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AI and Open Commerce: RedCloud Unlocks the Door for SMBs to Enter the Global Marketplace

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Small businesses account for more than 90% of all U.S. businesses and contribute 43.5% of the nation’s GDP, playing a vital role in consumer purchases and services. (1) Justin Floyd, Founder and CEO of RedCloud®, explains how the democratization of data, new AI tools and Open Commerce allow SMBs to trade freely, inventively, innovatively, and instantly across global supply chains and scale their businesses in the most efficient way possible.

LONDON, Oct. 7, 2024 /PRNewswire-PRWeb/ — McKinsey reports that 65% of organizations in 2024 have made generative AI a part of their daily operations, nearly twice the percentage reported in 2023. (2) Large enterprises have been in the AI game for a while, taking advantage of the massive amounts of data available to better understand their customers and dominate the eCommerce industry. Meanwhile, small and medium-sized businesses (SMBs) struggle with disorganized data and a lack of resources. Justin Floyd, Founder and CEO of RedCloud’s Intelligent Open Commerce Platform™, explains, “The Open Commerce initiative is about breaking down barriers and enabling companies to trade efficiently across the internet. The vast data infrastructure built over the last 20 years is finally becoming accessible to everyone. And AI is the first natural way in which all of that data can now serve small businesses.”

“Open Commerce enables small businesses to trade on the same terms as big players through the power of AI and Machine Learning, providing valuable insights into product opportunities and vulnerabilities.” – Justin Floyd, CEO of RedCloud®

Customer Retention and Fraud Prevention
The Global Artificial Intelligence in the eCommerce market is projected to reach $25.1 billion by 2032, with a compound annual growth rate (CAGR) of 15.1%, according to a report from Dimension Market Research. Businesses are gaining deeper insights into customer behavior, enabling personalized advertising, and enhancing content production with generative AI technology. (3) Omnichannel retargeting, predictive analytics for inventory management, and the personalization of marketing strategies decidedly improve customer retention and help reach and exceed sales objectives. (4)

Machine Learning (ML) is playing a more prominent role in financial fraud detection. Traditional systems are less effective at identifying new fraud patterns and often result in false positives. ML models learn from past data, adapt to new fraud techniques, and analyze vast datasets to detect subtle behavioral changes. (5) AI is proving to be invaluable in reducing non-scan incidents, which cost retailers $45 billion annually. By utilizing computer vision and AI algorithms, retailers can monitor video feeds to catch unscanned items, notify checkout staff in real time, and help detect fraud and errors during checkout. (6)

The Democratization of Data
When the internet first started, it was an open system that gradually became closed, building up barriers nearly impossible to scale. Global supply chain businesses can’t afford those kinds of walls between them. Open Commerce, the second generation of eCommerce, changes everything.

The amount of consumer data collected from Meta and Google over the last 25 years is now publicly available in business environments. Generative AI is transforming eCommerce by supercharging the customer experience. It supports hyper-personalized shopping, emotional intelligence integration, and enhanced interactions, increasing sales and consumer satisfaction.
Generative AI enables smart inventory management by forecasting demand and automating restocking. Dynamic pricing adjusts product price tags based on market conditions. AI tools like 24/7 chatbots, virtual try-ons, and virtual assistants upgrade customer service while advanced analytical intelligence forecasts sales and segments customers for more effective marketing optimization. (7)

AI and Machine Learning Promote Open Commerce
AI is revolutionizing Open Commerce for small and medium-sized businesses (SMBs), providing cutting-edge technology to optimize operations and decision-making. With AI-driven data analytics, businesses can identify market opportunities based on real-time transaction data.

AI-powered insights enhance competitiveness by enabling SMBs to make informed decisions about product offerings and marketing strategies. AI tools also coordinate targeted promotions, helping businesses increase visibility and engage customers effectively.
As Floyd states, “Small businesses are the backbone of the global economy. Open Commerce enables them to trade in exactly the same way and on the same terms as the big players through the power of Artificial Intelligence and Machine Learning. Together, they provide valuable insights into product vulnerabilities and opportunities.”

