Latest / Omni Talk Retail / The Pace of Change in Retail Has Never Been Faster with Richard Lim | RTS 2026

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The Pace of Change in Retail Has Never Been Faster with Richard Lim | RTS 2026 · Omni Talk Retail

• 0:00
  Hello,
• 0:01
  everyone.
• 0:02
  This
• 0:02
  is
• 0:02
  Omnitalk
• 0:03
  Retail.
• 0:03
  I'm
• 0:03
  Chris
• 0:03
  Walton
• 0:04
  and
• 0:04
  we
• 0:04
  are
• 0:05
  coming
• 0:05
  to
• 0:05
  you
• 0:05
  live
• 0:06
  from
• 0:06
  the
• 0:06
  Retail
• 0:07
  Technology
• 0:07
  show
• 0:08
  at
• 0:08
  the
• 0:08
  exclusive
• 0:09
  Vuzion
• 0:09
  podcast
• 0:10
  studio.
• 0:10
  Now
• 0:11
  joining
• 0:11
  me
• 0:11
  is
• 0:12
  Richard
• 0:12
  Lim.
• 0:12
  Richard
• 0:13
  is
• 0:13
  the
• 0:13
  CEO
• 0:13
  and
• 0:14
  founder
• 0:14
  of
• 0:14
  Retail
• 0:15
  Economics.
• 0:16
  Richard,
• 0:16
  welcome
• 0:16
  to
• 0:16
  omnitalk.
• 0:17
  Thanks
• 0:17
  for
• 0:17
  being
• 0:17
  here.
• 0:18
  Thanks
• 0:18
  for
• 0:18
  inviting
• 0:19
  me.
• 0:19
  Yeah.
• 0:19
  What
• 0:19
  brings
• 0:19
  you
• 0:20
  to
• 0:20
  rts?
• 0:21
  I've
• 0:21
  been
• 0:21
  to
• 0:21
  RTS
• 0:22
  for
• 0:22
  at
• 0:22
  least
• 0:23
  three
• 0:23
  or
• 0:23
  four
• 0:23
  years.
• 0:24
  Really?
• 0:24
  On
• 0:24
  the
• 0:25
  trot.
• 0:25
  I
• 0:25
  love
• 0:25
  rts.
• 0:26
  It's
• 0:26
  the
• 0:27
  place
• 0:27
  where
• 0:28
  so
• 0:28
  many
• 0:28
  senior
• 0:29
  retailers
• 0:29
  come.
• 0:30
  It's
• 0:30
  the
• 0:30
  hub
• 0:30
  of
• 0:31
  communication.
• 0:32
  People
• 0:32
  are
• 0:32
  talking
• 0:32
  about,
• 0:34
  you
• 0:34
  know,
• 0:34
  the
• 0:34
  cutting
• 0:35
  edge
• 0:35
  of
• 0:35
  what's
• 0:35
  happening.
• 0:36
  And
• 0:36
  it's
• 0:36
  been
• 0:36
  kind
• 0:36
  of
• 0:37
  like
• 0:37
  Gen
• 0:37
  AI,
• 0:37
  Gen
• 0:38
  AI,
• 0:38
  Gen
• 0:38
  AI
• 0:38
  for
• 0:39
  the
• 0:39
  last
• 0:39
  couple
• 0:39
  of
• 0:39
  days.
• 0:39
  Yeah.
• 0:40
  Really?
• 0:40
  Yeah.
• 0:40
  Yeah.
• 0:40
  It
• 0:40
  is
• 0:40
  pretty
• 0:41
  fun.
• 0:41
  It's
• 0:41
  been
• 0:41
  a
• 0:41
  pretty
• 0:41
  fun
• 0:41
  conference,
• 0:42
  I
• 0:42
  have
• 0:42
  to
• 0:43
  admit.
• 0:43
  It's
• 0:43
  my
• 0:43
  first
• 0:43
  time
• 0:43
  here
• 0:43
  and
• 0:44
  I've
• 0:44
  enjoyed
• 0:44
  it
• 0:44
  a
• 0:44
  lot.
• 0:45
  All
• 0:45
  right,
• 0:46
  so
• 0:46
  let's
• 0:46
  talk
• 0:46
  about
• 0:46
  your
• 0:46
  background.
• 0:47
  So
• 0:47
  your
• 0:47
  background
• 0:48
  is
• 0:48
  really
• 0:48
  interesting.
• 0:48
  You
• 0:48
  were
• 0:49
  the
• 0:49
  chief
• 0:49
  economist
• 0:50
  at
• 0:50
  the
• 0:50
  British
• 0:51
  Retail
• 0:51
  Consortium,
• 0:52
  right?
• 0:52
  Yep.
• 0:53
  And,
• 0:53
  and,
• 0:53
  and,
• 0:54
  and
• 0:54
  now
• 0:54
  what
• 0:54
  are
• 0:54
  you
• 0:54
  doing?
• 0:55
  So
• 0:56
  I
• 0:56
  founded
• 0:57
  retail
• 0:57
  economics.
• 0:58
  Okay.
• 0:58
  10
• 0:58
  years
• 0:58
  ago.
• 0:59
  10
• 0:59
  years
• 0:59
  ago.
• 0:59
  Okay.
• 1:00
  10
• 1:00
  years
• 1:00
  ago.
• 1:00
  It's
• 1:00
  been
• 1:00
  a
• 1:01
  wild
• 1:01
  ride.
• 1:01
  Yeah.
• 1:02
  But,
• 1:02
  but
• 1:03
  10
• 1:03
  years
• 1:03
  ago,
• 1:04
  I
• 1:05
  guess
• 1:05
  the,
• 1:05
  the,
• 1:06
  the,
• 1:06
  the
• 1:07
  beginnings
• 1:07
  were
• 1:07
  that
• 1:07
  I
• 1:08
  was,
• 1:08
  I
• 1:08
  was
• 1:08
  at
• 1:09
  the
• 1:09
  brc.
• 1:10
  I
• 1:10
  was
• 1:10
  talking
• 1:11
  lots
• 1:11
  to
• 1:11
  lots
• 1:11
  of
• 1:11
  retailers.
• 1:12
  I
• 1:12
  was
• 1:12
  creating
• 1:13
  data
• 1:13
  products,
• 1:13
  and
• 1:14
  I
• 1:14
  just
• 1:14
  thought
• 1:15
  to
• 1:15
  myself,
• 1:16
  this
• 1:16
  is
• 1:16
  something
• 1:16
  I
• 1:16
  want
• 1:17
  to
• 1:17
  do
• 1:17
  on
• 1:17
  my
• 1:17
  own.
• 1:17
  Okay.
• 1:18
  Something
• 1:18
  that
• 1:18
  I
• 1:18
  want
• 1:19
  to,
• 1:20
  to
• 1:20
  create.
• 1:20
  And
• 1:21
  I've
• 1:21
  always
• 1:21
  been
• 1:21
  a
• 1:22
  bit
• 1:22
  entrepreneurial.
• 1:23
  Okay.
• 1:23
  So
• 1:24
  even
• 1:24
  when
• 1:24
  I
• 1:24
  was
• 1:24
  younger,
• 1:26
  I
• 1:26
  actually
• 1:27
  started
• 1:27
  my
• 1:27
  first
• 1:27
  business
• 1:27
  when
• 1:28
  I
• 1:28
  was
• 1:28
  about
• 1:28
  10.
• 1:28
  Oh,
• 1:28
  really?
• 1:29
  You're
• 1:29
  one
• 1:29
  of
• 1:29
  those
• 1:29
  guys?
• 1:29
  Okay.
• 1:30
  Yeah.
• 1:30
  Right.
• 1:30
  All
• 1:30
  right,
• 1:31
  nice.
• 1:31
  Pewter.
• 1:32
  Pewter
• 1:32
  animals.
• 1:33
  But
• 1:34
  then
• 1:34
  progress
• 1:35
  into.
• 1:35
  Yeah.
• 1:36
  Running
• 1:36
  my
• 1:36
  own
• 1:36
  economics
• 1:37
  consultancy
• 1:37
  focused
• 1:38
  specifically
• 1:38
  on
• 1:38
  retail.
• 1:39
  Did
• 1:39
  you
• 1:39
  say
• 1:39
  pewter
• 1:40
  animals?
• 1:40
  Correct.
• 1:41
  How
• 1:41
  big
• 1:41
  were
• 1:42
  said
• 1:42
  pewter
• 1:42
  animals?
