Latest / Omni Talk Retail / How Lowe’s Marketplace & AI Strategy Are Accelerating Omnichannel Growth | Joe Cano at Mirakl Summit

Transcript

How Lowe’s Marketplace & AI Strategy Are Accelerating Omnichannel Growth | Joe Cano at Mirakl Summit · Omni Talk Retail

• 0:00
  Hello,
• 0:00
  everyone.
• 0:00
  This
• 0:00
  is
• 0:00
  Omnitalk
• 0:01
  Retail.
• 0:01
  I'm
• 0:01
  Chris
• 0:02
  Walton.
• 0:02
  And
• 0:02
  I'm
• 0:02
  Anne
• 0:03
  Mazinga.
• 0:03
  And
• 0:03
  we
• 0:03
  are
• 0:04
  coming
• 0:04
  to
• 0:04
  you
• 0:04
  once
• 0:04
  again
• 0:04
  live
• 0:05
  from
• 0:05
  the
• 0:05
  Miracle
• 0:06
  Summit
• 0:06
  at
• 0:06
  Brookfield
• 0:07
  Place
• 0:08
  in
• 0:08
  New
• 0:08
  York
• 0:09
  City.
• 0:10
  And
• 0:10
  the
• 0:10
  energy's
• 0:11
  still
• 0:11
  hopping
• 0:11
  in
• 0:11
  here.
• 0:12
  We're
• 0:13
  about
• 0:13
  to
• 0:13
  turn
• 0:13
  it
• 0:13
  up.
• 0:13
  I
• 0:14
  think
• 0:14
  we're
• 0:14
  about
• 0:14
  to
• 0:14
  turn
• 0:14
  up
• 0:14
  the
• 0:14
  heat
• 0:15
  in
• 0:15
  here,
• 0:15
  Ann,
• 0:15
  because
• 0:16
  it's
• 0:16
  not
• 0:16
  hot
• 0:16
  enough
• 0:16
  outside.
• 0:17
  We
• 0:17
  got
• 0:17
  to
• 0:17
  get
• 0:17
  it
• 0:18
  hotter
• 0:18
  in
• 0:18
  here.
• 0:18
  No.
• 0:19
  And
• 0:19
  to
• 0:19
  help
• 0:19
  us
• 0:19
  do
• 0:19
  that,
• 0:20
  I
• 0:20
  would
• 0:20
  like
• 0:20
  to
• 0:20
  introduce
• 0:20
  Joe
• 0:21
  Cano,
• 0:21
  the
• 0:21
  SVP
• 0:22
  of
• 0:22
  digital
• 0:22
  at
• 0:23
  Lowe's.
• 0:23
  Joe,
• 0:23
  thanks
• 0:24
  for
• 0:24
  joining
• 0:24
  us
• 0:24
  today.
• 0:25
  Thank
• 0:25
  you
• 0:25
  for
• 0:25
  having
• 0:25
  me.
• 0:26
  I'm
• 0:26
  very
• 0:26
  excited
• 0:26
  to
• 0:26
  be
• 0:27
  here.
• 0:27
  Yeah,
• 0:27
  right.
• 0:28
  Especially
• 0:28
  excited
• 0:28
  to
• 0:28
  be
• 0:28
  inside.
• 0:29
  Yes,
• 0:29
  right.
• 0:30
  No
• 0:30
  doubt.
• 0:31
  Well,
• 0:31
  Joe,
• 0:32
  let's
• 0:32
  start
• 0:32
  by
• 0:32
  giving
• 0:33
  our
• 0:33
  audience
• 0:34
  a
• 0:34
  little
• 0:34
  bit
• 0:34
  of
• 0:34
  your
• 0:35
  background
• 0:35
  because
• 0:35
  you've
• 0:36
  worked
• 0:36
  at
• 0:36
  some
• 0:37
  really
• 0:37
  incredible
• 0:37
  places
• 0:38
  and
• 0:38
  now
• 0:38
  leading
• 0:39
  digital
• 0:39
  at
• 0:39
  Lowe's.
• 0:40
  Yeah,
• 0:40
  so
• 0:41
  I'm
• 0:41
  about
• 0:41
  six
• 0:42
  months
• 0:42
  new
• 0:42
  to
• 0:42
  Lowe's.
• 0:43
  Before
• 0:43
  that,
• 0:43
  I
• 0:43
  was
• 0:44
  at
• 0:44
  Zappos,
• 0:45
  an
• 0:45
  Amazon
• 0:46
  company,
• 0:46
  kind
• 0:47
  of
• 0:47
  running
• 0:47
  marketing
• 0:47
  and
• 0:48
  merchandising
• 0:48
  there.
• 0:48
  I
• 0:48
  was
• 0:49
  also
• 0:49
  at
• 0:49
  Walmart
• 0:49
  and
• 0:50
  general
• 0:50
  merchandising.
• 0:51
  Also
• 0:52
  worked@jet.com
• 0:53
  before
• 0:53
  that,
• 0:54
  I
• 0:54
  was
• 0:54
  at
• 0:54
  Saks
• 0:54
  Fifth
• 0:55
  Avenue
• 0:56
  off
• 0:56
  Fifth
• 0:57
  Gilt,
• 0:58
  Hot
• 0:58
  Topic,
• 0:59
  Wet
• 0:59
  Seal,
• 0:59
  R
• 1:00
  and
• 1:00
  B,
• 1:00
  you
• 1:00
  name
• 1:01
  it,
• 1:01
  I've
• 1:01
  worked
• 1:02
  there.