About RedCloud
Based in London, UK, RedCloud Technology was founded in 2012 and stands as a “Rebel Alliance,” leading a bold, second-generation e-commerce transformation. Rejecting the high fees of tech giants, RedCloud leverages AI-enabled supply chain solutions to empower smaller businesses to compete with major corporations. Their democratized, platform provides financial visibility, offering a level playing field that breaks free from the dominance of conventional marketplaces. RedCloud embodies a fairer, more inclusive digital commerce future where Davids can stand tall against Goliaths. Visit https://redcloudtechnology.com/.

References:
1. Ferguson, Stephanie , et al. “Small Business Data Center.” http://www.uschamber.com, 25 May 2023, http://www.uschamber.com/small-business/small-business-data-center. Accessed 27 Sept. 2024.
2. Mamnani, Parag. “Council Post: Get Your Edge with AI: Three Tips for e-Commerce Smbs.” Forbes, Forbes Magazine, 15 Aug. 2024, forbes.com/councils/forbestechcouncil/2024/08/15/get-your-edge-with-ai-three-tips-for-e-commerce-smbs/.
3. “Artificial Intelligence in E-Commerce Market Size, Share, Trends and Forecast 2032.” Dimensionmarketresearch.com, 2023, dimensionmarketresearch.com/report/artificial-intelligence-in-e-commerce-market/. Accessed 27 Sept. 2024.
4. “Artificial Intelligence Influence on Global E-Commerce Market Expected to Skyrocket to $25 Billion by 2032 .” GlobeNewswire News Room, FN Media Group LLC, 22 Aug. 2024, globenewswire.com/news-release/2024/08/22/2934218/0/en/Artificial-Intelligence-Influence-on-Global-E-Commerce-Market-Expected-to-Skyrocket-to-25-Billion-By-2032.html.
5. Srivastava, Sudeep. “An Analysis on Financial Fraud Detection Using Machine Learning.” Appinventiv, Appinventiv, 5 Sept. 2024, appinventiv.com/blog/role-of-machine-learning-in-financial-fraud-detection/.
6. Srivastava, Sudeep. “How AI in Retail Is Revolutionizing the Shopping Experiences.” Appinventiv, 10 Sept. 2024, appinventiv.com/blog/impact-of-ai-in-retail/.
7. Timonera, Kathryn. “Ai in E-Commerce: Navigating Benefits, Challenges, and Future Trends.” eWEEK, 1 Aug. 2024, eweek.com/artificial-intelligence/ai-in-ecommerce/.

Media Contact

Karla Jo Helms, JOTO PR™, 727-777-4629, khelms@jotopr.com, jotopr.com

View original content to download multimedia:https://www.prweb.com/releases/ai-and-open-commerce-redcloud-unlocks-the-door-for-smbs-to-enter-the-global-marketplace-302268154.html

SOURCE RedCloud

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Cineverse’s Bloody Disgusting Scares up New Revenue Opportunities with Growing Merchandise Business – From Collectible TERRIFIER 2 VHS Box Set to New BEETLEJUICE T-Shirts

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Coming off Successful Product Run, Bloody Disgusting Continues to Prove its Value as Top Horror Brand by Tapping into Fan Nostalgia and Retail Partnerships

LOS ANGELES, Oct. 7, 2024 /PRNewswire/ — Cineverse (NASDAQ: CNVS), an innovative streaming entertainment and technology company, is riding the momentum of its growing consumer products business into Halloween. Specifically, its fan-first horror brand Bloody Disgusting continues to tap into nostalgia and the love for iconic films, from Beetlejuice to the Terrifier franchise, with a variety of merchandise available at retailers and online. 

Earlier this year, a new Horror Fan Shop featuring exclusive, limited quantity Bloody Disgusting merch came to 1,700-plus Walmart stores across the country. This collection, curated by Bloody Disgusting specifically for fans, included Fright Rags with Art The Clown and Michael Myers mini masks, along with classic horror t-shirts, figurines and plushes, backpack charms, metal posters and more. 

It also included a double VHS collector’s edition of Terrifier 2, featuring a surprise Scratch ‘n Sniff sticker, which quickly sold out, going viral as fans searched store-to-store (and eBay) to acquire their copy. 

