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Ulta Beauty Launches Marketplace – Game-Changer for Customers & Retail Media? · Omni Talk Retail

• 0:00
  Ulta
• 0:00
  Beauty
• 0:01
  is
• 0:01
  launching
• 0:01
  a
• 0:01
  third
• 0:02
  party
• 0:02
  marketplace.
• 0:03
  According
• 0:03
  to
• 0:04
  Chainstorage,
• 0:04
  on
• 0:04
  a
• 0:05
  dedicated
• 0:05
  page
• 0:05
  of
• 0:06
  its
• 0:06
  E
• 0:06
  commerce
• 0:06
  site,
• 0:07
  Ulta
• 0:07
  Beauty
• 0:07
  announced
• 0:08
  that
• 0:08
  Ulta
• 0:09
  Beauty
• 0:09
  Marketplace
• 0:10
  is
• 0:10
  scheduled
• 0:10
  to
• 0:10
  open
• 0:11
  in
• 0:11
  the
• 0:11
  fall
• 0:11
  of
• 0:11
  2025.
• 0:13
  The
• 0:13
  retailer
• 0:13
  said
• 0:14
  that
• 0:14
  the
• 0:14
  marketplace
• 0:14
  will
• 0:14
  be
• 0:14
  a
• 0:15
  curated
• 0:15
  platform
• 0:16
  offering.
• 0:17
  Is
• 0:17
  any
• 0:17
  marketplace
• 0:18
  ever
• 0:18
  not
• 0:18
  curated,
• 0:18
  by
• 0:18
  the
• 0:18
  way,
• 0:19
  and
• 0:19
  a
• 0:19
  curated
• 0:20
  platform
• 0:20
  offering?
• 0:20
  I
• 0:21
  think
• 0:21
  it's
• 0:21
  a
• 0:21
  dig
• 0:21
  towards
• 0:22
  Walmart.
• 0:22
  I
• 0:22
  think
• 0:22
  people
• 0:23
  just
• 0:23
  say
• 0:23
  curated
• 0:24
  platform
• 0:25
  because
• 0:25
  they're
• 0:25
  just
• 0:25
  like
• 0:26
  Walmart
• 0:26
  and
• 0:26
  Amazon
• 0:26
  will
• 0:27
  let
• 0:27
  anybody
• 0:27
  on
• 0:27
  the
• 0:27
  platform.
• 0:28
  Yeah.
• 0:29
  So
• 0:29
  that's
• 0:29
  what
• 0:29
  I
• 0:29
  get
• 0:30
  take
• 0:30
  from
• 0:30
  that
• 0:31
  side.
• 0:31
  I
• 0:31
  think
• 0:31
  it's
• 0:31
  a
• 0:31
  merchant
• 0:32
  thing
• 0:32
  too,
• 0:32
  honestly,
• 0:33
  too.
• 0:33
  I
• 0:33
  think
• 0:33
  it's
• 0:34
  both,
• 0:34
  I
• 0:34
  think.
• 0:34
  And
• 0:35
  they
• 0:35
  kind
• 0:35
  of
• 0:35
  cut
• 0:35
  from
• 0:35
  the
• 0:36
  same
• 0:36
  cloth
• 0:36
  too.
• 0:37
  But
• 0:37
  the
• 0:37
  platform
• 0:37
  will
• 0:38
  offer
• 0:38
  a
• 0:38
  quote
• 0:38
  cutting,
• 0:39
  will
• 0:39
  offer
• 0:39
  quote,
• 0:40
  cutting
• 0:40
  edge
• 0:41
  tools
• 0:41
  and
• 0:42
  powerful
• 0:42
  tech
• 0:43
  end
• 0:43
  quote.
• 0:43
  As
• 0:43
  well
• 0:43
  as
• 0:43
  dedicated
• 0:44
  support
• 0:44
  from
• 0:45
  a
• 0:45
  marketplace
• 0:45
  team.
