Latest / Omni Talk Retail / Cotswold Outdoor CEO on Building Better Stores and Winning in Outdoor Retail | RTS 2026

Transcript

Cotswold Outdoor CEO on Building Better Stores and Winning in Outdoor Retail | RTS 2026 · Omni Talk Retail

• 0:00
  Hello,
• 0:00
  everyone.
• 0:00
  I
• 0:01
  am
• 0:01
  Chris
• 0:01
  Walton,
• 0:01
  this
• 0:02
  is
• 0:02
  OmniTalk
• 0:02
  Retail.
• 0:03
  And
• 0:03
  we
• 0:03
  are
• 0:03
  coming
• 0:03
  to
• 0:03
  you
• 0:04
  live
• 0:04
  from
• 0:04
  the
• 0:04
  Retail
• 0:05
  Technology
• 0:05
  show
• 0:05
  in
• 0:06
  London
• 0:07
  from
• 0:07
  the
• 0:08
  Vuzion
• 0:08
  podcast
• 0:09
  studio.
• 0:09
  And
• 0:09
  joining
• 0:10
  me
• 0:10
  as
• 0:10
  our
• 0:10
  first
• 0:11
  guest
• 0:11
  of
• 0:12
  the
• 0:12
  day
• 0:12
  is
• 0:13
  Jamie
• 0:13
  Christo,
• 0:14
  the
• 0:14
  CEO
• 0:14
  of
• 0:15
  Cotswold
• 0:16
  Outdoor.
• 0:17
  Jamie,
• 0:17
  how
• 0:17
  are
• 0:18
  you?
• 0:18
  Welcome
• 0:18
  to
• 0:18
  omnitalk.
• 0:19
  I
• 0:19
  am
• 0:19
  amazing,
• 0:20
  and
• 0:20
  it's
• 0:20
  great
• 0:20
  to
• 0:21
  be
• 0:21
  here,
• 0:21
  Chris.
• 0:21
  Yeah,
• 0:21
  fair
• 0:22
  play
• 0:22
  to
• 0:22
  you
• 0:22
  for
• 0:22
  signing
• 0:23
  up
• 0:23
  to
• 0:23
  be
• 0:23
  the
• 0:23
  first
• 0:23
  one
• 0:23
  on
• 0:24
  this
• 0:24
  maiden
• 0:24
  voyage
• 0:25
  at
• 0:25
  the
• 0:25
  Retail
• 0:25
  Technology
• 0:26
  Show.
• 0:26
  All
• 0:26
  right,
• 0:26
  well,
• 0:26
  tell
• 0:27
  us
• 0:27
  about
• 0:27
  yourself
• 0:27
  and
• 0:27
  also
• 0:28
  about
• 0:28
  Cotswold
• 0:29
  Outdoor,
• 0:29
  too.
• 0:30
  Yeah.
• 0:30
  So
• 0:31
  I'm
• 0:31
  a
• 0:31
  retailer
• 0:32
  by
• 0:32
  trade.
• 0:33
  Have
• 0:33
  been
• 0:33
  since
• 0:34
  about
• 0:34
  the
• 0:34
  age
• 0:34
  of
• 0:34
  16.
• 0:36
  Foundational
• 0:36
  experience
• 0:37
  in
• 0:37
  buying
• 0:37
  and
• 0:38
  merchandising,
• 0:39
  and
• 0:39
  my
• 0:40
  career
• 0:40
  has
• 0:40
  enabled
• 0:41
  me
• 0:41
  to
• 0:41
  travel
• 0:41
  the
• 0:41
  world.
• 0:42
  So
• 0:42
  from
• 0:42
  the
• 0:42
  UK,
• 0:43
  started
• 0:43
  in
• 0:43
  department
• 0:44
  stores
• 0:44
  in
• 0:44
  the
• 0:44
  UK
• 0:46
  and
• 0:46
  then
• 0:46
  in
• 0:46
  about
• 0:47
  2005,
• 0:47
  we
• 0:47
  moved
• 0:48
  to
• 0:48
  Australia.
• 0:49
  More
• 0:49
  department
• 0:49
  store
• 0:50
  experience.
• 0:53
  Been
• 0:53
  in
• 0:53
  Australia
• 0:53
  for
• 0:53
  about
• 0:53
  15
• 0:54
  years,
• 0:55
  mainly
• 0:55
  department
• 0:55
  store,
• 0:56
  specialty
• 0:57
  fashion,
• 0:58
  and
• 0:58
  just
• 0:58
  rose
• 0:58
  up
• 0:59
  the
• 0:59
  ranks,
• 0:59
  really.
• 1:00
  That
• 1:00
  chapter
• 1:01
  in
• 1:01
  Australia
• 1:01
  also
• 1:01
  took
• 1:02
  us
• 1:02
  to
• 1:02
  South
• 1:02
  Africa
• 1:02
  for
• 1:02
  four
• 1:03
  years,
• 1:03
  so
• 1:04
  had
• 1:04
  the
• 1:04
  benefit
• 1:05
  of
• 1:05
  working
• 1:05
  in
• 1:05
  Cape
• 1:06
  Town,
• 1:06
  which
• 1:06
  was
• 1:06
  fantastic,
• 1:08
  and
• 1:08
  then
• 1:08
  a
• 1:08
  little
• 1:08
  bit
• 1:09
  more
• 1:09
  time
• 1:09
  back
• 1:09
  in
• 1:09
  Australia,
• 1:10
  and
• 1:10
  then
• 1:11
  because
• 1:11
  I
• 1:11
  love
• 1:11
  the
• 1:11
  Commonwealth
• 1:12
  so
• 1:12
  much,
• 1:12
  we
• 1:12
  ventured
• 1:12
  to
• 1:13
  Canada.
• 1:13
  So
• 1:13
  did
• 1:14
  just
• 1:14
  under
• 1:14
  a
• 1:14
  couple
• 1:14
  of
• 1:15
  years
• 1:15
  in
• 1:15
  Canada
• 1:16
  working
• 1:16
  for
• 1:16
  Hudson's
• 1:17
  Bay,
• 1:17
  and
• 1:17
  now
• 1:18
  back
• 1:18
  in
• 1:18
  the
• 1:18
  uk,
• 1:19
  where
• 1:19
  originally
• 1:20
  I'm
• 1:20
  from.
• 1:20
  So
• 1:20
  Cotswold
• 1:21
  Outdoor.
• 1:21
  And
• 1:22
  how
• 1:22
  long
• 1:22
  has
• 1:22
  it
• 1:22
  been
• 1:22
  at
• 1:22
  Cotswold?
• 1:23
  Just
• 1:23
  over
• 1:24
  18
• 1:24
  months.
• 1:24
  Eighteen
• 1:25
  months,
• 1:25
  okay.
• 1:25
  Yeah.
• 1:26
  Wow.
• 1:26
  So
• 1:26
  that.
• 1:26
  That
• 1:27
  is
• 1:27
  quite
• 1:27
  the
• 1:27
  very
• 1:28
  career,
• 1:28
  my
• 1:28
  friend.
• 1:29
  That's
• 1:29
  very
• 1:29
  transatlantic,
• 1:31
  trans,
• 1:31
  oceanic,
• 1:32
  whatever
• 1:32
  you
• 1:32
  want
• 1:32
  to
• 1:32
  call
• 1:32
  it.
• 1:33
  So
• 1:33
  I'm
• 1:33
  curious.
• 1:34
  Like,
• 1:34
  the
• 1:34
  one
• 1:34
  question
• 1:35
  I
• 1:35
  want
• 1:35
  to
• 1:35
  ask
• 1:35
  you
• 1:35
  right
• 1:35
  off
• 1:35
  the
• 1:35
  bat
• 1:36
  is
• 1:36
  what
• 1:36
  perspective
• 1:37
  do
• 1:37
  you
• 1:37
  get
• 1:37
  into
• 1:38
  how
• 1:38
  retail
• 1:38
  works,
• 1:39
  having
• 1:39
  that,
• 1:40
  you
• 1:40
  know,
• 1:40
  international
• 1:41
  experience
• 1:41
  than,
• 1:42
  say,
• 1:42
  somebody
• 1:42
  that
• 1:42
  traditionally,
• 1:43
  you
• 1:43
  know,
• 1:43
  probably
• 1:43
  stays
• 1:43
  in
• 1:44
  one
• 1:44
  country?
• 1:45
  I
• 1:45
  think
• 1:45
  the
• 1:45
  benefits
• 1:46
  of
• 1:46
  traveling
• 1:46
  is
• 1:47
  you
• 1:47
  just
• 1:47
  get
• 1:47
  opened
• 1:47
  up
• 1:48
  to
• 1:48
  new
• 1:48
  ideas.
• 1:48
  You
• 1:48
  get
• 1:49
  opened
• 1:49
  up
• 1:49
  to
• 1:49
  new
• 1:49
  cultures,
• 1:52
  and
• 1:52
  I
• 1:52
  think
• 1:52
  that
• 1:53
  stood
• 1:53
  me
• 1:53
  in
• 1:53
  really
• 1:53
  good
• 1:53
  stead.
• 1:54
  So,
• 1:54
  you
• 1:55
  know,
• 1:55
  and
• 1:56
  there's
• 1:56
  so
• 1:56
  much
• 1:56
  diversity
• 1:56
  between
• 1:57
  the
• 1:57
  uk,
• 1:57
  Australia,
• 1:58
  South
• 1:58
  Africa,
• 1:58
  and
• 1:58
  Canada.
• 1:59
  So
• 1:59
  you
• 2:00
  just
• 2:00
  get
• 2:00
  a
• 2:00
  different,
• 2:00
  fresh
• 2:01
  way
• 2:01
  of
• 2:01
  doing
• 2:01
  things,
• 2:02
  or,
• 2:02
  you
• 2:02
  know,
• 2:03
  you
• 2:03
  often
• 2:03
  land
• 2:03
  in
• 2:04
  a
• 2:04
  new
• 2:04
  business
• 2:04
  or
• 2:05
  a
• 2:05
  new
• 2:05
  country
• 2:05
  and
• 2:05
  things
• 2:06
  are
• 2:06
  done
• 2:06
  slightly
• 2:06
  different.
• 2:06
  You
• 2:07
  think,
• 2:07
  oh,
• 2:07
  that's
• 2:07
  great.
• 2:08
  I
• 2:08
  didn't
• 2:08
  think
• 2:08
  of
• 2:09
  doing
• 2:09
  it
• 2:09
  that
• 2:09
  way
• 2:09
  or
• 2:10
  so
• 2:10
  I
• 2:11
  think
• 2:11
  you
• 2:11
  just
• 2:11
  get
• 2:11
  this
• 2:12
  sort
• 2:12
  of
• 2:12
  hybrid
• 2:13
  of
• 2:13
  different
• 2:14
  approaches
• 2:14
  and
• 2:14
  different
• 2:14
  ways
• 2:15
  of
• 2:15
  thinking
• 2:15
  which
• 2:15
  can
• 2:16
  just
• 2:16
  make
• 2:16
  you
• 2:16
  think
• 2:16
  differently.
• 2:17
  And
• 2:17
  every
• 2:18
  country
• 2:18
  has
• 2:18
  its
• 2:18
  strengths
• 2:19
  and
• 2:19
  weaknesses,
• 2:19
  and
• 2:19
  you
• 2:20
  can
• 2:20
  sort
• 2:20
  of
• 2:20
  mold
• 2:20
  all
• 2:20
  those
• 2:21
  together
• 2:21
  to
• 2:21
  work
• 2:22
  out
• 2:22
  what's
• 2:22
  best.
• 2:22
  I
• 2:23
  imagine
• 2:23
  it
• 2:23
  helps
• 2:23
  with
• 2:24
  the
• 2:24
  intangible.
• 2:24
  Side
• 2:25
  of
• 2:25
  leading
• 2:25
  people
• 2:25
  too.
• 2:26
  Right.