• 1:03
  Always.
• 1:03
  Yes,
• 1:04
  always.
• 1:04
  Longtime
• 1:04
  retailer,
• 1:05
  love
• 1:05
  retail
• 1:06
  because
• 1:06
  there's
• 1:06
  something
• 1:07
  new
• 1:08
  every
• 1:08
  single
• 1:08
  day,
• 1:09
  but
• 1:09
  always
• 1:09
  have
• 1:09
  been
• 1:10
  akin
• 1:10
  to
• 1:10
  the
• 1:10
  digital
• 1:11
  space.
• 1:11
  So
• 1:12
  amazing.
• 1:12
  Well,
• 1:13
  we're
• 1:13
  excited
• 1:13
  to
• 1:13
  have
• 1:14
  you.
• 1:14
  Thank
• 1:14
  you.
• 1:14
  Yeah,
• 1:15
  it's
• 1:15
  great.
• 1:15
  So,
• 1:15
  Joe,
• 1:16
  so,
• 1:16
  you
• 1:16
  know,
• 1:17
  you.
• 1:17
  Lowe's
• 1:17
  announced
• 1:18
  their
• 1:18
  marketplace.
• 1:19
  I
• 1:19
  think
• 1:19
  that
• 1:19
  they
• 1:19
  were
• 1:19
  going
• 1:19
  to
• 1:19
  do
• 1:19
  a
• 1:19
  marketplace,
• 1:20
  like
• 1:20
  back
• 1:20
  in
• 1:20
  December.
• 1:21
  I
• 1:21
  want
• 1:21
  to
• 1:21
  get
• 1:21
  my
• 1:21
  dates
• 1:22
  right
• 1:22
  here.
• 1:22
  And
• 1:23
  just
• 1:23
  a
• 1:23
  few
• 1:23
  weeks
• 1:23
  ago,
• 1:24
  you
• 1:24
  announced
• 1:24
  the
• 1:24
  launch
• 1:25
  of
• 1:25
  the
• 1:25
  Miracle
• 1:26
  powered
• 1:26
  launch.
• 1:27
  Miracle
• 1:27
  is
• 1:28
  powering
• 1:28
  that
• 1:28
  marketplace
• 1:29
  as
• 1:29
  well.
• 1:31
  Why
• 1:31
  was,
• 1:31
  of
• 1:32
  all
• 1:32
  things
• 1:32
  at
• 1:32
  Lowe's,
• 1:33
  you
• 1:33
  know,
• 1:33
  from
• 1:33
  your
• 1:34
  vantage
• 1:34
  point,
• 1:34
  in
• 1:34
  the
• 1:34
  six
• 1:34
  months
• 1:34
  you've
• 1:35
  been
• 1:35
  enrolled,
• 1:35
  why
• 1:36
  was.
• 1:36
  Why
• 1:36
  was
• 1:36
  the
• 1:37
  marketplace
• 1:37
  prioritized?
• 1:38
  Yeah,
• 1:39
  so
• 1:39
  I
• 1:39
  think
• 1:39
  overall,
• 1:40
  we
• 1:40
  always
• 1:40
  search
• 1:41
  for
• 1:41
  the
• 1:41
  customer.
• 1:41
  We
• 1:42
  always
• 1:42
  look
• 1:42
  that
• 1:42
  customer
• 1:43
  lens.
• 1:43
  You
• 1:43
  want
• 1:43
  to
• 1:43
  make
• 1:44
  sure
• 1:44
  that
• 1:44
  we
• 1:44
  have
• 1:44
  the
• 1:45
  best
• 1:45
  assortment.
• 1:46
  You
• 1:46
  want
• 1:46
  to
• 1:46
  have
• 1:47
  a
• 1:47
  focus
• 1:47
  on
• 1:48
  the
• 1:48
  total
• 1:48
  home
• 1:48
  strategy,
• 1:49
  to
• 1:49
  have
• 1:49
  everything
• 1:50
  for
• 1:50
  the
• 1:50
  home.
• 1:51
  And
• 1:51
  so
• 1:51
  for
• 1:51
  us,
• 1:51
  it
• 1:51
  was
• 1:52
  really
• 1:52
  making
• 1:52
  sure
• 1:52
  that
• 1:52
  we
• 1:52
  were
• 1:53
  offering
• 1:53
  everything
• 1:53
  we
• 1:54
  could
• 1:54
  for
• 1:54
  that
• 1:54
  customer.
• 1:55
  So
• 1:55
  whether
• 1:56
  that's
• 1:56
  price
• 1:56
  point,
• 1:57
  whether
• 1:57
  that
• 1:57
  was
• 1:57
  categories,
• 1:58
  whether
• 1:59
  that
• 1:59
  was
• 1:59
  categories,
• 1:59
  maybe
• 2:00
  we
• 2:00
  weren't
• 2:00
  in
• 2:00
  that.
• 2:00
  We
• 2:01
  wanted
• 2:01
  to
• 2:01
  get
• 2:01
  into
• 2:01
  and
• 2:02
  test
• 2:02
  and
• 2:02
  learn.
