电商，正悄然进化

Core Insights - The e-commerce industry is undergoing a profound transformation, shifting from a growth model based on traffic to one focused on existing market depth and user retention [2][5][8] - The evolution of e-commerce is increasingly driven by AI, replacing the previous dominance of the internet as the primary growth engine [3][4][8] - The new phase of e-commerce emphasizes integration between virtual and physical economies, moving away from the previous separation [6][7][8] Group 1: E-commerce Evolution - The current evolution of e-commerce is characterized by a focus on existing user bases rather than merely acquiring new traffic [2][5] - Competition among e-commerce players is intensifying as they seek to deepen market penetration and enhance user experiences [2][5] - The shift from a traffic-driven model to a retention-focused model is critical for players to remain competitive in the market [5][8] Group 2: Role of AI - AI is becoming a central driver of change in the e-commerce landscape, indicating a shift towards a new era of e-commerce powered by artificial intelligence [4][8] - Companies that embrace AI are likely to unlock new growth opportunities and business models [4][8] Group 3: Integration of Economies - The traditional separation between virtual and physical economies is being replaced by a trend towards integration, where e-commerce players are increasingly involved in supply chains and production processes [6][7] - The future of e-commerce will see the emergence of new players that blend online and offline capabilities, moving beyond the traditional e-commerce model [7][8]