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Migros Retail CEO on Pioneering Online Grocery & The Cultural Differences in Grocery Shopping · Omni Talk Retail

• 0:00
  Welcome
• 0:00
  back,
• 0:00
  everyone.
• 0:01
  This
• 0:01
  is
• 0:01
  Omnitok
• 0:01
  Retail.
• 0:02
  I'm
• 0:02
  Anne
• 0:02
  Mazinga.
• 0:03
  And
• 0:03
  I'm
• 0:03
  Chris
• 0:03
  Walton.
• 0:04
  And
• 0:04
  we
• 0:04
  are
• 0:04
  coming
• 0:04
  to
• 0:05
  you
• 0:05
  live
• 0:05
  once
• 0:05
  again
• 0:06
  from
• 0:06
  the
• 0:06
  Fusion
• 0:06
  Group
• 0:06
  booth
• 0:07
  here
• 0:07
  at
• 0:08
  Grocery
• 0:08
  Shop
• 0:08
  2025.
• 0:09
  And
• 0:09
  before
• 0:10
  we
• 0:10
  get
• 0:10
  started,
• 0:10
  want
• 0:10
  to
• 0:11
  give
• 0:11
  a
• 0:11
  big
• 0:11
  thank
• 0:11
  you
• 0:11
  to
• 0:12
  the
• 0:12
  Viewusion
• 0:12
  Group
• 0:13
  for
• 0:13
  helping
• 0:13
  us
• 0:13
  bring
• 0:13
  you
• 0:14
  all
• 0:14
  of
• 0:14
  our
• 0:14
  interviews
• 0:15
  here
• 0:15
  from
• 0:16
  Grocery
• 0:16
  Shop
• 0:17
  Now,
• 0:17
  Chris,
• 0:18
  Our
• 0:18
  next
• 0:18
  guest
• 0:19
  is
• 0:19
  the
• 0:20
  CEO
• 0:20
  of
• 0:21
  Migros
• 0:21
  Turkey,
• 0:22
  Mustafa
• 0:23
  Barton.
• 0:24
  Mustafa,
• 0:25
  welcome
• 0:25
  to
• 0:25
  the
• 0:26
  program.
• 0:26
  Thank
• 0:27
  you,
• 0:27
  thank
• 0:27
  you
• 0:27
  for
• 0:27
  having
• 0:28
  me.
• 0:28
  Yeah,
• 0:28
  I
• 0:28
  mean,
• 0:29
  Mustafa
• 0:30
  has
• 0:30
  told
• 0:30
  us
• 0:30
  before
• 0:30
  we
• 0:30
  got
• 0:30
  started
• 0:31
  that
• 0:31
  he's
• 0:31
  a
• 0:31
  follower
• 0:32
  of
• 0:32
  our
• 0:32
  podcast
• 0:32
  over
• 0:33
  in
• 0:33
  Turkey,
• 0:33
  which
• 0:33
  is
• 0:34
  just
• 0:34
  amazing
• 0:35
  to
• 0:35
  hear.
• 0:35
  So
• 0:35
  thank
• 0:35
  you
• 0:36
  for
• 0:36
  following
• 0:36
  us
• 0:36
  and
• 0:37
  we
• 0:37
  appreciate
• 0:37
  your
• 0:37
  support.
• 0:38
  And
• 0:38
  so
• 0:38
  with
• 0:39
  all
• 0:39
  that
• 0:39
  said,
• 0:40
  let's
• 0:40
  get
• 0:40
  your
• 0:40
  first
• 0:41
  timer
• 0:41
  with
• 0:41
  us.
• 0:41
  Let's
• 0:42
  get
• 0:42
  your
• 0:42
  background,
• 0:42
  your
• 0:43
  career
• 0:43
  in
• 0:43
  retail,
• 0:44
  and
• 0:44
  also
• 0:44
  tell
• 0:45
  us
• 0:45
  a
• 0:45
  little
• 0:45
  bit
• 0:45
  about
• 0:45
  Migros
• 0:46
  as
• 0:46
  well
• 0:46
  for
• 0:47
  those
• 0:47
  that
• 0:47
  may
• 0:47
  not
• 0:47
  be
• 0:47
  as
• 0:48
  familiar
• 0:48
  with
• 0:48
  them.
• 0:48
  Okay,
• 0:49
  so
• 0:50
  this
• 0:50
  is
• 0:50
  Mustafa
• 0:51
  from
• 0:51
  Istanbul.
• 0:52
  This
• 0:53
  is
• 0:53
  my
• 0:53
  13th
• 0:54
  year
• 0:54
  in
• 0:54
  retail
• 0:55
  industry.
• 0:56
  Okay.
• 0:56
  I
• 0:56
  started
• 0:57
  as
• 0:57
  a
• 0:57
  young
• 0:57
  Engineer
• 0:58
  back
• 0:58
  in
• 0:58
  1995.
• 1:01
  Then
• 1:01
  I
• 1:01
  left
• 1:02
  the
• 1:02
  company
• 1:02
  Migros
• 1:03
  in
• 1:04
  2000
• 1:04
  to
• 1:05
  join
• 1:05
  Hewlett
• 1:06
  Packard
• 1:07
  and
• 1:07
  spent
• 1:08
  nine
• 1:08
  years
• 1:08
  there
• 1:09
  and
• 1:09
  got
• 1:09
  back
• 1:10
  by
• 1:10
  the
• 1:10
  way,
• 1:10
  when
• 1:11
  one
• 1:11
  of
• 1:11
  my
• 1:11
  best
• 1:12
  friends
• 1:12
  became
• 1:12
  the
• 1:13
  CEO
• 1:13
  of
• 1:13
  the
• 1:13
  company,
• 1:14
  he
• 1:14
  invited
• 1:14
  me
• 1:15
  back
• 1:15
  to
• 1:15
  the
• 1:15
  company
• 1:16
  and
• 1:16
  then
• 1:17
  I
• 1:17
  started
• 1:17
  restarted
• 1:18
  as
• 1:18
  the
• 1:19
  chief
• 1:19
  digital
• 1:19
  officer
• 1:20
  of
• 1:20
  the
• 1:20
  company.
