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2024's Most Overhyped Retail Tech: From Device AI to Smart Carts · Omni Talk Retail

• 0:00
  Most
• 0:00
  overhyped
• 0:01
  retail
• 0:01
  technology
• 0:02
  of
• 0:03
  2024
• 0:04
  David.
• 0:04
  Ritter
• 0:05
  Just
• 0:05
  to
• 0:05
  be
• 0:05
  clear,
• 0:05
  it
• 0:05
  was
• 0:06
  retail
• 0:06
  technology
• 0:07
  or
• 0:07
  trend
• 0:08
  and
• 0:09
  I'm
• 0:09
  going
• 0:09
  with
• 0:09
  trend
• 0:11
  technology
• 0:12
  in
• 0:12
  this
• 0:13
  case.
• 0:13
  Yeah,
• 0:14
  I
• 0:14
  actually
• 0:14
  think
• 0:15
  tariffs
• 0:16
  and
• 0:17
  it's
• 0:18
  not
• 0:18
  because
• 0:18
  I
• 0:18
  think
• 0:18
  tariffs
• 0:19
  are
• 0:19
  not
• 0:19
  going
• 0:20
  to
• 0:20
  be
• 0:20
  a
• 0:20
  big
• 0:21
  deal.
• 0:21
  I
• 0:21
  think
• 0:22
  that
• 0:22
  retailers
• 0:23
  have
• 0:23
  not
• 0:23
  adjusted
• 0:24
  their,
• 0:25
  their
• 0:25
  cogs
• 0:26
  have
• 0:26
  not
• 0:26
  adjusted
• 0:27
  their
• 0:27
  prices
• 0:27
  have
• 0:27
  not
• 0:28
  yet
• 0:29
  truly
• 0:29
  adjusted
• 0:30
  based
• 0:30
  on
• 0:30
  these
• 0:31
  tariffs.
• 0:31
  And
• 0:31
  I
• 0:32
  think
• 0:32
  we've
• 0:33
  got
• 0:33
  two
• 0:33
  years
• 0:33
  of
• 0:34
  tariff
• 0:34
  negotiations
• 0:35
  before
• 0:35
  any
• 0:36
  thing
• 0:36
  is
• 0:36
  truly
• 0:37
  implemented.
• 0:37
  So
• 0:38
  in
• 0:38
  some
• 0:38
  ways
• 0:38
  I
• 0:38
  think,
• 0:39
  I
• 0:39
  think
• 0:39
  tariffs
• 0:40
  are
• 0:40
  a
• 0:40
  bit
• 0:40
  of
• 0:41
  overstated
• 0:42
  in
• 0:42
  terms
• 0:43
  of
• 0:43
  their
• 0:43
  immediacy
• 0:44
  of
• 0:44
  importance.
• 0:45
  Got
• 0:46
  it.
• 0:46
  So
• 0:46
  tariffs
• 0:46
  as
• 0:47
  a
• 0:47
  red
• 0:47
  herring.
• 0:47
  Yes,
• 0:47
  that's
• 0:48
  right
• 0:48
  and
• 0:48
  good
• 0:48
  call
• 0:48
  out.
• 0:48
  Yes,
• 0:49
  it's
• 0:49
  retail
• 0:49
  technology
• 0:50
  or
• 0:50
  trend.
• 0:51
  Most
• 0:51
  over
• 0:51
  hyped
• 0:52
  retail
• 0:52
  technology
• 0:53
  or
• 0:53
  trend.
• 0:54
  And
• 0:54
  what
• 0:54
  was
• 0:55
  yours?
• 0:56
  You
• 0:56
  know
• 0:57
  mine's
• 0:57
  still
• 0:57
  the
• 0:57
  caper
• 0:58
  cart
• 0:58
  Chris
• 0:59
  I
• 0:59
  have
• 1:00
  to
• 1:00
  say
• 1:00
  like
• 1:01
  I
• 1:01
  still
• 1:02
  feel
• 1:02
  like
• 1:02
  this
• 1:03
  year
• 1:03
  we,
• 1:04
  I
• 1:04
  definitely
• 1:04
  saw
• 1:05
  at
• 1:05
  grocery
• 1:05
  shop
• 1:06
  more
• 1:06
  use
• 1:07
  cases
• 1:07
  for
• 1:07
  it
• 1:08
  but
• 1:08
  I
• 1:08
  still
• 1:08
  feel
• 1:09
  like
• 1:09
  it's
• 1:09
  very
• 1:10
  cost
• 1:10
  prohibitive
• 1:11
  for
• 1:11
  the
• 1:12
  majority
• 1:12
  of
• 1:12
  grocers.
• 1:13
  I
• 1:14
  think
• 1:14
  it's
• 1:14
  going
• 1:14
  to
• 1:14
  be
• 1:14
  a
• 1:15
  lot
• 1:15
  longer
• 1:16
  rollout
• 1:16
  than
• 1:17
  we,
• 1:17
  we
• 1:17
  even
• 1:18
  anticipate.
