Stone is the authority on music and entertainment features, and we are thrilled to partner with them for this special livestream concert by the incredible Kate Hudson," says TalkShopLive Co-Founder and CEO Bryan Moore. "We've built our platform for media moments just like this, where consumers can engage in premium video content accompanied with a frictionless shopping experience. This event, using our Shoppable Simulcast feature, further proves why talent, brands, publishers and retailers use TalkShopLive to reach as many customers as possible across a multitude of destinations."

The event showcases TalkShopLive's innovative Shoppable Simulcast feature, allowing sellers to stream to multiple destinations simultaneously, including Instagram and Facebook. Recognized for its innovation, TalkShopLive attracts top celebrities, publishers and brands, offering a frictionless buying experience and proprietary multi-embed point of sale technology. Retail giants like Walmart and Target, as well as publishing giants Conde Nast and Hearst, have leveraged TalkShopLive's platform for shoppable livestreams, along with superstar talent such as Oprah Winfrey and Jennifer Lopez.

Info-Tech Research Group releases strategies to improve customer experience using AI in retail marketing

The introduction of generative AI (Gen AI) is revolutionizing marketing strategies, particularly in retail. As digital transformation reshapes market dynamics, Gen AI offers unprecedented levels of personalization and efficiency in content creation and customer engagement. Info-Tech Research Group's blueprint, "Integrated Marketing With Generative AI," equips retail marketers with insights on leveraging Gen AI to optimize digital marketing campaigns.⁴ "Gen AI is a mindset that is reshaping the retail marketing landscape," says Donnafay MacDonald, research director at Info-Tech Research Group. "Customers are savvier and are looking for personalized experiences. Retailers that are employing AI tools to customize the retail experience and engage with their customers across multiple touchpoints are seeing measurable positive results through improved ROI and overall reduced costs across the organization. To stay competitive and boost customer engagement, it is imperative that retailers adopt a Gen AI mindset by integrating the tools necessary across their retail marketing ecosystem."

Automation and precision can help marketers navigate the complexities of the digital marketplace and ensure more targeted interactions and improved ROI. Despite challenges in identifying practical applications, the competitive retail market demands the swift deployment of reliable Gen AI solutions to streamline content generation, refine targeting strategies and improve marketing efficacy across channels. The integration of Gen AI promises elevated brand perception, customized transactions, advanced customer insights, marketing innovation and improved customer service delivery. Retail marketers can anticipate customer needs, deliver personalized experiences and maintain a competitive edge in the evolving digital economy by embracing Gen AI.

Etsy aims for accurate delivery times with new machine learning model

Etsy's fulfillment team launched a new machine learning model, resulting in more precise delivery dates for shoppers, CEO Josh Silverman announced in a May 1 earnings call.⁵ This initiative significantly reduced estimated transit times with the U.S. Postal Service, allowing Etsy to nearly triple the percentage of eligible orders with an estimated delivery date of seven days or less. Etsy aims to improve buyer perceptions of reliability and drive growth in gross merchandise sales with tighter delivery date estimates. This progress aligns with Etsy's ongoing efforts to improve delivery reliability, evidenced by increased listings with expected delivery dates and enhanced tracking information for domestic orders over $10. Silverman emphasized the need to disrupt buyer perceptions further to stimulate more purchases, expressing confidence in the platform's potential to shorten shipping times by at least two days this year, ultimately overcoming barriers to shopping on Etsy and revitalizing gross merchandise sales. “We now need buyers to understand all the progress we’ve made, and we can continue to do better, make delivery windows shorter without losing the special nature of Etsy,” Silverman said.