Latest / Omni Talk Retail / Amazon’s Same-Day Push, Warby & Why Ulta Won’t Be Target’s Last Shop-In-Shop Regret | Fast Five

Transcript

Amazon’s Same-Day Push, Warby & Why Ulta Won’t Be Target’s Last Shop-In-Shop Regret | Fast Five · Omni Talk Retail

• 0:00
  This
• 0:01
  episode
• 0:01
  of
• 0:01
  The
• 0:01
  OmniTalk
• 0:02
  Retail
• 0:02
  Fast
• 0:02
  5
• 0:03
  is
• 0:03
  brought
• 0:03
  to
• 0:03
  you
• 0:03
  by
• 0:03
  the
• 0:04
  A
• 0:04
  and
• 0:04
  M
• 0:04
  Consumer
• 0:05
  and
• 0:05
  Retail
• 0:05
  Group.
• 0:06
  The
• 0:06
  A
• 0:06
  and
• 0:06
  M
• 0:06
  Consumer
• 0:07
  and
• 0:07
  Retail
• 0:07
  Group
• 0:07
  is
• 0:08
  a
• 0:08
  management
• 0:08
  consulting
• 0:09
  firm
• 0:09
  that
• 0:09
  tackles
• 0:10
  the
• 0:10
  most
• 0:10
  complex
• 0:10
  challenges
• 0:11
  and
• 0:11
  advances
• 0:12
  its
• 0:12
  clients,
• 0:13
  people
• 0:13
  and
• 0:14
  communities
• 0:14
  towards
• 0:15
  their
• 0:15
  maximum
• 0:15
  potential.
• 0:16
  CRG
• 0:17
  brings
• 0:17
  the
• 0:17
  experience,
• 0:18
  tools
• 0:18
  and
• 0:18
  operator
• 0:19
  like
• 0:19
  pragmatism
• 0:20
  to
• 0:20
  help
• 0:20
  retailers
• 0:21
  and
• 0:21
  consumer
• 0:22
  products
• 0:22
  companies
• 0:23
  be
• 0:23
  on
• 0:23
  the
• 0:23
  right
• 0:23
  side
• 0:24
  of
• 0:24
  disruption
• 0:25
  and
• 0:25
  Miracle,
• 0:26
  the
• 0:26
  catalyst
• 0:27
  of
• 0:27
  Commerce.
• 0:28
  Over
• 0:28
  450
• 0:29
  retailers
• 0:30
  are
• 0:30
  opening
• 0:30
  new
• 0:31
  revenue
• 0:31
  streams
• 0:32
  with
• 0:32
  marketplaces,
• 0:32
  dropship
• 0:33
  and
• 0:33
  retail
• 0:34
  media
• 0:34
  and
• 0:35
  succeeding.
• 0:35
  With
• 0:36
  Miracle,
• 0:36
  you
• 0:36
  can
• 0:37
  unlock
• 0:37
  more
• 0:37
  products,
• 0:38
  more
• 0:38
  partners
• 0:39
  and
• 0:39
  more
• 0:39
  profits
• 0:40
  without
• 0:40
  the
• 0:40
  heavy
• 0:41
  lifting.
• 0:41
  What's
• 0:42
  holding
• 0:42
  you
• 0:42
  back?
• 0:43
  Visit
• 0:43
  Miracle.com
• 0:44
  to
• 0:44
  learn
• 0:45
  more.
• 0:45
  That's
• 0:45
  M
• 0:45
  I
• 0:46
  R
• 0:46
  A
• 0:46
  K
• 0:46
  L.com
• 0:48
  and
• 0:48
  Corso.
• 0:49
  Your
• 0:49
  stores
• 0:50
  are
• 0:50
  full
• 0:50
  of
• 0:51
  data,
• 0:51
  but
• 0:51
  are
• 0:52
  your
• 0:52
  teams
• 0:52
  acting
• 0:53
  on
• 0:53
  it?
• 0:54
  Corso
• 0:54
  turns
• 0:55
  retail
• 0:55
  data
• 0:55
  into
• 0:56
  personalized
• 0:56
  daily
• 0:57
  to
• 0:57
  dos
• 0:57
  that
• 0:57
  drive
• 0:58
  sales,
• 0:58
  reduce
• 0:59
  waste
• 0:59
  and
• 0:59
  improve
• 1:00
  execution.
• 1:01
  No
• 1:01
  fluff,
• 1:02
  just
• 1:03
  action.
• 1:03
  Help
• 1:04
  your
• 1:04
  managers
• 1:04
  focus
• 1:05
  on
• 1:05
  what
• 1:05
  matters
• 1:06
  most.
• 1:06
  Visit
• 1:06
  corso.com
• 1:08
  to
• 1:08
  see
• 1:08
  Intelligent
• 1:09
  management
• 1:09
  in
• 1:10
  motion
• 1:10
  and
• 1:10
  Infios.
• 1:12
  At
• 1:12
  Infios,
• 1:13
  they
• 1:13
  unite
• 1:13
  warehousing,
• 1:13
  transportation
• 1:14
  and
• 1:14
  order
• 1:15
  management
• 1:15
  into
• 1:15
  a
• 1:15
  seamless,
• 1:16
  adaptable
• 1:16
  network.
• 1:17
  Infios
• 1:18
  helps
• 1:18
  you
• 1:18
  stay
• 1:18
  ahead
• 1:19
  from
• 1:19
  promise
• 1:19
  to
• 1:20
  delivery
• 1:20
  and
• 1:21
  every
• 1:21
  step
• 1:21
  in
• 1:22
  between.
• 1:22
  To
• 1:22
  learn
• 1:22
  more,
• 1:23
  visit
• 1:23
  infios.com
• 1:25
  and
• 1:25
  finally,
• 1:26
  Ocampo
• 1:26
  Capital.
• 1:27
  Ocampo
• 1:28
  Capital
• 1:28
  is
• 1:28
  a
• 1:28
  venture
• 1:29
  capital
• 1:29
  firm
• 1:29
  founded
• 1:30
  by
• 1:30
  retail
• 1:30
  executives
• 1:31
  with
• 1:31
  the
• 1:32
  aim
• 1:32
  of
• 1:32
  helping
• 1:32
  early
• 1:33
  stage
• 1:33
  consumer
• 1:34
  businesses
• 1:34
  succeed
• 1:35
  through
• 1:35
  investment
• 1:36
  and
• 1:36
  operational
• 1:36
  support.
• 1:37
  Learn
• 1:38
  more@ocampo
• 1:39
  capital.com
• 1:41
  hello,
• 1:42
  you
• 1:42
  are
• 1:42
  listening
• 1:42
  to
• 1:42
  Omnitox.
• 1:43
  Retail
• 1:44
  Fast
• 1:44
  Five
• 1:44
  ranked
• 1:45
  in
• 1:45
  the
• 1:45
  top
• 1:45
  10%
• 1:45
  of
• 1:46
  all
• 1:46
  podcasts
• 1:46
  globally
• 1:47
  and
• 1:47
  currently
• 1:47
  the
• 1:48
  only
• 1:48
  retail
• 1:48
  podcast
• 1:49
  ranked
• 1:49
  in
• 1:49
  the
• 1:49
  top
• 1:49
  100
• 1:50
  of
• 1:50
  all
• 1:50
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• 1:50
  podcasts
• 1:51
  on
• 1:51
  Apple
• 1:51
  Podcasts.
• 1:52
  The
• 1:52
  Retail
• 1:52
  Fast
• 1:53
  five
• 1:53
  is
• 1:53
  the
• 1:53
  podcast
• 1:53
  that
• 1:54
  we
• 1:54
  hope
• 1:54
  makes
• 1:54
  you
• 1:54
  feel
• 1:55
  a
• 1:55
  little
• 1:55
  smarter,
• 1:56
  but
• 1:56
  most
• 1:56
  importantly,
• 1:57
  a
• 1:57
  little
• 1:57
  happier
• 1:58
  each
• 1:58
  week
• 1:58
  too.
• 1:59
  And
• 1:59
  the
• 1:59
  Fast
• 2:00
  5
• 2:00
  is
• 2:00
  just
• 2:00
  one
• 2:00
  of
• 2:00
  the
• 2:00
  many
• 2:01
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• 2:01
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• 2:01
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• 2:01
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• 2:02
  can
• 2:02
  find
• 2:02
  from
• 2:02
  the
• 2:02
  omnichotalk
• 2:03
  Retail
• 2:03
  Podcast
• 2:04
  Network
• 2:04
  alongside
• 2:05
  our
• 2:05
  Retail
• 2:05
  Daily
• 2:06
  Minute,
• 2:06
  which
• 2:06
  brings
• 2:07
  you
• 2:07
  a
• 2:07
  key
• 2:07
  curated
• 2:08
  selection
• 2:08
  of
• 2:08
  the
• 2:08
  most
• 2:08
  important
• 2:09
  retail
• 2:09
  headlines
• 2:10
  every
• 2:10
  morning
• 2:11
  and
• 2:11
  our
• 2:11
  Retail
• 2:11
  Technology
• 2:12
  Spotlight
• 2:12
  series
• 2:13
  which
• 2:13
  goes
• 2:13
  deep
• 2:13
  each
• 2:14
  week
• 2:14
  on
• 2:14
  the
• 2:14
  latest
• 2:15
  retail
• 2:15
  technology
• 2:15
  trends.
• 2:16
  It's
• 2:17
  August
• 2:17
  20,
• 2:18
  2025.
• 2:18
  I'm
• 2:19
  one
• 2:19
  of
• 2:19
  your
• 2:19
  hosts,
• 2:19
  Ann
• 2:19
  Mazinga.
• 2:21
  And
• 2:21
  I'm
• 2:21
  Chris
• 2:21
  Walton
• 2:22
  and
• 2:22
  we
• 2:23
  are.
• 2:23
  Here
• 2:23
  once
• 2:23
  again
• 2:24
  to
• 2:24
  discuss
• 2:24
  all
• 2:24
  the
• 2:25
  top
• 2:25
  headlines
• 2:25
  from
• 2:26
  the
• 2:26
  past
• 2:26
  two
• 2:26
  weeks
• 2:27
  making
• 2:27
  waves
• 2:28
  in
• 2:28
  the
• 2:28
  world
• 2:28
  of
• 2:28
  omnichannel
• 2:29
  retailing.
• 2:30
  We
• 2:30
  are
• 2:31
  finally
• 2:31
  back
• 2:31
  from
• 2:32
  vacation
• 2:32
  and
• 2:33
  boy
• 2:33
  oh
• 2:33
  boy,
• 2:34
  it
• 2:34
  has
• 2:34
  not
• 2:34
  been
• 2:35
  a
• 2:35
  quiet
• 2:35
  couple
• 2:36
  of
• 2:36
  weeks
• 2:36
  in
• 2:36
  retail
• 2:37
  news
• 2:37
  and
• 2:37
  we're
• 2:38
  Have
• 2:38
  a
• 2:38
  ton
• 2:39
  to
• 2:39
  cover.
• 2:39
  So
• 2:40
  before
• 2:41
  we
• 2:41
  get
• 2:41
  to
• 2:41
  that,
• 2:42
  it
• 2:42
  is
• 2:42
  our
• 2:42
  first
• 2:43
  show
• 2:43
  of
• 2:43
  August
• 2:43
  because
• 2:44
  we're
• 2:44
  back
• 2:44
  from
• 2:44
  vacation.
• 2:44
  Oh,
• 2:45
  yeah.
• 2:45
  Yes.
• 2:46
  Which
• 2:46
  means
• 2:46
  we
• 2:47
  need
• 2:47
  to
• 2:47
  call
• 2:47
  out
• 2:47
  Chris,
• 2:48
  this
• 2:48
  month's
• 2:49
  Omni
• 2:49
  Star.
• 2:51
  That's
• 2:51
  right.
• 2:51
  And
• 2:51
  yes.
• 2:52
  And
• 2:52
  yes,
• 2:52
  quite
• 2:52
  a
• 2:52
  bit's
• 2:53
  happened.
• 2:53
  And
• 2:53
  why
• 2:54
  does
• 2:54
  Target
• 2:54
  always
• 2:54
  make
• 2:55
  announcements
• 2:55
  like
• 2:56
  20
• 2:56
  minutes?
• 2:58
  Yeah,
• 2:58
  why
• 2:59
  is
• 2:59
  that?
• 2:59
  Why
• 2:59
  is
• 2:59
  that?
• 2:59
  I
• 3:00
  don't
• 3:00
  know.
• 3:00
  I
• 3:00
  think
• 3:00
  it.
• 3:01
  I
• 3:01
  don't
• 3:01
  know.
• 3:01
  It
• 3:01
  could
• 3:01
  be
• 3:01
  coincidental.
• 3:02
  I
• 3:02
  think
• 3:02
  it
• 3:03
  probably
• 3:03
  is.
• 3:03
  But
• 3:03
  anyway,
• 3:04
  yes,
• 3:04
  it's
• 3:04
  our
• 3:04
  first
• 3:04
  show
• 3:05
  of
• 3:05
  August,
• 3:05
  which
• 3:05
  means
• 3:05
  we
• 3:06
  need
• 3:06
  to
• 3:06
  call
• 3:06
  out
• 3:06
  this
• 3:06
  month's
• 3:07
  Omni
• 3:07
  Star
• 3:08
  for
• 3:08
  those
• 3:08
  new
• 3:08
  to
• 3:09
  the
• 3:09
  podcast.
• 3:09
  Our
• 3:10
  Omnistar
• 3:10
  Award
• 3:10
  is
• 3:11
  the
• 3:11
  award
• 3:11
  we
• 3:11
  give
• 3:11
  out
• 3:11
  each
• 3:11
  month
• 3:12
  in
• 3:12
  partnership
• 3:13
  with
• 3:13
  Corso
• 3:13
  to
• 3:13
  recognize
• 3:14
  the
• 3:14
  top
• 3:14
  omnichannel
• 3:15
  operators
• 3:15
  out
• 3:16
  there.
• 3:16
  Not
• 3:16
  the
• 3:16
  pundits,
• 3:17
  not
• 3:17
  the
• 3:18
  so
• 3:18
  called
• 3:18
  experts,
• 3:19
  but
• 3:19
  the
• 3:19
  real
• 3:19
  life
• 3:20
  retail
• 3:20
  operators
• 3:21
  making
• 3:21
  a
• 3:21
  difference
• 3:22
  in
• 3:22
  their
• 3:22
  organizations.
• 3:23
  Corso's
• 3:24
  AI
• 3:24
  copilot
• 3:25
  coaches
• 3:25
  retail
• 3:26
  leaders
• 3:26
  to
• 3:26
  optimize
• 3:26
  store
• 3:27
  performance
• 3:27
  at
• 3:27
  every
• 3:28
  level.
• 3:28
  It'll
• 3:28
  help
• 3:29
  you
• 3:29
  transform
• 3:29
  retail
• 3:30
  operations
• 3:30
  from
• 3:30
  data
• 3:31
  overload
• 3:31
  into
• 3:32
  data
• 3:32
  powered.
• 3:33
  And
• 3:33
  this
• 3:33
  month,
• 3:34
  we
• 3:34
  are
• 3:34
  excited
• 3:34
  to
• 3:35
  give
• 3:35
  this
• 3:35
  month's
• 3:35
  award
• 3:36
  to
• 3:36
  Scott
• 3:36
  Cassiado,
• 3:37
  the
• 3:37
  VP
• 3:38
  of
• 3:38
  global
• 3:38
  logistics
• 3:39
  and
• 3:39
  Omnichannel
• 3:39
  fulfillment
• 3:40
  at
• 3:40
  Dick's
• 3:41
  Sporting
• 3:41
  Goods.
• 3:42
  Dick.
• 3:43
  Sorry,
• 3:43
  Scott,
• 3:44
  not
• 3:44
  Dick,
• 3:45
  but
• 3:45
  Scott
• 3:45
  has
• 3:46
  been
• 3:46
  a
• 3:46
  longtime
• 3:47
  friend
• 3:47
  of
• 3:47
  the
• 3:47
  show.
• 3:47
  And
• 3:48
  Anne,
• 3:48
  why
• 3:48
  is
• 3:48
  Scott
• 3:49
  so
• 3:49
  deserving
• 3:50
  of
• 3:50
  this
• 3:50
  award,
• 3:50
  in
• 3:50
  your
• 3:51
  opinion?
• 3:52
  Well,
• 3:52
  you
• 3:52
  know
• 3:52
  what,
• 3:52
  Chris?
• 3:53
  Scott
• 3:53
  is
• 3:54
  a
• 3:54
  longtime
• 3:54
  listener
• 3:55
  and
• 3:55
  friend
• 3:55
  of
• 3:55
  the
• 3:55
  show.
• 3:56
  But
• 3:57
  what
• 3:57
  I
• 3:58
  always
• 3:58
  loved
• 3:58
  about
• 3:59
  him
• 3:59
  from
• 3:59
  the
• 3:59
  very
• 4:00
  start
• 4:00
  was
• 4:00
  that
• 4:01
  he
• 4:01
  has
• 4:02
  stayed
• 4:02
  in
• 4:02
  contact
• 4:02
  with
• 4:03
  us
• 4:03
  and
• 4:03
  he
• 4:04
  has
• 4:04
  use
• 4:05
  the
• 4:05
  show
• 4:06
  and
• 4:06
  has
• 4:07
  really
• 4:07
  helped
• 4:07
  us
• 4:08
  bring
• 4:08
  together
• 4:09
  groups
• 4:09
  of
• 4:10
  retailers
• 4:10
  to
• 4:11
  ask
• 4:11
  questions.
• 4:12
  He
• 4:12
  stays
• 4:13
  curious.
• 4:13
  He
• 4:13
  doesn't
• 4:14
  expect
• 4:14
  that.
• 4:15
  He
• 4:15
  knows
• 4:15
  all
• 4:15
  the
• 4:16
  answers.
• 4:16
  And
• 4:16
  so
• 4:16
  I
• 4:16
  think
• 4:17
  one
• 4:17
  of
• 4:17
  the
• 4:17
  things
• 4:18
  that
• 4:18
  I
• 4:18
  really
• 4:19
  admire
• 4:19
  about
• 4:20
  him
• 4:20
  and
• 4:20
  his
• 4:21
  leadership
• 4:21
  on
• 4:21
  the
• 4:21
  team,
• 4:22
  what
• 4:22
  I
• 4:22
  think
• 4:22
  we
• 4:22
  can
• 4:22
  all
• 4:22
  learn
• 4:23
  in
• 4:23
  the
• 4:23
  retail
• 4:23
  industry
• 4:24
  is
• 4:24
  how
• 4:24
  to
• 4:25
  ask
• 4:25
  questions,
• 4:26
  to
• 4:26
  challenge
• 4:27
  assumptions
• 4:27
  and
• 4:28
  to
• 4:28
  reach
• 4:28
  out
• 4:29
  to
• 4:29
  your
• 4:29
  industry
• 4:30
  peers
• 4:30
  to
• 4:30
  really
• 4:30
  try
• 4:31
  to
• 4:31
  understand
• 4:31
  how
• 4:32
  we
• 4:32
  all
• 4:32
  do
• 4:32
  this
• 4:33
  better.
• 4:33
  And
• 4:33
  so,
• 4:34
  Scott,
• 4:35
  it
• 4:35
  is
• 4:35
  with
• 4:35
  great
• 4:36
  pleasure
• 4:36
  that
• 4:36
  we
• 4:37
  offer
• 4:37
  you
• 4:38
  this
• 4:38
  month's
• 4:39
  Omnistar.
• 4:39
  That
• 4:39
  we
• 4:40
  award
• 4:40
  you.
• 4:40
  Not
• 4:40
  offer
• 4:40
  you.
• 4:41
  Yeah,
• 4:41
  we
• 4:41
  award
• 4:41
  you.
• 4:41
  Offer
• 4:42
  you.
• 4:42
  Take
• 4:42
  it.
• 4:42
  Maybe
• 4:42
  you
• 4:42
  will.
• 4:43
  Maybe
• 4:43
  he'll
• 4:44
  be
• 4:44
  like,
• 4:44
  yeah,
• 4:44
  you
• 4:45
  can
• 4:45
  keep
• 4:45
  your
• 4:45
  award,
• 4:45
  Ed.
• 4:46
  Keep
• 4:46
  your
• 4:46
  order.
• 4:47
  Shove
• 4:47
  it.
• 4:47
  You
• 4:48
  can
• 4:48
  turn
• 4:48
  it
• 4:48
  down,
• 4:49
  Scott,
• 4:49
  but
• 4:50
  this
• 4:50
  is
• 4:50
  why
• 4:50
  we
• 4:51
  are
• 4:51
  giving
• 4:52
  you
• 4:52
  this
• 4:52
  Omnistar
• 4:53
  Award
• 4:54
  in
• 4:54
  partnership
• 4:54
  with
• 4:54
  Corso.
• 4:55
  Yes,
• 4:55
  well,
• 4:56
  I
• 4:56
  couldn't
• 4:56
  agree
• 4:56
  more.
• 4:56
  Yeah,
• 4:57
  Scott,
• 4:57
  do
• 4:57
  I
• 4:57
  add
• 4:57
  something
• 4:57
  up
• 4:57
  what
• 4:57
  you
• 4:58
  said?
• 4:58
  Scott's
• 4:58
  just
• 4:58
  a
• 4:58
  good
• 4:58
  dude.
• 4:59
  He's
• 4:59
  a
• 4:59
  good
• 4:59
  dude
• 4:59
  that
• 4:59
  gets
• 5:00
  omnichannel
• 5:00
  retailing
• 5:00
  and
• 5:01
  what
• 5:01
  it's
• 5:01
  all
• 5:01
  about.
• 5:01
  And
• 5:01
  I
• 5:01
  love
• 5:01
  that
• 5:01
  Omnichannel
• 5:02
  is
• 5:02
  in
• 5:02
  his
• 5:02
  title
• 5:03
  too,
• 5:03
  as
• 5:03
  a,
• 5:04
  as
• 5:04
  a
• 5:04
  side
• 5:04
  note.
• 5:04
  But
• 5:04
  yeah,
• 5:05
  congrats,
• 5:05
  Scott,
• 5:05
  for
• 5:05
  being
• 5:06
  named
• 5:06
  this
• 5:06
  month's
• 5:06
  OMN
• 5:07
  Star.
• 5:07
  All
• 5:08
  right,
• 5:08
  in
• 5:08
  this
• 5:08
  week's
• 5:08
  Fast
• 5:09
  5,
• 5:09
  we've
• 5:09
  got
• 5:10
  two
• 5:10
  weeks
• 5:10
  of
• 5:10
  news
• 5:11
  to
• 5:11
  get
• 5:11
  caught
• 5:11
  up
• 5:11
  on
• 5:12
  and
• 5:12
  we'll
• 5:12
  probably
• 5:12
  catch
• 5:12
  the
• 5:13
  Target
• 5:13
  announcement
• 5:13
  next
• 5:14
  week
• 5:14
  for
• 5:14
  those
• 5:14
  anxious
• 5:15
  to
• 5:15
  hear
• 5:15
  our
• 5:15
  thoughts
• 5:15
  on
• 5:15
  that
• 5:16
  might
• 5:16
  talk
• 5:16
  about
• 5:16
  it
• 5:17
  a
• 5:17
  little
• 5:17
  bit
• 5:17
  towards
• 5:17
  the
• 5:17
  end
• 5:18
  of
• 5:18
  the
• 5:18
  show
• 5:18
  as
• 5:18
  well.
• 5:19
  But
• 5:19
  we've
• 5:19
  got
• 5:19
  news
• 5:19
  on
• 5:20
  Starbucks
• 5:20
  abandoning
• 5:21
  its
• 5:21
  mobile
• 5:21
  order
• 5:22
  pickup
• 5:22
  only
• 5:22
  stores.
• 5:23
  Warby
• 5:24
  Parker
• 5:24
  ending
• 5:24
  its
• 5:25
  home
• 5:25
  try
• 5:25
  on
• 5:26
  program,
• 5:26
  Ikea
• 5:27
  opening
• 5:28
  shopping
• 5:28
  shops
• 5:28
  inside
• 5:29
  of
• 5:29
  Best
• 5:29
  Buys,
• 5:30
  the
• 5:31
  sad
• 5:31
  end
• 5:31
  of
• 5:32
  Target
• 5:32
  and
• 5:32
  Ulta's
• 5:33
  beauty
• 5:33
  partnership.
• 5:34
  And
• 5:34
  Ben
• 5:35
  Miller
• 5:35
  also
• 5:35
  stops
• 5:36
  by
• 5:36
  for
• 5:36
  five
• 5:37
  insightful
• 5:37
  minutes
• 5:37
  on
• 5:38
  what
• 5:38
  to
• 5:38
  expect
• 5:39
  at
• 5:39
  this
• 5:39
  year's
• 5:40
  Shop
• 5:40
  Talk,
• 5:40
  Fall
• 5:41
  and
• 5:41
  Grocery
• 5:41
  shop
• 5:42
  conferences.
• 5:42
  But
• 5:43
  we
• 5:43
  begin
• 5:43
  today
• 5:43
  with
• 5:44
  big
• 5:44
  fresh
• 5:45
  news
• 5:45
  out
• 5:45
  of
• 5:46
  Amazon.
• 5:46
  Ann
• 5:47
  that's
• 5:47
  right,
• 5:48
  headline
• 5:48
  number
• 5:48
  one.
• 5:49
  While
• 5:49
  we
• 5:49
  were
• 5:49
  on
• 5:50
  vacation,
• 5:50
  Chris,
• 5:50
  Amazon
• 5:51
  added
• 5:51
  perishable
• 5:52
  foods
• 5:52
  to
• 5:53
  its
• 5:53
  same
• 5:53
  day
• 5:53
  delivery
• 5:54
  offering.