• 2:02
  Yeah,
• 2:03
  for
• 2:03
  me,
• 2:04
  that
• 2:04
  was
• 2:04
  like
• 2:04
  the
• 2:04
  paramount
• 2:05
  to
• 2:05
  say,
• 2:05
  if
• 2:06
  our
• 2:06
  customers
• 2:07
  are
• 2:07
  searching
• 2:07
  for
• 2:07
  it,
• 2:07
  we
• 2:08
  should
• 2:08
  be
• 2:08
  able
• 2:08
  to
• 2:08
  offer
• 2:08
  that
• 2:09
  for
• 2:09
  them.
• 2:09
  And
• 2:10
  how
• 2:10
  do
• 2:10
  you
• 2:10
  think
• 2:11
  the
• 2:11
  marketplace
• 2:11
  will
• 2:11
  accelerate
• 2:12
  the
• 2:12
  online
• 2:12
  business?
• 2:12
  The
• 2:13
  overall
• 2:13
  omnichannel
• 2:14
  business,
• 2:14
  really
• 2:14
  not
• 2:14
  the
• 2:14
  online
• 2:14
  business,
• 2:15
  but
• 2:15
  the
• 2:15
  omnichannel
• 2:15
  business.
• 2:16
  I
• 2:16
  mean,
• 2:16
  omnichannel
• 2:16
  is
• 2:17
  huge.
• 2:17
  So
• 2:17
  again,
• 2:18
  we
• 2:18
  are
• 2:18
  such
• 2:18
  a
• 2:19
  great
• 2:19
  brick
• 2:19
  and
• 2:19
  mortar
• 2:20
  store.
• 2:20
  We
• 2:20
  have
• 2:20
  an
• 2:20
  amazing
• 2:20
  red
• 2:21
  vest
• 2:21
  associate
• 2:22
  popular.
• 2:23
  What
• 2:23
  we
• 2:23
  really
• 2:23
  wanted
• 2:24
  to
• 2:24
  do
• 2:24
  is
• 2:24
  be
• 2:24
  able
• 2:25
  to
• 2:25
  empower
• 2:25
  those
• 2:25
  associates
• 2:26
  in
• 2:26
  store
• 2:27
  to
• 2:27
  also
• 2:27
  sell
• 2:28
  this
• 2:28
  marketplace
• 2:28
  items
• 2:29
  online.
• 2:30
  And
• 2:30
  so
• 2:30
  for
• 2:30
  us,
• 2:31
  again,
• 2:31
  it
• 2:31
  was
• 2:31
  just
• 2:31
  saying,
• 2:31
  hey,
• 2:32
  I
• 2:32
  want
• 2:32
  this
• 2:33
  item.
• 2:33
  It
• 2:33
  might
• 2:33
  not
• 2:34
  be
• 2:34
  in
• 2:34
  that
• 2:34
  store,
• 2:34
  but
• 2:35
  I
• 2:35
  can
• 2:35
  get
• 2:35
  that
• 2:35
  online.
• 2:36
  So
• 2:36
  omni
• 2:36
  channel
• 2:37
  selling
• 2:37
  is
• 2:37
  huge
• 2:38
  for
• 2:38
  us.
• 2:39
  So
• 2:39
  give
• 2:40
  me
• 2:40
  a
• 2:40
  little
• 2:40
  insight
• 2:41
  into
• 2:41
  what
• 2:41
  that
• 2:42
  experience
• 2:42
  looks
• 2:43
  like
• 2:43
  for
• 2:43
  me
• 2:43
  as
• 2:43
  a
• 2:43
  Lowe's
• 2:44
  customer.
• 2:44
  I
• 2:44
  mean,
• 2:45
  I'm
• 2:45
  going
• 2:45
  to
• 2:45
  the
• 2:45
  Lowe's
• 2:46
  website.
• 2:46
  How
• 2:47
  do
• 2:47
  I
• 2:47
  come
• 2:47
  across
• 2:48
  some
• 2:48
  of
• 2:48
  these,
• 2:49
  these
• 2:50
  marketplace
• 2:50
  providers
• 2:51
  from
• 2:51
  kind
• 2:52
  of
• 2:52
  both
• 2:52
  the
• 2:52
  DIY
• 2:53
  customer
• 2:53
  and
• 2:53
  I'm
• 2:54
  curious
• 2:54
  from
• 2:54
  the
• 2:54
  pro
• 2:54
  side
• 2:55
  too?
• 2:55
  Yeah.
• 2:55
  So
• 2:56
  from
• 2:56
  a
• 2:57
  customer
• 2:57
  lens,
• 2:58
  you're
• 2:58
  not
• 2:58
  going
• 2:58
  to
• 2:59
  really
• 2:59
  see
• 2:59
  any
• 2:59
  difference.
• 3:00
  That's
• 3:00
  what
• 3:00
  we
• 3:01
  wanted.
• 3:01
  We
• 3:01
  want
• 3:01
  it
• 3:01
  to
• 3:01
  be
• 3:02
  a
• 3:02
  seamless,
• 3:02
  easy
• 3:03
  to
• 3:03
  use
• 3:03
  experience.
