Agentic AI: Walmart, Apple, Nike Poised to Win - JPMorgan

JPMorgan analysts believe agentic AI will create new winners and losers in retail, rather than replacing retailers entirely. They suggest companies that control checkout, fulfillment, and customer relationships could strengthen their positions. Grocery retailers, however, face significant disruption due to AI automating routine shopping. JPMorgan highlights Walmart, Apple, and Nike as companies that may lead in this new landscape. They note that retailers have regained control of transactions, with AI platforms now acting more like advanced search tools. This shift favors businesses already owning much of the shopping journey. Walmart is specifically mentioned for its Sparky AI assistant and integrations with large language models. Grocery is seen as high risk because its repetitive purchases are ideal for automated replenishment. AI also makes price comparison easier, potentially increasing pressure on grocery retailers. Categories like beauty and home furnishings, where browsing is key, are more insulated. The bottom line is that retailers who invest in AI to enhance customer acquisition and shopping experiences, while retaining customer data ownership, are best positioned for the agentic AI era.