• 1:19
  I
• 1:19
  just,
• 1:20
  I
• 1:20
  don't
• 1:20
  see
• 1:20
  a
• 1:20
  lot
• 1:20
  of
• 1:21
  retailers
• 1:21
  investing
• 1:22
  the
• 1:22
  money
• 1:22
  in
• 1:23
  caper
• 1:23
  carts
• 1:24
  especially
• 1:25
  like
• 1:25
  chain
• 1:25
  wide.
• 1:26
  I
• 1:26
  think
• 1:26
  it's
• 1:26
  still
• 1:26
  experimental
• 1:27
  and
• 1:27
  they're
• 1:27
  still
• 1:27
  too
• 1:28
  cost
• 1:28
  prohibitive.
• 1:29
  So
• 1:29
  that's
• 1:29
  mine.
• 1:30
  Interesting.
• 1:30
  Interesting.
• 1:31
  Chad,
• 1:31
  I
• 1:31
  might,
• 1:31
  I
• 1:32
  might
• 1:32
  want
• 1:32
  you
• 1:32
  to
• 1:32
  rebut
• 1:33
  on
• 1:33
  that
• 1:33
  one
• 1:33
  a
• 1:33
  little
• 1:33
  bit.
• 1:33
  I
• 1:34
  actually
• 1:34
  think
• 1:34
  they're
• 1:34
  properly
• 1:35
  rated
• 1:35
  at
• 1:35
  this
• 1:35
  point,
• 1:36
  especially
• 1:36
  with
• 1:36
  the
• 1:36
  retail
• 1:37
  media
• 1:37
  play.
• 1:37
  I
• 1:37
  don't,
• 1:38
  I
• 1:38
  don't
• 1:38
  think
• 1:38
  they're
• 1:38
  as
• 1:38
  over
• 1:38
  hyped
• 1:39
  as
• 1:39
  we
• 1:39
  used
• 1:39
  to
• 1:39
  think
• 1:39
  they
• 1:40
  are.
• 1:40
  But,
• 1:40
  but
• 1:40
  Chad,
• 1:41
  what
• 1:41
  was
• 1:41
  yours?
• 1:42
  And
• 1:42
  if
• 1:42
  you
• 1:42
  want
• 1:42
  to
• 1:43
  comment
• 1:43
  on
• 1:43
  any
• 1:43
  of
• 1:44
  the
• 1:44
  things
• 1:44
  that
• 1:44
  Ann
• 1:44
  said
• 1:45
  about
• 1:45
  smart
• 1:45
  cards
• 1:45
  because
• 1:46
  I
• 1:46
  know
• 1:46
  you're
• 1:46
  a
• 1:46
  big
• 1:46
  fan
• 1:47
  with
• 1:47
  a
• 1:47
  lot
• 1:47
  of
• 1:47
  personal
• 1:48
  experience
• 1:48
  in
• 1:48
  the
• 1:48
  space.
• 1:49
  Let
• 1:49
  Dave
• 1:50
  St
• 1:50
  down
• 1:51
  at,
• 1:51
  at
• 1:51
  Schnucks
• 1:52
  provide
• 1:52
  the,
• 1:52
  the
• 1:52
  rebuttal.
• 1:53
  So
• 1:57
  all
• 1:57
  right,
• 1:57
  overhyped
• 1:58
  tech.
• 1:58
  Let's
• 1:59
  see
• 1:59
  what
• 1:59
  David
• 1:59
  had
• 2:00
  to
• 2:00
  say
• 2:00
  here.
• 2:03
  He
• 2:03
  said
• 2:04
  okay,
• 2:05
  interesting.
• 2:05
  He
• 2:06
  said
• 2:06
  device
• 2:07
  AI.
• 2:08
  Device
• 2:08
  AI.
• 2:09
  Which
• 2:09
  is,
• 2:10
  which
• 2:10
  is,
• 2:10
  which
• 2:10
  is,
• 2:10
  which
• 2:11
  is
• 2:11
  an
• 2:11
  interesting
• 2:11
  one.
• 2:12
  Right?
• 2:12
  I
• 2:12
  mean
• 2:12
  I
• 2:12
  think
• 2:12
  we
• 2:13
  all,
• 2:13
  we
• 2:13
  all
• 2:14
  know
• 2:14
  that
• 2:14
  AI
• 2:14
  and
• 2:14
  gen
• 2:15
  AI
• 2:15
  is
• 2:15
  going
• 2:16
  to
• 2:16
  be
• 2:16
  huge,
• 2:16
  but
• 2:16
  it's
• 2:17
  just
• 2:17
  not,
• 2:17
  it's
• 2:18
  just
• 2:18
  still
• 2:18
  not
• 2:18
  ready
• 2:18
  on
• 2:18
  consumer
• 2:19
  devices.
• 2:19
  Right?