“No one knows the power of nostalgia better than horror fans, and it was only a matter of time that Bloody Disgusting brought the VHS tape back to mainstream retail – the first to do so in a very long time – and we are only getting started,” said Cineverse VP, Networks Strategy, Tom Owen. “In a short period, we have expanded our growing consumer products business to one that is generating revenue via nostalgia, and following the success of merch at retailers like Spencer’s and Walmart – and increased interest from the biggest names in horror to team up with us for future product lines – the Bloody Disgusting brand has never been stronger.”

Additionally, last year, in partnership with apparel licensee Ripple Junction, an exclusive Bloody Disgusting merchandise line was launched with Spencer’s, celebrating several of the most revered faces in horror. Collaborations included Terrifier’s Art The Clown, Child’s Play’s Chucky, Halloween’s Michael Myers, The Texas Chain Saw Massacre’s Leatherface, Friday the 13th’s Jason Voorhees, The Exorcist’s Regan and the Killer Klowns From Outer Space all printed on premium pigment-dyed heavyweight T-shirts branded with a dripping Bloody Disgusting logo. 

The deal has expanded to the 2024 Halloween season in both Spencer’s and Spirit Halloween, with new additions to the line including Beetlejuice and more. 

All of this comes in advance of the highly-anticipated theatrical release of Terrifier 3, which opens October 11 in theaters across North America, all but guaranteeing that Art the Clown will be a popular Halloween costume this year, but also opening the door to additional product opportunities (such as the collectible popcorn buckets now on sale!). 

Written and directed by Damien Leone and produced by Phil Falcone, Terrifier 3 comes courtesy of Dark Age Cinema Productions and The Coven.

ABOUT CINEVERSE

Cineverse’s advanced, proprietary technology drives the distribution of over 70,000 premium films, series, and podcasts to more than 150 million unique viewers monthly. From providing a complete streaming solution to some of the world’s most recognizable brands, to super-serving their own network of fan channels, Cineverse (NASDAQ: CNVS) is powering the future of entertainment. For more information, please visit cineverse.com.

Press Contacts:

For Media
The Lippin Group for Cineverse, cineverse@lippingroup.com

For Investors
Julie Milstead, investorrelations@cineverse.com

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SOURCE Cineverse Corp.

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HSA Store® celebrates HSA Day with launch of new Learning Center resources for open enrollment, and special savings to encourage health savings account (HSA) utilization

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October 15 marks national observance to increase HSA education and awareness for nearly 38 million people covered by these tax-free accounts

DALLAS, Oct. 7, 2024 /PRNewswire-PRWeb/ — HSA Store, the first and leading online store to exclusively sell products that are eligible with health savings account (HSA) funds, announced today that it will celebrate HSA Day on October 15 with the launch of new HSA Learning Center resources and special savings for consumers. The Learning Center launch supports open enrollment education, and is the first of many new learning tracks coming soon. Account holders who shop at HSAStore.com on October 15 will receive a special discount, while consumers can also enter to win a Mystery Bundle Giveaway via Instagram between October 7 – 15.

We take pride in delivering a guess-free shopping experience and industry-leading educational resources that allow account holders to make the most of their tax-free funds and to flex their HSA to meet their personal lifestyle needs.

According to a recent report, Americans have $137 billion saved in nearly 38 million HSAs as of the middle of 2024, demonstrating consumer interest in and the financial power of these accounts. However, the experts at HSA Store believe lack of understanding about how HSA funding works can prevent individuals and families from enrolling in and making the most of these accounts. That’s why the e-commerce leader has launched new, interactive HSA Learning Center content, just in time for HSA Day.

“HSAs provide financial security and the flexibility to pay for a wide variety of specialty and everyday healthcare needs,” said Itamar Romanini, vice president and general manager of HSA Store, a Health-E Commerce online brand. “We take pride in delivering a guess-free shopping experience and industry-leading educational resources that allow account holders to make the most of their tax-free funds and to flex their HSA to meet their personal lifestyle needs.”