• 3:04
  So
• 3:04
  whether
• 3:05
  it's
• 3:05
  coming
• 3:05
  from
• 3:05
  a
• 3:05
  3P,
• 3:06
  like
• 3:06
  a
• 3:06
  marketplace
• 3:07
  or
• 3:07
  a
• 3:07
  1P,
• 3:07
  we
• 3:08
  wanted
• 3:08
  that
• 3:08
  PDP
• 3:09
  to
• 3:09
  look
• 3:09
  the
• 3:09
  same,
• 3:10
  to
• 3:10
  give
• 3:10
  you
• 3:10
  the
• 3:10
  right
• 3:11
  information
• 3:11
  and
• 3:11
  actually
• 3:12
  make
• 3:12
  it
• 3:12
  look
• 3:12
  like
• 3:12
  it's
• 3:13
  all
• 3:13
  coming
• 3:13
  from
• 3:13
  the
• 3:13
  same
• 3:14
  place.
• 3:14
  Okay.
• 3:15
  And
• 3:15
  so
• 3:15
  for
• 3:15
  us,
• 3:15
  that
• 3:15
  was
• 3:15
  paramount
• 3:16
  to
• 3:16
  actually
• 3:17
  launching.
• 3:17
  Yeah.
• 3:18
  Wow.
• 3:18
  So
• 3:19
  no
• 3:19
  difference.
• 3:20
  No
• 3:20
  difference.
• 3:20
  Looking
• 3:21
  for
• 3:21
  bathroom
• 3:21
  remodels.
• 3:22
  And
• 3:22
  I
• 3:22
  could
• 3:22
  see
• 3:22
  if
• 3:23
  you're
• 3:23
  looking.
• 3:23
  For
• 3:23
  a
• 3:23
  bathroom
• 3:24
  remodel,
• 3:24
  we
• 3:24
  got
• 3:24
  faucets
• 3:25
  now
• 3:25
  that
• 3:25
  are
• 3:25
  like.
• 3:25
  I
• 3:25
  mean,
• 3:26
  one
• 3:26
  of
• 3:26
  our
• 3:26
  top
• 3:26
  selling
• 3:27
  faucets
• 3:27
  was
• 3:27
  like
• 3:27
  a
• 3:27
  thirteen
• 3:28
  hundred
• 3:28
  dollar
• 3:28
  faucet.
• 3:29
  And
• 3:29
  we're
• 3:29
  like,
• 3:30
  right.
• 3:30
  Do
• 3:30
  we
• 3:31
  think
• 3:31
  we
• 3:31
  could
• 3:31
  sell
• 3:31
  that?
• 3:31
  I
• 3:31
  don't
• 3:32
  know,
• 3:32
  but
• 3:32
  we
• 3:32
  actually
• 3:32
  can.
• 3:33
  We
• 3:33
  have
• 3:33
  that
• 3:33
  customer,
• 3:34
  which
• 3:34
  is
• 3:34
  great.
• 3:34
  And
• 3:35
  then
• 3:35
  they
• 3:35
  pick,
• 3:35
  they
• 3:36
  can
• 3:36
  ship.
• 3:36
  It
• 3:36
  to
• 3:36
  their
• 3:37
  house,
• 3:37
  ship
• 3:37
  it
• 3:38
  directly
• 3:38
  to
• 3:38
  home.
• 3:39
  Okay.
• 3:39
  And
• 3:39
  it's
• 3:40
  again,
• 3:40
  seamless
• 3:41
  experience.
• 3:41
  Wow.
• 3:42
  Yeah,
• 3:42
  it's
• 3:42
  like
• 3:43
  that.
• 3:43
  It
• 3:43
  reminds
• 3:43
  me
• 3:43
  of
• 3:43
  that
• 3:43
  first
• 3:43
  time
• 3:43
  I
• 3:44
  sold
• 3:44
  that
• 3:44
  first
• 3:44
  $5,000
• 3:45
  couch
• 3:45
  on
• 3:45
  Target.com.
• 3:46
  people
• 3:47
  are
• 3:47
  like,
• 3:47
  what?
• 3:47
  I
• 3:47
  was
• 3:47
  like,
• 3:48
  yeah,
• 3:48
  don't
• 3:48
  you
• 3:48
  just
• 3:48
  feel
• 3:49
  good
• 3:49
  about
• 3:49
  stuff
• 3:49
  like
• 3:49
  that?
• 3:51
  To
• 3:51
  that
• 3:51
  point?
• 3:52
  I'm
• 3:52
  curious
• 3:52
  what
• 3:52
  has
• 3:52
  been
• 3:53
  your
• 3:53
  biggest
• 3:54
  surprise
• 3:55
  in
• 3:55
  understanding
• 3:55
  the
• 3:56
  DIY
• 3:56
  customer
• 3:57
  and
• 3:57
  how
• 3:57
  they
• 3:57
  gravitate
• 3:58
  towards
• 3:58
  a
• 3:58
  marketplace
• 3:59
  thus
• 3:59
  far.
• 3:59
  Yeah.
• 4:00
  So
• 4:00
  I
• 4:00
  think
• 4:00
  overall
• 4:01
  customers
• 4:01
  are
• 4:01
  just
• 4:02
  really
• 4:02
  kind
• 4:02
  of
• 4:02
  out
• 4:03
  there
• 4:03
  searching
• 4:03
  and
• 4:04
  they
• 4:04
  trust
• 4:05
  Lowe's
• 4:06
  as
• 4:06
  a
• 4:06
  great
• 4:06
  home
• 4:06
  improvement
• 4:07
  retailer.
