The retail and e-commerce industries in the Asia Pacific region have experienced a transformation due to rapidly progressing technologies and evolving consumer habits. This new era of online shopping, known as ‘E-commerce 3.0’, leverages advanced technologies such as AI, ML, and data analytics to provide hyper-personalised recommendations, enhance customer engagement, and provide seamless shopping experiences. GenAI tools offer e-commerce merchants a powerful set of capabilities, enhancing efficiency, accuracy, and insight. Industry intelligence estimates that the APAC e-commerce market is worth around USD 3.82 trillion and is expected to grow to USD 6.15 trillion by 2028. GenAI tools have helped businesses reduce their preparation time on electronic direct mail marketing (EDM) by 25 percent and reduce the manpower needed to handle daily customer messages by one-third.
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