Latest / Omni Talk Retail / How Intelligent Store Management Solutions Can Surface Problems & Prioritize Actions For Store Teams | 5IM
Transcript
- 0:00Foreigning
- 0:10us
- 0:10now
- 0:10for
- 0:11five
- 0:11insightful
- 0:11minutes
- 0:11is
- 0:12Julian
- 0:12Mills,
- 0:12a
- 0:13frequent
- 0:13omnitalk
- 0:14guest
- 0:14and
- 0:14the
- 0:14CEO
- 0:15of
- 0:15Corso.
- 0:16Coming
- 0:16off
- 0:16our
- 0:16story
- 0:17last
- 0:17week
- 0:17regarding
- 0:17Corso
- 0:18and
- 0:18Circle
- 0:19K,
- 0:20Julian
- 0:20is
- 0:20here
- 0:20to
- 0:20discuss
- 0:21the
- 0:21rise
- 0:22and
- 0:22value
- 0:22of
- 0:22an
- 0:23intelligent
- 0:23store
- 0:24management
- 0:25solution.
- 0:25Julian,
- 0:26let's
- 0:26start
- 0:26with
- 0:26this.
- 0:27You've
- 0:27partnered
- 0:27with
- 0:27some
- 0:28big
- 0:28retailers
- 0:28recently,
- 0:29like
- 0:29Circle
- 0:29K,
- 0:30I
- 0:30just
- 0:30mentioned,
- 0:30as
- 0:30well
- 0:30as
- 0:31EG
- 0:31and
- 0:32Walmart
- 0:32Mexico,
- 0:32to
- 0:33deploy
- 0:33intelligent
- 0:34management.
- 0:34What's
- 0:35driving
- 0:35these
- 0:35retailers
- 0:36to
- 0:36adopt
- 0:36your
- 0:37solution
- 0:37and
- 0:37to
- 0:38make
- 0:38these
- 0:38moves?
- 0:39Yes.
- 0:40And
- 0:40Chris,
- 0:41first
- 0:41of
- 0:41all,
- 0:41it's
- 0:41great
- 0:41to
- 0:41be
- 0:42back.
- 0:42Thanks
- 0:42for
- 0:42having
- 0:42me.
- 0:44And
- 0:44second,
- 0:45yeah,
- 0:45we
- 0:45were
- 0:46on
- 0:46a
- 0:46bit
- 0:46of
- 0:46a
- 0:46roll.
- 0:46And
- 0:47those
- 0:47are
- 0:47just
- 0:47the
- 0:47ones
- 0:47we
- 0:48can
- 0:48talk
- 0:48about.
- 0:48There
- 0:48are
- 0:48others
- 0:48we
- 0:49can't.
- 0:51It's
- 0:51very
- 0:51exciting.
- 0:52And
- 0:54I
- 0:54think
- 0:54what's
- 0:54happening
- 0:55really
- 0:55is,
- 0:55as
- 0:55you
- 0:56know
- 0:56better
- 0:56than
- 0:57I
- 0:57do,
- 0:57running
- 0:57a
- 0:57store
- 0:57is
- 0:58really
- 0:58complex.
- 0:58There
- 0:59are
- 0:59so
- 0:59many
- 0:59things
- 0:59that
- 0:59come
- 0:59at
- 1:00you
- 1:00every
- 1:00day.
- 1:00The
- 1:00truck's
- 1:01late,
- 1:01you
- 1:01know,
- 1:01planogram's
- 1:02not
- 1:02laid
- 1:03out,
- 1:03promot,
- 1:04incorrectly
- 1:05done,
- 1:05you
- 1:05know,
- 1:06etc.
- 1:06Hundreds
- 1:07and
- 1:07hundreds
- 1:07of
- 1:07things
- 1:07for
- 1:08a
- 1:08store
- 1:08manager.
