AI shopping assistants may squeeze online marketplaces like Etsy and eBay

A Wall Street research firm says AI shopping assistants could change who makes money from online shopping. Bank of America Securities says "agentic commerce" is starting to reshape how people buy, just as Etsy, eBay, Carvana and Wayfair get ready to report earnings. The firm says the shift is speeding up but is still early.

What it means

Agentic commerce means an AI assistant that can search for a product, choose one and check out for you. If shoppers begin and finish a purchase there, marketplaces lose the first look. That hurts because sites earn money from ads and on-site search, which are high-margin parts of a sale.

Platforms may have to pay more to be recommended by an assistant. Or they may accept a lower take rate, which is the cut they keep from each sale.

For sellers, the takeaway is to keep clean product data and your own direct customer channels, so you do not depend only on marketplaces.

What to watch

• Etsy, eBay and Carvana report on Oct. 28. Wayfair follows on Nov. 4.
• Bank of America flagged Etsy and Wayfair for leaning into AI features built on large language models.
• Analysts want to see whether the tools lift conversion, repeat shopping and take rate, not just sales.

What is not known yet is how many people shop through AI assistants today, or whether these features will bring in lasting revenue. The full report was not available in the material.