• 1:44
  Tiny,
• 1:44
  like
• 1:45
  little
• 1:45
  miniature
• 1:45
  type
• 1:46
  animals.
• 1:46
  Wow.
• 1:47
  Yeah,
• 1:48
  People
• 1:49
  used
• 1:49
  to
• 1:49
  go
• 1:49
  to
• 1:50
  craft
• 1:50
  shows.
• 1:50
  Yeah.
• 1:51
  We're
• 1:51
  going
• 1:51
  a
• 1:51
  bit
• 1:51
  off
• 1:51
  topic
• 1:52
  here.
• 1:52
  That's
• 1:52
  okay.
• 1:53
  Shows
• 1:53
  had
• 1:54
  their
• 1:54
  dogs.
• 1:54
  It's
• 1:54
  retail.
• 1:55
  Yeah.
• 1:56
  You
• 1:56
  sell
• 1:56
  pewter
• 1:56
  animals.
• 1:57
  Yeah.
• 1:57
  So
• 1:57
  you
• 1:57
  got
• 1:57
  the
• 1:57
  entrepreneurial
• 1:58
  bug
• 1:58
  at
• 1:58
  an
• 1:58
  early
• 1:59
  age.
• 1:59
  That's
• 1:59
  a
• 1:59
  typical
• 2:00
  story
• 2:00
  of
• 2:00
  people
• 2:00
  that
• 2:01
  are,
• 2:01
  you
• 2:01
  know,
• 2:01
  focused
• 2:02
  on
• 2:02
  doing
• 2:02
  their
• 2:02
  entrepreneurial
• 2:03
  thing
• 2:03
  even
• 2:03
  later
• 2:03
  in
• 2:04
  life,
• 2:04
  like
• 2:04
  the
• 2:04
  two
• 2:04
  of
• 2:04
  us.
• 2:05
  All
• 2:06
  right,
• 2:06
  so
• 2:07
  you're
• 2:08
  a
• 2:08
  research.
• 2:08
  So
• 2:09
  you're
• 2:09
  consultancy
• 2:10
  based.
• 2:10
  You
• 2:11
  provide
• 2:11
  research
• 2:12
  insights
• 2:12
  to
• 2:13
  the
• 2:13
  retail
• 2:13
  and
• 2:13
  CPG
• 2:14
  community
• 2:14
  or
• 2:14
  mainly
• 2:14
  the
• 2:14
  retailers?
• 2:16
  A
• 2:16
  bit
• 2:16
  of
• 2:16
  both.
• 2:16
  Okay.
• 2:17
  And
• 2:17
  actually,
• 2:17
  as
• 2:18
  the
• 2:18
  business
• 2:19
  has
• 2:19
  evolved,
• 2:20
  we've
• 2:21
  expanded
• 2:22
  the
• 2:22
  range
• 2:22
  of
• 2:22
  different
• 2:23
  options.
• 2:23
  Okay.
• 2:24
  That
• 2:24
  we
• 2:24
  provide.
• 2:25
  The
• 2:25
  proposition
• 2:25
  has
• 2:26
  expanded.
• 2:26
  So
• 2:27
  life
• 2:27
  started
• 2:27
  as
• 2:28
  an
• 2:28
  economics
• 2:29
  consultancy
• 2:30
  where
• 2:30
  we
• 2:30
  would
• 2:30
  do
• 2:31
  economic
• 2:31
  analysis,
• 2:32
  econometric
• 2:33
  modeling.
• 2:34
  My
• 2:34
  background
• 2:34
  actually
• 2:35
  is
• 2:35
  a
• 2:35
  master's
• 2:35
  in
• 2:36
  behavioral
• 2:36
  economics.
• 2:36
  Okay.
• 2:37
  A
• 2:37
  lot
• 2:37
  of
• 2:37
  that.
• 2:38
  But
• 2:39
  we're
• 2:39
  probably
• 2:39
  more
• 2:40
  accurately
• 2:40
  described
• 2:41
  these
• 2:41
  days
• 2:41
  as
• 2:42
  a
• 2:42
  B2B
• 2:42
  thought
• 2:43
  leadership
• 2:43
  consultancy.
• 2:44
  Okay.
• 2:44
  With
• 2:44
  PR
• 2:45
  and
• 2:45
  comms,
• 2:46
  where
• 2:46
  we
• 2:46
  service
• 2:47
  lots
• 2:47
  of
• 2:49
  providers
• 2:50
  of
• 2:50
  services
• 2:51
  into
• 2:51
  the
• 2:51
  retail
• 2:51
  sector.
• 2:52
  Okay.
• 2:52
  So
• 2:53
  some
• 2:53
  of
• 2:53
  our
• 2:53
  clients,
• 2:53
  for
• 2:54
  example,
• 2:54
  would
• 2:54
  be
• 2:54
  TikTok
• 2:55
  and
• 2:56
  AWS
• 2:57
  and
• 2:57
  Microsoft
• 2:58
  and
• 2:58
  NatWest
• 2:59
  and
• 2:59
  Barclays.
• 3:00
  So
• 3:00
  the
• 3:00
  common
• 3:01
  thread
• 3:01
  here
• 3:01
  is
• 3:01
  that
• 3:02
  anyone
• 3:02
  that's
• 3:02
  interested
• 3:03
  in
• 3:03
  what's
• 3:03
  happening
• 3:03
  in
• 3:04
  the
• 3:04
  retail
• 3:04
  space,
• 3:04
  in
• 3:05
  the
• 3:05
  consumer
• 3:05
  space,
• 3:06
  and
• 3:06
  how
• 3:06
  that's
• 3:07
  affecting
• 3:07
  the
• 3:07
  economy
• 3:08
  would
• 3:08
  be
• 3:08
  interested
• 3:09
  in
• 3:09
  kind
• 3:09
  of
• 3:09
  research.
• 3:10
  Okay,
• 3:10
  got
• 3:10
  it,
• 3:10
  got
• 3:11
  it.
• 3:11
  And
• 3:11
  there's
• 3:11
  a
• 3:11
  lot
• 3:11
  of
• 3:11
  research
• 3:12
  companies
• 3:12
  in
• 3:12
  this
• 3:12
  space.
• 3:13
  So
• 3:13
  what
• 3:13
  differentiates
• 3:14
  you
• 3:14
  from
• 3:14
  them,
• 3:15
  particularly
• 3:15
  in
• 3:15
  those
• 3:15
  clients
• 3:16
  you're
• 3:16
  serving?
• 3:17
  I
• 3:17
  think
• 3:17
  the
• 3:17
  big
• 3:18
  difference
• 3:19
  is
• 3:20
  the
• 3:21
  application
• 3:22
  of
• 3:22
  the
• 3:23
  data.
• 3:23
  Okay.
• 3:24
  And
• 3:24
  so
• 3:24
  we
• 3:25
  always
• 3:25
  look
• 3:25
  to
• 3:26
  try
• 3:26
  to
• 3:26
  find
• 3:27
  original,
• 3:28
  unique
• 3:28
  perspectives
• 3:29
  to
• 3:29
  create
• 3:30
  our
• 3:30
  own
• 3:30
  proprietary
• 3:31
  data,
• 3:31
  our
• 3:32
  own
• 3:32
  proprietary
• 3:33
  insights.
• 3:34
  Okay.
• 3:34
  And
• 3:34
  then
• 3:35
  we
• 3:35
  use
• 3:35
  that
• 3:35
  as
• 3:36
  a
• 3:36
  vehicle
• 3:37
  to
• 3:38
  try
• 3:38
  to
• 3:38
  help
• 3:39
  businesses
• 3:39
  grow
• 3:40
  their
• 3:40
  brand
• 3:40
  awareness
• 3:41
  within
• 3:41
  the
• 3:42
  retail
• 3:42
  sector.
• 3:43
  Okay.
• 3:43
  And
• 3:44
  if
• 3:44
  you
• 3:44
  can
• 3:44
  do
• 3:45
  that
• 3:45
  through
• 3:46
  kind
• 3:46
  of
• 3:46
  like
• 3:47
  amazing
• 3:47
  research
• 3:48
  and
• 3:49
  really
• 3:49
  focus
• 3:49
  on
• 3:50
  the
• 3:50
  topics
• 3:50
  that
• 3:50
  resonate
• 3:51
  with
• 3:51
  the
• 3:51
  industry,
• 3:52
  that's
• 3:52
  the
• 3:53
  kind
• 3:53
  of
• 3:53
  the
• 3:53
  blueprint.