- 1:09And
- 1:09I
- 1:09think
- 1:09retailers
- 1:10are
- 1:10realizing
- 1:10that
- 1:10sending
- 1:11yet
- 1:12another
- 1:12spreadsheet
- 1:13or
- 1:13yet
- 1:13another
- 1:13email
- 1:14or
- 1:14yet
- 1:15another
- 1:15dashboard,
- 1:16et
- 1:16cetera,
- 1:16doesn't
- 1:17actually
- 1:17fix
- 1:17those
- 1:17problems
- 1:18in
- 1:18the
- 1:18store.
- 1:19You
- 1:19need
- 1:19to
- 1:19have
- 1:19a
- 1:20new
- 1:20way
- 1:20of
- 1:20running
- 1:20your
- 1:21store,
- 1:21a
- 1:21new
- 1:21way
- 1:21of
- 1:22using
- 1:22data
- 1:23to
- 1:23surface
- 1:24those
- 1:24problems
- 1:24and
- 1:24prioritize
- 1:25them
- 1:26to
- 1:26the
- 1:26person
- 1:27who
- 1:27can
- 1:27actually
- 1:27take
- 1:27action
- 1:28on
- 1:28them.
- 1:28And
- 1:28that,
- 1:29of
- 1:29course,
- 1:29is
- 1:29what
- 1:29we're
- 1:29doing,
- 1:30you
- 1:30know,
- 1:30with
- 1:31intelligent
- 1:31management.
- 1:32Well,
- 1:33Julian,
- 1:33intelligent
- 1:34management
- 1:34always
- 1:35comes
- 1:35to
- 1:35life
- 1:35best
- 1:36when
- 1:36we
- 1:36get
- 1:36an
- 1:36example.
- 1:37Is
- 1:37there
- 1:37one
- 1:37that
- 1:38you
- 1:38can
- 1:38share
- 1:38with
- 1:38our
- 1:39audience
- 1:39today?
- 1:40Yeah,
- 1:41sure.
- 1:41So
- 1:41I
- 1:41think
- 1:42a
- 1:42classic
- 1:42one
- 1:42would
- 1:43be
- 1:43something
- 1:43like
- 1:44promotion
- 1:44execution.
- 1:45So
- 1:45we
- 1:46were
- 1:46working
- 1:46with
- 1:46a
- 1:46big
- 1:46grocer.
- 1:47They
- 1:47found
- 1:48that
- 1:48about
- 1:4830%
- 1:49of
- 1:50promotions
- 1:50weren't
- 1:50being
- 1:51executed
- 1:51correctly
- 1:52or,
- 1:52you
- 1:52know,
- 1:53on
- 1:53a
- 1:53timely
- 1:53basis.
- 1:54So
- 1:54what
- 1:55Corsair
- 1:55can
- 1:55do
- 1:55is
- 1:55basically
- 1:56track
- 1:56the
- 1:57kind
- 1:57of
- 1:57sales,
- 1:57ramp
- 1:57up
- 1:58of
- 1:58those
- 1:58promotions,
- 1:58and
- 1:59alert
- 1:59people
- 2:00if
- 2:01promotions
- 2:02aren't,
- 2:02you
- 2:02know,
- 2:03accelerating.
- 2:04If
- 2:04you're
- 2:04not
- 2:04seeing
- 2:04the
- 2:04sales
- 2:05of
- 2:05those
- 2:05items
- 2:05accelerating
- 2:06the
- 2:06way
- 2:06that
- 2:06you'd
- 2:06expect
- 2:07to
- 2:07given
- 2:07a
- 2:07promotion,
- 2:09and
- 2:09then
- 2:10suggest
- 2:11to
- 2:11the
- 2:12relevant
- 2:12manager,
- 2:12whether
- 2:13it's
- 2:13a
- 2:13department
- 2:13manager
- 2:14or
- 2:14a
- 2:14store
- 2:14manager,
- 2:15how
- 2:15much,
- 2:16you
- 2:16know,
- 2:17sales,
- 2:17they're
- 2:17missing
- 2:17out
- 2:18by
- 2:19not
- 2:19acting
- 2:19on
- 2:19it.
- 2:20Yeah.
