Scot Wingo, a seasoned entrepreneur, is launching ReFiBuy to leverage generative AI's impact on e-commerce, recognizing it as the next major wave post-ChatGPT. He sees a slowdown in U.S. e-commerce growth, indicating a need for innovative solutions amid stagnation. The rise of AI shopping agents signifies a shift in consumer behavior, which could disrupt established e-commerce players. In an interview with Fortune, Wingo emphasized the necessity for retailers to adapt and monetize newfound consumer distribution via AI tools.
The LLM companies are getting consumer attention, so they're getting consumer distribution. It's become pretty apparent to me that this was going to be the next big wave of e-commerce.
If you look at e-commerce in the U.S., the growth level has really slowed down. We've settled in somewhere between 15% and 20% of overall retail sales.
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