Labubu, FOMO, and the live shopping boom, with Whatnot’s Grant LaFontaine

Live shopping transforms digital commerce by replicating the social, experiential nature of in-person retail. Whatnot, a platform valued at $11.5 billion, succeeds by fostering community-driven interactions where sellers provide expertise and authentic engagement rather than relying on automated, algorithm-heavy models. CEO Grant LaFontaine emphasizes that the platform’s growth stems from prioritizing human-centric experiences—such as live auctions and shared hobbies—over purely transactional efficiency. By focusing on solving genuine user problems and empowering small businesses and collectors, Whatnot differentiates itself from traditional e-commerce giants. While competitors like eBay have attempted to enter the space, the platform maintains its lead by remaining grounded in its core mission of making shopping inherently fun and social. This approach proves that consumers increasingly crave connection, even in a digital-first marketplace, signaling a broader shift toward more experiential retail models.