• 0:46
  Ulta
• 0:46
  is
• 0:46
  accepting
• 0:47
  applications
• 0:48
  via
• 0:48
  a
• 0:48
  digital
• 0:48
  form
• 0:49
  on
• 0:49
  its
• 0:49
  site
• 0:49
  and
• 0:49
  said
• 0:50
  more
• 0:50
  information
• 0:50
  is
• 0:51
  coming
• 0:51
  soon.
• 0:52
  Ulta
• 0:52
  Beauty
• 0:52
  Marketplace
• 0:53
  also
• 0:53
  runs
• 0:53
  on
• 0:54
  a
• 0:54
  platform
• 0:54
  from
• 0:54
  digital
• 0:55
  marketplace
• 0:55
  technology
• 0:56
  provider
• 0:56
  Miracle,
• 0:57
  a
• 0:57
  longtime
• 0:58
  sponsor
• 0:58
  of
• 0:59
  this
• 0:59
  podcast,
• 0:59
  I
• 1:00
  might
• 1:00
  add.
• 1:00
  And
• 1:01
  what
• 1:01
  do
• 1:01
  you
• 1:02
  think
• 1:02
  is
• 1:02
  propelling
• 1:03
  Ulta
• 1:03
  to
• 1:03
  jump
• 1:04
  on
• 1:04
  the
• 1:04
  marketplace
• 1:05
  bandwagon?
• 1:06
  Like
• 1:06
  so
• 1:06
  many
• 1:06
  others?
• 1:07
  This
• 1:07
  is
• 1:08
  such
• 1:08
  a
• 1:08
  smart
• 1:08
  move
• 1:09
  because
• 1:10
  for
• 1:10
  the
• 1:10
  first
• 1:11
  time
• 1:11
  as
• 1:11
  an
• 1:11
  Ulta
• 1:12
  customer,
• 1:12
  it
• 1:13
  allows
• 1:13
  me
• 1:13
  to
• 1:14
  access
• 1:14
  all
• 1:15
  of
• 1:15
  the
• 1:15
  makeup
• 1:15
  and
• 1:16
  health
• 1:16
  and
• 1:16
  beauty
• 1:17
  and
• 1:17
  wellness
• 1:17
  products
• 1:18
  that
• 1:18
  I
• 1:18
  want
• 1:18
  in
• 1:18
  one
• 1:19
  spot.
• 1:19
  There's
• 1:20
  still,
• 1:21
  you
• 1:21
  know,
• 1:21
  it's
• 1:22
  just
• 1:22
  like
• 1:22
  the
• 1:23
  grow.
• 1:23
  It's
• 1:23
  very
• 1:24
  analogous
• 1:24
  to
• 1:24
  grocery.
• 1:25
  Like
• 1:25
  I,
• 1:25
  I
• 1:26
  can't
• 1:26
  get
• 1:26
  all
• 1:26
  my
• 1:26
  groceries
• 1:27
  at
• 1:28
  Kroger
• 1:28
  or
• 1:29
  at
• 1:29
  Walmart.
• 1:30
  I
• 1:30
  still
• 1:30
  make
• 1:31
  a
• 1:31
  stop
• 1:31
  at
• 1:31
  Trader
• 1:31
  Joe's
• 1:32
  or
• 1:32
  Sprouts
• 1:32
  or
• 1:32
  these
• 1:32
  other
• 1:33
  places.
• 1:33
  And
• 1:33
  that's
• 1:33
  still
• 1:34
  very
• 1:34
  much
• 1:34
  the
• 1:34
  case
• 1:35
  when
• 1:35
  it
• 1:35
  comes
• 1:35
  to
• 1:35
  beauty.
