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APPLE AI LAUNCH FACES ‘DIFFICULT AND LONG PROCESS’ IN CHINA

By PYMNTS  |  November 26, 2024
 | 



Apple is reportedly facing hurdles in bringing its AI-powered iPhone to China. 

Government officials there say foreign tech companies will have to undergo a
“difficult and long process” to gain approval unless they work with local
groups, the Financial Times (FT) reported Tuesday (Nov. 26).

These comments from the Beijing government, the report notes, come as Apple CEO
Tim Cook visits China for the third time this year as the company tries to
untangle the country’s thorny regulations and bring its artificial intelligence
(AI) offering — dubbed Apple Intelligence — to devices sold there.

According to the report, Apple has held discussions with Chinese tech firms to
help launch Apple Intelligence, which the company began adding to American
iPhones and other devices last month.

Sources told the FT that Apple has also considered running its own AI large
language models (LLMs) in China.

However, a leading official at the Cyberspace Administration of China said it
would be a comparatively “simple and straightforward approval process” for
outside companies to use already-approved LLMs from Chinese tech firms.

In other AI news, PYMNTS wrote recently about efforts by tech companies to
capture mainstream users hoping to use AI for everyday tasks on their phones,
following Google’s quiet rollout of its Gemini iPhone app.

As that report noted, this accelerating competition in consumer AI apps suggests
a high-stakes battle for consumer attention and wallets as companies scramble to
transform casual users into paying subscribers via features such as chatbots,
photo editing and writing assistance.

“One good thing about AI-powered apps is their ability to create personalized
experiences,” said Dmytro Tymoshenko, the CEO of Noiz, which creates AI-powered
summaries of YouTube videos. “AI is able to analyze data at a very high speed,
which allows it to, for instance, recommend content based on user preferences
quite fast.”

Meanwhile, PYMNTS wrote earlier this year the way about AI — and integration
into social media — could impact the Chinese digital economy.

With companies such as Baidu, Tencent, ByteDance and Alibaba racing to leverage
LLMs and generative AI (GenAI), experts say the trend could reshape commerce and
consumer behavior in the world’s second-largest economy.

“AI may become the lifeblood of their ecosystems,” Lars Nyman, chief marketing
officer at CUDO Compute, told PYMNTS. “AI’s ability to analyze vast amounts of
data in real-time allows for hyper-personalized ad targeting. For instance,
WeChat’s AI can predict what you might want to buy before you even know you want
it.”




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NORDSTROM’S DIGITAL SALES AND ENHANCED CUSTOMER EXPERIENCE DRIVE GROWTH IN Q3

By PYMNTS  |  November 26, 2024
 | 



While digital sales continued to perform well at Nordstrom, enhancements to the
overall customer experience paid off as well, according to CEO Erik Nordstrom.

“In the third quarter, our efforts to enhance the customer experience continued
to resonate, enabling growth in net and comparable sales, margin expansion, and
an increase in our customer base,” Nordstrom said during the
company’s third-quarter earnings call Tuesday (Nov. 26).

“Both Nordstrom and Nordstrom Rack delivered 4% comparable sales growth. We’re
particularly encouraged that our online business sustained its momentum, with
digital sales growth of over 6%. Customers responded to newness in our selection
of the brands that matter most to them, driving positive total company net sales
growth for the fourth consecutive quarter.”

The third quarter showed improved spend across all income cohorts, Nordstrom
said, adding “customer health metrics look good. Customer trips and average
order per trip improved across both banners.”

CFO Cathy Smith praised the customer metrics for the third quarter.

“Our efforts to improve the customer experience are taking hold, as evidenced by
the strength of our top line,” she explained. “In the third quarter, we again
grew our customer count, reported an increase in customer trips, and expanded
our margins.”

Digital sales grew 6.4% in the third quarter, representing the sixth consecutive
quarter of sequential improvement, and 34% of total sales during the quarter.
Nordstrom’s net sales increased 4.6%, to $3.34 billion, while total company
comparable sales rose 4%.

The growth of Nordstrom’s digital business is a testament to the retailer’s
focus on enhancing its customer experience. Nordstrom has also made key
investments in its digital platforms, such as enhancing its website and app to
improve the customer experience. Erik Nordstrom emphasized the importance of
aligning business strategies with customer preferences.

“As an omnichannel retailer, we have to be prepared to serve customers when,
where, and how they want to shop, and service is always our No. 1 priority,” he
said. “Our customers define what good service is. … For our customers that
prefer to shop online, we aim to make the experience seamless and engaging
through technology.”

Operational optimization is another priority for Nordstrom as it seeks to
maintain its momentum. Improvements in the supply chain have not only helped
reduce operating expenses but have also increased the speed of order
fulfillment.

“Faster fulfillment and delivery of items drove an over 40% improvement in the
speed of customer returns in the third quarter,” Nordstrom said. “Returns that
come in faster mean that we can process, inspect, and get the items back into
our inventory in a sellable condition in less time, increasing the product’s
overall full price exposure.

“Throughout the year, the supply chain team’s efforts have also supported our
new Rack store openings successfully. More recently, they have positioned us
well heading into holiday in terms of inventory flow, staffing and shipping
capacity.”

Despite some challenges, including a slight slowdown in sales at the end of
October, Nordstrom officials remain optimistic about the upcoming holiday
season. Smith noted that while the external environment remains uncertain, the
company’s ability to execute its strategies across both banners and provide
great customer service puts it in a strong position to succeed.



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