AI Becomes Active Participant in Online Purchasing

A McKinsey study projects online revenues in five major European markets could reach 600 billion euros by 2029, with ecommerce growing 6 percent annually, as 38 percent of European consumers already use generative AI for product research and purchasing. Separately, a PSE Consulting survey found 74 percent of consumers prefer an independent AI shopping assistant, while only 10 percent want one embedded in an online store.

Ecommerce News reports that a McKinsey study titled "Europe's new e-commerce agenda: How AI is resetting growth and competition" estimates online revenues in Germany, the United Kingdom, Spain, Italy and France could reach 600 billion euros by 2029, with ecommerce in those markets growing about 6 percent annually over the next three years, per McKinsey. The report also finds roughly 38 percent of European consumers already use generative AI tools to research products and make purchasing decisions, per McKinsey. Separately, PSE Consulting surveyed 4,250 consumers in the United Kingdom, United States, France and Germany and found 74 percent prefer an independent AI shopping assistant, 41 percent prefer cross-platform assistants like Gemini, 33 percent prefer specialist assistants, and only 10 percent want an assistant embedded in an online store.