• 5:54
  According
• 5:55
  to
• 5:55
  Reuters,
• 5:56
  subscribers
• 5:56
  to
• 5:56
  Amazon.com's
• 5:57
  new
• 5:57
  Prime
• 5:58
  service
• 5:58
  can
• 5:59
  now
• 5:59
  get
• 5:59
  strawberries,
• 5:59
  milk,
• 6:00
  meats
• 6:00
  and
• 6:00
  and
• 6:01
  frozen
• 6:01
  dinners
• 6:01
  on
• 6:01
  the
• 6:02
  same
• 6:02
  day
• 6:02
  that
• 6:02
  they
• 6:03
  order
• 6:03
  them.
• 6:03
  The
• 6:03
  new
• 6:04
  same
• 6:04
  day
• 6:04
  delivery
• 6:04
  service
• 6:05
  is
• 6:05
  free
• 6:05
  for
• 6:05
  prime
• 6:06
  members
• 6:06
  who
• 6:07
  pay
• 6:07
  14.99amonth
• 6:09
  or
• 6:09
  $139
• 6:11
  annually
• 6:11
  for
• 6:12
  orders
• 6:12
  over
• 6:13
  $25.
• 6:13
  Shoppers
• 6:14
  without
• 6:14
  a
• 6:14
  Prime
• 6:15
  membership
• 6:15
  can
• 6:16
  pay
• 6:16
  a
• 6:16
  1299
• 6:17
  fee
• 6:18
  regardless
• 6:18
  of
• 6:19
  order
• 6:19
  size
• 6:19
  to
• 6:20
  use
• 6:20
  the
• 6:20
  new
• 6:20
  service.
• 6:21
  And
• 6:21
  as
• 6:21
  of
• 6:21
  last
• 6:22
  Wednesday,
• 6:22
  Amazon
• 6:22
  shoppers
• 6:23
  In
• 6:23
  more
• 6:23
  than
• 6:23
  1,000
• 6:24
  US
• 6:24
  cities
• 6:25
  were
• 6:25
  able
• 6:25
  to
• 6:26
  obtain
• 6:26
  same
• 6:26
  day
• 6:26
  delivery
• 6:27
  of
• 6:27
  parish
• 6:28
  perishable
• 6:28
  food
• 6:28
  items.
• 6:29
  And
• 6:29
  the
• 6:29
  company
• 6:29
  plans
• 6:30
  to
• 6:30
  expand
• 6:30
  the
• 6:31
  service
• 6:31
  to
• 6:31
  2300
• 6:32
  cities
• 6:33
  by
• 6:33
  the
• 6:33
  end
• 6:33
  of
• 6:33
  the
• 6:33
  year.
• 6:34
  Chris
• 6:34
  do
• 6:34
  you
• 6:35
  see
• 6:35
  Amazon
• 6:36
  Fresh
• 6:36
  same
• 6:36
  day
• 6:36
  delivery
• 6:37
  as
• 6:37
  a
• 6:37
  sizable
• 6:38
  direct
• 6:38
  threat
• 6:39
  to
• 6:39
  Walmart
• 6:39
  and
• 6:40
  Instacart?
• 6:42
  Wow.
• 6:42
  You
• 6:42
  know,
• 6:42
  and
• 6:42
  I,
• 6:43
  I'm
• 6:43
  going
• 6:43
  to
• 6:44
  take
• 6:44
  a
• 6:44
  little
• 6:44
  bit
• 6:44
  of
• 6:44
  a
• 6:44
  potentially
• 6:45
  surprising
• 6:46
  opinion
• 6:46
  on
• 6:46
  this
• 6:46
  one
• 6:46
  and
• 6:47
  I'm
• 6:47
  curious
• 6:47
  what
• 6:47
  you
• 6:47
  see,
• 6:48
  what
• 6:48
  you
• 6:48
  think
• 6:48
  too,
• 6:48
  because
• 6:48
  we
• 6:49
  haven't
• 6:49
  talked
• 6:49
  about
• 6:49
  this
• 6:49
  in
• 6:50
  advance.
• 6:50
  I
• 6:51
  don't
• 6:51
  really
• 6:51
  see
• 6:51
  it
• 6:51
  as
• 6:52
  a
• 6:52
  threat
• 6:52
  to
• 6:52
  either
• 6:52
  one.
• 6:52
  I
• 6:53
  don't
• 6:53
  really
• 6:53
  see
• 6:53
  it
• 6:53
  as
• 6:53
  a
• 6:53
  big
• 6:53
  threat
• 6:54
  to
• 6:54
  either
• 6:54
  one.
• 6:55
  And
• 6:55
  I
• 6:55
  say
• 6:55
  that
• 6:56
  for
• 6:56
  a
• 6:56
  couple
• 6:56
  of
• 6:56
  reasons.
• 6:56
  First,
• 6:57
  and
• 6:57
  I
• 6:57
  would
• 6:58
  give
• 6:58
  credit
• 6:58
  to
• 6:58
  my
• 6:59
  buddy
• 6:59
  Tom
• 6:59
  Furphy
• 6:59
  of
• 7:00
  Replenium,
• 7:01
  because
• 7:01
  he
• 7:01
  pointed
• 7:01
  out
• 7:01
  this
• 7:02
  week
• 7:02
  in
• 7:02
  an
• 7:02
  article
• 7:02
  for
• 7:03
  Grocery
• 7:03
  Dive,
• 7:03
  he
• 7:04
  asked
• 7:04
  the
• 7:04
  question
• 7:04
  do
• 7:05
  consumers
• 7:05
  really
• 7:05
  want
• 7:05
  to
• 7:06
  combine
• 7:06
  their
• 7:06
  fresh
• 7:06
  orders
• 7:07
  with
• 7:07
  everything
• 7:07
  else
• 7:07
  they're
• 7:08
  getting
• 7:08
  from
• 7:08
  Amazon?
• 7:09
  You
• 7:09
  know,
• 7:10
  and
• 7:10
  I
• 7:10
  Think
• 7:10
  he's
• 7:10
  right.
• 7:11
  I
• 7:11
  got
• 7:11
  to
• 7:11
  give
• 7:11
  him
• 7:12
  credit
• 7:12
  for
• 7:12
  that.
• 7:12
  I
• 7:12
  think
• 7:12
  the
• 7:12
  jury
• 7:13
  is
• 7:13
  still
• 7:13
  out
• 7:13
  on
• 7:13
  that.
• 7:14
  We
• 7:14
  actually
• 7:14
  don't
• 7:14
  know.
• 7:15
  And
• 7:16
  second
• 7:16
  of
• 7:17
  all,
• 7:17
  Walmart
• 7:18
  plus
• 7:18
  is
• 7:19
  still
• 7:19
  a
• 7:19
  much
• 7:19
  better
• 7:20
  value
• 7:20
  at
• 7:20
  $98
• 7:21
  per
• 7:21
  year
• 7:21
  as
• 7:22
  I'm
• 7:22
  sure
• 7:22
  you'll
• 7:22
  attest
• 7:23
  to
• 7:23
  being
• 7:23
  the
• 7:23
  biggest
• 7:23
  Walmart
• 7:24
  plus
• 7:24
  super
• 7:24
  fan
• 7:25
  out
• 7:25
  there.
• 7:25
  And,
• 7:26
  and
• 7:26
  the
• 7:26
  other
• 7:26
  point
• 7:26
  is
• 7:26
  Walmart
• 7:27
  also
• 7:27
  still
• 7:28
  has
• 7:28
  a
• 7:28
  long
• 7:28
  standing
• 7:29
  reputation
• 7:29
  as
• 7:30
  an
• 7:30
  actual
• 7:30
  grocer.
• 7:31
  So
• 7:32
  I
• 7:32
  don't
• 7:32
  see
• 7:32
  conversion
• 7:33
  happening,
• 7:33
  you
• 7:34
  know,
• 7:34
  from
• 7:34
  Walmart
• 7:35
  either.
• 7:35
  So
• 7:36
  now,
• 7:36
  so
• 7:36
  then,
• 7:36
  so
• 7:37
  then
• 7:37
  that
• 7:37
  leaves
• 7:37
  the
• 7:37
  Instacart
• 7:38
  and
• 7:38
  the
• 7:38
  Doordash,
• 7:38
  you
• 7:39
  know,
• 7:39
  that
• 7:39
  whole
• 7:39
  lot.
• 7:39
  And
• 7:40
  so
• 7:40
  the
• 7:40
  difference
• 7:41
  between,
• 7:41
  there's
• 7:42
  a
• 7:42
  difference
• 7:42
  here
• 7:42
  though
• 7:42
  because
• 7:43
  the
• 7:43
  difference
• 7:43
  between
• 7:44
  the
• 7:44
  Instacart
• 7:44
  and
• 7:44
  the
• 7:45
  doordash
• 7:45
  marketplaces
• 7:46
  and
• 7:46
  Amazon
• 7:47
  is
• 7:47
  that
• 7:47
  they're
• 7:47
  connected
• 7:48
  to
• 7:48
  the
• 7:48
  actual
• 7:48
  grocers
• 7:49
  from
• 7:49
  which
• 7:50
  consumers
• 7:50
  actually
• 7:51
  want
• 7:51
  to
• 7:51
  shop
• 7:52
  and
• 7:52
  that
• 7:52
  already
• 7:52
  trust
• 7:53
  Amazon
• 7:54
  is
• 7:54
  just,
• 7:54
  it's
• 7:55
  just
• 7:55
  Amazon
• 7:56
  Grocery
• 7:56
  doesn't
• 7:56
  mean
• 7:57
  anything.
• 7:57
  It
• 7:57
  has
• 7:57
  no
• 7:57
  connotation
• 7:58
  for
• 7:58
  freshness,
• 7:59
  which
• 7:59
  is
• 7:59
  a
• 7:59
  big
• 8:00
  hurdle
• 8:00
  to
• 8:00
  get
• 8:00
  over,
• 8:01
  you
• 8:01
  know,
• 8:02
  to
• 8:02
  make
• 8:02
  this
• 8:02
  happen.
• 8:03
  So
• 8:03
  Amazon
• 8:04
  still
• 8:04
  has
• 8:04
  to
• 8:04
  build
• 8:04
  a
• 8:04
  reputation
• 8:05
  in
• 8:05
  groceries.
• 8:05
  So
• 8:06
  will
• 8:06
  it
• 8:06
  provide
• 8:07
  incremental
• 8:07
  business?
• 8:08
  Yeah,
• 8:08
  but
• 8:09
  I
• 8:09
  think
• 8:09
  it's
• 8:09
  more
• 8:09
  of
• 8:09
  a
• 8:09
  threat
• 8:10
  to
• 8:10
  like
• 8:10
  the
• 8:10
  Gopuff
• 8:11
  players
• 8:11
  of
• 8:11
  the
• 8:11
  world
• 8:12
  than
• 8:12
  it
• 8:12
  is
• 8:12
  to
• 8:12
  like
• 8:13
  DoorDash
• 8:13
  Instacart
• 8:14
  and
• 8:14
  Walmart.
• 8:15
  I
• 8:15
  just
• 8:16
  think
• 8:16
  there's
• 8:16
  more
• 8:16
  competitive
• 8:17
  moats
• 8:17
  at
• 8:17
  play
• 8:17
  here
• 8:18
  than
• 8:18
  people
• 8:18
  are
• 8:19
  probably
• 8:19
  thinking
• 8:19
  about.
• 8:20
  Like
• 8:20
  the
• 8:20
  other
• 8:20
  point
• 8:20
  I
• 8:20
  make,
• 8:21
  Dan
• 8:21
  Borger
• 8:22
  Borgo
• 8:23
  said
• 8:23
  this
• 8:23
  on
• 8:23
  LinkedIn,
• 8:24
  he's
• 8:24
  like
• 8:24
  those
• 8:25
  trucks
• 8:25
  you
• 8:25
  see
• 8:25
  that
• 8:25
  Amazon's
• 8:26
  out
• 8:26
  delivering
• 8:26
  with,
• 8:27
  they're
• 8:27
  not
• 8:27
  going
• 8:27
  to
• 8:28
  be
• 8:28
  able
• 8:28
  to
• 8:28
  deliver
• 8:28
  frozen
• 8:29
  food.
• 8:29
  They're
• 8:29
  not
• 8:29
  equipped
• 8:30
  for
• 8:30
  that.
• 8:30
  So
• 8:30
  like
• 8:30
  this
• 8:31
  is
• 8:31
  a
• 8:31
  whole
• 8:31
  different
• 8:32
  set
• 8:32
  of
• 8:32
  infrastructure
• 8:33
  too
• 8:33
  that
• 8:33
  Amazon
• 8:34
  may
• 8:34
  or
• 8:34
  may
• 8:34
  not
• 8:34
  have
• 8:34
  the
• 8:34
  muscle
• 8:35
  to
• 8:35
  pull
• 8:35
  off.
• 8:35
  So
• 8:36
  I
• 8:36
  don't,
• 8:36
  I
• 8:37
  don't
• 8:37
  know.
• 8:37
  That's
• 8:38
  my
• 8:38
  take
• 8:38
  though.
• 8:38
  And
• 8:38
  what
• 8:39
  do
• 8:39
  you
• 8:39
  think
• 8:39
  though?
• 8:39
  Do
• 8:39
  you
• 8:39
  agree
• 8:39
  with
• 8:40
  me
• 8:40
  or
• 8:40
  disagree?
• 8:40
  Do
• 8:40
  you
• 8:41
  think
• 8:41
  it's,
• 8:41
  I'm
• 8:41
  guessing,
• 8:42
  kind
• 8:42
  of
• 8:42
  disagreeing
• 8:43
  with
• 8:43
  me
• 8:43
  based
• 8:43
  on
• 8:43
  the
• 8:44
  looks
• 8:44
  you're
• 8:44
  giving
• 8:44
  me
• 8:45
  on
• 8:45
  the
• 8:45
  video.
• 8:45
  I
• 8:45
  think
• 8:45
  the,
• 8:46
  it's,
• 8:46
  you
• 8:46
  know,
• 8:47
  I
• 8:47
  think
• 8:47
  it
• 8:47
  could
• 8:47
  be
• 8:47
  making
• 8:48
  a
• 8:48
  dent
• 8:48
  in
• 8:48
  the
• 8:48
  short
• 8:49
  term,
• 8:49
  especially
• 8:49
  based
• 8:50
  on
• 8:50
  the
• 8:50
  data
• 8:50
  that
• 8:50
  you
• 8:50
  shared
• 8:51
  in
• 8:51
  the
• 8:51
  Retail
• 8:51
  Daily
• 8:52
  Minute
• 8:52
  from
• 8:52
  Jordan
• 8:52
  Burke's
• 8:53
  Tomorrow
• 8:53
  Group.
• 8:54
  You
• 8:54
  know,
• 8:54
  is
• 8:54
  it
• 8:55
  as
• 8:55
  it
• 8:55
  having
• 8:55
  some
• 8:55
  impact
• 8:56
  in
• 8:56
  these
• 8:56
  thousand
• 8:57
  cities
• 8:57
  that
• 8:57
  it's
• 8:57
  in
• 8:58
  right
• 8:58
  now?
• 8:58
  But
• 8:59
  I
• 8:59
  think
• 8:59
  that
• 8:59
  there's
• 9:00
  two
• 9:00
  reasons
• 9:01
  that
• 9:01
  this
• 9:01
  to
• 9:01
  me
• 9:01
  is
• 9:02
  not
• 9:02
  a
• 9:02
  long
• 9:02
  term
• 9:03
  threat.
• 9:03
  First,
• 9:04
  as
• 9:04
  you
• 9:04
  mentioned,
• 9:04
  you
• 9:05
  still
• 9:05
  have
• 9:05
  quality
• 9:05
  and
• 9:06
  the
• 9:06
  reliability
• 9:06
  hurdle
• 9:07
  to
• 9:07
  get
• 9:07
  over
• 9:08
  from
• 9:08
  grocery
• 9:09
  from
• 9:09
  Amazon.
• 9:10
  And
• 9:10
  while
• 9:10
  I
• 9:10
  think
• 9:11
  this
• 9:11
  free
• 9:11
  delivery
• 9:12
  for
• 9:12
  prime
• 9:12
  members
• 9:13
  might
• 9:13
  be
• 9:13
  a
• 9:13
  way
• 9:13
  to
• 9:14
  like
• 9:14
  start
• 9:14
  to
• 9:14
  get
• 9:15
  some
• 9:15
  early
• 9:15
  orders
• 9:16
  or
• 9:16
  to
• 9:16
  get
• 9:16
  people
• 9:17
  to
• 9:17
  expand,
• 9:17
  experiment
• 9:18
  again
• 9:18
  or
• 9:18
  to
• 9:19
  revisit
• 9:19
  getting
• 9:20
  grocery
• 9:20
  delivery
• 9:21
  with
• 9:21
  their
• 9:21
  other
• 9:22
  items
• 9:22
  on
• 9:22
  Amazon.com
• 9:24
  I
• 9:24
  still
• 9:24
  don't
• 9:24
  know
• 9:25
  that
• 9:25
  when
• 9:25
  they
• 9:25
  get
• 9:25
  those
• 9:26
  items
• 9:26
  it's
• 9:27
  going
• 9:27
  to
• 9:27
  pay
• 9:28
  it
• 9:28
  off.
• 9:28
  And
• 9:28
  it's
• 9:29
  still
• 9:29
  like
• 9:29
  you
• 9:29
  mentioned,
• 9:30
  more
• 9:30
  expensive
• 9:31
  than
• 9:32
  a
• 9:32
  more
• 9:32
  reliable
• 9:33
  player
• 9:33
  like
• 9:33
  a
• 9:34
  Walmart.
• 9:34
  Plus
• 9:35
  Second,
• 9:35
  I
• 9:36
  think
• 9:36
  you
• 9:36
  have
• 9:36
  to
• 9:36
  think
• 9:37
  about
• 9:37
  how
• 9:37
  consumers
• 9:38
  are
• 9:38
  starting
• 9:38
  to
• 9:38
  search
• 9:39
  for
• 9:39
  things
• 9:39
  and
• 9:39
  if
• 9:39
  you
• 9:39
  look
• 9:40
  at
• 9:40
  organic
• 9:40
  search
• 9:41
  behaviors
• 9:41
  over
• 9:41
  the
• 9:41
  last
• 9:42
  several
• 9:42
  years,
• 9:42
  especially
• 9:43
  when
• 9:43
  grocery
• 9:43
  products
• 9:44
  are
• 9:44
  involved,
• 9:45
  Emarketer
• 9:45
  showed
• 9:46
  that
• 9:46
  you
• 9:46
  know,
• 9:46
  product
• 9:47
  search
• 9:47
  when
• 9:48
  grocery
• 9:48
  is
• 9:49
  a
• 9:49
  component
• 9:49
  of
• 9:50
  the
• 9:50
  order
• 9:50
  is
• 9:51
  increasing
• 9:51
  at
• 9:51
  a
• 9:52
  much
• 9:52
  more
• 9:52
  steady
• 9:52
  pace
• 9:53
  at
• 9:53
  Walmart
• 9:53
  than
• 9:54
  it
• 9:54
  is
• 9:54
  anywhere
• 9:55
  else.
• 9:55
  So
• 9:56
  Amazon
• 9:56
  may
• 9:56
  still
• 9:57
  lead,
• 9:57
  that
• 9:57
  might
• 9:57
  still
• 9:57
  be
• 9:58
  the
• 9:58
  place
• 9:58
  where
• 9:58
  people
• 9:58
  are
• 9:59
  going
• 9:59
  to
• 9:59
  search
• 9:59
  right
• 10:00
  now
• 10:00
  for
• 10:00
  that.
• 10:00
  You
• 10:00
  know,
• 10:01
  I
• 10:01
  need
• 10:01
  a
• 10:01
  phone
• 10:01
  charger
• 10:02
  or
• 10:02
  whatever.
• 10:03
  But
• 10:03
  I
• 10:03
  think
• 10:04
  that
• 10:04
  it's
• 10:04
  going
• 10:04
  to
• 10:05
  continue
• 10:05
  to
• 10:05
  lose
• 10:05
  share
• 10:06
  to
• 10:06
  places
• 10:07
  like
• 10:07
  you
• 10:08
  know,
• 10:08
  LLM
• 10:08
  search
• 10:09
  engines
• 10:09
  or
• 10:10
  to
• 10:10
  Walmart.
• 10:11
  And
• 10:11
  that's
• 10:12
  where
• 10:12
  things
• 10:13
  are
• 10:13
  going
• 10:13
  to
• 10:13
  change.
• 10:13
  And
• 10:14
  I
• 10:14
  don't
• 10:14
  see
• 10:14
  this
• 10:14
  like
• 10:15
  long
• 10:15
  term
• 10:15
  payoff
• 10:16
  of
• 10:16
  Amazon's
• 10:17
  my
• 10:17
  go
• 10:17
  to
• 10:17
  for
• 10:18
  everything
• 10:18
  perishable,
• 10:19
  everything,
• 10:20
  you
• 10:20
  know,
• 10:21
  essentials
• 10:21
  product.
• 10:22
  I
• 10:23
  don't
• 10:23
  think
• 10:23
  it's
• 10:23
  enough
• 10:24
  to
• 10:24
  keep
• 10:24
  that
• 10:24
  momentum
• 10:25
  going
• 10:25
  for
• 10:25
  Amazon.
• 10:27
  Yeah,
• 10:27
  no,
• 10:27
  I,
• 10:28
  yeah
• 10:29
  that's.
• 10:29
  It's
• 10:29
  really
• 10:29
  interesting.
• 10:30
  And
• 10:31
  that
• 10:31
  research
• 10:31
  study
• 10:31
  that
• 10:32
  you
• 10:32
  mentioned
• 10:32
  with
• 10:32
  Jordan
• 10:33
  Burke
• 10:33
  and
• 10:33
  Tomorrow
• 10:33
  Retail
• 10:34
  too,
• 10:34
  which
• 10:34
  I
• 10:34
  thought
• 10:34
  was
• 10:34
  really
• 10:35
  interesting
• 10:35
  and
• 10:35
  really
• 10:35
  good.
• 10:35
  Yeah,
• 10:36
  it's.
• 10:37
  You
• 10:37
  have
• 10:37
  to
• 10:37
  read
• 10:37
  between
• 10:37
  the
• 10:38
  lines
• 10:38
  on
• 10:38
  that
• 10:38
  article
• 10:38
  a
• 10:39
  little
• 10:39
  bit
• 10:39
  too
• 10:39
  though
• 10:39
  because
• 10:39
  that
• 10:40
  was.
• 10:40
  And,
• 10:41
  and
• 10:41
  and
• 10:41
  I'd
• 10:42
  love
• 10:42
  to
• 10:42
  get
• 10:42
  Jordan's
• 10:42
  opinion
• 10:43
  on
• 10:43
  this
• 10:43
  maybe
• 10:43
  when
• 10:43
  he
• 10:43
  sees
• 10:43
  the
• 10:43
  post
• 10:44
  on
• 10:44
  social
• 10:44
  media
• 10:44
  too.
• 10:45
  It
• 10:45
  seemed
• 10:45
  like
• 10:45
  that
• 10:45
  was
• 10:46
  more
• 10:46
  about
• 10:46
  like
• 10:46
  the
• 10:46
  household
• 10:47
  cleaning
• 10:47
  products
• 10:48
  and
• 10:48
  things
• 10:48
  like
• 10:48
  that.
• 10:49
  That.
• 10:49
  Right.
• 10:49
  People
• 10:49
  are
• 10:50
  adding
• 10:50
  to
• 10:50
  their
• 10:50
  orders
• 10:51
  versus
• 10:51
  like
• 10:51
  actual
• 10:52
  fresh
• 10:52
  groceries
• 10:53
  yet.
• 10:54
  So.
• 10:54
  Right.
• 10:55
  I
• 10:55
  think
• 10:55
  they're
• 10:55
  making.
• 10:55
  That's
• 10:56
  a
• 10:56
  bri.
• 10:56
  It's,
• 10:56
  it's
• 10:57
  a
• 10:57
  bit
• 10:57
  of
• 10:57
  a
• 10:57
  logic
• 10:58
  jump
• 10:58
  to
• 10:58
  say
• 10:58
  that
• 10:59
  that's
• 10:59
  going
• 10:59
  to
• 10:59
  then
• 11:00
  happen
• 11:00
  with
• 11:00
  fresh
• 11:01
  and
• 11:01
  frozen
• 11:01
  foods
• 11:02
  too.
• 11:02
  You
• 11:03
  know
• 11:03
  because
• 11:03
  the
• 11:03
  beauty
• 11:04
  of
• 11:04
  those,
• 11:04
  those
• 11:04
  orders
• 11:05
  is
• 11:05
  they
• 11:05
  can
• 11:05
  sit
• 11:05
  on
• 11:05
  your
• 11:06
  doorstep
• 11:06
  for
• 11:06
  a
• 11:06
  while.
• 11:07
  That
• 11:07
  can't
• 11:07
  happen
• 11:08
  with
• 11:08
  fresh
• 11:08
  and
• 11:08
  frozen
• 11:09
  food
• 11:09
  orders.
• 11:09
  Right.
• 11:10
  Like
• 11:10
  you
• 11:10
  know,
• 11:10
  do
• 11:11
  you.
