PR Newswire | January 10, 2024
Alibaba.com, a leading platform for global business-to-business (B2B) e-commerce and part of Alibaba International Digital Commerce Group (AIDC), will launch its latest Smart Assistant features powered by artificial intelligence (AI) at CES in Las Vegas, NV from January 9-12, 2024. The Smart Assistant, an AI-powered global sourcing tool, caters to both newcomers and seasoned entrepreneurs in the dynamic world of global commerce.
As a one-stop B2B sourcing platform, Alibaba.com remains committed to delivering innovative solutions to help buyers and suppliers streamline operations to more efficiently reach their goals and continue to grow. The Smart Assistant updates unveiled at CES will help business owners adeptly enhance their supply chain and solve complex sourcing needs and challenges as they seek to stand out in today's competitive marketplace.
"Today's small businesses face a variety of headwinds, but with the right technology and support, they can feel confident that they will overcome obstacles and help their business thrive, which is why we're expanding the features of our new Smart Assistant tool to better serve today's entrepreneurs," said Chris Lu, General Manager at Alibaba.com North America. "With advances in AI, we are ushering in the next generation of sourcing and empowering small businesses to succeed with our Smart Assistant at their side."
The Smart Assistant: Shaping the Future of Sourcing
Alibaba.com developed the Smart Assistant as an AI-powered, intuitive personal guide to sourcing that helps small business owners discover new opportunities, stay up-to-date on trends, seamlessly track orders and more in a single, efficient touchpoint.
First announced at CES and coming soon to the Alibaba.com Smart Assistant is the Instant Help feature, which leverages an AI-powered chatbot to answer basic inquiries and offer real-time insights and resources, regardless of time zones or language barriers. The Instant Help feature provides buyers with essential knowledge and industry insights about a variety of verticals and product types, as well as offer tips to elevate their communications with suppliers. It will help ensure small businesses can increase efficiency, purchase smart and keep up with trends by leveraging AI to increase competitive advantages.
Since their launch in September 2023, the first two features of the Smart Assistant – Upgraded Image Search and Smart Request for Quotation (RFQ) – have already provided significant benefit to entrepreneurs using the Alibaba.com desktop platform. Based on Alibaba.com's internal study since September 2023, buyers using the Upgraded Image Search have seen a 28% higher deal closing rate than those only using traditional text search. Buyers who used the Smart RFQ tool saw 29% more quotes from suppliers, while suppliers saw a 21% increase in buyer responses to quotes as compared to the original RFQ process.
"Developed from buyer-supplier feedback and embedded with profound industry knowledge, we are excited to demonstrate how the Smart Assistant rapidly and accurately produces product requests and images aligning with buyer needs," Lu said. "Smart Assistant helps buyers embrace their creativity, improve the efficiency of matching buyers and sellers, while making sourcing more accessible for all."
Alibaba.com will provide a showcase of Smart Assistant features at their booth on Wednesday, January 10, 2024 at 11:00 AM PT, hosted by smart sourcing expert Stella Shenshen. The Alibaba.com booth is located at the Las Vegas Convention Center's Tech East in the AI and Robotics section in North Hall's Grand Lobby on level 1, Booth 9017.
Visitors to the booth will also have the opportunity to network and connect with 20 top-rated suppliers in-person, personally experiencing the ways Alibaba.com offers buyers advanced sourcing solutions and AI-powered tools to take their business to the next level.
Tech and AI Power the Future of Businesses, E-commerce and Sourcing
In addition to announcing new Smart Assistant features at CES, Alibaba.com leadership will discuss the evolution of e-commerce and sourcing, as well as how sourcing has been influenced and improved by AI and other technological innovations.
Going "Entreprenuts" to Support Small Business Innovation
To complement its presence at CES, Alibaba.com is also debuting a new campaign celebrating entrepreneurial spirit and innovation. The Entreprenuts campaign highlights how entrepreneurs are willing to bet big, as well as maintain persistence and boundless creativity, against daunting odds. In other words, they can go a little "entreprenuts" to achieve their dreams and create new products – just like the products showcased each year at CES.