• 3:53
  That's
• 3:54
  really
• 3:54
  what.
• 3:54
  Right.
• 3:54
  You
• 3:54
  get
• 3:54
  the
• 3:55
  reputation
• 3:55
  for
• 3:55
  it
• 3:55
  too.
• 3:56
  All
• 3:56
  right,
• 3:56
  so
• 3:57
  it
• 3:57
  seems
• 3:57
  like
• 3:57
  there's
• 3:58
  quite
• 3:58
  a
• 3:58
  lot
• 3:58
  going
• 3:58
  on
• 3:59
  in
• 3:59
  the
• 3:59
  macroeconomic
• 4:00
  environment
• 4:00
  now.
• 4:00
  Would
• 4:01
  you
• 4:01
  agree
• 4:01
  with
• 4:01
  that?
• 4:02
  You
• 4:02
  could
• 4:03
  say
• 4:03
  that.
• 4:03
  One
• 4:03
  could
• 4:03
  say
• 4:03
  that.
• 4:04
  One
• 4:04
  could
• 4:04
  say
• 4:04
  that
• 4:05
  things
• 4:05
  have
• 4:05
  changed
• 4:06
  pretty
• 4:06
  significantly
• 4:07
  over
• 4:07
  the
• 4:07
  last
• 4:08
  couple
• 4:08
  of
• 4:08
  months.
• 4:08
  Yeah.
• 4:08
  Right.
• 4:09
  Yeah.
• 4:09
  And
• 4:09
  probably
• 4:10
  going
• 4:10
  to
• 4:10
  change
• 4:10
  again
• 4:10
  in
• 4:11
  the
• 4:11
  time
• 4:11
  we
• 4:12
  take
• 4:12
  completing
• 4:12
  this
• 4:12
  10
• 4:13
  minute
• 4:13
  podcast.
• 4:14
  You
• 4:14
  were
• 4:14
  just
• 4:14
  on
• 4:15
  stage,
• 4:15
  right?
• 4:16
  Yeah.
• 4:16
  What
• 4:16
  did
• 4:16
  you,
• 4:16
  what
• 4:17
  did
• 4:17
  you
• 4:17
  talk
• 4:17
  about
• 4:17
  on
• 4:17
  stage?
• 4:17
  What'd
• 4:18
  you
• 4:18
  share?
• 4:20
  Well,
• 4:21
  the
• 4:21
  macroeconomic
• 4:22
  environment
• 4:23
  is
• 4:23
  incredibly
• 4:24
  complex
• 4:24
  at
• 4:24
  the
• 4:24
  moment.
• 4:24
  Right.
• 4:25
  And
• 4:25
  so
• 4:26
  we
• 4:26
  were
• 4:27
  looking
• 4:27
  at
• 4:28
  giving
• 4:29
  our
• 4:29
  view
• 4:29
  on
• 4:29
  what
• 4:30
  the
• 4:30
  outlook
• 4:30
  looks
• 4:31
  like
• 4:31
  for
• 4:31
  the
• 4:31
  retail
• 4:32
  sector.
• 4:32
  Okay.
• 4:33
  The
• 4:33
  last
• 4:33
  couple
• 4:33
  of
• 4:33
  months,
• 4:34
  there's
• 4:34
  been
• 4:34
  obviously
• 4:35
  a
• 4:35
  huge
• 4:35
  shift
• 4:36
  in
• 4:36
  what's
• 4:37
  happened
• 4:37
  with,
• 4:37
  with
• 4:38
  global
• 4:39
  energy
• 4:39
  markets
• 4:40
  because
• 4:40
  of
• 4:40
  what's
• 4:41
  happening
• 4:41
  with
• 4:41
  Iran
• 4:42
  at
• 4:42
  the
• 4:42
  moment.
• 4:43
  So
• 4:43
  for
• 4:43
  us,
• 4:43
  and
• 4:44
  what's
• 4:44
  important
• 4:44
  to
• 4:45
  our
• 4:45
  clients
• 4:46
  is
• 4:46
  how
• 4:46
  is
• 4:46
  that
• 4:47
  going
• 4:47
  to
• 4:47
  affect
• 4:48
  UK
• 4:48
  consumers?
• 4:49
  So
• 4:50
  another
• 4:50
  inflationary
• 4:51
  shock
• 4:51
  on
• 4:51
  top
• 4:52
  of
• 4:52
  all
• 4:52
  of
• 4:52
  the.
• 4:53
  All
• 4:53
  of
• 4:53
  the.
• 4:54
  The
• 4:54
  challenges
• 4:54
  households
• 4:55
  have
• 4:55
  had
• 4:55
  to
• 4:55
  deal
• 4:55
  with
• 4:56
  already
• 4:56
  because
• 4:56
  of
• 4:56
  the
• 4:56
  cost
• 4:56
  of
• 4:57
  living
• 4:57
  crisis.
• 4:57
  Right.
• 4:58
  But
• 4:58
  then
• 4:58
  crucially,
• 4:59
  what
• 4:59
  does
• 4:59
  that
• 4:59
  mean
• 5:00
  for
• 5:00
  the
• 5:00
  retail
• 5:00
  sector?
• 5:01
  How
• 5:01
  are
• 5:02
  consumers
• 5:02
  going
• 5:02
  to
• 5:02
  adapt
• 5:03
  their
• 5:03
  behavior?
• 5:04
  How
• 5:04
  are
• 5:04
  they
• 5:04
  going
• 5:04
  to
• 5:04
  shift
• 5:05
  their
• 5:05
  spending
• 5:07
  and
• 5:07
  all
• 5:07
  across
• 5:08
  the
• 5:08
  mix
• 5:08
  of
• 5:08
  everything
• 5:09
  else
• 5:09
  that's
• 5:09
  going
• 5:09
  on,
• 5:09
  whether
• 5:10
  that's
• 5:10
  social
• 5:10
  commerce,
• 5:11
  whether
• 5:11
  that's
• 5:12
  Gen
• 5:12
  AI,
• 5:13
  whether
• 5:13
  that's
• 5:13
  marketplaces,
• 5:14
  there's
• 5:15
  a
• 5:15
  whole
• 5:15
  range
• 5:16
  of
• 5:16
  other
• 5:16
  things
• 5:16
  that
• 5:16
  are
• 5:16
  going
• 5:17
  on
• 5:17
  against
• 5:18
  a
• 5:19
  complex
• 5:19
  backdrop
• 5:19
  of
• 5:20
  retailers
• 5:21
  suffering
• 5:22
  ongoing
• 5:22
  waves
• 5:23
  of
• 5:23
  rising
• 5:23
  operating
• 5:24
  costs.
• 5:24
  Right,
• 5:25
  right.
• 5:25
  And
• 5:25
  I
• 5:25
  want
• 5:25
  to
• 5:25
  get
• 5:25
  to
• 5:26
  some
• 5:26
  of
• 5:26
  those
• 5:26
  too.
• 5:26
  But
• 5:26
  I'm
• 5:26
  curious,
• 5:27
  as
• 5:28
  you
• 5:28
  spoke
• 5:28
  with
• 5:28
  the
• 5:28
  audience
• 5:29
  today,
• 5:29
  was
• 5:29
  there
• 5:29
  any
• 5:30
  one
• 5:30
  big
• 5:30
  takeaway
• 5:31
  that
• 5:31
  you
• 5:31
  wanted
• 5:32
  them
• 5:32
  to
• 5:32
  make
• 5:32
  sure
• 5:32
  that
• 5:32
  they
• 5:33
  left
• 5:33
  with
• 5:33
  or
• 5:33
  understood
• 5:34
  in
• 5:34
  terms
• 5:34
  of
• 5:35
  how
• 5:35
  to
• 5:35
  deal
• 5:35
  with
• 5:36
  operating
• 5:36
  in
• 5:37
  that
• 5:37
  macroeconomic
• 5:38
  environment
• 5:38
  right
• 5:38
  now?
• 5:39
  I
• 5:39
  think
• 5:39
  it's
• 5:40
  the
• 5:40
  pace
• 5:40
  of
• 5:40
  change.