- 2:21So
- 2:21you're
- 2:21using
- 2:22data
- 2:22to
- 2:22basically
- 2:23identify
- 2:23the
- 2:23fact
- 2:23that
- 2:24promotion
- 2:24isn't
- 2:24being
- 2:25correctly
- 2:26implemented
- 2:27and
- 2:27showing
- 2:27someone
- 2:28the
- 2:28opportunity
- 2:28cost
- 2:29of
- 2:29that.
- 2:29But
- 2:30of
- 2:30course,
- 2:30that's
- 2:30just,
- 2:30you
- 2:31know,
- 2:31one
- 2:31layer
- 2:31of
- 2:32it.
- 2:32You
- 2:32can
- 2:32also
- 2:32link
- 2:33it
- 2:33up
- 2:33and
- 2:33say
- 2:34to
- 2:34the
- 2:34district
- 2:34Manager.
- 2:34Well,
- 2:35you
- 2:35know,
- 2:35this
- 2:35store
- 2:36is
- 2:36having
- 2:36a
- 2:36problem
- 2:36implementing
- 2:37promotions.
- 2:38You
- 2:38know,
- 2:38they've
- 2:39had
- 2:39four
- 2:39of
- 2:39these
- 2:39kind
- 2:40of
- 2:40incidences
- 2:40in
- 2:40the
- 2:40last
- 2:41week.
- 2:41Maybe
- 2:41you
- 2:41should
- 2:41go
- 2:41and
- 2:41have
- 2:42a
- 2:42chat
- 2:42with
- 2:42them
- 2:42and
- 2:42give
- 2:42them
- 2:42some
- 2:43coaching
- 2:43so
- 2:43you
- 2:44can
- 2:44kind
- 2:44of
- 2:44link
- 2:44up
- 2:44layers
- 2:45of
- 2:45management
- 2:45in
- 2:45that
- 2:45way.
- 2:46Got
- 2:46it.
- 2:47So
- 2:47it's
- 2:47basically
- 2:47like
- 2:48helping
- 2:48the
- 2:48store
- 2:49level
- 2:49cross
- 2:49their
- 2:50T's
- 2:50and
- 2:50dot
- 2:50their
- 2:50I's,
- 2:51which
- 2:51is,
- 2:51which
- 2:51is
- 2:52one
- 2:52reason
- 2:52why
- 2:52Ann
- 2:53and
- 2:53I,
- 2:53since
- 2:53we
- 2:53first
- 2:54met
- 2:54you
- 2:54guys,
- 2:54you
- 2:54know,
- 2:54five
- 2:55or
- 2:55six
- 2:55years
- 2:55ago,
- 2:55have
- 2:56been
- 2:56all
- 2:56in
- 2:56on
- 2:56this,
- 2:57on
- 2:57this
- 2:57idea.
- 2:57But,
- 2:58but
- 2:58being
- 2:59all
- 2:59in
- 2:59on
- 2:59the
- 2:59idea
- 2:59and
- 3:00making
- 3:00sense
- 3:01intuitively
- 3:01is
- 3:02one
- 3:02thing,
- 3:02but
- 3:02how
- 3:03do
- 3:03retailers
- 3:03that
- 3:03you're
- 3:04working
- 3:04with
- 3:04actually
- 3:04form
- 3:05the
- 3:05business
- 3:05case
- 3:06around
- 3:06this?
- 3:06Because
- 3:06I
- 3:06think
- 3:07a
- 3:07lot
- 3:07of
- 3:07people
- 3:07listening
- 3:08would
- 3:08probably
- 3:08be
- 3:08like,
- 3:08okay,
- 3:09how
- 3:09do
- 3:09I
- 3:09put
- 3:09numbers
- 3:10to
- 3:10this?
- 3:11Yeah,
- 3:11well,
- 3:12the
- 3:12first
- 3:12thing
- 3:12is
- 3:12we're
- 3:13outrageously
- 3:13good
- 3:14value.
- 3:14Yeah.
