News that caught our eye this month
October seems like the perfect time to add a little DeepMagic to your company and that’s exactly what Standard Cognition did earlier this month. Standard Cognition’s acquisition of DeepMagic will build up its automation capabilities with cashierless technologies. Installing cashierless technology into existing stores will help the company compete directly with Amazon Go and deliver the ultimate Halloween treat: increased profit margins!
Read more on TechCrunch
“Alexa, talk to me about your business model.”
Amazon continues to invest heavily in conversational commerce, announcing over a dozen new Alexa-powered products, but analysts and investors are unclear as to the financial benefits. While Amazon controls over 70% of the U.S. smart speaker market, one analyst referred to the company’s strategy as a “head-scratcher” and called out Alexa as lagging far behind the Google Assistant in answering commerce-related queries, and underperforming Apple’s Siri in overall performance.
Read more on CNBC
The Race for Space
Customer expectations around speedy online deliveries have driven warehouse space rent prices in major cities up by over 33% in the last five years. Smaller fulfillment centers that are close to customers that can support quick inventory turns seem to be the sweet spot.
Read more on PYMNTS
Changing of the Guard at SAP
After a decade in the CEO role at SAP, Bill McDermott has handed the reins of the company to two new co-CEOs while it is performing at maximum strength. Jennifer Morgan and Christian Klein have replaced McDermott, who will continue to serve as an advisor through 2019.
Read more on Bloomberg
The Buzz We Brought Home From B2B Next
The SMITH team was in its element mixing and mingling at this year’s B2B Next. If you couldn’t make it, here are just a few of the talks we were chatting about on the flight home from Chicago:
> Hewlett Packard Enterprise Co.’s ecommerce strategy for delivering a “no-touch” buying experience.
> Scot Wingo’s tips on understanding retail marketplaces to use them in a unique way to grow your B2B business.
> Gregor Ruthven’s take on “headless” commerce for B2B.
WHAT DO NEWS STORIES LIKE THESE MEAN FOR YOU AND YOUR BUSINESS?
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Read some of our related blog posts for more insight:
- Digital Transformation in the Grocery Aisle
- Conversational Commerce
- 8 Top Truths for Manufacturers
- The SMITH+SAP Partnership That’s Built For Your Business
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