New HSA Store Learning Center resources for open enrollment include a self-guided, interactive module that teaches individuals and families the basics of HSAs and helps them identify how they can personally benefit from enrolling in and using an HSA. A second module walks individuals through a comparison of flexible spending accounts FSAs vs. HSAs to help them make informed decisions about which account to enroll in during the annual open enrollment election period. Additional resources available at HSA Store include:

Comprehensive, searchable HSA eligibility list;HSA Tax Savings Calculator and Projected Future Value Calculator;My HSA Expense Dashboard to simplify recording HSA expenses for tax purposes;Educational articles and Ask the Experts tips;HSA Your Way Style Guide; andHSA Perks Dashboard to track savings earned from HSA Store purchases.

“Our mission at HSA Store is singular and constant: To simplify tax-free healthcare accounts. We achieve this through educational content that is informed by our proprietary consumer insights, and by offering HSA-eligible products and telehealth services that reflect the needs and interests of account holders,” said Romanini. “For our team and for consumers who shop with us, every day is HSA Day.”

What is an HSA?
An HSA is a tax advantaged account that allows users to set aside pre-tax income to cover qualified medical expenses. HSAs can be used to pay for a wide variety of eligible expenses, including everyday healthcare products, copayments, prescription and OTC medications, telehealth services, and more. HSAs reduce an account holder’s taxable income. HSA funds always belong to the account holder, and unused funds roll over from year to year and can be used in retirement. An individual or family can enroll in an HSA through an employer-sponsored benefit or individually, as long as they are enrolled in a qualified high-deductible health plan.

Visit HSAstore.com to learn more about HSAs and to spend HSA funds.

About Health-E Commerce
Health-E Commerce is the parent brand to FSA Store and HSA Store, online stores that serve the 70+ million consumers enrolled in pre-tax healthcare accounts. The company also created Caring Mill, a popular private-label line of health products through which a portion of every purchase is donated to the Children’s Health Fund. Since 2010, the Health-E Commerce brands have led the direct-to-consumer e-commerce market for exclusively pre-tax health and wellness benefits. Health-E Commerce plays an essential role in expanding product eligibility for important new categories within the list of eligible medical expenses.

Media Contact

Barbara Tabor, HSA Store, 651-230-9192, barbara@taborpr.com, www.HSAstore.com

View original content to download multimedia:https://www.prweb.com/releases/hsa-store-celebrates-hsa-day-with-launch-of-new-learning-center-resources-for-open-enrollment-and-special-savings-to-encourage-health-savings-account-hsa-utilization-302268811.html

SOURCE HSA Store

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Bulletproof Expands Coverage to Include Microsoft and Amazon Web Services Customers

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FREDERICTON, NB, Oct. 7, 2024 /CNW/ – Bulletproof, a global IT security and compliance solutions company, announced today its membership in the Amazon Web Services (AWS) Partner Program, enhancing its capabilities to service customers operating in cloud environments. The collaboration aims to address the increasing challenges clients encounter with cloud adoption and management.

As a trusted partner to leading technology brands, including Microsoft and AWS, Bulletproof offers unbiased expert analysis, best practices, and solutions designed to help businesses achieve growth in today’s competitive landscape. Their experts collaborate closely with clients to identify their unique business requirements and develop tailored strategies that drive competitiveness, agility, responsiveness, and security.

“By joining the AWS Select Tier Partner Program, our consulting services team is excited to expand our capabilities to Microsoft and AWS customers  in achieving their business goals.  With expertise in the Microsoft platform, Bulletproof is extending services to support customers with AWS hybrid cloud environments. With ongoing focus on security and compliance, we deliver strong solutions wherever our clients choose to deploy their data. This partnership reinforces our commitment to providing comprehensive, consulting services, empowering organizations to innovate and grow with confidence,” said Christopher Simm, Senior Vice President, Professional Services

About Bulletproof 

With locations across North America and around the globe, Bulletproof brings decades of expertise in IT, security, and compliance. Serving industries of all sizes, Bulletproof leverages its extensive experience to mitigate risk and enhance client processes, systems, and business infrastructure.

Connect with us on social: LinkedInTwitter, and Facebook. 

SOURCE Bulletproof, A GLI Company

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