European Digital Summit: AI drives online retail growth and profitability
Artificial intelligence (AI) technologies are rapidly becoming a key component in retailers' growth strategies, enabling them to reach consumers more efficiently and streamline their operations. This was one of the main themes discussed at…
Artificial intelligence (AI) technologies are rapidly becoming a key component in retailers' growth strategies, enabling them to reach consumers more efficiently and streamline their operations. This was one of the main themes discussed at the European Digital Commerce Summit (EDC), organized byVTEX and Amazon Web Services. The event brought together retail industry leaders to discuss current challenges and trends in ecommerce, the impact of AI, and the digital transformation of businesses, attracting over 600 participants.
Prakash Gurumoorthy, General Manager of VTEX EMEA & APAC, highlighted the accelerated evolution of online retail over the past two years—a trend that is set to continue as companies increasingly adopt digital solutions.
"The VTEX platform has allowed companies to quickly adapt to market changes, but in light of current economic challenges, such as rising fixed costs, operational efficiency is becoming crucial. In this context, AI integration is vital for optimizing processes and boosting profitability," Prakash Gurumoorthy stated during the summit’s opening.
AI technologies are already used for efficient order management, process prioritization, and onboarding new customers, contributing to increased profitability. VTEX continues to develop AI-based solutions that support both B2B and B2C relationships, simplifying new product launches and enhancing the shopping experience.
A standout moment of the summit was the first-time participation of OBI, a leading German DIY retailer with over 50 years of market experience. Leszek Blacha, Head of Digital Platform Systems OB I, shared the company's journey after implementing the VTEX platform. This enabled them to expand their online presence and develop a marketplace that now hosts over 100 partners.
This transition has doubled their online product offerings and significantly diversified customer options. Blacha emphasized the importance of partnerships with experienced companies like VTEX to innovate and stay competitive in a challenging economic environment.
Black Friday campaign performance and technology in retail
Technology played a crucial role in the success of this year's Black Friday campaigns, with online sales surpassing physical store sales for the first time, according to Raul Filip, Deputy CEO of Altex. He pointed out that integrating technological solutions ensured a seamless experience both online and offline.
Alex Dobre, Business Line Director, Retail and Distribution Solutions Zitec