• 1:36
  And
• 1:36
  so
• 1:37
  what
• 1:37
  I
• 1:37
  love
• 1:37
  about
• 1:37
  this
• 1:37
  is
• 1:38
  that
• 1:38
  it
• 1:38
  allows
• 1:38
  me
• 1:38
  now
• 1:39
  to,
• 1:39
  you
• 1:40
  know,
• 1:40
  get
• 1:40
  the,
• 1:41
  the
• 1:41
  like
• 1:41
  luxury
• 1:42
  cosmetics
• 1:43
  brands
• 1:43
  that
• 1:43
  I
• 1:43
  shop
• 1:44
  at
• 1:44
  Ulta
• 1:44
  for.
• 1:45
  But
• 1:45
  then
• 1:45
  it
• 1:45
  also
• 1:45
  gives
• 1:46
  me
• 1:46
  access
• 1:46
  to
• 1:46
  all
• 1:47
  of
• 1:47
  these
• 1:47
  D2C
• 1:48
  brands.
• 1:48
  It
• 1:48
  also
• 1:48
  gives
• 1:49
  me
• 1:49
  access
• 1:49
  potentially
• 1:50
  to
• 1:50
  drug
• 1:50
  brands
• 1:51
  too.
• 1:52
  And
• 1:52
  I
• 1:52
  can
• 1:53
  use
• 1:53
  my
• 1:53
  Ulta
• 1:54
  loyalty
• 1:54
  points
• 1:55
  on
• 1:55
  this
• 1:55
  stuff
• 1:55
  like
• 1:56
  it's
• 1:56
  taking
• 1:57
  and
• 1:57
  making
• 1:57
  the
• 1:58
  best
• 1:58
  possible
• 1:59
  shopping
• 1:59
  experience
• 1:59
  for
• 2:00
  me.
• 2:00
  Not
• 2:00
  to
• 2:00
  mention
• 2:01
  there's
• 2:01
  all
• 2:02
  the
• 2:02
  money
• 2:02
  they
• 2:02
  can
• 2:02
  make
• 2:02
  from
• 2:03
  retail
• 2:03
  media
• 2:03
  from
• 2:04
  all
• 2:04
  of
• 2:04
  these
• 2:04
  new
• 2:04
  brands
• 2:05
  that
• 2:05
  they're
• 2:05
  bringing
• 2:05
  on
• 2:05
  their
• 2:06
  platform.
• 2:06
  And
• 2:07
  finally,
• 2:07
  I
• 2:07
  think
• 2:08
  the
• 2:08
  beauty
• 2:08
  of
• 2:09
  this
• 2:09
  is
• 2:09
  that
• 2:09
  never
• 2:10
  before
• 2:11
  has
• 2:12
  a
• 2:12
  retailer
• 2:12
  in
• 2:12
  this
• 2:13
  category
• 2:14
  been
• 2:14
  able
• 2:14
  to
• 2:14
  see
• 2:15
  some
• 2:15
  of
• 2:15
  the
• 2:15
  adjacencies
• 2:16
  that
• 2:16
  are
• 2:17
  happening
• 2:17
  with
• 2:18
  their
• 2:18
  brand,
• 2:19
  that
• 2:19
  with
• 2:20
  products
• 2:20
  that
• 2:20
  are
• 2:20
  outside
• 2:21
  their
• 2:21
  four
• 2:21
  walls.
• 2:21
  Like
• 2:22
  Ulta
• 2:22
  knows
• 2:22
  that
• 2:22
  I
• 2:23
  buy
• 2:23
  this
• 2:23
  moisturizer
• 2:24
  and
• 2:24
  this
• 2:25
  foundation
• 2:26
  and
• 2:26
  this
• 2:26
  concealer,
• 2:27
  but
• 2:27
  they
• 2:27
  haven't
• 2:28
  been
• 2:28
  able
• 2:28
  to
• 2:28
  see,
• 2:28
  like,
• 2:28
  what
• 2:29
  products
• 2:29
  am
• 2:29
  I
• 2:29
  shopping
• 2:30
  for
• 2:30
  in
• 2:30
  drug.
