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Facebook Marketplace is also a popular platform for Gen Z, said Lute. 3. Assumption: Gen Z is passionate about sustainability. The truth: Gen Z is interested in sustainable products, but constrained by price. Two-thirds (66%) of Gen Z lived paycheck to paycheck as of March 2023, according to a survey conducted by LendingClub in partnership with PYMNTS. 鈥淢oney is always going to come first,鈥� said Lute.

I remember we had launched a whole sort of digital store research area when I was at Forrester. I think it must've been back in around 2010 or something. And even back then there was caution over investing in these digital in-store technologies. And I think it's the same sort of concern right now is how are we going to maintain these things?

Q2 2023 was the best quarter ever for DoorDash in terms of total order numbers, marketplace gross order value (GOV), and revenues, said the company in its Q2 earnings report. Total orders increased 25% YoY to 532 million. Marketplace GOV increased 26% YoY to $16.5 billion. Revenues increased 33% YoY to $2.1 billion.

On today's podcast episode, we discuss how much Amazon's new shopping chatbot can move the needle, what Planet Fitness' out-of-home ad network looks like, becoming a digital mannequin to see what clothes look like on you, whether minutelong soap operas will catch on, who the smartest people in the world are, and more. Tune into the discussion with vice president of content Suzy Davidkhanian, analyst Evelyn Mitchell-Wolf, and vice president of Briefings Stephanie Taglianetti.

When the prompt actually hits the marketplace, I don't think it's going to be like a "Hey, get prepared. In three months' time, we'll start putting out this prompt." It'll be like, "We've worked with regulators. As of today, this prompt is now available for however many percentage of users."

Temu will open its marketplace to US sellers in March, according to Marketplace Pulse. Temu's web traffic grew by more than 700% last year, 700% in 2023, according to Similarweb. And according to Attain, a lot of that success has come from Boomers and Gen X. Think about a year ago, Temu had a Super Bowl ad and I think it had two Super Bowl ads, and no one had even heard of Temu.

Then there's MUBI which was started by a Turkish guy who was trying to watch the movie In The Mood For Love and couldn't find a place to stream it online and he said, "This is BS. I want to fix this."

Yeah, I think a pretty easy definition is it's a digital interface that's powered by, well, currently anyway, a generative AI model, but not just any generative AI model, a particular one called large language models that basically produce natural sounding conversational output based on user prompts and the prompt can be a typed prompt or audio prompt now.

I think a lot of gen AI search is meant to optimize the long tail, which is really useful for Google, but also eBay, ThredUp, a lot of marketplaces that have a really, really large consideration set of products. I think you're right. An Alo Yoga might not necessarily, something with smaller inventory, might not necessarily be great for hammering down those exact sort of product specifications.

The company dominates online shopping. It's got about 40% share of the market in the US. They've got Amazon Web Services, its cloud offering, AWS. It's incredibly profitable for the company. It actually made over $5 billion in profit for the company in Q2 alone. They're also the third largest digital ad player in the US behind Google and Meta.

Even something like digital gaming comes in a distant second. So. Rob Rubin (06:20):. How would you get a young person to be interested in watching something about financial literacy on YouTube? Maria Elm (06:27):.

And then you need some kick-ass product people who understand how to create platform product with good digital experience. It's very rare that you'll have people who can do both. People tend to either look in or out, and for me, pairing those people well would be fantastic.

Amazon's not doing especially well right now, and the competitors are sort of trying to figure out how to increase their marketplace so that you can find all kinds of random things, which is what Amazon started off as. So I'm not surprised that, as the competition gets stronger in the marketplace, then people are searching in lots of other places.

And there's some Jungle Scout data as well. 2023, where do US adults start their online product searches? And for Gen Zs and they break out Gen Zs and US population as a whole.

Looking at the third party line item, in Q2, third party seller services accounted for 60% of its online shopping line item. 60% of that line item. In 2019, it was close to 35. So online seller services in terms of if you stack it up side by side with their online stores, net sales, it used to be 35% a few years ago. Now it's close to 60%.

Younger generations have redefined consumption from economic, social, and environmental standpoints with the help of marketplaces like Thredup and Poshmark.

And probably more important than the no deadline is that they're saying they're going to do this with their owned business, but according to our forecast, about 65% of sales come from the Marketplace, from the 3P sellers.

And I think a lot of people are looking for inspiration, so this is a great way to get that inspiration on paper instead of online. Zak Stambor (03:48):. I totally agree. I love this move. I think at a time when we're just bombarded with digital stuff, digital content everywhere, having a physical object ... And this physical object is on thicker paper stock. It's got really vivid, beautiful images.