<\/p>\n
\n\tL Catterton is betting on Glance in the race to transform shopping with AI.\u00a0<\/p>\n
\n\tThe consumer-focused private equity giant made what was described as a \u201cstrategic investment\u201d in the shopping agent, which is run out of a subsidiary owned by tech company InMobi.\u00a0<\/p>\n
\n\t\u201cAgentic commerce is fundamentally changing how consumers discover and shop for products, creating significant opportunities for brands that can make the journey more personal, intuitive and engaging,\u201d said Scott Dahnke, global chief executive officer of L Catterton. \u201cGlance is uniquely positioned to capitalize on this evolution, combining a differentiated consumer proposition with broad distribution across the screens where people spend their time.<\/p>\n
\n\t\u201cFor nearly four decades, L Catterton has invested behind fundamental shifts in consumer behavior,\u201d Dahnke said. \u201cWe believe agentic commerce will be among the most consequential \u2014 changing not only how consumers purchase products, but how they are inspired and discover what comes next. Glance is at the forefront of this shift, giving every consumer a personal shopper across the devices and surfaces they use every day.\u201d<\/p>\n
\n\tGlance functions like a personal shopper, remembering the users\u2019 preferences, scouring the web for good deals on the right looks and circling back to offer up virtual try-ons and get the green light before making the purchase.\u00a0<\/p>\n
\n\tThe service is meant to be available whenever users shop, via an app and also through partnerships with Samsung, Android TV and DirecTV. Glance is accessible on more than 60 million devices in the U.S.\u00a0<\/p>\n
\n\tNaveen Tewari, founder and CEO of Glance, as well as InMobi, described it as \u201can intelligence machine\u201d that not only \u201cunderstands the products that are right for you\u201d but finds the best price.\u00a0<\/p>\n
\t\t\t\t\tNaveen Tewari<\/p>\n
\t\t\t\t\t\t\t\t\tCourtesy<\/p>\n
\n\tGlance has already gotten some real traction.\u00a0<\/p>\n
\n\t\u201cWe have 10 million monthly active users in the U.S.,\u201d Tewari said. \u201cThey\u2019re doing about 120 shopping prompts a month, so they\u2019re pretty active. Almost 15 percent end up buying something a month.\u201d\u00a0\u00a0<\/p>\n
\n\tThe service is \u201ccontinuously learning, just like if you had a personal shopper hanging around with you all the time while you\u2019re shopping and thinking about roaming around and thinking about stuff.\u201d<\/p>\n
\n\tIt doesn\u2019t eavesdrop on users, but Tewari said it is there to take shopping feedback through chat and can also interact with a smartphone camera when authorized. With a little prompting, Glance can help shoppers watching a smart TV identify looks being worn by actors and go find options to buy.<\/p>\n
\n\t\u201cIt has a lot of intelligence at the back end to really figure out what\u2019s the right product for you and say, \u2018Oh, it seems you\u2019re interested in this product. Let me just make sure you don\u2019t overpay for this,\u2019\u201d Tewari said.\u00a0<\/p>\n
\n\tSimilar to affiliate marketing, Glance gets a piece of the sale price and, for a fee, will do deeper training on brands to ensure they are fully understood and appreciated by the agent.\u00a0<\/p>\n
\n\t\u201cLet brands own their authenticity and let the model learn the brand and its authenticity,\u201d Tewari said. \u201cThe model does not have a limitation like you and I to remember only a hundred brands. The model can actually remember a million brands. As different brands start to get trained on Glance, they get discovered for the right user at the right time. And especially brands that are smaller, that do really authentic work, but not at scale.<\/p>\n
\n\t\u201cWe are not the owner of the [consumer] relationship, neither are we the owner of the brand\u2019s messages,\u201d he said. \u201cWe are effectively ensuring that whatever the brand stands for reaches the user in the absolute accurate manner. They think of us like a distribution partner who enriches the consumer with the right information about my brand.\u201d<\/p>\n
\n\tGlance plans to use the money raised from L Catterton to train its model faster and continue to scale, solidifying its place in the fast-growing world of AI shopping agents.\u00a0<\/p>\n
\n\t\u201cI don\u2019t think any one of us has ever seen a technology as profound as AI in our lifetime,\u201d Tewari said. \u201cThe power of this technology is being unleashed to essentially figure out what it can impact.<\/p>\n
\n\t\u201cWe think about this impact to say, \u2018Hey, and what can it do to improve shopping for people? Can I actually help them choose a product better through AI? Can I help them visualize the product better? Can I reduce the amount of money they pay?\u2019\u201d he said.<\/p>\n
#Catterton #Backs #Glance #Race #Revolutionize #Personal #Shopping<\/p>\n","protected":false},"excerpt":{"rendered":"
L Catterton is betting on Glance in the race to transform shopping with AI.\u00a0 The consumer-focused private equity giant made what was described as a \u201cstrategic investment\u201d in the shopping… <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[242],"tags":[],"class_list":["post-1770","post","type-post","status-publish","format-standard","hentry","category-editors-pick"],"_links":{"self":[{"href":"https:\/\/stock789.top\/index.php?rest_route=\/wp\/v2\/posts\/1770","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stock789.top\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stock789.top\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stock789.top\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stock789.top\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1770"}],"version-history":[{"count":0,"href":"https:\/\/stock789.top\/index.php?rest_route=\/wp\/v2\/posts\/1770\/revisions"}],"wp:attachment":[{"href":"https:\/\/stock789.top\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1770"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stock789.top\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1770"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stock789.top\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1770"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}