• 1:21
  The
• 1:22
  only
• 1:22
  thing
• 1:22
  with
• 1:22
  the
• 1:22
  first
• 1:23
  part
• 1:23
  of
• 1:23
  my
• 1:23
  career
• 1:24
  is
• 1:24
  I
• 1:24
  was
• 1:25
  the
• 1:25
  young
• 1:26
  engineer,
• 1:26
  23
• 1:27
  years
• 1:27
  old,
• 1:28
  who
• 1:28
  started
• 1:29
  the
• 1:29
  online
• 1:29
  grocery
• 1:30
  back
• 1:30
  in
• 1:31
  1997.
• 1:33
  Wow.
• 1:33
  To
• 1:34
  our
• 1:34
  audience,
• 1:34
  if
• 1:35
  anyone
• 1:36
  argues
• 1:37
  or
• 1:37
  claims
• 1:37
  that
• 1:38
  they
• 1:38
  have
• 1:39
  started
• 1:39
  online
• 1:40
  grocery
• 1:40
  before
• 1:41
  that
• 1:41
  date,
• 1:42
  you
• 1:42
  can
• 1:42
  reach
• 1:43
  me.
• 1:44
  I
• 1:45
  believe,
• 1:45
  I
• 1:46
  argue,
• 1:46
  I
• 1:46
  claim
• 1:47
  that
• 1:47
  we
• 1:48
  are
• 1:48
  the
• 1:48
  very
• 1:49
  first
• 1:49
  brick
• 1:49
  and
• 1:50
  mortar
• 1:50
  company,
• 1:51
  at
• 1:51
  least
• 1:52
  in
• 1:52
  Europe,
• 1:53
  who
• 1:53
  started
• 1:53
  the
• 1:54
  online
• 1:54
  grocery
• 1:54
  business.
• 1:55
  But
• 1:55
  it's
• 1:56
  of
• 1:56
  course
• 1:56
  up
• 1:57
  to
• 1:57
  challenges.
• 1:58
  So
• 1:59
  when
• 1:59
  I
• 1:59
  got
• 1:59
  back
• 2:00
  as
• 2:00
  the
• 2:00
  cdo,
• 2:01
  I
• 2:01
  was
• 2:02
  leading
• 2:02
  the
• 2:03
  IT
• 2:03
  team,
• 2:03
  the
• 2:04
  online
• 2:04
  grocery,
• 2:05
  the
• 2:05
  CRM
• 2:06
  and
• 2:06
  the
• 2:06
  business
• 2:06
  development.
• 2:07
  And
• 2:07
  then
• 2:08
  after
• 2:08
  six
• 2:09
  years,
• 2:10
  I
• 2:10
  moved
• 2:10
  to
• 2:11
  business
• 2:12
  from
• 2:13
  being
• 2:13
  a
• 2:14
  tech
• 2:14
  guy,
• 2:15
  I
• 2:15
  became
• 2:16
  a
• 2:16
  business
• 2:16
  guy.
• 2:17
  And
• 2:18
  three
• 2:18
  years
• 2:19
  ago
• 2:19
  I
• 2:19
  became
• 2:19
  the
• 2:20
  CEO
• 2:20
  of
• 2:20
  the
• 2:21
  retail
• 2:21
  business.
• 2:21
  Okay,
• 2:22
  so
• 2:22
  this
• 2:23
  is
• 2:23
  Mustafa
• 2:24
  and
• 2:25
  regarding
• 2:25
  Migros
• 2:26
  Turkey.
• 2:27
  We
• 2:27
  usually
• 2:27
  say
• 2:27
  Migros
• 2:28
  Turkey
• 2:29
  because
• 2:30
  this
• 2:30
  is
• 2:30
  a
• 2:31
  national
• 2:31
  thing,
• 2:32
  the
• 2:32
  animal
• 2:33
  Turkey,
• 2:33
  and
• 2:33
  the
• 2:33
  country
• 2:34
  is
• 2:34
  sometimes
• 2:34
  confused.
• 2:35
  So
• 2:35
  we
• 2:36
  used,
• 2:36
  we
• 2:36
  tried
• 2:37
  to
• 2:37
  use
• 2:37
  the
• 2:37
  Turkey
• 2:38
  word.
• 2:39
  So
• 2:39
  let
• 2:39
  me
• 2:39
  use
• 2:40
  that.
• 2:40
  Migros
• 2:40
  Turkiye.
• 2:41
  We
• 2:42
  are
• 2:42
  the
• 2:42
  second
• 2:42
  largest
• 2:43
  grocery
• 2:43
  company
• 2:45
  in
• 2:45
  Turkey.
• 2:48
  We're
• 2:48
  having
• 2:48
  an
• 2:48
  annual
• 2:49
  turnover
• 2:49
  of
• 2:49
  8,
• 2:50
  US$1.5
• 2:50
  billion
• 2:53
  with
• 2:53
  3700
• 2:55
  stores
• 2:55
  all
• 2:56
  over
• 2:56
  the
• 2:56
  country.
• 2:57
  And
• 2:58
  one
• 2:58
  of
• 2:58
  a
• 2:59
  few
• 2:59
  highlights
• 2:59
  like
• 3:00
  more
• 3:00
  than
• 3:00
  20%
• 3:01
  of
• 3:01
  our
• 3:01
  business
• 3:01
  coming
• 3:02
  from
• 3:02
  online.
• 3:03
  Okay.
• 3:04
  Not
• 3:04
  bad,
• 3:04
  huh?
• 3:06
  What
• 3:07
  else?
• 3:07
  We're
• 3:08
  a
• 3:08
  multi
• 3:09
  banner
• 3:09
  network.
• 3:11
  We
• 3:11
  have
• 3:12
  stores
• 3:13
  ranging
• 3:13
  from
• 3:14
  1,000
• 3:14
  square
• 3:15
  feet
• 3:15
  up
• 3:15
  to
• 3:16
  100,000
• 3:17
  square
• 3:17
  feet.
• 3:18
  Okay.
• 3:18
  We
• 3:18
  have
• 3:19
  neighborhood
• 3:19
  stores.
• 3:20
  We
• 3:20
  have
• 3:20
  four
• 3:20
  court
• 3:21
  stores.
• 3:21
  We
• 3:22
  have
• 3:22
  hypermarkets,
• 3:23
  we
• 3:23
  call
• 3:23
  it
• 3:23
  in
• 3:23
  Europe
• 3:24
  hypermarkets.
