Latest / Omni Talk Retail / Vusion’s Martin Bailie On the Execution Gap and Why It’s Retail’s Biggest Risk | NRF 2026

Transcript

Vusion’s Martin Bailie On the Execution Gap and Why It’s Retail’s Biggest Risk | NRF 2026 · Omni Talk Retail

• 0:00
  Hello,
• 0:00
  everyone.
• 0:00
  This
• 0:01
  is
• 0:01
  Omnitalk
• 0:01
  Retail.
• 0:02
  I'm
• 0:02
  Chris
• 0:02
  Walton.
• 0:02
  And
• 0:03
  I'm
• 0:03
  Anne
• 0:03
  Mazinga.
• 0:03
  And
• 0:04
  we
• 0:04
  are
• 0:04
  coming
• 0:04
  to
• 0:04
  you
• 0:04
  live
• 0:05
  from
• 0:05
  New
• 0:05
  York
• 0:05
  City
• 0:05
  at
• 0:06
  NRF
• 0:06
  2026
• 0:07
  from
• 0:08
  Vuzion's
• 0:09
  podcast
• 0:09
  studio
• 0:10
  in
• 0:10
  booth
• 0:10
  4921.
• 0:12
  Come
• 0:12
  on
• 0:12
  by.
• 0:12
  Check
• 0:12
  us
• 0:13
  out.
• 0:13
  There's
• 0:13
  only
• 0:13
  a
• 0:13
  few
• 0:13
  more
• 0:14
  hours
• 0:14
  of
• 0:14
  the
• 0:14
  big
• 0:14
  show
• 0:15
  and
• 0:15
  we'd
• 0:15
  love
• 0:15
  to
• 0:16
  see
• 0:16
  you.
• 0:16
  Now,
• 0:17
  without
• 0:17
  further
• 0:17
  ado,
• 0:18
  I
• 0:18
  want
• 0:18
  to
• 0:18
  introduce
• 0:18
  Martin
• 0:19
  Bailey.
• 0:19
  Martin
• 0:19
  Bailey
• 0:20
  is
• 0:20
  a
• 0:20
  senior
• 0:21
  advisor
• 0:21
  at
• 0:21
  Fusion
• 0:22
  and
• 0:22
  someone
• 0:22
  we've
• 0:23
  long
• 0:23
  talked
• 0:23
  about
• 0:23
  getting
• 0:24
  on
• 0:24
  this
• 0:24
  show
• 0:24
  with
• 0:24
  us
• 0:24
  because
• 0:25
  he's
• 0:25
  got
• 0:25
  more
• 0:25
  charisma
• 0:26
  that
• 0:26
  can
• 0:26
  fill
• 0:26
  a
• 0:27
  spot.
• 0:27
  Something
• 0:27
  I
• 0:27
  don't
• 0:27
  know
• 0:28
  what,
• 0:28
  but
• 0:28
  we're
• 0:29
  excited
• 0:29
  to
• 0:29
  have
• 0:29
  you,
• 0:29
  Martin.
• 0:30
  Thank
• 0:30
  you
• 0:30
  to
• 0:30
  be
• 0:31
  here
• 0:31
  as
• 0:31
  well.
• 0:31
  Yeah,
• 0:31
  thank
• 0:31
  you.
• 0:32
  Well,
• 0:32
  Martin,
• 0:32
  tell
• 0:33
  our
• 0:33
  audience
• 0:33
  a
• 0:33
  little
• 0:34
  bit
• 0:34
  about
• 0:34
  your
• 0:34
  background
• 0:35
  because
• 0:35
  I
• 0:35
  think
• 0:36
  it's
• 0:36
  important
• 0:36
  to
• 0:36
  kind
• 0:37
  of
• 0:37
  set
• 0:37
  the
• 0:37
  stage
• 0:38
  with
• 0:38
  that
• 0:38
  first
• 0:39
  before
• 0:39
  we
• 0:39
  dive
• 0:39
  into
• 0:41
  some
• 0:41
  of
• 0:41
  some
• 0:41
  other
• 0:42
  questions
• 0:42
  and
• 0:42
  things.
• 0:43
  Well,
• 0:43
  look,
• 0:43
  I.
• 0:44
  I'm
• 0:44
  a
• 0:44
  retailer
• 0:44
  like
• 0:45
  you
• 0:45
  guys
• 0:45
  and
• 0:46
  extremely
• 0:46
  passionate
• 0:46
  about
• 0:47
  it.
• 0:47
  And
• 0:47
  just
• 0:48
  to
• 0:48
  be
• 0:48
  clear,
• 0:48
  I
• 0:48
  love
• 0:49
  you
• 0:49
  guys.
• 0:50
  The
• 0:50
  what
• 0:50
  you
• 0:50
  do
• 0:50
  for
• 0:50
  retail,
• 0:51
  what
• 0:51
  you
• 0:51
  do
• 0:51
  for
• 0:52
  forward
• 0:52
  thinking,
• 0:53
  allowing
• 0:54
  us
• 0:54
  US
• 0:54
  retailers
• 0:55
  good
• 0:55
  support.
• 0:55
  It's
• 0:56
  fantastic.
• 0:56
  So
• 0:56
  thank
• 0:57
  you
• 0:57
  for
• 0:57
  having
• 0:57
  me.
• 0:58
  I'm
• 0:59
  retailer
• 1:00
  all
• 1:00
  my
• 1:00
  life,
• 1:00
  food
• 1:01
  and
• 1:01
  fashion.
• 1:02
  So
• 1:02
  I've
• 1:03
  been
• 1:03
  privileged
• 1:03
  enough
• 1:03
  to
• 1:04
  sit
• 1:04
  on
• 1:04
  the
• 1:04
  board
• 1:04
  for
• 1:04
  Tesco's
• 1:05
  and
• 1:05
  Tata
• 1:06
  in
• 1:06
  India,
• 1:07
  also
• 1:07
  for
• 1:07
  Primark
• 1:08
  in
• 1:08
  Ireland,
• 1:08
  the
• 1:09
  fashion
• 1:09
  retailer,
• 1:10
  and
• 1:10
  Lidl.
• 1:11
  Probably
• 1:11
  the
• 1:11
  longest
• 1:11
  period
• 1:12
  of
• 1:12
  time,
• 1:12
  15
• 1:12
  years
• 1:13
  as
• 1:13
  CEO
• 1:13
  for
• 1:14
  UK
• 1:14
  and
• 1:14
  Ireland.
• 1:16
  I
• 1:16
  came
• 1:16
  out
• 1:16
  of
• 1:17
  that
• 1:17
  corporate
• 1:17
  world
• 1:18
  into
• 1:18
  advisory.
• 1:19
  So
• 1:19
  I
• 1:19
  have
• 1:20
  my
• 1:20
  own
• 1:20
  advisory
• 1:20
  firm,
• 1:21
  MWB
• 1:21
  Advisory
• 1:22
  Limited.
• 1:23
  So
• 1:23
  I'm
• 1:24
  similar
• 1:24
  to
• 1:24
  you
• 1:24
  in
• 1:24
  terms
• 1:25
  of
• 1:25
  passionate
• 1:25
  about
• 1:25
  retail,
• 1:27
  digital
• 1:27
  transformation,
• 1:28
  both
• 1:28
  esg,
• 1:30
  retail
• 1:30
  tech,
• 1:31
  hence
• 1:31
  Fusion
• 1:31
  Group,
• 1:32
  which
• 1:32
  is
• 1:32
  an
• 1:32
  amazing
• 1:33
  company
• 1:33
  as
• 1:33
  we
• 1:33
  know,
• 1:34
  and
• 1:34
  product
• 1:35
  as
• 1:35
  well.
