Latest / Omni Talk Retail / How Pandora Thinks About AI, Emotion, and the Future of Jewelry Retail | WRC 2026

Transcript

How Pandora Thinks About AI, Emotion, and the Future of Jewelry Retail | WRC 2026 · Omni Talk Retail

• 0:00
  Hello,
• 0:00
  everyone.
• 0:00
  This
• 0:00
  is
• 0:01
  omnitalk
• 0:01
  Retail.
• 0:01
  I'm
• 0:02
  Chris
• 0:02
  Walton
• 0:02
  and
• 0:02
  we're
• 0:03
  coming
• 0:03
  to
• 0:03
  you
• 0:03
  from
• 0:03
  the
• 0:03
  World
• 0:04
  Retail
• 0:04
  Congress
• 0:04
  in
• 0:05
  Berlin.
• 0:05
  Yes,
• 0:06
  folks,
• 0:06
  this
• 0:06
  week
• 0:06
  I
• 0:07
  am
• 0:07
  in
• 0:07
  Berlin
• 0:08
  and
• 0:08
  I'm
• 0:09
  once
• 0:09
  again
• 0:09
  standing
• 0:10
  in
• 0:10
  the
• 0:10
  exclusive
• 0:11
  Fusion
• 0:11
  podcast
• 0:12
  studio.
• 0:12
  Now
• 0:13
  joining
• 0:13
  me
• 0:13
  is
• 0:13
  David
• 0:14
  Boynton,
• 0:14
  the
• 0:14
  managing
• 0:15
  director
• 0:15
  of
• 0:15
  Northern
• 0:16
  Europe
• 0:16
  for
• 0:16
  Pandora.
• 0:17
  David,
• 0:18
  welcome.
• 0:18
  Hey,
• 0:19
  Chris.
• 0:19
  Great
• 0:19
  to
• 0:19
  be
• 0:19
  here.
• 0:20
  Thanks
• 0:20
  so
• 0:20
  much
• 0:20
  for
• 0:20
  having
• 0:20
  me.
• 0:21
  Yeah,
• 0:21
  thanks
• 0:21
  for
• 0:21
  kicking
• 0:21
  off
• 0:22
  our
• 0:22
  coverage
• 0:22
  here
• 0:22
  of
• 0:22
  World
• 0:22
  Retail
• 0:23
  Congress.
• 0:23
  Let's
• 0:24
  start
• 0:24
  off.
• 0:24
  Tell
• 0:24
  the
• 0:24
  audience
• 0:24
  about
• 0:25
  yourself
• 0:25
  and
• 0:25
  what
• 0:25
  brings
• 0:26
  you
• 0:26
  to
• 0:26
  wrc.
• 0:27
  Well,
• 0:27
  just
• 0:27
  in
• 0:28
  terms
• 0:28
  of,
• 0:28
  you
• 0:28
  know,
• 0:28
  as
• 0:28
  you
• 0:29
  mentioned,
• 0:29
  I'm
• 0:29
  at
• 0:29
  Pandora
• 0:30
  these
• 0:30
  days.
• 0:31
  I've
• 0:31
  done
• 0:31
  a
• 0:31
  whole
• 0:31
  bunch
• 0:31
  of
• 0:32
  different
• 0:32
  things.
• 0:32
  I've
• 0:32
  been
• 0:32
  the
• 0:32
  chief
• 0:32
  executive
• 0:33
  of
• 0:33
  the
• 0:33
  body
• 0:33
  shop
• 0:34
  of
• 0:34
  l',
• 0:34
  Occitane,
• 0:35
  of
• 0:35
  Charles
• 0:35
  Tyrwhitt.
• 0:37
  Some
• 0:37
  of
• 0:37
  your
• 0:37
  business
• 0:38
  dress
• 0:38
  wearers
• 0:39
  might.
• 0:39
  Might
• 0:39
  have
• 0:39
  used
• 0:40
  those
• 0:40
  shirts
• 0:40
  over
• 0:40
  the
• 0:40
  years.
• 0:41
  It's
• 0:41
  a
• 0:41
  great
• 0:42
  brand.
• 0:42
  So
• 0:42
  I've
• 0:43
  done
• 0:43
  a
• 0:43
  whole
• 0:43
  bunch
• 0:43
  of
• 0:43
  things.
• 0:43
  I
• 0:43
  started
• 0:44
  off
• 0:44
  in
• 0:44
  grocery
• 0:44
  many,
• 0:45
  many
• 0:45
  years
• 0:45
  ago.
• 0:45
  I'm
• 0:46
  one
• 0:46
  of
• 0:46
  those
• 0:46
  rare
• 0:46
  people
• 0:47
  who
• 0:47
  went
• 0:47
  from
• 0:48
  the
• 0:48
  shop
• 0:48
  floor
• 0:48
  to
• 0:48
  the
• 0:48
  boardroom
• 0:49
  and
• 0:49
  then
• 0:50
  back
• 0:50
  again
• 0:50
  to
• 0:50
  the
• 0:50
  shop
• 0:50
  floor.
• 0:51
  That's
• 0:51
  what
• 0:51
  I'm
• 0:51
  doing
• 0:51
  now.
• 0:52
  So
• 0:52
  it's.
• 0:52
  It's
• 0:52
  been
• 0:53
  a
• 0:53
  fun
• 0:53
  journey.
• 0:54
  So
• 0:54
  why
• 0:54
  am
• 0:54
  I
• 0:54
  here
• 0:55
  at
• 0:55
  wrc?
• 0:55
  There's
• 0:56
  so
• 0:56
  much
• 0:56
  new
• 0:56
  stuff
• 0:57
  going
• 0:57
  on,
• 0:57
  right?
• 0:57
  I
• 0:57
  mean,
• 0:58
  in
• 0:58
  terms
• 0:58
  of
• 0:58
  everything
• 0:58
  around
• 0:59
  AI,
• 0:59
  We've
• 1:00
  been
• 1:00
  hearing
• 1:00
  about
• 1:00
  this
• 1:00
  for
• 1:01
  ages,
• 1:01
  but
• 1:01
  what
• 1:01
  does
• 1:02
  it
• 1:02
  really
• 1:02
  mean?
• 1:02
  Agentic.
• 1:04
  People
• 1:04
  keep
• 1:04
  talking
• 1:05
  to
• 1:05
  me
• 1:05
  about
• 1:05
  agentic.
• 1:06
  I
• 1:06
  have
• 1:06
  no
• 1:06
  idea
• 1:06
  what
• 1:07
  that
• 1:07
  meant
• 1:07
  until
• 1:07
  I
• 1:08
  started
• 1:08
  a
• 1:08
  session
• 1:08
  with
• 1:09
  the
• 1:09
  McKinsey
• 1:10
  folks
• 1:10
  yesterday.
• 1:10
  So
• 1:11
  there's
• 1:11
  super
• 1:11
  interesting
• 1:12
  things
• 1:12
  going
• 1:13
  on
• 1:13
  at
• 1:13
  the
• 1:13
  intersection
• 1:14
  of
• 1:14
  digital
• 1:14
  and
• 1:14
  human
• 1:15
  in
• 1:15
  stores.
• 1:16
  I
• 1:16
  love
• 1:16
  stores
• 1:16
  and
• 1:16
  I
• 1:17
  want
• 1:17
  to
• 1:17
  understand
• 1:17
  more
• 1:17
  about
• 1:17
  the
• 1:18
  digital
• 1:18
  component.
• 1:18
  Yeah,
• 1:19
  yeah,
• 1:19
  no,
• 1:19
  that's
• 1:19
  great.
• 1:19
  Yeah.
• 1:20
  I
• 1:20
  was
• 1:20
  looking
• 1:20
  at
• 1:20
  your
• 1:20
  resume
• 1:21
  the
• 1:21
  other
• 1:21
  day.
• 1:21
  You
• 1:21
  started
• 1:21
  in
• 1:22
  Safeway,
• 1:22
  right?
• 1:23
  I
• 1:23
  did.
• 1:23
  Started
• 1:24
  in
• 1:24
  grocery.
• 1:24
  Yeah.
• 1:24
  I
• 1:24
  actually
• 1:25
  asked
• 1:25
  a
• 1:25
  buddy
• 1:25
  of
• 1:25
  mine,
• 1:25
  I
• 1:25
  was
• 1:25
  like,
• 1:25
  did
• 1:26
  you
• 1:26
  know
• 1:26
  him
• 1:26
  from
• 1:26
  your
• 1:26
  time
• 1:26
  back
• 1:27
  in
• 1:27
  Safeway?
• 1:27
  And
• 1:27
  yeah,
• 1:28
  now
• 1:28
  you're
• 1:28
  leading
• 1:28
  a
• 1:28
  jewelry
• 1:29
  company.
• 1:30
  It's
• 1:30
  funny
• 1:30
  how
• 1:30
  that
• 1:30
  plays
• 1:30
  out.
• 1:31
  It's
• 1:31
  amazing
• 1:31
  how
• 1:31
  it
• 1:31
  works.
• 1:32
  Yeah.
• 1:32
  Amazing
• 1:32
  how
• 1:32
  it
• 1:32
  works.
