HKUST Business School Magazine

A major e-commerce player Today, YOHO is recognized as a major e-commerce player. It is listed on the main board of the Hong Kong stock exchange and has around 1.2 million registered members and offers a diversified portfolio of close to 100,000 SKUs (stock keeping units). The company employs a 1P (direct procurement) model for electronics and appliances and a 3P (marketplace) model for other categories. Its cross-border business strategy targets high-spending middle- class customers in Mainland China. The broad plan is to continue to push the boundaries of innovation, leveraging artificial intelligence (AI) to enhance operations and the all-round customer experience. AI-powered innovations In this respect, one notable recent initiative is the introduction of the YOHO AI assistant – a virtual concierge designed to revolutionize online shopping. Equipped with a range of intelligent features, the AI-driven helper can offer product comparisons, price checks and personalized recommendations. “We want to empower our customers by leveraging the latest developments in AI technology to provide a 24/7 personal shopping companion and a level of service and guidance that was previously not possible through human interaction,” Wu said. To achieve new efficiencies elsewhere, YOHO is now using AI to streamline inventory, marketing and logistics, ensuring real-time synchronization and eliminating the potential for human error. Similarly, the company is exploring ways for AI to upgrade its marketing and product curation efforts. “Our AI tools are constantly analyzing customer data and browsing behavior aiming to identify trends and provide highly personalized product recommendations,” Wu added. Biz@HKUST 26 Cover