• 1:35
  So
• 1:35
  I've
• 1:35
  never
• 1:36
  left
• 1:36
  the
• 1:36
  shop
• 1:37
  floor,
• 1:37
  which
• 1:37
  is
• 1:37
  the
• 1:37
  key
• 1:38
  thing.
• 1:38
  Yeah,
• 1:38
  well,
• 1:38
  Primark
• 1:39
  and
• 1:39
  Grocery
• 1:40
  man,
• 1:40
  that's
• 1:41
  a
• 1:41
  hell
• 1:41
  of
• 1:41
  a
• 1:41
  lot
• 1:41
  of
• 1:41
  experience.
• 1:41
  And
• 1:42
  so
• 1:42
  we
• 1:42
  love
• 1:42
  having
• 1:42
  real
• 1:43
  operators
• 1:43
  on
• 1:43
  the
• 1:43
  show.
• 1:43
  So
• 1:44
  our
• 1:44
  first
• 1:44
  question
• 1:45
  for
• 1:45
  you,
• 1:45
  we've
• 1:45
  been
• 1:45
  hearing
• 1:45
  a
• 1:46
  lot
• 1:46
  about.
• 1:46
  The
• 1:46
  whole
• 1:46
  science
• 1:47
  experiment,
• 1:47
  or
• 1:48
  another
• 1:48
  way
• 1:48
  to
• 1:48
  put
• 1:48
  it,
• 1:48
  is
• 1:49
  kind
• 1:49
  of
• 1:49
  the
• 1:49
  pilot
• 1:50
  trap.
• 1:51
  And
• 1:51
  so
• 1:51
  a
• 1:51
  lot
• 1:51
  of
• 1:52
  retailers
• 1:52
  fall
• 1:52
  into
• 1:52
  that
• 1:53
  pilot
• 1:53
  trap.
• 1:54
  How
• 1:54
  do
• 1:54
  you
• 1:54
  think
• 1:54
  about
• 1:55
  that
• 1:55
  from
• 1:55
  an
• 1:55
  execution
• 1:56
  standpoint?
• 1:56
  How
• 1:57
  big
• 1:57
  of
• 1:57
  an
• 1:57
  issue
• 1:57
  is
• 1:58
  that
• 1:58
  in
• 1:58
  the
• 1:58
  industry?
• 1:59
  I
• 1:59
  think,
• 1:59
  I
• 1:59
  think
• 1:59
  it's
• 1:59
  large,
• 2:00
  especially
• 2:00
  when
• 2:00
  you
• 2:00
  see
• 2:01
  around
• 2:01
  NRF
• 2:01
  just
• 2:01
  now,
• 2:02
  which
• 2:02
  is
• 2:02
  bigger
• 2:03
  and
• 2:03
  better
• 2:03
  than
• 2:03
  ever
• 2:03
  before.
• 2:04
  There's
• 2:04
  no
• 2:04
  doubt
• 2:04
  about
• 2:04
  it.
• 2:05
  But
• 2:05
  it's
• 2:06
  that
• 2:06
  execution
• 2:06
  gap.
• 2:07
  So
• 2:07
  I
• 2:07
  would.
• 2:08
  The
• 2:08
  way
• 2:08
  I
• 2:08
  would
• 2:08
  say
• 2:08
  is
• 2:08
  that
• 2:09
  we're
• 2:09
  no
• 2:09
  longer
• 2:11
  able
• 2:11
  to
• 2:12
  survive.
• 2:12
  We
• 2:13
  have
• 2:13
  to
• 2:13
  thrive
• 2:13
  as
• 2:13
  retailers.
• 2:14
  And
• 2:14
  a
• 2:15
  lot
• 2:15
  of
• 2:15
  people
• 2:15
  talk
• 2:15
  about
• 2:15
  AI.
• 2:16
  In
• 2:16
  fact,
• 2:16
  if
• 2:16
  you
• 2:16
  go
• 2:17
  anywhere
• 2:17
  in
• 2:17
  any
• 2:18
  of
• 2:18
  it's
• 2:18
  agenda
• 2:19
  and
• 2:19
  AI.
• 2:19
  But
• 2:20
  the
• 2:20
  greatest
• 2:20
  threat
• 2:21
  to
• 2:21
  retail
• 2:22
  today
• 2:22
  is
• 2:22
  about
• 2:23
  that
• 2:23
  execution
• 2:23
  gap.
• 2:25
  It's
• 2:25
  also
• 2:25
  about
• 2:26
  learning
• 2:26
  that
• 2:27
  it's
• 2:27
  no
• 2:27
  longer
• 2:27
  about
• 2:27
  omnichannel,
• 2:28
  it's
• 2:29
  about
• 2:29
  ambient
• 2:30
  shopping.
• 2:31
  So
• 2:31
  this
• 2:32
  is
• 2:32
  beyond
• 2:32
  just
• 2:33
  your
• 2:33
  typical
• 2:34
  single
• 2:35
  channel,
• 2:35
  multi
• 2:35
  channel
• 2:36
  omnichannel.
• 2:36
  It's
• 2:37
  moved
• 2:37
  now
• 2:37
  into
• 2:38
  how
• 2:38
  we
• 2:39
  touch
• 2:39
  our
• 2:40
  customers
• 2:41
  both
• 2:41
  in
• 2:41
  voice,
• 2:42
  in
• 2:42
  channel,
• 2:43
  in
• 2:43
  online,
• 2:44
  in
• 2:44
  social
• 2:44
  media.
• 2:45
  It
• 2:45
  really
• 2:45
  is
• 2:46
  now
• 2:46
  a
• 2:46
  seamless
• 2:47
  conversation
• 2:48
  and
• 2:48
  they
• 2:48
  need
• 2:48
  to
• 2:49
  seamless
• 2:50
  as
• 2:50
  well.
• 2:50
  And
• 2:51
  also
• 2:51
  the
• 2:52
  way
• 2:52
  leadership
• 2:53
  is
• 2:53
  changing,
• 2:56
  we're
• 2:56
  probably
• 2:56
  losing
• 2:57
  more
• 2:57
  CEOs
• 2:58
  than
• 2:58
  ever
• 2:59
  because
• 2:59
  ultimately
• 3:00
  even
• 3:01
  last
• 3:01
  year's
• 3:01
  playbook
• 3:02
  is
• 3:02
  out
• 3:03
  of
• 3:03
  date.
• 3:03
  Right.
• 3:04
  So
• 3:04
  how
• 3:04
  do
• 3:04
  we
• 3:05
  keep
• 3:05
  up?
• 3:05
  How
• 3:06
  do
• 3:06
  we
• 3:06
  keep
• 3:06
  up?
• 3:06
  How
• 3:07
  do
• 3:07
  the
• 3:07
  leaders
• 3:07
  keep
• 3:07
  up
• 3:08
  as
• 3:08
  well?
• 3:08
  And
• 3:08
  when
• 3:08
  you
• 3:09
  see
• 3:09
  the
• 3:09
  innovation
• 3:09
  around
• 3:10
  here,
• 3:10
  you
• 3:11
  can
• 3:11
  easily
• 3:11
  get
• 3:11
  stuck
• 3:12
  in
• 3:13
  the
• 3:13
  pilot.
• 3:13
  In
• 3:13
  fact,
• 3:14
  I
• 3:14
  had
• 3:14
  a
• 3:14
  good
• 3:14
  conversation.
