Amazon's (AMZN) AI Assistant Rufus Sparks Jump in Purchases, Analysts Reaffirm Bullish View

Amazon.com, Inc. (NASDAQ:AMZN) is one of the Trending AI Stocks on Wall Street. On December 8, Citizens reiterated its “Market Outperform” rating on the stock with a price target of $300.00. The firm highlighted Rufus-driven engagement spike on the platform and fee cuts to boost EU fashion seller growth.

Rufus is a generative AI-powered shopping assistant available in the U.S. and parts of Europe within the Amazon Shopping app on mobile and desktop. Based on data from Similarweb, the genAI assistant has been helping drive more successful purchases on Amazon.

Data has revealed that there has been a 75% day-over-day increase for sessions that included Rufus and resulted in a purchase. Meanwhile, those without it resulted in a 35% day-over-day increase for sessions that resulted in a purchase.

Citizens also noted that Amazon will be making cuts on seller referral fees for European sellers in order to encourage more listings from affordable fashion sellers. These changes will take effect December 15.

“Amazon cuts seller referral fees for European sellers by ~2 points for clothes and accessory items up to 15 euros or 15 pounds and 5 points for items between 15 and 20 euros and pounds beginning December 15. As Amazon continues to expand its roster of affordable fashion sellers, we believe that lower fees will encourage more listings on its platform, positioning it to better compete with fast-growing rivals like Shein and Temu.”

Amazon.com Inc. (AMZN) is an American technology company offering e-commerce, cloud computing, and other services, including digital streaming and artificial intelligence solutions.

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