• 5:40
  The
• 5:41
  pace,
• 5:41
  the
• 5:41
  pace
• 5:42
  of
• 5:42
  change
• 5:43
  is
• 5:43
  something
• 5:43
  that
• 5:43
  we
• 5:44
  haven't
• 5:44
  seen
• 5:45
  for,
• 5:46
  you
• 5:46
  know,
• 5:47
  the
• 5:47
  20
• 5:47
  years
• 5:47
  ever
• 5:49
  been,
• 5:49
  you
• 5:50
  know,
• 5:50
  studying
• 5:51
  the
• 5:51
  industry.
• 5:53
  So
• 5:53
  much
• 5:53
  of
• 5:53
  that
• 5:53
  pace
• 5:54
  is
• 5:54
  being
• 5:54
  driven
• 5:54
  by
• 5:55
  AI.
• 5:56
  Okay.
• 5:56
  And
• 5:57
  so
• 5:57
  there's,
• 5:57
  you
• 5:57
  know,
• 5:57
  there's
• 5:58
  a
• 5:58
  couple
• 5:58
  of
• 5:58
  ways
• 5:58
  to
• 5:58
  look
• 5:58
  at
• 5:59
  it,
• 5:59
  but
• 5:59
  there's
• 6:00
  how
• 6:00
  retailers
• 6:01
  and
• 6:01
  brands
• 6:02
  are
• 6:02
  integrating
• 6:03
  AI
• 6:03
  into
• 6:04
  their
• 6:04
  business,
• 6:04
  how
• 6:05
  they're
• 6:05
  driving
• 6:05
  operational
• 6:06
  efficiencies,
• 6:06
  how
• 6:07
  it's
• 6:07
  changing
• 6:07
  their
• 6:07
  operating
• 6:08
  models.
• 6:08
  But
• 6:09
  then
• 6:09
  from
• 6:09
  a
• 6:09
  consumer
• 6:10
  perspective,
• 6:11
  how's
• 6:11
  AI
• 6:12
  changing
• 6:12
  the
• 6:12
  way
• 6:12
  that
• 6:12
  people
• 6:13
  shop,
• 6:13
  how
• 6:13
  they
• 6:14
  research,
• 6:14
  how
• 6:14
  they
• 6:15
  discover
• 6:15
  new
• 6:15
  products,
• 6:15
  how
• 6:16
  they're
• 6:16
  using
• 6:16
  platforms
• 6:17
  like
• 6:17
  GPT,
• 6:18
  Claude
• 6:18
  Gemini
• 6:19
  to
• 6:20
  discover
• 6:20
  products,
• 6:21
  but
• 6:21
  eventually,
• 6:22
  and
• 6:22
  yeah,
• 6:23
  the
• 6:23
  US
• 6:23
  and
• 6:23
  is
• 6:24
  ahead
• 6:24
  of
• 6:24
  where
• 6:24
  we
• 6:24
  are
• 6:24
  in
• 6:25
  the
• 6:25
  UK
• 6:25
  but
• 6:25
  eventually
• 6:26
  how
• 6:26
  they're
• 6:26
  going
• 6:27
  to
• 6:27
  purchase
• 6:27
  products
• 6:28
  as
• 6:28
  well
• 6:28
  on
• 6:28
  these
• 6:28
  platforms
• 6:29
  and.
• 6:29
  What
• 6:29
  are
• 6:29
  the
• 6:29
  implications
• 6:30
  of.
• 6:30
  And
• 6:30
  what
• 6:30
  is
• 6:31
  your.
• 6:31
  Actually
• 6:31
  maybe
• 6:31
  ask
• 6:31
  me
• 6:32
  ask
• 6:32
  you
• 6:32
  that
• 6:32
  differently.
• 6:33
  What
• 6:33
  has
• 6:33
  your
• 6:33
  research
• 6:34
  shown
• 6:34
  in
• 6:35
  terms
• 6:35
  of
• 6:35
  the
• 6:35
  proclivity
• 6:36
  here
• 6:36
  in
• 6:36
  the
• 6:36
  UK
• 6:36
  for
• 6:36
  consumers
• 6:37
  to
• 6:37
  use
• 6:38
  those
• 6:38
  types
• 6:39
  of
• 6:39
  new
• 6:39
  AI
• 6:40
  tools
• 6:40
  and
• 6:40
  how
• 6:40
  is
• 6:41
  it
• 6:41
  impacting
• 6:42
  things
• 6:42
  like
• 6:42
  discoverability
• 6:43
  search
• 6:44
  for
• 6:44
  the
• 6:44
  average
• 6:44
  UK
• 6:45
  retailer?
• 6:46
  So
• 6:47
  the
• 6:47
  reality
• 6:47
  is
• 6:48
  that
• 6:49
  the
• 6:49
  use
• 6:49
  of
• 6:49
  AI
• 6:50
  is
• 6:50
  already
• 6:50
  widespread.
• 6:52
  And
• 6:52
  so
• 6:52
  what
• 6:52
  our
• 6:53
  research
• 6:53
  shows
• 6:53
  is
• 6:53
  that
• 6:54
  70%
• 6:54
  of
• 6:54
  consumers
• 6:55
  are
• 6:55
  already
• 6:55
  using
• 6:56
  AI
• 6:57
  on
• 6:57
  a
• 6:57
  regular
• 6:57
  basis.
• 6:58
  Okay.
• 6:58
  38%
• 6:59
  of
• 6:59
  consumers
• 7:00
  are
• 7:00
  using
• 7:00
  it
• 7:00
  for
• 7:01
  retail
• 7:01
  specific
• 7:02
  purposes.
• 7:02
  Okay.
• 7:03
  So
• 7:03
  this
• 7:03
  might
• 7:03
  be
• 7:04
  searching
• 7:04
  for
• 7:05
  better
• 7:05
  prices,
• 7:06
  it
• 7:06
  might
• 7:06
  be
• 7:06
  searching
• 7:07
  for
• 7:07
  technical
• 7:07
  information,
• 7:08
  it
• 7:08
  might
• 7:08
  be
• 7:08
  searching
• 7:09
  for,
• 7:10
  you
• 7:10
  know,
• 7:10
  next
• 7:10
  day
• 7:11
  delivery.
• 7:11
  But
• 7:12
  re.
• 7:12
  But
• 7:12
  consumers
• 7:13
  are
• 7:14
  increasingly
• 7:14
  using
• 7:15
  these
• 7:15
  platforms,
• 7:15
  platforms
• 7:16
  to
• 7:16
  help
• 7:16
  support
• 7:18
  their
• 7:18
  decision
• 7:19
  making
• 7:20
  on
• 7:20
  that
• 7:20
  customer
• 7:21
  journey.
• 7:22
  And
• 7:22
  I
• 7:22
  think
• 7:23
  one
• 7:23
  of
• 7:23
  the
• 7:23
  takeaways
• 7:24
  would
• 7:24
  be
• 7:24
  the
• 7:24
  pace
• 7:24
  of
• 7:24
  change
• 7:25
  and
• 7:25
  for
• 7:26
  businesses
• 7:26
  to
• 7:26
  understand
• 7:27
  how
• 7:28
  it's
• 7:28
  going
• 7:28
  to
• 7:28
  affect
• 7:28
  their
• 7:28
  consumers
• 7:29
  and
• 7:29
  where
• 7:29
  they
• 7:30
  sit
• 7:30
  in
• 7:30
  the
• 7:30
  market.
• 7:31
  Because
• 7:31
  the
• 7:31
  impact
• 7:31
  is
• 7:32
  going
• 7:32
  to
• 7:32
  be
• 7:32
  really
• 7:32
  uneven
• 7:33
  across
• 7:33
  different
• 7:34
  parts
• 7:34
  of
• 7:34
  the
• 7:34
  industry.
• 7:34
  It's
• 7:35
  going
• 7:35
  to
• 7:35
  be,
• 7:35
  the
• 7:35
  adoption
• 7:36
  is
• 7:36
  going
• 7:36
  to
• 7:36
  be
• 7:36
  uneven
• 7:36
  across
• 7:37
  different
• 7:38
  kind
• 7:38
  of
• 7:38
  consumer
• 7:38
  cohorts.
• 7:39
  Right?
• 7:39
  Yeah.
• 7:39
  And
• 7:39
  verticals
• 7:40
  just
• 7:40
  like
• 7:40
  we
• 7:40
  saw
• 7:40
  with
• 7:40
  E
• 7:40
  commerce,
• 7:41
  really
• 7:41
  when
• 7:41
  you
• 7:41
  think
• 7:41
  about
• 7:41
  it,
• 7:42
  at
• 7:42
  the
• 7:42
  end
• 7:42
  of
• 7:42
  the
• 7:42
  day,
• 7:43
  I'm
• 7:43
  curious.