• 3:15
  It
• 3:15
  was
• 3:15
  a
• 3:15
  UK
• 3:15
  retailer,
• 3:16
  my
• 3:16
  apologies.
• 3:17
  And
• 3:18
  they
• 3:18
  were
• 3:18
  talking
• 3:18
  about
• 3:19
  nine
• 3:19
  months
• 3:19
  ago,
• 3:20
  they
• 3:20
  were
• 3:21
  talking
• 3:21
  about
• 3:21
  X
• 3:21
  amount
• 3:22
  of
• 3:22
  pilots.
• 3:22
  Yeah,
• 3:23
  nine
• 3:23
  months
• 3:23
  later.
• 3:24
  Which
• 3:24
  in
• 3:24
  retail
• 3:25
  wouldn't
• 3:25
  have
• 3:25
  been
• 3:25
  that
• 3:26
  long.
• 3:26
  But
• 3:27
  in
• 3:27
  modern
• 3:27
  retail
• 3:28
  nine
• 3:28
  months
• 3:28
  is
• 3:28
  like
• 3:29
  nine
• 3:29
  years.
• 3:30
  They've
• 3:30
  shifted,
• 3:31
  everybody
• 3:31
  else
• 3:31
  has
• 3:32
  shifted.
• 3:32
  And
• 3:32
  when
• 3:33
  they
• 3:33
  see
• 3:33
  the
• 3:33
  innovation
• 3:34
  here
• 3:34
  and
• 3:34
  seeing
• 3:35
  all
• 3:35
  the
• 3:35
  brand
• 3:35
  names
• 3:36
  that
• 3:36
  they're
• 3:36
  competitors
• 3:37
  of,
• 3:37
  they're
• 3:37
  suddenly
• 3:37
  we're
• 3:38
  way
• 3:38
  behind
• 3:39
  in
• 3:39
  nine
• 3:39
  months.
• 3:41
  So
• 3:41
  blink
• 3:41
  of
• 3:41
  an
• 3:42
  eye
• 3:42
  changes
• 3:42
  as
• 3:42
  well.
• 3:42
  So
• 3:43
  there
• 3:43
  is
• 3:43
  no
• 3:43
  doubt
• 3:43
  we're
• 3:44
  stuck
• 3:44
  in
• 3:44
  the
• 3:44
  pilot
• 3:45
  gap
• 3:45
  and
• 3:45
  we
• 3:45
  need
• 3:45
  to
• 3:45
  move
• 3:46
  into
• 3:46
  the
• 3:46
  thriving
• 3:47
  gap
• 3:47
  which
• 3:47
  is
• 3:47
  around
• 3:48
  execution.
• 3:49
  Because
• 3:49
  innovation
• 3:50
  is
• 3:51
  a
• 3:51
  distraction
• 3:52
  if
• 3:52
  you
• 3:52
  don't
• 3:52
  have
• 3:53
  flawless
• 3:54
  execution.
• 3:54
  And
• 3:54
  that's
• 3:55
  the
• 3:55
  difference.
• 3:55
  So
• 3:55
  Martin,
• 3:56
  I
• 3:56
  want
• 3:56
  to
• 3:56
  ask
• 3:56
  you
• 3:56
  too,
• 3:56
  because.
• 3:57
  So
• 3:57
  is
• 3:57
  it
• 3:57
  is
• 3:57
  the
• 3:57
  answer
• 3:58
  then
• 3:58
  less
• 3:59
  pilots
• 3:59
  overall
• 4:00
  in
• 4:00
  a
• 4:00
  given
• 4:00
  year
• 4:01
  or
• 4:01
  less
• 4:02
  pilots,
• 4:02
  but
• 4:02
  you're
• 4:03
  doing
• 4:03
  them
• 4:03
  more
• 4:03
  often.
• 4:04
  It's
• 4:05
  a
• 4:05
  think
• 4:06
  about
• 4:06
  that
• 4:06
  from
• 4:06
  a
• 4:06
  no,
• 4:06
  it's
• 4:07
  okay.
• 4:07
  It's
• 4:07
  about
• 4:07
  the
• 4:08
  right
• 4:08
  pilots
• 4:09
  because
• 4:10
  you
• 4:10
  can
• 4:10
  get
• 4:11
  within
• 4:11
  a
• 4:12
  company
• 4:12
  that
• 4:13
  has
• 4:13
  different
• 4:13
  stakeholders,
• 4:14
  the
• 4:14
  cfo,
• 4:15
  the
• 4:15
  cio,
• 4:15
  the
• 4:16
  coo,
• 4:16
  the
• 4:17
  CEO.
• 4:18
  You
• 4:18
  can
• 4:18
  easily
• 4:19
  this
• 4:19
  fixes
• 4:19
  my
• 4:20
  problem.
• 4:20
  But
• 4:20
  we
• 4:21
  need
• 4:21
  to
• 4:21
  realize
• 4:21
  it
• 4:21
  doesn't
• 4:22
  fix
• 4:22
  your
• 4:22
  problem
• 4:22
  and
• 4:23
  causes
• 4:23
  you
• 4:23
  a
• 4:23
  catastrophe.
• 4:24
  And
• 4:24
  that
• 4:25
  can't
• 4:25
  be
• 4:25
  the
• 4:25
  case
• 4:25
  anymore.
• 4:26
  So
• 4:26
  it's
• 4:26
  that
• 4:27
  ability
• 4:27
  to
• 4:27
  have
• 4:27
  alignment
• 4:28
  around
• 4:28
  the
• 4:28
  strategy.
• 4:29
  It
• 4:30
  is
• 4:30
  about
• 4:30
  AI
• 4:31
  and
• 4:31
  how
• 4:31
  you
• 4:31
  can
• 4:32
  execute
• 4:32
  AI.
• 4:33
  The
• 4:33
  success
• 4:33
  of
• 4:34
  2026
• 4:34
  is
• 4:35
  the
• 4:35
  retailers
• 4:35
  that
• 4:36
  will
• 4:36
  take
• 4:36
  the
• 4:36
  AI
• 4:37
  playbook
• 4:38
  and
• 4:38
  execute
• 4:39
  it
• 4:39
  flawlessly.
• 4:40
  They
• 4:41
  win
• 4:41
  all
• 4:42
  day
• 4:42
  long.
• 4:42
  And
• 4:42
  that's
• 4:43
  the
• 4:43
  key
• 4:43
  thing.
• 4:43
  It's
• 4:43
  your
• 4:44
  point
• 4:44
  about
• 4:44
  the
• 4:44
  CEO
• 4:44
  that
• 4:44
  CEO
• 4:45
  has
• 4:45
  to
• 4:45
  be
• 4:46
  acclimated
• 4:47
  enough
• 4:47
  to
• 4:47
  define
• 4:48
  what
• 4:48
  that
• 4:48
  new
• 4:48
  playbook
• 4:49
  is
• 4:50
  for
• 4:50
  their
• 4:50
  given
• 4:50
  organization
• 4:51
  too.
• 4:51
  I'm
• 4:52
  sure
• 4:52
  you've
• 4:52
  heard
• 4:52
  a
• 4:52
  lot,
• 4:52
  but
• 4:53
  you
• 4:53
  got
• 4:53
  to
• 4:53
  start
• 4:53
  with
• 4:53
  your
• 4:54
  pinpoints
• 4:55
  rather
• 4:55
  than
• 4:55
  start
• 4:56
  with
• 4:56
  a
• 4:56
  shiny
• 4:56
  toy.
• 4:57
  And
• 4:57
  there's
• 4:57
  a
• 4:57
  lot
• 4:57
  of
• 4:58
  shiny
• 4:58
  toys
• 4:58
  out
• 4:59
  there
• 4:59
  right
• 4:59
  now.
