Everyone is now trying to hop on the e-commerce train, with buyers like fast food chains and clothing brands trying to up their game by buying up artificial intelligence software that analyzes consumer data.
The reason behind this is attributed to the desire to round out their retailing network by increasing their speed in analyzing consumer data to improve their marketing and ad targeting, resulting in an increase in sales.
The motivations behind these new acquisitions reflect companies’ desire to be in greater control of technologies and capabilities that are usually handled by third parties. This could be attributed to Google’s announcement to remove third-party cookies. As a result, companies are trying to develop their first-party data collection before anyone else.
Most suspect that these new acquisitions in e-commerce are attributed to the pandemic. However, the move to bring products directly to consumers has been in talks long before the pandemic hit. The pandemic was just the push needed to have this ball rolling.