• 3:24
  You
• 3:24
  call
• 3:24
  it
• 3:25
  big
• 3:25
  box
• 3:25
  stores.
• 3:26
  So
• 3:27
  we
• 3:27
  also
• 3:27
  very
• 3:28
  recently
• 3:28
  started
• 3:28
  a
• 3:29
  cosmetics
• 3:29
  chain
• 3:30
  and
• 3:30
  a
• 3:30
  pet
• 3:30
  chain.
• 3:31
  We
• 3:32
  have
• 3:32
  a
• 3:32
  dark
• 3:33
  kitchen
• 3:33
  business
• 3:34
  and
• 3:35
  we
• 3:35
  have
• 3:35
  a
• 3:35
  fintech
• 3:36
  company,
• 3:36
  a
• 3:36
  separate
• 3:36
  fintech
• 3:37
  company
• 3:37
  together
• 3:38
  with
• 3:38
  a
• 3:38
  retail
• 3:39
  media
• 3:39
  business
• 3:39
  as
• 3:40
  a
• 3:40
  separate
• 3:40
  business.
• 3:41
  And
• 3:41
  you
• 3:41
  oversee
• 3:42
  all
• 3:42
  of
• 3:42
  that?
• 3:42
  No,
• 3:43
  no,
• 3:43
  our
• 3:44
  group
• 3:44
  CEO
• 3:44
  is
• 3:45
  overseeing
• 3:45
  all
• 3:46
  of
• 3:46
  that.
• 3:47
  I'm
• 3:47
  the
• 3:47
  guy
• 3:47
  who
• 3:47
  is
• 3:48
  in
• 3:48
  charge
• 3:48
  of,
• 3:48
  or
• 3:49
  the
• 3:49
  CEO
• 3:49
  of
• 3:49
  The,
• 3:49
  the
• 3:50
  mother
• 3:50
  Come.
• 3:50
  The,
• 3:51
  the.
• 3:51
  The.
• 3:52
  How
• 3:52
  do
• 3:52
  you
• 3:52
  call
• 3:52
  it?
• 3:52
  The,
• 3:53
  the
• 3:53
  retail
• 3:53
  company.
• 3:54
  Okay,
• 3:55
  okay,
• 3:55
  got
• 3:55
  it.
• 3:56
  Our
• 3:56
  online
• 3:56
  business
• 3:57
  is
• 3:57
  a
• 3:57
  separate
• 3:58
  company.
• 3:58
  Our
• 3:59
  retail
• 3:59
  media.
• 3:59
  Retail.
• 4:00
  Retail
• 4:01
  media
• 4:01
  business,
• 4:01
  a
• 4:01
  separate
• 4:02
  company.
• 4:02
  Fintech
• 4:03
  separate
• 4:03
  company.
• 4:03
  So
• 4:04
  the
• 4:04
  group
• 4:04
  CEO
• 4:04
  is
• 4:05
  overseeing
• 4:05
  all
• 4:05
  of
• 4:05
  them.
• 4:06
  Got
• 4:06
  it,
• 4:06
  Got
• 4:06
  it.
• 4:06
  But
• 4:07
  you
• 4:07
  still
• 4:07
  have
• 4:07
  a
• 4:07
  lot
• 4:08
  under
• 4:08
  your,
• 4:09
  your,
• 4:09
  your
• 4:09
  purview
• 4:11
  as
• 4:11
  just
• 4:11
  the
• 4:11
  retailer
• 4:13
  CEO
• 4:13
  here.
• 4:14
  So
• 4:14
  I'd
• 4:15
  love
• 4:15
  to
• 4:15
  get
• 4:15
  your
• 4:15
  perspective.
• 4:16
  Mustafa.
• 4:17
  You've
• 4:17
  been
• 4:17
  probably
• 4:18
  walking
• 4:18
  around
• 4:18
  grocery
• 4:19
  shop.
• 4:20
  What,
• 4:21
  what
• 4:21
  are
• 4:21
  some
• 4:21
  of
• 4:21
  the
• 4:21
  key
• 4:22
  differences
• 4:22
  that
• 4:23
  you
• 4:23
  find
• 4:23
  between
• 4:24
  being
• 4:24
  a
• 4:25
  retailer
• 4:26
  in
• 4:26
  Turkey.
• 4:27
  Did
• 4:28
  I
• 4:28
  say
• 4:28
  it
• 4:28
  right?
• 4:28
  Turkey,
• 4:29
  Turkey,
• 4:30
  Turkey.
• 4:30
  Okay.
• 4:31
  No,
• 4:31
  no
• 4:31
  problem.
• 4:32
  All
• 4:32
  good.
• 4:32
  All
• 4:32
  good.
• 4:33
  Mustafa,
• 4:34
  you're,
• 4:34
  you're
• 4:34
  a
• 4:34
  gem.
• 4:35
  And,
• 4:36
  but
• 4:36
  what's,
• 4:37
  what's
• 4:37
  the
• 4:37
  difference
• 4:37
  between
• 4:37
  being
• 4:38
  a
• 4:38
  Turkish
• 4:38
  retailer,
• 4:39
  you
• 4:39
  think,
• 4:39
  and
• 4:39
  a
• 4:39
  US
• 4:40
  retailer?
• 4:41
  The
• 4:41
  first
• 4:41
  thing
• 4:42
  is
• 4:42
  the
• 4:42
  definition
• 4:43
  of
• 4:44
  big.
• 4:44
  Okay.
• 4:45
  So
• 4:45
  you
• 4:45
  guys,
• 4:46
  I
• 4:46
  mean,
• 4:47
  what
• 4:47
  we
• 4:48
  call
• 4:48
  as
• 4:48
  big
• 4:49
  is
• 4:49
  quite
• 4:50
  different
• 4:50
  what
• 4:50
  you
• 4:51
  call
• 4:51
  as
• 4:51
  big.
• 4:51
  Okay?
• 4:52
  Okay.
• 4:52
  Our
• 4:53
  big
• 4:53
  stores
• 4:53
  is
• 4:54
  like
• 4:54
  your
• 4:55
  supermarket
• 4:56
  stores.
• 4:56
  Okay?
• 4:56
  A
• 4:57
  big
• 4:57
  store
• 4:57
  in
• 4:58
  Turkey
• 4:58
  would
• 4:58
  mean,
• 4:59
  you
• 4:59
  know,
• 5:00
  maximum
• 5:01
  seven,
• 5:01
  eight,
• 5:03
  sorry,
• 5:03
  70,
• 5:04
  80,000
• 5:05
  square
• 5:05
  feet.