• 5:00
  But
• 5:01
  what
• 5:01
  I
• 5:01
  would
• 5:02
  strongly
• 5:02
  suggest
• 5:02
  it
• 5:03
  is
• 5:03
  start
• 5:03
  with
• 5:03
  your
• 5:03
  pinpoints.
• 5:05
  The
• 5:05
  board
• 5:05
  itself
• 5:06
  has
• 5:06
  to
• 5:06
  be
• 5:06
  fully
• 5:06
  aligned
• 5:07
  and
• 5:07
  then
• 5:07
  the
• 5:07
  team
• 5:08
  below.
• 5:08
  So
• 5:08
  it
• 5:08
  becomes
• 5:08
  a
• 5:09
  cultural
• 5:09
  transformation,
• 5:10
  which
• 5:10
  is
• 5:10
  essentially
• 5:11
  what
• 5:11
  life
• 5:11
  is
• 5:11
  in
• 5:11
  retail
• 5:13
  with
• 5:13
  that
• 5:13
  continuous
• 5:13
  improvement.
• 5:14
  So
• 5:14
  I
• 5:14
  keep
• 5:14
  talking
• 5:15
  about
• 5:15
  flawless
• 5:15
  execution.
• 5:16
  It
• 5:17
  is
• 5:17
  honestly
• 5:17
  innovation
• 5:18
  is
• 5:18
  a
• 5:18
  distraction
• 5:19
  without
• 5:19
  execution.
• 5:20
  Otherwise
• 5:20
  it's
• 5:21
  pilot.
• 5:21
  Well,
• 5:22
  Martin,
• 5:22
  one
• 5:22
  of
• 5:23
  the
• 5:23
  reasons
• 5:23
  that
• 5:23
  we're
• 5:23
  so
• 5:23
  happy
• 5:24
  to
• 5:24
  have
• 5:24
  you
• 5:24
  here,
• 5:25
  if
• 5:25
  people
• 5:26
  couldn't
• 5:26
  tell
• 5:26
  by
• 5:26
  your
• 5:27
  lovely
• 5:27
  accent,
• 5:28
  but
• 5:29
  you
• 5:29
  also
• 5:30
  are
• 5:30
  a
• 5:30
  good
• 5:30
  person
• 5:31
  for
• 5:31
  us
• 5:31
  to
• 5:31
  kind
• 5:31
  of
• 5:32
  get
• 5:32
  some
• 5:32
  perspective
• 5:33
  at
• 5:33
  when
• 5:33
  we're
• 5:34
  looking
• 5:34
  at
• 5:34
  the
• 5:34
  differences
• 5:35
  of
• 5:35
  rolling
• 5:35
  out
• 5:36
  what
• 5:36
  you
• 5:36
  just
• 5:36
  talked
• 5:36
  about
• 5:37
  in
• 5:37
  a
• 5:37
  retail
• 5:37
  organization
• 5:38
  between
• 5:39
  what's
• 5:39
  going
• 5:39
  on
• 5:39
  in
• 5:40
  Europe
• 5:40
  and
• 5:41
  the
• 5:41
  UK
• 5:41
  and
• 5:41
  the
• 5:42
  US
• 5:42
  like,
• 5:42
  what
• 5:42
  are
• 5:43
  some
• 5:43
  of
• 5:43
  the
• 5:43
  biggest
• 5:43
  differences
• 5:44
  as
• 5:44
  you
• 5:44
  talk
• 5:44
  to
• 5:45
  more
• 5:45
  retailers
• 5:45
  in
• 5:46
  both
• 5:46
  places,
• 5:47
  what
• 5:47
  are
• 5:47
  some
• 5:48
  of
• 5:48
  the
• 5:48
  biggest
• 5:48
  differences
• 5:48
  between
• 5:49
  kind
• 5:49
  of
• 5:49
  the
• 5:50
  approach
• 5:50
  to
• 5:50
  the
• 5:51
  new
• 5:51
  frontier
• 5:51
  of
• 5:52
  retail
• 5:52
  in
• 5:52
  the
• 5:53
  US
• 5:53
  and
• 5:53
  then
• 5:54
  across.
• 5:55
  Great
• 5:55
  question,
• 5:56
  and
• 5:56
  I
• 5:56
  won't
• 5:56
  offend
• 5:57
  both
• 5:57
  sides
• 5:57
  of
• 5:57
  the
• 5:57
  pond,
• 5:58
  but
• 5:58
  you're
• 5:59
  right,
• 5:59
  it
• 5:59
  is,
• 6:00
  There
• 6:00
  is
• 6:00
  differences
• 6:01
  and
• 6:02
  both
• 6:02
  can
• 6:02
  learn.
• 6:03
  Hence
• 6:03
  you
• 6:04
  got
• 6:04
  the
• 6:04
  big
• 6:04
  show
• 6:04
  here.
• 6:05
  But
• 6:05
  there's
• 6:05
  now
• 6:05
  a
• 6:05
  new
• 6:06
  big
• 6:06
  show
• 6:06
  in
• 6:06
  Paris.
• 6:07
  There's
• 6:07
  also
• 6:07
  in
• 6:07
  Asia.
• 6:08
  So
• 6:08
  we're
• 6:08
  all
• 6:08
  trying
• 6:08
  to
• 6:09
  learn
• 6:09
  as
• 6:09
  well.
• 6:10
  So
• 6:10
  look,
• 6:10
  for
• 6:10
  me,
• 6:11
  I
• 6:12
  would
• 6:12
  say
• 6:12
  the
• 6:12
  US
• 6:12
  command
• 6:13
  that
• 6:13
  top
• 6:13
  line
• 6:14
  performance
• 6:14
  and
• 6:14
  that
• 6:15
  aggression.
• 6:15
  I
• 6:15
  think
• 6:15
  that's
• 6:16
  a
• 6:16
  massive
• 6:16
  compliment
• 6:17
  as
• 6:17
  well.
• 6:17
  Especially
• 6:17
  when
• 6:18
  you
• 6:18
  see
• 6:18
  the
• 6:18
  figures
• 6:18
  of
• 6:18
  Walmart,
• 6:19
  one
• 6:19
  perfect
• 6:20
  example,
• 6:21
  hitting
• 6:21
  that
• 6:21
  figure
• 6:22
  on
• 6:22
  top
• 6:22
  of
• 6:22
  a
• 6:22
  massive
• 6:23
  basis.
• 6:23
  Just
• 6:24
  full
• 6:24
  respect
• 6:25
  and
• 6:25
  kudos
• 6:25
  as
• 6:25
  well.
• 6:26
  Where
• 6:26
  the
• 6:26
  Europeans
• 6:27
  would
• 6:27
  be
• 6:28
  so
• 6:28
  disciplined
• 6:28
  in
• 6:29
  their
• 6:29
  processes
• 6:29
  and
• 6:29
  their
• 6:30
  systems
• 6:30
  that
• 6:30
  they
• 6:31
  are
• 6:31
  probably
• 6:32
  the
• 6:32
  masterclass
• 6:33
  of
• 6:33
  bottom
• 6:33
  line
• 6:34
  discipline.
• 6:34
  And
• 6:35
  that
• 6:35
  would
• 6:35
  be
• 6:35
  the
• 6:35
  difference
• 6:36
  between,
• 6:36
  between
• 6:36
  the
• 6:37
  two
• 6:37
  for
• 6:37
  me.
