Maveron partner Natalie Dillon joins Brian and Alicia to challenge the consumer-collapse narrative: sentiment sits at post-9/11 lows while spending breaks records. Natalie sheds light on truths of today’s consumer, who is skeptical but continually shopping amid a cultural undertow where AI adoption stays surprisingly shallow, Gen Z turns skeptical, and analog living re-emerges as status. PLUS: Are cults the new future of commerce?

• Shoppers reallocated rather than retreated. Stats show fewer purchases that are higher value and more intentional.
• AI adoption stays shallow, but health and wellness is the emerging opportunity, especially among consumers aged 35+.
• Gen Z, the presumed AI natives, skew most negative, fueling an analog revival.
• Costco remains the disciplined benchmark for marketing, merchandise, and customer experience.
• [26:30] "Gen Z spikes the most negative on AI across age groups, which was shocking." — Natalie Dillon
• [43:09] "I do think some companies still look to Costco…but I think no one has disciplined themselves to the extent that Costco has." — Natalie Dillon

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