Morning Brew - ☕ AI for an AI

The importance of AI in luxury resale.
September 10, 2024

Retail Brew

Listrak

It’s Tuesday, and we’re happy to report that, seven years after it was discontinued, the printed J.Crew catalog is being resurrected. The catalog, which features Demi Moore on the cover, will begin shipping later this month. If you don’t mind us saying so, what would really pull that outfit you’re wearing together is a barn jacket.

In today’s edition:

—Jeena Sharma, Alex Vuocolo, Kristen Parisi

E-COMMERCE

AI luxury resale

Smartphone displaying TikTok Shop. Future Publishing/Getty Images

As demand for luxury resale continues to grow, so does the tech to authenticate the products.

In 2023, the luxury resale market was estimated to be valued at ~$50 billion. The usual—and established—suspects at the forefront of the market include The RealReal and Vestiaire Collective, among others.

Each of the platforms guarantees they are dedicated to providing quality and more importantly, authentic products. But we know from experience, that’s always easier said than done. Even industry veteran The RealReal has come under fire from customers for fake products.

Enter: Entrupy, an AI-powered luxury authentication platform that leverages computer vision to identify counterfeits. Founded in 2016, the platform has raised millions of $$ and is quickly gaining prominence among retailers, and online resellers. It currently also has an ongoing partnership with TikTok Shop as the official authentication provider of pre-owned luxury handbags and sneakers for the platform.

Keep reading here.—JS

   

PRESENTED BY LISTRAK

Integration for more information

Listrak

Ever feel like you’re always on the hunt for more information? Listrak gets it. So they enhanced their existing integration with Shopify to ensure marketers have access to more data, analytics, and tools to drive meaningful outcomes.

Here’s the quick deets on the Listrak x Shopify integration, which:

  • provides marketers with supercharged cross-channel personalization and automation
  • empowers marketers with the tools to enrich and augment their first-party customer data
  • enables marketers to deliver new enhanced levels of personalization, segmentation, and automation across email, mobile, and push marketing channels

If your brand is on Shopify, you’re already halfway down the path to taking advantage of the ultimate marketing powerhouse. With Listrak x Shopify, you can prepare for what’s next in e-commerce by taking advantage of frictionless, real-time sharing of actionable data.

Read all about it.

STORES

Failure to launch

Francesco Carta Fotografo/Getty Images Francesco Carta Fotografo/Getty Images

A lack of integrated data sources is hampering the adoption of AI technologies, argues a new report from Coresight Research.

The retail- and technology-focused research firm makes the case that most retailers currently separate data by function, such as marketing, demand forecasting, merchandising, and pricing, which may be leaving them at a disadvantage in a rapidly changing marketplace.

“Organizations with siloed data management practices will lag in responding to market changes and customer needs, putting them at a competitive disadvantage,” the report says.

Keep reading here.—AV

   

LABOR

Buy DE&I

An Amazon office. Artur Widak/NurPhoto via Getty Images

While some US employers, including Brown-Forman, Ford, and Lowe’s, have signaled a retreat from DE&I in recent weeks, Amazon appears to be quietly pushing ahead with its commitments.

The company released an equity audit the Friday before Labor Day, two years after it commissioned the law firm Paul, Weiss, Rifkind, Wharton, and Garrison (Paul, Weiss) to conduct it, without a formal press announcement or accompanying social media posts.

Keep reading here on HR Brew.—KP

   

TOGETHER WITH EKO

Eko

Your BFCM BFF. Gearing up to convert curious shoppers into loyal customers this holiday season? Eko’s Guide to Product Storytelling is here to help. It’s got actionable tips for how to create compelling product narratives that help your brand cut through the clutter during Black Friday Cyber Monday and beyond. Get your guide.

SWAPPING SKUS

Today’s top retail reads.

Apple turnover: Apple introduced a new iPhone and new versions of the Apple Watch and AirPods. (Reuters)

Tied up in Lots: Big Lots filed for Chapter 11 bankruptcy protection, blaming inflation and interest rates. (the Associated Press)

Four the record: Givenchy hired Sarah Burton, the former head of design for Alexander McQueen, as its next creative director. (the Wall Street Journal)

Dig into data: Thanks to the enhanced Listrak x Shopify integration, you can now access frictionless, real-time sharing of actionable data. Get supercharged cross-channel personalization and automation. Learn more about this integration.*

*A message from our sponsor.

JOBS

Stop waiting for your dream job to find you. CollabWORK puts you in front of the right opportunities in the online spaces you frequent. Get discovered by top companies and take control of your career path.

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