• 2:26
  Because
• 2:26
  you're
• 2:26
  able
• 2:26
  to
• 2:27
  see
• 2:27
  how
• 2:27
  different
• 2:27
  cultures
• 2:28
  react
• 2:28
  to
• 2:29
  different
• 2:29
  leadership
• 2:29
  styles
• 2:30
  and
• 2:30
  different
• 2:30
  tactics.
• 2:31
  You
• 2:31
  take
• 2:31
  as
• 2:31
  a
• 2:32
  leader,
• 2:32
  as
• 2:32
  an.
• 2:32
  Executive,
• 2:33
  and
• 2:33
  you
• 2:33
  can
• 2:33
  make
• 2:33
  some
• 2:34
  mistakes
• 2:34
  as
• 2:34
  well
• 2:34
  because
• 2:35
  culturally
• 2:35
  those
• 2:36
  countries
• 2:36
  are
• 2:36
  quite
• 2:36
  different.
• 2:37
  I
• 2:37
  mean,
• 2:37
  you
• 2:37
  know,
• 2:38
  UK
• 2:38
  is
• 2:38
  quite
• 2:38
  structured
• 2:39
  and,
• 2:40
  you
• 2:40
  know,
• 2:41
  quite
• 2:41
  disciplined.
• 2:42
  Australia's
• 2:42
  quite
• 2:43
  laid
• 2:43
  back,
• 2:43
  but
• 2:43
  also
• 2:44
  very
• 2:44
  well
• 2:44
  structured
• 2:44
  as
• 2:44
  well
• 2:45
  and
• 2:45
  are
• 2:45
  working,
• 2:45
  but
• 2:46
  probably
• 2:46
  from
• 2:46
  a
• 2:46
  different
• 2:47
  slant.
• 2:47
  And
• 2:48
  in
• 2:48
  South
• 2:48
  Africa,
• 2:48
  completely
• 2:49
  different.
• 2:49
  And
• 2:50
  I
• 2:50
  think
• 2:50
  the
• 2:50
  move
• 2:50
  to
• 2:50
  South
• 2:51
  Africa
• 2:51
  was
• 2:52
  the
• 2:52
  biggest
• 2:53
  cultural
• 2:53
  difference
• 2:54
  because
• 2:55
  even
• 2:55
  in
• 2:55
  South
• 2:55
  Africa,
• 2:56
  you're
• 2:56
  dealing
• 2:56
  with
• 2:57
  a
• 2:57
  number
• 2:58
  of
• 2:58
  different
• 2:58
  subcultures
• 2:59
  in
• 2:59
  South
• 3:00
  Africa.
• 3:00
  So,
• 3:01
  yeah,
• 3:01
  you
• 3:01
  have
• 3:01
  to
• 3:02
  learn
• 3:02
  to
• 3:02
  listen,
• 3:03
  you
• 3:03
  have
• 3:03
  to
• 3:03
  learn
• 3:03
  to
• 3:03
  be
• 3:04
  adaptable
• 3:04
  and
• 3:04
  flexible
• 3:05
  and
• 3:06
  you
• 3:06
  have
• 3:07
  to
• 3:07
  learn
• 3:07
  to
• 3:07
  approach
• 3:08
  different
• 3:08
  people
• 3:08
  and
• 3:08
  different
• 3:09
  cultures
• 3:09
  in
• 3:09
  different
• 3:09
  ways.
• 3:10
  But
• 3:10
  there's
• 3:11
  been
• 3:11
  some
• 3:11
  mistakes
• 3:11
  along
• 3:11
  the
• 3:12
  way,
• 3:12
  trust
• 3:12
  me.
• 3:13
  No
• 3:13
  doubt,
• 3:13
  no
• 3:13
  doubt.
• 3:14
  And
• 3:14
  all
• 3:14
  different
• 3:14
  accents,
• 3:15
  too.
• 3:15
  Same
• 3:15
  language,
• 3:16
  but
• 3:16
  different
• 3:16
  accents.
• 3:18
  Yeah,
• 3:18
  I
• 3:18
  think
• 3:18
  my
• 3:19
  accent,
• 3:19
  it
• 3:19
  depends
• 3:20
  who
• 3:20
  I
• 3:20
  talk
• 3:20
  to.
• 3:20
  If
• 3:20
  I
• 3:21
  go
• 3:21
  back
• 3:21
  to
• 3:21
  Australia
• 3:21
  or
• 3:21
  I
• 3:22
  talk
• 3:22
  to
• 3:22
  someone
• 3:22
  from
• 3:22
  Australia,
• 3:23
  I
• 3:23
  tend
• 3:23
  to
• 3:24
  start
• 3:24
  going
• 3:24
  up
• 3:24
  at
• 3:24
  the
• 3:25
  end
• 3:25
  of
• 3:25
  sentences
• 3:25
  and.
• 3:26
  But
• 3:26
  yeah,
• 3:27
  you
• 3:27
  tend
• 3:28
  to,
• 3:28
  you
• 3:28
  know,
• 3:28
  your
• 3:29
  accent
• 3:29
  tends
• 3:29
  to
• 3:29
  mold
• 3:30
  a
• 3:30
  little
• 3:30
  bit
• 3:30
  over
• 3:30
  time,
• 3:31
  but
• 3:31
  it
• 3:31
  really
• 3:31
  depends
• 3:31
  who
• 3:32
  you're
• 3:32
  talking
• 3:32
  to.
• 3:32
  Right,
• 3:33
  right.
• 3:33
  All
• 3:33
  right,
• 3:33
  so
• 3:33
  now,
• 3:33
  CEO
• 3:34
  of
• 3:34
  Cotswold,
• 3:34
  as
• 3:34
  you
• 3:35
  said,
• 3:35
  just
• 3:35
  for
• 3:35
  a
• 3:35
  short
• 3:35
  period
• 3:36
  of
• 3:36
  time.
• 3:36
  What
• 3:36
  was
• 3:36
  your
• 3:36
  assessment
• 3:37
  of
• 3:37
  the
• 3:37
  business
• 3:37
  when
• 3:38
  you
• 3:38
  took
• 3:38
  it
• 3:38
  over
• 3:39
  and
• 3:39
  what.
• 3:39
  Is
• 3:39
  your
• 3:40
  assessment
• 3:40
  of
• 3:40
  it
• 3:40
  now?
• 3:43
  So,
• 3:43
  as
• 3:43
  I
• 3:43
  said,
• 3:43
  my
• 3:44
  background's
• 3:44
  been,
• 3:44
  you
• 3:45
  know,
• 3:45
  a
• 3:45
  number
• 3:45
  of
• 3:45
  years
• 3:45
  in
• 3:46
  department
• 3:46
  stores,
• 3:46
  and
• 3:47
  one
• 3:47
  of
• 3:47
  my
• 3:47
  first
• 3:47
  sort
• 3:48
  of
• 3:48
  light
• 3:48
  bulb
• 3:48
  moments
• 3:48
  when
• 3:49
  I
• 3:49
  joined
• 3:49
  Cotswold
• 3:49
  is
• 3:50
  that
• 3:50
  we
• 3:50
  are
• 3:50
  a
• 3:50
  department
• 3:51
  store
• 3:51
  for
• 3:51
  the
• 3:51
  outdoors.
• 3:52
  So
• 3:52
  we
• 3:52
  sell,
• 3:53
  you
• 3:53
  know,
• 3:53
  we
• 3:53
  specialize
• 3:54
  in
• 3:54
  running,
• 3:54
  snow
• 3:55
  sports
• 3:56
  and
• 3:56
  outdoors.
• 3:57
  And
• 3:57
  we
• 3:58
  sell
• 3:58
  primarily
• 3:59
  brands,
• 3:59
  so
• 4:00
  about
• 4:00
  70,
• 4:00
  80%
• 4:01
  brands
• 4:01
  and,
• 4:01
  you
• 4:02
  know,
• 4:02
  some
• 4:02
  private
• 4:02
  label.
• 4:03
  But
• 4:03
  we
• 4:05
  quickly
• 4:06
  sort
• 4:06
  of
• 4:06
  got
• 4:07
  my
• 4:07
  head
• 4:07
  around
• 4:07
  the
• 4:07
  business
• 4:08
  and
• 4:08
  I
• 4:08
  did
• 4:08
  that
• 4:08
  by
• 4:08
  spending
• 4:09
  my
• 4:09
  first
• 4:10
  month
• 4:10
  in
• 4:10
  stores,
• 4:11
  so
• 4:11
  traveled
• 4:11
  all
• 4:11
  around
• 4:11
  the
• 4:11
  uk
• 4:13
  really
• 4:13
  wanted
• 4:13
  to
• 4:14
  get
• 4:14
  an
• 4:14
  understanding
• 4:15
  of
• 4:15
  business
• 4:15
  from
• 4:15
  the
• 4:15
  shop
• 4:16
  floor.
• 4:16
  And
• 4:17
  it's
• 4:17
  a
• 4:17
  business
• 4:17
  that's
• 4:18
  founded
• 4:18
  on
• 4:18
  service.
• 4:19
  So
• 4:19
  if
• 4:19
  you're
• 4:20
  coming
• 4:20
  in
• 4:20
  for
• 4:20
  a,
• 4:20
  you
• 4:21
  know,
• 4:21
  you
• 4:21
  know,
• 4:22
  a
• 4:22
  good
• 4:22
  pair
• 4:22
  of
• 4:22
  hiking
• 4:22
  boots
• 4:23
  and
• 4:23
  you're
• 4:23
  going
• 4:23
  to
• 4:23
  be
• 4:23
  climbing
• 4:23
  a
• 4:24
  mountain
• 4:24
  or
• 4:24
  you're
• 4:24
  going
• 4:24
  skiing,
• 4:25
  you
• 4:25
  really
• 4:26
  want
• 4:26
  good
• 4:26
  advice.
• 4:27
  And
• 4:27
  I
• 4:27
  think
• 4:27
  the
• 4:28
  foundation
• 4:29
  of
• 4:29
  our
• 4:29
  business
• 4:29
  is
• 4:30
  the
• 4:30
  fact
• 4:30
  that
• 4:30
  we
• 4:30
  give
• 4:31
  our
• 4:31
  store
• 4:32
  colleagues
• 4:33
  have
• 4:33
  great
• 4:34
  knowledge
• 4:34
  and
• 4:34
  they
• 4:34
  give
• 4:34
  great
• 4:35
  advice.
• 4:35
  So
• 4:35
  our
• 4:35
  customers
• 4:36
  expect
• 4:36
  service.
• 4:37
  So
• 4:37
  they're
• 4:37
  buying
• 4:38
  premium
• 4:38
  products,
• 4:38
  they
• 4:39
  expect
• 4:39
  service
• 4:40
  and
• 4:40
  they
• 4:40
  want
• 4:41
  things
• 4:41
  that
• 4:41
  are
• 4:41
  going
• 4:41
  to
• 4:41
  Protect
• 4:42
  them,
• 4:42
  you
• 4:43
  know,
• 4:43
  on
• 4:43
  whatever
• 4:43
  mission
• 4:44
  that
• 4:44
  they're
• 4:44
  trying
• 4:44
  to
• 4:44
  shop
• 4:44
  for.
• 4:45
  And
• 4:45
  is
• 4:45
  that
• 4:45
  something
• 4:45
  you
• 4:45
  noticed
• 4:46
  when
• 4:46
  you
• 4:46
  first
• 4:46
  came
• 4:46
  in
• 4:47
  and
• 4:47
  then
• 4:47
  have
• 4:47
  tried
• 4:47
  to
• 4:48
  continue
• 4:48
  to
• 4:48
  reinforce
• 4:49
  it
• 4:49
  or
• 4:49
  have
• 4:49
  you
• 4:49
  had
• 4:50
  to
• 4:50
  develop
• 4:50
  that
• 4:50
  muscle
• 4:50
  even
• 4:51
  more
• 4:51
  over
• 4:51
  time?
• 4:52
  I
• 4:52
  noticed
• 4:52
  it
• 4:53
  straight
• 4:53
  away
• 4:53
  because
• 4:53
  I
• 4:54
  worked
• 4:54
  on
• 4:54
  the
• 4:54
  shop
• 4:54
  floor
• 4:54
  and
• 4:55
  you
• 4:55
  know,
• 4:55
  I
• 4:55
  worked
• 4:56
  on
• 4:56
  shop
• 4:56
  floor
• 4:56
  since
• 4:56
  age
• 4:57
  16.
