To capitalize on change, companies must invest in sustainability, digitalization, and skills and talent. The retail and wholesale industry is a key economic sector in the European Union (EU). It comprises nearly five million enterprises, about one-fifth of all companies registered in the EU. Collectively, these companies meet roughly one-third of total household consumption needs in the EU, generating annual revenue close to €7 trillion.

Generative AI is poised to unleash the next wave of productivity. We take a first look at where business value could accrue and the potential impacts on the workforce. AI has permeated our lives incrementally, through everything from the tech powering our smartphones to autonomous-driving features on cars to the tools retailers use to surprise and delight consumers. As a result, its progress has been almost imperceptible. Clear milestones, such as when AlphaGo, an AI-based program developed by DeepMind, defeated a world champion Go player in 2016, were celebrated but then quickly faded from the public’s consciousness.

The Financial Stability Board (FSB) today published its inaugural annual report on KPIs for meeting the targets for cross-border payments. This report is complementary and provides a quantitative and qualitative overview about the challenges facing cross-border payments, the progress being made on the G20’s priority actions, and public and private sector projects underway globally to enhance cross-border payments.

Shein is arguably one of the most controversial companies in the world. Beloved by Gen Z, the Singapore-based apparel company nonetheless has faced allegations of forced labor,copyright infringement, and using unsafe levels of toxic chemicals in its products. As recently as August, 16 US attorneys general sent a letter to SEC Chair Gary Gensler asking that he make sure Shein will independently verify that it does not use forced labor before approving its US IPO.It’s also still recovering from a PR disaster after it sent fashion influencers to a model factory in China, which some saw as downplaying concerns about working conditions.

A new EU policy on price transparency is shaking up how retailers display and manage their pricing and promotion strategies. Download our latest whitepaper, written in partnership with law firm DLA Piper, to learn when and how the law needs to be applied.

Read the ebook to learn:

• The impact of the EU Price Indication Directive for retailers

• How to implement lowest prior prices on your website

Well-known brands such as Google, Apple, Uber, Nike and Amazon didn’t become extraordinary by accident. It’s taken a strategy and an approach that too many emerging or challenger eCommerce brands try to bypass in their desire to experience rapid growth.

Extraordinary brands require an extraordinary growth framework. And the most effective frameworks involve four major things: extraordinary marketing, optimization, intradepartmental workflows and analytics.

On 28 June 2023, the EU Commission presented proposals for a Payment Services Directive 3 (“PSD3“) and a Payment Services Regulation (“PSR“). Whilst we have already positioned PSD3 and PSR within the existing regulatory framework in our article “The new EU payment service regulation – Kick-off of our PSD3 series” of 3 July 2023, we will now provide a brief overview of the main content of PSD3 and PSR as well as major innovations compared to PSD2 and the E-Money Directive.

Your loyalty program gives you the unique opportunity to directly reward your members for interacting with your brand; however, not all loyalty programs effectively engage and reward their members. All too often, loyalty programs miss key moments to connect with their members.

You should be consistently proving to your customers that engaging with your brand is valuable at every touch. To action this goal, you must first discover what drives your customers’ motivation and understand what they find most gratifying.