• 2:31
  What
• 2:31
  products
• 2:31
  am
• 2:31
  I
• 2:32
  shopping
• 2:32
  for
• 2:32
  online
• 2:33
  with
• 2:33
  like
• 2:33
  a
• 2:33
  specialty
• 2:34
  retailer?
• 2:34
  And
• 2:35
  so
• 2:35
  I
• 2:35
  think
• 2:35
  this
• 2:35
  is
• 2:36
  just
• 2:36
  creating
• 2:36
  a
• 2:37
  flywheel
• 2:37
  for
• 2:37
  Ulta
• 2:38
  that
• 2:38
  will
• 2:38
  just
• 2:39
  propel
• 2:39
  them
• 2:40
  into
• 2:40
  the
• 2:40
  future.
• 2:40
  And
• 2:41
  I,
• 2:41
  I
• 2:41
  absolutely
• 2:42
  love
• 2:42
  it.
• 2:43
  But
• 2:43
  Chris,
• 2:43
  I'm
• 2:44
  not
• 2:44
  the
• 2:44
  merchant
• 2:45
  of
• 2:45
  the
• 2:45
  group.
• 2:45
  So
• 2:45
  tell
• 2:46
  me
• 2:46
  what
• 2:46
  your
• 2:46
  thoughts
• 2:47
  are.
• 2:47
  Like,
• 2:47
  what
• 2:48
  are
• 2:48
  there
• 2:48
  complexities
• 2:49
  to
• 2:49
  this
• 2:49
  or
• 2:49
  things
• 2:49
  that
• 2:49
  I'm
• 2:50
  not
• 2:50
  thinking
• 2:50
  about
• 2:50
  when
• 2:51
  it
• 2:51
  comes
• 2:51
  to
• 2:51
  like
• 2:52
  the
• 2:52
  curated
• 2:53
  marketplace?
• 2:54
  No,
• 2:54
  I
• 2:54
  think
• 2:54
  you
• 2:55
  nailed,
• 2:55
  I
• 2:55
  think,
• 2:55
  I
• 2:55
  mean,
• 2:56
  I
• 2:56
  thought
• 2:56
  you,
• 2:56
  I
• 2:56
  thought
• 2:56
  you
• 2:56
  nailed
• 2:57
  it.
• 2:57
  I
• 2:57
  think
• 2:57
  you
• 2:57
  know
• 2:57
  what
• 2:58
  you're
• 2:58
  essentially
• 2:58
  getting
• 2:58
  at.
• 2:58
  And,
• 2:59
  and
• 2:59
  I
• 2:59
  was
• 2:59
  going
• 2:59
  to
• 2:59
  bring
• 2:59
  this
• 2:59
  up
• 3:00
  later,
• 3:00
  but
• 3:00
  you
• 3:00
  actually
• 3:00
  made
• 3:01
  me
• 3:01
  think
• 3:01
  about
• 3:01
  it
• 3:01
  now.
• 3:01
  I
• 3:01
  was
• 3:01
  going
• 3:01
  to
• 3:02
  bring
• 3:02
  it
• 3:02
  up
• 3:02
  in
• 3:02
  the
• 3:02
  fifth
• 3:02
  headline,
• 3:03
  but,
• 3:03
  you
• 3:03
  know,
• 3:03
  I
• 3:03
  go
• 3:03
  back
• 3:04
  to
• 3:04
  the
• 3:04
  podcast
• 3:04
  we
• 3:04
  did
• 3:04
  with
• 3:05
  Claire
• 3:05
  Cherry
• 3:05
  on
• 3:05
  investor
• 3:06
  perspectives
• 3:06
  in
• 3:06
  retail,
• 3:07
  and
• 3:07
  if
• 3:07
  you
• 3:07
  haven't
• 3:07
  listened
• 3:08
  to
• 3:08
  that,
• 3:08
  folks,
• 3:08
  it's
• 3:08
  a
• 3:08
  really
• 3:08
  great
• 3:09
  one.
