OpenAI's Game-Changing GPT App Store Revealed
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Hey peeps!
Today’s trend of the week is “DIY vehicle maintenance”.
With the cost of new vehicles out of reach for many, maintaining our trusty old cars has become crucial.
This shift has created rising demand from both DIY mechanics and "do-it-for-me" customers who prefer to purchase parts online and have them professionally installed.
To meet this challenge, companies are making it easier to buy auto parts online. AutoNation has launched AutoNationParts.com, offering a wide range of manufacturer parts that can be ordered and delivered to your doorstep.
Amazon and Walmart have also joined the online auto parts game, with Amazon's OEM Automotive Parts Shop and Walmart's expanding same-day delivery service with RevolutionParts.
The good news for eCommerce sellers is that the industry is vast enough to accommodate multiple players. The latest government data reveals that motor vehicle and parts sales exceeded $133 billion in September, up by more than 6% from a year ago.
The rise in DIY mechanics also means there is more demand for educational blogs, info products, and courses that teach people how to fix and maintain their vehicles.
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MARKETPLACE TRENDS
Here are the latest trends from last week's marketplace activity:
Dressed to the nines:
AI
OpenAI's GPT App Store Opens a World of Possibilities
10-second takeaway
OpenAI, the creators of ChatGPT, are upping the AI ante with the introduction of the GPT App Store.
The new platform allows users to easily create customized AI-powered chatbots, known as "GPTs."
Create custom versions of ChatGPT that combine instructions, extra knowledge, and any combination of skills.
Since the debut of ChatGPT just one year ago, OpenAI has transformed the AI scene, boasting an impressive 92% adoption rate among Fortune 500 companies and a whopping 100 million weekly users of ChatGPT.
Now, OpenAI is taking things a step further by democratizing AI development, empowering users to build their own specialized AI applications without any coding expertise.
The GPT App Store, set to launch later this month, enables users to buy and sell their GPTs, positioning them as the AI equivalent of apps.
As of November 6th, users can create and share GPTs publicly. Once in the GPT Store, these creations become searchable, climb leaderboards, and may even earn creators money based on usage.
Creating a GPT is a breeze—no coding skills required. Users can tailor these chatbots for specific tasks, whether it's learning board game rules, teaching math to kids, or designing stickers.
The process is as simple as having a conversation, providing instructions, and selecting functionalities like web searches or data analysis.
eCommerce expert Rick Watson sees the potential for GPTs to revolutionize learning and reshape consumer choices. Unlike Google's text and video-based learning, OpenAI's GPTs offer a conversation-based approach to problem-solving and information discovery.
For retailers and brands, there’s a strategic advantage in understanding and harnessing the power of conversation-based learning. Guiding consumers through product-related conversations can significantly impact their choices and purchases.
Sounds like GPTs could be a game changer, opening up new avenues of learning, connecting with consumers, and a fresh new way to earn money online.?
Navigating Google's November 2023 Reviews Update
Google is rolling out the November 2023 Reviews update which began on November 8th. The update should take 1-2 weeks to complete.
This marks the end of standalone updates as Google transitions to a continuous assessment model for review-based content.
For websites specializing in review-based content, this shift presents both challenges and opportunities.
Previously, sites had to endure months of uncertainty after facing issues with Google's review system. The new approach allows for faster rebounds, though it introduces the constant monitoring of review-based content.
Google advises sites to carefully follow its review system quality guidelines, emphasizing originality, transparency, current information, and coverage of pros and cons. The ongoing evaluation is expected to prioritize these signals.
The November 2023 update coincides with Google's latest core search algorithm update, potentially causing fluctuations in search traffic and rankings over the next few weeks.
The update will initially only impact English-language content, though Google says it may expand to other languages in the future.
HIDDEN GEM
Listing #71104 - $129,552.00
AMAZON FBA | PET CARE, PERSONAL CARE | 41X
Created in February 2018, the account is registered through Amazon Brand Registry and features 4 SKUs related to different hygiene products for people and pets. Minimal effort is required from the Seller to maintain this business.
We’re highlighting this business this week because of its following strengths:
领英推荐
ECOMMERCE
Etsy, Meet Your Match: Michaels Throws Down the Gauntlet
Michaels is stepping into the online marketplace game with the launch of MakerPlace, a platform that aims to compete with the likes of Etsy.
The initiative, which includes the ability to sell virtual classes and how-to guides as well as physical goods, aims to break down barriers for artists and help them increase their earnings.
At launch, the platform already boasts "hundreds of thousands of SKUs" and various how-to classes for beginners, hobbyists, and aspiring professionals.
MakerPlace operates separately from Michaels' main site, providing its own eCommerce experience. This move follows Michaels' introduction of a third-party marketplace earlier this year, targeting high-volume sellers of craft supplies. Both marketplaces will coexist, offering a variety of options for sellers and buyers.