• 1:33
  And
• 1:33
  I
• 1:33
  even
• 1:33
  went
• 1:33
  to
• 1:33
  Oakland
• 1:34
  once
• 1:34
  to
• 1:35
  meet
• 1:35
  Safeway.
• 1:35
  We'd
• 1:36
  separated
• 1:36
  the
• 1:37
  UK
• 1:37
  Safeway.
• 1:37
  It
• 1:38
  wasn't
• 1:38
  the
• 1:38
  same,
• 1:38
  but
• 1:39
  I
• 1:39
  did
• 1:39
  once
• 1:39
  go
• 1:39
  to
• 1:40
  HQ
• 1:40
  of
• 1:40
  Safeway.
• 1:41
  I
• 1:41
  did
• 1:41
  the
• 1:41
  pilgrimage
• 1:42
  to
• 1:42
  Oakland.
• 1:43
  It
• 1:43
  was
• 1:43
  a
• 1:43
  great
• 1:43
  brand
• 1:44
  back
• 1:44
  in
• 1:44
  the
• 1:44
  day.
• 1:44
  It's
• 1:44
  funny
• 1:45
  how
• 1:45
  retail
• 1:45
  works.
• 1:46
  Retail
• 1:46
  is
• 1:46
  a
• 1:47
  very
• 1:48
  business
• 1:48
  where
• 1:48
  you
• 1:49
  tend
• 1:49
  to
• 1:50
  cross
• 1:50
  paths
• 1:50
  with
• 1:51
  very
• 1:51
  similar
• 1:51
  people
• 1:52
  throughout
• 1:52
  the
• 1:52
  course
• 1:52
  of
• 1:53
  your
• 1:53
  career.
• 1:53
  So.
• 1:54
  All
• 1:54
  right,
• 1:54
  so
• 1:54
  I
• 1:55
  got
• 1:55
  to
• 1:55
  ask
• 1:55
  you,
• 1:55
  you
• 1:55
  know,
• 1:55
  you're
• 1:56
  in
• 1:56
  an
• 1:56
  interesting
• 1:56
  white
• 1:56
  space
• 1:57
  in
• 1:57
  Pandora.
• 1:58
  You
• 1:58
  know,
• 1:58
  the
• 1:59
  economy's
• 1:59
  under
• 1:59
  pressure.
• 2:01
  Do
• 2:01
  you
• 2:01
  think
• 2:01
  that
• 2:02
  given
• 2:02
  where
• 2:02
  you
• 2:03
  where
• 2:03
  Pandora's
• 2:04
  position,
• 2:04
  do
• 2:04
  you
• 2:04
  think
• 2:05
  the
• 2:05
  macroeconomic
• 2:06
  pressures
• 2:06
  are
• 2:06
  more
• 2:07
  of
• 2:07
  a
• 2:07
  hindrance
• 2:08
  for
• 2:08
  what
• 2:08
  you're
• 2:08
  trying
• 2:08
  to
• 2:08
  do,
• 2:09
  or
• 2:09
  are
• 2:09
  they
• 2:09
  more
• 2:09
  of
• 2:09
  a
• 2:09
  benefit
• 2:10
  for
• 2:10
  what
• 2:10
  you're
• 2:10
  trying
• 2:10
  to
• 2:11
  do?
• 2:11
  Look,
• 2:12
  we're
• 2:12
  definitely
• 2:12
  seeing
• 2:12
  evidence
• 2:13
  in
• 2:13
  some
• 2:13
  markets
• 2:13
  of
• 2:14
  trading
• 2:14
  down.
• 2:14
  You
• 2:14
  know,
• 2:15
  the
• 2:15
  folks
• 2:15
  who
• 2:15
  used
• 2:15
  to
• 2:15
  shop
• 2:16
  at
• 2:16
  Tiffany
• 2:17
  are
• 2:17
  shopping
• 2:17
  at
• 2:17
  Pandora
• 2:18
  somewhat.
• 2:19
  Okay,
• 2:19
  right.
• 2:19
  So
• 2:20
  that,
• 2:20
  that's
• 2:20
  good,
• 2:20
  that's
• 2:21
  good
• 2:21
  news.
• 2:21
  And
• 2:21
  we're
• 2:22
  tracking
• 2:22
  that
• 2:22
  and
• 2:22
  it's
• 2:22
  something
• 2:23
  that
• 2:23
  we're
• 2:23
  really
• 2:23
  paying
• 2:23
  attention
• 2:24
  to.
• 2:24
  But
• 2:25
  when
• 2:25
  the
• 2:25
  consumer
• 2:26
  is
• 2:26
  squeezed
• 2:26
  and
• 2:27
  there's
• 2:27
  less
• 2:27
  disposable
• 2:28
  income
• 2:28
  in
• 2:28
  the
• 2:28
  economy,
• 2:29
  it's
• 2:30
  harder
• 2:30
  for
• 2:30
  everyone.
• 2:30
  Right.
• 2:31
  So
• 2:31
  you've
• 2:31
  really
• 2:31
  got
• 2:31
  to
• 2:32
  focus
• 2:32
  on
• 2:32
  the
• 2:32
  core
• 2:32
  competencies
• 2:33
  of
• 2:33
  the
• 2:33
  business,
• 2:34
  what
• 2:34
  makes
• 2:34
  your
• 2:34
  brand
• 2:35
  unique
• 2:35
  and
• 2:35
  differentiated,
• 2:36
  and
• 2:37
  really
• 2:37
  make
• 2:37
  sure
• 2:37
  you're
• 2:38
  getting
• 2:38
  those
• 2:38
  things
• 2:38
  done
• 2:39
  to
• 2:39
  the
• 2:39
  highest
• 2:39
  possible
• 2:40
  standard.
• 2:40
  Got
• 2:40
  it.
• 2:41
  All
• 2:41
  right,
• 2:41
  so
• 2:41
  Northern
• 2:42
  Europe,
• 2:42
  that's
• 2:42
  the
• 2:42
  area
• 2:43
  you
• 2:43
  oversee.
• 2:43
  Absolutely.
• 2:44
  What
• 2:44
  does
• 2:44
  that
• 2:44
  all
• 2:44
  entail?
• 2:45
  What
• 2:45
  is
• 2:45
  northern
• 2:45
  Europe
• 2:46
  technically
• 2:46
  on
• 2:47
  the
• 2:47
  geography
• 2:48
  map
• 2:48
  of
• 2:48
  Pandora?
• 2:49
  It's
• 2:49
  one
• 2:49
  of
• 2:49
  those
• 2:49
  great
• 2:50
  questions.
• 2:50
  I
• 2:50
  mean,
• 2:50
  people
• 2:50
  keep
• 2:51
  writing
• 2:51
  to
• 2:51
  me
• 2:51
  from
• 2:51
  the
• 2:51
  UK
• 2:52
  and
• 2:52
  say,
• 2:52
  hey,
• 2:52
  can
• 2:52
  we
• 2:52
  meet
• 2:53
  to
• 2:53
  talk
• 2:53
  about
• 2:53
  stores?
• 2:54
  So
• 2:54
  now,
• 2:54
  sorry,
• 2:54
  but
• 2:55
  the
• 2:55
  UK
• 2:55
  is
• 2:55
  not
• 2:55
  in
• 2:56
  Northern
• 2:56
  Europe.
• 2:56
  No
• 2:56
  way.
• 2:56
  Really?
• 2:57
  Yeah,
• 2:57
  yeah.
• 2:57
  Oh,
• 2:57
  my
• 2:57
  God.
• 2:57
  How
• 2:58
  about
• 2:58
  France?
• 2:58
  How
• 2:58
  about
• 2:58
  France?
• 2:59
  I
• 2:59
  mean,
• 2:59
  can
• 2:59
  you
• 2:59
  come
• 2:59
  and
• 2:59
  see
• 3:00
  me
• 3:00
  in
• 3:00
  France?
• 3:00
  We've
• 3:00
  got
• 3:00
  some
• 3:00
  sorts
• 3:01
  of.
• 3:01
  No,
• 3:01
  France
• 3:02
  is
• 3:02
  not
• 3:02
  in
• 3:02
  Northern
• 3:02
  Europe.
• 3:03
  So
• 3:03
  we
• 3:03
  have
• 3:03
  a
• 3:03
  very
• 3:04
  specific
• 3:04
  definition
• 3:05
  in
• 3:05
  Northern
• 3:05
  Europe.
• 3:06
  Okay.
• 3:06
  So
• 3:07
  it's
• 3:07
  Germany,
• 3:07
  Austria
• 3:08
  and
• 3:08
  Switzerland.
• 3:09
  Okay.
• 3:10
  We
• 3:10
  call
• 3:10
  that
• 3:10
  the
• 3:10
  Dach,
• 3:11
  to
• 3:11
  get
• 3:11
  the
• 3:12
  correct
• 3:12
  German
• 3:12
  pronunciation,
• 3:13
  the
• 3:13
  Dach
• 3:13
  cluster.
• 3:14
  Then
• 3:14
  we
• 3:15
  have
• 3:15
  Benelux,
• 3:15
  so
• 3:16
  Belgium,
• 3:16
  Luxembourg
• 3:17
  and
• 3:17
  the
• 3:18
  Netherlands,
• 3:18
  of
• 3:18
  course.
