How does an entrepreneur know that the products or services of the business are needed at some location? What is the possibility of stretching the marketplace of a business into new directions of demand?
E-commerce initially notched where to buy—for many, then where to sell—for many. While purchases online have become dominant, demand has not necessarily evolved with regards to mass customer discoveries.
Simply, while present-day e-commerce provides where to sell [online], it does not automatically draw a new demand mass. Some products are scarce in some places and abundant in others. Though there are several economic factors that are responsible for this, it is not just straightforward to know that—by selling online.
The objective is to use AI to aggregate information across existing sources and new ones to make it easy to identify factors to know that there is or would be a demand for certain products or services at certain locations, at certain times.
There are gas stations in every country. There are places these gas stations are dense and places they are sparse, but they provide landmarks for information on specifics about a locale that can become marketplace information for an entrepreneur who is seeking where else to sell.
Some locations have housing units, some have schools, and others have highways, parks, sports centers, businesses, and so forth. There are needs associated with these places that can make them become new marketplaces for several entrepreneurs.
It is possible to connect with as many gas stations in the world as possible, with people around there noting information on what is special or specific about the place, including what they have, lack, need, or what may also become exploratory for them. This new information can be combined with those existing in maps and variants, forums, and so on, to determine the likelihood of need for products and services at those locations.
This could become one of the major solutions that large language models [LLMs] would provide, as new directions for sales are sought as well as several other necessary living information, including mind perception prognostications for consumers.
LLMs could use new and existing information to rank likelihoods for how much a product or service would do somewhere, then provide information on how to get products there, or seek local partners as well as payment channels.
The purpose is to ensure a better competitive landscape as well as options for buyers and sellers, shaping growth for small businesses, quality and saving options across the board. This could become a major solution with AI in the years ahead, going beyond the use of AI agents for shopping.
There is a recent report by Adobe Analytics, Cyber Monday Hits Record $13.3 Billion in Online Spending with Majority of Sales Driven by Mobile, stating that “Adobe Analytics data shows record holiday season spending online, with Cyber Monday growing 7.3% year-over-year (YoY) to $13.3 billion, and Cyber Week up 8.2% YoY to $41.1 billion 57% of online sales came through a mobile device on Cyber Monday, an all-time high that represents $7.6 billion in online spending, up 13.3% YoY Generative AI-powered chat bots are impacting how consumers shop online, with traffic to retail sites on Cyber Monday up 1,950% from the year prior. Today, Adobe (Nasdaq:ADBE) released online shopping data for the 2024 holiday season covering Cyber Week, the five-day shopping period from Thanksgiving through Black Friday and Cyber Monday. Based on Adobe Analytics data, the report provides the most comprehensive view into U.S. e-commerce by analyzing commerce transactions online, covering over 1 trillion visits to U.S. retail sites, 100 million SKUs, and 18 product categories. Adobe Analytics is relied upon by the majority of the top 100 internet retailers in the U.S.* to deliver, measure, and personalize shopping experiences online.”
There is a recent announcement by Amazon, Introducing Amazon Haul—a broad selection of products $20 or less, with most under $10, stating that, “We’re introducing an experience in the Amazon shopping app and mobile website called “Amazon Haul” that provides customers in the U.S. a place to discover even more affordable fashion, home, lifestyle, electronics, and other products with ultra-low prices and typical delivery times of one to two weeks. Amazon Haul offers a wide selection of products—all priced $20 and under—backed by Amazon’s A-to-z Guarantee, which protects customers when they buy in our store whether they are sold by Amazon or one of our selling partners. Amazon Haul is now rolling out in beta and available to U.S. customers when they next update their Amazon Shopping app.”
