Retailers Report AI-Driven Sales and Bigger Baskets in Q2 Earnings
It’s early for artificial intelligence shopping tools, but the results are already showing up in bigger orders and more spending, and major retailers said so this earnings season. Walmart’s global eCommerce grew 23% in the quarter, according to earnings results released Thursday (Aug. 20). Shoppers using Walmart’s AI assistant, Sparky, spend 40% more per order, […] The post Retailers Report…
This earnings season, major retailers have reported the benefits of artificial intelligence in their sales. Walmart's global eCommerce grew 23% in the quarter, with AI assistant Sparky leading to 40% more spending per order. Amazon saw similar results after merging its AI tools into Alexa for Shopping, with 350 million users spending 40% more.
Target's external AI partnerships are growing digital traffic at a rate three and a half times faster than the industry average. All these retailers have seen increased spending per order, but the categories are mostly groceries and household staples, where demand prediction is easier. For other categories where shoppers browse and discover, AI's impact is yet to be proven.
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