A McKinsey study, “Europe’s New E-Commerce Agenda: How AI Is Resetting Growth and Competition,” projects online revenues across Germany, the United Kingdom, Spain, Italy, and France could hit €600 billion by 2029, with roughly 6 percent annual growth over the next three years. Already, 38 percent of European consumers use generative AI for product research and purchasing decisions. A separate PSE Consulting survey of 4,250 consumers found 74 percent prefer an independent AI shopping assistant, while only 10 percent want one embedded within an online store.
In-Depth:
Ecommerce News reports that a McKinsey study titled “Europe’s new e-commerce agconcludea: 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 utilize generative AI tools to research products and create 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 indepconcludeent 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.
