Shopping Tools in Focus for Amazon and Walmart
Amazon is rolling out a feature to connect consumers to more of the goods they like.
Artificial intelligence-powered Interests provides shopping guidance and product recommendations, according to a Tuesday (March 25) press release.
“With Interests, you can create personalized shopping prompts tailored to your interests, price limits and preferences, from mainstream to niche, using everyday language,” the release said. “…Once you’ve created your prompt, Interests will do the work for you, continuously scanning Amazon’s store and proactively notifying you about newly available and relevant products, restocks and deals that align with your interests.
Interests is available to a small group of U.S. Amazon app and mobile website users, but the company plans to launch it for all U.S. customers in the coming months, per the release.
Other AI customer tools from Amazon aimed at enhancing the shopping experience include Rufus, AI Shopping Guides and review highlights.
Meanwhile, chief competitor Walmart is accenting the convenience of its one-click ordering, same-day pickup and Express Delivery options to tie in with Easter holiday-related specials.
“From budget-friendly baskets to an Easter meal priced even lower than last year at less than $6 per person, Walmart has something fun and festive for everybunny,” according to a Wednesday (March 26) press release.
Here are other highlights from Amazon and Walmart this week.
- Amazon Continues Its Crackdown on Counterfeits
Last year, Amazon seized more than 15 million counterfeit products and used AI tools to block most suspected infringements before brands needed to report them. These AI tools have decreased infringement notices submitted by brands by 35% since 2020. Amazon has also either pursued litigation or referrals to law enforcement against more than 24,000 counterfeiters since 2020.
- Amazon Fights CPSC Recall Ruling
Amazon is suing the U.S. Consumer Product Safety Commission (CPSC) over a ruling holding the company responsible for product recalls of items sold on its site by third parties. Amazon said it’s a third-party logistics provider, not a distributor. In its lawsuit, the company accused the regulator of being unconstitutionally structured, aligning with the Department of Justice’s withdrawn support of the independent status of CPSC.
- Walmart Marketplace Sellers Now Have Embedded Finance
J.P. Morgan Chase and Walmart launched an embedded finance solution for Walmart Marketplace sellers, enabling them to manage payments and cash flow directly within the platform. It’s available in the U.S. and may expand to Europe and other markets. The move seems to keep pace with the trend of embedded finance in marketplace innovation strategies, as these features can improve trust, sales conversions and B2B integrations.
- Tariffs Cause Pricing Friction for Walmart Suppliers
To avoid raising prices for consumers and losing market share, Walmart is in negotiations with its suppliers. It could be an uphill battle because of tariffs that would potentially increase costs for suppliers. The outcome of these negotiations will decide when prices on products go up — and by how much — and could even determine which merchandise Walmart chooses to keep in stock.
- New Walmart Adventures in the Metaverse
Walmart is partnering with Minecraft, launching an interactive gaming experience called Skyward. Players explore different planets to search for the “Golden Child.” In addition, Walmart is offering Minecraft-themed merchandise online. The move builds on Walmart’s investment in metaverse customer experiences, connecting the physical and digital realms.
The post Shopping Tools in Focus for Amazon and Walmart appeared first on PYMNTS.com.