• 5:06
  Okay.
• 5:06
  But
• 5:06
  in
• 5:07
  your
• 5:07
  case,
• 5:07
  I
• 5:08
  know
• 5:08
  some
• 5:08
  Walmart
• 5:08
  super
• 5:09
  centers
• 5:09
  like
• 5:10
  three
• 5:10
  times
• 5:10
  of
• 5:10
  that
• 5:11
  area.
• 5:12
  And
• 5:12
  our
• 5:13
  Turkish
• 5:13
  retail
• 5:14
  is
• 5:14
  very
• 5:15
  much
• 5:15
  dominated
• 5:16
  by
• 5:16
  the
• 5:17
  discounters.
• 5:18
  We
• 5:18
  have
• 5:19
  the
• 5:19
  copycats
• 5:20
  of
• 5:20
  Aldi's
• 5:21
  and
• 5:21
  Lidls
• 5:22
  in
• 5:22
  Turkey.
• 5:22
  They
• 5:22
  don't
• 5:22
  have
• 5:23
  any
• 5:23
  presence
• 5:24
  in
• 5:24
  Turkey,
• 5:24
  but
• 5:24
  we
• 5:24
  have
• 5:25
  their
• 5:25
  copycats.
• 5:26
  And
• 5:26
  each
• 5:27
  of
• 5:27
  them,
• 5:27
  the
• 5:27
  three
• 5:27
  leading,
• 5:28
  gross,
• 5:28
  three
• 5:29
  leading
• 5:29
  discounters
• 5:30
  have
• 5:31
  all
• 5:32
  more
• 5:32
  than
• 5:32
  13,000
• 5:34
  stores
• 5:35
  each.
• 5:35
  Okay,
• 5:36
  so
• 5:36
  almost
• 5:37
  three
• 5:37
  make.
• 5:37
  The
• 5:38
  three
• 5:38
  of
• 5:38
  them
• 5:38
  makes
• 5:39
  like
• 5:39
  40,000
• 5:40
  discount
• 5:41
  stores.
• 5:42
  But
• 5:42
  their
• 5:42
  discount
• 5:43
  stores
• 5:43
  are
• 5:43
  different
• 5:44
  than
• 5:44
  your
• 5:45
  discount
• 5:45
  stores
• 5:46
  because
• 5:46
  they
• 5:46
  are
• 5:46
  around
• 5:47
  3
• 5:47
  to
• 5:48
  4,000
• 5:49
  squares.
• 5:50
  Okay.
• 5:50
  Quite
• 5:51
  smaller
• 5:51
  than
• 5:51
  that.
• 5:52
  And
• 5:52
  the
• 5:52
  basket
• 5:53
  size,
• 5:53
  the
• 5:54
  shopping
• 5:55
  behavior
• 5:56
  of
• 5:56
  a
• 5:56
  Turkish
• 5:57
  customer
• 5:57
  is
• 5:57
  quite
• 5:58
  different
• 5:58
  than
• 5:58
  a
• 5:59
  US
• 5:59
  customer.
• 6:00
  Our
• 6:00
  basket
• 6:00
  sizes
• 6:01
  are
• 6:01
  smaller.
• 6:02
  Frequency
• 6:02
  is
• 6:03
  much
• 6:03
  more
• 6:03
  than
• 6:03
  yours.
• 6:04
  Okay.
• 6:05
  We
• 6:05
  don't
• 6:05
  have
• 6:05
  that
• 6:05
  kind
• 6:06
  of
• 6:06
  a
• 6:06
  month
• 6:06
  stock
• 6:07
  up
• 6:07
  trip.
• 6:07
  Yeah.
• 6:08
  Yeah,
• 6:08
  so
• 6:08
  that's
• 6:09
  the,
• 6:09
  that's
• 6:10
  the
• 6:10
  most
• 6:10
  important
• 6:11
  difference.
• 6:11
  And
• 6:12
  the
• 6:12
  other
• 6:12
  difference
• 6:13
  probably
• 6:13
  we
• 6:14
  could
• 6:14
  mention
• 6:14
  later
• 6:14
  on,
• 6:15
  but
• 6:15
  this
• 6:15
  quick
• 6:15
  commerce
• 6:16
  thing.
• 6:16
  Okay,
• 6:16
  so
• 6:17
  quick
• 6:17
  commerce
• 6:18
  is
• 6:18
  a
• 6:18
  big
• 6:18
  thing
• 6:18
  in
• 6:18
  Turkey
• 6:19
  because
• 6:19
  of,
• 6:20
  because
• 6:20
  of
• 6:20
  KTIR
• 6:21
  is
• 6:21
  a
• 6:22
  Turkish
• 6:22
  company.
• 6:23
  So
• 6:23
  that's.
• 6:23
  Those
• 6:23
  are
• 6:24
  the
• 6:24
  main
• 6:24
  differences.
• 6:25
  Sure.
• 6:25
  Okay,
• 6:26
  so
• 6:26
  let's,
• 6:26
  let's
• 6:26
  extend
• 6:27
  that
• 6:27
  conversation
• 6:27
  then.
• 6:28
  So
• 6:28
  like,
• 6:28
  I'm
• 6:28
  curious,
• 6:29
  especially
• 6:29
  given
• 6:29
  your
• 6:29
  background
• 6:30
  as
• 6:30
  the
• 6:30
  former
• 6:30
  Chief
• 6:31
  Digital
• 6:31
  Officer
• 6:31
  as
• 6:31
  well,
• 6:32
  how
• 6:32
  do
• 6:33
  you
• 6:33
  think
• 6:33
  about
• 6:33
  the
• 6:33
  word
• 6:33
  Omnichannel
• 6:34
  within
• 6:35
  the
• 6:35
  Turkish
• 6:35
  context
• 6:36
  and
• 6:37
  what
• 6:37
  elements
• 6:38
  are
• 6:38
  there
• 6:39
  for
• 6:40
  migros
• 6:40
  as
• 6:40
  well?
• 6:41
  How
• 6:41
  do
• 6:41
  you
• 6:41
  look
• 6:42
  at
• 6:42
  Omnichannel?