• 3:09
  And
• 3:09
  she
• 3:10
  changed
• 3:10
  my
• 3:10
  thinking
• 3:10
  about
• 3:11
  many
• 3:11
  of
• 3:11
  the
• 3:11
  trends
• 3:12
  that
• 3:12
  are
• 3:12
  happening
• 3:12
  or
• 3:12
  at
• 3:13
  least
• 3:13
  opened
• 3:13
  my
• 3:13
  eyes
• 3:13
  to
• 3:13
  them.
• 3:14
  And
• 3:14
  you
• 3:14
  know,
• 3:14
  I
• 3:14
  think
• 3:14
  what
• 3:14
  you're
• 3:15
  getting
• 3:15
  at
• 3:15
  here
• 3:15
  is
• 3:15
  there's
• 3:16
  so
• 3:16
  much
• 3:16
  activity
• 3:17
  on
• 3:17
  social
• 3:17
  media,
• 3:18
  so
• 3:18
  many
• 3:18
  startup
• 3:18
  brands
• 3:19
  on
• 3:19
  kind
• 3:19
  of
• 3:19
  the
• 3:20
  hell,
• 3:20
  the
• 3:20
  kind
• 3:21
  of
• 3:21
  the
• 3:21
  food
• 3:21
  or
• 3:22
  beauty
• 3:22
  products
• 3:22
  as
• 3:22
  medicine
• 3:23
  kind
• 3:23
  of
• 3:23
  trend
• 3:24
  like
• 3:24
  to.
• 3:24
  For
• 3:25
  healthy,
• 3:25
  live,
• 3:25
  healthier
• 3:26
  living.
• 3:26
  Right?
• 3:26
  Yeah.
• 3:27
  So
• 3:27
  as
• 3:27
  a,
• 3:28
  as
• 3:28
  Ulta,
• 3:28
  there's
• 3:29
  no
• 3:29
  way
• 3:29
  that
• 3:29
  you
• 3:29
  can
• 3:30
  keep
• 3:30
  up
• 3:30
  on
• 3:30
  those.
• 3:31
  And
• 3:31
  there's
• 3:31
  no
• 3:31
  way
• 3:32
  also
• 3:32
  you
• 3:32
  don't
• 3:32
  want
• 3:33
  to
• 3:33
  invest
• 3:33
  in
• 3:33
  them
• 3:34
  on
• 3:34
  a
• 3:34
  national
• 3:35
  nationwide
• 3:35
  store
• 3:35
  rollout
• 3:36
  either.
• 3:36
  It's
• 3:36
  just
• 3:36
  silly.
• 3:37
  So
• 3:37
  you,
• 3:37
  but
• 3:37
  you
• 3:37
  want
• 3:38
  to
• 3:38
  give
• 3:38
  your
• 3:38
  customer
• 3:38
  access
• 3:39
  to
• 3:39
  those
• 3:39
  and
• 3:39
  that's
• 3:40
  essentially
• 3:40
  what
• 3:40
  they're
• 3:41
  doing
• 3:41
  here.
• 3:41
  So
• 3:42
  I
• 3:42
  don't
• 3:42
  know.
• 3:42
  And
• 3:42
  I
• 3:42
  come
• 3:43
  back
• 3:43
  to
• 3:43
  it.
• 3:43
  So
• 3:43
  the
• 3:43
  other
• 3:43
  point
• 3:44
  that
• 3:44
  I
• 3:44
  make
• 3:44
  too
• 3:44
  is
• 3:45
  we've
• 3:45
  talked
• 3:45
  about
• 3:46
  this
• 3:46
  being
• 3:46
  the
• 3:46
  year
• 3:46
  of
• 3:46
  the
• 3:46
  robot.
• 3:47
  My
• 3:47
  God,
• 3:47
  it's
• 3:47
  also
• 3:48
  the
• 3:48
  year
• 3:48
  of
• 3:48
  the
• 3:48
  marketplace.
