As AI rapidly transforms our industries, how do we get buy-in from teams and leadership to embrace tools that change the way we do business?
In a conversation with Rafe Colburn, Chief Technology and Product Officer at Depop, Rosie Bailey explores the role of AI in marketplace negotiation and how leaders can support experimentation with new tools. From automated pricing strategies to consumer psychology, they unpack the challenges and opportunities of AI-driven deals – exploring how it's shaping peer-to-peer marketplaces and the broader implications of its use for business and technology.
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Discussed this episode:
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Real-world negotiation stress: Rafe shares a personal story of negotiating in a high-pressure situation and how desperation can impact decision-making.
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Negotiation on Depop: The evolution of price negotiations on the platform, from simple buyer offers to seller-initiated discounts.
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Buyer vs. seller engagement: Why buyers negotiate four times more than sellers and the psychology behind their behavior.
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AI’s role in negotiation: How AI-driven price suggestions improved buyer conversion by 40% and why anchoring initial offers is so effective.
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Challenges of automation: The balance between efficiency and maintaining the “win” feeling that keeps buyers engaged.
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AI adoption in business: How companies should approach AI implementation with a mix of experimentation and strategy.
Also covered in this AI Negotiation Unlocked Podcast...
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3:45 – How does negotiation work on Depop? Rafe breaks down the marketplace’s approach to price haggling and how users interact with offers.
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10:10 – What are the biggest AI negotiation opportunities in marketplaces? Rosie and Rafe explore the opportunities in peer-to-peer selling and how automation can both help and hurt engagement.
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15:25 – Where is AI making the biggest impact? Explore AI’s influence in coding, content creation, and business operations.
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23:25 – How do businesses successfully implement AI? Rafe shares insights on the technology adoption curve and how to get teams on board with AI-driven change.
The Key Takeaway from this episode of AI Negotiation Unlocked
AI is changing the negotiation game, but you need to find a balance between automation and human psychology. Whether it's suggesting better prices, reducing friction in transactions, or keeping the “win” feeling alive for buyers, AI has the potential to reshape marketplaces—but only if implemented thoughtfully.
Stay tuned for more insights on AI-powered negotiation in future episodes of AI Negotiation Unlocked.
Can't wait? Find out more from Nibble's experience negotiating 100,000 times a month here.
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