- 3:15So
- 3:15we
- 3:16are
- 3:16about
- 3:163%
- 3:17of
- 3:17the
- 3:17cost
- 3:18of,
- 3:18you
- 3:19know,
- 3:19putting
- 3:19in
- 3:19cameras
- 3:20or
- 3:20robots
- 3:20or
- 3:20something
- 3:21like
- 3:21that.
- 3:21So
- 3:21they're
- 3:2230
- 3:22times
- 3:22as
- 3:22expensive.
- 3:24And
- 3:24we
- 3:25do
- 3:25hundreds
- 3:26of
- 3:26use
- 3:26cases
- 3:26and
- 3:26they
- 3:27probably
- 3:27do
- 3:27a
- 3:27couple.
- 3:28So
- 3:28that's
- 3:28the
- 3:28first
- 3:28one,
- 3:29which
- 3:29is
- 3:29that,
- 3:29you
- 3:29know,
- 3:29the
- 3:29cost
- 3:30on
- 3:30the
- 3:30benefit
- 3:31side
- 3:32is
- 3:32usually
- 3:32three
- 3:33things.
- 3:33So
- 3:33it's
- 3:34first
- 3:34of
- 3:34all,
- 3:34business
- 3:35improvement.
- 3:36So,
- 3:36you
- 3:36know,
- 3:3750
- 3:37to
- 3:37120
- 3:37basis
- 3:38point
- 3:38sales
- 3:38uplift,
- 3:39you
- 3:39know,
- 3:4030
- 3:40basis
- 3:40point
- 3:40shrink
- 3:41reduction,
- 3:42you
- 3:43know,
- 3:4320%
- 3:43reduction
- 3:44in
- 3:44overtime,
- 3:44etc.
- 3:4520%
- 3:46improvement
- 3:46in
- 3:47store
- 3:47standards,
- 3:47et
- 3:47cetera.
- 3:48So
- 3:48that's
- 3:48kind
- 3:49of
- 3:49direct
- 3:49benefits.
- 3:50The
- 3:50second
- 3:50one
- 3:50is
- 3:51time
- 3:51saving.
- 3:52So
- 3:52people
- 3:53are
- 3:53typically
- 3:53seeing
- 3:5310
- 3:54to
- 3:5415%
- 3:54of
- 3:55a
- 3:55kind
- 3:55of
- 3:55manager's
- 3:56time
- 3:56or
- 3:56key
- 3:56holder's
- 3:57time
- 3:57saved
- 3:58because
- 3:58they're
- 3:58not
- 3:59having
- 3:59to
- 3:59go
- 3:59into
- 3:59the
- 3:59back
- 3:59room,
- 4:00pull
- 4:00up
- 4:00lots
- 4:00of
- 4:00different
- 4:01apps,
- 4:01look
- 4:02at
- 4:02lots
- 4:02of
- 4:02different
- 4:02reports,
- 4:03make
- 4:03sense
- 4:03to
- 4:03them,
- 4:03et
- 4:04cetera.
- 4:04They're
- 4:04literally
- 4:04on
- 4:04the
- 4:05sales
- 4:05floor
- 4:06walking
- 4:06around
- 4:06fixing
- 4:07issues
- 4:07live.
- 4:08And
- 4:08then
- 4:08the
- 4:08third
- 4:09one
- 4:09is
- 4:10stored
- 4:11technology
- 4:11stacks
- 4:12are
- 4:12quite
- 4:12complicated.
- 4:12Most
- 4:13people
- 4:13have
- 4:14five,
- 4:14six,
- 4:14seven
- 4:14different
- 4:15applications.
- 4:16They're
- 4:16running
- 4:16with
- 4:17walks
- 4:17and
- 4:17tasks,
- 4:18et
- 4:18cetera.
- 4:18We're
- 4:19increasingly
- 4:19seeing
- 4:19people
- 4:20turning
- 4:20those
- 4:20off
- 4:21and
- 4:21bringing
- 4:21everything
- 4:21into
- 4:22corso,
- 4:22and
- 4:23that's
- 4:23typically
- 4:23delivering
- 4:24about
- 4:24a
- 4:2430%
- 4:25kind
- 4:26of
- 4:26it
- 4:26saving
- 4:27from
- 4:27that.
