Digital Dawn - From Cannes to Commerce: Inside Wolt Ads

Can you tell us a little bit more about the shopping behavior in that consumer category on Vault and how they might be different from, say, a traditional retailer like a Walmart or an Albertsons or a Waitrose since our audience isn't there?

So it's the opposite of what you'd expect.

And I think at Vault, we always understood that we needed to go for larger baskets in the weekly shop.

So...

Let me take a step back.

That is the opposite of what I would have expected.

So thank you.

Yes.

Let me take a step back on that and just provide the fundamentals.

And there's a difference in the space between players like ourselves, like Uber, like the delivery hero group of companies, Meituan, where you're a platform.

Okay.

And you have restaurants and you have groceries and you have many different verticals.

For us, this is a pure dark store experience.

And at Walt, we always understood that we were building a shopping mall in your pocket.

How does that work? You have to start with the most frequently purchased items, which are restaurant food.

Okay, so we opened the food court at the start.

That helped us build the flywheel, right? That gives you enough volume for couriers.

That gives you enough volume for the customers to find something interesting.

Huge amount of merchants there.

And then we started adding on.

Okay, so we bolted on grocery.

We bolted on convenience.

We bolted on electronics, flowers, pet.

Now we're kind of going through the whole shopping mall journey, if you can picture it in your head.

Why am I going there? Because we didn't want to just be a burger delivery and, okay, I need a top-up because I ran out of this ingredient, or I really just want a Coca-Cola, or I really want a Ben & Jerry's ice cream late at night, and I'm just going to get it in 15 minutes.