• 11:11
  So
• 11:11
  I
• 11:11
  think
• 11:11
  the,
• 11:12
  the
• 11:12
  thought
• 11:12
  process
• 11:13
  here
• 11:13
  is,
• 11:13
  is
• 11:13
  really
• 11:13
  tricky
• 11:14
  in
• 11:14
  terms
• 11:14
  of
• 11:14
  whether
• 11:14
  this
• 11:15
  plays
• 11:15
  out.
• 11:16
  Yes,
• 11:16
  Celia
• 11:16
  Van
• 11:17
  Wickle
• 11:17
  did
• 11:17
  a
• 11:17
  really
• 11:18
  good
• 11:18
  test
• 11:19
  on
• 11:19
  LinkedIn.
• 11:19
  So
• 11:20
  Celia
• 11:20
  has
• 11:21
  been
• 11:21
  a
• 11:21
  long
• 11:22
  time
• 11:22
  follower.
• 11:22
  So.
• 11:23
  But
• 11:23
  Celia
• 11:24
  did
• 11:24
  a
• 11:24
  test
• 11:25
  order
• 11:26
  and
• 11:26
  the
• 11:26
  stuff
• 11:27
  didn't
• 11:27
  show
• 11:27
  up
• 11:27
  at
• 11:27
  the
• 11:28
  same
• 11:28
  time.
• 11:28
  It's
• 11:28
  still
• 11:29
  coming
• 11:29
  like
• 11:29
  she
• 11:29
  got
• 11:29
  one
• 11:30
  of
• 11:30
  like
• 11:31
  tomatoes
• 11:31
  were
• 11:32
  in
• 11:32
  a
• 11:32
  separate
• 11:32
  delivery
• 11:33
  than
• 11:33
  some
• 11:34
  frozen
• 11:34
  things.
• 11:34
  And
• 11:35
  you
• 11:35
  know,
• 11:35
  it's
• 11:35
  like
• 11:36
  the,
• 11:36
  that
• 11:36
  you
• 11:37
  can
• 11:37
  give
• 11:37
  some
• 11:37
  space
• 11:37
  and
• 11:38
  time
• 11:38
  for
• 11:38
  like
• 11:38
  Amazon
• 11:39
  needs
• 11:39
  to
• 11:39
  figure
• 11:39
  out
• 11:40
  the
• 11:40
  logistics
• 11:40
  of
• 11:40
  this
• 11:41
  potentially.
• 11:42
  But
• 11:42
  how
• 11:42
  long
• 11:42
  is
• 11:42
  that
• 11:43
  Runway?
• 11:43
  Like.
• 11:44
  Yeah,
• 11:44
  yeah,
• 11:45
  I
• 11:45
  don't
• 11:45
  know.
• 11:45
  Yeah,
• 11:46
  I
• 11:46
  don't
• 11:46
  know.
• 11:46
  And
• 11:46
  are
• 11:46
  they
• 11:46
  coming
• 11:47
  from
• 11:47
  different
• 11:47
  trucks
• 11:47
  too?
• 11:48
  You
• 11:48
  know,
• 11:48
  I
• 11:48
  don't
• 11:48
  know.
• 11:48
  Difference
• 11:49
  sounds
• 11:49
  like
• 11:49
  it
• 11:50
  was
• 11:50
  too.
• 11:51
  All
• 11:51
  right,
• 11:51
  well,
• 11:51
  yeah,
• 11:52
  that's
• 11:52
  interesting.
• 11:53
  So
• 11:53
  I
• 11:53
  think
• 11:53
  we
• 11:53
  covered
• 11:53
  a
• 11:54
  lot
• 11:54
  of
• 11:54
  ground
• 11:54
  there.
• 11:54
  So.
• 11:54
  All
• 11:54
  right,
• 11:54
  headline
• 11:55
  number
• 11:55
  two.
• 11:55
  Starbucks
• 11:56
  plans
• 11:56
  to
• 11:56
  abandon
• 11:57
  all
• 11:57
  of
• 11:57
  its
• 11:57
  mobile
• 11:57
  order
• 11:58
  pick
• 11:58
  up
• 11:58
  only
• 11:59
  stores.
• 11:59
  I
• 11:59
  can't
• 11:59
  wait
• 12:00
  to
• 12:00
  hear
• 12:00
  what
• 12:00
  you
• 12:00
  think
• 12:00
  about
• 12:00
  this
• 12:01
  one
• 12:01
  because
• 12:01
  I
• 12:01
  think
• 12:01
  this
• 12:02
  is,
• 12:02
  you
• 12:02
  know,
• 12:03
  part
• 12:03
  and
• 12:03
  parcel
• 12:04
  of
• 12:04
  a
• 12:04
  strategy
• 12:04
  that
• 12:05
  you
• 12:05
  would
• 12:05
  not
• 12:05
  have
• 12:05
  recommended
• 12:06
  back
• 12:06
  in
• 12:06
  a
• 12:06
  year
• 12:07
  ago
• 12:07
  when
• 12:07
  we,
• 12:07
  when
• 12:07
  Brian
• 12:07
  Nicholl
• 12:08
  first
• 12:08
  took
• 12:08
  over.
• 12:08
  But
• 12:09
  according
• 12:09
  to
• 12:09
  the
• 12:09
  Wall
• 12:09
  Street
• 12:10
  Journal,
• 12:10
  Starbucks
• 12:11
  is
• 12:11
  moving
• 12:11
  away
• 12:12
  from
• 12:12
  operating
• 12:12
  stores
• 12:13
  that
• 12:13
  only
• 12:13
  accept
• 12:13
  mobile
• 12:14
  orders
• 12:14
  for
• 12:14
  pickup
• 12:15
  because
• 12:15
  they
• 12:15
  don't
• 12:15
  have
• 12:15
  the
• 12:16
  right
• 12:16
  vibes.
• 12:17
  The
• 12:17
  company
• 12:18
  operates
• 12:18
  around
• 12:18
  80
• 12:19
  to
• 12:19
  90
• 12:19
  locations,
• 12:20
  some
• 12:20
  of
• 12:20
  which
• 12:20
  are
• 12:21
  in
• 12:21
  office
• 12:21
  buildings
• 12:22
  that
• 12:22
  don't
• 12:22
  offer
• 12:22
  seating
• 12:23
  and
• 12:23
  are
• 12:23
  designed
• 12:24
  to
• 12:24
  get
• 12:24
  customers
• 12:24
  out
• 12:25
  quickly.
• 12:26
  Some
• 12:26
  locations
• 12:26
  could
• 12:26
  even
• 12:27
  be
• 12:27
  converted
• 12:27
  to
• 12:27
  locations
• 12:28
  with
• 12:28
  seats.
• 12:29
  Quote,
• 12:29
  we
• 12:30
  found
• 12:30
  that
• 12:30
  the
• 12:30
  format
• 12:31
  was
• 12:31
  overly
• 12:31
  transactional
• 12:32
  and
• 12:32
  lacking
• 12:33
  the
• 12:33
  warmth
• 12:33
  and
• 12:33
  human
• 12:34
  connection
• 12:34
  that
• 12:34
  defines
• 12:35
  our
• 12:35
  brand.
• 12:36
  Chief
• 12:36
  Executive
• 12:36
  Officer
• 12:37
  Brian
• 12:37
  Nicholl
• 12:38
  told
• 12:38
  investors
• 12:39
  on
• 12:39
  a
• 12:39
  recent
• 12:40
  earnings
• 12:40
  call.
• 12:41
  And
• 12:41
  do
• 12:42
  you
• 12:42
  agree
• 12:42
  or
• 12:42
  disagree
• 12:43
  with
• 12:43
  Starbucks
• 12:44
  decision
• 12:44
  to
• 12:44
  shut
• 12:44
  down
• 12:45
  its
• 12:45
  mobile
• 12:45
  only
• 12:45
  pickup
• 12:46
  stores?
• 12:47
  Okay,
• 12:48
  I
• 12:49
  disagree
• 12:49
  completely
• 12:50
  personally
• 12:50
  with
• 12:51
  removing
• 12:51
  the
• 12:51
  pickup
• 12:52
  only
• 12:52
  stores.
• 12:53
  But
• 12:53
  I
• 12:53
  think
• 12:54
  clearly
• 12:54
  there
• 12:55
  are
• 12:55
  things
• 12:55
  behind
• 12:55
  the
• 12:55
  scenes
• 12:56
  going
• 12:56
  on
• 12:56
  that
• 12:56
  we
• 12:56
  don't
• 12:57
  know
• 12:57
  about.
• 12:58
  I
• 12:58
  think
• 12:58
  the
• 12:59
  thing
• 12:59
  that
• 12:59
  rubs
• 12:59
  me
• 13:00
  the
• 13:00
  wrong
• 13:00
  way
• 13:01
  in
• 13:01
  the
• 13:01
  most
• 13:01
  here
• 13:02
  with
• 13:02
  this
• 13:02
  story
• 13:02
  is
• 13:03
  that
• 13:03
  you're
• 13:03
  using
• 13:05
  the
• 13:05
  statement
• 13:06
  bad
• 13:06
  vibes
• 13:07
  in
• 13:07
  any
• 13:07
  statement
• 13:08
  about
• 13:08
  a
• 13:08
  visit.
• 13:08
  I
• 13:08
  don't
• 13:08
  like
• 13:09
  that
• 13:09
  too.
• 13:09
  What
• 13:09
  in
• 13:09
  the
• 13:10
  hell
• 13:10
  are
• 13:10
  you
• 13:10
  thinking?
• 13:10
  That
• 13:11
  seems
• 13:11
  crazy,
• 13:11
  but
• 13:12
  here's
• 13:12
  my
• 13:13
  question.
• 13:13
  I
• 13:14
  want
• 13:14
  to
• 13:14
  know
• 13:15
  because
• 13:16
  I
• 13:16
  don't
• 13:16
  think
• 13:16
  we
• 13:16
  have
• 13:17
  a
• 13:17
  good
• 13:17
  picture
• 13:17
  of
• 13:18
  what
• 13:18
  Nickel's
• 13:19
  actual
• 13:19
  vision
• 13:20
  is
• 13:20
  for
• 13:20
  these
• 13:21
  future
• 13:21
  coffee
• 13:22
  houses.
• 13:22
  What
• 13:22
  is
• 13:22
  the
• 13:23
  right
• 13:23
  vibe
• 13:24
  that
• 13:24
  he's
• 13:25
  going
• 13:25
  for?
• 13:25
  Because
• 13:26
  the,
• 13:26
  in
• 13:26
  the
• 13:27
  article
• 13:27
  like
• 13:27
  it
• 13:28
  talks
• 13:28
  about
• 13:28
  like
• 13:28
  we're,
• 13:29
  we're
• 13:29
  going
• 13:29
  to
• 13:29
  have
• 13:29
  a
• 13:29
  coffee
• 13:30
  house
• 13:30
  that
• 13:30
  has
• 13:30
  32
• 13:31
  chairs
• 13:31
  and
• 13:31
  a
• 13:31
  drive
• 13:31
  through
• 13:32
  like
• 13:32
  that
• 13:32
  already
• 13:32
  exists.
• 13:33
  That
• 13:33
  doesn't,
• 13:33
  that's
• 13:34
  not
• 13:34
  anything
• 13:34
  new.
• 13:35
  And
• 13:35
  the
• 13:35
  drive
• 13:35
  throughs
• 13:36
  are
• 13:36
  awful
• 13:36
  experiences.
• 13:37
  Like
• 13:37
  they
• 13:37
  still
• 13:37
  take
• 13:38
  too
• 13:38
  long,
• 13:38
  they're
• 13:38
  not
• 13:38
  getting
• 13:39
  the
• 13:39
  throughput.
• 13:39
  So
• 13:40
  I
• 13:40
  think
• 13:40
  a
• 13:41
  better
• 13:41
  mobile
• 13:41
  experience
• 13:42
  is
• 13:42
  an
• 13:42
  absolute
• 13:43
  must
• 13:44
  for
• 13:44
  their
• 13:44
  future
• 13:44
  store
• 13:45
  experience.
• 13:46
  Is
• 13:46
  it
• 13:46
  exactly
• 13:47
  how
• 13:47
  they
• 13:47
  were
• 13:47
  doing
• 13:48
  it
• 13:48
  now?
• 13:48
  No,
• 13:49
  clearly
• 13:49
  not.
• 13:50
  But
• 13:50
  I
• 13:50
  still
• 13:51
  think
• 13:51
  that
• 13:51
  a
• 13:52
  mobile
• 13:52
  pickup
• 13:53
  only
• 13:53
  experience
• 13:54
  has
• 13:54
  to
• 13:55
  be
• 13:55
  part
• 13:55
  of
• 13:56
  the
• 13:56
  future
• 13:56
  coffee
• 13:57
  house
• 13:57
  experience
• 13:58
  because
• 13:58
  not
• 13:59
  everyone
• 13:59
  needs
• 13:59
  coffee
• 14:00
  plus
• 14:00
  vibes,
• 14:01
  okay?
• 14:01
  They
• 14:01
  do
• 14:02
  want
• 14:02
  to
• 14:02
  just
• 14:02
  get
• 14:02
  their
• 14:02
  coffee
• 14:03
  as
• 14:03
  quickly
• 14:04
  as
• 14:04
  possible
• 14:04
  in
• 14:05
  under
• 14:05
  four
• 14:05
  minutes
• 14:05
  like
• 14:06
  Brian
• 14:06
  Nicol
• 14:07
  promised.
• 14:08
  So
• 14:08
  my
• 14:08
  question
• 14:08
  is
• 14:09
  how
• 14:09
  do
• 14:09
  they
• 14:09
  continue
• 14:10
  to
• 14:10
  refine
• 14:11
  operations
• 14:12
  so
• 14:12
  that
• 14:12
  they
• 14:12
  can
• 14:12
  give
• 14:13
  their
• 14:13
  customers
• 14:14
  the
• 14:14
  best
• 14:14
  of
• 14:14
  both
• 14:15
  worlds
• 14:15
  and
• 14:16
  as
• 14:16
  many
• 14:16
  options
• 14:17
  as
• 14:17
  possible.
• 14:17
  But
• 14:18
  where
• 14:19
  do
• 14:19
  you
• 14:19
  land
• 14:20
  on
• 14:21
  removal
• 14:22
  of
• 14:22
  these
• 14:22
  pickup
• 14:23
  only
• 14:23
  strokes?
• 14:23
  I
• 14:24
  know
• 14:24
  you
• 14:24
  want
• 14:24
  your
• 14:24
  coffee
• 14:24
  house
• 14:25
  vibes,
• 14:25
  Chris.
• 14:25
  Yeah,
• 14:26
  well,
• 14:26
  no,
• 14:26
  I
• 14:26
  don't
• 14:26
  know.
• 14:27
  I
• 14:27
  mean,
• 14:27
  I
• 14:27
  love
• 14:28
  that
• 14:28
  you
• 14:28
  called
• 14:28
  out
• 14:28
  the
• 14:28
  vibe
• 14:29
  thing
• 14:29
  because
• 14:30
  we
• 14:30
  went
• 14:30
  to
• 14:30
  the
• 14:30
  Penn
• 14:31
  Station
• 14:31
  store
• 14:31
  like
• 14:32
  five
• 14:32
  years
• 14:32
  ago
• 14:33
  and
• 14:34
  I
• 14:34
  thought
• 14:34
  that
• 14:34
  felt
• 14:35
  really
• 14:35
  vibey
• 14:36
  with
• 14:36
  Starbucks.
• 14:36
  I
• 14:37
  actually
• 14:37
  loved
• 14:37
  it.
• 14:37
  I
• 14:38
  thought
• 14:38
  the
• 14:38
  guy
• 14:38
  was
• 14:38
  great,
• 14:38
  that
• 14:39
  gave
• 14:39
  me
• 14:39
  my
• 14:39
  order.
• 14:40
  It
• 14:40
  totally
• 14:40
  had
• 14:40
  a
• 14:40
  Starbucks
• 14:41
  vibe.
• 14:41
  It
• 14:41
  had
• 14:41
  a
• 14:41
  friendly
• 14:42
  vibe.
• 14:42
  So.
• 14:42
  So
• 14:43
  I
• 14:43
  disagree
• 14:43
  with
• 14:43
  that
• 14:44
  being
• 14:44
  the
• 14:44
  motivation,
• 14:45
  but
• 14:46
  I
• 14:46
  think
• 14:46
  I,
• 14:47
  I
• 14:47
  agree
• 14:47
  with
• 14:48
  this
• 14:48
  move,
• 14:49
  but
• 14:49
  I
• 14:49
  with
• 14:50
  a
• 14:50
  big
• 14:50
  caveat
• 14:50
  in
• 14:51
  the
• 14:51
  short
• 14:51
  term
• 14:52
  because
• 14:52
  I
• 14:53
  think
• 14:53
  what
• 14:53
  he's
• 14:53
  doing
• 14:53
  here
• 14:54
  is
• 14:54
  you
• 14:54
  have
• 14:54
  to
• 14:54
  strip.
• 14:55
  I
• 14:55
  think
• 14:55
  he's
• 14:55
  just
• 14:55
  stripping
• 14:56
  everything
• 14:56
  back
• 14:56
  to
• 14:56
  the
• 14:56
  base.
• 14:57
  He's
• 14:57
  just
• 14:57
  like,
• 14:57
  let's
• 14:58
  strip
• 14:58
  it
• 14:58
  all
• 14:58
  away
• 14:58
  and
• 14:59
  let's
• 14:59
  start
• 14:59
  over,
• 14:59
  let's
• 15:00
  start
• 15:00
  fresh.
• 15:01
  That's
• 15:01
  what
• 15:01
  he's
• 15:01
  doing
• 15:01
  across
• 15:02
  the
• 15:02
  board.
• 15:03
  Because
• 15:03
  for
• 15:03
  long
• 15:04
  run
• 15:04
  to
• 15:04
  Starbucks
• 15:04
  for
• 15:05
  in
• 15:05
  the
• 15:05
  long
• 15:05
  run
• 15:06
  for
• 15:06
  Starbucks
• 15:06
  to
• 15:06
  survive.
• 15:07
  And
• 15:07
  you
• 15:07
  and
• 15:07
  I
• 15:07
  have
• 15:07
  disagreed
• 15:08
  on
• 15:08
  this,
• 15:09
  it
• 15:09
  has
• 15:09
  to
• 15:10
  become
• 15:10
  more
• 15:10
  than
• 15:10
  just
• 15:10
  a
• 15:11
  place
• 15:11
  to
• 15:11
  get
• 15:11
  your
• 15:11
  coffee
• 15:12
  quickly
• 15:12
  and
• 15:12
  impersonately.
• 15:13
  At
• 15:13
  least
• 15:13
  that's
• 15:14
  what
• 15:14
  Nickel
• 15:14
  thinks
• 15:14
  and
• 15:15
  I
• 15:15
  happen
• 15:15
  to
• 15:15
  agree
• 15:15
  with
• 15:15
  him.
• 15:16
  However,
• 15:16
  with
• 15:16
  that
• 15:17
  said,
• 15:17
  I
• 15:17
  think
• 15:17
  you're
• 15:17
  hitting
• 15:18
  on
• 15:18
  the
• 15:18
  key
• 15:18
  point
• 15:18
  here
• 15:19
  is
• 15:19
  I
• 15:19
  do
• 15:20
  predict
• 15:20
  in
• 15:20
  the
• 15:21
  future
• 15:21
  that
• 15:22
  we're
• 15:22
  going
• 15:22
  to
• 15:22
  see
• 15:22
  this
• 15:23
  type
• 15:23
  of
• 15:23
  concept
• 15:24
  again,
• 15:24
  but
• 15:25
  either
• 15:25
  in
• 15:25
  a
• 15:25
  way
• 15:26
  that
• 15:26
  is
• 15:26
  more
• 15:26
  strategically
• 15:27
  located
• 15:28
  or
• 15:28
  in
• 15:28
  a
• 15:28
  new
• 15:29
  iteration
• 15:29
  of
• 15:30
  it,
• 15:30
  possibly
• 15:31
  alongside
• 15:31
  what
• 15:32
  he's
• 15:32
  calling
• 15:32
  his
• 15:33
  coffee
• 15:33
  house
• 15:33
  of
• 15:34
  the
• 15:34
  future.
• 15:35
  Because
• 15:35
  Starbucks
• 15:36
  still
• 15:36
  needs
• 15:36
  to
• 15:36
  figure
• 15:36
  out
• 15:37
  the
• 15:37
  capacity
• 15:37
  issue
• 15:38
  for
• 15:38
  ordering
• 15:38
  and
• 15:38
  queuing.
• 15:39
  So
• 15:39
  I
• 15:40
  think
• 15:40
  we're
• 15:40
  going
• 15:40
  to
• 15:40
  see
• 15:40
  this
• 15:41
  in
• 15:41
  some
• 15:41
  way,
• 15:41
  shape
• 15:41
  or
• 15:42
  form
• 15:42
  in
• 15:42
  the
• 15:42
  future.
• 15:43
  But
• 15:44
  we
• 15:44
  won't
• 15:44
  know
• 15:44
  until
• 15:44
  we
• 15:44
  see
• 15:45
  what
• 15:45
  that
• 15:45
  prototype
• 15:45
  is.
• 15:46
  And
• 15:46
  that's
• 15:46
  going
• 15:47
  to
• 15:47
  take
• 15:47
  a
• 15:47
  hell
• 15:47
  of
• 15:47
  a
• 15:48
  long
• 15:48
  time
• 15:48
  to
• 15:48
  re
• 15:49
  engineer
• 15:49
  the
• 15:49
  Starbucks
• 15:50
  store
• 15:50
  base
• 15:50
  to
• 15:50
  do
• 15:50
  that.
• 15:50
  So
• 15:51
  I
• 15:51
  still
• 15:51
  think
• 15:51
  we'll
• 15:52
  potentially
• 15:52
  see
• 15:52
  these
• 15:53
  stores
• 15:53
  start
• 15:54
  to
• 15:54
  exist
• 15:54
  in
• 15:54
  some
• 15:54
  variety,
• 15:55
  but
• 15:55
  with
• 15:55
  an
• 15:56
  enhanced
• 15:57
  marketing
• 15:57
  vibe,
• 15:58
  so
• 15:58
  to
• 15:58
  speak,
• 15:58
  when
• 15:59
  they
• 15:59
  do
• 15:59
  come
• 15:59
  back
• 15:59
  and
• 16:00
  roll
• 16:00
  out
• 16:00
  down
• 16:00
  the
• 16:00
  road.
• 16:01
  That's
• 16:01
  my
• 16:01
  prediction.
• 16:02
  Unbelievable.
• 16:04
  I
• 16:04
  just
• 16:04
  like
• 16:05
  picture
• 16:05
  Brian
• 16:05
  Niccol
• 16:06
  in
• 16:06
  his
• 16:06
  brand
• 16:06
  new
• 16:06
  office
• 16:07
  in
• 16:08
  Newport
• 16:08
  beach
• 16:09
  with
• 16:09
  his
• 16:09
  good
• 16:09
  vibes
• 16:10
  only
• 16:10
  T
• 16:10
  shirt
• 16:10
  and,
• 16:11
  you
• 16:11
  know,
• 16:11
  trying
• 16:12
  to,
• 16:12
  trying
• 16:13
  to
• 16:13
  look
• 16:13
  out
• 16:13
  at
• 16:13
  the
• 16:14
  ocean
• 16:14
  and
• 16:14
  figure
• 16:14
  out
• 16:15
  what
• 16:15
  this
• 16:15
  new
• 16:15
  concept
• 16:16
  looks
• 16:16
  like.
• 16:16
  It
• 16:17
  sounds
• 16:17
  very
• 16:17
  peaceful
• 16:18
  and
• 16:18
  relaxing
• 16:18
  and
• 16:18
  very
• 16:19
  envious.
• 16:20
  Okay,
• 16:21
  let's
• 16:21
  go
• 16:21
  on
• 16:21
  to
• 16:21
  headline
• 16:22
  number
• 16:22
  three.
• 16:23
  Warby
• 16:23
  Parker
• 16:24
  plans
• 16:24
  to
• 16:24
  end
• 16:25
  its
• 16:25
  Home
• 16:25
  Try
• 16:25
  on
• 16:26
  program
• 16:26
  as
• 16:26
  it
• 16:26
  focuses
• 16:27
  on
• 16:27
  its
• 16:27
  stores
• 16:28
  and
• 16:28
  digital
• 16:29
  experience.
• 16:29
  According
• 16:29
  to
• 16:30
  retail
• 16:30
  dive,
• 16:30
  Warby
• 16:31
  Parker
• 16:31
  will
• 16:31
  sunset
• 16:32
  its
• 16:32
  Home
• 16:32
  Try
• 16:32
  on
• 16:32
  program
• 16:32
  by
• 16:33
  the
• 16:33
  end
• 16:33
  of
• 16:33
  the
• 16:33
  year,
• 16:33
  executives
• 16:34
  said
• 16:34
  on
• 16:34
  a
• 16:35
  call.
• 16:35
  The
• 16:35
  eyewear
• 16:36
  company
• 16:36
  said
• 16:36
  the
• 16:36
  vast
• 16:37
  majority
• 16:37
  of
• 16:37
  recent
• 16:37
  Home
• 16:38
  Try
• 16:38
  on
• 16:38
  users
• 16:39
  live
• 16:39
  within
• 16:39
  3:30
• 16:40
  minutes
• 16:40
  of
• 16:40
  a
• 16:40
  Warby
• 16:41
  Parker
• 16:41
  store.
• 16:42
  Chris,
• 16:43
  what
• 16:43
  does
• 16:43
  this
• 16:43
  move
• 16:44
  to
• 16:44
  cancel
• 16:45
  in
• 16:45
  Home
• 16:45
  Try
• 16:45
  on
• 16:46
  say
• 16:46
  about
• 16:47
  the
• 16:47
  future
• 16:47
  of
• 16:48
  Warby
• 16:48
  Parker?
