E-commerce is still just 16% of retail, lower than many expect. The reason: consumer behavior. Alex Rampell (@arampell): There are separate demand curves for immediacy and non-immediacy. Overnight shipping never beats a store when you need toothpaste right now. Justine Moore (@venturetwins): People research online but often finish offline, comparing specs, testing fit, deciding in store. Will AI agents shift these consumer behaviors?(a16z)