Obvious one is transactional e-comm and getting a cart, where we might’ve had what we call a [ph]Lopist, lease online, pick up in store, but that was a half of a measure because the customer would actually have to go in the store to sign the lease agreement, getting that into fully transactional and being delivered into their home. Those are the types of things that are helping us not only gain balance of share, support our retailers, but also make our partnership stickier and more valuable. So we’re pleased with where we, and this didn’t start this quarter, this started, in ’22 and ’23 and its paying dividends now and we look forward to the results that it’ll print in the future.
Robert Griffin: Thank you, that’s helpful. And then I guess on the vertical side, you did mention you’re still seeing some comp down, high single digits. Is there anything you kind of maybe break that out or provide any more colors? Is it one or two verticals in particular that are still dragging? And if those flip, we’d see actually a lot stronger GMV growth or is it still across a handful of verticals? Just trying to get a sense on, you guys give us good detail on the 10K about the different product categories, but is there one in particular that is outsize weighing down GMV?
Steve Michaels: Well, broadly, I would say that furniture mattress are still a drag. And as we’ve talked about the demand pull forward during the pandemic, those replacement cycles are longer, right? And so, and with a little bit of a stagnation in the housing market, there might be not as many, people moving out or household formation. So the furniture mattress is still a little bit of a — a little bit of a drag. We’ve seen some, some rebound I’d call it in consumer electronics, which makes a little bit of sense because of the shorter replacement cycle. Smartphones have pretty much stayed strong throughout and, jewelry has its challenges as well, but we’re looking forward to a rebound there. So there’s some puts and takes, but I would say furniture and mattress are the larger drags.
Operator: [Operator instructions]. Our next question comes from Anthony Chukumba with Loop Capital Markets. Your line is open.
Anthony Chukumba: Good morning and thanks for taking my question. So, and this is somewhat related to some of the earlier questions, but you mentioned that you gained GMV balance to sell to key retail partners and you specifically called out technical integrations and marketing. Just wondering if you can just provide a little bit more color, particularly on the marketing side, just in terms of, what you’re able to do there that was so successful for you?
Steve Michaels: Yes, I mean, on the marketing, we’ve been partnering well, what we call our partner marketing department within our marketing function. And they’re doing a really good job of being almost embedded in our retailers, marketing departments and having joint marketing campaigns, trip campaigns, nurture campaigns, promotional campaigns, even sometimes, well, many times joint campaigns with another retailer of ours that is not a competitive logo. And our retailers are seeing the value of being part of the progressive network, the preferred partner network. And so they’re leaning into that and we’re leaning into it. And we’re happy to do that because it benefits both of us. We’re also leaning into and getting more sophisticated on the direct to consumer marketing, which helps to grow our partner GMV because we can drive not only repeat customers, but new customers into our partners environments, either in store or online.
And so there’s a decent amount of work going on in the marketing side on direct to consumer. When the 10Q hits, you’ll see some increase, not massive, not earth shattering numbers, but increase in marketing expense. We expect that to continue as we continue to see really healthy and positive ROAS or return on ad spend. So we think marketing and on the direct to consumer side as a compliment to our retail partner channel, customer acquisition efforts can be a big driver for us in the future. And then on the technical integrations, I’ve pretty much covered those, but it’s credit stack waterfalls and an e-comm carts and things like that.
Anthony Chukumba: Got it, that’s helpful. And then just as a quick follow up, sort of like my obligatory question, any update on the retail partner pipeline, particularly on at the enterprise level?
Steve Michaels: Yes, nothing specific other than it’s a big focus of ours across the spectrum, whether it be in the long tail of the regions, the super regionals and on the enterprise side. And it’s certainly part of our strategy and part of our focus. And we’ll continue to work on it and look forward to hopefully announcing something someday.
Operator: And I’m not showing any further questions at this time. I’d like to turn the call back over to Steve Michaels for any closing remarks.
Steve Michaels: Thank you. I’d like to thank you again for joining us this morning and for your continued interest in Prague. Our teams did a great job and delivered a strong start to the year. We feel good about returning to GMV growth and the positioning of our portfolio. We look forward to updating you again in July with our Q2 results and we hope you have a great day.
Operator: Ladies and gentlemen, this concludes today’s presentation. You may now disconnect and have a wonderful day.