• 7:43
  Lots
• 7:44
  of
• 7:44
  parallels
• 7:44
  there
• 7:44
  actually.
• 7:45
  Yeah,
• 7:45
  tell
• 7:45
  me
• 7:45
  more.
• 7:46
  Well,
• 7:47
  a
• 7:47
  reflection
• 7:47
  of
• 7:47
  talking
• 7:48
  to
• 7:48
  a
• 7:48
  lot
• 7:48
  of
• 7:48
  my
• 7:48
  retail
• 7:49
  clients
• 7:49
  is
• 7:49
  exactly
• 7:50
  that.
• 7:50
  You
• 7:50
  know,
• 7:51
  they're
• 7:51
  looking
• 7:51
  at
• 7:52
  the
• 7:52
  same
• 7:53
  conversations
• 7:53
  that
• 7:54
  they
• 7:54
  were
• 7:54
  having
• 7:54
  about
• 7:55
  e
• 7:55
  commerce
• 7:56
  20
• 7:56
  years
• 7:56
  ago.
• 7:57
  Do
• 7:57
  we
• 7:57
  have
• 7:57
  a
• 7:57
  website?
• 7:58
  Right.
• 7:58
  You
• 7:58
  know,
• 7:58
  how
• 7:59
  should
• 7:59
  we
• 7:59
  set
• 7:59
  it
• 7:59
  up?
• 8:00
  And
• 8:00
  then
• 8:00
  mobile
• 8:01
  comes
• 8:01
  along?
• 8:01
  Do
• 8:01
  we
• 8:01
  need
• 8:01
  to
• 8:01
  mobile
• 8:02
  optimize
• 8:02
  our
• 8:03
  site?
• 8:03
  Do
• 8:03
  we
• 8:03
  create
• 8:04
  an
• 8:04
  app?
• 8:04
  All
• 8:05
  of
• 8:05
  those
• 8:05
  conversations
• 8:06
  are
• 8:07
  reminiscent
• 8:08
  of,
• 8:09
  of
• 8:09
  what's
• 8:09
  happening
• 8:10
  at
• 8:10
  the
• 8:10
  moment.
• 8:10
  Yeah,
• 8:10
  it's
• 8:11
  really,
• 8:11
  I
• 8:11
  mean
• 8:11
  it's
• 8:11
  really
• 8:11
  interesting.
• 8:11
  Like,
• 8:12
  yeah,
• 8:12
  I've
• 8:12
  been,
• 8:12
  I
• 8:12
  was
• 8:12
  having
• 8:12
  a
• 8:13
  conversation
• 8:13
  on
• 8:13
  my
• 8:13
  weekly
• 8:13
  podcast
• 8:14
  yesterday
• 8:14
  about
• 8:14
  like,
• 8:14
  you
• 8:14
  know,
• 8:14
  should
• 8:15
  you
• 8:15
  do
• 8:15
  your
• 8:15
  app
• 8:15
  inside
• 8:16
  of
• 8:16
  ChatGPT?
• 8:17
  Like
• 8:17
  that's
• 8:17
  a
• 8:17
  legitimate
• 8:18
  question
• 8:18
  to
• 8:18
  be
• 8:18
  asking
• 8:19
  yourself.
• 8:19
  Is
• 8:19
  it,
• 8:19
  is
• 8:19
  the
• 8:19
  juice
• 8:20
  worth
• 8:20
  the
• 8:20
  squeeze
• 8:20
  on
• 8:21
  that
• 8:21
  approach?
• 8:21
  Which
• 8:22
  gets
• 8:22
  me
• 8:22
  my
• 8:22
  next
• 8:22
  question.
• 8:23
  Like
• 8:23
  you
• 8:23
  hadn't,
• 8:24
  when
• 8:24
  I
• 8:24
  was
• 8:24
  doing
• 8:24
  my
• 8:24
  research,
• 8:25
  you
• 8:25
  had
• 8:25
  an
• 8:25
  interesting
• 8:25
  three
• 8:26
  stage
• 8:26
  framework
• 8:26
  that
• 8:27
  you've
• 8:27
  been
• 8:27
  using
• 8:27
  to
• 8:28
  talk
• 8:28
  about
• 8:28
  agentic
• 8:29
  AI.
• 8:29
  Can
• 8:30
  you
• 8:30
  talk
• 8:30
  us
• 8:30
  through
• 8:30
  those
• 8:30
  stages?
• 8:31
  And
• 8:31
  then
• 8:31
  I'm
• 8:31
  curious
• 8:31
  where
• 8:32
  our
• 8:32
  conversation
• 8:32
  will
• 8:32
  go
• 8:33
  from
• 8:33
  there.
• 8:33
  Sure.
• 8:36
  So
• 8:36
  the
• 8:37
  adoption
• 8:38
  and
• 8:38
  use
• 8:39
  of
• 8:40
  AI,
• 8:40
  I
• 8:40
  think
• 8:41
  are
• 8:41
  gonna,
• 8:41
  is
• 8:42
  gonna
• 8:42
  manifest
• 8:43
  in
• 8:43
  three
• 8:43
  main
• 8:44
  ways.
• 8:44
  Okay.
• 8:45
  The
• 8:46
  first
• 8:46
  is
• 8:47
  off
• 8:48
  site
• 8:48
  AI.
• 8:48
  Yep.
• 8:49
  And
• 8:49
  so
• 8:49
  this
• 8:49
  is
• 8:50
  where
• 8:50
  consumers
• 8:51
  are
• 8:51
  using
• 8:51
  platforms
• 8:52
  like
• 8:52
  GPT,
• 8:52
  Claude
• 8:53
  Gemini
• 8:53
  to
• 8:53
  help
• 8:54
  in
• 8:54
  that
• 8:54
  research
• 8:55
  and
• 8:55
  discovery
• 8:56
  phase.
• 8:57
  But
• 8:57
  that
• 8:57
  is
• 8:58
  consumers
• 8:58
  using
• 8:59
  kind
• 8:59
  of
• 9:00
  those
• 9:00
  platforms
• 9:01
  but
• 9:01
  then
• 9:01
  increasingly
• 9:02
  using
• 9:03
  kind
• 9:03
  of
• 9:03
  AI
• 9:03
  agents
• 9:04
  to
• 9:04
  go
• 9:04
  off
• 9:04
  and
• 9:05
  do
• 9:05
  some
• 9:05
  of
• 9:05
  that
• 9:06
  research
• 9:06
  on
• 9:06
  their
• 9:07
  behalf.
• 9:07
  Right.
• 9:08
  The
• 9:08
  second
• 9:08
  area
• 9:09
  is
• 9:09
  around
• 9:10
  on
• 9:10
  site
• 9:10
  AI.
• 9:11
  And
• 9:11
  so
• 9:12
  this
• 9:12
  is
• 9:12
  for
• 9:13
  example,
• 9:13
  if
• 9:13
  you
• 9:14
  go
• 9:14
  on
• 9:14
  to
• 9:15
  Amazon,
• 9:15
  Amazon
• 9:16
  have
• 9:16
  got
• 9:16
  Rufus.
• 9:16
  Rufus.
• 9:17
  Yeah.
• 9:17
  And
• 9:17
  so
• 9:17
  you
• 9:17
  can
• 9:17
  go
• 9:18
  on,
• 9:18
  you
• 9:18
  can
• 9:18
  search,
• 9:19
  you
• 9:19
  can
• 9:19
  prompt
• 9:19
  and
• 9:20
  you
• 9:20
  can
• 9:20
  search
• 9:20
  for
• 9:20
  different,
• 9:21
  you
• 9:21
  can
• 9:21
  search
• 9:21
  for
• 9:22
  different
• 9:22
  products.
• 9:22
  But
• 9:23
  increasingly
• 9:24
  other
• 9:24
  retailers
• 9:25
  are
• 9:25
  doing
• 9:25
  that.
• 9:25
  So
• 9:26
  B
• 9:26
  and
• 9:26
  Q
• 9:26
  have
• 9:26
  got
• 9:27
  their
• 9:27
  own
• 9:27
  AI
• 9:27
  agent.
• 9:28
  H&
• 9:28
  M
• 9:28
  are
• 9:28
  experimenting
• 9:29
  in
• 9:29
  that
• 9:29
  area.