• 6:38
  Even
• 6:39
  if
• 6:39
  I
• 6:39
  use
• 6:39
  efficiency
• 6:40
  versus
• 6:41
  skill,
• 6:42
  the
• 6:43
  Europeans
• 6:44
  can
• 6:44
  look
• 6:44
  at,
• 6:45
  look
• 6:45
  after
• 6:45
  that
• 6:46
  bottom
• 6:46
  line,
• 6:46
  but
• 6:46
  they
• 6:46
  have
• 6:46
  played
• 6:47
  a
• 6:47
  card
• 6:47
  that
• 6:47
  the
• 6:48
  Americans
• 6:48
  haven't
• 6:49
  totally
• 6:49
  played.
• 6:50
  And
• 6:50
  that
• 6:50
  is
• 6:50
  the
• 6:51
  obsession
• 6:52
  with
• 6:52
  private
• 6:52
  label.
• 6:53
  If
• 6:53
  you
• 6:53
  look
• 6:53
  at
• 6:53
  the
• 6:54
  percentage
• 6:54
  of
• 6:54
  private
• 6:55
  label
• 6:55
  in
• 6:55
  Europe
• 6:55
  today,
• 6:56
  it's
• 6:56
  over
• 6:56
  45%.
• 6:57
  Where
• 6:57
  it's
• 6:57
  10%
• 6:58
  less,
• 6:58
  if
• 6:59
  not
• 6:59
  less
• 6:59
  lower
• 6:59
  actually
• 7:00
  in
• 7:00
  the
• 7:00
  U.S.
• 7:01
  so
• 7:01
  what
• 7:01
  I
• 7:01
  would
• 7:02
  say
• 7:02
  to
• 7:02
  the
• 7:02
  U.S.
• 7:03
  audience
• 7:03
  today
• 7:04
  is
• 7:04
  private
• 7:05
  label
• 7:05
  is
• 7:05
  no
• 7:05
  longer
• 7:07
  a
• 7:07
  defense,
• 7:08
  it's
• 7:08
  actually
• 7:09
  an
• 7:09
  aggression.
• 7:10
  And
• 7:10
  what
• 7:10
  the
• 7:11
  US
• 7:11
  retailers
• 7:11
  are
• 7:11
  great
• 7:12
  at,
• 7:12
  top
• 7:12
  line.
• 7:12
  So
• 7:12
  actually
• 7:13
  it
• 7:13
  works
• 7:13
  for
• 7:13
  top
• 7:13
  line.
• 7:13
  And
• 7:14
  bottom
• 7:14
  line
• 7:14
  in
• 7:14
  terms
• 7:14
  of
• 7:14
  margin
• 7:15
  protection.
• 7:16
  But
• 7:16
  also
• 7:16
  in
• 7:16
  Europe,
• 7:17
  whatever
• 7:18
  happens
• 7:18
  in
• 7:18
  Brussels
• 7:19
  when
• 7:19
  it
• 7:19
  comes
• 7:19
  to
• 7:20
  ESG
• 7:20
  or
• 7:20
  regulations.
• 7:21
  Right.
• 7:22
  Normally
• 7:22
  that's
• 7:23
  right
• 7:23
  in
• 7:24
  Brussels
• 7:24
  today
• 7:24
  and
• 7:25
  in
• 7:25
  the
• 7:25
  retailers
• 7:26
  tomorrow.
• 7:27
  That
• 7:27
  ESG
• 7:28
  mightn't
• 7:28
  be
• 7:28
  quite
• 7:29
  here
• 7:29
  in
• 7:30
  the
• 7:30
  US
• 7:30
  as
• 7:30
  of
• 7:31
  to
• 7:31
  add
• 7:31
  to
• 7:33
  even
• 7:34
  if
• 7:34
  you
• 7:34
  think
• 7:34
  about
• 7:34
  in
• 7:35
  2027
• 7:37
  they're
• 7:37
  going
• 7:37
  to
• 7:37
  change
• 7:38
  to
• 7:38
  digital
• 7:38
  product
• 7:39
  passport.
• 7:39
  Now
• 7:40
  that
• 7:40
  affects
• 7:41
  fashion
• 7:41
  first
• 7:42
  of
• 7:42
  all
• 7:42
  and
• 7:42
  then
• 7:42
  into
• 7:42
  grocery
• 7:43
  as
• 7:43
  well.
• 7:44
  However,
• 7:44
  the
• 7:44
  ability
• 7:45
  to
• 7:45
  talk
• 7:45
  about
• 7:45
  circular
• 7:46
  economy,
• 7:46
  the
• 7:46
  ability
• 7:47
  to
• 7:47
  track
• 7:48
  this
• 7:48
  jacket
• 7:49
  and
• 7:49
  if
• 7:49
  I
• 7:49
  want
• 7:49
  to
• 7:49
  resell
• 7:50
  it
• 7:50
  to
• 7:50
  you,
• 7:50
  then
• 7:51
  authenticity
• 7:52
  etc,
• 7:53
  that's
• 7:53
  a
• 7:53
  huge
• 7:53
  operational
• 7:54
  change
• 7:54
  and
• 7:55
  will
• 7:55
  cost
• 7:55
  millions.
• 7:56
  But.
• 7:56
  But
• 7:56
  it
• 7:57
  will
• 7:57
  become
• 7:57
  EU
• 7:57
  law
• 7:57
  in
• 7:58
  2027.
• 7:58
  So
• 7:58
  the
• 7:58
  retailers
• 7:59
  have
• 7:59
  to
• 7:59
  follow
• 7:59
  suit
• 8:01
  example
• 8:01
  over
• 8:02
  this
• 8:02
  side
• 8:02
  of
• 8:02
  the
• 8:02
  pond,
• 8:03
  Walmart
• 8:03
  and
• 8:03
  the
• 8:04
  freshness
• 8:05
  innovation
• 8:06
  that
• 8:06
  they've
• 8:06
  shown
• 8:07
  it
• 8:07
  was
• 8:07
  due
• 8:07
  to
• 8:09
  a
• 8:09
  regulation
• 8:10
  of
• 8:10
  food
• 8:10
  safety
• 8:11
  that
• 8:11
  was
• 8:11
  going
• 8:11
  to
• 8:11
  happen
• 8:12
  in
• 8:12
  2026.
• 8:13
  Nobody
• 8:13
  else
• 8:13
  had
• 8:14
  done
• 8:14
  it
• 8:14
  apart
• 8:14
  from
• 8:14
  Walmart.
• 8:15
  So
• 8:15
  it's
• 8:15
  moved
• 8:15
  to
• 8:16
  2028.
• 8:16
  But
• 8:16
  Walmart
• 8:17
  are
• 8:17
  now
• 8:17
  the
• 8:17
  vanguards,
• 8:18
  which
• 8:18
  they
• 8:18
  are
• 8:18
  a
• 8:18
  lot
• 8:19
  here
• 8:19
  in
• 8:19
  the
• 8:20
  us.
• 8:20
  But
• 8:20
  that's
• 8:21
  one
• 8:21
  good
• 8:21
  example
• 8:22
  around
• 8:22
  regulation
• 8:23
  changing
• 8:23
  and
• 8:24
  defining.
• 8:24
  And
• 8:24
  we're
• 8:25
  very
• 8:25
  good
• 8:25
  at
• 8:25
  compliance.
• 8:26
  Yes,
• 8:26
  you
• 8:27
  are.
• 8:27
  And
• 8:27
  then
• 8:27
  maybe
• 8:27
  the
• 8:28
  last
• 8:28
  one
• 8:29
  because
• 8:29
  labor
• 8:29
  costs
• 8:30
  are
• 8:30
  quite
• 8:31
  very
• 8:31
  high
• 8:32
  in
• 8:32
  Europe.