• 3:18
  And
• 3:18
  then
• 3:19
  we
• 3:19
  have
• 3:19
  the
• 3:19
  whole
• 3:19
  of
• 3:19
  the
• 3:19
  Nordics.
• 3:20
  So
• 3:20
  geographically
• 3:21
  it's,
• 3:21
  it's
• 3:22
  enormous.
• 3:22
  The
• 3:23
  central
• 3:23
  market,
• 3:23
  of
• 3:23
  course,
• 3:24
  is
• 3:24
  Germany.
• 3:24
  You
• 3:24
  know,
• 3:25
  80
• 3:25
  plus
• 3:25
  million
• 3:25
  people,
• 3:26
  third
• 3:26
  biggest
• 3:27
  economy
• 3:27
  in
• 3:27
  the
• 3:27
  world,
• 3:27
  richest
• 3:28
  economy
• 3:28
  in
• 3:29
  Europe.
• 3:29
  So,
• 3:29
  you
• 3:30
  know,
• 3:30
  it's
• 3:30
  a
• 3:30
  battleground
• 3:30
  where
• 3:31
  Pandora
• 3:31
  really
• 3:31
  has
• 3:31
  to
• 3:31
  win.
• 3:32
  So
• 3:32
  are
• 3:32
  you
• 3:32
  based
• 3:32
  in
• 3:32
  Germany
• 3:33
  then?
• 3:33
  I
• 3:34
  just
• 3:34
  moved
• 3:34
  to
• 3:34
  Hamburg.
• 3:35
  Okay.
• 3:35
  Yeah,
• 3:35
  I
• 3:35
  just
• 3:35
  moved
• 3:36
  to
• 3:36
  Hamburg
• 3:36
  about
• 3:36
  five
• 3:36
  or
• 3:37
  six
• 3:37
  weeks
• 3:37
  ago.
• 3:37
  I'm
• 3:37
  super
• 3:38
  new
• 3:38
  in
• 3:38
  the
• 3:38
  role.
• 3:38
  Hamburg,
• 3:39
  oh
• 3:39
  my
• 3:39
  goodness,
• 3:40
  if
• 3:40
  you've
• 3:40
  never
• 3:40
  been,
• 3:41
  what
• 3:41
  a
• 3:41
  beautiful
• 3:42
  city.
• 3:42
  It's
• 3:43
  all
• 3:43
  built
• 3:43
  around
• 3:43
  a
• 3:43
  lake.
• 3:44
  You
• 3:44
  know,
• 3:44
  I
• 3:44
  had
• 3:44
  this
• 3:44
  image
• 3:44
  of
• 3:45
  Hamburg
• 3:45
  from
• 3:45
  the
• 3:45
  Beatles.
• 3:46
  I
• 3:46
  thought
• 3:46
  it
• 3:46
  was
• 3:47
  all
• 3:47
  bars
• 3:47
  and
• 3:48
  all
• 3:48
  of
• 3:48
  that
• 3:48
  stuff.
• 3:49
  You
• 3:49
  know
• 3:49
  what
• 3:49
  I
• 3:49
  mean?
• 3:50
  I'm
• 3:50
  not
• 3:50
  going
• 3:50
  to
• 3:50
  go
• 3:50
  into
• 3:50
  that,
• 3:51
  but
• 3:51
  it's
• 3:51
  not
• 3:51
  like
• 3:51
  that.
• 3:52
  At
• 3:52
  all.
• 3:52
  It's
• 3:52
  absolutely
• 3:53
  gorgeous.
• 3:53
  The
• 3:54
  only
• 3:54
  negative
• 3:54
  about
• 3:54
  Hamburg
• 3:55
  is
• 3:55
  they
• 3:56
  have
• 3:56
  this
• 3:56
  thing
• 3:56
  called
• 3:56
  Scheetvetter.
• 3:57
  That's
• 3:58
  the
• 3:58
  German.
• 3:58
  There's
• 3:59
  actually
• 3:59
  a
• 3:59
  ruder
• 3:59
  version
• 4:00
  than
• 4:00
  that.
• 4:00
  But
• 4:00
  Scheetvetter
• 4:01
  is
• 4:01
  just
• 4:01
  terrible
• 4:02
  weather.
• 4:02
  It
• 4:03
  rains
• 4:03
  all
• 4:03
  the
• 4:03
  time
• 4:04
  and
• 4:04
  it's
• 4:04
  gray.
• 4:04
  And
• 4:04
  I
• 4:04
  always
• 4:05
  swore
• 4:05
  that
• 4:05
  I
• 4:05
  would
• 4:06
  never
• 4:06
  live
• 4:06
  in
• 4:06
  a
• 4:06
  place
• 4:06
  where
• 4:06
  it
• 4:07
  rained
• 4:07
  all
• 4:07
  the
• 4:07
  time.
• 4:07
  Unfortunately,
• 4:08
  somehow
• 4:08
  I
• 4:09
  got
• 4:09
  stuck
• 4:09
  there.
• 4:09
  So
• 4:10
  anyway,
• 4:10
  that's
• 4:10
  life,
• 4:11
  right?
• 4:11
  Wow.
• 4:11
  Wow.
• 4:11
  All
• 4:12
  right,
• 4:12
  great.
• 4:12
  I
• 4:12
  love
• 4:12
  doing
• 4:13
  this
• 4:13
  job
• 4:13
  because
• 4:13
  you
• 4:13
  never
• 4:13
  know
• 4:13
  what
• 4:13
  you're
• 4:14
  going
• 4:14
  to
• 4:14
  talk
• 4:14
  about.
• 4:14
  All
• 4:14
  right,
• 4:14
  so.
• 4:15
  So
• 4:15
  the
• 4:15
  reason
• 4:15
  I
• 4:15
  asked
• 4:15
  that
• 4:16
  question
• 4:16
  is
• 4:16
  because
• 4:16
  northern
• 4:17
  Europe,
• 4:17
  generally
• 4:17
  speaking,
• 4:18
  depending
• 4:19
  almost
• 4:20
  regardless
• 4:20
  of
• 4:20
  how
• 4:20
  you
• 4:20
  want
• 4:20
  to
• 4:21
  define
• 4:21
  it,
• 4:21
  it's
• 4:21
  a
• 4:21
  very
• 4:21
  competitive
• 4:23
  digitally
• 4:23
  forward
• 4:24
  market.
• 4:25
  So
• 4:25
  where
• 4:25
  do
• 4:25
  you
• 4:26
  think
• 4:26
  you're
• 4:26
  under
• 4:26
  penetrated
• 4:27
  at
• 4:27
  Pandora
• 4:27
  and
• 4:28
  what
• 4:28
  do
• 4:28
  you
• 4:28
  think
• 4:28
  is
• 4:28
  the
• 4:28
  single
• 4:29
  biggest
• 4:29
  growth
• 4:29
  lever
• 4:30
  that
• 4:30
  you
• 4:30
  want
• 4:30
  to
• 4:30
  pull
• 4:30
  here
• 4:31
  in
• 4:31
  the
• 4:31
  next
• 4:31
  few
• 4:31
  years?
• 4:31
  Yeah,
• 4:32
  sure,
• 4:32
  look,
• 4:33
  we
• 4:33
  have
• 4:33
  lots
• 4:33
  of
• 4:33
  shops,
• 4:34
  right?
• 4:34
  So
• 4:34
  we're
• 4:34
  very
• 4:35
  well
• 4:35
  distributed
• 4:35
  from
• 4:35
  a
• 4:36
  shop
• 4:36
  point
• 4:36
  of
• 4:36
  view.
• 4:37
  I
• 4:37
  think
• 4:37
  what's
• 4:37
  interesting
• 4:38
  for
• 4:38
  us
• 4:38
  is
• 4:38
  pretty
• 4:38
  much
• 4:38
  every
• 4:39
  city
• 4:39
  in
• 4:39
  Germany,
• 4:39
  if
• 4:40
  we
• 4:40
  focus
• 4:40
  on
• 4:40
  that
• 4:40
  as
• 4:40
  the
• 4:40
  main
• 4:41
  market,
• 4:41
  we
• 4:42
  are
• 4:42
  present
• 4:42
  to
• 4:42
  some
• 4:43
  extent.
• 4:44
  So
• 4:44
  the
• 4:44
  question
• 4:45
  for
• 4:45
  us
• 4:45
  is,
• 4:45
  can
• 4:45
  there
• 4:45
  be
• 4:46
  a
• 4:46
  second
• 4:46
  store?
• 4:46
  Quite
• 4:47
  often
• 4:47
  because
• 4:47
  of
• 4:48
  the
• 4:48
  decentralization
• 4:49
  of
• 4:49
  Germany,
• 4:49
  you
• 4:49
  have
• 4:50
  a
• 4:50
  lot
• 4:50
  of
• 4:50
  smaller
• 4:51
  but
• 4:51
  very
• 4:51
  affluent
• 4:52
  cities.
• 4:52
  So
• 4:53
  Dusseldorf,
• 4:53
  we
• 4:54
  have
• 4:54
  one
• 4:54
  store.