• 16:50
  I
• 16:51
  think
• 16:51
  it
• 16:51
  says
• 16:51
  there's
• 16:51
  a
• 16:51
  lot
• 16:52
  more
• 16:52
  to
• 16:52
  this
• 16:52
  story
• 16:52
  than
• 16:53
  meets
• 16:53
  the
• 16:53
  eye.
• 16:54
  And
• 16:54
  see
• 16:55
  what
• 16:55
  I
• 16:55
  did.
• 16:55
  Oh,
• 16:55
  good.
• 16:56
  I'm
• 16:56
  so
• 16:56
  glad
• 16:56
  you
• 16:57
  had
• 16:57
  that
• 16:57
  opportunity.
• 16:58
  Continue,
• 16:58
  please.
• 17:00
  And
• 17:00
  the
• 17:00
  reason
• 17:01
  I
• 17:01
  say
• 17:01
  that
• 17:01
  is
• 17:01
  I've
• 17:01
  often
• 17:01
  wondered
• 17:02
  aloud
• 17:02
  on
• 17:02
  this
• 17:03
  show
• 17:03
  why
• 17:04
  Warby
• 17:04
  Parker
• 17:05
  has
• 17:05
  been
• 17:05
  growing
• 17:05
  so
• 17:05
  slowly.
• 17:07
  Because
• 17:07
  according
• 17:07
  to
• 17:07
  the
• 17:07
  article,
• 17:08
  Warby
• 17:08
  has
• 17:08
  approximately
• 17:09
  300
• 17:09
  stores
• 17:10
  and
• 17:10
  has
• 17:10
  been
• 17:10
  around
• 17:11
  for
• 17:11
  almost
• 17:11
  15
• 17:11
  years.
• 17:12
  So
• 17:12
  if
• 17:12
  you're
• 17:12
  keeping
• 17:12
  score
• 17:13
  at
• 17:13
  home,
• 17:13
  folks,
• 17:14
  that's
• 17:14
  20
• 17:14
  stores
• 17:15
  per
• 17:15
  year
• 17:16
  in
• 17:16
  what
• 17:16
  is
• 17:16
  honestly
• 17:17
  a
• 17:17
  relatively
• 17:17
  small
• 17:18
  footprint.
• 17:18
  So
• 17:19
  I
• 17:19
  think
• 17:19
  relatively
• 17:19
  speaking,
• 17:20
  it
• 17:20
  should
• 17:20
  roll
• 17:20
  out
• 17:20
  a
• 17:20
  little
• 17:21
  bit
• 17:21
  faster
• 17:21
  because
• 17:21
  it
• 17:21
  takes
• 17:22
  less
• 17:22
  capital
• 17:22
  when
• 17:22
  it's
• 17:23
  a
• 17:23
  smaller
• 17:23
  footprint.
• 17:24
  And
• 17:25
  now
• 17:25
  they're
• 17:25
  saying
• 17:25
  in
• 17:26
  the
• 17:26
  article
• 17:26
  that
• 17:26
  all
• 17:27
  of
• 17:27
  their
• 17:27
  customers
• 17:27
  live
• 17:28
  within
• 17:28
  30
• 17:28
  minutes
• 17:28
  of
• 17:29
  the
• 17:29
  store.
• 17:29
  Yeah,
• 17:29
  well,
• 17:30
  if
• 17:30
  your
• 17:30
  stores
• 17:31
  are
• 17:31
  only
• 17:31
  in
• 17:32
  dense
• 17:32
  urban
• 17:32
  areas,
• 17:33
  yeah,
• 17:33
  that's
• 17:33
  probably
• 17:34
  true.
• 17:34
  So.
• 17:34
  So
• 17:34
  if
• 17:35
  I'm
• 17:35
  reading
• 17:35
  between
• 17:35
  the
• 17:35
  lines
• 17:36
  and
• 17:36
  understand
• 17:37
  what.
• 17:38
  Understand
• 17:38
  and
• 17:38
  mean,
• 17:39
  what
• 17:39
  this
• 17:39
  announcement
• 17:39
  is
• 17:39
  trying
• 17:40
  to
• 17:40
  say
• 17:40
  is
• 17:40
  we
• 17:41
  no
• 17:41
  longer
• 17:41
  need
• 17:41
  online
• 17:42
  for
• 17:42
  the
• 17:42
  acquisition
• 17:43
  that
• 17:44
  it
• 17:44
  provides.
• 17:44
  It's
• 17:45
  no
• 17:45
  longer
• 17:45
  needed
• 17:45
  as
• 17:45
  an
• 17:46
  acquisition
• 17:46
  tool
• 17:46
  in
• 17:46
  the
• 17:47
  urban
• 17:47
  markets
• 17:47
  and
• 17:48
  vice
• 17:48
  versa.
• 17:49
  It
• 17:49
  isn't
• 17:49
  paying
• 17:50
  off
• 17:50
  for
• 17:50
  us
• 17:50
  as
• 17:51
  an
• 17:51
  acquisition
• 17:51
  tool
• 17:52
  in
• 17:52
  the
• 17:52
  other
• 17:52
  markets.
• 17:53
  So
• 17:53
  we're
• 17:53
  shutting
• 17:54
  it
• 17:54
  down
• 17:54
  because
• 17:54
  it's
• 17:54
  too
• 17:55
  expensive.
• 17:55
  And
• 17:56
  so
• 17:56
  then
• 17:56
  I
• 17:56
  have
• 17:56
  to
• 17:56
  ask
• 17:57
  myself,
• 17:58
  with,
• 17:58
  with
• 17:58
  that
• 17:58
  element
• 17:59
  gone,
• 18:00
  how
• 18:00
  different
• 18:00
  is
• 18:00
  Warby
• 18:01
  from
• 18:01
  another
• 18:01
  eyewear
• 18:02
  store?
• 18:02
  I
• 18:02
  mean,
• 18:03
  virtual
• 18:03
  triad.
• 18:04
  Come
• 18:04
  on,
• 18:04
  seriously.
• 18:05
  And
• 18:05
  I
• 18:05
  mean,
• 18:05
  how
• 18:05
  many
• 18:06
  of
• 18:06
  those
• 18:06
  things
• 18:06
  have
• 18:06
  we
• 18:06
  tried?
• 18:07
  How
• 18:07
  gimmicky
• 18:07
  are
• 18:07
  they?
• 18:08
  They
• 18:08
  never
• 18:08
  look
• 18:09
  right
• 18:09
  on
• 18:09
  your
• 18:09
  face.
• 18:09
  Like
• 18:10
  they
• 18:10
  look
• 18:10
  ridiculous
• 18:11
  half
• 18:11
  the
• 18:11
  time.
• 18:11
  And
• 18:12
  they're
• 18:12
  not
• 18:12
  good.
• 18:13
  No,
• 18:13
  they're
• 18:13
  not
• 18:13
  good.
• 18:14
  So,
• 18:14
  like,
• 18:14
  that's
• 18:14
  not
• 18:14
  going
• 18:14
  to
• 18:15
  be
• 18:15
  a
• 18:15
  supplement
• 18:15
  for
• 18:16
  this.
• 18:16
  So.
• 18:17
  And,
• 18:17
  and
• 18:18
  more
• 18:18
  importantly,
• 18:19
  doesn't
• 18:19
  it
• 18:20
  also
• 18:20
  mean
• 18:20
  that.
• 18:21
  That
• 18:21
  Warby's
• 18:22
  growth
• 18:22
  nationally
• 18:23
  could
• 18:23
  soon
• 18:24
  be
• 18:24
  constrained.
• 18:25
  So.
• 18:26
  So.
• 18:26
  And
• 18:28
  that
• 18:28
  kind
• 18:28
  of
• 18:28
  explains
• 18:29
  the
• 18:29
  odd
• 18:29
  decision,
• 18:29
  I
• 18:30
  think,
• 18:30
  to
• 18:30
  go
• 18:30
  into
• 18:30
  Target
• 18:31
  stores
• 18:31
  as
• 18:31
  well.
• 18:32
  So
• 18:32
  something
• 18:33
  just
• 18:33
  doesn't
• 18:34
  smell
• 18:34
  right
• 18:35
  to
• 18:35
  me
• 18:36
  with
• 18:36
  this
• 18:36
  announcement.
• 18:38
  Yeah,
• 18:38
  I
• 18:39
  don't
• 18:39
  know.
• 18:39
  I
• 18:39
  think
• 18:39
  it
• 18:39
  makes
• 18:40
  sense
• 18:40
  from
• 18:40
  a
• 18:40
  financial
• 18:41
  standpoint.
• 18:41
  I
• 18:41
  think
• 18:41
  if
• 18:42
  you're,
• 18:42
  if
• 18:42
  you're
• 18:42
  looking
• 18:43
  at
• 18:43
  the
• 18:43
  spreadsheet
• 18:44
  like
• 18:45
  home
• 18:45
  try
• 18:46
  on
• 18:46
  is
• 18:46
  incredibly
• 18:47
  expensive,
• 18:49
  and
• 18:49
  the
• 18:50
  return,
• 18:50
  again
• 18:51
  to
• 18:51
  your
• 18:51
  point,
• 18:51
  like
• 18:51
  the
• 18:51
  return
• 18:52
  on
• 18:52
  that,
• 18:53
  you
• 18:53
  know,
• 18:53
  even
• 18:53
  if
• 18:54
  somebody
• 18:54
  gets
• 18:54
  those
• 18:54
  five
• 18:55
  glasses,
• 18:55
  are
• 18:56
  they
• 18:56
  deciding
• 18:56
  how
• 18:57
  many
• 18:57
  pairs
• 18:57
  of
• 18:57
  glasses
• 18:57
  you
• 18:58
  try
• 18:58
  on?
• 18:58
  When
• 18:58
  you
• 18:58
  go
• 18:59
  look
• 18:59
  at
• 18:59
  glasses,
• 18:59
  it's
• 18:59
  probably
• 19:00
  more
• 19:00
  than
• 19:00
  five.
• 19:00
  Like,
• 19:01
  how
• 19:01
  many
• 19:01
  times
• 19:01
  is
• 19:01
  that
• 19:02
  happening?
• 19:02
  Like,
• 19:02
  I
• 19:03
  just,
• 19:03
  I
• 19:03
  think
• 19:03
  there's
• 19:03
  a
• 19:03
  lot
• 19:03
  of
• 19:03
  weight.
• 19:04
  And
• 19:04
  so
• 19:04
  this
• 19:05
  feels
• 19:05
  like
• 19:06
  a
• 19:06
  smart
• 19:06
  financial
• 19:06
  decision
• 19:07
  to
• 19:07
  just
• 19:07
  cut
• 19:08
  the
• 19:08
  fat
• 19:08
  there.
• 19:09
  But
• 19:09
  the
• 19:09
  big
• 19:10
  questions
• 19:10
  for
• 19:10
  me
• 19:10
  now
• 19:11
  are,
• 19:11
  you
• 19:12
  know,
• 19:12
  even
• 19:12
  though
• 19:13
  they
• 19:13
  live
• 19:13
  within
• 19:14
  30
• 19:14
  miles
• 19:14
  of
• 19:15
  stores,
• 19:15
  are
• 19:16
  people
• 19:16
  going
• 19:16
  to
• 19:17
  drive
• 19:18
  to
• 19:18
  the
• 19:18
  Warby
• 19:19
  Parker
• 19:19
  stores?
• 19:19
  Like,
• 19:19
  are,
• 19:20
  are
• 19:20
  they
• 19:20
  going
• 19:20
  to
• 19:20
  continue
• 19:21
  to
• 19:21
  get
• 19:21
  the
• 19:21
  volume
• 19:22
  that
• 19:23
  they're
• 19:23
  seeing
• 19:24
  right
• 19:24
  now
• 19:24
  with
• 19:25
  the
• 19:25
  existing
• 19:25
  store
• 19:26
  count
• 19:26
  that
• 19:26
  they
• 19:26
  have?
• 19:27
  Maybe
• 19:28
  now
• 19:28
  that
• 19:28
  they've
• 19:28
  added
• 19:29
  like
• 19:29
  the,
• 19:29
  the
• 19:30
  eye
• 19:30
  exams
• 19:30
  and
• 19:31
  the
• 19:31
  doctors
• 19:31
  in
• 19:31
  the
• 19:32
  store,
• 19:32
  like,
• 19:33
  that's
• 19:33
  something
• 19:33
  people
• 19:33
  have
• 19:33
  to
• 19:34
  do.
• 19:34
  So
• 19:34
  you're
• 19:34
  kind
• 19:34
  of,
• 19:35
  you're
• 19:35
  kind
• 19:35
  of
• 19:36
  creating
• 19:36
  that
• 19:36
  one
• 19:36
  stop
• 19:37
  shop.
• 19:38
  But
• 19:38
  then
• 19:38
  my
• 19:39
  other
• 19:39
  question
• 19:39
  is,
• 19:40
  can
• 19:40
  they
• 19:40
  scale
• 19:41
  that
• 19:41
  great
• 19:41
  store
• 19:42
  experience?
• 19:42
  Because
• 19:43
  they
• 19:43
  do
• 19:43
  have
• 19:44
  a
• 19:44
  high
• 19:45
  level.
• 19:45
  Like,
• 19:45
  there's
• 19:46
  so
• 19:46
  many
• 19:46
  employees
• 19:46
  in
• 19:46
  that
• 19:47
  store.
• 19:47
  There's
• 19:47
  a
• 19:48
  certain
• 19:48
  kind
• 19:48
  of
• 19:48
  educated
• 19:49
  employee
• 19:50
  that's
• 19:50
  working
• 19:50
  in
• 19:50
  that
• 19:51
  store
• 19:51
  that
• 19:51
  in
• 19:52
  a,
• 19:52
  in
• 19:52
  a
• 19:52
  tightened
• 19:53
  labor
• 19:53
  market,
• 19:53
  like,
• 19:53
  I
• 19:54
  just
• 19:54
  wonder
• 19:54
  if
• 19:54
  they're
• 19:55
  going
• 19:55
  to
• 19:55
  be
• 19:55
  able
• 19:55
  to
• 19:55
  keep
• 19:56
  that
• 19:56
  up.
• 19:56
  Because
• 19:57
  if
• 19:57
  they
• 19:57
  can't
• 19:58
  pay
• 19:58
  that
• 19:58
  off
• 19:59
  and
• 19:59
  they
• 19:59
  don't
• 19:59
  have
• 20:00
  home
• 20:00
  try
• 20:00
  on
• 20:00
  anymore,
• 20:01
  there's
• 20:01
  no
• 20:01
  difference
• 20:02
  between
• 20:02
  them
• 20:02
  and
• 20:03
  every
• 20:03
  other
• 20:03
  player
• 20:04
  out
• 20:04
  there
• 20:04
  selling
• 20:05
  glasses
• 20:05
  online.
• 20:06
  So
• 20:07
  that's
• 20:07
  that.
• 20:07
  Those
• 20:08
  are
• 20:08
  the
• 20:08
  real
• 20:08
  questions
• 20:08
  for
• 20:08
  me.
• 20:09
  And
• 20:09
  then
• 20:10
  finally,
• 20:10
  will
• 20:11
  that
• 20:11
  Target
• 20:11
  partnership
• 20:12
  pay
• 20:12
  off
• 20:12
  for
• 20:12
  them?
• 20:13
  That's
• 20:13
  going
• 20:13
  to
• 20:14
  be
• 20:14
  a
• 20:14
  big
• 20:14
  question.
• 20:14
  They've
• 20:15
  got
• 20:15
  five
• 20:15
  stores
• 20:15
  right
• 20:16
  now,
• 20:16
  but
• 20:16
  knowing,
• 20:17
  knowing
• 20:17
  that
• 20:18
  Target's
• 20:18
  going
• 20:18
  to
• 20:18
  have
• 20:18
  some
• 20:19
  extra
• 20:19
  floor
• 20:19
  space
• 20:19
  coming
• 20:20
  up
• 20:20
  available
• 20:21
  In
• 20:21
  August
• 20:21
  of
• 20:22
  2026,
• 20:23
  will
• 20:23
  they
• 20:24
  figure
• 20:24
  out,
• 20:24
  like,
• 20:25
  we
• 20:25
  have
• 20:25
  to
• 20:25
  be
• 20:25
  in
• 20:26
  more
• 20:26
  areas,
• 20:26
  we
• 20:27
  have
• 20:27
  to
• 20:27
  take
• 20:27
  more
• 20:28
  advantage
• 20:28
  of
• 20:28
  this
• 20:28
  Target
• 20:29
  partnership,
• 20:29
  or
• 20:29
  does
• 20:30
  it
• 20:30
  just
• 20:30
  completely
• 20:30
  go
• 20:31
  away?
• 20:31
  And,
• 20:32
  and
• 20:32
  they're
• 20:33
  with
• 20:33
  their,
• 20:33
  their
• 20:33
  300
• 20:34
  stores.
• 20:34
  I
• 20:34
  got
• 20:34
  to
• 20:34
  get
• 20:35
  over
• 20:35
  and
• 20:35
  see
• 20:35
  that,
• 20:35
  too.
• 20:35
  I
• 20:35
  guess
• 20:36
  it's
• 20:36
  over
• 20:36
  in
• 20:36
  Bloomington.
• 20:36
  I
• 20:37
  got
• 20:37
  to
• 20:37
  go
• 20:37
  check
• 20:37
  it
• 20:37
  out.
• 20:37
  Yeah,
• 20:38
  it's
• 20:38
  a
• 20:38
  great,
• 20:38
  I
• 20:38
  mean,
• 20:38
  it
• 20:39
  looks
• 20:39
  great.
• 20:39
  It's
• 20:40
  right
• 20:40
  up
• 20:40
  front.
• 20:40
  Like
• 20:41
  it's,
• 20:41
  it's
• 20:41
  in
• 20:41
  a
• 20:41
  Good
• 20:42
  spot.
• 20:43
  But
• 20:43
  what,
• 20:44
  what
• 20:44
  will
• 20:44
  traffic
• 20:44
  look
• 20:45
  like?
• 20:45
  That's
• 20:45
  the
• 20:46
  question.
• 20:46
  The
• 20:47
  big
• 20:47
  net
• 20:47
  net
• 20:47
  question
• 20:48
  that
• 20:48
  you
• 20:48
  and
• 20:48
  I
• 20:48
  have
• 20:48
  then
• 20:48
  is
• 20:48
  like,
• 20:49
  where's
• 20:49
  the
• 20:50
  growth
• 20:50
  opportunity
• 20:50
  coming
• 20:51
  from?
• 20:51
  Like,
• 20:51
  how
• 20:51
  is
• 20:51
  this,
• 20:52
  how
• 20:52
  are
• 20:52
  they
• 20:52
  going
• 20:52
  to
• 20:53
  continue
• 20:53
  to
• 20:53
  scale
• 20:53
  if
• 20:54
  this
• 20:54
  goes
• 20:54
  away?
• 20:55
  So
• 20:55
  interesting.
• 20:56
  All
• 20:56
  right,
• 20:56
  well,
• 20:56
  let's
• 20:56
  bring
• 20:57
  Ben
• 20:57
  Miller
• 20:57
  onto
• 20:58
  today's
• 20:58
  show.
• 21:08
  Joining
• 21:08
  us
• 21:08
  now
• 21:08
  for
• 21:08
  five
• 21:09
  insightful
• 21:09
  minutes
• 21:09
  is
• 21:10
  Ben
• 21:10
  Miller,
• 21:10
  the
• 21:10
  VP
• 21:11
  of
• 21:11
  original
• 21:11
  content
• 21:12
  and
• 21:12
  strategy
• 21:12
  for
• 21:13
  Shop
• 21:13
  Talk
• 21:13
  and
• 21:14
  Grocery
• 21:14
  Shop.
• 21:14
  Ben
• 21:15
  is
• 21:15
  here
• 21:15
  to
• 21:15
  give
• 21:15
  us
• 21:15
  a
• 21:15
  preview
• 21:16
  of
• 21:16
  the
• 21:16
  upcoming
• 21:17
  Shop
• 21:17
  Talk
• 21:17
  Fall
• 21:18
  and
• 21:18
  Grocery
• 21:19
  Shop
• 21:19
  events.
• 21:19
  Okay,
• 21:20
  Ben,
• 21:20
  let's
• 21:20
  start
• 21:20
  with
• 21:21
  this.
• 21:21
  Shop
• 21:22
  Talk
• 21:22
  Fall.
• 21:22
  It's
• 21:22
  coming
• 21:23
  up
• 21:23
  fast
• 21:23
  in
• 21:23
  mid
• 21:23
  September.
• 21:25
  What
• 21:25
  are
• 21:25
  you
• 21:25
  expecting
• 21:25
  to
• 21:26
  be
• 21:26
  the
• 21:26
  main
• 21:26
  topics
• 21:27
  of
• 21:27
  conversation?
• 21:28
  And
• 21:28
  there's
• 21:28
  two
• 21:29
  themes
• 21:29
  that
• 21:29
  are
• 21:29
  emerging
• 21:30
  above
• 21:30
  all
• 21:30
  others
• 21:30
  and
• 21:31
  that's
• 21:31
  tariffs
• 21:32
  and
• 21:32
  AI.
• 21:33
  And
• 21:33
  of
• 21:33
  course,
• 21:34
  we're
• 21:34
  going
• 21:34
  to
• 21:34
  be
• 21:34
  covering
• 21:35
  both
• 21:36
  extensively.
• 21:37
  AI
• 21:38
  use
• 21:38
  cases,
• 21:39
  deep
• 21:39
  dive
• 21:39
  sessions,
• 21:40
  and
• 21:40
  on
• 21:41
  tariffs
• 21:41
  as
• 21:42
  well
• 21:42
  as
• 21:42
  some
• 21:42
  of
• 21:42
  the
• 21:42
  practical
• 21:43
  implications.
• 21:43
  We've
• 21:43
  also
• 21:44
  added
• 21:44
  a
• 21:45
  two
• 21:45
  day
• 21:46
  full
• 21:46
  track
• 21:47
  with
• 21:47
  senior
• 21:48
  speakers
• 21:48
  talking
• 21:48
  about
• 21:48
  leadership
• 21:49
  in
• 21:49
  times
• 21:50
  of
• 21:50
  turmoil
• 21:51
  and
• 21:51
  talking
• 21:52
  about
• 21:52
  agility.
• 21:52
  So
• 21:53
  that's
• 21:53
  new
• 21:53
  for
• 21:53
  this
• 21:53
  show
• 21:54
  and
• 21:54
  that's
• 21:54
  going
• 21:54
  to
• 21:54
  be
• 21:55
  really,
• 21:55
  really
• 21:55
  interesting.
• 21:56
  But
• 21:56
  look,
• 21:56
  it's
• 21:57
  not
• 21:57
  just
• 21:58
  about
• 21:58
  tariffs
• 21:59
  and
• 21:59
  AI.
• 22:00
  We're
• 22:00
  going
• 22:00
  to
• 22:00
  be
• 22:00
  covering
• 22:01
  so
• 22:01
  much
• 22:01
  more.
• 22:02
  So
• 22:02
  there
• 22:02
  will,
• 22:02
  there
• 22:03
  are
• 22:03
  sessions
• 22:03
  on
• 22:03
  merchandising,
• 22:04
  we've
• 22:04
  got
• 22:04
  tracks
• 22:05
  on
• 22:05
  loyalty,
• 22:05
  we've
• 22:05
  got
• 22:06
  tracks
• 22:06
  on
• 22:06
  brand
• 22:07
  building.
• 22:08
  So
• 22:08
  lots
• 22:08
  and
• 22:08
  lots
• 22:09
  to
• 22:09
  cover,
• 22:09
  including
• 22:10
  the
• 22:10
  deep
• 22:10
  dive
• 22:11
  on
• 22:11
  tariff
• 22:11
  and
• 22:12
  AI.
• 22:12
  What
• 22:12
  about
• 22:13
  Grocery
• 22:13
  Shop
• 22:13
  here
• 22:14
  at
• 22:14
  the
• 22:14
  end
• 22:14
  of
• 22:14
  the
• 22:14
  month?
• 22:15
  What
• 22:15
  should
• 22:15
  we
• 22:15
  expect
• 22:15
  at
• 22:16
  that
• 22:16
  show?
• 22:17
  Yeah,
• 22:17
  look,
• 22:17
  Grocery
• 22:18
  Shop
• 22:18
  could
• 22:18
  be
• 22:18
  slightly
• 22:19
  different
• 22:20
  a
• 22:20
  because
• 22:21
  it's
• 22:21
  global
• 22:22
  in
• 22:22
  focus,
• 22:23
  whereas
• 22:23
  Chop
• 22:24
  Talk
• 22:24
  Fall
• 22:24
  is
• 22:25
  a
• 22:25
  lot
• 22:25
  more
• 22:25
  about
• 22:25
  the
• 22:25
  US
• 22:26
  market.
• 22:26
  And
• 22:27
  also
• 22:27
  we
• 22:27
  can
• 22:27
  build
• 22:27
  really
• 22:28
  sector
• 22:28
  specific
• 22:29
  around
• 22:29
  grocery
• 22:30
  and
• 22:30
  cpg.
• 22:31
  So
• 22:31
  we
• 22:31
  can
• 22:31
  really
• 22:31
  hone
• 22:31
  in
• 22:32
  on
• 22:32
  the
• 22:32
  big
• 22:32
  questions
• 22:33
  for
• 22:33
  that
• 22:33
  sector.