• 4:57
  And
• 4:58
  if
• 4:58
  you're
• 4:58
  selling
• 4:58
  T
• 4:59
  shirts
• 4:59
  and
• 4:59
  shorts
• 4:59
  and
• 5:00
  you
• 5:00
  know,
• 5:00
  even
• 5:00
  if
• 5:00
  you
• 5:00
  get
• 5:01
  thrown
• 5:01
  into
• 5:01
  women's
• 5:01
  wear
• 5:01
  and
• 5:01
  you're
• 5:02
  trying
• 5:02
  to
• 5:02
  sell
• 5:02
  dresses,
• 5:02
  you
• 5:02
  can
• 5:03
  sort
• 5:03
  of
• 5:03
  work
• 5:03
  it
• 5:03
  out.
• 5:04
  When
• 5:04
  you're
• 5:05
  trying
• 5:05
  to
• 5:05
  sell
• 5:06
  skis
• 5:06
  or
• 5:07
  walking
• 5:07
  boots
• 5:07
  or
• 5:09
  a
• 5:09
  pair
• 5:09
  of
• 5:09
  running
• 5:09
  shoes
• 5:10
  to
• 5:10
  a
• 5:10
  marathon
• 5:11
  runner.
• 5:12
  Some
• 5:12
  of
• 5:12
  our
• 5:12
  customers
• 5:13
  are
• 5:13
  very
• 5:13
  serious
• 5:13
  athletes.
• 5:14
  You
• 5:14
  can't
• 5:15
  fake
• 5:15
  that.
• 5:15
  So
• 5:16
  I
• 5:16
  think
• 5:17
  there's
• 5:17
  a
• 5:17
  three
• 5:17
  to
• 5:18
  six
• 5:18
  month
• 5:18
  learning
• 5:19
  period
• 5:19
  to
• 5:19
  get
• 5:20
  up
• 5:20
  to
• 5:20
  speed
• 5:20
  in
• 5:20
  terms
• 5:20
  of
• 5:21
  being
• 5:21
  knowledgeable
• 5:21
  about
• 5:21
  all
• 5:22
  of
• 5:22
  our
• 5:22
  categories.
• 5:23
  So,
• 5:23
  yeah,
• 5:23
  we've
• 5:24
  doubled
• 5:24
  down
• 5:24
  on
• 5:24
  service,
• 5:24
  we've
• 5:25
  doubled
• 5:25
  down
• 5:25
  on
• 5:25
  culture.
• 5:26
  One
• 5:26
  of
• 5:26
  the
• 5:27
  things
• 5:27
  that
• 5:27
  we've
• 5:27
  really
• 5:28
  tried
• 5:28
  to
• 5:28
  focus
• 5:28
  on
• 5:29
  is
• 5:29
  actually
• 5:29
  getting
• 5:30
  the
• 5:30
  knowledge
• 5:31
  or
• 5:31
  the
• 5:31
  product
• 5:32
  knowledge
• 5:32
  to
• 5:33
  the
• 5:33
  consumer
• 5:33
  for
• 5:33
  those
• 5:33
  consumers
• 5:34
  that
• 5:34
  don't
• 5:35
  necessarily
• 5:35
  have
• 5:35
  the
• 5:36
  time
• 5:36
  to
• 5:36
  or
• 5:36
  want
• 5:37
  to
• 5:37
  engage
• 5:37
  with
• 5:37
  a
• 5:37
  store
• 5:38
  colleague.
• 5:38
  So
• 5:39
  one
• 5:39
  of
• 5:39
  the
• 5:39
  things
• 5:39
  I
• 5:39
  observe
• 5:40
  is
• 5:40
  all
• 5:40
  of
• 5:40
  the
• 5:40
  knowledge
• 5:41
  was
• 5:41
  in
• 5:41
  our
• 5:42
  sales
• 5:42
  associates
• 5:43
  heads.
• 5:43
  But
• 5:44
  we
• 5:44
  weren't
• 5:44
  doing
• 5:44
  an
• 5:45
  amazing
• 5:45
  job
• 5:46
  of
• 5:46
  translating
• 5:47
  all
• 5:47
  the
• 5:47
  knowledge
• 5:47
  that's
• 5:48
  with
• 5:48
  the
• 5:48
  brands.
• 5:48
  And
• 5:48
  I'm
• 5:49
  talking
• 5:49
  about
• 5:49
  Patagonia,
• 5:50
  Terex,
• 5:50
  North
• 5:51
  Face
• 5:51
  Rap,
• 5:52
  you
• 5:52
  know,
• 5:52
  Asics
• 5:53
  Hocker
• 5:54
  on
• 5:54
  all
• 5:54
  these
• 5:54
  like
• 5:54
  fantastic
• 5:55
  brands
• 5:55
  that
• 5:55
  have
• 5:56
  all,
• 5:56
  all
• 5:56
  of
• 5:56
  this
• 5:56
  R
• 5:56
  and
• 5:56
  D
• 5:57
  knowledge
• 5:57
  they're
• 5:57
  trying
• 5:57
  to
• 5:58
  get
• 5:58
  to
• 5:58
  the
• 5:58
  consumer.
• 5:59
  And
• 5:59
  we
• 6:00
  were
• 6:00
  doing
• 6:00
  it
• 6:00
  through
• 6:00
  our
• 6:00
  sales
• 6:01
  associates,
• 6:01
  which
• 6:01
  is
• 6:02
  great
• 6:02
  if
• 6:02
  the
• 6:03
  store's
• 6:03
  busy
• 6:03
  or
• 6:04
  you
• 6:04
  get
• 6:04
  some
• 6:04
  people
• 6:05
  don't
• 6:05
  want
• 6:05
  to
• 6:05
  talk
• 6:05
  to
• 6:05
  people.
• 6:07
  We
• 6:07
  weren't
• 6:07
  doing
• 6:07
  a
• 6:08
  great
• 6:08
  job
• 6:08
  of
• 6:08
  conveying
• 6:09
  that
• 6:09
  product
• 6:10
  information
• 6:10
  to
• 6:11
  the
• 6:11
  consumer.
• 6:12
  So
• 6:12
  we're
• 6:12
  doing
• 6:13
  more
• 6:13
  of
• 6:13
  that
• 6:13
  now
• 6:13
  through,
• 6:14
  you
• 6:14
  know,
• 6:14
  we've
• 6:14
  opened
• 6:15
  up,
• 6:15
  opened
• 6:15
  up
• 6:15
  a
• 6:16
  retail
• 6:16
  media
• 6:16
  network.
• 6:16
  So
• 6:17
  we've
• 6:17
  got
• 6:17
  more
• 6:17
  screens
• 6:17
  in
• 6:18
  stores,
• 6:18
  we're
• 6:18
  pushing
• 6:19
  content
• 6:19
  to
• 6:20
  consumers
• 6:20
  and
• 6:20
  then
• 6:20
  we're
• 6:21
  doing
• 6:21
  that
• 6:21
  via,
• 6:22
  you
• 6:22
  know,
• 6:22
  I
• 6:22
  think
• 6:22
  we're
• 6:22
  doing
• 6:22
  a
• 6:22
  better
• 6:22
  job
• 6:23
  via
• 6:23
  the
• 6:23
  website
• 6:23
  and
• 6:24
  via
• 6:24
  email
• 6:25
  and
• 6:25
  via
• 6:25
  socials.
• 6:26
  We're
• 6:26
  actually
• 6:26
  trying
• 6:26
  to
• 6:27
  get
• 6:27
  that
• 6:28
  product
• 6:28
  knowledge
• 6:29
  that
• 6:29
  our
• 6:29
  associates
• 6:30
  have
• 6:30
  in
• 6:30
  different
• 6:31
  mediums
• 6:31
  to
• 6:31
  hit
• 6:31
  the
• 6:32
  customer.
• 6:32
  Right.
• 6:32
  Because
• 6:33
  all
• 6:33
  those
• 6:33
  brands
• 6:33
  have
• 6:33
  really
• 6:34
  great
• 6:34
  content
• 6:34
  too.
• 6:35
  Right.
• 6:35
  That
• 6:35
  if
• 6:35
  you
• 6:36
  can
• 6:36
  plug
• 6:36
  into
• 6:36
  and
• 6:37
  showcase
• 6:37
  to
• 6:37
  your
• 6:37
  consumer,
• 6:38
  it
• 6:38
  helps
• 6:38
  them
• 6:38
  out
• 6:38
  in
• 6:38
  their
• 6:39
  journey.
• 6:39
  They
• 6:39
  have
• 6:39
  great
• 6:40
  knowledge
• 6:41
  and
• 6:41
  they
• 6:41
  don't
• 6:42
  tend
• 6:42
  to
• 6:42
  have
• 6:42
  many
• 6:42
  physical
• 6:42
  stores.
• 6:44
  So
• 6:44
  the
• 6:45
  one
• 6:45
  thing
• 6:45
  we
• 6:45
  have
• 6:45
  is
• 6:45
  a
• 6:46
  lot
• 6:46
  of
• 6:46
  stores
• 6:46
  across
• 6:46
  the
• 6:46
  UK,
• 6:46
  we
• 6:47
  have
• 6:47
  70
• 6:47
  stores.
• 6:49
  So
• 6:50
  another
• 6:50
  learning
• 6:50
  when
• 6:51
  I
• 6:51
  joined
• 6:51
  the
• 6:51
  business
• 6:51
  was
• 6:51
  our
• 6:52
  brand
• 6:52
  partners
• 6:53
  had
• 6:53
  all
• 6:53
  this
• 6:53
  information,
• 6:54
  they
• 6:54
  wanted
• 6:54
  it
• 6:54
  to
• 6:55
  get
• 6:55
  to
• 6:55
  the
• 6:55
  consumer.
• 6:55
  They
• 6:56
  were
• 6:56
  frustrated
• 6:56
  because
• 6:57
  they
• 6:57
  necessarily
• 6:58
  weren't
• 6:58
  giving
• 6:58
  them
• 6:59
  the
• 6:59
  conduit.
• 7:00
  And
• 7:00
  then
• 7:00
  we
• 7:00
  had
• 7:01
  a
• 7:01
  consumer
• 7:01
  who
• 7:01
  wasn't
• 7:02
  necessarily
• 7:03
  engaged
• 7:03
  in
• 7:03
  the
• 7:03
  store
• 7:04
  environment.
• 7:04
  So
• 7:04
  we've
• 7:05
  tried
• 7:05
  to
• 7:05
  connect
• 7:05
  those
• 7:05
  dots
• 7:06
  up
• 7:06
  to
• 7:06
  solve
• 7:07
  the
• 7:07
  partner
• 7:07
  problem
• 7:08
  of
• 7:08
  I've
• 7:09
  got
• 7:09
  a
• 7:09
  new
• 7:09
  franchise
• 7:09
  that's
• 7:10
  launching
• 7:10
  a
• 7:10
  new
• 7:10
  shoe.
• 7:11
  How
• 7:11
  do
• 7:11
  I
• 7:11
  get
• 7:11
  that
• 7:11
  to
• 7:12
  market
• 7:12
  and
• 7:12
  tell
• 7:12
  the
• 7:12
  consumer,
• 7:14
  you
• 7:14
  know,
• 7:14
  give
• 7:14
  them
• 7:14
  right
• 7:15
  information?
• 7:15
  So
• 7:16
  we've
• 7:16
  tried
• 7:16
  to
• 7:16
  create
• 7:16
  that
• 7:17
  conduit
• 7:17
  for
• 7:17
  retail
• 7:18
  media
• 7:18
  to
• 7:18
  get
• 7:18
  that
• 7:19
  information
• 7:19
  from
• 7:20
  our
• 7:20
  partners
• 7:22
  into
• 7:22
  the
• 7:23
  hands
• 7:23
  of
• 7:23
  the
• 7:23
  consumer.