• 3:49
  I
• 3:49
  mean,
• 3:49
  in
• 3:49
  the
• 3:50
  last
• 3:50
  three
• 3:50
  months,
• 3:51
  since
• 3:51
  the
• 3:51
  start
• 3:51
  of
• 3:51
  2025,
• 3:52
  we've
• 3:52
  got
• 3:52
  best
• 3:52
  Buy,
• 3:53
  Janie
• 3:53
  and
• 3:53
  Jack,
• 3:54
  now
• 3:54
  Ulta.
• 3:55
  And
• 3:55
  for
• 3:55
  me,
• 3:56
  I
• 3:56
  mean,
• 3:56
  ultimately,
• 3:57
  to
• 3:57
  me,
• 3:57
  I
• 3:57
  think
• 3:57
  the
• 3:58
  rationale
• 3:58
  for
• 3:58
  a
• 3:58
  marketplace
• 3:59
  is
• 3:59
  so
• 3:59
  simple
• 4:00
  for
• 4:00
  the
• 4:00
  reason,
• 4:00
  and
• 4:01
  it
• 4:01
  goes
• 4:01
  to
• 4:01
  what
• 4:01
  you
• 4:01
  were
• 4:02
  just
• 4:02
  saying,
• 4:02
  but
• 4:02
  they're
• 4:03
  much
• 4:03
  easier
• 4:03
  to
• 4:03
  do
• 4:03
  than
• 4:04
  they
• 4:04
  ever
• 4:04
  were
• 4:04
  before,
• 4:05
  you
• 4:05
  know,
• 4:05
  and
• 4:06
  hence
• 4:06
  because
• 4:06
  of
• 4:07
  companies
• 4:07
  like
• 4:07
  Miracle,
• 4:08
  they
• 4:08
  just
• 4:08
  make
• 4:08
  standing
• 4:09
  them
• 4:09
  up
• 4:09
  much,
• 4:09
  much
• 4:09
  easier.
• 4:10
  Right.
• 4:10
  Two,
• 4:11
  as
• 4:11
  a
• 4:12
  retailer,
• 4:12
  to
• 4:12
  your
• 4:12
  point,
• 4:12
  you
• 4:13
  don't
• 4:13
  own
• 4:13
  the
• 4:13
  inventory,
• 4:14
  so
• 4:14
  you
• 4:14
  can
• 4:14
  give
• 4:15
  your
• 4:15
  customers
• 4:15
  more
• 4:15
  options,
• 4:16
  which
• 4:16
  digital,
• 4:17
  as
• 4:17
  we've
• 4:17
  said,
• 4:17
  A
• 4:18
  thousand
• 4:18
  times.
• 4:18
  And
• 4:18
  you
• 4:18
  hit
• 4:19
  on
• 4:19
  this
• 4:19
  too,
• 4:19
  is
• 4:19
  about
• 4:20
  personalization
• 4:20
  and
• 4:21
  options,
• 4:22
  and
• 4:22
  therefore
• 4:22
  you
• 4:23
  get
• 4:23
  high
• 4:24
  added
• 4:24
  margin
• 4:25
  from
• 4:25
  doing
• 4:25
  this.
• 4:25
  And
• 4:26
  then
• 4:26
  third,
• 4:26
  which
• 4:27
  is
• 4:27
  the
• 4:27
  point
• 4:27
  we
• 4:27
  haven't
• 4:27
  really
• 4:27
  talked
• 4:28
  about
• 4:28
  yet,
• 4:28
  third
• 4:29
  is
• 4:29
  retail
• 4:29
  media.
• 4:30
  Like
• 4:30
  Ulta's
• 4:31
  growth
• 4:31
  is
• 4:31
  slowing.