• 4:08
  And
• 4:08
  so
• 4:08
  for
• 4:09
  us,
• 4:09
  it
• 4:09
  was
• 4:09
  like,
• 4:09
  how
• 4:10
  much
• 4:10
  more
• 4:10
  could
• 4:10
  we
• 4:10
  actually
• 4:11
  get
• 4:11
  to
• 4:12
  be
• 4:12
  in
• 4:12
  that
• 4:12
  total
• 4:12
  home?
• 4:13
  And
• 4:13
  so
• 4:14
  one
• 4:14
  thing
• 4:14
  that
• 4:14
  was
• 4:14
  a
• 4:14
  really
• 4:15
  Surprise
• 4:16
  for
• 4:16
  me,
• 4:16
  and
• 4:18
  I
• 4:18
  bought
• 4:18
  this
• 4:18
  myself,
• 4:19
  is
• 4:19
  we
• 4:19
  sold
• 4:20
  a
• 4:20
  $2,300
• 4:21
  sauna.
• 4:21
  And
• 4:22
  if
• 4:22
  you
• 4:22
  don't
• 4:22
  have
• 4:22
  a
• 4:22
  sauna,
• 4:23
  you
• 4:23
  need
• 4:23
  to
• 4:24
  buy
• 4:24
  a
• 4:24
  sauna
• 4:24
  because
• 4:25
  they
• 4:25
  are
• 4:25
  absolutely
• 4:26
  amazing.
• 4:27
  And
• 4:27
  so
• 4:28
  if
• 4:28
  you
• 4:28
  would
• 4:28
  have
• 4:28
  asked
• 4:28
  me,
• 4:29
  a
• 4:29
  merchant
• 4:30
  five
• 4:30
  years
• 4:30
  ago,
• 4:30
  hey,
• 4:31
  we
• 4:31
  should
• 4:31
  sell
• 4:31
  saunas
• 4:31
  on
• 4:32
  Lowe's.com
• 4:32
  they
• 4:32
  probably
• 4:33
  would
• 4:33
  have
• 4:33
  looked
• 4:33
  at
• 4:33
  you
• 4:33
  and
• 4:33
  said,
• 4:34
  absolutely
• 4:34
  not.
• 4:34
  Yeah.
• 4:35
  But
• 4:35
  now
• 4:35
  we're
• 4:35
  actually
• 4:35
  being
• 4:36
  able
• 4:36
  to
• 4:36
  utilize
• 4:37
  all
• 4:37
  of
• 4:37
  that
• 4:37
  great
• 4:38
  data
• 4:38
  that
• 4:38
  we
• 4:38
  have
• 4:39
  and
• 4:40
  it's
• 4:40
  just,
• 4:40
  it's
• 4:40
  an
• 4:41
  amazing
• 4:41
  story
• 4:41
  for
• 4:41
  us.
• 4:41
  That's
• 4:42
  a
• 4:42
  steal
• 4:42
  of
• 4:42
  a
• 4:42
  deal.
• 4:42
  It's
• 4:43
  a
• 4:43
  steal
• 4:43
  of
• 4:43
  a
• 4:43
  deal.
• 4:43
  It's
• 4:44
  in
• 4:44
  the
• 4:44
  consideration
• 4:44
  set.
• 4:45
  Definitely
• 4:45
  a
• 4:46
  consideration
• 4:46
  set.
• 4:47
  Oh,
• 4:47
  my
• 4:47
  gosh.
• 4:47
  Well,
• 4:48
  one
• 4:49
  of
• 4:49
  the
• 4:49
  things
• 4:49
  that
• 4:49
  is
• 4:50
  a
• 4:50
  hot
• 4:50
  topic
• 4:51
  right
• 4:51
  now
• 4:51
  in
• 4:51
  the
• 4:51
  retail
• 4:52
  industry
• 4:52
  because
• 4:53
  of
• 4:53
  the
• 4:53
  revenue
• 4:53
  that
• 4:54
  can
• 4:54
  come
• 4:54
  from
• 4:55
  something
• 4:55
  like
• 4:56
  it
• 4:56
  are
• 4:57
  retail
• 4:57
  media
• 4:57
  networks.
• 4:58
  Yes.
• 4:58
  How
• 4:59
  does
• 4:59
  the
• 4:59
  marketplace
• 5:00
  kind
• 5:00
  of
• 5:01
  strategy
• 5:02
  merge
• 5:03
  with
• 5:03
  the
• 5:03
  retail
• 5:04
  media
• 5:04
  strategy?
• 5:05
  Like,
• 5:05
  where
• 5:05
  is
• 5:05
  that
• 5:05
  going
• 5:05
  to
• 5:05
  go?
• 5:06
  Oh,
• 5:06
  yes.
• 5:06
  So
• 5:06
  it
• 5:07
  is
• 5:07
  fully
• 5:08
  merging.