• 4:54
  That
• 4:54
  doesn't
• 4:55
  make
• 4:55
  sense.
• 4:55
  Dusseldorf,
• 4:56
  such
• 4:56
  a
• 4:56
  great
• 4:56
  city,
• 4:57
  we
• 4:57
  can
• 4:57
  have
• 4:57
  a
• 4:57
  second
• 4:58
  store.
• 4:58
  So
• 4:58
  there's
• 4:59
  no
• 4:59
  question
• 4:59
  that
• 4:59
  part
• 4:59
  of
• 4:59
  the
• 5:00
  future
• 5:01
  expansion
• 5:02
  and
• 5:02
  penetration
• 5:03
  is
• 5:03
  going
• 5:03
  to
• 5:03
  come
• 5:03
  from
• 5:04
  opening
• 5:04
  our
• 5:04
  own
• 5:05
  stores.
• 5:05
  We
• 5:06
  have
• 5:06
  a
• 5:06
  great
• 5:06
  website
• 5:07
  already,
• 5:07
  so
• 5:08
  we
• 5:08
  have
• 5:09
  a
• 5:09
  big
• 5:09
  share
• 5:09
  Pandora
• 5:10
  generally
• 5:10
  around
• 5:11
  the
• 5:11
  world,
• 5:11
  but
• 5:12
  specifically
• 5:12
  in
• 5:13
  my
• 5:13
  cluster,
• 5:13
  we're
• 5:13
  more
• 5:13
  than
• 5:14
  30%
• 5:14
  of
• 5:14
  sales,
• 5:15
  which
• 5:15
  is
• 5:15
  kind
• 5:15
  of
• 5:16
  surprising,
• 5:16
  right?
• 5:16
  For
• 5:17
  a
• 5:17
  very
• 5:17
  emotional
• 5:18
  jewelry
• 5:18
  purchase.
• 5:19
  More
• 5:19
  than
• 5:20
  30%
• 5:20
  of
• 5:20
  our
• 5:20
  transactions
• 5:21
  are
• 5:21
  happening
• 5:21
  online.
• 5:22
  Now
• 5:22
  we're
• 5:22
  pretty
• 5:23
  clear
• 5:23
  that
• 5:23
  the
• 5:23
  majority
• 5:24
  of
• 5:24
  those
• 5:24
  folks
• 5:25
  have
• 5:25
  been
• 5:26
  recruited
• 5:26
  through
• 5:26
  the
• 5:26
  stores.
• 5:27
  So
• 5:28
  the
• 5:28
  omnichannel
• 5:29
  aspect
• 5:29
  of
• 5:29
  it
• 5:29
  is
• 5:30
  incredibly
• 5:30
  important
• 5:30
  to
• 5:31
  us.
• 5:31
  But
• 5:31
  we're
• 5:32
  also
• 5:32
  on
• 5:32
  marketplaces,
• 5:34
  we
• 5:34
  have
• 5:35
  a
• 5:35
  presence
• 5:35
  on
• 5:35
  Amazon
• 5:36
  through
• 5:36
  a
• 5:36
  partner
• 5:38
  and
• 5:38
  we
• 5:38
  work
• 5:39
  with
• 5:39
  other
• 5:40
  multi
• 5:40
  brand
• 5:40
  jewelry
• 5:41
  brands
• 5:42
  not
• 5:42
  in
• 5:42
  all
• 5:42
  of
• 5:42
  their
• 5:43
  stores.
• 5:43
  So
• 5:43
  there's
• 5:43
  almost
• 5:43
  certainly
• 5:44
  an
• 5:44
  opportunity
• 5:45
  to
• 5:45
  be
• 5:45
  in
• 5:46
  more
• 5:46
  of
• 5:46
  their
• 5:46
  stores
• 5:47
  going
• 5:47
  forward.
• 5:47
  So.
• 5:47
  So
• 5:48
  although
• 5:48
  we're
• 5:48
  relatively
• 5:49
  mature,
• 5:51
  we
• 5:51
  still
• 5:51
  see
• 5:52
  a
• 5:52
  lot
• 5:52
  of
• 5:52
  opportunities
• 5:52
  for
• 5:53
  growth
• 5:53
  in
• 5:53
  the,
• 5:53
  in
• 5:53
  the
• 5:53
  region.
• 5:54
  Interesting.
• 5:54
  And
• 5:54
  so
• 5:54
  it's
• 5:54
  going
• 5:54
  to
• 5:55
  come
• 5:55
  through
• 5:55
  physical
• 5:55
  sources.
• 5:55
  70%
• 5:56
  of
• 5:56
  the
• 5:56
  volume
• 5:57
  still
• 5:57
  coming
• 5:57
  through
• 5:57
  physical
• 5:58
  retail.
• 5:58
  So
• 5:58
  what
• 5:59
  role.
• 5:59
  So
• 5:59
  you
• 5:59
  mentioned,
• 5:59
  you
• 6:00
  mentioned
• 6:00
  kind
• 6:00
  of
• 6:00
  the,
• 6:00
  the
• 6:01
  branding
• 6:01
  or
• 6:01
  the
• 6:01
  initial
• 6:02
  maybe
• 6:02
  impression
• 6:03
  that
• 6:03
  the
• 6:03
  consumer
• 6:03
  has
• 6:04
  with
• 6:04
  the
• 6:04
  Pandora
• 6:04
  brand,
• 6:05
  what
• 6:05
  role
• 6:05
  does
• 6:06
  the
• 6:06
  store
• 6:06
  play
• 6:06
  as
• 6:07
  you
• 6:07
  define
• 6:07
  it
• 6:08
  from
• 6:08
  your
• 6:08
  position
• 6:09
  of
• 6:09
  leadership?
• 6:10
  Yeah,
• 6:10
  look
• 6:11
  really,
• 6:11
  for
• 6:11
  me
• 6:12
  it's
• 6:12
  where
• 6:12
  the
• 6:12
  stories
• 6:13
  can
• 6:13
  come
• 6:13
  to
• 6:13
  life,
• 6:14
  right?
• 6:14
  I
• 6:14
  mean
• 6:15
  Pandora
• 6:15
  is
• 6:15
  an
• 6:16
  extremely
• 6:16
  emotional
• 6:17
  brand.
• 6:17
  It's
• 6:17
  not
• 6:17
  like
• 6:18
  other
• 6:18
  jewelry
• 6:18
  brands.
• 6:19
  We
• 6:19
  like
• 6:19
  to
• 6:19
  talk
• 6:19
  about
• 6:20
  it
• 6:20
  as
• 6:20
  being
• 6:20
  kind
• 6:20
  of
• 6:20
  the
• 6:21
  apple
• 6:21
  of
• 6:21
  jewelry.
• 6:22
  We
• 6:22
  have
• 6:22
  a
• 6:23
  system,
• 6:23
  we
• 6:23
  have
• 6:23
  an
• 6:23
  ecosystem
• 6:24
  that
• 6:24
  once
• 6:24
  you're
• 6:25
  in
• 6:25
  it,
• 6:25
  you
• 6:25
  really
• 6:25
  want
• 6:26
  to
• 6:26
  stay
• 6:26
  in
• 6:26
  it.
• 6:27
  Super
• 6:27
  interesting.
• 6:28
  It's
• 6:28
  honestly
• 6:29
  one
• 6:29
  of
• 6:29
  the
• 6:29
  most
• 6:29
  fascinating
• 6:30
  brands
• 6:30
  that
• 6:30
  I've
• 6:31
  worked
• 6:31
  for.
• 6:31
  But
• 6:31
  I
• 6:31
  mean,
• 6:32
  I'll
• 6:32
  give
• 6:32
  you
• 6:32
  an
• 6:32
  example
• 6:32
  of,
• 6:33
  you
• 6:33
  know,
• 6:34
  the
• 6:34
  human
• 6:34
  element
• 6:35
  of
• 6:35
  it.
• 6:36
  So
• 6:36
  we're
• 6:37
  really
• 6:37
  doubling
• 6:37
  down
• 6:37
  on
• 6:37
  engraving.
• 6:38
  We
• 6:38
  see,
• 6:38
  you
• 6:38
  know,
• 6:38
  aside
• 6:39
  from
• 6:39
  the
• 6:39
  pre
• 6:39
  made
• 6:40
  charms
• 6:40
  that
• 6:40
  are
• 6:41
  made
• 6:41
  by
• 6:41
  hand
• 6:41
  in
• 6:41
  our
• 6:42
  factories
• 6:42
  in
• 6:42
  Southeast
• 6:43
  Asia,
• 6:43
  with
• 6:43
  amazing
• 6:44
  artisans.
• 6:44
  Outside
• 6:45
  of
• 6:45
  that,
• 6:46
  we
• 6:46
  have
• 6:46
  a
• 6:46
  big
• 6:46
  opportunity,
• 6:47
  we
• 6:47
  believe,
• 6:47
  around
• 6:48
  using
• 6:48
  engraving
• 6:48
  to
• 6:49
  tell
• 6:49
  stories.
