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43% of Gen Z Chooses Brands Over Marketplaces đź‘€
According to the report, 43% of Gen Z shoppers prefer purchasing directly from brands, compared to older generations who prioritize price and favor online marketplaces. For 15% of Gen Z consumers, trust is the main reason they choose brand websites over third-party platforms.
35% of Shoppers Leave After... đź’ł
Check out this week's insights on eCommerce trends, including how 35% of shoppers abandon their carts after a card decline, and discover how Puma is leveraging Google Cloud's generative AI to boost CTRs. Plus, learn about AI emotion detection transforming customer experiences and TrueLayer's latest funding to expand pay-by-bank solutions for eCommerce. Dive in for strategies that can help SMBs thrive in an omnichannel world!
Inflation Fatigue 🤯
Online holiday spending is expected to rise by 7% this year, according to Signifyd’s Holiday Ecommerce Pulse projection. Shoppers are set to boost Cyber Five sales—from Thanksgiving to Cyber Monday—by 8% over last year, with total Q4 sales also climbing by 7%.
Washington vs eCommerce ⚔️
The Biden administration announced Friday, September 13, plans to revise trade rules to address abuses by Chinese-founded eCommerce platforms. The changes focus on the de minimis exception, which allows products valued at $800 or less to enter the U.S. without duties or taxes.
California’s AI Safety Bill 🟢
California's new AI safety bill, Senate Bill 1047, could reshape the AI development landscape. The bill, which awaits Gov. Gavin Newsom's signature, introduces strict safety testing for AI models costing over $100 million or requiring substantial computing power.