Recorded on 05/28/26 In this podcast, we sit down with ReFIBuy&#x27;s Scot Wingo to discuss the future of agentic commerce. We explore 1) the potential for agentic commerce to disrupt traditional digital advertising; 2) whether eCommerce platforms will own the agentic commerce experience; and 3) consumers&#x27; trust of LLM-driven product recommendations. https://go.td.com/PodcastDisclosure Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Agentic Commerce In Focus With ReFIBuy's Scot Wingo

TD Cowen Insights

# Full Transcript

**Podcast:** TD Cowen Insights

## Participants

- **John Blackledge** (TD Cowen)
- **Scott Wingo** (RefiBuys)

## Transcript

Welcome to TD Cowen Insights, a space that brings leading thinkers together to share insights and ideas shaping the world around us. Join us as we converse with the top minds who are influencing our global sectors.

Hi, we are live from TD Cowen's 54th Annual TMT Conference. I'm John Blackledge, Internet Analyst here at TD Cowen. Pleased to have on this podcast, Scott Wingo, CEO of RefiBuys. Thanks for joining. This is Old Hat for you. I produce sometimes three podcasts a week, so I love the podcast format. It requires zero prep. You just go in and chat. It's my format.

That's great. So we had you earlier today on a panel on agentic commerce. I thought you did a great job. Super informative. I think the first question I have for you is just defining agentic commerce and also the debate around the definition. Maybe we'll start there.

Everyone kind of has their own definition of agentic commerce, and mine has a pretty big tent. So I think of any time a, you know, a Gen AI or an LLM is helping someone research, find, or buy a product is agentic commerce. And it can happen on a variety of different services. The most common use case that comes up in your and my world is these answer engines, which would include ChatGPT, Gemini, Perplexity, Meta has one now, so on and so forth.

However, I think Rufus is agentic commerce. I count that. So it's a retailer hosted agent that's helping people find products in a different type format versus the old format of the onsite search. Or even if you went to an open claw and had a just like a headless agent go do things for you, I count that as well. I ended up getting in these debates. I was at Shop Talk and it was kind of like a famous thing. And it was, it was spurred on through an online debate that I kind of jumped in the middle of.

And there's a set of people and they tend to come from the retail media network world and then also the payments world. And they like this definition of agentic commerce that's very strict. And it basically says, you, John, wake up one day and you're like, I need a new pair of shoes. You tell an agent you need a new pair of shoes and then that's it. So in their definition, it's fully autonomous is kind of like how I think about it. I know you follow AV autonomous vehicles and it's almost as if you kind of said, well, I'm only going to consider autonomous vehicles like where Waymo is now.

But it took Waymo 20 years, 25, 30 years to get here. So that's their definition, which is fine. Everyone can have their own definition. But what they then do is they use that definition to say, and you can't do that today. Therefore, it's not a thing and you shouldn't worry about it. Giving people advice not to pay attention to this, I think is not good advice. So that's why I want to jump in there and say, you can have your own definition, but here'...

Agentic Commerce In Focus With ReFIBuy's Scot Wingo

Transcript

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Agentic Commerce In Focus With ReFIBuy's Scot Wingo

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.