Transcript
A (0:00)
OpenAI announced ChatGPT Instant Checkout. According to CNBC, the new feature will allow users to make single item purchases directly from merchants through ChatGPT. Instant Checkout initially supports single item purchases from US Etsy sellers, and more than 1 million Shopify merchants are coming soon. The feature is available to us ChatGPT+Pro and free users, and OpenAI plans to expand regional availability in the future. Also of note, shares of Etsy closed up new nearly 16% on Monday with the news and Shopify stock closed up more than 6%. Chris this is also not surprisingly the A and M put you on the spot question. They want to know.
B (0:45)
Geez, let's make my brain work today.
A (0:47)
Yes, yes. Every, every headline, every time we come to you, it's going to be a zinger. Okay? Chris, A and M wants to know. Allowing shoppers to discover and buy products in ChatGPT without leaving the chat should steamroll the classic E Comm funnel from Search Cart to check out in one fell swoop. What are the biggest challenges brands and retailers face in making their online content and product categories agent friendly versus just consumer friendly?
B (1:18)
Well, oh my God, there's so much to that question. All right, well, the first thing I would say is the first thing that the retailers and the brands have to ask themselves is do they want to make their, you know, content agent friendly at all? You know, we heard from David Dorff on the five insightful minutes last week, which is a great interview, folks. If you have not listened to that yet, stop what you're doing right now, hit pause and go back to last week's episode and listen to what David had to say because it was very, very insightful. But we learned from him. You know, basically have two options. You can either block the bots or you can let them in. And if you want to accept them, then you have to get your site Geo optimized and everyone's trying to figure out what the heck that means. That's been a very big topic of conversation here at Grocery Shop. And then it sounds like if, if you're okay with that, then you also, it sounds like have to plug into Chat GPT for checkout in some way, shape or form too. So if you want to start experimenting with that, you want to start understanding what your customer sees from that experience and what you can offer them up to close the deal. I think that's the, that's the key thing here, that that's what you have to start experimenting with. We heard Lauren Steinberg of Loblaw who was incredibly impressive when we interviewed her. And she was very open with it. She said, yeah, we're experimenting. We're welcoming it. We're experimenting with. We don't know what it is until we try it. So we're not going to, you know, we're not going to close ourselves down. We're going to try to think and think and experiment our way through this. So, net. Net. I don't know. I mean, things are changing so fricking fast that I think that's the approach. But I do wonder for me, and I just don't know, like, is there a Trojan horse here? Is this Pandora's box? How many people will retrench and just try to thwart all bots from going to their site? Which I don't know. I'd like to actually think about this in a boardroom with people to say, what are all the different, you know, outcomes that could happen? And like we said with Tim, which ones are more probable that they are going to happen? Because I do worry about the Trojan horse effect here too, that all this will just end up fueling OpenAI and anyone else that tries to do this in the long run. So I don't know. I honestly have no idea. I mean, that's. That's my big takeaway here.