Powerful AI and Digital Solutions Transforming Ecommerce, Predicts FedEx Exec

Smart supply chains and transparency are essential for fashion retailers to gain loyal customers in the evolving world of ecommerce, according to Raj Subramaniam, who spoke at the National Retail Federation’s NRF 2024: Retail’s Big Show. Subramaniam highlighted the power of combining AI and machine learning with physical networks to create seamless end-to-end digital solutions. He projected that online retail sales will reach $8 trillion annually by 2026, driven by the world’s four billion consumers. However, he stressed the need to optimize supply chains and deliver a better ecommerce experience for all stakeholders. Subramaniam emphasized that the current siloed approach to managing ecommerce businesses is costly and inefficient, causing a disjointed customer experience. Transparency and real-time tracking were also identified as crucial, with consumers expecting companies to inform them about delays before they have to inquire. Additionally, Subramaniam emphasized the importance of easy returns, as 96% of consumers stated they would shop again with a brand offering a hassle-free returns policy. FedEx, where Subramaniam serves as president and COO, plans to launch fdx, a data-driven commerce platform connecting the entire customer journey. The platform aims to enhance demand, conversion, fulfillment, and returns for retailers. By embracing smart supply chains and transparency, retailers can position themselves to thrive in the growing ecommerce space and build lasting customer loyalty.