Throughout the Entreprenuts campaign, which will run from January 8 through February 8, 2024, Alibaba.com will encourage buyers to share stories of their craziest entrepreneurial moments, utilizing the most "nuts'' stories in a video highlight to showcase what it means to be an Entreprenut. Buyers can also earn their Entreprenut badge and profile by answering a questionnaire that will determine their unique Entreprenut characteristic. At the end of each quiz, buyers will be provided with exclusive tools and services to help them achieve their goals as they kickstart 2024.
"This campaign demonstrates Alibaba.com's continued support of small and medium-sized businesses in the United States and helping them realize their entrepreneurial dreams and push beyond what others might believe possible," said Rah Mahtani, Head of Marketing for North America at Alibaba.com. "As buyers share their experiences, Alibaba.com will offer innovative new resources and products to help these 'Entreprenuts' succeed on their journey."
The campaign debuts at a key crossroads for small business owners. The US has seen a surge in the number of newly registered businesses, which hit record highs in both 2021 (5.4 million) and 2022 (5.1 million). Sadly, 20% of these new businesses face failure within the first two years, and a staggering 45% of startups do not surpass the five-year mark due to challenges such as market volatility, supply chain disruption, shifting consumer demands, and inventory management. This makes the tools and capabilities Alibaba.com offers, which are designed to help entrepreneurs level up their sourcing and supply chain operations in the increasingly competitive small business arena, more valuable than ever.
Launched in 1999, Alibaba.com is a leading platform for global business-to-business (B2B) e-commerce that serves buyers and suppliers from over 200 countries and regions around the world. It is engaged in services covering all aspects of commerce, including providing businesses with tools that help them reach a global audience for their products and helping buyers discover products, find suppliers and place orders online fast and efficiently. Alibaba.com is part of Alibaba International Digital Commerce Group.
PR Newswire | January 12, 2024
Rokt, the leading ecommerce technology company using machine learning and AI to make transactions more relevant to each shopper, today announced it has agreed to acquire AfterSell, a Shopify and Shopify Plus partner that helps ecommerce merchants upsell and cross-sell. Through the acquisition, Rokt will strengthen its SMB offering and expand its client portfolio to more than 20,000 SMB merchants, while giving them access to the same network and powerful AI technology built for large enterprises. The transaction is expected to close by February 1, 2024. Terms of the deal were not disclosed.
The acquisition will build on Rokt's own Shopify app, Rokt Ecommerce, which leading merchants such as BlendJet and True Classic use to unlock additional revenue and provide a more relevant shopping experience to their customers. Rokt Ecommerce optimizes the checkout process, from the cart to confirmation page, and deepens brands' customer relationships by presenting highly relevant offers to each shopper during the transaction moment.
AfterSell enables Shopify merchants to increase sales with personalized cart, checkout and post-purchase upsells. Brands including Good American, KitchenAid, HexClad, Miami Heat and Bloom Nutrition use AfterSell to increase AOV and customer retention. The AfterSell product offering also includes UpCart, a fully featured cart drawer specifically designed to increase AOV and reduce cart abandonment. Rokt will further invest in its SMB Shopify offering by combining the complete capabilities of AfterSell and UpCart with the existing Rokt Shopify app to build a more robust product for merchants. AfterSell was co-founded by Armon Shokravi, Dhruv Patel, Landon Fuhr and Varun Kundra in 2019.
"AfterSell has built a brilliant roster of SMB clients on Shopify and has garnered hundreds of five-star reviews from merchants, which is a testament to how well it delivers," said Bruce Buchanan, CEO of Rokt. "This acquisition strengthens our competitive advantage by enabling us to better serve SMB customers and provide access to advertisers that aren't typically available to them. We're also thrilled to bring the AfterSell team's knowledge and expertise into our organization."
This acquisition provides more tools to Rokt Shopify app users to enhance their customers' shopping experiences while boosting revenue. Additionally, Rokt Shopify users can now look forward to enhanced assistance from AfterSell's Canada-based team, which Rokt plans to grow significantly in 2024 and beyond.
Rokt's exclusive, closed marketplace leverages intelligence powered by more than 5 billion transactions across hundreds of leading ecommerce businesses, allowing merchants to create a seamless customer experience while also controlling the types of offers eligible to be displayed to their customers.
The acquisition news follows a year of significant growth and new initiatives for Rokt, including a partnership with Formula 1's 2023 championship team, Oracle Red Bull Racing, as well as several key appointments to its executive leadership team, including Chief Product Officer Srishti Gupta and Chief Marketing Officer Doug Rozen.