- 4:28Julian,
- 4:28this
- 4:29seems
- 4:29so
- 4:30incredibly
- 4:30intuitive.
- 4:32Why
- 4:32isn't
- 4:33every
- 4:33retailer
- 4:33doing
- 4:34this
- 4:34right
- 4:34now?
- 4:35Well,
- 4:36I
- 4:36think
- 4:36it's
- 4:36a
- 4:37great
- 4:37question,
- 4:38obviously.
- 4:38I
- 4:38think
- 4:38they
- 4:38should.
- 4:40Yeah,
- 4:41I
- 4:41mean,
- 4:41we
- 4:41do
- 4:41too,
- 4:42I
- 4:42think.
- 4:43Yeah.
- 4:44Yeah,
- 4:45so.
- 4:45So
- 4:45I
- 4:45can't
- 4:45really
- 4:46say.
- 4:46I'd
- 4:46say
- 4:46the
- 4:47two
- 4:47main
- 4:48objections
- 4:48we
- 4:48hear
- 4:49are,
- 4:49one,
- 4:49I
- 4:49think
- 4:49a
- 4:50lot
- 4:50of
- 4:50retailers
- 4:50think
- 4:50anything
- 4:51to
- 4:51do
- 4:51with
- 4:51data
- 4:51they
- 4:51should
- 4:52be
- 4:52Building
- 4:52themselves.
- 4:53Yeah.
- 4:55And
- 4:55what
- 4:55I'd
- 4:55say
- 4:56is
- 4:56I've
- 4:56heard
- 4:57that
- 4:57so
- 4:57many
- 4:57times
- 4:57and
- 4:58I
- 4:58don't
- 4:58think
- 4:58anyone
- 4:58has
- 4:59done
- 4:59that
- 4:59yet,
- 5:00you
- 5:00know,
- 5:01and
- 5:01having
- 5:01been
- 5:01doing
- 5:01this
- 5:02for
- 5:02a
- 5:02while
- 5:02now,
- 5:03you
- 5:04know,
- 5:06I
- 5:06think
- 5:06that
- 5:07promise
- 5:07is
- 5:07getting
- 5:07a
- 5:07little
- 5:08bit
- 5:08thin.
- 5:08So
- 5:08if
- 5:08I
- 5:08were
- 5:08a
- 5:08retailer,
- 5:09I'd
- 5:09be
- 5:09going,
- 5:09really?
- 5:10Are
- 5:10you
- 5:10going
- 5:10to
- 5:10do
- 5:11it?
- 5:12And
- 5:12then
- 5:12I
- 5:12think
- 5:13the
- 5:13second
- 5:13thing
- 5:13is
- 5:14getting
- 5:15access
- 5:15to
- 5:15IT
- 5:15resource.
- 5:16You
- 5:16know,
- 5:16we're
- 5:16very
- 5:16quick
- 5:17to
- 5:17stand
- 5:17up.
- 5:17I
- 5:17mean,
- 5:18Circle
- 5:18K,
- 5:18I
- 5:18think,
- 5:19stood
- 5:19us
- 5:19up
- 5:19initially
- 5:19in
- 5:19about
- 5:2025,
- 5:2030
- 5:20hours
- 5:20of
- 5:21it
- 5:21time,
- 5:21but
- 5:22it's
- 5:23just
- 5:23super
- 5:24busy
- 5:24at
- 5:24the
- 5:24moment.
- 5:25And
- 5:25so
- 5:25even
- 5:25getting,
- 5:26you
- 5:27know,
- 5:27three,
- 5:28four
- 5:28days
- 5:28of
- 5:28someone's
- 5:29time
- 5:29could
- 5:29be
- 5:29quite
- 5:29difficult.
- 5:30Yeah,
- 5:31that's
- 5:31fascinating
- 5:32too,
- 5:32because
- 5:32there's
- 5:32really
- 5:32no
- 5:33competitive
- 5:33advantage
- 5:33to
- 5:34trying
- 5:34to
- 5:34do
- 5:34this
- 5:34yourself.
