1847 ET - Costco's emerging channel of artificial-intelligence-fueled commerce is growing at a clip, CFO Gary Millerchip tells investors on a call. "While starting from a low base relative to other channels, AI continues to grow in its influence on how our members are searching for products," he says. "Traffic to our site from AI search grew triple digits for the second consecutive quarter, and continues to show the highest conversion rate of all site traffic." He adds that some of the top items that originate from AI searches are appliances, consumer electronics, and, notably, the Costco membership itself, "indicating that there is a strong positive sentiment around the value of our membership coming from these sources."
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.