• 6:49
  I
• 6:49
  was
• 6:49
  in
• 6:50
  a
• 6:50
  store
• 6:50
  in
• 6:50
  Dusseldorf
• 6:51
  two
• 6:51
  weeks
• 6:51
  ago.
• 6:52
  Two
• 6:52
  grandparents
• 6:53
  came
• 6:53
  in
• 6:53
  with
• 6:53
  their
• 6:54
  granddaughter.
• 6:54
  They
• 6:54
  were
• 6:55
  in
• 6:55
  their
• 6:55
  late
• 6:55
  70s.
• 6:57
  They
• 6:57
  were
• 6:57
  talking
• 6:57
  to
• 6:57
  us
• 6:58
  about
• 6:58
  how
• 6:58
  they
• 6:58
  wanted
• 6:58
  to
• 6:59
  have
• 6:59
  something
• 6:59
  that
• 6:59
  marked
• 7:00
  their
• 7:00
  relationship
• 7:00
  with
• 7:00
  their
• 7:00
  granddaughter.
• 7:01
  They
• 7:02
  went
• 7:02
  to
• 7:02
  the
• 7:02
  engraving
• 7:02
  machine
• 7:03
  and
• 7:03
  the
• 7:03
  grandmother
• 7:03
  on
• 7:04
  one
• 7:04
  side,
• 7:04
  because
• 7:05
  you
• 7:05
  can
• 7:05
  do
• 7:05
  this
• 7:05
  in
• 7:05
  your
• 7:05
  own
• 7:06
  handwriting
• 7:06
  on
• 7:06
  an
• 7:06
  iPad.
• 7:07
  The
• 7:08
  grandmother
• 7:08
  wrote
• 7:08
  a
• 7:08
  message
• 7:09
  about
• 7:09
  how
• 7:09
  much
• 7:09
  she
• 7:09
  loved
• 7:10
  her
• 7:10
  granddaughter
• 7:10
  and
• 7:11
  how
• 7:11
  precious
• 7:11
  she
• 7:11
  was
• 7:12
  to
• 7:12
  her.
• 7:12
  And
• 7:12
  then
• 7:12
  the
• 7:12
  grandfather
• 7:13
  wrote
• 7:13
  his
• 7:14
  own
• 7:14
  message
• 7:14
  on
• 7:14
  the
• 7:14
  other
• 7:15
  side
• 7:15
  of
• 7:15
  the
• 7:15
  charm.
• 7:15
  Right.
• 7:16
  I
• 7:16
  mean,
• 7:16
  honestly
• 7:16
  I
• 7:17
  was
• 7:17
  watching
• 7:17
  this
• 7:17
  and
• 7:17
  I
• 7:17
  was
• 7:18
  like
• 7:18
  sobbing.
• 7:19
  Right.
• 7:19
  And
• 7:19
  it
• 7:19
  was
• 7:20
  so
• 7:20
  beautiful,
• 7:20
  it
• 7:20
  was
• 7:21
  so
• 7:21
  emotional.
• 7:22
  And
• 7:22
  then
• 7:22
  the
• 7:23
  granddaughter
• 7:23
  had
• 7:23
  something
• 7:24
  for
• 7:24
  the
• 7:24
  rest
• 7:24
  of
• 7:24
  their
• 7:25
  life
• 7:26
  with
• 7:26
  their
• 7:26
  grandparents
• 7:27
  handwriting.
• 7:27
  I
• 7:28
  mean
• 7:28
  it
• 7:28
  was
• 7:28
  beautiful.
• 7:29
  We
• 7:29
  can
• 7:29
  do
• 7:30
  that
• 7:30
  in
• 7:30
  a
• 7:30
  store.
• 7:30
  You
• 7:31
  can't
• 7:31
  do
• 7:31
  that
• 7:32
  so
• 7:32
  easily
• 7:33
  online.
• 7:33
  And
• 7:34
  of
• 7:34
  course
• 7:34
  it's
• 7:34
  helping
• 7:34
  people
• 7:35
  through
• 7:35
  the
• 7:35
  process
• 7:35
  and
• 7:36
  understanding
• 7:36
  the
• 7:36
  opportunity.
• 7:37
  That's
• 7:38
  what
• 7:38
  the
• 7:38
  stores
• 7:38
  do
• 7:38
  in
• 7:38
  terms
• 7:39
  of
• 7:39
  bringing
• 7:39
  real
• 7:39
  experience
• 7:40
  to
• 7:40
  life
• 7:40
  experience
• 7:41
  that
• 7:41
  adds
• 7:41
  value
• 7:42
  for
• 7:42
  customers.
• 7:43
  So
• 7:43
  just
• 7:44
  one
• 7:44
  example,
• 7:44
  but
• 7:45
  there
• 7:45
  are
• 7:45
  many
• 7:45
  others.
• 7:46
  Well,
• 7:46
  so
• 7:46
  David,
• 7:46
  you
• 7:46
  and
• 7:47
  I
• 7:47
  just
• 7:47
  got.
• 7:47
  That's
• 7:47
  a
• 7:48
  really
• 7:48
  interesting
• 7:48
  point
• 7:48
  too
• 7:48
  because
• 7:49
  you
• 7:49
  and
• 7:49
  I
• 7:49
  just
• 7:49
  got
• 7:49
  through
• 7:50
  the
• 7:50
  opening
• 7:51
  World
• 7:51
  Retail
• 7:52
  Congress
• 7:52
  where
• 7:52
  it
• 7:52
  was
• 7:52
  definitely
• 7:53
  very
• 7:53
  AI
• 7:54
  heavy
• 7:54
  in
• 7:54
  terms
• 7:55
  of
• 7:55
  what
• 7:55
  they
• 7:55
  were
• 7:55
  saying
• 7:56
  that
• 7:56
  the
• 7:56
  conference
• 7:56
  is
• 7:56
  going
• 7:56
  to
• 7:57
  be
• 7:57
  about.
• 7:57
  So
• 7:57
  I'm
• 7:57
  curious.
• 7:58
  You
• 7:58
  just
• 7:58
  mentioned
• 7:58
  that
• 7:59
  there's.
• 7:59
  There's
• 7:59
  still
• 8:00
  certain
• 8:00
  experiences
• 8:00
  in
• 8:00
  the
• 8:01
  store
• 8:01
  that
• 8:01
  you
• 8:01
  can't
• 8:01
  replicate
• 8:02
  as
• 8:02
  well
• 8:02
  online.
• 8:03
  How
• 8:04
  are
• 8:04
  you
• 8:04
  thinking
• 8:04
  AI
• 8:05
  is
• 8:05
  going
• 8:05
  to
• 8:05
  impact
• 8:06
  you
• 8:06
  at
• 8:06
  Pandora
• 8:07
  both
• 8:07
  in
• 8:07
  the
• 8:07
  physical
• 8:08
  and
• 8:08
  the
• 8:08
  digital
• 8:08
  realm.
• 8:09
  Yeah,
• 8:09
  so.
• 8:09
  So
• 8:10
  AI,
• 8:10
  obviously,
• 8:10
  you
• 8:11
  know,
• 8:11
  the
• 8:11
  thing
• 8:11
  for
• 8:11
  me
• 8:12
  is
• 8:12
  there's
• 8:12
  the
• 8:13
  efficiency
• 8:13
  play
• 8:14
  with
• 8:14
  AI
• 8:15
  and
• 8:15
  then
• 8:15
  there's
• 8:15
  the,
• 8:15
  let's
• 8:16
  call
• 8:16
  it
• 8:16
  effectiveness.
• 8:17
  But
• 8:17
  the
• 8:17
  sales
• 8:17
  and
• 8:18
  revenue
• 8:18
  driving
• 8:18
  opportunities.
• 8:19
  So
• 8:20
  efficiency,
• 8:20
  I
• 8:20
  think
• 8:20
  everybody's
• 8:21
  playing
• 8:21
  pretty
• 8:21
  well
• 8:22
  in
• 8:22
  that
• 8:22
  is
• 8:22
  how
• 8:23
  you
• 8:23
  recruit.
• 8:24
  Saving
• 8:25
  time
• 8:25
  for
• 8:25
  store
• 8:25
  managers
• 8:26
  through
• 8:26
  sifting
• 8:26
  resumes,
• 8:28
  scheduling
• 8:28
  hours,
• 8:29
  all
• 8:29
  of
• 8:29
  those
• 8:30
  tools,
• 8:30
  which
• 8:31
  we're
• 8:31
  all
• 8:31
  used
• 8:31
  to.
• 8:32
  And
• 8:32
  AI
• 8:32
  is
• 8:32
  just
• 8:33
  another
• 8:33
  development
• 8:33
  of
• 8:34
  what
• 8:34
  we've
• 8:34
  experienced
• 8:35
  over
• 8:36
  multiple
• 8:36
  decades.
• 8:37
  I
• 8:37
  think
• 8:37
  it
• 8:38
  gets
• 8:38
  really
• 8:38
  much
• 8:38
  more
• 8:38
  interesting
• 8:39
  in
• 8:39
  the
• 8:40
  revenue
• 8:40
  driving
• 8:41
  component
• 8:41
  and
• 8:41
  I
• 8:41
  think
• 8:41
  that's
• 8:42
  where
• 8:42
  we're
• 8:42
  really
• 8:42
  starting
• 8:42
  to
• 8:43
  think
• 8:43
  about
• 8:44
  where
• 8:44
  it
• 8:44
  could
• 8:44
  play.