• 6:42
  What
• 6:42
  are
• 6:43
  you
• 6:43
  doing
• 6:43
  to
• 6:44
  create
• 6:44
  that
• 6:44
  Omnichannel
• 6:45
  relationship
• 6:45
  with
• 6:45
  your
• 6:46
  customer?
• 6:46
  The
• 6:46
  answer
• 6:47
  would
• 6:47
  be
• 6:47
  quite
• 6:48
  different
• 6:48
  for
• 6:48
  the
• 6:48
  country
• 6:49
  and
• 6:49
  the
• 6:49
  company
• 6:50
  because
• 6:51
  as
• 6:51
  we
• 6:51
  are
• 6:51
  dominated
• 6:52
  by
• 6:52
  the
• 6:52
  discounters,
• 6:53
  they
• 6:53
  don't
• 6:53
  have
• 6:54
  any
• 6:54
  online
• 6:54
  presence,
• 6:55
  almost
• 6:55
  no
• 6:56
  presence
• 6:56
  because.
• 6:56
  Because
• 6:56
  it's
• 6:57
  not
• 6:57
  in
• 6:57
  their
• 6:57
  DNA,
• 6:58
  I
• 6:58
  think.
• 6:58
  So
• 6:59
  Omnichannel
• 7:00
  would
• 7:00
  not
• 7:00
  apply
• 7:00
  to
• 7:01
  them.
• 7:03
  And
• 7:03
  only,
• 7:04
  I
• 7:04
  think
• 7:04
  the
• 7:04
  only
• 7:05
  competitor
• 7:06
  to
• 7:06
  us
• 7:06
  from
• 7:07
  a
• 7:07
  bricks
• 7:07
  and
• 7:07
  mortars
• 7:08
  point
• 7:08
  of
• 7:08
  view
• 7:09
  is
• 7:09
  Carrefour
• 7:10
  has
• 7:10
  a
• 7:10
  presence
• 7:10
  in
• 7:11
  Turkey,
• 7:11
  but
• 7:11
  they
• 7:11
  have
• 7:11
  a
• 7:12
  very
• 7:12
  small
• 7:12
  online
• 7:12
  business.
• 7:13
  But
• 7:13
  they
• 7:13
  are
• 7:14
  the
• 7:14
  only
• 7:14
  second
• 7:15
  company
• 7:15
  that
• 7:15
  I
• 7:16
  could
• 7:16
  mention.
• 7:16
  But
• 7:17
  mainly
• 7:18
  the
• 7:18
  pure
• 7:18
  players
• 7:19
  are
• 7:20
  more
• 7:20
  important
• 7:20
  competitors
• 7:21
  for
• 7:21
  us
• 7:21
  from
• 7:21
  an
• 7:22
  online
• 7:22
  point
• 7:22
  of
• 7:22
  view.
• 7:23
  And
• 7:23
  get
• 7:23
  here
• 7:24
  still
• 7:24
  alive
• 7:25
  by
• 7:25
  the
• 7:25
  way.
• 7:26
  And
• 7:26
  Delivery
• 7:27
  Hero
• 7:27
  has
• 7:27
  something
• 7:28
  as
• 7:28
  well.
• 7:28
  Alibaba
• 7:29
  has
• 7:29
  a
• 7:29
  presence
• 7:30
  as
• 7:30
  well.
• 7:30
  Really?
• 7:32
  Alibaba
• 7:33
  owns
• 7:33
  the
• 7:33
  largest
• 7:34
  marketplace
• 7:35
  in
• 7:35
  Turkey.
• 7:36
  And
• 7:36
  by
• 7:36
  the
• 7:36
  way,
• 7:37
  we
• 7:37
  have
• 7:37
  Amazon
• 7:38
  Turkey,
• 7:38
  we
• 7:38
  have
• 7:38
  Alibaba.
• 7:39
  We
• 7:39
  have
• 7:40
  no
• 7:40
  idea.
• 7:40
  Nasdaq
• 7:41
  listed
• 7:41
  Turkish
• 7:42
  marketplace
• 7:42
  or
• 7:42
  marketplace
• 7:43
  business
• 7:43
  in
• 7:43
  Turkey
• 7:44
  is
• 7:44
  a
• 7:44
  big
• 7:44
  one.
• 7:45
  So
• 7:46
  we
• 7:46
  are
• 7:46
  the
• 7:46
  only
• 7:46
  brick
• 7:47
  and
• 7:47
  mortar,
• 7:47
  I
• 7:48
  can
• 7:48
  say
• 7:48
  with
• 7:48
  a
• 7:48
  significant
• 7:49
  amount
• 7:49
  of
• 7:50
  online
• 7:50
  grocery
• 7:50
  business.
• 7:51
  And
• 7:51
  for
• 7:52
  us,
• 7:52
  Omnichannel
• 7:53
  is
• 7:53
  everything
• 7:53
  okay.
• 7:54
  So
• 7:54
  we
• 7:55
  try
• 7:55
  to
• 7:55
  do
• 7:56
  everything
• 7:56
  by
• 7:57
  design.
• 7:57
  Omnichannel,
• 7:58
  okay.
• 7:59
  As
• 7:59
  we
• 8:00
  are
• 8:00
  quite
• 8:00
  old
• 8:00
  in
• 8:01
  this
• 8:01
  business,
• 8:01
  like
• 8:02
  28
• 8:03
  years
• 8:03
  we
• 8:03
  have
• 8:03
  been
• 8:04
  in
• 8:04
  this
• 8:04
  online
• 8:04
  grocery
• 8:05
  business.
• 8:05
  We
• 8:06
  try
• 8:06
  to
• 8:06
  make
• 8:07
  everything.
• 8:07
  Omnichannel.
• 8:08
  We
• 8:08
  try
• 8:08
  to
• 8:09
  make
• 8:09
  every
• 8:09
  decision
• 8:10
  from
• 8:10
  an
• 8:10
  Omnichannel
• 8:11
  channel
• 8:11
  point
• 8:11
  of
• 8:12
  view.
• 8:12
  I
• 8:12
  think
• 8:12
  the
• 8:13
  most
• 8:13
  important
• 8:13
  thing
• 8:14
  is
• 8:15
  I
• 8:15
  was
• 8:16
  the
• 8:16
  young
• 8:16
  engineer
• 8:17
  who
• 8:17
  took
• 8:17
  over
• 8:18
  the
• 8:18
  management
• 8:18
  of
• 8:18
  the
• 8:18
  company.