• 7:23
  Yeah.
• 7:24
  And
• 7:25
  Jamie,
• 7:25
  you
• 7:25
  seem
• 7:25
  like
• 7:26
  kind
• 7:26
  of
• 7:26
  a
• 7:26
  humble
• 7:26
  guy
• 7:26
  too.
• 7:27
  You
• 7:27
  had
• 7:27
  a
• 7:27
  pretty
• 7:28
  decent
• 7:28
  2025
• 7:29
  too,.
• 7:29
  If
• 7:29
  I'm
• 7:29
  not
• 7:29
  mistaken,
• 7:30
  like
• 7:30
  3%
• 7:30
  comp.
• 7:31
  Sales
• 7:31
  growth,
• 7:31
  is
• 7:32
  that
• 7:32
  right?
• 7:32
  Yeah,
• 7:32
  3%
• 7:33
  lifelike
• 7:33
  growth
• 7:33
  last
• 7:34
  year,
• 7:34
  which
• 7:34
  was
• 7:34
  a
• 7:35
  great
• 7:35
  result
• 7:35
  in
• 7:35
  probably
• 7:36
  what
• 7:36
  was
• 7:36
  a
• 7:36
  flat
• 7:36
  market.
• 7:37
  And
• 7:37
  then
• 7:38
  results
• 7:38
  year
• 7:38
  to
• 7:39
  date
• 7:39
  are
• 7:39
  pushing
• 7:40
  ahead
• 7:40
  of
• 7:40
  that.
• 7:40
  So,
• 7:40
  yeah,
• 7:41
  we're
• 7:41
  quite
• 7:41
  happy
• 7:42
  at
• 7:42
  the
• 7:42
  moment
• 7:42
  with
• 7:42
  performance.
• 7:43
  So
• 7:43
  what
• 7:43
  enabled
• 7:44
  you
• 7:44
  to
• 7:44
  do
• 7:44
  that?
• 7:44
  What
• 7:44
  enabled
• 7:45
  you
• 7:45
  to
• 7:45
  stay
• 7:45
  ahead
• 7:45
  of.
• 7:45
  The
• 7:46
  market,
• 7:46
  so
• 7:46
  to
• 7:46
  speak?
• 7:47
  And
• 7:47
  then
• 7:47
  also
• 7:47
  what
• 7:47
  trends
• 7:48
  are
• 7:48
  you.
• 7:48
  Continuing
• 7:48
  to
• 7:49
  focus
• 7:49
  on
• 7:49
  to
• 7:49
  continue
• 7:50
  to
• 7:50
  make
• 7:50
  2026
• 7:51
  even
• 7:51
  better?
• 7:51
  It
• 7:51
  sounds
• 7:52
  like,
• 7:53
  I
• 7:53
  think
• 7:54
  one
• 7:54
  of
• 7:54
  the
• 7:54
  major
• 7:55
  things
• 7:55
  we
• 7:55
  focus.
• 7:55
  There's
• 7:56
  a
• 7:56
  few
• 7:56
  major
• 7:56
  things
• 7:56
  we
• 7:56
  focus
• 7:56
  on,
• 7:57
  but
• 7:57
  one,
• 7:57
  continue
• 7:58
  to
• 7:58
  double
• 7:59
  down
• 7:59
  on
• 7:59
  service.
• 8:01
  We've
• 8:01
  done
• 8:01
  a
• 8:02
  lot
• 8:02
  of
• 8:02
  work
• 8:02
  in
• 8:02
  terms
• 8:02
  of
• 8:02
  refreshing
• 8:03
  our
• 8:03
  brand,
• 8:03
  our
• 8:03
  identity,
• 8:04
  our
• 8:04
  creatives,
• 8:05
  and
• 8:06
  then
• 8:06
  we've
• 8:06
  done
• 8:06
  a
• 8:06
  lot
• 8:07
  of
• 8:07
  work
• 8:07
  on
• 8:07
  the
• 8:07
  foundations
• 8:08
  of
• 8:08
  retail.
• 8:08
  And
• 8:08
  as
• 8:09
  I
• 8:09
  said,
• 8:09
  I
• 8:09
  come
• 8:09
  from
• 8:09
  a
• 8:09
  buying
• 8:10
  and
• 8:10
  merchandising
• 8:10
  background.
• 8:11
  So
• 8:11
  one
• 8:11
  of
• 8:11
  the
• 8:12
  big
• 8:12
  things
• 8:12
  we
• 8:12
  focus
• 8:12
  on
• 8:13
  was
• 8:13
  availability.
• 8:14
  So
• 8:14
  we
• 8:14
  were
• 8:14
  buying
• 8:15
  probably
• 8:15
  too
• 8:15
  wide
• 8:16
  in
• 8:16
  terms
• 8:16
  of
• 8:16
  SKUs
• 8:17
  and
• 8:17
  brands.
• 8:17
  So
• 8:17
  we
• 8:17
  rationalized
• 8:18
  our
• 8:18
  brand
• 8:19
  matrix
• 8:19
  down.
• 8:19
  We
• 8:19
  cut
• 8:20
  out
• 8:20
  the
• 8:20
  brands
• 8:20
  that
• 8:20
  we
• 8:20
  don't
• 8:21
  think
• 8:21
  were
• 8:21
  relevant
• 8:21
  for
• 8:22
  our
• 8:22
  consumer.
• 8:22
  And
• 8:23
  then
• 8:23
  within
• 8:23
  the
• 8:23
  strategic
• 8:24
  brands,
• 8:24
  we've
• 8:25
  really
• 8:25
  doubled
• 8:25
  down
• 8:25
  on
• 8:25
  the
• 8:25
  SKUs
• 8:26
  and
• 8:26
  the
• 8:26
  styles
• 8:26
  that
• 8:26
  are
• 8:27
  really
• 8:27
  important
• 8:27
  and
• 8:28
  what
• 8:28
  we
• 8:28
  found
• 8:28
  there,
• 8:28
  I
• 8:28
  mean,
• 8:29
  we
• 8:29
  probably
• 8:29
  cut
• 8:29
  sku
• 8:29
  count
• 8:30
  by
• 8:30
  35%
• 8:31
  and
• 8:31
  we
• 8:31
  drove
• 8:31
  about
• 8:32
  40%
• 8:32
  more
• 8:32
  into
• 8:33
  volume.
• 8:33
  And
• 8:34
  the
• 8:34
  outdoor
• 8:35
  industry,
• 8:36
  the
• 8:36
  products
• 8:36
  don't
• 8:37
  they,
• 8:37
  they
• 8:37
  evolve,
• 8:39
  they
• 8:39
  don't
• 8:39
  change
• 8:40
  dramatically
• 8:40
  season
• 8:41
  on
• 8:41
  season.
• 8:41
  So
• 8:41
  you
• 8:41
  get
• 8:42
  this
• 8:42
  gentle
• 8:42
  evolution
• 8:42
  of
• 8:43
  product
• 8:44
  so
• 8:44
  you've
• 8:44
  got
• 8:44
  more
• 8:45
  certainty
• 8:45
  in
• 8:45
  terms
• 8:45
  of
• 8:45
  what
• 8:46
  the
• 8:46
  winners
• 8:46
  are.
• 8:46
  So
• 8:46
  we
• 8:46
  really
• 8:47
  backed
• 8:47
  the
• 8:47
  truck
• 8:47
  up
• 8:48
  on
• 8:48
  volume
• 8:49
  and
• 8:49
  that
• 8:49
  really
• 8:50
  paid
• 8:50
  dividends
• 8:50
  as
• 8:50
  we
• 8:50
  went
• 8:51
  into
• 8:51
  peak
• 8:51
  trading
• 8:51
  because
• 8:52
  we
• 8:52
  didn't
• 8:53
  run
• 8:53
  out
• 8:53
  of
• 8:53
  oxygen.
• 8:53
  Whereas
• 8:54
  in
• 8:54
  the
• 8:54
  years
• 8:54
  prior
• 8:55
  we
• 8:55
  were
• 8:56
  really
• 8:56
  wide
• 8:56
  on
• 8:56
  SKU
• 8:56
  camp.
• 8:57
  We
• 8:57
  ran
• 8:57
  out
• 8:57
  of
• 8:57
  oxygen.
• 8:58
  We
• 8:58
  just
• 8:58
  had
• 8:58
  the
• 8:59
  ability
• 8:59
  to
• 8:59
  keep
• 8:59
  that
• 8:59
  momentum
• 9:00
  going.
• 9:02
  And
• 9:02
  that's
• 9:03
  worked
• 9:03
  for
• 9:03
  by
• 9:03
  stores
• 9:04
  and
• 9:04
  especially
• 9:04
  for
• 9:04
  our
• 9:05
  online
• 9:05
  business
• 9:05
  with
• 9:05
  more
• 9:06
  stock
• 9:06
  in
• 9:06
  the
• 9:06
  warehouse,
• 9:06
  better
• 9:07
  availability
• 9:07
  and
• 9:08
  then
• 9:08
  just
• 9:08
  the
• 9:08
  ability
• 9:09
  for
• 9:09
  the
• 9:09
  consumers
• 9:10
  to
• 9:10
  buy
• 9:10
  what
• 9:10
  they
• 9:10
  want
• 9:11
  through
• 9:11
  peak
• 9:11
  trading.
• 9:12
  Is
• 9:12
  that
• 9:12
  a
• 9:12
  particularly
• 9:13
  important
• 9:13
  strategy
• 9:13
  when.
• 9:13
  You
• 9:14
  think
• 9:14
  about
• 9:14
  the
• 9:14
  dynamics
• 9:14
  of
• 9:14
  online
• 9:15
  and
• 9:15
  the
• 9:15
  threat
• 9:15
  of
• 9:15
  online
• 9:16
  too
• 9:16
  in
• 9:16
  terms
• 9:16
  of
• 9:17
  going
• 9:17
  deeper
• 9:18
  and
• 9:18
  less
• 9:18
  wider,
• 9:19
  particularly
• 9:19
  in
• 9:19
  the
• 9:19
  stores?
• 9:20
  Yeah.
• 9:20
  I
• 9:20
  mean
• 9:20
  there
• 9:21
  was
• 9:21
  this
• 9:21
  counter
• 9:21
  argument
• 9:22
  that
• 9:22
  you
• 9:22
  need
• 9:22
  to
• 9:22
  be
• 9:22
  wide
• 9:22
  online,
• 9:23
  give
• 9:23
  the
• 9:23
  consumer
• 9:23
  choice.
• 9:24
  We
• 9:24
  found
• 9:25
  to
• 9:25
  a
• 9:26
  degree
• 9:26
  that's
• 9:26
  true.
• 9:27
  But
• 9:30
  you
• 9:30
  burn
• 9:30
  yourself
• 9:30
  really
• 9:30
  quickly
• 9:31
  on
• 9:31
  availability
• 9:31
  and
• 9:31
  cost.
• 9:32
  So
• 9:32
  if
• 9:32
  you're
• 9:33
  spending
• 9:33
  a
• 9:33
  lot
• 9:33
  of
• 9:33
  money
• 9:33
  on
• 9:34
  performance
• 9:34
  marketing
• 9:35
  and
• 9:35
  putting
• 9:36
  all
• 9:36
  these
• 9:36
  SKUs
• 9:36
  on
• 9:36
  the
• 9:37
  website,
• 9:37
  but
• 9:37
  then
• 9:37
  you're
• 9:39
  running
• 9:39
  out
• 9:39
  of
• 9:39
  energy
• 9:40
  really
• 9:40
  quickly
• 9:40
  because
• 9:40
  you
• 9:41
  just
• 9:41
  get
• 9:41
  fragmented.
• 9:42
  Your
• 9:42
  profitability,
• 9:44
  ecom
• 9:45
  profitability
• 9:46
  dies
• 9:46
  pretty
• 9:46
  quickly.