• 9:30
  Lots
• 9:30
  of
• 9:30
  retailers,
• 9:31
  we're
• 9:31
  experimenting
• 9:32
  with
• 9:32
  agents
• 9:33
  on
• 9:33
  site.
• 9:34
  I
• 9:34
  think
• 9:34
  what's
• 9:34
  really
• 9:35
  interesting
• 9:35
  from
• 9:35
  a
• 9:35
  consumer
• 9:36
  perspective
• 9:36
  is
• 9:37
  that
• 9:37
  in
• 9:37
  many
• 9:38
  instances
• 9:38
  consumers
• 9:39
  are
• 9:39
  becoming
• 9:40
  so
• 9:40
  much
• 9:40
  more
• 9:40
  accustomed
• 9:41
  to
• 9:42
  prompting.
• 9:42
  Right.
• 9:43
  So
• 9:43
  much
• 9:43
  more
• 9:43
  accustomed
• 9:44
  to
• 9:44
  having
• 9:45
  that
• 9:45
  exposure
• 9:45
  with
• 9:45
  platforms
• 9:46
  like
• 9:46
  GPT.
• 9:47
  Right.
• 9:47
  Their
• 9:47
  expectation
• 9:48
  of
• 9:49
  what
• 9:49
  they
• 9:49
  want
• 9:49
  from
• 9:50
  a
• 9:50
  retail
• 9:50
  experience
• 9:50
  on
• 9:51
  their
• 9:51
  website
• 9:52
  is
• 9:52
  going
• 9:52
  to
• 9:52
  need
• 9:53
  to
• 9:53
  reflect
• 9:54
  the
• 9:54
  kind
• 9:54
  of
• 9:54
  sophistication
• 9:55
  that
• 9:56
  an
• 9:56
  experience
• 9:56
  they're
• 9:57
  having
• 9:57
  with,
• 9:58
  with
• 9:59
  ChatGPT
• 9:59
  and,
• 10:00
  and
• 10:00
  other
• 10:00
  LLM
• 10:01
  models.
• 10:02
  Third
• 10:02
  area
• 10:03
  would
• 10:03
  be
• 10:03
  agentic
• 10:04
  browsers.
• 10:04
  Okay.
• 10:05
  And
• 10:05
  so
• 10:05
  this
• 10:06
  might
• 10:06
  be
• 10:06
  Comet
• 10:07
  with
• 10:08
  anthropic.
• 10:08
  Right.
• 10:10
  Or
• 10:10
  sorry,
• 10:11
  Perplexity.
• 10:12
  Yeah.
• 10:12
  Right.
• 10:12
  Or
• 10:13
  kind
• 10:13
  of
• 10:13
  agentic
• 10:14
  browser
• 10:14
  might
• 10:14
  be
• 10:14
  Gemini.
• 10:15
  But
• 10:15
  having
• 10:15
  an
• 10:16
  AI
• 10:16
  agent
• 10:16
  on
• 10:17
  a
• 10:17
  browser
• 10:18
  where
• 10:19
  a
• 10:19
  consumer
• 10:20
  can
• 10:20
  then
• 10:20
  ask
• 10:21
  it
• 10:21
  to
• 10:21
  do
• 10:21
  specific
• 10:22
  things
• 10:22
  within
• 10:23
  that
• 10:23
  environment,
• 10:24
  I
• 10:24
  think
• 10:25
  a
• 10:25
  really
• 10:25
  interesting
• 10:26
  development.
• 10:26
  Right.
• 10:27
  So
• 10:27
  that's
• 10:27
  a
• 10:28
  great
• 10:28
  framework.
• 10:28
  So
• 10:28
  I'm
• 10:29
  curious,
• 10:29
  as
• 10:29
  a
• 10:29
  retailer,
• 10:30
  should
• 10:30
  I
• 10:30
  be
• 10:30
  more
• 10:31
  focused
• 10:31
  on
• 10:31
  any
• 10:31
  piece
• 10:32
  of
• 10:32
  that
• 10:32
  relative
• 10:33
  to
• 10:33
  another?
• 10:36
  I
• 10:36
  think
• 10:36
  the
• 10:37
  challenge
• 10:38
  is
• 10:39
  discoverability.
• 10:40
  Discoverability.
• 10:41
  Okay.
• 10:41
  And
• 10:41
  so
• 10:42
  how
• 10:42
  are
• 10:43
  retail
• 10:43
  brands
• 10:44
  going
• 10:44
  to
• 10:44
  ensure
• 10:45
  that
• 10:45
  they
• 10:45
  can
• 10:46
  become,
• 10:48
  they
• 10:48
  can
• 10:49
  surface
• 10:49
  their
• 10:50
  content
• 10:50
  and
• 10:50
  be
• 10:50
  discoverable
• 10:52
  on
• 10:52
  these
• 10:52
  platforms?
• 10:53
  On
• 10:53
  the
• 10:53
  platforms.
• 10:53
  And
• 10:54
  so
• 10:54
  what
• 10:54
  does
• 10:54
  that
• 10:54
  mean
• 10:54
  in
• 10:55
  terms
• 10:55
  of
• 10:55
  the
• 10:55
  future
• 10:56
  of
• 10:56
  search?
• 10:56
  The,
• 10:57
  you
• 10:57
  know,
• 10:57
  the
• 10:57
  last
• 10:57
  25
• 10:58
  years
• 10:59
  has
• 10:59
  been
• 10:59
  an
• 11:00
  obsession
• 11:00
  over
• 11:00
  clicks
• 11:01
  and
• 11:01
  how
• 11:02
  to
• 11:02
  optimize
• 11:03
  SEO
• 11:03
  on
• 11:04
  platforms
• 11:04
  and
• 11:05
  obviously
• 11:05
  all
• 11:06
  of
• 11:06
  the
• 11:06
  techniques
• 11:06
  behind
• 11:06
  that.
• 11:07
  A
• 11:07
  new
• 11:07
  set
• 11:07
  of
• 11:08
  metrics
• 11:08
  is
• 11:08
  emerging
• 11:09
  around
• 11:09
  how
• 11:10
  they
• 11:10
  become
• 11:10
  discoverable
• 11:11
  on
• 11:11
  AI
• 11:11
  platforms
• 11:12
  and
• 11:12
  then
• 11:13
  also
• 11:13
  how
• 11:13
  do
• 11:13
  they
• 11:14
  need
• 11:14
  to
• 11:14
  think
• 11:14
  about
• 11:15
  their
• 11:16
  data
• 11:16
  structure,
• 11:17
  their,
• 11:18
  their,
• 11:19
  their,
• 11:20
  their,
• 11:21
  their
• 11:21
  strategy
• 11:22
  around
• 11:22
  how
• 11:22
  to
• 11:23
  deal
• 11:23
  with
• 11:23
  AI
• 11:23
  agents
• 11:24
  that
• 11:24
  are
• 11:24
  coming
• 11:24
  onto
• 11:25
  their
• 11:25
  website.
• 11:26
  All
• 11:26
  of
• 11:26
  these
• 11:27
  require
• 11:28
  a
• 11:28
  new
• 11:28
  mindset
• 11:29
  in
• 11:29
  terms
• 11:29
  of
• 11:30
  how
• 11:30
  they're
• 11:30
  going
• 11:30
  to
• 11:31
  be
• 11:31
  discovered.
• 11:31
  So
• 11:32
  you've
• 11:32
  got
• 11:32
  to
• 11:32
  still
• 11:32
  show
• 11:32
  up
• 11:33
  in
• 11:33
  search
• 11:33
  and
• 11:33
  whatever
• 11:34
  the,
• 11:34
  whatever
• 11:35
  form
• 11:35
  search
• 11:36
  takes
• 11:36
  in
• 11:36
  the
• 11:36
  future,
• 11:37
  you've
• 11:38
  got
• 11:38
  to
• 11:38
  show
• 11:38
  up
• 11:38
  there.
• 11:39
  Absolutely.
• 11:39
  And
• 11:39
  I
• 11:39
  think,
• 11:40
  and
• 11:40
  also
• 11:40
  just
• 11:40
  understanding
• 11:41
  that
• 11:42
  this
• 11:42
  is
• 11:42
  going
• 11:43
  to
• 11:43
  happen
• 11:43
  at
• 11:43
  different
• 11:45
  speed
• 11:46
  and
• 11:46
  to
• 11:46
  a
• 11:47
  different
• 11:47
  extent
• 11:48
  across
• 11:48
  different
• 11:49
  industry
• 11:49
  groups
• 11:50
  as
• 11:50
  well.
