👁️Amazon Solves Discovery Problem in eCommerce
Read about the most important tech news this week and how they affect the products and businesses you build, manage, scale.
In Today's Siam Sixers
👁️ Amazon Solves Discovery Problem in eCommerce
📺 Video: Nadella’s Masterclass on Business Transformation
💡 Essential Reading for Product Leaders
🎧 Podcast: Startup and Scaling Lessons from CaratLane’s Founder
🌟 STPI-TiE Kickstart Launchpad for Growth Stage Startup
😂 Decisions, Decisions, Decisions. Sigh…
1️⃣Amazon Solves Discovery Problem in eCommerce
As users of traditional e-commerce websites, we are inundated with an overload of choices whenever we search, be it for toothpaste or tech gadgets. The sheer number of options makes it hard for us to find the right product quickly, leading to decision fatigue and frustration😓
This discovery problem in e-retail is one that online platforms brought onto themselves.
Let me explain. Most e-commerce sites employ product recommendation algorithms to introduce you to new items and use a review system to help validate your purchasing decisions. However, they are implemented in a constrained way as online retail sites are designed primarily to convert and not engage.
In other words, e-retail today is very transactional and not discovery-focused🕵️♂️ To solve the discovery problem, e-commerce players have been employing tech and innovative strategies.
My personal favorite is the Cred Store, which does not have a search button, and instead, lets users virtually explore, discover, and shop - kind of like how we do in shopping malls🛒. This makes users spend more time on the app building a habit and enabling organic discovery.
Another popular option today thanks to the popularity of GenAI is the use of LLM chatbots to let users talk to virtual sales agents and discover products. Cool right? At Siam, we build chatbots that help you do that🤖
Amazon’s Masterplan💬
Coming to today's topic of interest, Amazon has announced collaborations with Snap and Meta platforms to bring new features enabling users to link their Facebook, Instagram, and Snap accounts to Amazon and buy directly on social media.
💡This, I think is a brilliant move. Amazon is using social media to solve its product discovery problem.
Social media apps, as product people like you know are good at solving content discovery and this new collaboration allows users to shop directly from Amazon's Snapchat and Meta ads and check out without leaving the social media app📱
Potential buyers would also be able to see real-time pricing, Prime eligibility, delivery estimates, and product details on select Amazon product ads in Snapchat as part of the new shopping experience🛍️
They can then check out with their saved Amazon information without having to leave their social platforms. Brilliant right?🚀
2️⃣Nadella’s Masterclass on Business Transformation
A few weeks ago in his annual letter to shareholders, Microsoft CEO Satya Nadella, had mentioned an interesting line that kind of stuck with me:
“Because we know that maximum enterprise value gets created during platform shifts like this one, we will invest to accelerate our lead in AI by infusing this technology across every layer of the tech stack.”
When you're in the middle of an industry-spanning sea change, these are times when making the right bold move can position you or your company to achieve a huge leap forward - and a lot of wealth. Nadella successfully did that. And in this video, we understand how he did that with amazing insights into the AI revolution and Microsoft’s revolution in AI.
Key Segments in the video
Microsoft’s transformation and big moves in LinkedIn, OpenAI, and Gaming.
Importance of rethinking strategy and trajectory in today's digital landscape.
Business potential of emerging technologies and Microsoft's involvement.
Open-source models, advanced LLMs, and safety.
AI’s potential in education, healthcare, and financial inclusion.
3️⃣Essential Reading for Product Teams and Leaders
Here are the latest articles from Siam Computing and the ProdWrks publication that I feel will be useful for product teams and product leaders.
🤔To Share, or Not to Share – OTT Industry’s Password Sharing Dilemma
🖥️The Importance of UI in Website Development
💼Fueler.io – Brewing Opportunities for Job Seekers Through Proof of Work
🧪The Importance of Unit Testing For Software Development
🏥The Power of Explainable AI in Enhancing Patient Experience
🚨30% Asian Organizations Lack GenAI Policies, Prone to Security Risks
💥India Worst Hit by Cyber Attacks with 13.7% of Global Strikes
🤖Merck’s 350-Year Legacy Embraces an AI Future Led by Walid Mehanna
🔒The Rising Necessity of Cyber Insurance for SMEs
📊Use Qualitative and Quantitative Data Together to Build Better Products
4️⃣Podcast: Lessons from building and growing CaratLane
CaratLane which I’m sure you all know is India’s largest omnichannel jewellery brand which started with an online and tech-first model by Avnish Anand. Avnish recently made a $2Bn exit from CaratLane leaving it in the hands of the Tatas to take its legacy forward.
In this podcast, Avnish delves into the jewelry company's approach to customer experience, learnings from customer behavior, and the core of CaratLane’s business model - technology, affordability, and lean operation.
5️⃣STPI-TiE Kickstart Launchpad for Growth Stage Startups
The Software Technology Parks of India (STPI) and The Indus Entrepreneurs (TiE) have launched the LEAP AHEAD initiative (Launchpad for Tech Entrepreneurs towards Accelerated Growth and Pioneering AHEAD).
LEAP AHEAD is a pan-India investment, mentorship, and global connect initiative for accelerating the growth of tech startups that are in the scaling stage, growth stage, product diversification, or planning expansion into new geographical locations. They can benefit through mentoring and funding support of up to INR 1 Crore through the LEAP AHEAD initiative.
6️⃣Decisions, Decisions, Decisions. Sigh…
I hope you enjoyed this week's curated stories and resources. Check your inbox again next week, or read previous editions of Siam Sixers for more insights. To get instant updates, connect with me on LinkedIn.
Cheers!
Khuze Siam
Founder: Siam Computing & ProdWrks