• 22:34
  And
• 22:34
  for
• 22:35
  us,
• 22:35
  that's
• 22:35
  around
• 22:36
  digital
• 22:36
  demand
• 22:36
  creation
• 22:37
  and
• 22:38
  how
• 22:38
  you
• 22:38
  move
• 22:38
  volume
• 22:39
  in
• 22:39
  the
• 22:39
  market.
• 22:39
  At
• 22:40
  the
• 22:40
  moment
• 22:40
  it's
• 22:41
  about
• 22:41
  efficiency.
• 22:42
  So
• 22:42
  it's
• 22:43
  incredibly
• 22:44
  efficient
• 22:44
  industry
• 22:45
  as
• 22:45
  it
• 22:45
  is.
• 22:45
  We're
• 22:46
  in
• 22:46
  a
• 22:46
  way
• 22:46
  for
• 22:46
  thin
• 22:46
  margins,
• 22:47
  but
• 22:47
  the
• 22:47
  pressure
• 22:48
  is
• 22:48
  there
• 22:48
  to
• 22:48
  make
• 22:48
  even
• 22:49
  more
• 22:49
  efficiency
• 22:50
  gains
• 22:50
  and
• 22:50
  technology
• 22:51
  is
• 22:51
  the
• 22:51
  only
• 22:51
  route
• 22:51
  to
• 22:52
  do
• 22:52
  that.
• 22:52
  So
• 22:52
  how
• 22:53
  are
• 22:53
  we
• 22:53
  going
• 22:53
  to
• 22:53
  do
• 22:53
  that?
• 22:54
  And
• 22:54
  then
• 22:54
  of
• 22:54
  course
• 22:54
  there's
• 22:55
  retail
• 22:55
  media.
• 22:55
  It
• 22:56
  sits
• 22:56
  across
• 22:56
  all
• 22:56
  the
• 22:57
  conversations
• 22:57
  between
• 22:58
  retailers
• 22:58
  and
• 22:58
  brands
• 22:58
  at
• 22:58
  the
• 22:59
  moment.
• 22:59
  We've
• 22:59
  got
• 22:59
  to
• 22:59
  face
• 22:59
  into
• 23:00
  it.
• 23:00
  But
• 23:00
  yeah,
• 23:01
  what
• 23:01
  does
• 23:01
  good
• 23:01
  look
• 23:01
  like?
• 23:02
  What
• 23:02
  does
• 23:02
  the
• 23:02
  future
• 23:02
  look
• 23:03
  like
• 23:03
  and
• 23:03
  how
• 23:03
  do
• 23:04
  you
• 23:04
  get
• 23:04
  the
• 23:04
  best
• 23:04
  out
• 23:04
  of
• 23:05
  your
• 23:05
  investment?
• 23:07
  I
• 23:07
  think
• 23:07
  consumer
• 23:08
  attitudes
• 23:09
  about
• 23:09
  GLP1
• 23:10
  about
• 23:10
  drugs,
• 23:11
  but
• 23:11
  also
• 23:11
  about
• 23:12
  the
• 23:12
  potential
• 23:12
  MAHA
• 23:13
  Make
• 23:13
  America
• 23:14
  Healthy
• 23:14
  again
• 23:14
  moment.
• 23:15
  And
• 23:15
  some
• 23:15
  of
• 23:15
  the
• 23:15
  intervention
• 23:15
  that
• 23:16
  we've
• 23:16
  seen
• 23:16
  from
• 23:16
  governments.
• 23:17
  Ben,
• 23:17
  I
• 23:17
  noticed
• 23:17
  you
• 23:17
  didn't
• 23:18
  say
• 23:18
  AI.
• 23:18
  Is
• 23:18
  AI
• 23:19
  not
• 23:19
  impacting
• 23:19
  the
• 23:19
  grocery
• 23:20
  industry
• 23:20
  to
• 23:20
  the
• 23:20
  same
• 23:21
  degree?
• 23:21
  Absolutely.
• 23:22
  Far
• 23:22
  from
• 23:22
  it.
• 23:23
  So
• 23:23
  how
• 23:23
  we're
• 23:23
  tackling
• 23:24
  that
• 23:24
  at
• 23:24
  Grocery
• 23:24
  Shop
• 23:25
  this
• 23:25
  year,
• 23:25
  because
• 23:26
  we've
• 23:26
  got
• 23:26
  a
• 23:26
  very
• 23:27
  focused
• 23:27
  audience,
• 23:28
  we
• 23:28
  can
• 23:28
  go
• 23:29
  into
• 23:29
  a
• 23:30
  bit
• 23:30
  more
• 23:30
  detail.
• 23:31
  And
• 23:31
  we're
• 23:31
  launching
• 23:32
  something
• 23:32
  brand
• 23:32
  new.
• 23:33
  So
• 23:33
  we're
• 23:33
  launching
• 23:33
  something
• 23:33
  that
• 23:34
  we
• 23:34
  call
• 23:34
  the
• 23:34
  Test
• 23:35
  Kitchen.
• 23:35
  It's
• 23:36
  a
• 23:36
  series
• 23:36
  of
• 23:37
  smaller,
• 23:37
  practical,
• 23:38
  interactive
• 23:39
  sessions
• 23:40
  focused
• 23:40
  on
• 23:41
  specific
• 23:41
  technology
• 23:42
  use
• 23:42
  cases
• 23:43
  so
• 23:43
  you
• 23:43
  can
• 23:43
  learn
• 23:43
  from
• 23:44
  industry
• 23:44
  experts
• 23:45
  and
• 23:45
  practitioners
• 23:46
  on
• 23:46
  topics
• 23:47
  from
• 23:48
  SEO
• 23:48
  strategies
• 23:49
  in
• 23:49
  an
• 23:49
  AI
• 23:50
  world
• 23:50
  through
• 23:50
  to
• 23:50
  AI
• 23:51
  tools
• 23:51
  for
• 23:51
  forecasting
• 23:52
  and
• 23:52
  inventory
• 23:53
  management
• 23:53
  management.
• 23:53
  And
• 23:54
  we've
• 23:54
  also
• 23:54
  got
• 23:54
  some
• 23:55
  specific
• 23:55
  sessions
• 23:56
  that
• 23:56
  aren't
• 23:56
  about
• 23:56
  AI,
• 23:57
  for
• 23:57
  example,
• 23:58
  data
• 23:58
  and
• 23:58
  measurement
• 23:59
  capabilities
• 23:59
  for
• 24:00
  retail
• 24:00
  media.
• 24:01
  So
• 24:01
  renew
• 24:02
  and
• 24:02
  get
• 24:02
  into
• 24:02
  that
• 24:03
  extra
• 24:03
  level
• 24:04
  of
• 24:04
  granular
• 24:05
  detail
• 24:05
  that
• 24:06
  our
• 24:06
  attendees
• 24:07
  are
• 24:07
  requesting
• 24:07
  of
• 24:08
  us.
• 24:09
  Okay,
• 24:09
  Ben,
• 24:09
  I
• 24:10
  have
• 24:10
  to
• 24:10
  know,
• 24:10
  who
• 24:10
  are
• 24:11
  the
• 24:11
  headliners
• 24:11
  at
• 24:12
  both
• 24:12
  Grocery
• 24:13
  Shop
• 24:13
  and
• 24:13
  Shop
• 24:14
  Talk
• 24:14
  fall
• 24:15
  at
• 24:15
  4.
• 24:16
  We've
• 24:16
  got
• 24:16
  some
• 24:16
  great
• 24:17
  senior
• 24:17
  speakers,
• 24:18
  the
• 24:18
  likes
• 24:18
  of
• 24:18
  Home
• 24:18
  Depot,
• 24:19
  Amazon,
• 24:21
  Walmart,
• 24:21
  and
• 24:21
  Sam's
• 24:22
  Club,
• 24:22
  Kohl's,
• 24:23
  AliExpress,
• 24:24
  Wayfair,
• 24:25
  and
• 24:26
  then
• 24:26
  Grocery
• 24:26
  Shop.
• 24:26
  You've
• 24:27
  got
• 24:27
  that
• 24:27
  mix
• 24:27
  of
• 24:28
  retailers
• 24:28
  and
• 24:29
  CPGs.
• 24:30
  So
• 24:30
  retailers
• 24:31
  include
• 24:31
  Whole
• 24:31
  Foods,
• 24:32
  Sam's
• 24:32
  Club,
• 24:32
  Kroger,
• 24:33
  Heb,
• 24:33
  Althelez,
• 24:34
  and
• 24:34
  keynote
• 24:35
  of
• 24:35
  the
• 24:35
  CEOs
• 24:36
  of
• 24:36
  sprouts
• 24:37
  and
• 24:37
  Lidl.
• 24:37
  And
• 24:37
  I
• 24:38
  know
• 24:38
  we've
• 24:38
  got
• 24:38
  a
• 24:38
  great
• 24:38
  interviewer
• 24:39
  lined
• 24:39
  up
• 24:39
  the
• 24:39
  Sprouts
• 24:40
  keynote.
• 24:41
  And
• 24:41
  in
• 24:41
  cpgs,
• 24:42
  Miles
• 24:42
  Wrigley,
• 24:43
  Unilever,
• 24:43
  Danone,
• 24:44
  Nestle,
• 24:44
  Coco.
• 24:45
  I
• 24:45
  could
• 24:45
  go
• 24:45
  on.
• 24:45
  We've
• 24:46
  got
• 24:46
  over
• 24:46
  250
• 24:47
  fantastic
• 24:48
  speakers.
• 24:48
  Yeah,
• 24:48
  I'm
• 24:49
  really
• 24:49
  excited
• 24:49
  to
• 24:49
  interview
• 24:49
  Jack
• 24:50
  Sinclair,
• 24:50
  the
• 24:50
  CEO
• 24:50
  of
• 24:51
  Sprouts,
• 24:51
  on
• 24:51
  stage.
• 24:51
  Thanks
• 24:52
  for
• 24:52
  that
• 24:52
  opportunity
• 24:52
  too,
• 24:52
  Ben.
• 24:53
  All
• 24:53
  right,
• 24:53
  any
• 24:53
  key
• 24:54
  differences
• 24:54
  you'd
• 24:54
  like
• 24:54
  to
• 24:55
  call
• 24:55
  out
• 24:55
  compared
• 24:55
  to
• 24:55
  what
• 24:56
  people
• 24:56
  are
• 24:56
  used
• 24:56
  to
• 24:56
  seeing
• 24:57
  at
• 24:57
  both
• 24:57
  these
• 24:57
  shows?
• 24:58
  Yeah,
• 24:59
  we're
• 24:59
  always
• 24:59
  innovating
• 25:00
  and
• 25:00
  we're
• 25:00
  excited
• 25:01
  about
• 25:01
  some
• 25:01
  of
• 25:01
  the
• 25:01
  new
• 25:02
  things
• 25:02
  we're
• 25:02
  doing.
• 25:02
  The
• 25:02
  biggest
• 25:03
  change
• 25:03
  is
• 25:03
  Shop
• 25:03
  Talk
• 25:04
  Fall.
• 25:04
  So
• 25:04
  shop
• 25:05
  top
• 25:05
  four
• 25:05
  this
• 25:05
  year,
• 25:06
  Chicago
• 25:07
  17
• 25:07
  through
• 25:07
  19
• 25:08
  September.
• 25:08
  That's
• 25:09
  a
• 25:09
  Wednesday
• 25:09
  to
• 25:10
  Friday
• 25:10
  show.
• 25:10
  And
• 25:11
  we're
• 25:11
  starting
• 25:12
  the
• 25:12
  show
• 25:12
  this
• 25:12
  year
• 25:13
  to
• 25:13
  really
• 25:14
  showcase
• 25:14
  the
• 25:14
  fantastic
• 25:15
  retail
• 25:15
  in
• 25:16
  Chicago
• 25:17
  by
• 25:17
  our
• 25:17
  large
• 25:17
  table
• 25:17
  program,
• 25:18
  Shop
• 25:18
  Walk.
• 25:18
  That's
• 25:19
  our
• 25:19
  guided
• 25:20
  store
• 25:20
  visits.
• 25:21
  They're
• 25:21
  taking
• 25:21
  place
• 25:21
  on
• 25:22
  the
• 25:22
  Wednesday
• 25:22
  morning
• 25:23
  and
• 25:23
  into
• 25:23
  the
• 25:23
  early
• 25:23
  afternoon
• 25:24
  before
• 25:24
  the
• 25:24
  content
• 25:25
  and
• 25:25
  opening
• 25:25
  keynotes,
• 25:26
  then
• 25:26
  kick
• 25:26
  off
• 25:26
  on
• 25:26
  the
• 25:26
  Wednesday
• 25:27
  afternoon.
• 25:28
  That
• 25:28
  means
• 25:28
  the
• 25:28
  third
• 25:29
  is
• 25:29
  Thursday
• 25:29
  and
• 25:29
  Friday
• 25:30
  are
• 25:30
  going
• 25:30
  to
• 25:30
  be
• 25:30
  two
• 25:30
  really
• 25:31
  full
• 25:31
  days.
• 25:31
  The
• 25:32
  Friday
• 25:32
  is
• 25:32
  probably
• 25:33
  the
• 25:33
  busiest
• 25:33
  and
• 25:33
  fullest
• 25:34
  day
• 25:34
  of
• 25:34
  them.
• 25:34
  All.
• 25:34
  So
• 25:34
  when
• 25:34
  you're
• 25:35
  booking
• 25:35
  your
• 25:35
  travel,
• 25:36
  please
• 25:36
  don't
• 25:36
  book
• 25:36
  an
• 25:37
  early
• 25:37
  flight
• 25:37
  on
• 25:37
  the
• 25:37
  Friday
• 25:38
  because
• 25:38
  there'll
• 25:38
  be
• 25:39
  an
• 25:39
  awful
• 25:39
  lot
• 25:39
  going
• 25:40
  on
• 25:40
  throughout
• 25:41
  that
• 25:41
  that
• 25:41
  Friday.
• 25:42
  Grocery
• 25:43
  Shop
• 25:43
  grocery
• 25:43
  shop
• 25:44
  is
• 25:44
  the
• 25:44
  28th
• 25:44
  of
• 25:45
  September
• 25:45
  through
• 25:45
  to
• 25:45
  1st
• 25:46
  of
• 25:46
  October.
• 25:46
  That's
• 25:46
  a
• 25:47
  Sunday
• 25:47
  afternoon
• 25:48
  part
• 25:49
  with
• 25:49
  content,
• 25:49
  keynotes
• 25:50
  and
• 25:50
  the
• 25:50
  test
• 25:51
  kitchen
• 25:51
  through
• 25:52
  to
• 25:52
  a
• 25:52
  Wednesday
• 25:52
  wrap.
• 25:53
  So
• 25:53
  again,
• 25:53
  make
• 25:54
  sure
• 25:54
  you're
• 25:54
  there.
• 25:54
  There's
• 25:54
  going
• 25:55
  to
• 25:55
  be
• 25:55
  a
• 25:55
  lot
• 25:55
  of
• 25:55
  great
• 25:55
  parties
• 25:56
  and
• 25:56
  things
• 25:56
  happening
• 25:56
  on
• 25:57
  the
• 25:57
  Sunday
• 25:57
  evening.
• 25:57
  So
• 25:58
  Sunday
• 25:58
  through
• 25:58
  Wednesday
• 25:58
  for
• 25:59
  Grocery
• 25:59
  Ben.
• 26:00
  How
• 26:00
  do
• 26:00
  our
• 26:00
  listeners
• 26:01
  get
• 26:01
  tickets
• 26:01
  to
• 26:01
  both
• 26:01
  events?
• 26:02
  Yeah,
• 26:03
  look,
• 26:03
  tickets
• 26:03
  are
• 26:03
  available
• 26:04
  on
• 26:04
  the
• 26:04
  Shop
• 26:04
  Talk
• 26:04
  website
• 26:05
  now.
• 26:06
  Prices
• 26:06
  increase
• 26:07
  as
• 26:07
  availability
• 26:08
  goes
• 26:08
  down,
• 26:08
  so
• 26:09
  pays
• 26:09
  to
• 26:09
  plan
• 26:09
  and
• 26:10
  book
• 26:10
  early
• 26:11
  for
• 26:12
  your
• 26:12
  listeners
• 26:12
  who
• 26:12
  take
• 26:13
  part
• 26:13
  in
• 26:13
  our
• 26:13
  hosted
• 26:14
  program.
• 26:14
  That's
• 26:14
  the
• 26:15
  free
• 26:15
  tickets
• 26:15
  for
• 26:16
  qualifying
• 26:16
  retailers
• 26:17
  and
• 26:18
  consumer
• 26:18
  brands
• 26:19
  where
• 26:19
  we
• 26:19
  support
• 26:20
  Trav
• 26:20
  as
• 26:21
  well.
• 26:21
  The
• 26:21
  deadlines
• 26:22
  are
• 26:22
  quickly
• 26:22
  approaching,
• 26:23
  so
• 26:24
  25th
• 26:24
  of
• 26:24
  August
• 26:25
  is
• 26:25
  the
• 26:25
  hosted
• 26:26
  deadline
• 26:26
  for
• 26:26
  Shop
• 26:27
  Talk
• 26:27
  Fall
• 26:27
  and
• 26:27
  5th
• 26:28
  of
• 26:28
  September
• 26:29
  for
• 26:29
  Grocery
• 26:29
  Shop.
• 26:30
  So
• 26:30
  if
• 26:30
  you
• 26:30
  want
• 26:30
  to
• 26:30
  take
• 26:31
  part
• 26:31
  in
• 26:31
  that
• 26:31
  program,
• 26:31
  get
• 26:32
  your
• 26:32
  application
• 26:33
  in
• 26:33
  soon.
• 26:34
  But
• 26:35
  we
• 26:35
  want
• 26:35
  to
• 26:35
  support
• 26:36
  all
• 26:36
  the
• 26:36
  listeners
• 26:36
  to
• 26:37
  the
• 26:37
  podcast.
• 26:37
  So
• 26:38
  therefore
• 26:38
  we
• 26:38
  are
• 26:39
  sharing
• 26:39
  20
• 26:40
  discount
• 26:40
  links
• 26:41
  to
• 26:41
  all
• 26:41
  listeners
• 26:42
  to
• 26:42
  all
• 26:43
  Omni
• 26:43
  Top
• 26:43
  listeners.
• 26:44
  You
• 26:44
  need
• 26:44
  to
• 26:44
  use
• 26:44
  specific
• 26:45
  links
• 26:45
  for
• 26:46
  them
• 26:46
  so
• 26:46
  they're
• 26:46
  going
• 26:46
  to
• 26:47
  be
• 26:47
  in
• 26:47
  the
• 26:47
  show
• 26:47
  notes
• 26:47
  for
• 26:48
  this
• 26:48
  episode.
• 26:49
  Wow.
• 26:50
  20%
• 26:50
  off.
• 26:50
  Thanks,
• 26:51
  Ben.
• 26:51
  For
• 26:51
  those
• 26:51
  that
• 26:52
  want
• 26:52
  to
• 26:52
  hear
• 26:52
  more
• 26:52
  insights
• 26:53
  from
• 26:53
  Ben,
• 26:53
  you
• 26:53
  can
• 26:53
  tune
• 26:54
  in
• 26:54
  next
• 26:54
  week
• 26:54
  when
• 26:54
  Ben
• 26:55
  will
• 26:55
  also
• 26:55
  be
• 26:55
  guest
• 26:56
  hosting
• 26:56
  our
• 26:56
  weekly
• 26:57
  Fast
• 26:57
  five
• 26:57
  podcast.
• 26:58
  So
• 26:58
  tune
• 26:58
  in
• 26:59
  for
• 26:59
  that
• 27:01
  and
• 27:01
  retailers
• 27:01
  and
• 27:02
  brands
• 27:02
  if
• 27:02
  you
• 27:02
  want
• 27:02
  those
• 27:03
  codes.
• 27:03
  For
• 27:03
  Shop
• 27:03
  Talk
• 27:04
  fall,
• 27:04
  use
• 27:04
  code
• 27:05
  R
• 27:05
  B
• 27:05
  O
• 27:06
  m
• 27:06
  n
• 27:06
  I
• 27:07
  t
• 27:08
  20
• 27:09
  and
• 27:09
  for
• 27:09
  grocery
• 27:10
  shop,
• 27:10
  use
• 27:10
  code
• 27:11
  R
• 27:11
  B
• 27:11
  O
• 27:11
  m
• 27:12
  n
• 27:12
  I
• 27:12
  t
• 27:13
  510.
• 27:14
  And
• 27:15
  if
• 27:15
  you're
• 27:15
  a
• 27:15
  solutions
• 27:16
  provider
• 27:16
  and
• 27:16
  thinking
• 27:16
  about
• 27:17
  attending,
• 27:17
  you
• 27:17
  can
• 27:17
  also
• 27:18
  save
• 27:18
  with
• 27:18
  our
• 27:18
  codes
• 27:19
  G
• 27:19
  A
• 27:19
  O
• 27:19
  m
• 27:20
  n
• 27:20
  I
• 27:20
  t
• 27:20
  20
• 27:21
  for
• 27:21
  shop
• 27:22
  fall
• 27:22
  and
• 27:22
  G
• 27:23
  A
• 27:23
  O
• 27:23
  m
• 27:24
  n
• 27:24
  I
• 27:24
  t
• 27:25
  799
• 27:26
  for
• 27:26
  grocery
• 27:27
  shop.
• 27:27
  Links
• 27:28
  to
• 27:28
  register
• 27:29
  will
• 27:29
  also
• 27:29
  be
• 27:29
  available
• 27:30
  in
• 27:30
  the
• 27:30
  show
• 27:31
  notes.
• 27:31
  All
• 27:31
  right,
• 27:32
  headline
• 27:32
  number
• 27:32
  four.
• 27:33
  IKEA
• 27:33
  is
• 27:33
  planning
• 27:34
  to
• 27:34
  open
• 27:34
  mini
• 27:35
  showrooms
• 27:35
  inside
• 27:36
  of
• 27:36
  Best
• 27:36
  Buys.
• 27:37
  According
• 27:37
  to
• 27:38
  the
• 27:38
  Star
• 27:38
  Tribune
• 27:38
  and
• 27:39
  our
• 27:39
  friend
• 27:39
  Carson
• 27:39
  Hartsog,
• 27:41
  the
• 27:41
  Swedish
• 27:41
  home
• 27:41
  goods
• 27:42
  giant
• 27:42
  will
• 27:42
  feature
• 27:42
  kitchen
• 27:43
  and
• 27:43
  laundry
• 27:43
  products
• 27:44
  inside
• 27:44
  mini
• 27:44
  showrooms
• 27:45
  at
• 27:45
  select
• 27:46
  Best
• 27:46
  Buy
• 27:46
  locations,
• 27:47
  and
• 27:47
  the
• 27:47
  store
• 27:48
  in
• 27:48
  stores
• 27:48
  will
• 27:48
  also
• 27:49
  feature
• 27:49
  Best
• 27:49
  Buy
• 27:50
  appliances.
• 27:51
  The
• 27:51
  first
• 27:51
  10
• 27:51
  shops
• 27:52
  will
• 27:52
  launch
• 27:52
  in
• 27:52
  Florida
• 27:52
  and
• 27:53
  Texas,
• 27:53
  and
• 27:53
  the
• 27:53
  new
• 27:53
  locations
• 27:54
  will
• 27:54
  be
• 27:54
  staffed
• 27:55
  by
• 27:55
  IKEA
• 27:55
  designers
• 27:56
  and
• 27:56
  will
• 27:56
  offer
• 27:56
  consultation
• 27:57
  services.
• 27:58
  The
• 27:58
  first
• 27:58
  locations
• 27:59
  will
• 27:59
  open
• 27:59
  in
• 28:00
  the
• 28:00
  fall.
• 28:00
  Two
• 28:01
  stores
• 28:01
  will
• 28:01
  also
• 28:01
  serve
• 28:01
  as
• 28:02
  IKEA
• 28:02
  fulfillment
• 28:03
  centers,
• 28:03
  allowing
• 28:04
  customers
• 28:04
  of
• 28:04
  the
• 28:04
  home
• 28:05
  superstore
• 28:05
  to
• 28:06
  pick
• 28:06
  up
• 28:06
  their
• 28:06
  orders
• 28:06
  from
• 28:06
  a
• 28:07
  participating
• 28:08
  Best
• 28:08
  Buy
• 28:08
  location.
• 28:09
  And
• 28:09
  are
• 28:09
  you
• 28:09
  buying
• 28:10
  or
• 28:10
  selling
• 28:10
  the
• 28:10
  idea
• 28:10
  of
• 28:11
  shopping
• 28:11
  IKEA
• 28:12
  inside
• 28:12
  of
• 28:12
  a
• 28:12
  Best
• 28:13
  Buy?
• 28:14
  I'm
• 28:14
  buying
• 28:15
  the
• 28:15
  pilot.
• 28:15
  Chris.
• 28:17
  I
• 28:17
  don't
• 28:17
  know
• 28:18
  if
• 28:18
  this
• 28:18
  is
• 28:18
  going
• 28:18
  to
• 28:18
  work.
• 28:19
  Buying
• 28:19
  the
• 28:19
  pilot.
• 28:20
  What
• 28:20
  does
• 28:20
  that
• 28:20
  mean,
• 28:20
  buying
• 28:21
  the
• 28:21
  pilot?
• 28:21
  I'm
• 28:22
  buying.