• 11:51
  So
• 11:51
  some
• 11:51
  of
• 11:51
  the
• 11:51
  research
• 11:51
  that
• 11:52
  we've
• 11:52
  done
• 11:52
  shows
• 11:53
  that,
• 11:53
  for
• 11:53
  example,
• 11:54
  consumers
• 11:54
  are
• 11:54
  more
• 11:55
  likely
• 11:55
  to
• 11:55
  use
• 11:55
  it
• 11:55
  for
• 11:56
  searching
• 11:56
  for
• 11:57
  electricals.
• 11:57
  Right.
• 11:58
  So
• 11:58
  and
• 11:58
  this
• 11:58
  is
• 11:59
  where
• 11:59
  the
• 11:59
  specification,.
• 11:59
  High
• 12:00
  consideration
• 12:00
  product
• 12:01
  categories,
• 12:01
  high
• 12:02
  consideration,
• 12:02
  high
• 12:03
  value.
• 12:04
  But
• 12:04
  also
• 12:04
  when
• 12:05
  you
• 12:05
  go
• 12:05
  into,
• 12:06
  as
• 12:06
  most
• 12:07
  consumers
• 12:07
  will
• 12:07
  go
• 12:07
  into
• 12:08
  the
• 12:08
  purchase
• 12:08
  of,
• 12:08
  let's
• 12:09
  say
• 12:09
  laptop.
• 12:09
  Yeah.
• 12:10
  They
• 12:10
  might
• 12:10
  know
• 12:10
  what
• 12:11
  brand,
• 12:11
  they
• 12:12
  might
• 12:12
  know,
• 12:12
  they've
• 12:12
  got
• 12:12
  price
• 12:13
  point
• 12:13
  in
• 12:13
  mind.
• 12:13
  They
• 12:14
  might
• 12:14
  know
• 12:14
  the
• 12:15
  memory
• 12:15
  they
• 12:15
  want,
• 12:15
  the
• 12:15
  processor
• 12:16
  speed
• 12:16
  they
• 12:17
  want,
• 12:17
  the
• 12:18
  weights
• 12:18
  or
• 12:18
  whatever.
• 12:19
  So
• 12:19
  those
• 12:19
  specifications
• 12:20
  need
• 12:21
  to
• 12:21
  be
• 12:21
  surfaced
• 12:22
  during
• 12:22
  that
• 12:23
  kind
• 12:23
  of
• 12:23
  prompt
• 12:24
  search
• 12:24
  experience
• 12:25
  on
• 12:25
  an
• 12:25
  LLM
• 12:26
  platform.
• 12:26
  And
• 12:27
  so
• 12:27
  those
• 12:27
  kinds
• 12:28
  of
• 12:28
  areas
• 12:28
  where
• 12:28
  it's
• 12:29
  more
• 12:29
  complex,
• 12:29
  the
• 12:30
  discoveries
• 12:31
  kind
• 12:31
  of
• 12:31
  phase
• 12:32
  is
• 12:32
  a
• 12:32
  bit
• 12:32
  more
• 12:32
  considered
• 12:33
  high
• 12:33
  value
• 12:34
  specifications.
• 12:36
  So
• 12:36
  understanding
• 12:37
  where
• 12:37
  it's
• 12:38
  going
• 12:38
  to
• 12:38
  impact
• 12:38
  the
• 12:38
  different
• 12:38
  sectors
• 12:39
  fastest
• 12:40
  and
• 12:40
  to
• 12:40
  a
• 12:40
  greater
• 12:41
  extent
• 12:41
  and
• 12:41
  how
• 12:42
  that's
• 12:42
  going
• 12:42
  to
• 12:42
  affect
• 12:42
  your
• 12:42
  business
• 12:43
  and
• 12:43
  your
• 12:43
  customers,
• 12:44
  I
• 12:44
  think
• 12:44
  that's
• 12:44
  really
• 12:44
  important.
• 12:45
  I'm
• 12:45
  curious,
• 12:45
  do
• 12:45
  you
• 12:45
  have
• 12:45
  any
• 12:46
  data
• 12:46
  on
• 12:46
  the
• 12:46
  agentic
• 12:46
  side
• 12:47
  of
• 12:47
  that?
• 12:47
  Like
• 12:48
  is
• 12:48
  there
• 12:49
  correlations
• 12:49
  in
• 12:49
  terms
• 12:49
  of
• 12:50
  where
• 12:50
  do
• 12:50
  you
• 12:50
  think
• 12:50
  agentic
• 12:51
  will
• 12:51
  adapt
• 12:52
  the
• 12:52
  fastest
• 12:52
  or
• 12:52
  impact
• 12:53
  the
• 12:53
  industries
• 12:53
  the
• 12:54
  fastest
• 12:54
  or
• 12:55
  the
• 12:55
  categories
• 12:56
  behaving
• 12:56
  differently
• 12:56
  in
• 12:57
  that
• 12:57
  respect
• 12:57
  from
• 12:58
  what
• 12:58
  the
• 12:58
  research
• 12:58
  is
• 12:58
  showing?
• 12:59
  Yeah.
• 13:00
  So
• 13:00
  in
• 13:01
  Terms
• 13:01
  of
• 13:01
  the,
• 13:01
  the
• 13:01
  biggest
• 13:02
  impact,
• 13:03
  electricals,
• 13:04
  I
• 13:04
  think
• 13:04
  is
• 13:04
  probably
• 13:05
  ranks
• 13:05
  at
• 13:05
  the
• 13:06
  top.
• 13:06
  Okay.
• 13:07
  At
• 13:07
  the
• 13:07
  other
• 13:07
  end
• 13:07
  of
• 13:07
  scale,
• 13:08
  it
• 13:08
  will
• 13:08
  be
• 13:09
  platform,
• 13:09
  it
• 13:10
  will
• 13:10
  be
• 13:10
  categories
• 13:10
  like,
• 13:11
  like
• 13:12
  jewelry.
• 13:13
  Oh.
• 13:13
  So
• 13:13
  a
• 13:13
  more
• 13:14
  tactile
• 13:14
  experience,
• 13:15
  higher
• 13:16
  value
• 13:16
  purchase.
• 13:17
  People
• 13:17
  want
• 13:17
  to
• 13:17
  have
• 13:17
  that
• 13:18
  personal
• 13:19
  experience.
• 13:19
  Okay.
• 13:20
  In
• 13:20
  store.
• 13:20
  Yeah.
• 13:21
  I
• 13:21
  think
• 13:21
  food's
• 13:21
  probably
• 13:22
  quite
• 13:22
  high
• 13:22
  up
• 13:22
  there.
• 13:23
  That's
• 13:23
  where
• 13:23
  I
• 13:23
  was
• 13:23
  that
• 13:23
  was
• 13:24
  leading
• 13:24
  the
• 13:24
  question.
• 13:25
  Yeah.
• 13:25
  So
• 13:25
  food
• 13:26
  say
• 13:26
  more.
• 13:27
  Low
• 13:27
  value,
• 13:28
  repetitive
• 13:28
  purchase,
• 13:30
  low
• 13:30
  risk
• 13:30
  if
• 13:30
  it
• 13:30
  goes
• 13:31
  wrong.
• 13:31
  Yep.
• 13:32
  80
• 13:32
  of
• 13:32
  consumers
• 13:33
  go
• 13:33
  to
• 13:34
  the
• 13:34
  same
• 13:34
  supermarket,
• 13:35
  80
• 13:35
  at
• 13:35
  a
• 13:35
  time
• 13:36
  and
• 13:36
  buy
• 13:36
  80
• 13:36
  of
• 13:37
  the
• 13:37
  same
• 13:37
  products.
• 13:37
  Right.
• 13:38
  And
• 13:38
  so
• 13:38
  that
• 13:38
  is
• 13:39
  kind
• 13:39
  of
• 13:39
  like
• 13:39
  ripe
• 13:39
  to
• 13:40
  be
• 13:40
  automated,
• 13:41
  but
• 13:41
  also
• 13:41
  some
• 13:42
  services
• 13:42
  as
• 13:42
  well.
• 13:43
  Okay.
• 13:44
  I
• 13:44
  think
• 13:44
  to
• 13:44
  myself,
• 13:46
  do
• 13:46
  you
• 13:46
  enjoy
• 13:46
  renewing
• 13:47
  your
• 13:47
  car
• 13:47
  insurance?