• 8:19
  Company.
• 8:19
  One
• 8:19
  of
• 8:19
  my
• 8:20
  friends
• 8:20
  called
• 8:21
  this
• 8:21
  as
• 8:21
  a
• 8:21
  reverse
• 8:22
  takeover.
• 8:23
  Usually
• 8:24
  the
• 8:24
  offline
• 8:24
  guys
• 8:25
  dominate
• 8:25
  the
• 8:25
  retail
• 8:26
  business,
• 8:26
  but
• 8:27
  in
• 8:27
  my
• 8:27
  case
• 8:28
  you
• 8:28
  can
• 8:28
  see
• 8:28
  how
• 8:29
  omnichannel
• 8:29
  we
• 8:30
  are.
• 8:30
  Yeah,
• 8:30
  right.
• 8:31
  Well,
• 8:31
  20%
• 8:31
  is
• 8:32
  nothing
• 8:32
  to
• 8:32
  sneeze
• 8:32
  at.
• 8:32
  Right.
• 8:33
  That's
• 8:33
  pretty
• 8:33
  significant.
• 8:34
  Right.
• 8:34
  And
• 8:35
  so
• 8:35
  as
• 8:35
  you're
• 8:36
  thinking,
• 8:36
  Mustafa,
• 8:36
  about
• 8:37
  kind
• 8:37
  of
• 8:37
  the
• 8:37
  future
• 8:37
  of
• 8:38
  your
• 8:38
  digital
• 8:38
  capabilities
• 8:39
  then
• 8:39
  at
• 8:41
  your
• 8:41
  organization,
• 8:42
  what
• 8:43
  do
• 8:43
  you
• 8:43
  think
• 8:43
  is
• 8:43
  going
• 8:43
  to
• 8:43
  change
• 8:44
  in
• 8:44
  the
• 8:44
  Next
• 8:44
  three
• 8:44
  to
• 8:45
  five
• 8:45
  years.
• 8:45
  How
• 8:45
  do
• 8:45
  you
• 8:46
  plan
• 8:46
  to
• 8:46
  expand
• 8:46
  upon
• 8:47
  those?
• 8:47
  Especially
• 8:48
  having
• 8:48
  started
• 8:48
  it
• 8:49
  back
• 8:49
  in
• 8:49
  95.
• 8:51
  So
• 8:52
  from
• 8:52
  a
• 8:53
  digitalization
• 8:53
  point
• 8:54
  of
• 8:54
  view,
• 8:54
  the
• 8:55
  last
• 8:55
  three
• 8:55
  years,
• 8:55
  three,
• 8:56
  four
• 8:56
  years
• 8:56
  were
• 8:57
  totally
• 8:58
  around
• 8:58
  cost
• 8:59
  optimization.
• 9:00
  Okay.
• 9:00
  So
• 9:01
  that's
• 9:01
  why
• 9:01
  we
• 9:01
  decided
• 9:02
  to
• 9:02
  make
• 9:03
  huge
• 9:03
  investments
• 9:04
  in
• 9:04
  in
• 9:04
  store
• 9:04
  technologies
• 9:05
  like
• 9:05
  ESL
• 9:06
  and
• 9:07
  Sasiris
• 9:08
  checkouts.
• 9:10
  And
• 9:10
  you
• 9:10
  know,
• 9:11
  now
• 9:11
  I
• 9:12
  think
• 9:12
  we've
• 9:13
  done
• 9:13
  a
• 9:13
  lot
• 9:13
  of
• 9:14
  investment
• 9:14
  on
• 9:14
  that
• 9:14
  part.
• 9:15
  The
• 9:15
  next
• 9:15
  three
• 9:15
  to
• 9:16
  four
• 9:16
  years
• 9:16
  would
• 9:16
  probably
• 9:17
  be
• 9:17
  around
• 9:18
  the
• 9:18
  AI
• 9:18
  thing.
• 9:19
  Okay.
• 9:19
  Even
• 9:20
  though
• 9:20
  I'm
• 9:20
  not
• 9:20
  a
• 9:20
  very
• 9:21
  big
• 9:21
  fan
• 9:21
  of
• 9:21
  this,
• 9:22
  you
• 9:22
  know,
• 9:22
  hypes,
• 9:23
  you
• 9:23
  know,
• 9:23
  I
• 9:23
  usually,
• 9:24
  this
• 9:25
  is
• 9:25
  a
• 9:25
  personal
• 9:25
  thing.
• 9:25
  I've
• 9:26
  never
• 9:26
  watched
• 9:27
  a
• 9:27
  movie
• 9:28
  when
• 9:28
  it
• 9:28
  is
• 9:28
  very
• 9:29
  popular.
• 9:29
  Okay.
• 9:30
  I've
• 9:30
  never
• 9:30
  read
• 9:31
  a
• 9:31
  book
• 9:31
  when
• 9:31
  it
• 9:31
  is,
• 9:32
  you
• 9:32
  know,
• 9:32
  very
• 9:33
  popular.
• 9:34
  But
• 9:34
  I
• 9:35
  definitely
• 9:35
  see
• 9:35
  AI
• 9:36
  is
• 9:36
  a
• 9:36
  very,
• 9:36
  very
• 9:36
  transformative
• 9:37
  thing.
• 9:38
  But
• 9:39
  I
• 9:39
  still
• 9:39
  believe
• 9:40
  that
• 9:40
  computer
• 9:41
  vision,
• 9:41
  machine
• 9:42
  learning,
• 9:43
  still
• 9:43
  we
• 9:43
  have
• 9:43
  to
• 9:43
  do
• 9:44
  a
• 9:44
  lot
• 9:44
  of
• 9:44
  things
• 9:44
  before
• 9:45
  going
• 9:45
  up
• 9:46
  to
• 9:46
  gen
• 9:46
  AI.
• 9:46
  But
• 9:47
  definitely
• 9:47
  gen
• 9:47
  AI
• 9:48
  is
• 9:48
  another
• 9:48
  very
• 9:48
  transformative
• 9:49
  thing.
