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Weekly Round Off With HTE ✨
🌟 Hey there, dear readers! It's that time of the week again when we gather around to catch up on the latest and greatest in the Direct-to-Consumer (DTC) world. 🚀
So, let's get this party started! 🎉
Welcome back to another exciting edition of our DTC (Direct-to-Consumer) Insider newsletter. 📰 Our mission: to serve you the freshest news and insights straight from the heart of the DTC universe. 💡 With every update, we're arming you with the knowledge to be the smartest one in the room. 🤓
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🚀 Musk's xAI Set to Launch First AI Model to Select Group
🏬 Amazon Closing Brick-And-Mortar Apparel Stores
🚀New Startup Hopes To Tap Into Both The AI Boom And The Creator Economy
💰 Walmart Invests Over $500 M to Upgrade 117 Stores
🛍️ Retail Brands Usher In ‘black November’ As Holiday Sales Kick Off Early
Musk's xAI Set to Launch First AI Model to Select Group
4 November 2023, Reuters
Elon Musk's AI startup, xAI, is releasing its first AI model to a select group on Saturday. This follows the success of OpenAI's ChatGPT, which gained popularity and drove the adoption of generative AI technology. Musk, who co-founded OpenAI, praised xAI's new model, hailing it as one of the best available.
Once out of early beta, xAI's Grok system will be accessible to all X Premium+ subscribers. X (formerly Twitter) recently introduced subscription plans, including a $16 per month Premium+ tier and a $3 per month basic tier. Musk aims to create a maximum truth-seeking AI to compete with Google's Bard and Microsoft's Bing AI, focusing on understanding the universe's nature. xAI collaborates closely with Tesla and has signed a contract to train its AI model on Oracle's cloud.
Amazon Closing Brick-And-Mortar Apparel Stores
3 November 2023, Retail Dive
Amazon is closing its two Amazon Style brick-and-mortar stores to focus on its online fashion business. The closures will occur by November 9, with affected employees given alternative roles or provided with severance and career transition services. Amazon initially emphasized its commitment to physical retail with Amazon Style but is now shifting focus to grocery.
Critics found the technology at Amazon Style over-engineered and lacking a clear point of view, making it challenging to attract loyal customers. This represents a retreat from non-food physical retail, following last year's closure of Amazon Books and Amazon 4-Star shops.
Amazon continues to expand its fashion and beauty offerings, emphasizing tech enhancements like virtual try-on services and fit recommendations. The renewed focus on grocery aims to compete more effectively with mainstream grocers and build on its success in the grocery sector. 🔚👕🛒
New Startup Hopes To Tap Into Both The AI Boom And The Creator Economy
3 November 2023, DigiDay
Agentio, a startup co-founded by Arthur Leopold and Jonathan Meyers, uses large language models (LLMs) to help YouTubers sell ads and connect advertisers with the right content. 🤖📊 They automate the 30-second ad bidding process, offering transparency and consistent pricing across platforms. Agentio recently secured $4.25 million in funding from AlleyCorp and CraftVentures.
They analyze data from creators and brands using LLMs to facilitate efficient matchmaking. Agentio empowers creators and offers an independent platform for advertisers beyond Google and Meta. It charges a 20% fee based on an advertiser's media spend. 📊🤝
Agentio stands out with its focus on ads and creator efficiency, addressing underpayment concerns. 🚀💪 Using AI for creator-brand matchmaking is not new, but Agentio's unique bidding system and LLM-based analysis bring innovation. 🆕🔍 Social networks are also enhancing tools to connect advertisers with creators directly on their platforms, and Agentio competes in this evolving landscape. 🌟🔌
Walmart Invests Over $500 M to Upgrade 117 Stores
31 October 2023, Retail Dive
Walmart is reopening 117 stores across 30 states with a $500 million capital investment, part of a $9 billion plan to modernize 1,400 U.S. stores. Upgrades include improved layouts, broader product selections, and technological enhancements. Changes encompass interactive displays, larger pharmacies, nursing parent rooms, QR codes, 💻 digital screens, and a Dollar Shop at entrances.
Walmart is emphasizing the role of physical stores in its omnichannel strategy, focusing on 🌐 e-commerce, ⛓️ supply chain, and store improvements. This represents Walmart's largest single-day reopening effort, featuring expanded online grocery pickup areas, a grab-and-go section, refreshed exteriors and interiors, 🛒 more shopping carts, and a customer-driven checkout design.
These investments align with Walmart's commitment to local communities and job creation, given that nearly 90% of the U.S. population resides within 10 miles of a Walmart store. 🛒📈
Retail Brands Usher In ‘black November’ As Holiday Sales Kick Off Early
2 November 2023, Modern Retail
Retailers are extending Black Friday into "Black November" with early holiday sales. Walmart launched its Black Friday campaign featuring the cast of "Mean Girls" and begins deals on November 8. Many brands are following suit to boost Q4 revenue. Amazon's second Prime Day in mid-October contributes to this trend. Early sales attract customers and allow brands to push new products.
State Bags offers a 25% discount on November 16 and free bag embroidery on Black Friday weekend. Some companies offer early access to loyalty members, like Alo Yoga and Cole Haan. True Classic plans staggered sales throughout the month with up to 70% discounts on Black Friday. Brands anticipate surpassing past November revenue, staying flexible with real-time insights.
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As we wrap up this edition of our newsletter, we hope you found the blend of news and insights as invigorating as we did. The world of DTC and beyond continues to evolve, and staying informed is the key to success. Keep those entrepreneurial spirits high, and remember, we're here to keep you ahead of the game. 🚀🌟📰
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