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☆ US retailers' lure cash-strapped customers with products under $5
  + stars: | 2023-02-28 | by ( Siddharth Cavale Uday Sampath Kumar | Siddharth Cavale | Uday Sampath Kumar | ) www.reuters.com   time to read: +3 min
NEW YORK, Feb 28 (Reuters) - Retailers have a new sweet spot: products that cost $3 to $5. Target said on Tuesday that it would be stocking its shelves with more products priced under $10 as the retailer tries to appeal to more cost-conscious consumers dealing with once-in-a-generation inflation. This comes a little more than a year after dollar store chain Dollar Tree (DLTR.O) said it would launch more discretionary products including seasonal items and apparel priced between the $3 and $5. Many, including high-income households, are buying more store-label brands as budgets stretch in the face of higher interest rates. Target said it plans to launch or expand more than 10 owned brands, adding thousands of new products.
☆ Pressure Mounts on CIOs to Build More AI Apps (and Faster)
  + stars: | 2023-02-16 | by ( Isabelle Bousquette | ) www.wsj.com   time to read: +5 min
Magesh Sarma, chief information and strategy officer for AmeriSave Mortgage Corp., said his team has been inundated with requests to build AI apps aimed at tackling various cost issues. But the AI team, which consists of 76 employees, has been one of the least affected because of its business value. Ms. Anderson has a system for evaluating the priority level of different possible machine-learning projects that come to her department via a request pipeline, she said. Photo: ERIC GAILLARD/REUTERSOne area she hasn’t been able to fully tackle is machine-learning algorithms to help with customer retention. “With AI, it’s an incremental sort of approach.”Adding to the pressure is the exploding popularity of ChatGPT and other generative AI applications.
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