• 9:50
  And
• 9:51
  the
• 9:51
  last
• 9:51
  thing
• 9:52
  that
• 9:52
  we
• 9:52
  consider
• 9:53
  as
• 9:53
  a
• 9:53
  very
• 9:54
  important
• 9:54
  thing
• 9:54
  is
• 9:56
  automating
• 9:57
  the
• 9:57
  fulfillment
• 9:58
  part
• 9:58
  of
• 9:58
  our
• 9:59
  online
• 9:59
  grocery.
• 10:00
  We
• 10:00
  have
• 10:00
  great
• 10:00
  technologies
• 10:01
  there.
• 10:01
  We
• 10:01
  have
• 10:01
  some,
• 10:03
  we
• 10:03
  have
• 10:03
  our
• 10:03
  own
• 10:03
  robotic
• 10:04
  solutions
• 10:04
  there.
• 10:05
  Okay.
• 10:05
  Yes.
• 10:05
  So
• 10:06
  we're
• 10:06
  investing
• 10:07
  a
• 10:07
  lot
• 10:07
  on
• 10:07
  that.
• 10:08
  And
• 10:08
  finally
• 10:08
  the
• 10:09
  supply
• 10:09
  chain
• 10:10
  automation,
• 10:11
  the
• 10:11
  warehouse
• 10:11
  automation
• 10:12
  is
• 10:12
  another
• 10:13
  very
• 10:13
  important
• 10:13
  step
• 10:14
  for
• 10:14
  us.
• 10:14
  Got
• 10:15
  it.
• 10:15
  So
• 10:15
  I'm
• 10:15
  curious,
• 10:15
  when
• 10:15
  you
• 10:16
  said
• 10:16
  self
• 10:16
  checkout,
• 10:16
  like
• 10:16
  how
• 10:17
  do
• 10:17
  you
• 10:17
  actually
• 10:17
  do
• 10:17
  self
• 10:18
  checkout
• 10:18
  over
• 10:18
  in
• 10:18
  Turkey?
• 10:20
  You
• 10:21
  know,
• 10:22
  today
• 10:23
  almost
• 10:23
  one
• 10:24
  third
• 10:24
  of
• 10:24
  our
• 10:25
  stores
• 10:25
  are
• 10:25
  equipped
• 10:26
  with
• 10:26
  self
• 10:26
  checkouts.
• 10:27
  Even
• 10:28
  though
• 10:28
  we
• 10:28
  have
• 10:28
  like
• 10:29
  more
• 10:29
  than
• 10:30
  60%
• 10:30
  of
• 10:31
  our
• 10:32
  number
• 10:32
  of
• 10:32
  stores
• 10:33
  coming
• 10:33
  from
• 10:33
  small
• 10:34
  stores.
• 10:34
  We
• 10:34
  even
• 10:35
  started
• 10:35
  putting
• 10:36
  self
• 10:37
  service
• 10:37
  checkouts
• 10:37
  into
• 10:38
  our
• 10:38
  small
• 10:38
  stores
• 10:38
  as
• 10:39
  well.
• 10:39
  Because
• 10:39
  we
• 10:40
  used
• 10:40
  to
• 10:40
  think
• 10:40
  that
• 10:41
  self
• 10:41
  service
• 10:41
  checkouts
• 10:42
  were
• 10:43
  for
• 10:44
  the
• 10:44
  big
• 10:45
  box
• 10:45
  stores,
• 10:45
  but
• 10:45
  not
• 10:46
  anymore.
• 10:47
  We're
• 10:47
  putting
• 10:48
  into
• 10:49
  very
• 10:49
  small
• 10:49
  stores
• 10:50
  to
• 10:50
  save
• 10:51
  ftes
• 10:52
  the
• 10:52
  full
• 10:53
  time
• 10:53
  employees.
• 10:53
  So
• 10:54
  it's
• 10:54
  a
• 10:54
  labor
• 10:54
  process
• 10:56
  and
• 10:57
  we.
• 10:57
  Saw
• 10:57
  that
• 10:57
  it's
• 10:59
  increasing
• 11:00
  the
• 11:00
  customer
• 11:00
  engagement
• 11:01
  and
• 11:02
  we
• 11:02
  have
• 11:03
  better
• 11:03
  shopper
• 11:03
  experience
• 11:04
  in
• 11:04
  some
• 11:05
  stores
• 11:05
  where
• 11:05
  we
• 11:05
  have
• 11:06
  self
• 11:06
  service
• 11:06
  checkouts.
• 11:07
  And
• 11:07
  do
• 11:07
  you
• 11:07
  do
• 11:07
  it
• 11:08
  like
• 11:08
  with
• 11:08
  the
• 11:08
  traditional
• 11:08
  self
• 11:09
  checkout
• 11:09
  machine?
• 11:09
  Do
• 11:10
  you
• 11:10
  do
• 11:10
  it
• 11:10
  with
• 11:10
  an
• 11:10
  app?
• 11:11
  Like
• 11:11
  how
• 11:11
  does
• 11:11
  it
• 11:11
  work?
• 11:12
  Okay.
• 11:13
  We
• 11:13
  tried
• 11:13
  scan
• 11:14
  and
• 11:14
  go
• 11:15
  years
• 11:15
  and
• 11:15
  years
• 11:15
  ago
• 11:16
  a
• 11:16
  lot
• 11:17
  of
• 11:17
  times,
• 11:17
  but
• 11:17
  it
• 11:17
  didn't
• 11:18
  work.
• 11:18
  Didn't
• 11:18
  work.
• 11:18
  I
• 11:18
  think,
• 11:19
  I
• 11:19
  mean
• 11:19
  it
• 11:19
  could
• 11:19
  be
• 11:21
  cultural
• 11:21
  thing,
• 11:22
  but
• 11:22
  I've
• 11:22
  spent
• 11:23
  personally
• 11:24
  so,
• 11:24
  so
• 11:25
  much
• 11:25
  time
• 11:25
  on
• 11:26
  that,
• 11:26
  but
• 11:26
  it
• 11:26
  didn't
• 11:27
  work.
• 11:27
  You've
• 11:27
  tried
• 11:27
  it
• 11:28
  enough.
• 11:28
  Yeah,
• 11:28
  but
• 11:28
  self
• 11:29
  service
• 11:29
  checkout
• 11:30
  really
• 11:30
  works.