• 5:08
  So,
• 5:09
  okay,
• 5:09
  what
• 5:09
  we're
• 5:10
  looking
• 5:10
  at
• 5:10
  from
• 5:10
  bringing
• 5:11
  on
• 5:11
  our
• 5:11
  marketplace
• 5:12
  sellers,
• 5:12
  they're
• 5:12
  coming
• 5:13
  to
• 5:13
  us
• 5:13
  saying,
• 5:13
  we
• 5:13
  want
• 5:14
  to
• 5:14
  spend
• 5:14
  money
• 5:14
  in
• 5:15
  advertising,
• 5:16
  we
• 5:16
  want
• 5:16
  to
• 5:17
  promote
• 5:17
  our
• 5:17
  items
• 5:18
  because
• 5:18
  there's
• 5:18
  some
• 5:18
  of
• 5:18
  them
• 5:19
  are
• 5:19
  maybe
• 5:20
  a
• 5:20
  brand
• 5:20
  that
• 5:21
  they
• 5:21
  don't
• 5:21
  know,
• 5:21
  the
• 5:22
  customers
• 5:22
  don't
• 5:22
  understand,
• 5:22
  but
• 5:23
  they
• 5:23
  trust
• 5:23
  Lowe's.
• 5:24
  So
• 5:24
  if
• 5:24
  we
• 5:24
  can
• 5:25
  help
• 5:25
  kind
• 5:25
  of
• 5:25
  sponsor
• 5:25
  some
• 5:26
  of
• 5:26
  those
• 5:26
  ads,
• 5:26
  whether
• 5:26
  that's
• 5:27
  online,
• 5:27
  whether
• 5:27
  that's
• 5:28
  off,
• 5:28
  offline.
• 5:28
  So
• 5:28
  working
• 5:29
  directly
• 5:29
  with
• 5:29
  our
• 5:30
  media
• 5:30
  group
• 5:31
  to
• 5:31
  make
• 5:31
  sure
• 5:31
  we
• 5:31
  actually
• 5:32
  can
• 5:32
  promote
• 5:32
  that
• 5:33
  and
• 5:33
  actually
• 5:33
  working
• 5:33
  with
• 5:34
  miracle
• 5:35
  on
• 5:35
  seeing
• 5:36
  what
• 5:36
  we
• 5:36
  can
• 5:36
  do
• 5:36
  with
• 5:36
  them
• 5:36
  for
• 5:37
  those
• 5:37
  wonderful
• 5:38
  miracle
• 5:38
  ads
• 5:38
  that
• 5:38
  we're
• 5:39
  going
• 5:39
  to
• 5:39
  hopefully
• 5:39
  be
• 5:39
  selling
• 5:39
  soon.
• 5:40
  Yes.
• 5:42
  All
• 5:43
  in
• 5:43
  one
• 5:43
  spot,
• 5:43
  I
• 5:43
  think
• 5:43
  is
• 5:43
  amazing.
• 5:44
  Yeah.
• 5:45
  The
• 5:45
  one
• 5:45
  plus
• 5:45
  one
• 5:45
  dynamic,
• 5:46
  one
• 5:46
  plus
• 5:46
  one
• 5:46
  equals
• 5:47
  three
• 5:47
  dynamic
• 5:47
  of
• 5:47
  retail
• 5:48
  media
• 5:48
  and
• 5:49
  marketplaces
• 5:49
  is
• 5:49
  just
• 5:50
  unparalleled.
• 5:50
  It's
• 5:51
  huge.
• 5:51
  All
• 5:52
  right,
• 5:52
  well,
• 5:52
  let's
• 5:52
  get
• 5:52
  you
• 5:52
  out
• 5:52
  of
• 5:52
  here
• 5:52
  on
• 5:53
  this.
• 5:53
  So
• 5:54
  kind
• 5:54
  of
• 5:54
  a
• 5:54
  two
• 5:54
  part
• 5:54
  question
• 5:54
  to
• 5:55
  leave
• 5:55
  on.
• 5:55
  Okay.
• 5:56
  We've
• 5:56
  been
• 5:56
  asking
• 5:56
  everybody.
• 5:57
  So
• 5:57
  the
• 5:57
  theme
• 5:58
  of
• 5:58
  the
• 5:58
  conference
• 5:58
  is
• 5:58
  accelerate,
• 5:59
  Joe,
• 6:00
  as
• 6:00
  you
• 6:00
  know.
• 6:01
  So
• 6:01
  first
• 6:01
  question
• 6:02
  is,
• 6:02
  how
• 6:03
  do
• 6:03
  you
• 6:03
  want
• 6:04
  to
• 6:04
  accelerate
• 6:05
  your
• 6:05
  growth
• 6:05
  in
• 6:05
  the
• 6:05
  marketplace
• 6:06
  via
• 6:06
  retail
• 6:07
  media?
• 6:07
  That's
• 6:08
  number
• 6:08
  one.
• 6:08
  And
• 6:08
  then
• 6:08
  number
• 6:09
  two,
• 6:09
  how
• 6:09
  are
• 6:10
  you
• 6:10
  looking
• 6:10
  at
• 6:10
  AI
• 6:11
  to
• 6:11
  accelerate
• 6:11
  your
• 6:11
  marketplace
• 6:12
  growth
• 6:12
  as
• 6:12
  well?
• 6:13
  Okay,
• 6:14
  so
• 6:14
  first
• 6:14
  question,
• 6:15
  great
• 6:15
  question,
• 6:15
  by
• 6:16
  the
• 6:16
  way.
