Shares Of Walmart, Etsy, And Shopify Jump After ChatGPT Deal Lets Shoppers Buy Directly In Chat

Benzinga

Walmart shares jumped 5% after announcing in-chat shopping via OpenAI’s ChatGPT, adding $40B in value. Etsy and Shopify also rallied as AI-powered Instant Checkout reshapes e-commerce and raises questions about retailer control and ad revenue.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Walmart's announced that shoppers can buy products directly within OpenAI's ChatGBT,

00:06said it shares up nearly 5%, adding roughly $40 billion to its market cap.

00:11Etsy and Shopify also surged after unveiling similar integrations,

00:14with Etsy jumping 16% and Shopify 6%, according to the Wall Street Journal.

00:20ChatGBT's new instant checkout feature lets users search and buy without leaving the chatbot,

00:24and merchants pay a small fee on completed purchases.

00:26And it'll say Walmart and Etsy stand to gain from visibility on ChatGBT,

00:30but the move could weaken customer loyalty and cut into retailers' lucrative ad revenue.

00:35OpenAI says product results will remain organic and unsponsored,

00:38but retailers risk handling over key parts of their sales funnel to AI platforms.

00:43For all things money, visit Benzinga.com.

Category

Transcript

Be the first to comment

Recommended