• 8:33
  I
• 8:33
  mean
• 8:33
  it's
• 8:33
  over
• 8:34
  €15
• 8:35
  in
• 8:35
  Germany
• 8:36
  for
• 8:36
  example,
• 8:37
  and
• 8:37
  less
• 8:37
  so
• 8:37
  here
• 8:37
  in
• 8:38
  the
• 8:38
  US.
• 8:38
  I
• 8:38
  know
• 8:38
  there's
• 8:39
  certain
• 8:39
  states
• 8:39
  that
• 8:39
  are
• 8:39
  $15
• 8:40
  etc.
• 8:41
  But
• 8:42
  that
• 8:42
  Silicon
• 8:43
  or
• 8:43
  that
• 8:43
  ability
• 8:44
  to
• 8:45
  digitize
• 8:45
  because
• 8:46
  of
• 8:46
  labor
• 8:46
  costs
• 8:47
  being
• 8:47
  so
• 8:47
  high,
• 8:49
  we're
• 8:49
  very
• 8:49
  good
• 8:49
  at
• 8:50
  in
• 8:50
  Europe.
• 8:50
  So
• 8:50
  that
• 8:50
  connected
• 8:51
  store,
• 8:51
  which
• 8:51
  is
• 8:51
  actually
• 8:52
  one
• 8:52
  of
• 8:52
  the
• 8:52
  big
• 8:52
  things
• 8:53
  that
• 8:53
  we
• 8:53
  have
• 8:53
  here
• 8:53
  with
• 8:54
  fusion,
• 8:55
  that
• 8:55
  digitalizing
• 8:56
  the
• 8:56
  store,
• 8:56
  digital
• 8:56
  transformation,
• 8:57
  connecting
• 8:58
  both
• 8:58
  the
• 8:58
  customer,
• 8:59
  the
• 8:59
  colleague
• 9:00
  and
• 9:00
  indeed
• 9:01
  central
• 9:01
  operations
• 9:02
  in
• 9:02
  terms
• 9:02
  of
• 9:02
  connectivity,
• 9:03
  we've
• 9:04
  had
• 9:04
  to
• 9:04
  do
• 9:04
  it
• 9:04
  in
• 9:04
  Europe
• 9:05
  because
• 9:05
  our
• 9:05
  labor
• 9:05
  costs
• 9:06
  are
• 9:06
  only
• 9:06
  going
• 9:06
  in
• 9:06
  one
• 9:06
  direction.
• 9:07
  It
• 9:07
  won't
• 9:07
  be
• 9:07
  that
• 9:07
  far
• 9:07
  until
• 9:08
  it's
• 9:08
  €20
• 9:09
  an
• 9:09
  hour.
• 9:09
  And
• 9:10
  that's
• 9:10
  not
• 9:10
  easy
• 9:10
  to
• 9:11
  manage
• 9:11
  an
• 9:11
  operating
• 9:11
  model
• 9:12
  whatsoever.
• 9:12
  So
• 9:13
  I
• 9:13
  would
• 9:13
  say
• 9:13
  that's
• 9:13
  another
• 9:14
  big
• 9:14
  difference
• 9:14
  where
• 9:15
  I
• 9:15
  think
• 9:15
  the
• 9:15
  US
• 9:15
  can
• 9:16
  learn.
• 9:17
  But
• 9:17
  there's
• 9:17
  no
• 9:17
  doubt
• 9:18
  there's
• 9:18
  so
• 9:18
  many
• 9:18
  positives
• 9:19
  and
• 9:19
  so
• 9:19
  many
• 9:19
  great,
• 9:20
  great
• 9:20
  retailers
• 9:20
  that
• 9:20
  we've
• 9:21
  all
• 9:21
  and
• 9:21
  you've
• 9:21
  interviewed
• 9:22
  now,
• 9:22
  but
• 9:22
  I've
• 9:22
  seen
• 9:22
  them
• 9:23
  this
• 9:23
  week
• 9:23
  as
• 9:23
  well.
• 9:24
  So
• 9:25
  if
• 9:25
  we
• 9:25
  keep
• 9:25
  learning
• 9:25
  together,
• 9:26
  we'll
• 9:26
  be
• 9:26
  far
• 9:26
  better.
• 9:27
  But
• 9:27
  that
• 9:27
  would
• 9:27
  be
• 9:27
  the
• 9:27
  big
• 9:27
  difference
• 9:28
  between
• 9:28
  maybe
• 9:29
  US
• 9:29
  and
• 9:29
  Europe.
• 9:30
  And
• 9:30
  my
• 9:30
  apologies
• 9:30
  on
• 9:31
  the
• 9:31
  if
• 9:32
  it's
• 9:32
  in
• 9:32
  Brussels
• 9:32
  today,
• 9:33
  it'll
• 9:33
  be
• 9:33
  in
• 9:33
  the
• 9:33
  retailers
• 9:34
  tomorrow.
• 9:34
  No,
• 9:35
  no
• 9:35
  apology
• 9:35
  needed.
• 9:36
  No,
• 9:36
  that's
• 9:36
  a
• 9:36
  really
• 9:37
  interesting
• 9:37
  point
• 9:37
  of
• 9:37
  view
• 9:37
  and
• 9:37
  it
• 9:37
  gives
• 9:38
  you
• 9:38
  a
• 9:38
  sense
• 9:38
  of
• 9:38
  why
• 9:38
  on
• 9:38
  the
• 9:38
  show
• 9:38
  we
• 9:39
  always
• 9:39
  kind
• 9:39
  of
• 9:39
  say
• 9:39
  that
• 9:40
  Europe
• 9:40
  from
• 9:40
  our
• 9:40
  standpoint
• 9:41
  feels
• 9:41
  like
• 9:41
  it's
• 9:41
  10
• 9:41
  years
• 9:42
  in
• 9:42
  front
• 9:42
  of
• 9:42
  the
• 9:42
  US
• 9:42
  on
• 9:43
  innovation.
• 9:43
  But
• 9:44
  it's
• 9:44
  probably
• 9:44
  when
• 9:44
  I
• 9:45
  step
• 9:45
  back
• 9:45
  and
• 9:45
  think
• 9:45
  about
• 9:45
  it,
• 9:46
  it's
• 9:46
  probably
• 9:46
  the
• 9:46
  innovation
• 9:46
  that
• 9:47
  is
• 9:47
  more
• 9:47
  on
• 9:47
  the
• 9:48
  things
• 9:48
  that
• 9:48
  we
• 9:48
  get
• 9:48
  excited
• 9:49
  about,
• 9:49
  which
• 9:49
  is
• 9:49
  the
• 9:50
  operational
• 9:50
  efficiency
• 9:51
  drivers.
• 9:51
  Yeah,
• 9:52
  look,
• 9:52
  even
• 9:52
  if
• 9:53
  I
• 9:53
  look
• 9:53
  at,
• 9:54
  I'm
• 9:54
  sad
• 9:54
  enough
• 9:55
  to
• 9:55
  come
• 9:55
  into
• 9:55
  New
• 9:56
  York
• 9:56
  and
• 9:56
  the
• 9:56
  first
• 9:56
  thing
• 9:56
  I
• 9:56
  do
• 9:57
  is
• 9:57
  go
• 9:57
  see
• 9:57
  retailers,
• 9:58
  food
• 9:58
  and
• 9:58
  fashion
• 9:59
  and
• 9:59
  there's
• 10:00
  some
• 10:00
  amazing,
• 10:00
  I've
• 10:00
  taken
• 10:01
  loads
• 10:01
  of
• 10:01
  photographs,
• 10:01
  there's
• 10:01
  some
• 10:02
  amazing
• 10:02
  things
• 10:02
  we
• 10:02
  can
• 10:02
  learn
• 10:03
  from
• 10:03
  both
• 10:03
  sides
• 10:04
  of
• 10:04
  the
• 10:04
  pond.
