Agentic Commerce - McKinsey
This new report is a big swing on agents, worth a read even if you question their execution chops.
Three models they unpack which are worth scanning:
Identity: From “know your customer” to “know your agent.” Delegated trust and consent become part of infrastructure.
Agentic Commerce: AI can act as buyer, negotiator, & coordinator (or all three!). Commerce becomes intent-driven, not click-driven.
API Strategy: Modular, open architectures beat exclusive partnerships. Agents thrive on clean, interoperable endpoints - not walled gardens.
As well as tips on what to think about moving forward there are some clear threats to current commerce operators, big list below
Disintermediation: Agents bypass storefronts and ads, executing direct API-based purchases.
Ad Collapse: Traditional media and retail ads lose reach as agents skip exposure.
Brand Erosion: Loyalty weakens when agents prioritise efficiency over emotion.
Margin Compression: Automated negotiation drives real-time price competition.
Data Blackout: Less first-party data as agents make decisions off-platform.
Fraud Risk: Malicious or spoofed agents exploit weak identity protocols.
Fulfilment Strain: Agent-driven orders surge unpredictably across channels.
Regulatory Ambiguity: Blurred accountability for agent-initiated actions.
Discovery Lockout: Platforms with agent-ready APIs dominate intent capture.
Protocol Tax: New intermediaries monetise interoperability through access fees.
Lots of gnarly brain food if you’re into commerce and planning out your agentic approach for 2026, would recommend you check out the report here