• 9:47
  We
• 9:47
  then
• 9:47
  found
• 9:48
  that
• 9:48
  if
• 9:48
  we
• 9:48
  don't
• 9:48
  have
• 9:48
  the
• 9:49
  depth
• 9:49
  then
• 9:49
  we're
• 9:49
  replenishing
• 9:50
  from
• 9:50
  the
• 9:50
  store
• 9:50
  and
• 9:51
  then
• 9:51
  that
• 9:51
  also
• 9:51
  erodes
• 9:52
  the
• 9:52
  profitability
• 9:53
  along
• 9:53
  the
• 9:53
  way.
• 9:54
  So
• 9:55
  that's
• 9:55
  been
• 9:55
  really
• 9:55
  important.
• 9:55
  And
• 9:56
  then
• 9:56
  the
• 9:56
  other
• 9:56
  really
• 9:57
  important
• 9:57
  pillar
• 9:58
  that
• 9:58
  we
• 9:58
  found
• 9:58
  focus
• 9:58
  on
• 9:58
  is
• 9:59
  value
• 9:59
  and
• 9:59
  price.
• 10:00
  So
• 10:00
  we
• 10:00
  were
• 10:01
  probably
• 10:01
  more
• 10:01
  expensive
• 10:02
  than
• 10:02
  we
• 10:02
  should
• 10:02
  have
• 10:02
  been
• 10:03
  in
• 10:03
  the
• 10:03
  market.
• 10:03
  And
• 10:03
  you
• 10:04
  know,
• 10:04
  we're
• 10:04
  in
• 10:04
  a
• 10:04
  market
• 10:04
  where
• 10:04
  there's
• 10:05
  other
• 10:05
  outdoor
• 10:05
  retailers
• 10:06
  or
• 10:06
  other
• 10:06
  lifestyle
• 10:07
  retailers
• 10:07
  that
• 10:07
  are
• 10:07
  selling
• 10:08
  the
• 10:09
  same
• 10:09
  brands
• 10:09
  or
• 10:09
  similar
• 10:10
  or
• 10:10
  the
• 10:10
  same
• 10:10
  products.
• 10:11
  So
• 10:11
  we
• 10:12
  found
• 10:12
  we
• 10:12
  don't
• 10:12
  always
• 10:12
  want
• 10:13
  to
• 10:13
  be
• 10:13
  the
• 10:13
  cheapest,
• 10:13
  but
• 10:14
  we
• 10:14
  want
• 10:14
  to
• 10:14
  make
• 10:14
  sure
• 10:14
  that
• 10:14
  customers
• 10:15
  think
• 10:15
  that
• 10:15
  we're
• 10:15
  value
• 10:16
  for
• 10:16
  money.
• 10:17
  And
• 10:17
  especially
• 10:18
  from
• 10:18
  an
• 10:18
  E
• 10:18
  comm
• 10:19
  perspective,
• 10:19
  we
• 10:20
  have
• 10:20
  definitely
• 10:20
  focused
• 10:21
  on
• 10:21
  more
• 10:21
  dynamic
• 10:21
  pricing
• 10:22
  and
• 10:22
  making
• 10:22
  sure
• 10:23
  that
• 10:23
  we
• 10:23
  are
• 10:24
  aligned
• 10:25
  to
• 10:25
  the
• 10:25
  market
• 10:25
  where
• 10:25
  it's
• 10:26
  appropriate.
• 10:27
  And
• 10:27
  how
• 10:27
  do
• 10:27
  you
• 10:27
  showcase
• 10:27
  that
• 10:28
  value
• 10:28
  to
• 10:28
  your
• 10:28
  consumer?
• 10:29
  What
• 10:29
  is
• 10:29
  the
• 10:29
  value
• 10:29
  they
• 10:29
  get
• 10:30
  from
• 10:30
  inherently
• 10:30
  shopping
• 10:30
  with
• 10:31
  Cotswold?
• 10:32
  I
• 10:32
  mean
• 10:32
  there's
• 10:32
  two
• 10:32
  things
• 10:33
  I
• 10:33
  think
• 10:33
  there's.
• 10:33
  And
• 10:34
  we
• 10:34
  almost
• 10:34
  have
• 10:35
  not
• 10:35
  two
• 10:35
  different.
• 10:36
  Well,
• 10:37
  there's
• 10:37
  a
• 10:37
  customer
• 10:37
  that
• 10:37
  will
• 10:38
  shop
• 10:38
  online
• 10:38
  and
• 10:39
  then
• 10:39
  we'll
• 10:39
  shop
• 10:39
  for
• 10:39
  price
• 10:40
  and
• 10:40
  they'll
• 10:41
  be
• 10:41
  very
• 10:41
  fickle
• 10:41
  in
• 10:42
  terms
• 10:42
  of
• 10:42
  where
• 10:42
  they
• 10:42
  shop.
• 10:43
  And
• 10:43
  then
• 10:43
  we
• 10:43
  have
• 10:44
  a.
• 10:44
  We're
• 10:45
  about
• 10:45
  a
• 10:45
  third
• 10:45
  of
• 10:45
  our
• 10:45
  businesses
• 10:46
  online
• 10:47
  and
• 10:47
  then
• 10:47
  we
• 10:47
  have
• 10:48
  a
• 10:48
  customer
• 10:48
  that
• 10:48
  really
• 10:49
  wants
• 10:49
  to
• 10:49
  go
• 10:49
  in
• 10:49
  store
• 10:50
  and
• 10:50
  get
• 10:50
  that,
• 10:51
  get
• 10:51
  that
• 10:51
  deep
• 10:51
  knowledge,
• 10:52
  have
• 10:52
  a
• 10:52
  45
• 10:52
  minute
• 10:53
  fit
• 10:53
  in
• 10:53
  for
• 10:54
  a
• 10:54
  pair
• 10:54
  of
• 10:54
  running
• 10:54
  shoes
• 10:55
  or
• 10:55
  hiking
• 10:55
  boots
• 10:56
  or
• 10:56
  a
• 10:56
  two
• 10:56
  hour
• 10:57
  ski
• 10:57
  boot
• 10:57
  fit.
• 10:58
  And
• 10:58
  price
• 10:59
  is
• 10:59
  less
• 10:59
  of
• 10:59
  an
• 11:00
  issue
• 11:00
  because
• 11:00
  they
• 11:00
  want
• 11:01
  to,
• 11:01
  they're
• 11:02
  happy
• 11:02
  to
• 11:02
  spend
• 11:02
  the
• 11:02
  time
• 11:03
  with
• 11:03
  our
• 11:03
  colleagues
• 11:03
  to
• 11:04
  get
• 11:04
  the
• 11:04
  service
• 11:05
  because
• 11:06
  they're
• 11:06
  shopping
• 11:06
  for
• 11:07
  a
• 11:07
  really
• 11:07
  specialized
• 11:08
  product.
• 11:08
  So
• 11:09
  I
• 11:09
  think
• 11:09
  the
• 11:10
  mission
• 11:10
  shopping
• 11:10
  is
• 11:10
  a
• 11:10
  little
• 11:11
  bit
• 11:11
  different
• 11:11
  and
• 11:12
  I
• 11:12
  think
• 11:12
  you
• 11:12
  definitely
• 11:13
  have
• 11:13
  a
• 11:13
  customer
• 11:13
  that
• 11:13
  shops
• 11:13
  on
• 11:14
  price,
• 11:14
  but
• 11:14
  you
• 11:14
  have
• 11:14
  a
• 11:15
  lot
• 11:15
  of
• 11:15
  our
• 11:15
  customers
• 11:15
  that
• 11:16
  just
• 11:16
  want,
• 11:16
  want
• 11:17
  the
• 11:17
  right
• 11:17
  kit
• 11:17
  because
• 11:18
  there's
• 11:18
  no
• 11:18
  point
• 11:18
  getting
• 11:18
  a
• 11:19
  pair
• 11:19
  of
• 11:19
  walking
• 11:19
  boots
• 11:19
  that
• 11:20
  might
• 11:20
  be
• 11:20
  20
• 11:20
  cheaper
• 11:21
  if
• 11:21
  they
• 11:21
  rub
• 11:21
  you
• 11:21
  or
• 11:21
  they
• 11:21
  hurt
• 11:22
  you
• 11:22
  and
• 11:22
  they
• 11:22
  get
• 11:22
  blisters.
• 11:23
  Because
• 11:23
  I
• 11:23
  think
• 11:23
  when
• 11:24
  you're
• 11:24
  on,
• 11:25
  when
• 11:25
  you're
• 11:25
  doing
• 11:26
  some
• 11:26
  serious
• 11:26
  outdoor
• 11:27
  stuff,
• 11:27
  you
• 11:28
  want
• 11:28
  your
• 11:28
  kit
• 11:28
  to
• 11:28
  look
• 11:28
  after.
• 11:29
  You
• 11:29
  want
• 11:29
  the
• 11:29
  confidence.
• 11:30
  Yeah.
• 11:30
  You
• 11:30
  want
• 11:30
  the
• 11:30
  confidence
• 11:31
  that
• 11:31
  comes
• 11:31
  from
• 11:31
  getting
• 11:31
  the
• 11:32
  advice
• 11:32
  in
• 11:32
  store,
• 11:32
  which
• 11:33
  is
• 11:33
  important,
• 11:33
  important
• 11:33
  in
• 11:34
  your
• 11:34
  category.
• 11:34
  All
• 11:35
  right,
• 11:35
  I
• 11:35
  have
• 11:35
  to
• 11:35
  ask
• 11:35
  you
• 11:36
  because
• 11:36
  in
• 11:36
  doing
• 11:36
  my
• 11:36
  research,
• 11:37
  I
• 11:37
  saw
• 11:37
  that
• 11:37
  you
• 11:37
  have
• 11:37
  a
• 11:37
  couple
• 11:38
  what.
• 11:38
  What
• 11:38
  the.
• 11:39
  What
• 11:39
  someone's
• 11:40
  calling
• 11:40
  probably
• 11:40
  you
• 11:41
  guys,
• 11:41
  but
• 11:41
  the
• 11:41
  quotes,
• 11:42
  quote,
• 11:42
  unquote
• 11:42
  stores.
• 11:42
  The
• 11:43
  future
• 11:43
  future,
• 11:43
  which
• 11:44
  is
• 11:44
  in
• 11:44
  my.
• 11:44
  Background
• 11:44
  from
• 11:45
  my
• 11:45
  days
• 11:45
  at
• 11:45
  Target,
• 11:45
  heading
• 11:46
  up
• 11:46
  that
• 11:46
  too.
• 11:47
  So
• 11:47
  talk
• 11:47
  to
• 11:47
  me
• 11:47
  about
• 11:47
  those.
• 11:48
  How
• 11:48
  many
• 11:48
  stores
• 11:48
  of
• 11:49
  the
• 11:49
  future
• 11:49
  do
• 11:49
  you
• 11:49
  have
• 11:49
  and
• 11:50
  what.
• 11:50
  What
• 11:50
  is
• 11:50
  particularly
• 11:51
  futuristic
• 11:52
  about
• 11:52
  them?
• 11:52
  So,
• 11:53
  as
• 11:53
  per
• 11:53
  the
• 11:53
  name,
• 11:53
  we're
• 11:54
  based
• 11:54
  in
• 11:54
  the
• 11:54
  Cotswolds
• 11:55
  and
• 11:55
  we
• 11:55
  have
• 11:55
  a
• 11:55
  store
• 11:55
  literally
• 11:56
  15
• 11:56
  minutes
• 11:56
  away
• 11:57
  for
• 11:57
  us.
• 11:57
  And
• 11:57
  we
• 11:57
  created
• 11:57
  our
• 11:58
  Sandpip.
• 11:58
  So
• 11:58
  that
• 11:58
  was
• 11:59
  our
• 11:59
  store
• 11:59
  of
• 11:59
  the
• 11:59
  future,
• 12:00
  our
• 12:00
  South
• 12:00
  Surny
• 12:01
  store.