- 5:34It's
- 5:35just.
- 5:35It's
- 5:35just
- 5:35basically
- 5:35trying
- 5:36the
- 5:36data
- 5:36that
- 5:36you
- 5:36need
- 5:37to
- 5:37block
- 5:37and
- 5:37tackle
- 5:38in
- 5:38your
- 5:38store
- 5:38operations
- 5:39better.
- 5:39So,
- 5:39like,
- 5:39I
- 5:39don't
- 5:40understand
- 5:40why,
- 5:40what
- 5:41the
- 5:41need
- 5:41is
- 5:41to
- 5:41bring
- 5:41that
- 5:42in
- 5:42the
- 5:42house.
- 5:42I
- 5:42think
- 5:42retailers
- 5:43typically
- 5:43have
- 5:43two
- 5:44concerns.
- 5:44The
- 5:44first
- 5:45one
- 5:45is
- 5:45that
- 5:45they
- 5:45don't
- 5:45want
- 5:46data
- 5:46to
- 5:46leave
- 5:47their
- 5:47environment.
- 5:49And
- 5:49I
- 5:49understand
- 5:49that.
- 5:50And
- 5:50candidly,
- 5:51you
- 5:51can
- 5:51set
- 5:51up
- 5:51Corsos
- 5:52so
- 5:52the
- 5:52data
- 5:52never
- 5:53leaves
- 5:53your
- 5:53environment.
- 5:54The
- 5:54second
- 5:55one
- 5:55is,
- 5:56oh,
- 5:56but
- 5:56maybe
- 5:57our
- 5:57data
- 5:57and
- 5:57analytics
- 5:58team
- 5:58has
- 5:58got
- 5:58some
- 5:58special
- 5:59secret
- 5:59sauce
- 6:00about
- 6:00how
- 6:00to
- 6:00detect
- 6:01promotions
- 6:02not
- 6:03correctly
- 6:03implemented.
- 6:04Again,
- 6:05that's
- 6:05fine.
- 6:05You
- 6:06can
- 6:06run
- 6:06that
- 6:06through
- 6:06Corso.
- 6:08Corso
- 6:08is
- 6:09a
- 6:09platform
- 6:09you
- 6:09can
- 6:09use
- 6:09to
- 6:10set
- 6:10up
- 6:10and
- 6:10operationalize
- 6:11those
- 6:11things
- 6:12very
- 6:12quickly
- 6:12and
- 6:12get
- 6:12them
- 6:12out
- 6:13to
- 6:13the
- 6:13field
- 6:13very
- 6:13quickly.
- 6:14You
- 6:14know,
- 6:14if
- 6:14it's
- 6:15secret
- 6:15to
- 6:15you,
- 6:15it's
- 6:16your
- 6:16special
- 6:16recipe,
- 6:17you
- 6:17know,
- 6:17that
- 6:17can
- 6:18remain
- 6:18confidential.
- 6:19So
- 6:19I
- 6:19don't
- 6:20think
- 6:20either
- 6:20of
- 6:20those
- 6:20concerns
- 6:21are
- 6:21really
- 6:21kind
- 6:22of
- 6:22valid,
- 6:22if
- 6:22that
- 6:22makes
- 6:23sense.
- 6:23But
- 6:23maybe
- 6:23we're
- 6:23not
- 6:24doing,
- 6:24you
- 6:24know,
- 6:24maybe
- 6:25we
- 6:25need
- 6:25to
- 6:25communicate
- 6:25that
- 6:26better.
- 6:26Great
- 6:26stuff,
- 6:26Julian,
- 6:27man,
- 6:27so
- 6:27insightful
- 6:28and
- 6:28so
- 6:28articulate
- 6:29and
- 6:29it's
- 6:29just
- 6:30so
- 6:30intuitive.
- 6:30And
- 6:31I,
- 6:31I
- 6:31love
- 6:32having
- 6:32Julian
- 6:32on.
- 6:33Thanks,
- 6:33Julian.
- 6:34Great.