• 10:05
  But
• 10:05
  I
• 10:05
  would
• 10:06
  say
• 10:06
  there's
• 10:06
  probably
• 10:08
  a
• 10:08
  must
• 10:08
  do
• 10:09
  in
• 10:09
  Europe
• 10:09
  and
• 10:09
  I
• 10:10
  think
• 10:10
  it's
• 10:10
  like
• 10:10
  we
• 10:11
  want
• 10:11
  to
• 10:11
  do
• 10:11
  here
• 10:11
  in
• 10:12
  US
• 10:12
  but
• 10:12
  that
• 10:12
  is
• 10:12
  changing
• 10:13
  now.
• 10:13
  And
• 10:13
  even
• 10:14
  who
• 10:14
  you've
• 10:14
  seen
• 10:14
  this
• 10:14
  does.
• 10:15
  Seem
• 10:15
  like
• 10:15
  it's
• 10:15
  changed.
• 10:15
  It's
• 10:16
  definitely
• 10:16
  changing
• 10:16
  because
• 10:16
  it's
• 10:17
  a
• 10:17
  non
• 10:17
  negotiable.
• 10:18
  The
• 10:18
  whole
• 10:18
  world
• 10:18
  has
• 10:19
  become
• 10:19
  more
• 10:19
  expensive.
• 10:21
  Moving
• 10:21
  stock
• 10:22
  globally
• 10:22
  is
• 10:22
  now
• 10:22
  over
• 10:23
  $1.2
• 10:24
  trillion.
• 10:26
  Moving
• 10:26
  stock
• 10:26
  around
• 10:27
  the
• 10:27
  world,
• 10:27
  that's
• 10:28
  up
• 10:28
  5.4%.
• 10:30
  So
• 10:30
  how
• 10:30
  do
• 10:31
  you
• 10:32
  save
• 10:32
  5.4%
• 10:34
  on
• 10:34
  your
• 10:34
  movement
• 10:34
  of
• 10:35
  stock
• 10:35
  and
• 10:35
  your
• 10:36
  inventory?
• 10:36
  You
• 10:37
  got
• 10:37
  to
• 10:37
  find
• 10:37
  it
• 10:37
  with
• 10:37
  the
• 10:38
  technology.
• 10:38
  You
• 10:38
  got
• 10:38
  to
• 10:39
  find
• 10:39
  it
• 10:39
  with
• 10:39
  AI.
• 10:40
  And
• 10:40
  like
• 10:40
  we,
• 10:41
  we
• 10:41
  joked
• 10:41
  earlier
• 10:42
  on
• 10:42
  about,
• 10:42
  I
• 10:43
  think
• 10:43
  most
• 10:43
  of
• 10:43
  the
• 10:43
  booths
• 10:44
  had
• 10:44
  AI
• 10:45
  last
• 10:45
  year
• 10:45
  and
• 10:45
  they've
• 10:45
  just
• 10:45
  slapped
• 10:46
  agentic
• 10:46
  on
• 10:46
  it
• 10:47
  beforehand.
• 10:48
  So
• 10:48
  now
• 10:48
  we
• 10:48
  have
• 10:48
  agentic
• 10:49
  AI
• 10:49
  is
• 10:49
  the
• 10:50
  big
• 10:50
  one.
• 10:50
  But
• 10:50
  agentic
• 10:51
  AI
• 10:51
  is
• 10:51
  no
• 10:51
  longer
• 10:53
  a
• 10:53
  dream
• 10:54
  or
• 10:54
  no
• 10:54
  longer
• 10:55
  anything
• 10:55
  that
• 10:56
  you
• 10:57
  would
• 10:57
  like
• 10:57
  to
• 10:57
  do,
• 10:57
  you
• 10:58
  have
• 10:58
  to
• 10:58
  do.
• 10:58
  Let's
• 10:59
  talk
• 10:59
  about
• 10:59
  that.
• 10:59
  Martin.
• 10:59
  I
• 10:59
  think
• 10:59
  that's
• 11:00
  a
• 11:00
  good
• 11:00
  way
• 11:00
  to
• 11:00
  close
• 11:00
  us
• 11:00
  out.
• 11:01
  You
• 11:01
  know,
• 11:01
  like
• 11:01
  what,
• 11:02
  what
• 11:02
  is
• 11:02
  your
• 11:02
  take
• 11:02
  on
• 11:03
  the,
• 11:03
  the
• 11:04
  frontier
• 11:04
  of
• 11:04
  technology
• 11:05
  in
• 11:05
  retail
• 11:05
  as
• 11:06
  we
• 11:06
  look
• 11:06
  forward
• 11:06
  to
• 11:06
  2026?
• 11:08
  So
• 11:09
  if
• 11:09
  you
• 11:09
  look
• 11:09
  at
• 11:10
  the
• 11:10
  tech
• 11:11
  that
• 11:11
  I'm
• 11:11
  pretty
• 11:11
  excited
• 11:12
  about,
• 11:12
  agenda
• 11:12
  AI
• 11:13
  is,
• 11:13
  is,
• 11:13
  is
• 11:14
  the
• 11:14
  ability
• 11:14
  to
• 11:15
  make
• 11:15
  big
• 11:15
  data
• 11:17
  transferable,
• 11:18
  translatable
• 11:19
  and
• 11:19
  actionable.
• 11:20
  And
• 11:21
  that
• 11:21
  is
• 11:22
  pretty
• 11:22
  powerful.
• 11:23
  And
• 11:23
  that
• 11:23
  goes
• 11:23
  well
• 11:24
  beyond
• 11:24
  AI,
• 11:24
  generative
• 11:25
  AI.
• 11:26
  And
• 11:26
  if
• 11:26
  you
• 11:26
  think
• 11:26
  about
• 11:27
  how
• 11:28
  the
• 11:28
  agent,
• 11:29
  the
• 11:29
  agents
• 11:29
  of
• 11:30
  agent
• 11:30
  AI,
• 11:32
  it
• 11:33
  multitasks
• 11:34
  first
• 11:34
  of
• 11:34
  all,
• 11:34
  which
• 11:35
  is
• 11:35
  brilliant.
• 11:35
  Second
• 11:36
  of
• 11:36
  all,
• 11:36
  the
• 11:36
  accuracy
• 11:37
  from
• 11:37
  end
• 11:37
  to
• 11:37
  end
• 11:38
  process
• 11:38
  in
• 11:38
  which
• 11:39
  the
• 11:39
  human
• 11:40
  or
• 11:40
  the
• 11:40
  processes
• 11:41
  or
• 11:41
  the
• 11:41
  framework
• 11:41
  of
• 11:41
  retailers
• 11:42
  today
• 11:42
  don't
• 11:43
  have,
• 11:43
  they
• 11:43
  have
• 11:43
  maybe
• 11:44
  at
• 11:44
  best
• 11:45
  86,
• 11:45
  88%
• 11:46
  compliance,
• 11:46
  where
• 11:47
  if
• 11:47
  you
• 11:47
  do
• 11:47
  install
• 11:48
  it,
• 11:48
  a
• 11:48
  back
• 11:48
  office
• 11:48
  agenda
• 11:49
  guy,
• 11:49
  it's
• 11:49
  over
• 11:49
  90%.