• 4:32
  So
• 4:32
  it
• 4:32
  wants
• 4:33
  sales
• 4:33
  and
• 4:33
  retail
• 4:34
  media
• 4:34
  to
• 4:34
  be
• 4:34
  the
• 4:34
  bump
• 4:35
  to
• 4:35
  help
• 4:35
  juice
• 4:36
  its
• 4:36
  performance,
• 4:36
  clear
• 4:37
  and
• 4:37
  simple.
• 4:37
  And
• 4:37
  I
• 4:37
  think
• 4:38
  every
• 4:38
  retailer
• 4:38
  is
• 4:39
  starting
• 4:39
  to
• 4:39
  see
• 4:39
  that.
• 4:40
  And
• 4:40
  that's
• 4:40
  why
• 4:40
  you're
• 4:40
  seeing
• 4:41
  this
• 4:41
  growth.
• 4:41
  And
• 4:41
  that's
• 4:41
  why,
• 4:42
  I
• 4:42
  mean,
• 4:42
  honestly,
• 4:42
  2025,
• 4:43
  man,
• 4:43
  it's
• 4:43
  explosive
• 4:44
  on
• 4:44
  the
• 4:44
  marketplace
• 4:45
  front.
• 4:45
  Yeah,
• 4:46
  Yeah,
• 4:46
  I,
• 4:47
  I
• 4:47
  am
• 4:47
  very,
• 4:48
  very
• 4:48
  happy
• 4:49
  with
• 4:49
  this.
• 4:49
  And
• 4:49
  you're
• 4:49
  pumped
• 4:50
  about
• 4:50
  this?
• 4:50
  I
• 4:51
  am.
• 4:51
  Well,
• 4:51
  I
• 4:51
  just,
• 4:51
  I
• 4:51
  think
• 4:52
  that
• 4:52
  the
• 4:52
  loyalty
• 4:52
  angle
• 4:53
  is
• 4:53
  so
• 4:53
  smart
• 4:54
  too.
• 4:54
  Like,
• 4:55
  I
• 4:55
  think
• 4:55
  this
• 4:55
  is
• 4:56
  the
• 4:56
  category
• 4:56
  where
• 4:57
  loyalty
• 4:57
  really,
• 4:58
  really
• 4:58
  matters.
• 4:59
  And
• 5:00
  the
• 5:00
  points
• 5:00
  that
• 5:00
  you
• 5:00
  get,
• 5:01
  like,
• 5:01
  my,
• 5:01
  my
• 5:02
  purchasing
• 5:02
  decisions
• 5:03
  in
• 5:03
  the
• 5:03
  locations
• 5:03
  that
• 5:04
  I'm
• 5:04
  choosing
• 5:04
  to
• 5:04
  purchase
• 5:05
  from
• 5:05
  are
• 5:05
  driven
• 5:06
  by
• 5:06
  my
• 5:06
  loyalty
• 5:07
  points
• 5:07
  that
• 5:07
  are
• 5:07
  associated
• 5:08
  with,
• 5:08
  you
• 5:09
  know,
• 5:09
  with
• 5:09
  Ulta.
• 5:10
  So
• 5:10
  I'
• 5:12
  about
• 5:12
  that.
• 5:12
  And
• 5:12
  now
• 5:12
  that
• 5:12
  I
• 5:13
  have
• 5:13
  so
• 5:13
  much
• 5:13
  more
• 5:14
  to
• 5:14
  choose
• 5:14
  from
• 5:15
  from
• 5:15
  the
• 5:15
  online
• 5:15
  marketplace
• 5:17
  and
• 5:17
  being
• 5:17
  able
• 5:17
  to
• 5:17
  get
• 5:18
  all
• 5:18
  those
• 5:18
  brands
• 5:18
  in
• 5:18
  one
• 5:18
  spot,
• 5:19
  I
• 5:19
  think
• 5:19
  is,
• 5:19
  is
• 5:20
  another
• 5:20
  thing
• 5:20
  that
• 5:20
  you
• 5:20
  can't
• 5:21
  discount
• 5:21
  here
• 5:21
  with
• 5:22
  the,
• 5:22
  with
• 5:22
  the
• 5:22
  marketplace
• 5:23
  standing
• 5:23
  up.