• 11:31
  People
• 11:31
  at
• 11:31
  age
• 11:32
  of
• 11:32
  60s,
• 11:33
  70s,
• 11:34
  they,
• 11:34
  I
• 11:34
  mean
• 11:34
  they
• 11:34
  are
• 11:34
  big
• 11:35
  fans
• 11:35
  of
• 11:35
  self
• 11:35
  service
• 11:36
  checkout.
• 11:36
  Whereas
• 11:37
  Sken
• 11:37
  and
• 11:37
  Go
• 11:38
  never
• 11:38
  worked.
• 11:38
  I
• 11:39
  think
• 11:39
  it's
• 11:40
  what
• 11:40
  I
• 11:40
  mean
• 11:41
  by
• 11:41
  cultural.
• 11:41
  Turkish
• 11:42
  people,
• 11:42
  I
• 11:42
  think,
• 11:43
  think
• 11:44
  that
• 11:44
  shopping
• 11:45
  should
• 11:46
  be
• 11:46
  done
• 11:46
  by
• 11:46
  two
• 11:47
  free
• 11:47
  hands.
• 11:47
  Two
• 11:48
  free
• 11:48
  hands?
• 11:48
  Yeah.
• 11:48
  So
• 11:48
  that's
• 11:49
  why
• 11:49
  they
• 11:49
  don't
• 11:49
  want
• 11:50
  to
• 11:50
  hold
• 11:50
  it.
• 11:50
  They
• 11:51
  don't
• 11:51
  want
• 11:51
  to
• 11:51
  hold
• 11:51
  the
• 11:51
  mobile
• 11:52
  in
• 11:52
  their
• 11:52
  hands.
• 11:53
  Sure,
• 11:53
  you
• 11:53
  know.
• 11:54
  So,
• 11:54
  Mustafa,
• 11:55
  what
• 11:55
  else
• 11:55
  are
• 11:56
  you
• 11:56
  working
• 11:56
  on?
• 11:56
  Because
• 11:56
  you
• 11:57
  were
• 11:57
  the
• 11:57
  first
• 11:57
  to
• 11:57
  go
• 11:58
  to
• 11:58
  digital
• 11:58
  grocery.
• 11:59
  You
• 11:59
  did
• 12:00
  scan
• 12:00
  and
• 12:00
  go
• 12:00
  years
• 12:01
  ago.
• 12:02
  What
• 12:02
  else
• 12:02
  are
• 12:02
  you
• 12:03
  working
• 12:03
  on
• 12:03
  right
• 12:03
  now?
• 12:04
  That
• 12:04
  might
• 12:04
  be
• 12:04
  a
• 12:04
  future
• 12:05
  indicator
• 12:05
  for
• 12:06
  us
• 12:06
  here
• 12:06
  in
• 12:06
  the
• 12:06
  us
• 12:08
  I
• 12:08
  think.
• 12:09
  Fintech
• 12:10
  financial
• 12:11
  technology
• 12:11
  is
• 12:12
  a
• 12:12
  big
• 12:12
  thing
• 12:12
  for
• 12:12
  us.
• 12:13
  Yeah.
• 12:15
  We
• 12:15
  are
• 12:15
  a
• 12:16
  shareholder
• 12:16
  of
• 12:17
  a
• 12:17
  digital
• 12:18
  only
• 12:18
  bank
• 12:19
  in
• 12:19
  Turkey.
• 12:20
  Together
• 12:20
  with
• 12:21
  them,
• 12:22
  probably
• 12:23
  in
• 12:23
  six
• 12:23
  months
• 12:23
  of
• 12:24
  time,
• 12:24
  we're
• 12:24
  going
• 12:24
  to
• 12:24
  be
• 12:24
  introducing
• 12:25
  our
• 12:26
  financial
• 12:26
  vertical
• 12:27
  online
• 12:28
  only.
• 12:28
  Okay.
• 12:29
  So
• 12:29
  we're
• 12:29
  going
• 12:29
  to
• 12:29
  be
• 12:30
  giving
• 12:30
  credit,
• 12:30
  we're
• 12:31
  going
• 12:31
  to
• 12:31
  be
• 12:31
  getting
• 12:31
  deposit
• 12:32
  money
• 12:33
  transfer.
• 12:33
  So
• 12:34
  I
• 12:34
  think
• 12:34
  this
• 12:34
  is
• 12:34
  going
• 12:34
  to
• 12:34
  be
• 12:35
  the
• 12:35
  next
• 12:35
  big
• 12:35
  thing,
• 12:36
  which
• 12:36
  I
• 12:36
  don't
• 12:37
  see
• 12:37
  much
• 12:38
  in
• 12:38
  us.
• 12:39
  Not
• 12:39
  very
• 12:39
  much.
• 12:39
  We've
• 12:39
  been
• 12:40
  talking
• 12:40
  about
• 12:40
  it.
• 12:40
  We
• 12:41
  feel
• 12:41
  like
• 12:41
  there's
• 12:41
  a
• 12:41
  need
• 12:41
  for
• 12:41
  it.
• 12:42
  Yes.
• 12:42
  But
• 12:42
  only
• 12:42
  a
• 12:42
  few
• 12:43
  players
• 12:43
  are
• 12:43
  really
• 12:43
  moving
• 12:44
  into
• 12:44
  that.
• 12:44
  Well,
• 12:45
  thank
• 12:45
  you
• 12:45
  so
• 12:45
  much.
• 12:46
  Thank
• 12:46
  you.
• 12:46
  It's
• 12:47
  a
• 12:47
  real
• 12:47
  pleasure
• 12:47
  having
• 12:47
  you.
• 12:48
  Thank
• 12:48
  you
• 12:48
  very
• 12:48
  much.
• 12:49
  It's
• 12:49
  always
• 12:50
  great
• 12:50
  to
• 12:50
  meet
• 12:50
  a
• 12:50
  fan
• 12:50
  too.
• 12:51
  So
• 12:51
  thank
• 12:51
  you
• 12:51
  again
• 12:51
  for
• 12:52
  your
• 12:52
  support.
• 12:52
  Thanks
• 12:52
  to
• 12:52
  the
• 12:52
  Fusion
• 12:53
  group
• 12:53
  for
• 12:53
  their
• 12:54
  support
• 12:54
  as
• 12:54
  well.
• 12:55
  And
• 12:55
  Anne,
• 12:56
  as
• 12:57
  always,
• 12:57
  be
• 12:58
  careful
• 12:58
  out
• 12:58
  there.