Retail Giants Debut Cutting-Edge Tech at CES
In a display of technological prowess, Walmart and Amazon showcased their latest advancements at the Consumer Electronics Show (CES) in Las Vegas. Both companies are using innovative strategies, partnerships, and technologies to enhance their consumer offerings, setting the stage for a fierce competition in the retail sector.
Amazon’s Strategic Shift with Job Cuts and Project Terminations
Amazon has announced significant job cuts within its Prime Video and Amazon MGM Studios organization, a decision resulting from a year-long business review. The company is also discontinuing several projects initiated under former CEO Jeff Bezos, including divisions responsible for Alexa and Amazon Music. The live-streaming service Twitch is preparing for a 35% reduction in its workforce. These strategic moves signify Amazon’s focus on prioritizing impactful initiatives and strengthening its business foundations.
Walmart’s Expansion and AI Investment
Contrasting Amazon’s approach, Walmart is expanding its physical presence and investing in new technologies. The retailer is opening new stores and remodeling existing ones, enhancing the in-store shopping experience. Walmart is also boosting its eCommerce capabilities to compete in the online marketplace. Investments in artificial intelligence (AI) and robotics aim to increase operational efficiency and improve customer service.
Amazon Integrates Buy With Prime and Salesforce Commerce
Amazon’s recent integration of Buy With Prime with Salesforce Commerce Cloud marks a significant development. This collaboration enhances the shopping experience for Salesforce merchants and attracts Prime members to their platforms. Merchants can now utilize Amazon’s payment and fulfillment services directly on their websites, expanding Amazon’s reach and offering an improved shopping experience.
Walmart and Amazon’s Healthcare Ambitions
Both retail giants are venturing into the healthcare domain. Amazon has acquired One Medical to provide discounted healthcare services to Prime members, while Walmart plans to open 75 health centers by 2025, offering a range of services. They are both employing digital solutions to provide affordable healthcare products and services.
Embracing AI for Enhanced Shopping Experiences
Walmart is incorporating generative AI into its digital platform, allowing customers to receive personalized recommendations. This move transforms Walmart into a ‘customer concierge’, offering curated shopping experiences with the help of AI and augmented reality (AR). The My Assistant app, an AI-powered tool, is another innovation assisting non-store associates.
Amazon, keeping pace, utilizes AI models from Microsoft’s Azure OpenAI Service for a personalized shopping experience. The company also introduced Matter Casting, allowing users to cast content to Fire TV and Echo Show devices, a first in the industry according to Amazon. This development was part of several new offerings unveiled at CES.