• 12:01
  And
• 12:02
  we,
• 12:03
  as
• 12:03
  I
• 12:03
  said
• 12:04
  earlier,
• 12:04
  I
• 12:04
  thought
• 12:04
  our
• 12:04
  store
• 12:05
  environment
• 12:05
  could
• 12:05
  be
• 12:06
  more
• 12:06
  engaging,
• 12:06
  it
• 12:06
  could
• 12:07
  be
• 12:07
  more
• 12:07
  modern,
• 12:09
  and
• 12:09
  it
• 12:10
  needed
• 12:10
  a
• 12:10
  bit
• 12:10
  of
• 12:10
  a
• 12:10
  refresh.
• 12:11
  And
• 12:11
  the
• 12:12
  store
• 12:12
  near
• 12:12
  our
• 12:12
  office
• 12:12
  is
• 12:13
  actually
• 12:13
  a
• 12:13
  great
• 12:13
  store.
• 12:14
  It's
• 12:14
  a
• 12:14
  destination
• 12:15
  store,
• 12:15
  very
• 12:15
  affluent
• 12:16
  neighbourhood.
• 12:17
  So
• 12:17
  we
• 12:18
  took
• 12:18
  that
• 12:18
  store
• 12:19
  and
• 12:20
  we
• 12:20
  used
• 12:20
  it
• 12:20
  as
• 12:20
  a
• 12:20
  sandpit.
• 12:21
  So
• 12:21
  it's
• 12:21
  basically
• 12:21
  a
• 12:22
  lab.
• 12:22
  Yes,
• 12:22
  a
• 12:22
  lab.
• 12:23
  We
• 12:23
  test
• 12:23
  and
• 12:23
  learn.
• 12:25
  We
• 12:25
  basically
• 12:26
  white
• 12:26
  boxed
• 12:26
  it.
• 12:26
  We
• 12:27
  took
• 12:27
  down
• 12:27
  all
• 12:28
  the
• 12:28
  old
• 12:28
  slat
• 12:28
  wall
• 12:28
  fixture
• 12:29
  in,
• 12:29
  we
• 12:29
  put
• 12:30
  a
• 12:30
  more
• 12:30
  flexible
• 12:31
  shop
• 12:31
  fit
• 12:31
  in.
• 12:32
  We
• 12:33
  challenged
• 12:33
  ourselves
• 12:33
  on
• 12:34
  visual
• 12:34
  merchandising.
• 12:36
  For
• 12:36
  me,
• 12:36
  we
• 12:36
  were
• 12:36
  a
• 12:37
  bit
• 12:37
  of
• 12:37
  a
• 12:37
  sea
• 12:37
  of
• 12:37
  racks,
• 12:38
  you
• 12:38
  know,
• 12:38
  same,
• 12:38
  same
• 12:39
  height,
• 12:39
  very
• 12:40
  hard
• 12:40
  to
• 12:40
  distinguish
• 12:40
  in
• 12:41
  terms
• 12:41
  of
• 12:41
  different
• 12:42
  product
• 12:42
  categories.
• 12:43
  And
• 12:43
  it
• 12:43
  was
• 12:43
  very
• 12:44
  much,
• 12:44
  there's
• 12:44
  clothing,
• 12:45
  there's
• 12:45
  shoes,
• 12:45
  there's
• 12:46
  equipment.
• 12:46
  So
• 12:46
  we've
• 12:47
  merged
• 12:47
  a
• 12:47
  lot
• 12:47
  of
• 12:47
  those
• 12:48
  categories
• 12:48
  together
• 12:48
  to
• 12:49
  try
• 12:49
  and
• 12:49
  drive
• 12:49
  the
• 12:49
  basket
• 12:50
  up
• 12:50
  as
• 12:50
  well.
• 12:51
  So
• 12:51
  done
• 12:52
  this
• 12:52
  in
• 12:52
  various
• 12:52
  businesses
• 12:53
  before
• 12:53
  and.
• 12:53
  But
• 12:53
  the
• 12:54
  team
• 12:54
  have
• 12:54
  been
• 12:54
  fantastic.
• 12:55
  You
• 12:55
  know,
• 12:55
  I
• 12:55
  set
• 12:55
  them
• 12:55
  a
• 12:56
  challenge.
• 12:56
  We
• 12:57
  talked
• 12:57
  about
• 12:57
  the
• 12:57
  things
• 12:57
  that
• 12:57
  weren't
• 12:58
  working.
• 12:58
  We
• 12:58
  talked
• 12:58
  about,
• 12:59
  you
• 12:59
  know,
• 12:59
  who
• 12:59
  looks
• 13:00
  good
• 13:00
  in
• 13:00
  the
• 13:00
  market,
• 13:00
  who
• 13:00
  looks
• 13:00
  good,
• 13:01
  good
• 13:01
  in
• 13:01
  the
• 13:01
  world.
• 13:02
  And
• 13:02
  then
• 13:02
  we
• 13:02
  just
• 13:02
  played
• 13:03
  for
• 13:03
  about
• 13:03
  six
• 13:04
  months.
• 13:04
  You
• 13:04
  know,
• 13:05
  we
• 13:05
  did
• 13:05
  the
• 13:05
  sort
• 13:05
  of
• 13:05
  heavy.
• 13:06
  The
• 13:06
  heavy
• 13:06
  works
• 13:07
  and
• 13:07
  then
• 13:07
  we
• 13:07
  introduced
• 13:07
  the
• 13:08
  retail
• 13:08
  media
• 13:08
  technology
• 13:09
  and
• 13:09
  the
• 13:09
  screens
• 13:09
  and
• 13:10
  we
• 13:10
  worked
• 13:10
  out
• 13:10
  the
• 13:10
  dwell
• 13:11
  points
• 13:11
  in
• 13:11
  the
• 13:11
  store
• 13:12
  and
• 13:12
  what
• 13:13
  made
• 13:13
  sense.
• 13:13
  And
• 13:13
  we
• 13:14
  Got
• 13:14
  that
• 13:14
  to
• 13:14
  a
• 13:14
  point
• 13:15
  where
• 13:15
  we
• 13:15
  probably
• 13:16
  annoyed
• 13:16
  the
• 13:16
  store
• 13:16
  manager
• 13:17
  enough
• 13:17
  and
• 13:17
  we
• 13:17
  thought,
• 13:17
  okay,
• 13:18
  well,
• 13:18
  we're
• 13:18
  pretty
• 13:18
  much
• 13:18
  done.
• 13:19
  And
• 13:19
  then
• 13:19
  we
• 13:20
  had
• 13:20
  a
• 13:20
  couple
• 13:21
  of
• 13:21
  new
• 13:21
  stores
• 13:21
  that
• 13:22
  lease
• 13:22
  opportunities
• 13:23
  came
• 13:23
  up.
• 13:23
  One
• 13:23
  in
• 13:24
  Bristol
• 13:24
  Clifton
• 13:25
  and
• 13:25
  one
• 13:25
  in
• 13:25
  Merry
• 13:25
  Hill.
• 13:26
  And
• 13:26
  we
• 13:26
  took
• 13:27
  all
• 13:27
  those
• 13:27
  learnings
• 13:27
  and
• 13:28
  then
• 13:28
  we
• 13:28
  accelerated
• 13:29
  into
• 13:29
  two
• 13:29
  new
• 13:29
  stores
• 13:30
  last
• 13:30
  year
• 13:30
  in
• 13:31
  those
• 13:31
  environments.
• 13:31
  And
• 13:32
  the
• 13:32
  feedback
• 13:32
  from
• 13:33
  the
• 13:33
  consumers
• 13:33
  has
• 13:33
  been
• 13:34
  great.
• 13:34
  NPS
• 13:34
  scores
• 13:35
  and
• 13:35
  CSI
• 13:36
  scores
• 13:36
  have
• 13:36
  been
• 13:37
  positive.
• 13:37
  And
• 13:38
  in
• 13:39
  the
• 13:39
  store
• 13:39
  that
• 13:39
  we
• 13:39
  did
• 13:39
  the
• 13:40
  sandpit
• 13:40
  in,
• 13:40
  we've
• 13:41
  had
• 13:41
  a
• 13:41
  double
• 13:41
  digit
• 13:41
  increase
• 13:42
  in
• 13:42
  conversion
• 13:42
  and
• 13:43
  a
• 13:43
  double
• 13:43
  digit
• 13:43
  increase
• 13:43
  in
• 13:44
  ATV
• 13:44
  in
• 13:44
  that
• 13:44
  store
• 13:45
  as
• 13:45
  well.
• 13:45
  Really?
• 13:45
  Wow.
• 13:46
  Okay.
• 13:46
  So
• 13:46
  I
• 13:46
  basically
• 13:47
  took
• 13:47
  away
• 13:47
  two
• 13:47
  things
• 13:47
  from
• 13:48
  this.
• 13:48
  So
• 13:48
  you're
• 13:48
  using
• 13:48
  it
• 13:48
  as
• 13:48
  a
• 13:49
  sandbox
• 13:49
  for
• 13:49
  merchandising,
• 13:50
  really
• 13:51
  in
• 13:51
  terms
• 13:51
  of
• 13:51
  how
• 13:51
  you
• 13:51
  want
• 13:52
  to
• 13:52
  lay
• 13:52
  out
• 13:52
  the
• 13:52
  storage,
• 13:52
  how
• 13:52
  you
• 13:52
  want
• 13:53
  to
• 13:53
  design
• 13:53
  the
• 13:53
  store,
• 13:53
  how
• 13:53
  you
• 13:53
  want
• 13:53
  to
• 13:54
  make
• 13:54
  it
• 13:54
  more
• 13:54
  inspirational
• 13:54
  to
• 13:55
  drive
• 13:55
  a
• 13:55
  bigger
• 13:55
  basket,
• 13:56
  but
• 13:56
  also
• 13:56
  the
• 13:56
  tech
• 13:57
  side
• 13:57
  of
• 13:57
  it
• 13:57
  too.
• 13:57
  So,
• 13:58
  you
• 13:58
  know,
• 13:58
  they
• 13:58
  experiment
• 13:59
  with
• 13:59
  screens
• 13:59
  and
• 14:00
  retail
• 14:00
  media.
• 14:01
  I
• 14:01
  gotta
• 14:01
  imagine
• 14:01
  that's
• 14:02
  a
• 14:02
  key
• 14:02
  piece
• 14:02
  of
• 14:03
  how
• 14:03
  you're
• 14:03
  looking
• 14:03
  at
• 14:03
  things
• 14:03
  going
• 14:04
  forward.
• 14:04
  We've
• 14:04
  been
• 14:04
  talking
• 14:04
  about
• 14:05
  it
• 14:05
  before
• 14:05
  we
• 14:05
  hit
• 14:06
  record
• 14:06
  here.
• 14:06
  Yeah,
• 14:06
  talk
• 14:07
  to
• 14:07
  us
• 14:07
  about
• 14:07
  retail
• 14:07
  media
• 14:07
  and
• 14:08
  the
• 14:08
  strategy
• 14:08
  behind
• 14:08
  that.
• 14:09
  Yeah,
• 14:09
  well,
• 14:09
  as
• 14:09
  I
• 14:09
  said,
• 14:09
  we
• 14:10
  want
• 14:10
  that
• 14:10
  two
• 14:10
  way
• 14:10
  engaging
• 14:11
  environment
• 14:11
  and
• 14:11
  we
• 14:11
  want
• 14:12
  to
• 14:12
  solve
• 14:12
  the
• 14:12
  problem
• 14:12
  for
• 14:13
  the,
• 14:13
  for
• 14:13
  the
• 14:13
  brand.
• 14:13
  So
• 14:13
  we
• 14:13
  want
• 14:14
  the
• 14:14
  customers
• 14:14
  to
• 14:14
  be
• 14:14
  more
• 14:15
  engaged,
• 14:15
  the
• 14:15
  customers
• 14:15
  to
• 14:16
  get
• 14:16
  more
• 14:16
  relevant
• 14:16
  information
• 14:17
  as
• 14:17
  they're
• 14:17
  circling
• 14:17
  around
• 14:17
  the
• 14:18
  stores
• 14:18
  are
• 14:18
  in
• 14:18
  the
• 14:18
  categories.
