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 by VTEX 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 OBI, 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, explained that AI-based solutions can automate and personalize customer interactions, improving satisfaction through tailored recommendations and offers. However, he cautioned retailers to focus on implementing effective, tangible solutions rather than being persuaded by tech trends.

Rareș Bănescu, Owner & Co Founder theMarketer, mentioned that during Black Friday campaigns, the platform sent over 500 million emails and 1.2 million text messages to clients such as Lensa, SmartBill, Flanco, and F64.

At the same time, Decathlon remains optimistic about the Romanian market and continues to innovate, delivering added value to local consumers. "Romania is a healthy sales market, and we've created a marketplace project in the sports niche, offering sellers access to a vast audience, possibly the largest after Amazon," noted Andrei Ștefan, eCommerce Director Decathlon.

As digital payments rise, Elena Gheorghe, Country Manager PayU GPO România, emphasized the need for retailers to adopt payment solutions like Apple Pay and Google Pay to stay competitive in 2025.

Corina Bulimar, Business Development Director of Mastercard, also highlighted the importance of cybersecurity and personalized payment solutions as key ways to protect transactions and increase consumer trust.

The future of digital commerce

The summit served as a strategic platform for discussing innovative solutions and the directions that will shape the future of digital commerce. Radu Mărcușu, CEO Upswing, addressed AI advancements and explored how business models might evolve today under the influence of new technologies. He also spoke about the rapid rise of Asian retailers, becoming formidable competitors.

Cornel Marcov, Chief Commercial Officer of Fan Courier, discussed the expansion of the FANbox locker network, a €20 million investment, and the inauguration of a new 26,000-square-meter warehouse. Automation is becoming increasingly important, especially given labor shortages.

Cristi Movilă, partner & CEO EMEA & APAC ITGlobers, highlighted the power of seemingly simple automation, such as predicting the next order, which can improve sales, customer retention, and marketing outcomes. He praised the organization of the summit, stating, "European Digital Summit 2024 exceeded expectations, and discussions about integrating automation and AI in retail are crucial for the industry's future. These solutions, when implemented correctly, will fundamentally transform how businesses operate."

The European Digital Commerce event underscored that AI and digital solutions are key to ensuring business growth and maintaining competitiveness in the retail industry. Digital transformation is not just a trend but a decisive factor in shaping the future of the market.

The event, hosted by VTEX and AWS Web Services, had theMarketer as the main partner and was sponsored by ITG, Innobyte, Iviteb, FAN Courier, Zitec, Mastercard, PayU, UpSwing, Nagarro, and Netopia Payments.

About VTEX

VTEX (NYSE: VTEX) is the composable and complete commerce platform that delivers more efficiency and less maintenance to organizations seeking to make smarter IT investments and modernize their tech stack. Through our pragmatic composability approach, we empower brands, distributors, and retailers with unparalleled flexibility and comprehensive solutions, enabling them to invest solely in what provides a clear business advantage and boosts profitability. VTEX is trusted by 2,600 global B2C and B2B customers, including Carrefour, Colgate, Motorola, Sony, Stanley Black & Decker, and Whirlpool, having 3,500 active online stores across 43 countries (as of FY ended on December 31, 2023). For more information, visit www.vtex.com.

*This is a Press release.