• 5:24
  And
• 5:24
  to
• 5:24
  your
• 5:24
  point
• 5:24
  before
• 5:25
  too,
• 5:25
  like,
• 5:25
  if
• 5:25
  I
• 5:26
  know
• 5:26
  that.
• 5:26
  If
• 5:26
  I
• 5:26
  know.
• 5:26
  And
• 5:27
  so,
• 5:27
  like,
• 5:27
  for
• 5:27
  example,
• 5:27
  if
• 5:28
  I
• 5:28
  know
• 5:28
  you're
• 5:28
  buying
• 5:28
  a
• 5:28
  beauty
• 5:29
  product,
• 5:29
  like,
• 5:30
  I
• 5:30
  imagine
• 5:30
  there's
• 5:30
  some
• 5:31
  correlation
• 5:31
  there
• 5:31
  with
• 5:31
  what
• 5:32
  food
• 5:32
  you
• 5:32
  want
• 5:32
  to
• 5:32
  buy.
• 5:32
  So
• 5:33
  the
• 5:33
  CPGs
• 5:33
  are
• 5:34
  going
• 5:34
  to
• 5:34
  probably
• 5:34
  want
• 5:34
  to
• 5:34
  advertise
• 5:35
  on
• 5:36
  this
• 5:36
  platform
• 5:37
  from
• 5:37
  a
• 5:37
  retail
• 5:37
  media
• 5:38
  perspective.
• 5:38
  So.
• 5:39
  So,
• 5:39
  I
• 5:39
  mean,
• 5:40
  it
• 5:40
  just,
• 5:40
  it
• 5:40
  just
• 5:40
  gives
• 5:40
  so
• 5:41
  many
• 5:41
  angles
• 5:41
  to
• 5:41
  scale.
• 5:42
  You
• 5:42
  know,
• 5:42
  the
• 5:42
  retail
• 5:42
  media
• 5:43
  play
• 5:43
  as
• 5:43
  well.
• 5:43
  It's
• 5:44
  fascinating.
• 5:44
  Yeah,
• 5:45
  High
• 5:45
  frequency,
• 5:46
  it's
• 5:46
  like,
• 5:46
  it
• 5:46
  makes
• 5:47
  so
• 5:47
  much
• 5:47
  sense,
• 5:48
  especially
• 5:48
  coming
• 5:49
  out
• 5:49
  of
• 5:49
  grocery,
• 5:50
  like,
• 5:50
  this
• 5:50
  is
• 5:50
  the
• 5:51
  next
• 5:51
  high
• 5:51
  frequency
• 5:52
  place
• 5:53
  that
• 5:53
  you're
• 5:53
  purchasing
• 5:54
  over
• 5:54
  and
• 5:54
  over
• 5:54
  and
• 5:54
  over
• 5:55
  again.
• 5:55
  And
• 5:55
  so
• 5:55
  the
• 5:55
  data
• 5:55
  is,
• 5:56
  you
• 5:56
  know,
• 5:56
  almost
• 5:57
  as
• 5:57
  valuable
• 5:58
  now
• 5:58
  as
• 5:59
  grocery
• 5:59
  store
• 5:59
  data.
• 6:00
  It's
• 6:00
  like
• 6:00
  one
• 6:00
  of
• 6:00
  the
• 6:00
  second
• 6:01
  categories
• 6:02
  that
• 6:02
  people,
• 6:02
  after
• 6:03
  that,
• 6:03
  that
• 6:03
  people
• 6:03
  are
• 6:04
  shopping
• 6:04
  again
• 6:04
  and
• 6:04
  again
• 6:05
  and
• 6:05
  again.
• 6:05
  So.