• 13:47
  No.
• 13:48
  No.
• 13:48
  No.
• 13:49
  Me
• 13:49
  neither.
• 13:49
  No.
• 13:50
  Yeah.
• 13:50
  And
• 13:50
  so
• 13:50
  I'd
• 13:51
  quite
• 13:51
  happily
• 13:51
  outsource
• 13:52
  the
• 13:53
  renewal
• 13:53
  of
• 13:53
  my
• 13:53
  car
• 13:53
  insurance
• 13:55
  if
• 13:55
  I
• 13:55
  knew
• 13:56
  that
• 13:56
  it
• 13:56
  was
• 13:56
  with
• 13:56
  a
• 13:56
  reputable
• 13:57
  company.
• 13:57
  I
• 13:57
  wasn't
• 13:58
  paying
• 13:58
  more
• 13:58
  than
• 13:58
  I
• 13:58
  did
• 13:59
  the
• 13:59
  previous
• 13:59
  year.
• 13:59
  Right.
• 14:00
  The
• 14:00
  reviews
• 14:00
  were
• 14:01
  pretty
• 14:01
  good.
• 14:01
  Right.
• 14:02
  And
• 14:02
  so
• 14:02
  actually
• 14:02
  I'll
• 14:02
  quite
• 14:03
  happily
• 14:03
  outsource
• 14:04
  the
• 14:05
  renewal
• 14:05
  process
• 14:06
  for
• 14:06
  car
• 14:06
  insurance.
• 14:07
  That's
• 14:07
  interesting.
• 14:08
  Or
• 14:08
  maybe
• 14:08
  my
• 14:08
  home
• 14:09
  insurance,
• 14:09
  maybe
• 14:10
  my
• 14:10
  energy
• 14:11
  supplier.
• 14:12
  So
• 14:12
  there
• 14:12
  are
• 14:12
  certain,
• 14:13
  certain
• 14:13
  product
• 14:13
  categories
• 14:14
  where
• 14:14
  I
• 14:14
  think
• 14:14
  could
• 14:14
  be
• 14:14
  disrupted.
• 14:15
  Quite
• 14:15
  the
• 14:15
  replacement
• 14:15
  of
• 14:16
  my
• 14:16
  air
• 14:16
  filters
• 14:16
  every
• 14:17
  three
• 14:17
  months
• 14:17
  or
• 14:18
  whatever.
• 14:18
  Yeah.
• 14:18
  My
• 14:19
  furnace
• 14:19
  filters.
• 14:20
  All
• 14:20
  right,
• 14:20
  so
• 14:21
  you've
• 14:21
  made
• 14:21
  your,
• 14:22
  you've
• 14:22
  made
• 14:22
  your
• 14:22
  career
• 14:23
  offering
• 14:23
  up
• 14:23
  research
• 14:24
  and
• 14:24
  insights
• 14:25
  based
• 14:25
  on
• 14:25
  like
• 14:25
  what
• 14:26
  we
• 14:26
  were
• 14:26
  just
• 14:26
  sharing
• 14:26
  with
• 14:26
  me.
• 14:27
  Now,
• 14:27
  I've
• 14:27
  never
• 14:27
  asked
• 14:28
  this
• 14:28
  question
• 14:28
  before,
• 14:28
  so
• 14:29
  I'm
• 14:29
  going
• 14:29
  to
• 14:29
  ask
• 14:29
  it
• 14:29
  of
• 14:29
  you.
• 14:30
  Is
• 14:30
  there,
• 14:31
  is
• 14:32
  there
• 14:32
  any
• 14:32
  question
• 14:32
  that
• 14:33
  you
• 14:33
  would
• 14:33
  like
• 14:33
  a
• 14:33
  senior
• 14:34
  retail
• 14:34
  executive
• 14:35
  to
• 14:35
  ask
• 14:35
  you,
• 14:35
  but
• 14:36
  that
• 14:36
  they
• 14:36
  never
• 14:36
  have?
• 14:38
  Great
• 14:39
  question.
• 14:41
  How
• 14:41
  soon
• 14:42
  can
• 14:42
  you
• 14:42
  send
• 14:42
  the
• 14:42
  invoice?
• 14:46
  Other
• 14:46
  than
• 14:46
  that.
• 14:47
  That's
• 14:47
  a
• 14:48
  great
• 14:48
  answer.
• 14:48
  That's
• 14:49
  a
• 14:49
  great
• 14:49
  answer.
• 14:49
  Oh,
• 14:49
  my
• 14:50
  God.
• 14:51
  Your
• 14:51
  payment
• 14:51
  terms
• 14:51
  are
• 14:52
  like
• 14:52
  a
• 14:52
  week,
• 14:52
  right?
• 14:53
  Yeah.
• 14:53
  Right.
• 14:53
  That's
• 14:54
  awesome.
• 14:54
  Awesome,
• 14:54
  awesome.
• 14:55
  Anything
• 14:55
  else?
• 14:56
  I
• 14:56
  think
• 14:56
  it's
• 14:57
  just
• 14:57
  how
• 14:58
  to
• 14:58
  integrate
• 14:59
  data
• 15:00
  into
• 15:01
  their
• 15:01
  strategic
• 15:02
  decision
• 15:03
  making
• 15:03
  and
• 15:04
  understanding
• 15:05
  that.
• 15:06
  That's
• 15:06
  really
• 15:06
  interesting.
• 15:07
  Yeah.
• 15:07
  Just
• 15:07
  like
• 15:08
  understanding
• 15:08
  that
• 15:09
  behavioral
• 15:10
  economics
• 15:10
  plays
• 15:10
  a
• 15:11
  really,
• 15:11
  really
• 15:11
  important
• 15:12
  role.
• 15:12
  So
• 15:12
  try
• 15:13
  to
• 15:13
  integrate
• 15:13
  that
• 15:13
  market
• 15:14
  information
• 15:15
  to
• 15:15
  lead
• 15:16
  the
• 15:16
  strategic
• 15:16
  decision
• 15:17
  making.
• 15:17
  That's
• 15:18
  based
• 15:18
  on
• 15:18
  kind
• 15:18
  of
• 15:19
  insights
• 15:19
  from
• 15:19
  the
• 15:19
  research
• 15:20
  that
• 15:20
  we
• 15:20
  do.
• 15:20
  Yeah,
• 15:20
  that's
• 15:20
  great.
• 15:21
  Good
• 15:21
  stuff.
• 15:21
  Good
• 15:21
  stuff.
• 15:22
  And
• 15:22
  great
• 15:22
  advice
• 15:22
  too.
• 15:23
  All
• 15:23
  right,
• 15:23
  well,
• 15:23
  Richard
• 15:24
  Lim,
• 15:24
  thank
• 15:24
  you
• 15:24
  for
• 15:24
  joining
• 15:25
  us.
• 15:25
  Thank
• 15:25
  you
• 15:25
  very
• 15:26
  much.
• 15:26
  Especially
• 15:26
  at
• 15:26
  the
• 15:26
  end
• 15:26
  of
• 15:26
  the
• 15:27
  day,
• 15:27
  on
• 15:27
  day
• 15:27
  two,
• 15:28
  it's
• 15:28
  always
• 15:28
  a
• 15:28
  pleasure
• 15:29
  to
• 15:29
  have
• 15:29
  a
• 15:30
  conversation
• 15:30
  with
• 15:30
  someone
• 15:31
  like
• 15:31
  yourself.
• 15:31
  So
• 15:32
  thanks
• 15:32
  to
• 15:32
  Vuzion
• 15:33
  and
• 15:33
  the
• 15:33
  Retail
• 15:34
  Technology
• 15:34
  show
• 15:35
  for
• 15:35
  helping
• 15:35
  us
• 15:36
  put
• 15:36
  together
• 15:36
  all
• 15:36
  this
• 15:36
  great
• 15:37
  content
• 15:37
  all
• 15:37
  week
• 15:38
  long
• 15:38
  with
• 15:38
  fabulous
• 15:38
  people
• 15:39
  like
• 15:39
  Richard.
• 15:39
  And
• 15:40
  to
• 15:40
  all
• 15:40
  of
• 15:40
  you
• 15:40
  out
• 15:41
  there,
• 15:41
  as
• 15:41
  always,
• 15:42
  be
• 15:42
  careful
• 15:42
  out
• 15:42
  there.