• 6:17
  Self
• 6:17
  service
• 6:18
  that
• 6:18
  I
• 6:18
  think
• 6:18
  is
• 6:19
  huge
• 6:19
  because
• 6:20
  people
• 6:20
  want
• 6:20
  to
• 6:21
  be,
• 6:21
  especially
• 6:21
  as
• 6:22
  a
• 6:22
  seller,
• 6:23
  they
• 6:23
  want
• 6:23
  to
• 6:23
  be
• 6:23
  able
• 6:24
  to
• 6:24
  say,
• 6:24
  okay,
• 6:24
  is
• 6:24
  this
• 6:25
  working?
• 6:25
  Is
• 6:25
  this
• 6:25
  sponsored
• 6:26
  ad
• 6:26
  working?
• 6:26
  Are
• 6:27
  these
• 6:27
  products
• 6:27
  working?
• 6:28
  Can
• 6:28
  I
• 6:28
  bump
• 6:28
  this
• 6:28
  up?
• 6:29
  Can
• 6:29
  I
• 6:29
  reinvest?
• 6:30
  That
• 6:30
  I
• 6:30
  think
• 6:30
  is
• 6:31
  great.
• 6:31
  And
• 6:31
  we
• 6:32
  want
• 6:32
  our
• 6:32
  sellers
• 6:32
  to
• 6:32
  be
• 6:32
  able
• 6:33
  to
• 6:33
  be
• 6:33
  the
• 6:34
  driver
• 6:34
  of
• 6:34
  their
• 6:34
  own
• 6:34
  business.
• 6:35
  And
• 6:35
  we
• 6:35
  also
• 6:35
  want
• 6:36
  to
• 6:36
  help
• 6:36
  these
• 6:36
  sellers.
• 6:36
  Right.
• 6:37
  If
• 6:37
  they
• 6:37
  can
• 6:37
  sell
• 6:37
  more
• 6:38
  through
• 6:38
  media.
• 6:38
  That's
• 6:39
  amazing.
• 6:39
  Yeah.
• 6:39
  So
• 6:39
  that's
• 6:40
  exactly
• 6:40
  what
• 6:40
  we
• 6:40
  want
• 6:40
  to
• 6:40
  do.
• 6:41
  Two,
• 6:41
  with
• 6:41
  AI.
• 6:42
  That
• 6:42
  is
• 6:43
  going
• 6:43
  to
• 6:43
  be
• 6:43
  a
• 6:43
  huge.
• 6:44
  We're
• 6:44
  utilizing
• 6:45
  AI
• 6:45
  in
• 6:45
  so
• 6:45
  many
• 6:46
  different
• 6:46
  ways.
• 6:46
  Okay.
• 6:47
  One,
• 6:47
  customers.
• 6:48
  So
• 6:48
  we
• 6:48
  have
• 6:49
  Milo,
• 6:49
  which
• 6:50
  is
• 6:50
  a
• 6:50
  great
• 6:51
  platform.
• 6:51
  It's
• 6:52
  right
• 6:52
  on
• 6:53
  our
• 6:53
  lowe's.com
• 6:54
  you
• 6:54
  can
• 6:55
  search
• 6:55
  anything
• 6:56
  from.
• 6:56
  And
• 6:56
  I
• 6:56
  did
• 6:57
  this.
• 6:57
  I'm
• 6:57
  like,
• 6:57
  how
• 6:58
  do
• 6:58
  I
• 6:58
  paint
• 6:58
  my
• 6:58
  cabinets?
• 6:59
  It
• 6:59
  gave
• 7:00
  me
• 7:00
  the
• 7:00
  paint,
• 7:00
  it
• 7:01
  gave
• 7:01
  me
• 7:01
  the
• 7:01
  primer,
• 7:02
  the
• 7:02
  color
• 7:02
  that
• 7:03
  I
• 7:03
  could
• 7:03
  purchase
• 7:03
  right
• 7:04
  then
• 7:04
  and
• 7:04
  there,
• 7:04
  which
• 7:04
  also
• 7:05
  includes
• 7:05
  3P
• 7:05
  items,
• 7:06
  which
• 7:06
  is
• 7:06
  amazing.
• 7:07
  Yeah.
• 7:07
  And
• 7:07
  then
• 7:07
  in
• 7:08
  store
• 7:08
  we
• 7:08
  have
• 7:09
  Milo's
• 7:09
  companion
• 7:10
  app,
• 7:10
  which
• 7:11
  can
• 7:11
  make
• 7:11
  you,
• 7:12
  let's
• 7:12
  just
• 7:12
  say,
• 7:12
  an
• 7:12
  expert
• 7:13
  into
• 7:13
  any
• 7:14
  aisle.
• 7:14
  So
• 7:14
  we
• 7:15
  work
• 7:15
  in
• 7:15
  stores
• 7:15
  sometimes
• 7:16
  as
• 7:16
  executives
• 7:17
  and
• 7:18
  so
• 7:18
  I
• 7:18
  don't
• 7:18
  know
• 7:18
  everything
• 7:19
  from
• 7:19
  rough
• 7:19
  plumbing,
• 7:19
  but
• 7:20
  I
• 7:20
  can
• 7:20
  go
• 7:20
  on
• 7:20
  the
• 7:20
  app
• 7:20
  and
• 7:20
  say,
• 7:21
  what
• 7:21
  is
• 7:21
  the
• 7:21
  best
• 7:22
  PVC
• 7:22
  pipe
• 7:23
  for
• 7:23
  X,
• 7:23
  Y
• 7:23
  and
• 7:23
  Z?