• 28:22
  If
• 28:22
  I
• 28:23
  were
• 28:23
  at
• 28:23
  Best
• 28:23
  Buy
• 28:24
  making
• 28:24
  the
• 28:24
  decision,
• 28:25
  I
• 28:25
  would
• 28:25
  definitely
• 28:26
  do
• 28:26
  this
• 28:27
  pilot
• 28:27
  with
• 28:27
  Ikea.
• 28:28
  It's
• 28:28
  big.
• 28:28
  Name
• 28:29
  it.
• 28:29
  I
• 28:30
  think
• 28:30
  this,
• 28:30
  along
• 28:31
  with
• 28:31
  their
• 28:31
  marketplace
• 28:32
  announcement
• 28:33
  with
• 28:33
  Miracle
• 28:33
  yesterday
• 28:34
  were
• 28:35
  absolutely
• 28:36
  necessary
• 28:36
  things,
• 28:37
  things
• 28:37
  that
• 28:37
  Best
• 28:37
  Buy
• 28:38
  needs
• 28:38
  to
• 28:38
  do
• 28:38
  to
• 28:39
  stay
• 28:39
  relevant
• 28:39
  right
• 28:39
  now
• 28:40
  to
• 28:40
  today's
• 28:40
  consumer.
• 28:41
  But
• 28:42
  back
• 28:42
  to
• 28:42
  the
• 28:42
  IKEA
• 28:43
  pilot.
• 28:44
  You
• 28:44
  know,
• 28:45
  I
• 28:45
  love
• 28:45
  this
• 28:46
  for
• 28:46
  the
• 28:46
  kitchen
• 28:47
  component.
• 28:48
  I,
• 28:49
  I
• 28:49
  want
• 28:49
  to
• 28:50
  know
• 28:50
  where
• 28:51
  else
• 28:51
  you
• 28:51
  can
• 28:51
  go
• 28:52
  when
• 28:52
  you're
• 28:52
  remodeling
• 28:53
  your
• 28:53
  kitchen.
• 28:53
  Where
• 28:54
  else
• 28:54
  can
• 28:54
  you
• 28:54
  go
• 28:54
  to
• 28:55
  get
• 28:55
  all
• 28:55
  of
• 28:55
  your
• 28:55
  appliances
• 28:56
  and
• 28:56
  a
• 28:56
  good
• 28:57
  range
• 28:57
  of
• 28:57
  prices
• 28:58
  on
• 28:58
  appliances,
• 28:59
  from
• 29:00
  like
• 29:00
  early
• 29:01
  basic
• 29:01
  appliances
• 29:02
  all
• 29:02
  the
• 29:02
  way
• 29:02
  up
• 29:03
  to
• 29:03
  your
• 29:03
  high
• 29:03
  quality
• 29:05
  appliances
• 29:06
  in
• 29:06
  one
• 29:06
  place
• 29:07
  and
• 29:07
  get
• 29:08
  the
• 29:08
  cabinets
• 29:08
  and
• 29:09
  get
• 29:09
  the
• 29:09
  whole
• 29:10
  thing
• 29:10
  planned
• 29:10
  like
• 29:11
  Home
• 29:12
  Depot
• 29:12
  and
• 29:12
  Lowe's.
• 29:12
  For
• 29:12
  that,
• 29:13
  though,
• 29:13
  Ann,
• 29:13
  I
• 29:13
  thought
• 29:13
  you.
• 29:14
  Could
• 29:14
  go
• 29:14
  to
• 29:14
  Home
• 29:15
  Depots
• 29:15
  and
• 29:15
  Lowe's,
• 29:16
  but
• 29:16
  you
• 29:17
  don't
• 29:17
  have
• 29:17
  the
• 29:18
  selection
• 29:18
  and
• 29:19
  the
• 29:19
  trend
• 29:20
  and
• 29:20
  the
• 29:20
  design
• 29:21
  there
• 29:21
  that
• 29:22
  IKEA
• 29:22
  brings.
• 29:23
  So,
• 29:23
  yes,
• 29:23
  you
• 29:23
  could
• 29:23
  go
• 29:24
  to
• 29:24
  Home
• 29:24
  Depot
• 29:24
  on
• 29:24
  those.
• 29:24
  But
• 29:25
  I
• 29:25
  really
• 29:25
  do
• 29:25
  think
• 29:26
  that
• 29:26
  Best
• 29:26
  Buy
• 29:26
  is
• 29:27
  a
• 29:27
  good
• 29:28
  place
• 29:28
  where
• 29:28
  you
• 29:28
  can
• 29:28
  get
• 29:29
  both
• 29:29
  things.
• 29:30
  Home
• 29:30
  Depot
• 29:31
  and
• 29:31
  Lowe's.
• 29:31
  There's
• 29:31
  like
• 29:32
  a
• 29:32
  couple
• 29:32
  of
• 29:32
  options.
• 29:33
  It's
• 29:33
  not
• 29:34
  like
• 29:34
  new
• 29:34
  fresh,
• 29:35
  especially
• 29:35
  if
• 29:35
  you
• 29:35
  want
• 29:36
  a
• 29:36
  modern.
• 29:36
  Like
• 29:37
  you're
• 29:37
  appealing
• 29:38
  to
• 29:38
  this
• 29:38
  younger
• 29:38
  consumer
• 29:39
  that
• 29:39
  knows
• 29:40
  Ikea
• 29:40
  that
• 29:41
  is
• 29:41
  more
• 29:41
  comfortable
• 29:42
  going
• 29:42
  with
• 29:42
  an
• 29:43
  IKEA
• 29:44
  cabinet
• 29:44
  set
• 29:44
  to
• 29:45
  outfit
• 29:45
  my
• 29:45
  kitchen.
• 29:46
  Like,
• 29:46
  that's,
• 29:47
  that's
• 29:47
  something
• 29:47
  that
• 29:47
  I
• 29:48
  would
• 29:48
  do.
• 29:49
  Are,
• 29:49
  is
• 29:49
  the
• 29:49
  boomer
• 29:50
  generation
• 29:50
  going
• 29:51
  to
• 29:51
  do
• 29:51
  that?
• 29:51
  No,
• 29:51
  they're
• 29:51
  going
• 29:52
  to
• 29:52
  go
• 29:52
  to
• 29:52
  Home
• 29:52
  Depot
• 29:52
  and
• 29:52
  they're
• 29:53
  going
• 29:53
  to
• 29:53
  go
• 29:53
  to
• 29:53
  Lowe's
• 29:53
  to
• 29:53
  do
• 29:54
  that.
• 29:54
  But
• 29:54
  I
• 29:54
  really
• 29:55
  think
• 29:55
  that
• 29:55
  that's,
• 29:55
  that's
• 29:56
  where
• 29:56
  if
• 29:56
  I'm,
• 29:57
  if
• 29:57
  I'm
• 29:57
  really
• 29:57
  playing
• 29:58
  the
• 29:59
  odds
• 29:59
  that
• 29:59
  Best
• 30:00
  Buy
• 30:00
  is
• 30:00
  going
• 30:00
  to
• 30:00
  stay
• 30:01
  this
• 30:01
  relevant
• 30:02
  retailer,
• 30:02
  I
• 30:02
  think
• 30:02
  this
• 30:03
  is
• 30:03
  a
• 30:03
  worthwhile
• 30:04
  test.
• 30:04
  I
• 30:05
  have
• 30:05
  a
• 30:05
  little
• 30:05
  bit
• 30:05
  of
• 30:05
  a
• 30:05
  harder
• 30:06
  time
• 30:06
  buying
• 30:06
  this
• 30:06
  in
• 30:07
  the
• 30:07
  laundry
• 30:07
  category
• 30:08
  because
• 30:08
  I
• 30:08
  don't
• 30:09
  know
• 30:09
  many
• 30:09
  friends
• 30:09
  of
• 30:09
  mine
• 30:10
  that
• 30:10
  are
• 30:10
  like,
• 30:10
  I
• 30:10
  am
• 30:11
  dying
• 30:11
  to
• 30:11
  show
• 30:11
  you
• 30:12
  my
• 30:12
  new
• 30:12
  laundry
• 30:13
  room
• 30:13
  remodel.
• 30:14
  I
• 30:14
  think
• 30:14
  the
• 30:15
  kitchen
• 30:15
  could
• 30:15
  be
• 30:15
  really
• 30:16
  clutch
• 30:16
  because
• 30:16
  I
• 30:16
  think
• 30:17
  that's
• 30:17
  an
• 30:17
  area
• 30:17
  where
• 30:17
  people
• 30:17
  are
• 30:18
  really
• 30:18
  starting
• 30:18
  to
• 30:18
  invest
• 30:19
  and
• 30:19
  especially
• 30:19
  right
• 30:20
  now
• 30:20
  with
• 30:20
  where
• 30:20
  the
• 30:21
  economy
• 30:21
  is,
• 30:21
  I
• 30:21
  think
• 30:22
  think
• 30:22
  this
• 30:22
  is
• 30:22
  like
• 30:23
  a
• 30:23
  good,
• 30:23
  high,
• 30:24
  low
• 30:24
  option
• 30:25
  for
• 30:25
  people
• 30:26
  looking
• 30:26
  to
• 30:27
  redo
• 30:27
  their
• 30:27
  kitchens.
• 30:27
  But
• 30:28
  you
• 30:28
  are
• 30:29
  definitely
• 30:29
  not
• 30:30
  in
• 30:30
  agreement.
• 30:30
  I
• 30:30
  can
• 30:31
  tell
• 30:31
  by.
• 30:31
  Wow.
• 30:32
  No,
• 30:32
  I
• 30:32
  I
• 30:33
  think
• 30:33
  you're
• 30:33
  overestimating
• 30:34
  the
• 30:34
  amount
• 30:34
  of
• 30:34
  product
• 30:35
  and,
• 30:35
  and
• 30:36
  design
• 30:36
  IKEA
• 30:37
  can
• 30:37
  showcase
• 30:38
  in
• 30:38
  a
• 30:38
  small
• 30:39
  shop
• 30:39
  and
• 30:39
  shop
• 30:39
  inside
• 30:40
  of
• 30:40
  a
• 30:40
  Best
• 30:40
  Buy
• 30:40
  too,
• 30:41
  at
• 30:41
  least
• 30:41
  from
• 30:41
  the
• 30:41
  pictures
• 30:41
  I'm
• 30:42
  looking
• 30:42
  at.
• 30:42
  Oh,
• 30:43
  yeah,
• 30:43
  I
• 30:43
  don't,
• 30:43
  I'm
• 30:44
  not
• 30:44
  saying
• 30:44
  that
• 30:44
  they're
• 30:44
  going
• 30:44
  to
• 30:45
  be
• 30:45
  able
• 30:45
  to
• 30:45
  do
• 30:45
  that
• 30:45
  all
• 30:46
  in
• 30:46
  the
• 30:46
  store,
• 30:46
  but
• 30:46
  I
• 30:47
  think
• 30:47
  that
• 30:47
  from
• 30:47
  a
• 30:48
  person,
• 30:48
  from
• 30:48
  the
• 30:48
  perspective
• 30:49
  of
• 30:49
  being
• 30:49
  able
• 30:49
  to
• 30:50
  like,
• 30:50
  sit
• 30:50
  down
• 30:51
  with
• 30:51
  an
• 30:51
  IKEA
• 30:51
  advisor
• 30:52
  and
• 30:52
  be
• 30:52
  like,
• 30:52
  you
• 30:53
  could
• 30:53
  do
• 30:53
  these
• 30:53
  cabinets
• 30:54
  in
• 30:54
  green,
• 30:54
  in
• 30:55
  navy
• 30:55
  and
• 30:55
  whatever,
• 30:56
  like,
• 30:56
  I
• 30:56
  think
• 30:57
  that
• 30:57
  that
• 30:57
  could
• 30:57
  be
• 30:57
  a
• 30:58
  better
• 30:58
  experience.
• 30:59
  But
• 30:59
  what,
• 31:00
  what
• 31:00
  am
• 31:00
  I
• 31:00
  missing?
• 31:01
  Just
• 31:01
  go
• 31:01
  to
• 31:02
  IKEA
• 31:02
  to
• 31:02
  begin
• 31:02
  with
• 31:02
  is
• 31:03
  my
• 31:03
  point.
• 31:03
  But
• 31:03
  I
• 31:03
  mean,
• 31:04
  I
• 31:04
  mean,
• 31:04
  here's
• 31:05
  what
• 31:05
  I
• 31:05
  think
• 31:05
  you're
• 31:05
  missing.
• 31:05
  I
• 31:05
  think
• 31:06
  with
• 31:06
  all
• 31:06
  due
• 31:06
  respect
• 31:06
  to
• 31:06
  Rob
• 31:07
  Olson,
• 31:07
  ikea,
• 31:07
  who
• 31:08
  I've
• 31:08
  met,
• 31:08
  and
• 31:08
  I
• 31:08
  like
• 31:09
  him
• 31:09
  a
• 31:09
  lot,
• 31:09
  he's
• 31:09
  a
• 31:09
  good
• 31:09
  dude
• 31:10
  too.
• 31:10
  And
• 31:11
  all
• 31:11
  of
• 31:11
  our
• 31:11
  friends
• 31:11
  over
• 31:11
  at
• 31:12
  Best
• 31:12
  Buy,
• 31:12
  I.
• 31:13
  You're
• 31:13
  right.
• 31:13
  I
• 31:14
  just
• 31:14
  don't
• 31:14
  like
• 31:14
  this
• 31:14
  idea
• 31:14
  at
• 31:15
  all.
• 31:15
  I
• 31:15
  get
• 31:15
  it
• 31:15
  on
• 31:15
  paper.
• 31:16
  I
• 31:16
  mean,
• 31:17
  it
• 31:17
  sounds
• 31:17
  smart
• 31:17
  on
• 31:18
  paper.
• 31:18
  Like
• 31:18
  best.
• 31:19
  Best
• 31:19
  Buy
• 31:19
  stores
• 31:20
  are
• 31:20
  probably
• 31:20
  larger
• 31:21
  than
• 31:21
  they
• 31:21
  need
• 31:21
  to
• 31:21
  be
• 31:22
  at
• 31:22
  this
• 31:22
  point,
• 31:22
  given
• 31:22
  all
• 31:23
  the
• 31:23
  electronics
• 31:23
  categories
• 31:24
  and
• 31:24
  video
• 31:24
  games
• 31:25
  categories
• 31:25
  that
• 31:25
  are
• 31:25
  all
• 31:25
  moving
• 31:26
  online.
• 31:26
  IKEA
• 31:27
  has
• 31:27
  tried
• 31:27
  to
• 31:27
  get
• 31:27
  a
• 31:28
  smaller
• 31:28
  store
• 31:28
  concept
• 31:29
  off
• 31:29
  the
• 31:29
  ground.
• 31:29
  They
• 31:29
  haven't
• 31:30
  been
• 31:30
  able
• 31:30
  to
• 31:30
  have
• 31:30
  success
• 31:31
  with
• 31:31
  that
• 31:31
  here
• 31:31
  in
• 31:31
  the
• 31:31
  United
• 31:32
  States.
• 31:32
  Appliances
• 31:33
  and
• 31:33
  home
• 31:33
  furnishings
• 31:34
  kind
• 31:34
  of
• 31:34
  go
• 31:35
  together.
• 31:35
  So
• 31:35
  let's
• 31:36
  partner
• 31:36
  up.
• 31:36
  Yay.
• 31:37
  But
• 31:37
  it's,
• 31:38
  that's
• 31:38
  not
• 31:38
  going
• 31:38
  to
• 31:38
  work
• 31:39
  because
• 31:39
  it
• 31:40
  isn't
• 31:40
  the
• 31:40
  core
• 31:41
  experience
• 31:41
  of
• 31:41
  why
• 31:41
  I
• 31:42
  go
• 31:42
  to
• 31:42
  ikea.
• 31:42
  You
• 31:43
  kind
• 31:43
  of
• 31:43
  just
• 31:43
  said
• 31:43
  it.
• 31:43
  There's,
• 31:44
  I
• 31:44
  need
• 31:44
  to
• 31:44
  get
• 31:45
  a
• 31:45
  lot
• 31:45
  of
• 31:45
  stuff
• 31:46
  done,
• 31:46
  I
• 31:46
  need
• 31:47
  help.
• 31:47
  I
• 31:47
  need
• 31:47
  to
• 31:47
  do
• 31:48
  that
• 31:48
  so
• 31:48
  I
• 31:49
  can
• 31:49
  get
• 31:49
  it
• 31:49
  all
• 31:49
  done
• 31:49
  at
• 31:50
  one
• 31:50
  time
• 31:50
  when
• 31:50
  I
• 31:50
  go
• 31:50
  to
• 31:50
  ikea.
• 31:51
  In
• 31:52
  fact,
• 31:52
  this
• 31:52
  setup
• 31:52
  probably
• 31:53
  induces
• 31:53
  more
• 31:53
  friction
• 31:54
  for
• 31:54
  me
• 31:54
  and
• 31:55
  I'm
• 31:55
  going
• 31:55
  to
• 31:55
  ultimately
• 31:56
  end
• 31:56
  up
• 31:56
  back
• 31:56
  in
• 31:56
  Ikea
• 31:57
  anyway.
• 31:58
  To
• 31:58
  your
• 31:58
  point,
• 31:58
  I
• 31:59
  mean,
• 31:59
  you
• 31:59
  kind
• 31:59
  of
• 31:59
  said
• 32:00
  that
• 32:00
  in
• 32:00
  what
• 32:00
  you
• 32:01
  said.
• 32:01
  So.
• 32:01
  So
• 32:02
  Net,
• 32:02
  Net,
• 32:02
  it
• 32:02
  feels
• 32:03
  like
• 32:03
  a
• 32:03
  very
• 32:03
  expensive,
• 32:04
  over
• 32:05
  engineered
• 32:05
  branding
• 32:06
  exercise
• 32:06
  to
• 32:06
  me
• 32:06
  at
• 32:06
  best,
• 32:07
  when
• 32:07
  money
• 32:07
  could
• 32:07
  be
• 32:08
  better
• 32:08
  spent
• 32:09
  just
• 32:09
  getting
• 32:09
  people
• 32:09
  to
• 32:10
  interact
• 32:10
  with
• 32:10
  ikea,
• 32:11
  either
• 32:11
  online
• 32:12
  or
• 32:12
  actually
• 32:12
  in
• 32:13
  IKEA
• 32:13
  stores.
• 32:14
  So.
• 32:14
  So,
• 32:15
  I
• 32:15
  mean,
• 32:15
  Best
• 32:15
  Buy,
• 32:16
  I
• 32:16
  don't
• 32:16
  think
• 32:16
  Best
• 32:16
  Buy
• 32:16
  has
• 32:16
  that
• 32:17
  much
• 32:17
  to
• 32:17
  lose
• 32:17
  on
• 32:17
  this,
• 32:17
  but
• 32:17
  ikea,
• 32:18
  it
• 32:18
  seems
• 32:18
  like
• 32:18
  a
• 32:18
  waste
• 32:18
  of
• 32:19
  time
• 32:19
  for
• 32:19
  me.
• 32:19
  Oh,
• 32:19
  man,
• 32:20
  I
• 32:20
  don't
• 32:20
  think
• 32:20
  so.
• 32:21
  I
• 32:21
  think,
• 32:21
  I
• 32:21
  think,
• 32:21
  I
• 32:22
  think
• 32:22
  the
• 32:22
  IKEA
• 32:22
  trip
• 32:23
  has
• 32:23
  changed
• 32:24
  considerably
• 32:25
  in
• 32:25
  term,
• 32:26
  especially
• 32:26
  in
• 32:26
  the
• 32:27
  kitchen
• 32:27
  category.
• 32:27
  I
• 32:28
  do,
• 32:28
  I
• 32:28
  mean
• 32:29
  anecdotally
• 32:30
  from
• 32:30
  people
• 32:30
  that,
• 32:31
  who
• 32:31
  I
• 32:32
  have
• 32:33
  friends
• 32:33
  of
• 32:33
  mine
• 32:33
  and
• 32:34
  People
• 32:34
  who
• 32:34
  have
• 32:34
  recently
• 32:35
  remodeled
• 32:35
  their
• 32:35
  houses.
• 32:36
  Like,
• 32:36
  I'm
• 32:36
  surprised
• 32:37
  at
• 32:37
  the
• 32:37
  number
• 32:37
  of
• 32:37
  people
• 32:38
  who
• 32:38
  are
• 32:38
  like,
• 32:38
  these
• 32:38
  are,
• 32:38
  these
• 32:39
  cabinets
• 32:39
  are
• 32:39
  from
• 32:39
  Ikea.
• 32:40
  We
• 32:40
  did
• 32:41
  this
• 32:41
  whole
• 32:41
  kitchen
• 32:42
  because
• 32:42
  our
• 32:42
  budget
• 32:42
  was
• 32:43
  X
• 32:43
  and
• 32:43
  appliances
• 32:44
  cost
• 32:44
  more
• 32:45
  because
• 32:45
  of
• 32:45
  tariffs
• 32:46
  and
• 32:46
  all
• 32:46
  the
• 32:46
  other
• 32:46
  things
• 32:47
  cost
• 32:47
  more
• 32:47
  like
• 32:47
  the,
• 32:48
  the
• 32:48
  construction
• 32:49
  costs
• 32:49
  more.
• 32:50
  This
• 32:50
  is
• 32:50
  a
• 32:50
  way
• 32:50
  to
• 32:50
  save
• 32:51
  money.
• 32:51
  And
• 32:51
  so
• 32:51
  I
• 32:51
  think
• 32:52
  for
• 32:52
  this
• 32:52
  specific
• 32:53
  category,
• 32:53
  it
• 32:53
  is
• 32:53
  a
• 32:54
  one
• 32:54
  stop
• 32:54
  shop.
• 32:55
  And.
• 32:55
  And
• 32:56
  we'll
• 32:56
  see
• 32:56
  how
• 32:56
  it
• 32:56
  plays
• 32:57
  out.
• 32:57
  I'm
• 32:57
  excited
• 32:57
  to
• 32:57
  continue
• 32:58
  to
• 32:58
  follow
• 32:58
  it.
• 32:59
  Interesting.
• 32:59
  Yeah,
• 32:59
  we'll
• 32:59
  agree
• 33:00
  to
• 33:00
  disagree
• 33:00
  on
• 33:00
  this
• 33:00
  one.
• 33:01
  All
• 33:01
  right,
• 33:01
  headline
• 33:02
  number
• 33:02
  five.
• 33:02
  We
• 33:03
  saved
• 33:03
  it
• 33:03
  to
• 33:03
  the
• 33:03
  end,
• 33:03
  folks.
• 33:04
  But
• 33:04
  this
• 33:04
  is
• 33:04
  Ed's
• 33:05
  headline.
• 33:05
  I'm
• 33:06
  just
• 33:06
  super
• 33:06
  excited
• 33:07
  about
• 33:07
  it.
• 33:08
  Yes.
• 33:08
  All
• 33:08
  right,
• 33:08
  let's
• 33:08
  go
• 33:09
  to
• 33:09
  headline
• 33:09
  number
• 33:09
  five.
• 33:10
  Ulta
• 33:10
  and
• 33:10
  Target
• 33:11
  are
• 33:11
  planning
• 33:11
  to
• 33:12
  conclude
• 33:12
  their
• 33:12
  shop
• 33:13
  and
• 33:13
  shop
• 33:13
  partnership
• 33:14
  in
• 33:14
  2026.
• 33:15
  Chris.
• 33:15
  Just
• 33:16
  can't
• 33:16
  wait
• 33:16
  to
• 33:16
  get
• 33:16
  to
• 33:16
  it.
• 33:17
  According
• 33:17
  to
• 33:17
  the
• 33:18
  Path
• 33:18
  to
• 33:18
  Purchase
• 33:18
  Institute,
• 33:19
  Ulta
• 33:19
  Beauty
• 33:20
  and
• 33:20
  Target
• 33:20
  have
• 33:20
  announced
• 33:21
  that
• 33:21
  their
• 33:21
  shop
• 33:21
  and
• 33:21
  shop
• 33:22
  partnership,
• 33:22
  Ulta
• 33:23
  Beauty
• 33:23
  at
• 33:23
  Target,
• 33:23
  will
• 33:23
  conclude
• 33:24
  when
• 33:24
  the
• 33:24
  current
• 33:24
  agreement
• 33:25
  ends
• 33:25
  in
• 33:26
  August
• 33:26
  of
• 33:26
  2026.
• 33:27
  Until
• 33:28
  then,
• 33:28
  the
• 33:28
  experience
• 33:28
  will
• 33:29
  continue
• 33:29
  in
• 33:29
  stores
• 33:30
  and
• 33:30
  online
• 33:30
  with
• 33:31
  Ulta
• 33:31
  Beauty
• 33:31
  Rewards
• 33:32
  remaining
• 33:32
  active
• 33:33
  for
• 33:33
  eligible
• 33:33
  purchases.
• 33:34
  Both
• 33:34
  companies
• 33:35
  emphasize
• 33:35
  that
• 33:35
  they
• 33:36
  will
• 33:36
  continue
• 33:36
  to
• 33:36
  maintain
• 33:37
  product
• 33:37
  availability
• 33:38
  and
• 33:38
  a
• 33:38
  seamless
• 33:38
  shopping
• 33:39
  experience
• 33:39
  until
• 33:40
  the
• 33:40
  partnership
• 33:40
  officially
• 33:41
  ends.
• 33:41
  Don't
• 33:42
  think
• 33:42
  it'd
• 33:42
  be
• 33:42
  funny
• 33:42
  if
• 33:42
  they're
• 33:43
  just
• 33:43
  like,
• 33:43
  we're
• 33:43
  just
• 33:44
  going
• 33:44
  to
• 33:44
  give
• 33:44
  up?