• 8:45
  I'll
• 8:45
  give
• 8:45
  you
• 8:45
  a
• 8:45
  little
• 8:46
  example
• 8:46
  of
• 8:46
  something
• 8:46
  that
• 8:47
  happened
• 8:47
  to
• 8:47
  me,
• 8:47
  not
• 8:48
  in
• 8:48
  Pandora,
• 8:48
  but
• 8:49
  in
• 8:49
  Hamburg.
• 8:50
  So,
• 8:50
  you
• 8:50
  know,
• 8:50
  I
• 8:50
  mentioned
• 8:50
  this
• 8:51
  thing
• 8:51
  about
• 8:51
  Sheepvetter
• 8:52
  earlier
• 8:53
  on
• 8:53
  in
• 8:53
  Hamburg.
• 8:54
  I
• 8:54
  got
• 8:54
  fed
• 8:54
  up
• 8:55
  of
• 8:55
  getting
• 8:55
  soaked
• 8:55
  cycling
• 8:56
  to
• 8:56
  work
• 8:56
  every
• 8:57
  morning.
• 8:57
  So
• 8:57
  I
• 8:57
  asked
• 8:57
  my
• 8:58
  good
• 8:58
  friend
• 8:58
  chatgpt.
• 8:59
  I'm
• 9:00
  sure
• 9:00
  he
• 9:00
  or
• 9:01
  she
• 9:01
  is
• 9:01
  your
• 9:01
  good
• 9:01
  friend
• 9:01
  also.
• 9:02
  Or
• 9:02
  Claude.
• 9:03
  Or
• 9:04
  Claude.
• 9:04
  Yeah,
• 9:05
  personify
• 9:05
  it.
• 9:05
  Other
• 9:06
  brands
• 9:06
  are
• 9:06
  available.
• 9:06
  Yeah,
• 9:07
  personify
• 9:08
  it.
• 9:08
  So,
• 9:10
  and
• 9:10
  I
• 9:10
  asked
• 9:10
  him
• 9:11
  what's
• 9:11
  the
• 9:11
  best
• 9:11
  rain
• 9:11
  jacket
• 9:12
  I
• 9:12
  could
• 9:12
  use
• 9:12
  to
• 9:12
  commute
• 9:13
  to
• 9:13
  stuff?
• 9:13
  Like,
• 9:13
  I'd
• 9:14
  never
• 9:14
  used
• 9:14
  AI
• 9:15
  agentic
• 9:16
  AI
• 9:16
  for
• 9:16
  that
• 9:16
  before.
• 9:17
  It
• 9:17
  always
• 9:17
  been
• 9:18
  done
• 9:18
  for
• 9:18
  shopping.
• 9:18
  I
• 9:18
  always
• 9:19
  use
• 9:19
  Google
• 9:19
  or
• 9:19
  whatever.
• 9:20
  So
• 9:21
  I'd
• 9:21
  never
• 9:21
  shopped
• 9:21
  in
• 9:21
  arc
• 9:22
  directs
• 9:22
  before.
• 9:22
  I'd
• 9:23
  always
• 9:23
  been
• 9:23
  a
• 9:23
  loyal
• 9:24
  Pandora
• 9:24
  guy
• 9:24
  for
• 9:24
  about
• 9:25
  27
• 9:25
  years.
• 9:26
  But
• 9:27
  ChatGPT
• 9:27
  told
• 9:28
  me
• 9:28
  Arc'dyx
• 9:28
  was
• 9:29
  exactly
• 9:29
  what
• 9:29
  I
• 9:29
  needed.
• 9:29
  And
• 9:30
  we
• 9:30
  had
• 9:30
  a
• 9:30
  back
• 9:30
  and
• 9:30
  forth
• 9:30
  where
• 9:31
  it
• 9:31
  told
• 9:31
  me
• 9:31
  everything
• 9:32
  that
• 9:32
  I
• 9:32
  needed
• 9:33
  to
• 9:33
  know
• 9:33
  about
• 9:33
  why
• 9:33
  that
• 9:34
  was
• 9:34
  the
• 9:34
  right
• 9:34
  thing
• 9:34
  for
• 9:34
  me.
• 9:36
  So
• 9:36
  I
• 9:36
  made
• 9:36
  the
• 9:36
  trip
• 9:37
  to
• 9:37
  the
• 9:37
  store
• 9:37
  entirely
• 9:38
  driven
• 9:38
  by
• 9:38
  digital,
• 9:38
  entirely
• 9:39
  driven
• 9:39
  by
• 9:39
  AI
• 9:40
  going
• 9:40
  to
• 9:41
  a
• 9:41
  brand
• 9:41
  that
• 9:41
  I'd
• 9:41
  never
• 9:41
  purchased
• 9:42
  before.
• 9:43
  But
• 9:43
  then
• 9:43
  when
• 9:43
  I
• 9:43
  was
• 9:43
  in
• 9:43
  the
• 9:44
  store,
• 9:44
  I
• 9:44
  had
• 9:44
  a
• 9:44
  fantastic
• 9:45
  experience
• 9:45
  with
• 9:45
  a
• 9:45
  real
• 9:46
  human.
• 9:46
  So
• 9:47
  the
• 9:47
  human
• 9:47
  engaged
• 9:47
  me,
• 9:48
  walked
• 9:48
  through
• 9:48
  the
• 9:48
  different
• 9:49
  opportunities.
• 9:50
  We
• 9:50
  had
• 9:50
  the
• 9:50
  back
• 9:50
  and
• 9:51
  forth
• 9:51
  about
• 9:51
  whether
• 9:51
  the
• 9:51
  beta
• 9:52
  jacket
• 9:52
  was
• 9:52
  right
• 9:52
  or
• 9:52
  the
• 9:53
  beta
• 9:53
  SL
• 9:53
  jacket
• 9:54
  was
• 9:54
  right.
• 9:56
  And
• 9:56
  then
• 9:56
  he
• 9:56
  said
• 9:57
  to
• 9:57
  me
• 9:57
  there
• 9:57
  was
• 9:57
  another
• 9:57
  product
• 9:57
  that
• 9:58
  I
• 9:58
  wanted.
• 9:58
  They
• 9:58
  didn't
• 9:58
  have
• 9:58
  the
• 9:59
  right
• 9:59
  size
• 9:59
  and
• 9:59
  color.
• 9:59
  He
• 10:00
  said,
• 10:00
  look,
• 10:01
  let
• 10:02
  me
• 10:02
  take
• 10:02
  your
• 10:02
  details,
• 10:03
  I'll
• 10:04
  write
• 10:04
  to
• 10:04
  you,
• 10:04
  don't
• 10:05
  worry,
• 10:05
  it's
• 10:05
  not
• 10:05
  spam,
• 10:06
  it's
• 10:06
  not
• 10:06
  CRM,
• 10:07
  it's
• 10:07
  not
• 10:07
  all
• 10:07
  of
• 10:08
  that
• 10:08
  stuff
• 10:08
  that
• 10:08
  you
• 10:08
  used
• 10:08
  to.
• 10:09
  I
• 10:09
  will
• 10:09
  write
• 10:09
  to
• 10:09
  you
• 10:09
  directly.
• 10:10
  My
• 10:10
  name
• 10:10
  is
• 10:10
  Johan.
• 10:11
  I'm
• 10:11
  going
• 10:11
  to
• 10:11
  write
• 10:11
  to
• 10:11
  you
• 10:12
  and
• 10:12
  tell
• 10:12
  you
• 10:12
  when
• 10:12
  this
• 10:12
  comes
• 10:13
  in,
• 10:13
  let
• 10:13
  me
• 10:13
  have
• 10:13
  your
• 10:14
  details.
• 10:14
  There's
• 10:14
  some
• 10:14
  non
• 10:14
  disclosure
• 10:15
  form,
• 10:15
  gdpr,
• 10:16
  whatever.
• 10:17
  And
• 10:18
  it
• 10:18
  was
• 10:18
  the
• 10:18
  best
• 10:18
  of
• 10:18
  both
• 10:19
  worlds.
• 10:19
  We
• 10:19
  had
• 10:20
  the
• 10:20
  digital
• 10:20
  recommendation,
• 10:21
  we
• 10:21
  had
• 10:21
  the
• 10:21
  human
• 10:21
  interaction
• 10:22
  Added
• 10:23
  value
• 10:23
  services
• 10:23
  in
• 10:24
  store.
• 10:24
  It
• 10:24
  was
• 10:24
  a
• 10:25
  win
• 10:25
  win,
• 10:25
  right?
• 10:26
  Yeah.
• 10:26
  Wow.
• 10:27
  So
• 10:27
  I'm
• 10:27
  curious
• 10:27
  too,
• 10:27
  David,
• 10:28
  did
• 10:28
  you
• 10:29
  feel
• 10:29
  like
• 10:29
  coming
• 10:30
  out
• 10:30
  of
• 10:30
  that
• 10:30
  experience
• 10:30
  with
• 10:31
  ChatGPT,
• 10:31
  did
• 10:31
  you
• 10:32
  feel
• 10:32
  really
• 10:32
  confident
• 10:32
  in
• 10:33
  your
• 10:33
  purchase?