• 2:20
  I
• 2:20
  mean
• 2:20
  Apple
• 2:21
  intelligence
• 2:22
  isn't
• 2:22
  really
• 2:22
  useful
• 2:23
  yet.
• 2:24
  Same
• 2:24
  with
• 2:24
  Gemini.
• 2:25
  Like
• 2:26
  the
• 2:26
  hype
• 2:26
  train
• 2:26
  is
• 2:27
  early.
• 2:27
  You
• 2:27
  know
• 2:27
  it's
• 2:28
  like
• 2:29
  spending
• 2:29
  fantasy
• 2:30
  football
• 2:30
  draft
• 2:30
  capital
• 2:31
  on
• 2:32
  you
• 2:32
  know,
• 2:32
  rookie
• 2:33
  Jonathan
• 2:33
  Brooks
• 2:33
  this
• 2:33
  year.
• 2:34
  You
• 2:34
  know
• 2:34
  it's
• 2:34
  going
• 2:34
  to
• 2:34
  be
• 2:35
  good
• 2:35
  but
• 2:35
  just
• 2:35
  2024
• 2:36
  is
• 2:36
  just
• 2:36
  a
• 2:37
  little
• 2:37
  too
• 2:37
  early
• 2:39
  but
• 2:39
  anyway
• 2:39
  that's
• 2:40
  that
• 2:40
  that
• 2:40
  was
• 2:40
  David's
• 2:41
  I
• 2:41
  mean
• 2:41
  honestly
• 2:42
  I
• 2:42
  wrote
• 2:42
  on
• 2:42
  the
• 2:42
  back
• 2:42
  of
• 2:43
  the
• 2:43
  envelope
• 2:43
  it
• 2:43
  was
• 2:44
  you
• 2:44
  know
• 2:44
  just
• 2:44
  walk
• 2:44
  out
• 2:45
  technology
• 2:46
  you
• 2:47
  know
• 2:47
  I
• 2:48
  you
• 2:48
  know
• 2:49
  done
• 2:50
  personal
• 2:50
  vote
• 2:50
  on
• 2:50
  that
• 2:51
  one
• 2:51
  to
• 2:52
  to
• 2:52
  you
• 2:52
  know
• 2:52
  compliment
• 2:53
  what
• 2:53
  you
• 2:53
  said
• 2:53
  earlier.
• 2:54
  Chris
• 2:55
  Nice
• 2:56
  nice
• 2:56
  Well
• 2:56
  mine,
• 2:56
  mine
• 2:57
  mine's
• 2:57
  just
• 2:57
  a
• 2:57
  quick
• 2:57
  one
• 2:58
  Mine
• 2:58
  was
• 2:58
  mine
• 2:58
  was
• 2:59
  Target's
• 3:00
  CarPlay
• 3:00
  integration
• 3:01
  which
• 3:01
  I
• 3:01
  think
• 3:02
  in
• 3:02
  general
• 3:02
  you
• 3:03
  know
• 3:03
  people
• 3:03
  would
• 3:03
  be
• 3:03
  like
• 3:03
  yeah
• 3:04
  whatever
• 3:04
  but
• 3:04
  Target
• 3:05
  actually
• 3:05
  singled
• 3:05
  that
• 3:06
  out
• 3:06
  in
• 3:06
  their
• 3:06
  earnings
• 3:06
  call
• 3:07
  as
• 3:07
  one
• 3:07
  of
• 3:08
  their
• 3:08
  key
• 3:08
  achievements
• 3:08
  in
• 3:09
  the
• 3:09
  third
• 3:09
  quarter
• 3:09
  which
• 3:09
  I
• 3:09
  just
• 3:10
  thought
• 3:10
  was
• 3:10
  laughable
• 3:11
  especially
• 3:11
  considering
• 3:11
  their
• 3:12
  their
• 3:12
  Digital
• 3:12
  growth
• 3:12
  was
• 3:13
  11%
• 3:13
  against
• 3:14
  Walmart's
• 3:14
  20%
• 3:15
  and
• 3:15
  Costco's
• 3:15
  30
• 3:16
  13%
• 3:17
  so
• 3:17
  to
• 3:17
  say
• 3:18
  that
• 3:18
  CarPlay
• 3:19
  is
• 3:19
  what
• 3:19
  you're
• 3:19
  talking
• 3:19
  about
• 3:19
  technologically
• 3:20
  is
• 3:20
  just
• 3:21
  hilarious
• 3:21
  to
• 3:21
  me
• 3:22
  because
• 3:22
  if
• 3:22
  it's
• 3:22
  true
• 3:23
  like
• 3:23
  why
• 3:23
  are
• 3:23
  you
• 3:23
  still
• 3:23
  lagging
• 3:23
  behind
• 3:24
  in
• 3:24
  those
• 3:24
  against
• 3:25
  those
• 3:25
  competitors?
• 3:25
  So
• 3:26
  that
• 3:26
  that
• 3:26
  was
• 3:26
  mine
• 3:27
  and.