You Want That Gift to Arrive Today? This Is What It Takes.
Consumers want their goods, and they want them now! 2024 brought new delivery options from big box retailers with many adopting same-day delivery. This New York Times article by retail reporter Jordyn Holman explores the evolving expectations of consumers who are relishing in the convenience of quick delivery and the brands that are capitalizing on this acquired taste to, you guessed it, make more money. Holman follows the journey of her Amazon purchase through facilities, same-day centers and the dreaded ‘last-mile,’ investigating the many hurdles the retailer must overcome to bring you your heart’s desire.
Takeaways
The rapidly growing expectation of same-day delivery forces us to ask questions about how brands are responding to customer demands, and how it’s shaping commerce as a result. Something as mundane as running to the store to pick up tinfoil, or even asking your neighbor for the classic cup of sugar, is being replaced by a shopping experience completed from your couch. Does this all-too-convenient option promote a sense of indulgence among consumers that will lead to real-life disconnection and a further immersion in digital life? While same-day shipping certainly has its perks for many (notably immunocompromised consumers or busy parents) I can’t help but wonder if a digital only experience will also harm retailers in the long run, taking away from the in-person experience which often leads to additional purchases or the discovery of new products. If you can order everything online quickly, does it really matter whether I buy from Target or Walmart? Online, I’ll always go for the cheaper option. However, when I visit a store in-person, Target is my preference (and I’ll likely buy more than I came for, per usual). Though this might seem like a simple and natural evolution of an increasingly connected world, it’s important we watch this industry closely and have conversations about the long term affects that this shift could have not only on retailers’ profitability, but on how we buy and interact as consumers.
TikTok or QVC? How Media Consumption is Becoming a Shopping Experience
TikTok’s Black Friday sales reveal a rising trend in how consumers discover and purchase products. The reigning host of the “doom scroll,” TikTok, reported $100 million in Black Friday sales, driven by 30,000 livestream shopping sessions.
Live shopping is described as a way to link up socializing, entertainment, and shopping successfully. QVC customers relished interacting and shopping with their favorite hosts.
Live shopping, a format already thriving in Chinese markets, has helped Douyin become China’s most popular video-sharing platform and a leader in the e-commerce space. TikTok aims to replicate this success by leveraging live streaming to introduce customers to new products and strengthen connections between established brands and their audiences. This approach positions TikTok as a key player in how video content drives the e-commerce economy.
Takeaways
In the past, consumers had to manually browse TV channels to find a live shopping channel aligned with their preferences. Today, product streamers and influencers are seamlessly delivered to your feed through algorithms that know exactly what you are or could be on the market for. The dynamic has shifted, it’s not just about influencers showcasing products but about creators authentically championing items they genuinely believe in. This conviction resonates deeply with audiences, driving meaningful engagement and impact. While the live-streaming boom has introduced consumers to new brands, it’s also unlocked an exciting opportunity for businesses. Brands (big or small) and entrepreneurs can tap into this format to reach audiences in ways that weren’t possible before. What’s unique here is the scope of work. Stepping into the ‘booth’ (the space where products are showcased) during streams requires a hands-on, interactive approach, vastly different from the static strategies of paid ads, print, or traditional commercials. Its format offers visibility and a deeper connection with consumers, making it a game-changer worth exploring. On the flip side, I can’t help but wonder if the media we consume increasingly revolves around the products we buy. Could film and television eventually give way to stories centered on brands and their users? Consumer culture is everywhere, and it looks like it’s about to claim our attention much like live TV once did.
Bezos Throws Nearly $700M Bet Behind RISC-V AI Chipmaker
This past week, articles trickled in reporting on Jeff Bezos and his ~$700M investment in Tenstorrent as part of his move to compete in the AI chip race. He joins tech giant Samsung, VC firm AFW Partners, and others in a rather large funding round for Tenstorrent to accelerate its RISC-V (pronounced “risk-five”) architecture for AI workloads. Despite only securing $150M in signed deals so far, the chipmaker holds a $2.6B valuation. The new funds will be used to develop software stacks, hire developers, scale global development and design facilities, and establish architectures for developers.
Takeaways
All right, let’s nerd out a bit and bear with me.
At its core, RISC-V is an instruction set architecture (ISA) – a blueprint that tells processors how to process data and execute instructions. It is increasingly being used in embedded systems (IoT, sensors), consumer tech (smartphones, tablets, wearables, etc.), data centers (server processors), high performance computing and artificial intelligence and machine learning accelerators. Unlike proprietary ISAs, RISC-V is completely open source, meaning anyone can use it, tweak it, or build on it without shelling out a lot of money for licenses.
Seeing RISC-V in the news is exciting for a few reasons. First, the emerging technology makes hardware more accessible, which could lead to cheaper consumer tech devices hitting the market – whether it’s smartphones, laptops, or other tech gadgets. Imagine an AI-powered medical device built on RISC-V for remote monitoring that doesn’t cost an arm and a leg and could be used in the long run to solve one of the world’s rarest diseases. Second, RISC-V has the potential to empower developing countries that have traditionally felt the effects of the digital divide to innovate without capital. Imagine universities in these regions that can design processors for local needs, from sustainable energy management to agriculture tech.
So, in short, RISC-V is posed to be a game-changer in the world of tech: it’s fun, flexible, and it’s opening doors for communities that were previously locked out of the tech revolution. It’s like giving everyone the chance to build their rocket – without charging them for the instructions.
Photo from Siemens
Want more updates like these? Follow us on LinkedIn, X and Instagram for our weekly rundown.