• 14:19
  And
• 14:19
  then
• 14:19
  we
• 14:19
  want
• 14:19
  to
• 14:19
  solve
• 14:20
  the
• 14:20
  brand
• 14:20
  problem
• 14:21
  of
• 14:21
  how
• 14:21
  do
• 14:22
  we
• 14:22
  get
• 14:22
  information
• 14:22
  to
• 14:23
  the
• 14:23
  consumer.
• 14:24
  So
• 14:24
  they
• 14:24
  were
• 14:24
  the
• 14:24
  two
• 14:24
  problems
• 14:25
  that
• 14:25
  we
• 14:25
  were
• 14:25
  trying
• 14:25
  to
• 14:25
  solve.
• 14:26
  And
• 14:27
  the
• 14:27
  output
• 14:27
  is
• 14:27
  a
• 14:28
  more
• 14:28
  engaged
• 14:28
  consumer,
• 14:29
  a
• 14:30
  more
• 14:30
  integrated
• 14:31
  brand
• 14:31
  partnership.
• 14:31
  And
• 14:32
  it
• 14:32
  happens
• 14:32
  to
• 14:32
  be
• 14:32
  an
• 14:33
  economic
• 14:33
  benefit
• 14:33
  along
• 14:33
  the
• 14:34
  way,
• 14:34
  which
• 14:34
  is
• 14:34
  nice.
• 14:34
  But
• 14:34
  we
• 14:35
  started
• 14:35
  with
• 14:35
  the
• 14:35
  key
• 14:36
  consumer
• 14:36
  problem
• 14:37
  is
• 14:37
  how
• 14:37
  do
• 14:37
  we
• 14:37
  make
• 14:37
  the
• 14:37
  stores
• 14:38
  more
• 14:38
  engaging.
• 14:40
  So,
• 14:40
  yeah,
• 14:41
  we
• 14:41
  identified,
• 14:42
  you
• 14:42
  know,
• 14:42
  we've
• 14:43
  learned
• 14:43
  some
• 14:43
  lessons
• 14:44
  along
• 14:44
  the
• 14:44
  way,
• 14:44
  but
• 14:44
  we
• 14:44
  identified
• 14:45
  the
• 14:45
  key
• 14:45
  points
• 14:45
  where
• 14:46
  the
• 14:46
  customer
• 14:46
  enters
• 14:46
  the
• 14:47
  store,
• 14:47
  the
• 14:47
  windows,
• 14:48
  you
• 14:48
  know,
• 14:48
  the
• 14:49
  front
• 14:49
  door.
• 14:49
  And
• 14:49
  then
• 14:50
  we
• 14:50
  try
• 14:50
  to
• 14:50
  identify
• 14:50
  the
• 14:51
  dwell
• 14:51
  points
• 14:51
  around
• 14:52
  the
• 14:52
  store.
• 14:52
  So
• 14:53
  mainly
• 14:54
  the
• 14:54
  footwear
• 14:54
  areas
• 14:55
  where
• 14:55
  you
• 14:55
  sit
• 14:55
  down
• 14:55
  to
• 14:56
  have
• 14:56
  a
• 14:56
  gait
• 14:56
  analysis
• 14:57
  for
• 14:57
  running,
• 14:57
  or
• 14:57
  you
• 14:58
  try
• 14:58
  your
• 14:58
  running
• 14:58
  shoes
• 14:58
  on,
• 14:59
  or
• 14:59
  the,
• 14:59
  or
• 14:59
  the
• 14:59
  hiking
• 14:59
  boot
• 15:00
  area.
• 15:00
  So
• 15:01
  we
• 15:01
  put
• 15:01
  screens
• 15:01
  in
• 15:01
  the
• 15:02
  walls
• 15:02
  because
• 15:02
  we
• 15:02
  knew
• 15:02
  there'd
• 15:02
  be
• 15:03
  a
• 15:03
  lot
• 15:03
  of
• 15:03
  dwell
• 15:03
  time
• 15:03
  in
• 15:03
  those
• 15:04
  points.
• 15:05
  And
• 15:05
  then
• 15:05
  we
• 15:05
  also
• 15:05
  integrated
• 15:06
  screens
• 15:07
  into
• 15:07
  the
• 15:08
  apparel
• 15:08
  areas
• 15:09
  and
• 15:09
  into
• 15:09
  the,
• 15:10
  into
• 15:10
  the
• 15:11
  seasonal
• 15:11
  areas
• 15:11
  like
• 15:11
  camping
• 15:12
  and
• 15:12
  ski,
• 15:12
  where
• 15:13
  there
• 15:13
  were
• 15:13
  points
• 15:13
  where
• 15:14
  consumers
• 15:14
  were
• 15:14
  dwelling
• 15:15
  and
• 15:15
  there
• 15:15
  would
• 15:15
  be
• 15:15
  points
• 15:15
  where
• 15:16
  the
• 15:16
  consumer,
• 15:17
  we
• 15:17
  could
• 15:17
  talk
• 15:17
  to
• 15:18
  the
• 15:18
  consumer
• 15:18
  and
• 15:18
  then
• 15:18
  the
• 15:18
  Last
• 15:19
  point
• 15:19
  was
• 15:19
  at
• 15:19
  the
• 15:19
  till
• 15:19
  point
• 15:20
  in
• 15:21
  terms
• 15:21
  of
• 15:21
  obviously
• 15:21
  quite
• 15:22
  a
• 15:22
  big
• 15:22
  dwell
• 15:22
  time
• 15:22
  as
• 15:22
  well.
• 15:23
  And
• 15:23
  then
• 15:23
  what
• 15:23
  we've
• 15:23
  done
• 15:24
  is
• 15:24
  not
• 15:24
  only
• 15:25
  try
• 15:25
  to
• 15:25
  drive
• 15:26
  brand
• 15:26
  messages
• 15:27
  or
• 15:27
  partner
• 15:27
  messages,
• 15:28
  but
• 15:28
  we've
• 15:29
  also
• 15:29
  driven
• 15:30
  our
• 15:30
  own
• 15:30
  messages.
• 15:30
  So
• 15:31
  do
• 15:31
  we
• 15:31
  have
• 15:31
  a
• 15:31
  promotion
• 15:32
  on?
• 15:32
  Let's
• 15:33
  talk
• 15:33
  about
• 15:33
  our
• 15:33
  services,
• 15:34
  let's
• 15:34
  talk
• 15:34
  about
• 15:34
  our
• 15:35
  sustainability
• 15:36
  ambition.
• 15:36
  So
• 15:36
  we're
• 15:37
  using
• 15:37
  it
• 15:37
  to
• 15:38
  pulse
• 15:38
  internal
• 15:39
  narrative
• 15:40
  as
• 15:40
  well,
• 15:41
  to
• 15:41
  talk
• 15:41
  to
• 15:41
  the
• 15:41
  consumer
• 15:42
  about
• 15:42
  who
• 15:42
  we
• 15:42
  are,
• 15:42
  what
• 15:43
  we
• 15:43
  stand
• 15:43
  for
• 15:43
  and
• 15:43
  what
• 15:44
  we
• 15:44
  can
• 15:44
  offer
• 15:44
  to
• 15:44
  the
• 15:44
  customer
• 15:45
  as
• 15:45
  well.
• 15:45
  Right,
• 15:45
  right.
• 15:45
  Wow,
• 15:46
  that's
• 15:46
  fabulous.
• 15:46
  That's
• 15:47
  exactly
• 15:47
  what
• 15:47
  I
• 15:47
  was
• 15:47
  hoping
• 15:47
  you'd
• 15:48
  say
• 15:48
  when
• 15:48
  I
• 15:48
  asked
• 15:48
  the
• 15:48
  question
• 15:49
  about
• 15:49
  stores
• 15:49
  of
• 15:49
  the
• 15:49
  future.
• 15:49
  I'm
• 15:50
  curious
• 15:50
  too.
• 15:50
  What
• 15:50
  is
• 15:50
  the
• 15:51
  hardest
• 15:51
  thing
• 15:51
  to
• 15:52
  activate.
• 15:52
  In
• 15:52
  store
• 15:53
  retail
• 15:53
  media?
• 15:53
  What's
• 15:54
  the
• 15:54
  hardest
• 15:54
  thing
• 15:54
  to
• 15:54
  get
• 15:54
  right
• 15:55
  time
• 15:55
  and
• 15:55
  time
• 15:55
  again?
• 15:56
  The
• 15:56
  relatively
• 15:57
  easy
• 15:57
  bit
• 15:58
  is
• 15:58
  putting
• 15:58
  the
• 15:58
  screens
• 15:59
  in.
• 15:59
  And
• 16:00
  that's
• 16:00
  the
• 16:00
  easy
• 16:00
  bit.
• 16:01
  It's
• 16:01
  relatively
• 16:02
  easy.
• 16:02
  It's
• 16:02
  project
• 16:02
  management.
• 16:03
  The
• 16:03
  guys
• 16:03
  will
• 16:03
  get
• 16:04
  excited
• 16:04
  about
• 16:04
  building.
• 16:04
  Stuff,
• 16:05
  get
• 16:05
  the
• 16:05
  electrical
• 16:06
  in
• 16:06
  the
• 16:06
  right
• 16:06
  spots.
• 16:07
  There's
• 16:07
  always
• 16:07
  the
• 16:07
  tech
• 16:08
  bit.
• 16:08
  I
• 16:08
  mean,
• 16:08
  our
• 16:09
  tech
• 16:09
  partners,
• 16:09
  Itcher
• 16:09
  have
• 16:10
  been
• 16:10
  fantastic,
• 16:11
  so
• 16:11
  they've
• 16:11
  been
• 16:12
  easy
• 16:12
  to
• 16:12
  work
• 16:12
  with.
• 16:13
  There's
• 16:13
  two
• 16:14
  bits
• 16:14
  that
• 16:14
  are
• 16:14
  really
• 16:14
  hard.
• 16:15
  Yeah.
• 16:15
  One
• 16:16
  is
• 16:16
  the
• 16:17
  selling.
• 16:17
  So
• 16:18
  you've
• 16:18
  got
• 16:18
  to
• 16:19
  become,
• 16:19
  you
• 16:19
  know,
• 16:19
  rather
• 16:20
  than
• 16:20
  just
• 16:20
  a
• 16:21
  buyer
• 16:21
  of
• 16:21
  brands
• 16:22
  and
• 16:22
  then,
• 16:22
  you
• 16:22
  know,
• 16:22
  selling
• 16:22
  through
• 16:23
  normal
• 16:23
  retail
• 16:23
  channels,
• 16:24
  you're
• 16:24
  now
• 16:25
  selling
• 16:25
  media.
• 16:25
  So
• 16:26
  you're
• 16:26
  becoming
• 16:26
  a
• 16:26
  media
• 16:27
  house.
• 16:27
  You've
• 16:27
  got
• 16:28
  to
• 16:28
  learn
• 16:28
  all
• 16:28
  the
• 16:28
  media
• 16:29
  media
• 16:29
  acronyms,
• 16:30
  you've
• 16:30
  got
• 16:30
  to
• 16:30
  train
• 16:30
  your
• 16:30
  team,
• 16:31
  you've
• 16:31
  got
• 16:32
  to
• 16:32
  build
• 16:32
  almost
• 16:33
  an
• 16:33
  agency
• 16:33
  model
• 16:34
  within
• 16:34
  your
• 16:34
  own
• 16:34
  team
• 16:35
  and
• 16:35
  a
• 16:35
  selling
• 16:35
  model.
• 16:36
  And
• 16:36
  that's
• 16:36
  not
• 16:37
  something
• 16:37
  that
• 16:37
  comes
• 16:38
  inherently
• 16:38
  natural
• 16:38
  to
• 16:39
  retailers.
• 16:40
  So
• 16:40
  we've
• 16:40
  had
• 16:40
  to
• 16:41
  do
• 16:41
  that,
• 16:41
  we've
• 16:41
  had
• 16:41
  to
• 16:41
  work
• 16:41
  out
• 16:42
  how
• 16:42
  to
• 16:42
  sell,
• 16:43
  we've
• 16:43
  had
• 16:44
  to
• 16:44
  work
• 16:44
  out
• 16:44
  how
• 16:44
  to
• 16:45
  connect
• 16:45
  with
• 16:45
  media
• 16:46
  agencies
• 16:46
  and
• 16:46
  we're
• 16:47
  still
• 16:47
  learning
• 16:47
  along
• 16:47
  the
• 16:47
  way.