Rokt is the global leader in ecommerce technology, enabling companies to drive incremental value from every transaction by unlocking relevant messages at the moment customers are most likely to convert. Rokt's machine learning platform, built over the last 10 years, and scaled network powers billions of global transactions annually for the world's leading companies, including Live Nation, AMC Theatres, PayPal, Uber, Hulu, Staples, GoPuff, Lands' End, and HelloFresh. Headquartered in New York City, the company operates in 15 countries across North America, Europe and the Asia-Pacific region and has been recognized as one of the fastest-growing private companies in the US by Inc. for the last three years in a row.
MARKETING AND NETWORKING
MyTradeZone | January 10, 2024
Innovative platform bridges current gaps, combining robust business tools for enhanced B2B engagement and collaboration
Las Vegas, Nev., Jan. 10, 2024– Shattering barriers in B2B communication, MyTradeZone.com recently revealed its unique social networking platform dedicated solely for businesses. MyTradeZone serves as a central hub for businesses to find, connect with, and engage potential clients, partners, and vendors worldwide – allowing companies to post products and services, request quotes, create and join networking groups, and much more.
MyTradeZone was founded by CEO, Bachir Kassir, a serial entrepreneur with over 20 years’ experience in the software and B2B industry who has recently successfully sold his B2B Ecommerce platform venture, WebJaguar, to QAD – a Thoma Bravo portfolio company.
“MyTradeZone offers a specialized platform designed to innovate B2B interactions,” said Kassir. “We know that 40% of B2B marketing budgets are spent on trade shows and that over 95% of marketers use social media content in their campaigns. So why is there no social network specifically dedicated to B2B trade? Well, now there is one.”
MyTradeZone: Platform Highlights
On MyTradeZone, each business can both market its products/services and source what it needs, all within the same platform. MyTradeZone facilitates the entire process, presenting a thriving ecosystem for businesses, professionals, organizations, groups, and creators who can now spend time networking, while also fostering the connections that increase their reach, influence, and overall profits.
MyTradeZone is a perfect lead generation and highly targeted advertising venue since advertisers can pinpoint exact audiences, making highly specific advertisements that are cost efficient. Major platform features include:
Tailored B2B Search Capabilities: Facilitates a seamless discovery of businesses, products, RFQs, groups, and more.
Advanced Networking Tools: From permanent company profiles to real-time video chat, the platform caters to a variety of business needs.
Peer-to-Peer Payment Options: Ensuring smooth transactions with payments powered by Stripe.
Innovative Ad Space: Sponsored and displayed ads provide businesses with a medium to amplify their brand presence.
Tradeshow and Networking Events: Organizers can amplify the benefits for attendees, exhibitors, and sponsors – providing a secure networking group to connect beyond the actual event.
Expanding Horizons: MyTradeZone Powers Community and Monetization
Beyond businesses, MyTradeZone extends its utility to trade associations, networking groups, and event organizers by allowing them to build, manage, and monetize their online communities. Professionals and creators can actively grow their networks and monetize their skills through peer-to-peer payments.
“Our platform is more than just a supplementary tool. It revolutionizes the traditional event experience by enhancing networking, engagement, and business growth opportunities in both a broad and narrow sense. Instead of merely relying on physical connections, MyTradeZone transforms singular events into sustained, ever-evolving networking connections.”
To celebrate the official launch, MyTradeZone seeks to partner with trade shows, event and networking groups organizers, and trade associations – offering their members exclusive offers to premium membership via the platform. MyTradeZone’s basic edition is always free and signing up is quick, taking only few minutes to join.
Inquire further at: email@example.com And for news on future platform updates and promotions, follow MyTradeZone on LinkedIn or on the B2B social network: https://mytradezone.com/profile/mytradezone
MyTradeZone is led by a highly skilled and talented team of employees and advisors who are working on the next thing to disrupt business networking. MyTradeZone is a forward-thinking B2B technology company reshaping how businesses connect and engage online through its advanced social networking platform in an industry-specific ecosystem for business collaboration, knowledge sharing, and growth. Learn more at: www.MyTradeZone.com.
Bachir Kassir, Founder