• 11:51
  So
• 11:51
  that's
• 11:52
  going
• 11:52
  to
• 11:52
  create
• 11:52
  a
• 11:52
  lot
• 11:52
  of
• 11:53
  value,
• 11:53
  it's
• 11:53
  going
• 11:53
  to
• 11:54
  bring
• 11:54
  a
• 11:54
  lot
• 11:54
  of
• 11:54
  data
• 11:54
  that
• 11:55
  is
• 11:55
  actionable,
• 11:55
  you're
• 11:56
  going
• 11:56
  to
• 11:56
  make
• 11:56
  better
• 11:56
  decisions
• 11:57
  and
• 11:57
  ultimately
• 11:58
  you're
• 11:58
  going
• 11:58
  to
• 11:58
  find
• 11:59
  a
• 11:59
  more
• 11:59
  agile
• 12:00
  company
• 12:01
  because
• 12:01
  agility
• 12:02
  is
• 12:03
  back
• 12:03
  to
• 12:03
  the
• 12:03
  point
• 12:03
  around
• 12:04
  pilot,
• 12:05
  too
• 12:05
  many
• 12:05
  pilots.
• 12:06
  Agility
• 12:06
  has
• 12:07
  just
• 12:07
  been
• 12:08
  razor
• 12:08
  sharp
• 12:08
  on
• 12:09
  your
• 12:09
  strategy
• 12:09
  around
• 12:10
  AI
• 12:10
  and
• 12:10
  agentic
• 12:11
  AI
• 12:11
  and
• 12:12
  then
• 12:12
  flawless
• 12:12
  execution.
• 12:13
  What?
• 12:13
  I
• 12:13
  would
• 12:14
  also
• 12:14
  say
• 12:15
  Metaverse
• 12:15
  is
• 12:15
  coming
• 12:16
  back.
• 12:16
  Really?
• 12:17
  Yeah.
• 12:17
  Because
• 12:18
  obviously
• 12:18
  about
• 12:18
  10
• 12:19
  years
• 12:19
  ago,
• 12:19
  pre
• 12:19
  Covid,
• 12:19
  we
• 12:20
  were
• 12:20
  talking
• 12:20
  about
• 12:20
  Metaverse.
• 12:21
  Feels
• 12:21
  like
• 12:22
  there's
• 12:23
  a
• 12:23
  lot
• 12:23
  of
• 12:23
  vision
• 12:24
  technology
• 12:24
  around
• 12:24
  NRF
• 12:25
  today,
• 12:26
  but
• 12:26
  even
• 12:26
  the
• 12:27
  examples
• 12:27
  of
• 12:28
  Metaverse,
• 12:29
  you
• 12:30
  can
• 12:30
  now
• 12:30
  simulate
• 12:31
  supply
• 12:31
  chain
• 12:32
  logistics,
• 12:33
  warehousing
• 12:34
  full
• 12:34
  value
• 12:35
  chain
• 12:35
  in
• 12:36
  the
• 12:36
  Metaverse
• 12:36
  before
• 12:37
  you
• 12:37
  even
• 12:37
  put
• 12:37
  a
• 12:37
  penny
• 12:38
  or
• 12:38
  a
• 12:38
  cent
• 12:39
  into
• 12:40
  your
• 12:40
  investment
• 12:40
  pot.
• 12:41
  And
• 12:41
  that
• 12:42
  is
• 12:42
  pretty
• 12:42
  exciting
• 12:43
  as
• 12:43
  well.
• 12:43
  So
• 12:43
  I
• 12:43
  would
• 12:44
  even
• 12:44
  say
• 12:44
  agentic
• 12:45
  AI
• 12:45
  by
• 12:45
  far
• 12:46
  is
• 12:46
  the
• 12:47
  thing
• 12:47
  that
• 12:47
  everybody's
• 12:47
  talking
• 12:48
  about.
• 12:48
  But
• 12:48
  Metaverse
• 12:49
  is
• 12:49
  making
• 12:49
  a
• 12:49
  comeback.
• 12:50
  Keep
• 12:50
  an
• 12:51
  eye
• 12:51
  out
• 12:51
  for
• 12:51
  metaverse.
• 12:51
  Yes,
• 12:52
  RFID
• 12:53
  2.0
• 12:54
  is
• 12:54
  already
• 12:54
  here.
• 12:54
  I'm
• 12:54
  pretty
• 12:55
  excited.
• 12:55
  So
• 12:55
  there
• 12:55
  would
• 12:55
  be
• 12:56
  three
• 12:56
  big
• 12:56
  buckets
• 12:57
  in
• 12:57
  terms
• 12:57
  of
• 12:57
  technology
• 12:58
  that
• 12:58
  will
• 12:58
  shift
• 12:59
  the
• 12:59
  needle
• 13:00
  into
• 13:00
  making
• 13:00
  retailers
• 13:01
  more
• 13:01
  agile
• 13:02
  and
• 13:03
  more
• 13:03
  collaborative
• 13:03
  within
• 13:04
  their
• 13:05
  respective
• 13:06
  departments
• 13:06
  of
• 13:07
  their
• 13:07
  company.
• 13:08
  I'm
• 13:08
  also
• 13:09
  then
• 13:09
  supporting
• 13:09
  the
• 13:10
  shareholders,
• 13:10
  making
• 13:10
  more
• 13:11
  money.
• 13:11
  And
• 13:11
  that's
• 13:11
  ultimately
• 13:12
  what
• 13:12
  we
• 13:12
  want
• 13:12
  to
• 13:12
  do.
• 13:12
  Serving
• 13:13
  our
• 13:13
  customers
• 13:13
  the
• 13:14
  right
• 13:14
  way
• 13:14
  as
• 13:14
  well.
• 13:15
  Still
• 13:15
  can't
• 13:15
  believe
• 13:16
  you
• 13:16
  said
• 13:16
  Metaverse,
• 13:17
  Martin.
• 13:17
  I'm
• 13:17
  sorry.
• 13:21
  It's
• 13:21
  the
• 13:21
  comeback.
• 13:21
  Metaverse
• 13:22
  2.0.
• 13:23
  I
• 13:24
  don't
• 13:24
  even
• 13:24
  know
• 13:24
  what
• 13:24
  world
• 13:24
  I'm
• 13:24
  in
• 13:24
  right
• 13:25
  now.
• 13:25
  All
• 13:25
  right,
• 13:26
  well,
• 13:26
  thank
• 13:26
  you
• 13:26
  so
• 13:26
  much,
• 13:27
  Martin.
• 13:27
  We
• 13:27
  really
• 13:27
  appreciate
• 13:28
  your
• 13:28
  time.
• 13:29
  I'm
• 13:29
  sure
• 13:30
  our
• 13:30
  audience
• 13:30
  will
• 13:30
  too.
• 13:31
  Thanks
• 13:31
  again
• 13:31
  to
• 13:32
  Viewsion
• 13:32
  for
• 13:32
  making
• 13:32
  all
• 13:33
  of
• 13:33
  our
• 13:33
  coverage
• 13:33
  here
• 13:33
  at
• 13:34
  NRF
• 13:34
  possible.
• 13:36
  We
• 13:36
  will
• 13:37
  be
• 13:37
  coming
• 13:37
  back
• 13:38
  to
• 13:38
  you
• 13:38
  with
• 13:38
  one
• 13:39
  more
• 13:39
  interview
• 13:39
  today.
• 13:40
  And
• 13:40
  until
• 13:41
  then,
• 13:42
  be
• 13:42
  careful
• 13:43
  out
• 13:43
  there.