• 10:34
  You
• 10:34
  know,
• 10:34
  to
• 10:35
  more
• 10:35
  so
• 10:35
  to
• 10:35
  a
• 10:36
  degree
• 10:36
  than
• 10:36
  you've
• 10:36
  made
• 10:37
  in
• 10:37
  other.
• 10:37
  You
• 10:37
  felt
• 10:38
  when
• 10:38
  you've
• 10:38
  made
• 10:38
  other
• 10:39
  purchases
• 10:39
  in
• 10:39
  the
• 10:39
  past?
• 10:40
  I
• 10:40
  mean,
• 10:40
  I'm
• 10:41
  a
• 10:41
  brand
• 10:41
  guy.
• 10:41
  Right.
• 10:41
  I'm
• 10:42
  crazy
• 10:42
  about
• 10:42
  product.
• 10:42
  I've
• 10:43
  spent
• 10:43
  a
• 10:43
  lifetime
• 10:43
  in
• 10:43
  retail.
• 10:44
  Right.
• 10:44
  Product,
• 10:45
  product,
• 10:45
  product.
• 10:45
  That's
• 10:46
  my
• 10:46
  thing.
• 10:47
  So
• 10:47
  I'm
• 10:47
  picky.
• 10:48
  I
• 10:48
  change
• 10:48
  brands
• 10:49
  very
• 10:49
  infrequently.
• 10:49
  I
• 10:50
  mentioned
• 10:50
  I
• 10:50
  was
• 10:50
  a
• 10:50
  Patagonia
• 10:51
  for
• 10:51
  a
• 10:51
  long
• 10:51
  time.
• 10:51
  Yeah.
• 10:52
  So
• 10:52
  going
• 10:52
  to
• 10:52
  a
• 10:52
  new
• 10:52
  brand's
• 10:53
  a
• 10:53
  really
• 10:53
  big
• 10:53
  deal
• 10:53
  for
• 10:53
  me.
• 10:54
  But
• 10:54
  there
• 10:54
  was
• 10:54
  a
• 10:54
  level
• 10:55
  of
• 10:55
  information
• 10:55
  and
• 10:56
  back
• 10:56
  and
• 10:56
  forth
• 10:56
  that
• 10:56
  my
• 10:56
  trusted
• 10:57
  friend,
• 10:58
  the
• 10:58
  AI
• 10:58
  agent,
• 10:59
  was.
• 11:00
  Was
• 11:00
  really
• 11:00
  making
• 11:01
  good
• 11:01
  recommendations.
• 11:02
  I
• 11:02
  walked
• 11:02
  out
• 11:02
  of
• 11:03
  that
• 11:03
  store
• 11:03
  super
• 11:03
  happy
• 11:04
  with
• 11:04
  what
• 11:04
  I
• 11:05
  ended
• 11:05
  up
• 11:05
  buying.
• 11:06
  And
• 11:06
  it
• 11:06
  was
• 11:06
  a
• 11:06
  new
• 11:07
  brand
• 11:07
  that
• 11:07
  I'd
• 11:07
  never
• 11:07
  purchased
• 11:08
  before
• 11:08
  and
• 11:08
  I'd
• 11:09
  never
• 11:09
  considered
• 11:09
  before.
• 11:10
  Right.
• 11:10
  How
• 11:10
  fascinating
• 11:11
  is
• 11:11
  that?
• 11:11
  And
• 11:11
  it
• 11:12
  was
• 11:12
  the
• 11:12
  most
• 11:12
  expensive
• 11:12
  rain
• 11:13
  jacket
• 11:13
  I'd
• 11:13
  ever
• 11:13
  bought
• 11:13
  in
• 11:14
  my
• 11:14
  Life.
• 11:14
  Which
• 11:15
  actually
• 11:15
  ChatGPT
• 11:16
  was
• 11:16
  able
• 11:16
  to
• 11:16
  explain
• 11:17
  why,
• 11:17
  with
• 11:17
  all
• 11:17
  the
• 11:18
  features
• 11:18
  and
• 11:18
  benefits
• 11:18
  of
• 11:18
  the
• 11:19
  product
• 11:19
  at
• 11:19
  a
• 11:19
  level
• 11:19
  of
• 11:20
  detail
• 11:20
  you
• 11:20
  just
• 11:20
  never
• 11:20
  see
• 11:21
  on
• 11:21
  Google.
• 11:21
  Right.
• 11:21
  So
• 11:22
  something
• 11:22
  really
• 11:23
  big
• 11:23
  is
• 11:23
  starting
• 11:24
  to
• 11:24
  happen
• 11:24
  here.
• 11:24
  There's
• 11:24
  something
• 11:25
  psychological
• 11:25
  about
• 11:26
  it.
• 11:26
  Whether
• 11:26
  right
• 11:26
  or
• 11:26
  wrong,
• 11:27
  it
• 11:27
  makes
• 11:27
  you
• 11:27
  feel
• 11:27
  really
• 11:28
  darn
• 11:28
  smart
• 11:28
  when
• 11:29
  you're
• 11:29
  done
• 11:29
  doing
• 11:29
  whatever
• 11:30
  it
• 11:30
  is
• 11:30
  you're
• 11:30
  doing
• 11:30
  at
• 11:31
  the
• 11:31
  end
• 11:31
  of
• 11:31
  the
• 11:31
  day,
• 11:31
  which
• 11:31
  is
• 11:32
  important
• 11:32
  for
• 11:32
  us
• 11:32
  as
• 11:33
  retailers,
• 11:33
  for
• 11:33
  sure.
• 11:34
  All
• 11:34
  right,
• 11:34
  I'll
• 11:35
  get
• 11:35
  you
• 11:35
  out
• 11:35
  of
• 11:35
  here
• 11:35
  on
• 11:35
  this
• 11:35
  last
• 11:35
  question.
• 11:36
  This
• 11:36
  has
• 11:36
  been
• 11:36
  really
• 11:36
  fun.
• 11:37
  You
• 11:38
  said
• 11:38
  on
• 11:38
  a
• 11:38
  recent
• 11:38
  LinkedIn
• 11:39
  post
• 11:39
  that
• 11:40
  you
• 11:40
  could
• 11:40
  never
• 11:40
  stay
• 11:41
  semi
• 11:42
  retired.
• 11:42
  So
• 11:42
  I'm
• 11:43
  curious,
• 11:43
  what
• 11:43
  is
• 11:43
  it
• 11:43
  about
• 11:44
  operating
• 11:45
  that
• 11:45
  really
• 11:47
  draws
• 11:47
  your
• 11:47
  mind
• 11:48
  versus,
• 11:48
  say,
• 11:49
  continuing
• 11:49
  in
• 11:50
  an
• 11:50
  advisory
• 11:50
  role,
• 11:51
  as
• 11:51
  most
• 11:51
  people
• 11:51
  do?
• 11:51
  Sure.
• 11:52
  The
• 11:52
  advisory
• 11:52
  stuff
• 11:53
  has
• 11:53
  been
• 11:53
  super
• 11:53
  interesting
• 11:53
  and
• 11:54
  rewarding.
• 11:54
  I've
• 11:54
  worked
• 11:54
  with
• 11:54
  some
• 11:55
  lovely
• 11:55
  brands
• 11:55
  and
• 11:55
  some
• 11:55
  amazing
• 11:56
  people,
• 11:56
  but
• 11:57
  ultimately,
• 11:57
  you're
• 11:57
  not
• 11:58
  actually
• 11:58
  making
• 11:58
  the
• 11:58
  thing
• 11:59
  happen.
• 12:00
  Right.
• 12:00
  You're
• 12:00
  giving
• 12:00
  them
• 12:00
  choices.
• 12:01
  You're
• 12:01
  playing
• 12:02
  back.
• 12:02
  You're
• 12:02
  kind
• 12:02
  of
• 12:02
  acting
• 12:03
  like
• 12:03
  a
• 12:03
  coach,
• 12:03
  but
• 12:03
  ultimately
• 12:04
  you're
• 12:04
  not
• 12:04
  the
• 12:05
  athlete
• 12:05
  who's
• 12:05
  going
• 12:05
  to
• 12:06
  get
• 12:06
  on
• 12:06
  track
• 12:06
  and
• 12:06
  win
• 12:06
  the
• 12:07
  gold
• 12:07
  medal.
• 12:07
  So
• 12:08
  ultimately,
• 12:08
  I'd
• 12:08
  spent
• 12:09
  my
• 12:09
  whole
• 12:09
  career
• 12:09
  doing
• 12:10
  that
• 12:10
  stuff.
• 12:10
  It
• 12:10
  was
• 12:10
  frustrating
• 12:11
  not
• 12:11
  to
• 12:11
  do
• 12:11
  it.