• 33:44
  Like,
• 33:45
  yes,
• 33:45
  of
• 33:45
  course.
• 33:45
  You
• 33:46
  have
• 33:46
  to
• 33:46
  maintain
• 33:46
  this
• 33:46
  to
• 33:46
  them.
• 33:47
  I
• 33:47
  wish,
• 33:47
  I
• 33:47
  actually
• 33:47
  wish
• 33:48
  they
• 33:48
  would
• 33:48
  just
• 33:48
  say
• 33:48
  that.
• 33:48
  Yeah,
• 33:50
  I
• 33:50
  know.
• 33:50
  All
• 33:51
  right,
• 33:51
  well,
• 33:51
  Chris,
• 33:52
  this
• 33:52
  also
• 33:52
  happens
• 33:53
  to
• 33:53
  be
• 33:53
  the
• 33:53
  A
• 33:53
  and
• 33:54
  M
• 33:54
  put
• 33:54
  you
• 33:54
  on
• 33:54
  the
• 33:54
  spot
• 33:55
  question
• 33:55
  of
• 33:55
  the
• 33:55
  week.
• 33:55
  Oh,
• 33:56
  all
• 33:56
  right.
• 33:56
  They
• 33:57
  want
• 33:57
  to
• 33:57
  know,
• 33:58
  Chris,
• 33:58
  given
• 33:58
  the
• 33:58
  resilience
• 33:59
  of
• 33:59
  the
• 33:59
  beauty
• 34:00
  segment
• 34:00
  in
• 34:00
  retail
• 34:00
  and
• 34:01
  targets
• 34:01
  challenges,
• 34:02
  does
• 34:02
  the
• 34:02
  end
• 34:02
  of
• 34:02
  this
• 34:03
  partnership
• 34:03
  more
• 34:03
  strongly
• 34:04
  signal
• 34:04
  how
• 34:04
  retailers
• 34:05
  should
• 34:05
  refocus
• 34:06
  on
• 34:06
  their
• 34:07
  standalone
• 34:07
  retail
• 34:08
  experience
• 34:09
  over
• 34:09
  a
• 34:09
  store
• 34:10
  and
• 34:10
  store,
• 34:10
  or
• 34:11
  does
• 34:11
  it
• 34:11
  signal
• 34:12
  just
• 34:12
  how
• 34:12
  deep
• 34:13
  Target
• 34:13
  struggles
• 34:14
  go?
• 34:15
  Oh
• 34:15
  man,
• 34:17
  that
• 34:17
  is
• 34:17
  such
• 34:17
  a
• 34:18
  good
• 34:18
  question.
• 34:18
  That
• 34:18
  actually
• 34:19
  may
• 34:19
  be
• 34:19
  my,
• 34:20
  my
• 34:20
  all
• 34:20
  time
• 34:21
  favorite
• 34:21
  put
• 34:21
  you
• 34:21
  on
• 34:22
  the
• 34:22
  spot
• 34:22
  question,
• 34:23
  like
• 34:23
  without
• 34:23
  a
• 34:23
  doubt.
• 34:24
  Because
• 34:24
  I
• 34:25
  think
• 34:25
  the
• 34:25
  answer
• 34:25
  is
• 34:25
  it.
• 34:26
  It
• 34:26
  signals
• 34:26
  both,
• 34:27
  quite
• 34:27
  frankly.
• 34:27
  And
• 34:28
  it
• 34:28
  also
• 34:28
  helps
• 34:29
  explain
• 34:29
  why
• 34:30
  Target
• 34:30
  stock
• 34:30
  took
• 34:31
  took
• 34:31
  a
• 34:31
  major
• 34:31
  dip
• 34:32
  today
• 34:32
  with
• 34:32
  the
• 34:32
  new
• 34:32
  CEO
• 34:33
  announcement.
• 34:34
  You
• 34:34
  know,
• 34:35
  if
• 34:35
  I
• 34:35
  look
• 34:36
  back
• 34:36
  on
• 34:36
  this
• 34:36
  headline,
• 34:37
  let's
• 34:37
  just
• 34:37
  keep
• 34:37
  it
• 34:38
  on
• 34:38
  the
• 34:38
  headline.
• 34:38
  Yep,
• 34:39
  Target
• 34:39
  appears
• 34:40
  to
• 34:40
  have
• 34:40
  crapped
• 34:40
  the
• 34:40
  bet
• 34:40
  on
• 34:41
  this
• 34:41
  one.
• 34:42
  And
• 34:42
  Lord
• 34:42
  knows
• 34:43
  the
• 34:43
  reasons
• 34:43
  why
• 34:43
  Ulta
• 34:44
  is
• 34:44
  pulling
• 34:44
  out.
• 34:44
  You
• 34:45
  know,
• 34:45
  but
• 34:46
  it
• 34:46
  is
• 34:46
  a
• 34:46
  big,
• 34:46
  big
• 34:47
  about
• 34:47
  face
• 34:48
  and
• 34:48
  it's
• 34:48
  an
• 34:48
  about
• 34:48
  face
• 34:49
  that's
• 34:49
  happened
• 34:49
  rather
• 34:50
  quickly.
• 34:50
  Was
• 34:50
  it
• 34:50
  operations?
• 34:52
  Was
• 34:52
  it
• 34:52
  the
• 34:52
  brand
• 34:52
  standards
• 34:53
  who
• 34:54
  knows?
• 34:54
  Time
• 34:55
  will
• 34:55
  tell.
• 34:55
  We'll
• 34:55
  probably
• 34:56
  get
• 34:56
  answers
• 34:56
  to
• 34:56
  that
• 34:56
  over
• 34:57
  time.
• 34:57
  But
• 34:57
  now
• 34:58
  Target
• 34:58
  is
• 34:59
  faced
• 34:59
  with
• 34:59
  a
• 34:59
  really
• 34:59
  tough
• 35:00
  situation.
• 35:00
  It
• 35:00
  has
• 35:00
  to
• 35:01
  comp
• 35:01
  against
• 35:01
  the
• 35:02
  loss
• 35:02
  of
• 35:02
  what
• 35:03
  has
• 35:03
  been
• 35:03
  publicly
• 35:04
  stated
• 35:04
  as
• 35:04
  one
• 35:04
  of
• 35:05
  its
• 35:05
  biggest
• 35:05
  comp
• 35:05
  drivers
• 35:06
  ever
• 35:07
  since
• 35:07
  the
• 35:07
  partnership
• 35:08
  started.
• 35:08
  At
• 35:08
  least
• 35:09
  that
• 35:09
  is
• 35:09
  my
• 35:09
  recollection
• 35:10
  of
• 35:10
  reading
• 35:10
  the
• 35:11
  recent
• 35:11
  earnings
• 35:11
  reports
• 35:12
  for
• 35:12
  the
• 35:12
  last
• 35:12
  two
• 35:12
  years.
• 35:13
  It's
• 35:13
  every
• 35:13
  call,
• 35:14
  it's
• 35:14
  been
• 35:14
  part
• 35:14
  of
• 35:14
  every
• 35:15
  earnings
• 35:15
  call,
• 35:15
  right?
• 35:15
  It
• 35:16
  has,
• 35:16
  right.
• 35:16
  I'm
• 35:16
  not
• 35:16
  making
• 35:17
  that
• 35:17
  up,
• 35:17
  right?
• 35:17
  No.
• 35:18
  So
• 35:18
  all
• 35:18
  of
• 35:18
  which
• 35:18
  goes
• 35:19
  back
• 35:19
  to
• 35:19
  the
• 35:19
  broader
• 35:20
  question
• 35:20
  now
• 35:20
  of
• 35:20
  shop
• 35:21
  and
• 35:21
  shops,
• 35:21
  which
• 35:21
  A
• 35:21
  and
• 35:21
  M
• 35:22
  smartly
• 35:22
  is
• 35:22
  asking.
• 35:23
  You
• 35:24
  have
• 35:24
  to
• 35:24
  tread
• 35:24
  carefully
• 35:25
  into
• 35:25
  them
• 35:25
  and
• 35:25
  you
• 35:26
  have
• 35:26
  to
• 35:26
  ask
• 35:26
  yourself
• 35:27
  the
• 35:27
  question,
• 35:28
  are
• 35:28
  you
• 35:28
  a
• 35:28
  mall
• 35:29
  or
• 35:29
  are
• 35:29
  you
• 35:29
  a
• 35:30
  retailer?
• 35:30
  Under
• 35:31
  Brian
• 35:31
  Cornell,
• 35:32
  Target
• 35:32
  has
• 35:32
  overtly
• 35:33
  tried
• 35:33
  to
• 35:34
  become
• 35:34
  or
• 35:34
  under
• 35:34
  Brian
• 35:35
  Cornell,
• 35:36
  I
• 35:36
  have
• 35:36
  to
• 35:36
  say
• 35:36
  in
• 35:36
  the
• 35:36
  past
• 35:37
  tense
• 35:37
  now,
• 35:37
  Target
• 35:38
  overtly
• 35:39
  tried
• 35:39
  to
• 35:39
  become
• 35:40
  a
• 35:40
  mall
• 35:41
  and
• 35:41
  the
• 35:41
  next
• 35:41
  place
• 35:41
  it's
• 35:42
  going
• 35:42
  to
• 35:42
  bite
• 35:42
  them
• 35:43
  in
• 35:43
  the
• 35:43
  rear
• 35:44
  is
• 35:44
  with
• 35:44
  the
• 35:44
  CVS
• 35:45
  partnership.
• 35:46
  Because
• 35:47
  food
• 35:48
  is
• 35:48
  medicine
• 35:48
  is
• 35:49
  the
• 35:49
  biggest
• 35:49
  trend
• 35:49
  that's
• 35:50
  going
• 35:50
  to
• 35:50
  shape
• 35:50
  grocery
• 35:51
  over
• 35:51
  the
• 35:51
  next
• 35:51
  10
• 35:51
  years
• 35:52
  and
• 35:52
  even
• 35:52
  longer.
• 35:53
  And
• 35:53
  Target
• 35:53
  gave
• 35:54
  away
• 35:54
  the
• 35:54
  RX
• 35:55
  tie
• 35:55
  ins
• 35:55
  to
• 35:55
  that
• 35:56
  trend.
• 35:57
  The
• 35:57
  impacts
• 35:57
  of
• 35:57
  that
• 35:57
  aren't
• 35:58
  felt
• 35:58
  yet
• 35:58
  either,
• 35:58
  but
• 35:59
  they
• 35:59
  soon
• 35:59
  are
• 35:59
  going
• 36:00
  to
• 36:00
  be
• 36:00
  as
• 36:00
  Walmart
• 36:01
  and
• 36:01
  other
• 36:01
  grocers
• 36:01
  get
• 36:02
  smarter
• 36:02
  on
• 36:02
  how
• 36:03
  to
• 36:03
  tailor
• 36:03
  their
• 36:03
  assortments
• 36:04
  and
• 36:04
  their
• 36:05
  RX
• 36:05
  loyalty
• 36:05
  reward
• 36:06
  programs
• 36:06
  to
• 36:07
  capitalize
• 36:07
  on
• 36:07
  that
• 36:07
  trend
• 36:08
  where
• 36:08
  Target's
• 36:08
  going
• 36:08
  to
• 36:09
  be
• 36:09
  hamstring,
• 36:09
  they're
• 36:09
  going
• 36:09
  to
• 36:09
  be
• 36:09
  having
• 36:10
  to
• 36:10
  work
• 36:10
  through
• 36:10
  CVS
• 36:11
  with
• 36:11
  that.
• 36:11
  That's
• 36:12
  going
• 36:12
  to
• 36:12
  be
• 36:12
  impossible.
• 36:13
  So
• 36:14
  that's
• 36:14
  going
• 36:14
  to
• 36:14
  mean
• 36:14
  less
• 36:15
  and
• 36:15
  less
• 36:15
  traffic
• 36:15
  to
• 36:16
  Target
• 36:16
  in
• 36:16
  the
• 36:16
  years
• 36:17
  to
• 36:17
  come.
• 36:18
  So
• 36:18
  yet
• 36:18
  it's
• 36:19
  yet
• 36:19
  another
• 36:19
  sign
• 36:20
  to
• 36:20
  me
• 36:22
  and
• 36:22
  this
• 36:22
  is,
• 36:23
  I
• 36:23
  thought
• 36:23
  about
• 36:23
  the
• 36:23
  best
• 36:24
  quote
• 36:24
  to
• 36:24
  keep
• 36:25
  to
• 36:25
  capture
• 36:26
  my
• 36:26
  thoughts
• 36:26
  on
• 36:26
  Target
• 36:27
  and
• 36:27
  Brian
• 36:27
  Cornell's
• 36:28
  tenure.
• 36:29
  A
• 36:29
  rival
• 36:29
  CEO
• 36:30
  exec
• 36:31
  told
• 36:31
  me
• 36:31
  about
• 36:32
  Brian
• 36:32
  Cornell
• 36:32
  one
• 36:33
  time
• 36:33
  that
• 36:34
  Brian,
• 36:34
  this
• 36:34
  is
• 36:34
  a
• 36:35
  CEO
• 36:35
  of
• 36:35
  a
• 36:35
  ten
• 36:36
  plus
• 36:36
  billion
• 36:36
  dollar
• 36:37
  retailer.
• 36:37
  This
• 36:38
  is
• 36:38
  a
• 36:38
  real
• 36:38
  quote.
• 36:38
  He
• 36:39
  said
• 36:39
  to
• 36:39
  me,
• 36:39
  Brian
• 36:39
  Cornell
• 36:40
  wouldn't
• 36:40
  understand
• 36:41
  my
• 36:41
  strategy
• 36:41
  if
• 36:41
  I
• 36:42
  wrote
• 36:42
  it
• 36:42
  down
• 36:42
  and
• 36:42
  handed
• 36:43
  it
• 36:43
  to
• 36:43
  him
• 36:43
  on
• 36:43
  a
• 36:44
  cocktail
• 36:44
  napkin.
• 36:45
  That's
• 36:45
  what's
• 36:46
  at
• 36:46
  play
• 36:46
  here,
• 36:46
  folks.
• 36:47
  And
• 36:47
  that's
• 36:47
  what
• 36:47
  this,
• 36:47
  that's
• 36:48
  what
• 36:48
  this
• 36:48
  headline
• 36:49
  says
• 36:49
  to
• 36:49
  me
• 36:49
  in
• 36:49
  terms
• 36:50
  of
• 36:50
  looking
• 36:50
  back
• 36:51
  on
• 36:51
  everything
• 36:52
  that's
• 36:52
  happened
• 36:52
  under
• 36:52
  his
• 36:52
  tenure
• 36:53
  over
• 36:53
  the
• 36:53
  last,
• 36:53
  what
• 36:53
  is
• 36:54
  it,
• 36:54
  11
• 36:54
  years.
• 36:54
  And
• 36:54
  I
• 36:55
  think
• 36:55
  he's
• 36:55
  been
• 36:55
  there,
• 36:56
  I
• 36:56
  think
• 36:56
  so.
• 36:56
  2014.
• 36:57
  Yeah.
• 36:58
  So
• 36:59
  yeah,
• 36:59
  this
• 37:00
  cuts,
• 37:00
  man.
• 37:01
  I
• 37:01
  just,
• 37:02
  I
• 37:02
  read
• 37:02
  this
• 37:02
  and
• 37:02
  I
• 37:03
  was
• 37:03
  just,
• 37:03
  I'm
• 37:04
  again,
• 37:04
  I'm
• 37:05
  really
• 37:06
  bummed
• 37:06
  that
• 37:06
  this
• 37:07
  is
• 37:07
  happening.
• 37:07
  I
• 37:08
  don't
• 37:08
  know
• 37:08
  how
• 37:08
  else
• 37:08
  to
• 37:08
  say
• 37:09
  it.
• 37:09
  I,
• 37:10
  I
• 37:10
  do
• 37:10
  think
• 37:11
  though
• 37:12
  this
• 37:12
  is,
• 37:12
  this
• 37:12
  is
• 37:13
  really
• 37:13
  going
• 37:13
  to
• 37:13
  be
• 37:14
  something
• 37:14
  that
• 37:15
  the
• 37:15
  street's
• 37:15
  going
• 37:16
  to
• 37:16
  be
• 37:16
  watching,
• 37:16
  that
• 37:17
  consumers
• 37:17
  are
• 37:17
  going
• 37:17
  to
• 37:17
  be
• 37:18
  watching
• 37:18
  to
• 37:18
  really
• 37:18
  see.
• 37:19
  Because
• 37:20
  this
• 37:20
  is
• 37:20
  an
• 37:20
  opportunity
• 37:21
  to
• 37:21
  see
• 37:22
  have
• 37:22
  Target
• 37:22
  show
• 37:22
  what
• 37:23
  it's
• 37:23
  made
• 37:23
  of.
• 37:24
  Can
• 37:24
  Rick
• 37:24
  Gomez
• 37:25
  and
• 37:25
  the
• 37:25
  team
• 37:25
  bring
• 37:26
  the
• 37:26
  right
• 37:26
  product
• 37:26
  assortment
• 37:27
  into
• 37:27
  the
• 37:27
  store
• 37:28
  that's
• 37:29
  going
• 37:29
  to
• 37:30
  supplement
• 37:30
  what
• 37:31
  this,
• 37:31
  you
• 37:31
  know,
• 37:32
  the
• 37:32
  Ulta
• 37:32
  beauty
• 37:33
  traffic
• 37:33
  drivers
• 37:34
  were
• 37:34
  and
• 37:35
  that's
• 37:35
  where
• 37:35
  that,
• 37:36
  like
• 37:36
  I've,
• 37:37
  I've
• 37:37
  said
• 37:38
  this
• 37:38
  to
• 37:38
  several
• 37:38
  people
• 37:39
  like
• 37:39
  beauty
• 37:40
  especially,
• 37:41
  but
• 37:41
  Target
• 37:42
  in
• 37:42
  general,
• 37:42
  it's
• 37:42
  about
• 37:43
  this
• 37:43
  creativity,
• 37:44
  this
• 37:45
  design
• 37:45
  at
• 37:45
  this
• 37:46
  price
• 37:46
  point
• 37:46
  that
• 37:46
  a
• 37:47
  mass,
• 37:47
  mass
• 37:47
  audience
• 37:48
  can
• 37:48
  adopt.
• 37:48
  And
• 37:49
  I
• 37:49
  really
• 37:49
  worry
• 37:50
  because
• 37:50
  for
• 37:51
  the
• 37:51
  last
• 37:51
  several
• 37:51
  years
• 37:52
  Target
• 37:53
  has
• 37:53
  been
• 37:53
  decreasing
• 37:54
  the
• 37:54
  priority
• 37:56
  of
• 37:56
  making
• 37:57
  things
• 37:57
  uniquely
• 37:58
  Target.
• 37:58
  They've
• 37:59
  been
• 37:59
  decreasing
• 38:00
  the
• 38:00
  market,
• 38:01
  decreasing
• 38:01
  the,
• 38:02
  decreasing
• 38:02
  the
• 38:03
  brand.
• 38:03
  Like
• 38:04
  the
• 38:05
  priority
• 38:05
  has
• 38:06
  been
• 38:06
  on
• 38:06
  how
• 38:06
  do
• 38:06
  we
• 38:06
  compete
• 38:07
  with
• 38:07
  Amazon
• 38:07
  and
• 38:07
  Walmart.
• 38:08
  And
• 38:08
  that's
• 38:08
  a,
• 38:09
  that's
• 38:09
  a
• 38:09
  race
• 38:09
  to
• 38:09
  the
• 38:09
  bottom.
• 38:10
  You're
• 38:10
  never
• 38:10
  going
• 38:10
  to
• 38:10
  beat
• 38:11
  them
• 38:11
  on
• 38:11
  price.
• 38:11
  You're
• 38:11
  never
• 38:12
  going
• 38:12
  to
• 38:12
  beat
• 38:12
  them.
• 38:12
  And
• 38:13
  any
• 38:13
  like
• 38:14
  people
• 38:14
  are
• 38:14
  going
• 38:14
  to,
• 38:15
  people
• 38:15
  are
• 38:15
  going
• 38:15
  to
• 38:16
  Walmart
• 38:16
  and
• 38:16
  Amazon
• 38:17
  right
• 38:17
  now
• 38:17
  and
• 38:17
  there's
• 38:18
  no
• 38:18
  way
• 38:18
  to
• 38:18
  stop
• 38:18
  them.
• 38:19
  You
• 38:19
  had
• 38:20
  that
• 38:20
  core,
• 38:21
  that
• 38:21
  identity,
• 38:21
  that
• 38:22
  Target,
• 38:22
  that
• 38:22
  thing
• 38:23
  that
• 38:23
  made
• 38:23
  you
• 38:23
  so
• 38:24
  strong.
• 38:24
  And
• 38:24
  beauty
• 38:25
  is
• 38:25
  one
• 38:25
  of
• 38:25
  these
• 38:25
  key
• 38:26
  categories
• 38:27
  where
• 38:27
  you
• 38:27
  going
• 38:28
  to
• 38:28
  need
• 38:28
  to
• 38:28
  figure
• 38:29
  out
• 38:29
  how
• 38:29
  to
• 38:29
  bring
• 38:30
  those
• 38:30
  people
• 38:30
  back
• 38:31
  and
• 38:31
  how
• 38:31
  to
• 38:32
  create
• 38:32
  that,
• 38:32
  how
• 38:33
  to
• 38:33
  really
• 38:33
  invest
• 38:34
  there
• 38:34
  in
• 38:34
  the
• 38:34
  type
• 38:35
  of
• 38:35
  beauty
• 38:35
  product
• 38:35
  that's
• 38:36
  going
• 38:36
  to
• 38:36
  reach
• 38:36
  that
• 38:37
  mass
• 38:37
  audience.
• 38:37
  And
• 38:38
  that's
• 38:38
  where
• 38:38
  I
• 38:38
  worry.
• 38:39
  I'm
• 38:39
  like
• 38:39
  Target,
• 38:39
  you
• 38:40
  got
• 38:40
  to
• 38:40
  focus
• 38:40
  inward
• 38:41
  right
• 38:41
  now
• 38:41
  on
• 38:41
  yourself.
• 38:42
  Quit
• 38:43
  worrying
• 38:43
  about
• 38:43
  the
• 38:43
  shop
• 38:43
  and
• 38:44
  shops
• 38:44
  and
• 38:44
  these
• 38:44
  other
• 38:45
  things.
• 38:45
  How
• 38:45
  are
• 38:45
  you
• 38:45
  going
• 38:46
  to
• 38:46
  get
• 38:46
  back
• 38:46
  to
• 38:46
  core
• 38:47
  Target
• 38:47
  which
• 38:47
  is
• 38:47
  really
• 38:48
  establishing
• 38:48
  yourself
• 38:49
  as
• 38:49
  a
• 38:49
  brand
• 38:50
  that
• 38:50
  has
• 38:50
  a
• 38:50
  point
• 38:50
  of
• 38:50
  point
• 38:50
  of
• 38:51
  view.
• 38:51
  Yeah.
• 38:52
  100
• 38:52
  and
• 38:53
  that.
• 38:53
  And,
• 38:53
  and
• 38:53
  you're,
• 38:53
  you're
• 38:54
  dead
• 38:54
  right.
• 38:54
  Like
• 38:54
  you,
• 38:55
  you
• 38:55
  have
• 38:55
  to
• 38:55
  keep
• 38:55
  control
• 38:56
  of
• 38:56
  those
• 38:56
  businesses.
• 38:56
  That's
• 38:56
  why
• 38:57
  I
• 38:57
  made
• 38:57
  the
• 38:57
  point
• 38:57
  about
• 38:57
  pharmacy.
• 38:58
  Like
• 38:58
  right,
• 38:59
  if
• 38:59
  Walmart
• 38:59
  can
• 39:00
  run
• 39:00
  a
• 39:00
  pharmacy,
• 39:00
  Costco
• 39:00
  can
• 39:01
  run
• 39:01
  a
• 39:01
  pharmacy,
• 39:01
  Safeway
• 39:02
  Albertsons
• 39:02
  can
• 39:03
  run
• 39:03
  a
• 39:03
  pharmacy.
• 39:03
  Why
• 39:03
  can't
• 39:04
  you
• 39:04
  Target?
• 39:04
  Like
• 39:05
  that
• 39:05
  was
• 39:05
  a
• 39:05
  really
• 39:05
  short
• 39:06
  sighted
• 39:06
  move
• 39:06
  too
• 39:07
  in
• 39:07
  retrospect
• 39:08
  in
• 39:08
  my
• 39:08
  opinion.
• 39:09
  So
• 39:09
  like
• 39:10
  you
• 39:11
  know,
• 39:11
  and
• 39:11
  it's
• 39:11
  just
• 39:11
  gonna,
• 39:11
  it's
• 39:11
  just
• 39:12
  gonna
• 39:12
  hurt
• 39:12
  them
• 39:12
  in
• 39:12
  the
• 39:12
  long
• 39:12
  run.
• 39:13
  And,
• 39:13
  and
• 39:13
  the
• 39:14
  good
• 39:14
  news
• 39:14
  though,
• 39:14
  and
• 39:15
  if
• 39:15
  I
• 39:15
  have
• 39:15
  a
• 39:15
  silver
• 39:15
  lining
• 39:16
  on
• 39:16
  this,
• 39:16
  I
• 39:16
  saw
• 39:16
  Michael
• 39:17
  Fidelke,
• 39:17
  the
• 39:17
  new
• 39:17
  CEO
• 39:18
  video
• 39:19
  on
• 39:19
  LinkedIn
• 39:20
  today.