• 7:24
  I
• 7:24
  can
• 7:24
  go
• 7:25
  and
• 7:25
  ask
• 7:25
  that
• 7:25
  question
• 7:25
  and
• 7:26
  AI
• 7:26
  will
• 7:27
  help
• 7:27
  me
• 7:27
  guide
• 7:28
  that
• 7:28
  customer
• 7:28
  and
• 7:29
  give
• 7:29
  me
• 7:29
  that
• 7:29
  knowledge.
• 7:30
  So
• 7:30
  again,
• 7:30
  it's
• 7:31
  knowledge
• 7:31
  sharing.
• 7:32
  We
• 7:32
  want
• 7:32
  to
• 7:32
  be
• 7:32
  the
• 7:32
  most
• 7:32
  helpful,
• 7:33
  value
• 7:33
  driven
• 7:34
  home
• 7:34
  improvement
• 7:35
  retailer
• 7:35
  out
• 7:35
  there.
• 7:35
  And
• 7:36
  both
• 7:36
  of
• 7:36
  those
• 7:36
  really
• 7:36
  help
• 7:36
  it.
• 7:37
  Yeah.
• 7:37
  And
• 7:38
  to
• 7:38
  your
• 7:38
  point,
• 7:38
  like
• 7:38
  then.
• 7:39
  And
• 7:39
  that
• 7:39
  item
• 7:39
  may
• 7:39
  or
• 7:40
  may
• 7:40
  not
• 7:40
  be
• 7:40
  in
• 7:40
  the
• 7:40
  Lowe's
• 7:41
  store
• 7:41
  as
• 7:41
  well.
• 7:42
  And
• 7:42
  you
• 7:42
  can
• 7:42
  just
• 7:42
  get
• 7:42
  it
• 7:42
  on
• 7:42
  Lowe's
• 7:43
  dot
• 7:43
  com.
• 7:44
  Exactly.
• 7:45
  My
• 7:45
  other
• 7:45
  question
• 7:45
  for
• 7:46
  you
• 7:46
  is
• 7:46
  did
• 7:46
  you
• 7:46
  paint
• 7:47
  the
• 7:47
  cabinets
• 7:47
  and
• 7:47
  what
• 7:47
  color
• 7:48
  were
• 7:48
  they?
• 7:48
  Okay,
• 7:49
  so
• 7:49
  ended
• 7:49
  up
• 7:49
  not
• 7:50
  painting
• 7:50
  the
• 7:50
  cabinets.
• 7:51
  I
• 7:51
  wrapped
• 7:52
  my
• 7:52
  cabinets,
• 7:53
  which
• 7:53
  that
• 7:53
  is
• 7:54
  a
• 7:54
  really
• 7:54
  fun
• 7:54
  Trend
• 7:55
  finding
• 7:55
  on
• 7:55
  TikTok.
• 7:56
  Oh
• 7:56
  my
• 7:56
  God.
• 7:56
  So
• 7:57
  I
• 7:57
  have
• 7:57
  a
• 7:57
  nice
• 7:57
  little
• 7:57
  maple
• 7:58
  wrapped
• 7:58
  cabinet
• 7:59
  now.
• 7:59
  So
• 7:59
  instead
• 7:59
  of
• 7:59
  actually
• 8:00
  buying
• 8:00
  new
• 8:00
  ones,
• 8:01
  I
• 8:01
  was
• 8:01
  able
• 8:01
  to
• 8:01
  really
• 8:01
  reuse
• 8:02
  that,
• 8:02
  not
• 8:02
  use
• 8:03
  waste.
• 8:03
  So
• 8:03
  for
• 8:03
  me,
• 8:04
  that
• 8:04
  was
• 8:04
  a
• 8:04
  very
• 8:04
  exciting.
• 8:04
  I'll
• 8:05
  show
• 8:05
  you
• 8:05
  pictures
• 8:05
  after.
• 8:05
  Oh
• 8:05
  my
• 8:05
  God.
• 8:06
  Yeah,
• 8:06
  I
• 8:07
  want
• 8:07
  to
• 8:07
  see
• 8:07
  that.
• 8:07
  We'll
• 8:07
  have
• 8:07
  to
• 8:08
  post
• 8:08
  them
• 8:08
  for
• 8:08
  our
• 8:09
  listeners.
• 8:10
  Thank
• 8:10
  you
• 8:10
  so
• 8:10
  much,
• 8:11
  Joe.
• 8:11
  This
• 8:11
  is
• 8:12
  what
• 8:12
  been
• 8:12
  so
• 8:12
  insightful.
• 8:13
  I
• 8:13
  really
• 8:13
  appreciate
• 8:14
  your
• 8:14
  time.
• 8:15
  Thanks
• 8:15
  again
• 8:15
  to
• 8:16
  Miracle
• 8:16
  for
• 8:16
  having
• 8:17
  us
• 8:17
  here.
• 8:17
  Getting
• 8:18
  to
• 8:18
  interview
• 8:18
  great
• 8:19
  people
• 8:19
  all
• 8:19
  day.
• 8:20
  Stay
• 8:20
  tuned
• 8:20
  and
• 8:21
  until
• 8:21
  next
• 8:22
  time,
• 8:22
  be
• 8:22
  careful
• 8:23
  out
• 8:23
  there.