• 12:11
  I
• 12:11
  did
• 12:11
  a
• 12:12
  couple
• 12:12
  of
• 12:12
  board
• 12:12
  rolls,
• 12:13
  you
• 12:13
  know,
• 12:13
  every
• 12:13
  month,
• 12:14
  getting
• 12:14
  250
• 12:14
  pages
• 12:15
  to
• 12:15
  read,
• 12:16
  trying
• 12:16
  to
• 12:16
  figure
• 12:16
  out
• 12:17
  the
• 12:17
  two
• 12:17
  intelligent
• 12:18
  questions
• 12:18
  I
• 12:18
  could
• 12:18
  ask
• 12:19
  so
• 12:19
  that
• 12:19
  the
• 12:19
  chairman
• 12:19
  would
• 12:20
  feel
• 12:20
  I
• 12:20
  was
• 12:20
  a
• 12:20
  worthwhile
• 12:21
  addition
• 12:21
  to
• 12:21
  the
• 12:21
  board.
• 12:22
  You
• 12:22
  know,
• 12:22
  all
• 12:23
  of
• 12:23
  that
• 12:23
  stuff,
• 12:23
  Honestly,
• 12:24
  I
• 12:24
  just
• 12:24
  didn't
• 12:24
  find
• 12:24
  it
• 12:24
  rewarding.
• 12:25
  The
• 12:25
  thing
• 12:25
  that
• 12:25
  I've
• 12:26
  loved
• 12:26
  right.
• 12:26
  The
• 12:26
  way
• 12:26
  through
• 12:26
  my
• 12:26
  career
• 12:27
  Which
• 12:27
  I
• 12:27
  think
• 12:28
  is
• 12:28
  so
• 12:28
  key
• 12:28
  in
• 12:28
  retail.
• 12:29
  Team
• 12:29
  leadership,
• 12:30
  team
• 12:30
  building,
• 12:30
  people
• 12:31
  development,
• 12:32
  helping
• 12:32
  people
• 12:33
  be
• 12:33
  the
• 12:34
  best
• 12:34
  that
• 12:34
  they
• 12:34
  can.
• 12:35
  And
• 12:35
  winning.
• 12:36
  Right.
• 12:36
  I
• 12:36
  mean,
• 12:36
  you've
• 12:36
  got
• 12:36
  to
• 12:37
  have
• 12:37
  that
• 12:37
  drive
• 12:37
  to
• 12:37
  win,
• 12:38
  to
• 12:38
  be
• 12:38
  successful
• 12:38
  in
• 12:38
  retail
• 12:39
  as
• 12:39
  well.
• 12:39
  You
• 12:40
  can't
• 12:40
  do
• 12:40
  that
• 12:41
  so
• 12:41
  easily
• 12:42
  in
• 12:42
  an
• 12:42
  advisory
• 12:43
  role.
• 12:43
  So
• 12:43
  I
• 12:43
  missed
• 12:44
  it
• 12:44
  too
• 12:44
  much.
• 12:44
  I
• 12:45
  was
• 12:45
  semi
• 12:45
  retired
• 12:45
  for
• 12:46
  a
• 12:46
  while.
• 12:46
  My
• 12:46
  wife
• 12:46
  got
• 12:47
  sick
• 12:47
  of
• 12:47
  having
• 12:47
  me
• 12:47
  around
• 12:47
  the
• 12:47
  house.
• 12:48
  She
• 12:48
  said,
• 12:48
  you've
• 12:48
  got
• 12:48
  to
• 12:48
  get
• 12:48
  back
• 12:49
  out
• 12:49
  there,
• 12:49
  David.
• 12:49
  So
• 12:50
  here
• 12:50
  I
• 12:50
  am,
• 12:50
  I'm
• 12:50
  back
• 12:50
  out
• 12:51
  there
• 12:51
  with
• 12:51
  Pandora.
• 12:51
  See,
• 12:52
  like
• 12:52
  rolling
• 12:52
  up
• 12:52
  the
• 12:52
  sleeves.
• 12:53
  Absolutely.
• 12:53
  So
• 12:54
  I
• 12:54
  think.
• 12:54
  So
• 12:54
  you're
• 12:54
  a
• 12:55
  guy
• 12:55
  that
• 12:55
  gets
• 12:55
  jazzed
• 12:55
  up
• 12:56
  by
• 12:56
  the
• 12:56
  future
• 12:56
  of
• 12:56
  AI
• 12:57
  and
• 12:57
  that
• 12:57
  whole
• 12:58
  discussion
• 12:58
  we
• 12:58
  just
• 12:58
  had
• 12:59
  in
• 12:59
  terms
• 12:59
  of
• 12:59
  what
• 12:59
  does
• 12:59
  it
• 12:59
  mean
• 13:00
  for
• 13:00
  the
• 13:00
  future
• 13:00
  and
• 13:00
  how
• 13:00
  are
• 13:01
  people
• 13:01
  going
• 13:01
  to
• 13:01
  shop
• 13:01
  five
• 13:01
  to
• 13:02
  ten
• 13:02
  years
• 13:02
  out?
• 13:02
  Yeah,
• 13:03
  yeah.
• 13:03
  I
• 13:03
  mean,
• 13:03
  look,
• 13:04
  it's,
• 13:04
  you
• 13:04
  know,
• 13:05
  I
• 13:05
  don't
• 13:05
  know
• 13:05
  whether
• 13:05
  I'm
• 13:06
  an
• 13:06
  early
• 13:06
  adopter
• 13:06
  or
• 13:06
  a
• 13:06
  late
• 13:07
  adopter,
• 13:07
  whatever,
• 13:07
  but,
• 13:08
  you
• 13:08
  know,
• 13:08
  this
• 13:08
  idea
• 13:09
  about
• 13:09
  the,
• 13:09
  you
• 13:09
  know,
• 13:10
  AI
• 13:10
  knowing
• 13:10
  what
• 13:10
  you
• 13:11
  need
• 13:11
  before
• 13:11
  you
• 13:11
  need
• 13:12
  it,
• 13:12
  before
• 13:12
  you
• 13:12
  know
• 13:12
  you
• 13:13
  need
• 13:13
  it,
• 13:13
  and
• 13:13
  all
• 13:13
  of
• 13:14
  a
• 13:14
  sudden
• 13:14
  making
• 13:14
  a
• 13:14
  recommendation.
• 13:15
  Hey,
• 13:15
  you
• 13:15
  know
• 13:15
  what?
• 13:15
  I've
• 13:15
  noticed
• 13:16
  that
• 13:16
  the
• 13:16
  weather
• 13:16
  forecast
• 13:16
  is
• 13:16
  going
• 13:17
  to
• 13:17
  be
• 13:17
  so
• 13:17
  great
• 13:17
  for
• 13:17
  the
• 13:17
  next
• 13:18
  few
• 13:18
  months.
• 13:18
  If
• 13:18
  I
• 13:18
  were
• 13:19
  you
• 13:19
  this
• 13:19
  weekend,
• 13:19
  I'd
• 13:19
  pop
• 13:20
  out
• 13:20
  and
• 13:20
  buy
• 13:20
  this
• 13:20
  jacket
• 13:21
  or
• 13:21
  even
• 13:21
  I
• 13:21
  get
• 13:22
  this
• 13:22
  jacket
• 13:22
  delivered
• 13:22
  to
• 13:23
  you
• 13:23
  unless
• 13:23
  you
• 13:24
  tell
• 13:24
  me
• 13:24
  not
• 13:24
  so.
• 13:25
  I
• 13:25
  think
• 13:25
  it's
• 13:25
  fascinating
• 13:26
  and
• 13:26
  it's
• 13:26
  sort
• 13:26
  of
• 13:26
  beyond
• 13:27
  my
• 13:27
  limited
• 13:27
  imagination
• 13:28
  what
• 13:28
  could
• 13:28
  come.
• 13:30
  But
• 13:30
  it's
• 13:30
  going
• 13:30
  to
• 13:30
  be
• 13:30
  a
• 13:31
  fascinating
• 13:31
  few
• 13:31
  years
• 13:31
  for
• 13:31
  sure.
• 13:32
  Yeah.
• 13:32
  Wow.
• 13:32
  Awesome.
• 13:34
  Wow.
• 13:34
  What
• 13:34
  a
• 13:34
  great
• 13:34
  start
• 13:35
  to
• 13:35
  World
• 13:35
  Retail
• 13:35
  Congress.
• 13:36
  David
• 13:36
  Boyne,
• 13:36
  thanks
• 13:36
  for
• 13:37
  joining
• 13:37
  me
• 13:37
  this
• 13:37
  morning.
• 13:37
  Absolute
• 13:38
  pleasure.
• 13:38
  Thanks
• 13:38
  to
• 13:39
  Vuzion
• 13:39
  for
• 13:39
  making
• 13:40
  our
• 13:40
  coverage
• 13:40
  possible.
• 13:41
  And
• 13:41
  as
• 13:41
  always,
• 13:41
  on
• 13:41
  behalf
• 13:42
  of
• 13:42
  David
• 13:42
  and
• 13:42
  myself
• 13:43
  and
• 13:43
  all
• 13:43
  of
• 13:43
  us
• 13:43
  at
• 13:43
  Omnitalk
• 13:44
  Retail,
• 13:44
  as
• 13:44
  always,
• 13:44
  be
• 13:45
  careful
• 13:45
  out
• 13:45
  there.