• 39:21
  He
• 39:21
  was
• 39:21
  talking
• 39:22
  about
• 39:22
  bringing
• 39:22
  back
• 39:23
  design
• 39:23
  and
• 39:23
  the
• 39:24
  design
• 39:24
  merchandising.
• 39:25
  So
• 39:25
  I
• 39:25
  think
• 39:25
  that's
• 39:25
  the
• 39:25
  right
• 39:26
  thing.
• 39:26
  Now
• 39:26
  there's
• 39:27
  a
• 39:27
  lot
• 39:27
  of
• 39:27
  other
• 39:27
  things
• 39:27
  that,
• 39:27
  you
• 39:28
  know,
• 39:28
  may
• 39:28
  or
• 39:28
  that
• 39:28
  could
• 39:29
  give
• 39:29
  or
• 39:29
  take
• 39:29
  with
• 39:29
  that
• 39:29
  video,
• 39:29
  but
• 39:30
  I
• 39:30
  think
• 39:30
  that
• 39:30
  is
• 39:30
  still
• 39:31
  the
• 39:31
  right
• 39:31
  approach
• 39:32
  which
• 39:32
  says
• 39:32
  what
• 39:33
  you
• 39:33
  said.
• 39:34
  And
• 39:34
  I'm
• 39:34
  curious
• 39:34
  what
• 39:34
  other
• 39:35
  people
• 39:35
  think
• 39:35
  of
• 39:35
  that
• 39:35
  video.
• 39:35
  Drop
• 39:36
  me
• 39:36
  a
• 39:36
  message
• 39:36
  on
• 39:37
  LinkedIn,
• 39:38
  you
• 39:38
  know,
• 39:38
  because
• 39:38
  I'd
• 39:39
  love
• 39:39
  to
• 39:39
  hear
• 39:39
  your
• 39:39
  thoughts.
• 39:40
  But
• 39:40
  yeah,
• 39:41
  interesting
• 39:41
  time
• 39:41
  for
• 39:41
  Target
• 39:42
  for
• 39:42
  sure.
• 39:43
  All
• 39:44
  right,
• 39:44
  Chris,
• 39:44
  this.
• 39:44
  Let's
• 39:44
  close
• 39:45
  it
• 39:45
  out
• 39:45
  with
• 39:45
  a
• 39:45
  lightning
• 39:45
  round.
• 39:46
  Number
• 39:47
  one
• 39:47
  question
• 39:48
  for
• 39:48
  you.
• 39:48
  The
• 39:48
  NFL
• 39:49
  and
• 39:49
  Crocs
• 39:49
  are
• 39:49
  teaming
• 39:50
  up
• 39:50
  this
• 39:50
  season
• 39:50
  to
• 39:51
  bring
• 39:51
  fans
• 39:51
  special
• 39:52
  Crocs
• 39:52
  emblazoned
• 39:53
  with
• 39:53
  the
• 39:53
  logos
• 39:54
  and
• 39:54
  colors
• 39:54
  of
• 39:55
  their
• 39:55
  favorite
• 39:55
  teams.
• 39:56
  What
• 39:56
  are
• 39:56
  the
• 39:56
  chances
• 39:57
  that
• 39:58
  the
• 39:58
  Arizona
• 39:59
  Cardinals
• 39:59
  pair,
• 39:59
  once
• 40:00
  it's
• 40:00
  created,
• 40:00
  will
• 40:01
  make
• 40:01
  it
• 40:01
  as
• 40:02
  your
• 40:02
  winter
• 40:02
  house
• 40:02
  shoes?
• 40:04
  Oh,
• 40:04
  probably.
• 40:05
  Probably
• 40:05
  zero
• 40:06
  on
• 40:06
  my
• 40:06
  account.
• 40:06
  But
• 40:07
  I
• 40:07
  could
• 40:07
  see
• 40:07
  someone
• 40:07
  purchasing
• 40:08
  those
• 40:08
  for
• 40:08
  me
• 40:09
  because
• 40:09
  you
• 40:09
  know
• 40:09
  why
• 40:09
  for
• 40:10
  me.
• 40:10
  And
• 40:10
  I.
• 40:10
  I'm
• 40:11
  riding
• 40:11
  or
• 40:11
  dying
• 40:11
  with
• 40:11
  my
• 40:12
  new
• 40:12
  UFO
• 40:12
  slides.
• 40:13
  Those
• 40:13
  things
• 40:13
  are
• 40:13
  okay.
• 40:14
  They
• 40:14
  repair
• 40:15
  your
• 40:15
  legs
• 40:16
  in
• 40:16
  no
• 40:16
  time.
• 40:16
  Man,
• 40:17
  you're
• 40:17
  running.
• 40:18
  They're
• 40:18
  great.
• 40:18
  All
• 40:19
  right.
• 40:19
  Limited
• 40:19
  edition
• 40:19
  Harry
• 40:20
  Potter
• 40:20
  donuts
• 40:20
  arrived
• 40:21
  at
• 40:21
  Krispy
• 40:21
  Kreme
• 40:22
  shops
• 40:22
  across.
• 40:23
  Across
• 40:23
  the
• 40:23
  US
• 40:24
  this
• 40:24
  week.
• 40:24
  If
• 40:25
  you
• 40:25
  were
• 40:25
  a
• 40:25
  donut,
• 40:26
  and
• 40:26
  this
• 40:26
  is
• 40:26
  a
• 40:27
  question
• 40:27
  I've
• 40:27
  always
• 40:27
  wanted
• 40:27
  to
• 40:27
  ask
• 40:28
  you.
• 40:28
  If
• 40:28
  you
• 40:28
  were
• 40:28
  a
• 40:28
  donut,
• 40:29
  what
• 40:29
  donut
• 40:29
  would
• 40:30
  you
• 40:30
  be
• 40:30
  and
• 40:30
  why
• 40:30
  and
• 40:31
  how
• 40:31
  would
• 40:31
  you
• 40:31
  spell
• 40:32
  donut?
• 40:33
  Oh,
• 40:34
  God.
• 40:34
  So
• 40:34
  many
• 40:35
  questions
• 40:35
  in
• 40:35
  this.
• 40:37
  I
• 40:37
  guess
• 40:37
  I
• 40:37
  always
• 40:38
  spell
• 40:38
  donut
• 40:39
  with
• 40:39
  the
• 40:40
  G
• 40:40
  H
• 40:40
  like
• 40:41
  donut,
• 40:41
  not
• 40:42
  the
• 40:42
  D
• 40:42
  O,
• 40:42
  N
• 40:42
  U
• 40:43
  T.
• 40:45
  I
• 40:45
  feel
• 40:45
  like
• 40:46
  it's
• 40:46
  a
• 40:46
  one
• 40:47
  of
• 40:47
  the
• 40:47
  most
• 40:47
  supreme
• 40:48
  pastries,
• 40:48
  so
• 40:48
  you've
• 40:48
  got
• 40:48
  to
• 40:49
  give
• 40:49
  it
• 40:49
  all
• 40:49
  the
• 40:49
  letters.
• 40:51
  I
• 40:51
  think
• 40:51
  that
• 40:52
  if
• 40:52
  I
• 40:52
  were
• 40:53
  to
• 40:53
  be
• 40:53
  a
• 40:53
  donut,
• 40:54
  I
• 40:54
  was
• 40:54
  thinking,
• 40:54
  I
• 40:55
  think
• 40:55
  it
• 40:55
  would
• 40:55
  be
• 40:55
  like
• 40:55
  a
• 40:56
  cruller
• 40:56
  because
• 40:57
  I
• 40:57
  think
• 40:58
  that
• 40:58
  it's
• 40:59
  the
• 40:59
  most
• 40:59
  beautiful
• 41:00
  of
• 41:00
  the
• 41:00
  donuts
• 41:01
  and
• 41:01
  it
• 41:01
  just
• 41:01
  looks
• 41:02
  like
• 41:02
  a
• 41:02
  piece
• 41:02
  of
• 41:03
  art
• 41:03
  that
• 41:03
  is
• 41:03
  edible.
• 41:04
  Edible
• 41:04
  art.
• 41:05
  So
• 41:05
  that's
• 41:05
  what
• 41:05
  I
• 41:05
  would
• 41:06
  choose.
• 41:06
  A
• 41:06
  glazed
• 41:07
  cruller.
• 41:08
  Interesting.
• 41:08
  So
• 41:08
  the
• 41:09
  cruller
• 41:09
  is
• 41:09
  the
• 41:09
  most
• 41:09
  beautiful
• 41:10
  donut.
• 41:11
  I'm
• 41:11
  curious
• 41:11
  if
• 41:11
  other
• 41:11
  people
• 41:11
  agree
• 41:12
  with
• 41:12
  that.
• 41:12
  Let
• 41:12
  us
• 41:12
  know
• 41:12
  your
• 41:13
  thoughts.
• 41:13
  What
• 41:13
  is
• 41:13
  the
• 41:14
  most
• 41:14
  beautiful
• 41:14
  donut?
• 41:14
  I've
• 41:15
  never
• 41:15
  thought
• 41:15
  about
• 41:15
  that.
• 41:15
  Oh,
• 41:16
  yeah.
• 41:16
  I
• 41:16
  think
• 41:16
  it's
• 41:17
  like
• 41:17
  art,
• 41:17
  though.
• 41:17
  Beauty
• 41:18
  is
• 41:18
  in
• 41:18
  the
• 41:18
  eye
• 41:18
  of
• 41:18
  the
• 41:18
  donut
• 41:19
  holder.
• 41:19
  You
• 41:20
  just,
• 41:20
  you
• 41:20
  need
• 41:20
  to
• 41:20
  decide
• 41:21
  what.
• 41:21
  What
• 41:22
  is
• 41:22
  the
• 41:22
  most
• 41:22
  beautiful.
• 41:23
  Some
• 41:23
  it
• 41:23
  might
• 41:23
  be
• 41:24
  sprinkles
• 41:24
  that
• 41:24
  do
• 41:24
  it
• 41:25
  for
• 41:25
  some
• 41:25
  people.
• 41:26
  For
• 41:26
  me,
• 41:26
  it's
• 41:26
  like
• 41:27
  the
• 41:27
  beautiful
• 41:27
  crown
• 41:28
  pattern
• 41:28
  of
• 41:28
  a
• 41:29
  cruller.
• 41:30
  Yeah,
• 41:30
  it's
• 41:30
  in
• 41:30
  the
• 41:31
  either
• 41:31
  knot
• 41:31
  or
• 41:32
  the
• 41:32
  nut
• 41:32
  holder,
• 41:32
  depending
• 41:33
  on
• 41:33
  how
• 41:33
  you
• 41:33
  want
• 41:33
  to
• 41:33
  spell
• 41:33
  it.
• 41:34
  That's
• 41:34
  right.
• 41:34
  That's
• 41:35
  right.
• 41:36
  Okay,
• 41:36
  Chris,
• 41:37
  New
• 41:37
  Data
• 41:38
  from
• 41:38
  CNN
• 41:38
  Business
• 41:39
  showed
• 41:39
  that
• 41:39
  pawn
• 41:39
  shops
• 41:40
  and
• 41:40
  are
• 41:40
  the
• 41:41
  newest
• 41:41
  destinations
• 41:42
  for
• 41:42
  back
• 41:42
  to
• 41:42
  school
• 41:42
  shopping
• 41:43
  because
• 41:43
  goods
• 41:43
  like
• 41:43
  laptops
• 41:44
  and
• 41:44
  electronics
• 41:45
  are
• 41:45
  more
• 41:45
  affordable
• 41:46
  there
• 41:46
  and
• 41:46
  free
• 41:47
  from
• 41:47
  tariff
• 41:47
  price
• 41:47
  hikes.
• 41:48
  Have
• 41:48
  you
• 41:49
  ever
• 41:49
  purchased
• 41:49
  or
• 41:50
  sought
• 41:50
  out
• 41:50
  anything
• 41:51
  from
• 41:51
  a
• 41:52
  pawn
• 41:52
  shop,
• 41:52
  Chris?
• 41:53
  And
• 41:53
  if
• 41:53
  so,
• 41:53
  what
• 41:54
  was
• 41:54
  it?
• 41:55
  No,
• 41:55
  you
• 41:55
  know,
• 41:55
  I've
• 41:56
  never
• 41:56
  even,
• 41:56
  actually,
• 41:56
  I
• 41:56
  don't
• 41:56
  think
• 41:57
  I've
• 41:57
  even
• 41:57
  been
• 41:57
  inside
• 41:58
  of
• 41:58
  a
• 41:58
  pawn
• 41:58
  shop
• 41:59
  and
• 41:59
  ever.
• 41:59
  I
• 42:00
  think
• 42:00
  I've.
• 42:00
  No,
• 42:00
  I
• 42:00
  don't
• 42:01
  think
• 42:01
  so.
• 42:01
  I
• 42:01
  can't
• 42:01
  remember
• 42:02
  though.
• 42:02
  I
• 42:02
  don't
• 42:02
  think
• 42:03
  I
• 42:03
  have.
• 42:03
  I,
• 42:03
  I've
• 42:04
  never
• 42:04
  even
• 42:04
  been
• 42:04
  to
• 42:04
  the
• 42:04
  Pawn
• 42:05
  Star
• 42:05
  shop
• 42:05
  in
• 42:05
  Vegas.
• 42:06
  I've
• 42:06
  always
• 42:06
  wanted
• 42:06
  to
• 42:07
  go,
• 42:07
  but
• 42:07
  now
• 42:07
  I've
• 42:08
  just
• 42:08
  looked
• 42:08
  through
• 42:08
  the
• 42:08
  window.
• 42:09
  There's
• 42:09
  one
• 42:09
  on,
• 42:09
  is
• 42:10
  one
• 42:10
  in
• 42:10
  Del
• 42:10
  Mar
• 42:10
  on
• 42:11
  San
• 42:11
  Clemente
• 42:11
  in
• 42:11
  San
• 42:11
  Clemente
• 42:12
  that
• 42:12
  I
• 42:12
  walk
• 42:13
  by
• 42:13
  all
• 42:13
  the
• 42:13
  time.
• 42:13
  I
• 42:13
  look
• 42:14
  through
• 42:14
  the
• 42:14
  window
• 42:14
  of
• 42:14
  the
• 42:14
  sports
• 42:14
  memorabilia,
• 42:15
  but
• 42:15
  I
• 42:15
  never
• 42:15
  have.
• 42:16
  Have
• 42:16
  you
• 42:16
  ever
• 42:16
  bought
• 42:16
  anything
• 42:16
  from
• 42:17
  a
• 42:17
  poncho?
• 42:17
  Oh
• 42:17
  God,
• 42:18
  yes.
• 42:18
  It's
• 42:19
  like
• 42:19
  the,
• 42:19
  one
• 42:19
  of
• 42:19
  the
• 42:19
  best
• 42:20
  places
• 42:20
  to
• 42:20
  go
• 42:20
  explore
• 42:21
  and
• 42:21
  thrift.
• 42:22
  Like
• 42:22
  there's
• 42:22
  just,
• 42:23
  you
• 42:23
  never
• 42:23
  know
• 42:23
  what
• 42:23
  you're
• 42:24
  going
• 42:24
  to
• 42:24
  find
• 42:24
  in
• 42:24
  there.
• 42:24
  Great
• 42:25
  jewelry
• 42:25
  usually.
• 42:28
  Yeah,
• 42:28
  there's,
• 42:29
  I,
• 42:29
  I
• 42:29
  mean
• 42:30
  I,
• 42:30
  I,
• 42:30
  it
• 42:31
  makes
• 42:31
  sense
• 42:31
  and
• 42:32
  it
• 42:32
  makes
• 42:32
  sense
• 42:32
  that
• 42:33
  people
• 42:33
  are
• 42:33
  going
• 42:33
  to
• 42:33
  pawn
• 42:33
  shops.
• 42:34
  That's
• 42:34
  a
• 42:34
  great
• 42:35
  option
• 42:35
  for
• 42:35
  people
• 42:37
  given,
• 42:38
  given
• 42:38
  how
• 42:38
  much
• 42:39
  the
• 42:39
  cost
• 42:39
  of
• 42:39
  things
• 42:39
  is
• 42:40
  going
• 42:40
  up
• 42:40
  as
• 42:40
  I
• 42:41
  just
• 42:41
  completed
• 42:41
  my
• 42:42
  round
• 42:42
  one
• 42:42
  of
• 42:42
  school
• 42:43
  shopping
• 42:43
  last
• 42:43
  week.
• 42:44
  So
• 42:44
  we
• 42:45
  might
• 42:45
  be
• 42:45
  heading
• 42:45
  to
• 42:45
  the
• 42:45
  pawn
• 42:46
  shop
• 42:46
  ourselves.
• 42:47
  Right?
• 42:48
  All
• 42:48
  right,
• 42:48
  last
• 42:48
  one.
• 42:49
  The
• 42:49
  Minnesota
• 42:49
  State
• 42:49
  Fair
• 42:50
  is
• 42:50
  also
• 42:50
  right
• 42:50
  around
• 42:50
  the
• 42:51
  corner.
• 42:51
  In
• 42:51
  addition
• 42:51
  to
• 42:51
  going
• 42:52
  back
• 42:52
  to
• 42:52
  school,
• 42:52
  what
• 42:52
  food
• 42:53
  on
• 42:53
  a
• 42:53
  stick
• 42:53
  are
• 42:53
  you
• 42:53
  most
• 42:54
  excited
• 42:54
  to
• 42:54
  procure?
• 42:56
  I
• 42:57
  am
• 42:57
  not
• 42:58
  a
• 42:58
  fair
• 42:58
  person.
• 42:59
  Every
• 42:59
  year.
• 42:59
  I
• 43:00
  don't
• 43:00
  go
• 43:00
  every
• 43:01
  year.
• 43:01
  Handle
• 43:02
  it.
• 43:03
  I
• 43:03
  might
• 43:04
  go
• 43:04
  this
• 43:04
  year
• 43:04
  on
• 43:05
  Saturday
• 43:05
  there's
• 43:05
  an
• 43:05
  atmospheric
• 43:06
  concert
• 43:06
  and
• 43:07
  like
• 43:07
  bringing
• 43:07
  back
• 43:07
  all
• 43:08
  the
• 43:08
  old
• 43:08
  hip
• 43:08
  hop
• 43:08
  artists
• 43:09
  from
• 43:09
  the
• 43:09
  90s
• 43:09
  that
• 43:09
  I
• 43:10
  loved.
• 43:10
  And
• 43:11
  in
• 43:11
  that
• 43:11
  case,
• 43:12
  I
• 43:12
  will
• 43:12
  probably
• 43:13
  get
• 43:14
  a
• 43:14
  pickle
• 43:14
  on
• 43:14
  a
• 43:14
  stick.
• 43:15
  There's
• 43:15
  like
• 43:15
  a
• 43:16
  pickle
• 43:16
  dog.
• 43:16
  It's
• 43:17
  so
• 43:17
  good.
• 43:18
  It's
• 43:18
  like
• 43:18
  a
• 43:18
  pickle
• 43:19
  that's
• 43:19
  wrapped
• 43:19
  in
• 43:20
  corned
• 43:20
  beef
• 43:20
  and
• 43:20
  like
• 43:21
  cream
• 43:21
  cheese
• 43:21
  is
• 43:21
  on
• 43:22
  the
• 43:22
  outside
• 43:22
  of
• 43:22
  the
• 43:22
  pickle.
• 43:23
  It's,
• 43:23
  it's
• 43:24
  a
• 43:24
  delicacy.
• 43:25
  It's
• 43:25
  so
• 43:25
  wonderful.
• 43:26
  Those
• 43:26
  are
• 43:26
  my
• 43:26
  favorite
• 43:27
  things,
• 43:27
  like
• 43:27
  salty
• 43:28
  and
• 43:29
  briny.
• 43:30
  It's
• 43:30
  great.
• 43:31
  I
• 43:31
  got
• 43:31
  to
• 43:31
  remember
• 43:31
  not
• 43:32
  to
• 43:32
  take
• 43:32
  a
• 43:32
  sip
• 43:32
  of
• 43:32
  coffee
• 43:33
  when
• 43:33
  I
• 43:33
  ask
• 43:33
  you
• 43:33
  questions
• 43:34
  at
• 43:34
  the
• 43:34
  lightning
• 43:34
  round
• 43:34
  because
• 43:35
  I
• 43:35
  will
• 43:35
  spit
• 43:35
  it
• 43:35
  all
• 43:35
  over
• 43:36
  my
• 43:36
  computer
• 43:36
  there.
• 43:36
  All
• 43:37
  right.
• 43:37
  You're
• 43:37
  not
• 43:37
  a.
• 43:38
  No,
• 43:38
  no
• 43:38
  pickle
• 43:39
  on
• 43:39
  a
• 43:39
  stick
• 43:39
  for
• 43:39
  you.
• 43:40
  No.
• 43:40
  God,
• 43:41
  I
• 43:41
  pick
• 43:41
  on
• 43:41
  a
• 43:41
  stick
• 43:42
  maybe.
• 43:42
  But
• 43:42
  when
• 43:42
  you
• 43:42
  talked
• 43:43
  about
• 43:43
  it
• 43:43
  wrapped
• 43:43
  in
• 43:43
  like
• 43:44
  pastrami
• 43:45
  and
• 43:45
  cream
• 43:45
  cheese.
• 43:45
  I
• 43:45
  want
• 43:46
  to
• 43:46
  like
• 43:47
  in
• 43:47
  my
• 43:47
  mouth.
• 43:47
  Oh
• 43:48
  my
• 43:48
  God,
• 43:49
  that
• 43:49
  sounds
• 43:49
  horrible.
• 43:51
  And
• 43:51
  I
• 43:52
  love
• 43:52
  pastrami
• 43:53
  and
• 43:53
  I
• 43:53
  love
• 43:53
  a
• 43:53
  pastrami
• 43:54
  sandwich,
• 43:54
  but
• 43:54
  that
• 43:55
  does
• 43:55
  not
• 43:55
  sound
• 43:55
  good
• 43:55
  to
• 43:55
  me
• 43:56
  at
• 43:56
  all.
• 43:56
  Alright,
• 43:57
  that
• 43:57
  closes
• 43:57
  up.
• 43:58
  Happy
• 43:58
  birthday
• 43:59
  today
• 43:59
  to
• 43:59
  Amy
• 44:00
  Adams,
• 44:00
  Andrew
• 44:00
  Garfield,
• 44:01
  and
• 44:01
  to
• 44:01
  Natty
• 44:02
  Gan's
• 44:02
  father,
• 44:03
  Ray
• 44:04
  Wise.
• 44:04
  And
• 44:04
  remember,
• 44:05
  if
• 44:05
  you
• 44:05
  can
• 44:05
  only
• 44:05
  read
• 44:05
  or
• 44:06
  listen
• 44:06
  to
• 44:06
  one
• 44:06
  retail
• 44:06
  blog
• 44:07
  in
• 44:07
  the
• 44:07
  business,
• 44:07
  make
• 44:07
  it
• 44:07
  Omnitok
• 44:08
  the
• 44:08
  only
• 44:08
  retail
• 44:09
  media
• 44:09
  outlet
• 44:09
  run
• 44:09
  by
• 44:09
  two
• 44:10
  former
• 44:10
  executives
• 44:10
  from
• 44:10
  the
• 44:11
  current
• 44:11
  top
• 44:11
  10
• 44:11
  US
• 44:11
  retailer.
• 44:12
  Our
• 44:13
  Fast
• 44:13
  Five
• 44:13
  podcast
• 44:13
  is
• 44:14
  the
• 44:14
  quickest,
• 44:14
  fastest
• 44:14
  rundown
• 44:15
  of
• 44:15
  all
• 44:15
  the
• 44:15
  week's
• 44:15
  top
• 44:15
  news,
• 44:16
  and
• 44:16
  our
• 44:16
  daily
• 44:17
  newsletter,
• 44:17
  the
• 44:17
  Retail
• 44:17
  Daily
• 44:18
  Minute,
• 44:18
  tells
• 44:18
  you
• 44:18
  all
• 44:19
  you
• 44:19
  need
• 44:19
  to
• 44:19
  know
• 44:19
  each
• 44:19
  day
• 44:20
  to
• 44:20
  stay
• 44:20
  on
• 44:20
  top
• 44:20
  of
• 44:21
  your
• 44:21
  game
• 44:21
  as
• 44:21
  a
• 44:21
  retailer
• 44:22
  executive.
• 44:22
  It
• 44:23
  also
• 44:23
  regularly
• 44:23
  features
• 44:24
  special
• 44:24
  content
• 44:24
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• 44:24
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• 44:25
  exclusive
• 44:25
  to
• 44:25
  us
• 44:25
  and
• 44:25
  that
• 44:26
  Ann
• 44:26
  and
• 44:26
  I
• 44:26
  take
• 44:26
  a
• 44:26
  lot
• 44:26
  of
• 44:27
  pride
• 44:27
  in
• 44:27
  doing
• 44:27
  just
• 44:27
  for
• 44:28
  you.
• 44:28
  Thanks
• 44:29
  as
• 44:29
  always
• 44:29
  for
• 44:29
  listening
• 44:30
  in.
• 44:30
  Please
• 44:30
  remember
• 44:30
  to
• 44:30
  like
• 44:31
  and
• 44:31
  leave
• 44:31
  us
• 44:31
  a
• 44:31
  review
• 44:32
  wherever
• 44:32
  you
• 44:32
  happen
• 44:32
  to
• 44:33
  listen
• 44:33
  to
• 44:33
  your
• 44:33
  podcast
• 44:34
  or
• 44:34
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• 44:34
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