The move comes after a successful three-month beta test and addresses concerns raised by makers about existing platforms, citing issues like high upfront costs and competition with mass-produced goods.
MakerPlace sets itself apart with two membership tiers – basic and professional. The basic membership, which is free, incurs a 4% referral fee, while the professional tier, priced at $9.98 per month, has a 2% referral fee. Additionally, there's a 3% plus $0.20 per item transaction fee.
In comparison, Etsy charges a $0.20 listing fee and a 6.5% transaction fee.
The ability to not only sell physical goods but also virtual classes and how-to guides is a unique opportunity for digital entrepreneurs looking to diversify their revenue streams and increase their authority in their niche.
READ ALL ABOUT IT!
Google’s SGE expands to 120+ countries: new features announced
Amazon KDP to test virtual voice-narrated audiobooks: invitation-only U.S. beta
WordPress launches Site Profiler: pull the info of any domain for free
Google's Holiday Top 100: the top trending gift searches on Google
Hubspot's AI for Creators guide: using generative AI to scale your content
Google’s New Shopping Features Maximize Discoverability
In a bid to enhance the holiday shopping experience, Google has introduced a slew of new features to help business owners maximize their digital presence.
The tech giant's latest updates include the integration of a new shopping hub into its search function, backed by the powerful Google Shopping Graph, a vast dataset of global shopping information.
The new search feature essentially functions as a centralized platform, aggregating shopping data from across the web.
Simultaneously, Chrome has undergone updates, transforming it into a more shopping-oriented browser for both mobile and desktop users.
Key features include the ability to bookmark products in a dedicated shopping list folder, track prices with "price insights" on the desktop Chrome version, and a revamped mobile tab showcasing deals on previously browsed products.
According to Google, eight out of ten shoppers are concerned about securing the best holiday gift deals. The new features aim to provide online businesses with a competitive edge, doubling the number of deals available to users across diverse product categories.
To access the new shopping feature, users can simply search for "Shop Deals," directing them to a visually appealing destination page with a portal-like interface. The page is organized into ten categories, ranging from Electronics to Pet Supplies, each featuring deals presented as markdowns, sales, and promotions.
Chrome's new "Discount tag icon" in the address bar indicates available coupon codes on visited shopping sites, offering online businesses an opportunity to enhance customer engagement. Additionally, the "Shopping Insights" feature, coming soon to Chrome Desktop, provides users with product price history and typical price ranges.
The "Shopping Bell" icon on mobile Chrome is another valuable tool, sending alerts if a product's price decreases on any retailer's site.
These tools provide merchants with even more opportunities to attract new consumers this holiday season.
However, they also increase the possibility of Google referring shoppers to other retailers. This highlights the importance of building customer trust and loyalty.?
ECOMMERCE
TikTok Takes on Amazon with a Move into Logistics
TikTok is looking to boost its eCommerce efforts by ramping up its logistics game.
The social media giant is building a network of warehouses and fulfillment operations to streamline inventory management and speed up deliveries.
But they're not following Amazon's playbook. Instead, TikTok is outsourcing its logistics operations. The platform is partnering with companies like ShipBob and Newegg to handle the logistics.
This move aims to entice more sellers to join TikTok's eCommerce platform, known as TikTok Shop. By making it easier for merchants and brands to sell items, TikTok aims to provide users with a superior shopping experience.
With a staggering 150 million users in the US, TikTok's algorithm-driven content has created a new wave of influencers recommending products, resembling the format of home-shopping channels. TikTok Shop aims to retain these sales within its platform, competing with giants like Amazon, Target, and Walmart.
Despite these ambitious moves, TikTok faces challenges in gaining consumer trust. Concerns about national security have been raised by some U.S. officials, advocating for the app's ban. Additionally, TikTok must convince users to trust the platform with their credit card information for third-party purchases.
Still, the growing influence of social media in shaping consumer behavior cannot be ignored. Platforms like TikTok, Instagram, and YouTube have revolutionized the shopping experience, with TikTok amassing 39 million consumers actively browsing products and reviews.
The joint research by PYMNTS Intelligence and AWS indicates that 17% of TikTok users make purchases based on their discoveries. That's more than 6 million consumers who could be buying your products!
LIVING LA VIDA NOMAD
Hello Up There!
I recently escaped the city for a long weekend away with my family. The trip got off to a brilliant start - before we even reached the hotel, we stumbled across this cool dude crossing the road (safe within the wildlife park).
These beautiful creatures are somehow both awkward and incredibly majestic.? What a sight!
MEME OF THE WEEK
Been somewhere cool or seen a meme that made you chuckle?
Send us a DM on Instagram (@empireflippers) with your favorite meme or nomad shot and we'll include it in the next email!