1、7T2se3r0Ot6kwoPa7T2se3r0Ot6kwoPaDistributed on:02/10/2025 09:02:53 GMTDistributed on:02/10/2025 09:02:53 GMT2 October 2025Deutsche BankResearch North America United States TMT Internet Industry US Internet Date Industry Update Commerce Cornucopia:GroceryShop,Chat GPT Payments&Dash Forward 25It was a
2、 very busy week for our“commerce coverage”given Open AIs announcement of native payments,with Etsy and Shopify named as launch partners,coupled with our attendance of this years GroceryShop where we had multiple conversations with partners in the delivery and advertising ecosystems,Amazons private l
3、abel grocery expansion,all not to be out done by a flurry of product announcements and partnerships coming out at DoorDashs Dash Forward 2025.In the below,we recap key threads tying all of these events together and the relevant read throughs across our coverage.In summary our key takeaways were as f
4、ollows:Chat GPT steals the show from the top rope:Chat GPTs payment announcement sent shockwaves through GroceryShop,with participants enthusiastic about this new channel for commerce.More specifically,the presumed ease of use for this product via the Agentic Commerce Protocol(ACP)had large retailer
5、s expecting to be able to light the service up in weeks.We look to names like Booking,DoorDash,Instacart,and eBay who have standing relationships with Open AI as likely early adopters.AI everywhere all at once:Beyond the Chat GPT announcement,AI use cases for the grocery/retail space were in focus.O
6、ur conversations with partners in the space pointed towards search,personalization,and content creation as the most powerful customer facing deployments of the technology to date.That said,returns remain uneven with some seeing meaningful ROIs but a substantial amount of customers struggling to extr