• 16:48
  So
• 16:48
  that's
• 16:48
  one
• 16:48
  bit
• 16:49
  that's
• 16:49
  evolving
• 16:49
  and
• 16:50
  you
• 16:50
  can't
• 16:51
  underestimate
• 16:51
  how
• 16:52
  much
• 16:52
  of
• 16:52
  a
• 16:52
  change
• 16:52
  that
• 16:53
  is
• 16:53
  for
• 16:53
  a
• 16:53
  retailer.
• 16:54
  And
• 16:54
  the
• 16:54
  other
• 16:55
  part
• 16:55
  is,
• 16:55
  how
• 16:56
  do
• 16:56
  you
• 16:56
  integrate
• 16:56
  a
• 16:56
  retail
• 16:57
  media
• 16:57
  network
• 16:57
  in
• 16:57
  your
• 16:58
  go
• 16:58
  to
• 16:58
  market
• 16:58
  process,
• 16:59
  in
• 16:59
  your
• 16:59
  brand
• 17:00
  marketing
• 17:00
  processes,
• 17:02
  in
• 17:02
  your
• 17:02
  financial
• 17:03
  planning,
• 17:03
  in
• 17:04
  everything?
• 17:04
  Because
• 17:05
  it's
• 17:05
  a
• 17:05
  new
• 17:06
  part
• 17:06
  of
• 17:06
  the
• 17:06
  business
• 17:06
  and
• 17:06
  a
• 17:07
  new
• 17:07
  muscle.
• 17:07
  And
• 17:08
  that
• 17:08
  change
• 17:08
  management
• 17:09
  and
• 17:09
  that
• 17:09
  process
• 17:10
  integration
• 17:10
  and
• 17:11
  that
• 17:11
  roles
• 17:11
  and
• 17:12
  accountability
• 17:12
  piece
• 17:13
  is
• 17:13
  also
• 17:13
  harder
• 17:14
  than
• 17:14
  you
• 17:14
  think
• 17:14
  it
• 17:14
  was
• 17:14
  going
• 17:14
  to
• 17:14
  be
• 17:15
  as
• 17:15
  well?
• 17:15
  Oh,
• 17:15
  yeah,
• 17:15
  no,
• 17:15
  I
• 17:15
  bet,
• 17:16
  yeah.
• 17:16
  The
• 17:16
  internal
• 17:16
  understanding
• 17:17
  of
• 17:17
  how
• 17:17
  to
• 17:17
  look
• 17:17
  at
• 17:18
  the
• 17:18
  numbers
• 17:18
  and
• 17:18
  everything
• 17:18
  coming
• 17:19
  in
• 17:19
  has
• 17:19
  got
• 17:19
  to
• 17:19
  be
• 17:19
  a
• 17:19
  trip
• 17:20
  in.
• 17:20
  A
• 17:20
  lot
• 17:20
  of
• 17:20
  ways.
• 17:21
  All
• 17:21
  right,
• 17:21
  there's
• 17:21
  one,
• 17:21
  there's,
• 17:22
  there's
• 17:22
  an
• 17:22
  acronym
• 17:22
  that
• 17:23
  you
• 17:23
  mentioned
• 17:23
  acronyms
• 17:23
  before.
• 17:23
  There's
• 17:24
  an
• 17:24
  acronym
• 17:24
  that
• 17:24
  we
• 17:24
  have
• 17:25
  not
• 17:25
  mentioned
• 17:25
  yet.
• 17:25
  I'm
• 17:25
  going
• 17:26
  to
• 17:26
  lose
• 17:26
  my
• 17:26
  Punnet
• 17:26
  card.
• 17:27
  If
• 17:27
  I
• 17:27
  don't
• 17:27
  ask
• 17:27
  you
• 17:27
  this
• 17:27
  final
• 17:28
  question,
• 17:28
  I
• 17:28
  think.
• 17:29
  And
• 17:29
  that
• 17:29
  of
• 17:29
  course
• 17:29
  is
• 17:30
  AI.
• 17:30
  How
• 17:31
  do
• 17:31
  you
• 17:31
  anticipate
• 17:32
  AI
• 17:32
  impacting
• 17:33
  the.
• 17:33
  Outdoor
• 17:33
  industry
• 17:34
  particularly
• 17:35
  and
• 17:35
  Cotswold
• 17:35
  as
• 17:35
  well?
• 17:37
  Yeah,
• 17:37
  I
• 17:37
  think
• 17:37
  it's
• 17:38
  going
• 17:38
  to,
• 17:38
  it's
• 17:38
  going
• 17:38
  to
• 17:39
  impact
• 17:39
  if
• 17:39
  it's
• 17:39
  not
• 17:39
  all
• 17:40
  retailers.
• 17:40
  So
• 17:41
  I
• 17:41
  think
• 17:41
  there's
• 17:41
  the,
• 17:42
  you
• 17:42
  know,
• 17:42
  there's
• 17:42
  obviously
• 17:43
  the
• 17:43
  productivity
• 17:43
  gains
• 17:44
  you
• 17:44
  can
• 17:44
  make,
• 17:44
  whether
• 17:44
  it's
• 17:45
  in
• 17:45
  your
• 17:45
  finance
• 17:46
  team
• 17:46
  and
• 17:46
  you
• 17:46
  customer
• 17:47
  services
• 17:47
  team.
• 17:47
  I
• 17:47
  think
• 17:47
  most
• 17:48
  people
• 17:48
  are
• 17:48
  generally
• 17:48
  starting
• 17:48
  a
• 17:49
  journey
• 17:49
  on
• 17:49
  that
• 17:49
  already.
• 17:50
  AI
• 17:51
  pricing,
• 17:51
  I
• 17:52
  think
• 17:52
  is
• 17:52
  something
• 17:53
  that
• 17:53
  we
• 17:54
  are
• 17:54
  focused
• 17:54
  on
• 17:54
  at
• 17:54
  the
• 17:55
  moment.
• 17:55
  I
• 17:55
  think
• 17:55
  that
• 17:55
  again,
• 17:57
  just
• 17:57
  allows
• 17:57
  you
• 17:57
  to
• 17:57
  accelerate
• 17:58
  into
• 17:58
  that
• 17:58
  space
• 17:59
  and
• 17:59
  make
• 17:59
  more
• 17:59
  informed
• 18:00
  decisions.
• 18:02
  I
• 18:02
  think
• 18:02
  the
• 18:02
  search
• 18:03
  journey
• 18:03
  is
• 18:03
  the
• 18:03
  one
• 18:04
  that
• 18:04
  is
• 18:05
  worrying
• 18:06
  me
• 18:06
  probably
• 18:06
  the
• 18:06
  most
• 18:07
  in
• 18:07
  terms
• 18:07
  of
• 18:07
  where
• 18:07
  the
• 18:08
  consumer
• 18:08
  search
• 18:08
  journey
• 18:09
  is
• 18:09
  starting
• 18:09
  through
• 18:10
  various
• 18:11
  increases
• 18:12
  in
• 18:12
  the
• 18:12
  LMM
• 18:13
  models,
• 18:13
  et
• 18:13
  cetera.
• 18:14
  So,
• 18:14
  yeah,
• 18:15
  so
• 18:15
  that,
• 18:15
  that
• 18:16
  performance
• 18:16
  marketing
• 18:17
  change,
• 18:18
  people
• 18:18
  moving
• 18:19
  potentially
• 18:19
  away
• 18:19
  from
• 18:20
  looking
• 18:20
  at
• 18:20
  Google
• 18:20
  and
• 18:21
  looking
• 18:21
  at
• 18:21
  ChatGPT
• 18:22
  or
• 18:22
  various
• 18:23
  other
• 18:23
  things
• 18:23
  or,
• 18:24
  you
• 18:24
  know,
• 18:24
  searching
• 18:24
  on
• 18:25
  TikTok
• 18:25
  or
• 18:26
  that's
• 18:26
  the
• 18:26
  thing
• 18:26
  that's
• 18:27
  starting
• 18:27
  to,
• 18:28
  I
• 18:28
  think
• 18:29
  we're
• 18:29
  starting
• 18:30
  to
• 18:30
  think
• 18:30
  more
• 18:30
  deeply
• 18:30
  about
• 18:31
  and
• 18:31
  when
• 18:31
  we
• 18:31
  know
• 18:31
  we're
• 18:32
  probably
• 18:32
  near
• 18:32
  where
• 18:32
  we
• 18:32
  need
• 18:32
  to
• 18:32
  be
• 18:33
  on
• 18:33
  that.
• 18:33
  But
• 18:33
  that's
• 18:33
  the
• 18:33
  thing
• 18:34
  that's
• 18:34
  probably
• 18:34
  going
• 18:34
  to
• 18:35
  accelerate
• 18:35
  the
• 18:35
  most
• 18:35
  because
• 18:36
  I
• 18:36
  think
• 18:36
  what's
• 18:36
  going
• 18:37
  to,
• 18:37
  what's
• 18:37
  going
• 18:37
  to
• 18:37
  accelerate
• 18:38
  the
• 18:38
  most
• 18:38
  about
• 18:38
  AI
• 18:38
  is
• 18:39
  how
• 18:39
  the
• 18:39
  consumer's
• 18:39
  using
• 18:39
  it.
• 18:40
  Yeah,
• 18:40
  right,
• 18:40
  right.
• 18:41
  Which
• 18:41
  is,
• 18:41
  which
• 18:41
  is
• 18:42
  particularly
• 18:42
  important
• 18:42
  given.
• 18:42
  What
• 18:42
  you
• 18:43
  said
• 18:43
  about
• 18:43
  the
• 18:43
  confidence
• 18:43
  that
• 18:44
  people
• 18:44
  get
• 18:44
  from
• 18:44
  shopping
• 18:45
  in
• 18:45
  your
• 18:45
  stores
• 18:45
  and
• 18:45
  whether
• 18:46
  they're
• 18:46
  getting
• 18:46
  that
• 18:46
  confidence
• 18:47
  in
• 18:47
  store
• 18:47
  or
• 18:47
  online
• 18:48
  or
• 18:48
  how
• 18:48
  it
• 18:48
  changes
• 18:48
  over
• 18:49
  time.
• 18:49
  It's
• 18:49
  got
• 18:49
  to
• 18:49
  be
• 18:49
  something
• 18:50
  top
• 18:50
  of.
• 18:50
  Mind,
• 18:50
  I
• 18:50
  think
• 18:51
  100%.
• 18:51
  Well,
• 18:52
  Jamie,
• 18:52
  thank
• 18:52
  you
• 18:52
  so
• 18:53
  much,
• 18:53
  man.
• 18:53
  Pleasure.
• 18:53
  This
• 18:54
  is
• 18:54
  a
• 18:54
  real
• 18:54
  pleasure.
• 18:54
  Yeah,
• 18:54
  it's
• 18:55
  great
• 18:55
  getting
• 18:55
  to
• 18:55
  talk
• 18:55
  to
• 18:55
  you.
• 18:55
  Jamie
• 18:56
  Christo,
• 18:56
  the
• 18:56
  CEO
• 18:57
  of
• 18:57
  Cotswold
• 18:58
  Outdoor,
• 18:58
  thank
• 18:58
  you
• 18:59
  for
• 18:59
  joining
• 18:59
  us.
• 19:00
  Hope
• 19:00
  you
• 19:00
  have
• 19:00
  a
• 19:00
  great
• 19:00
  rest
• 19:01
  of
• 19:01
  the
• 19:01
  retail
• 19:01
  technology
• 19:02
  show
• 19:02
  here
• 19:02
  in
• 19:02
  London.
• 19:03
  And
• 19:03
  until
• 19:04
  next
• 19:04
  time,
• 19:04
  as
• 19:04
  always,
• 19:05
  Omnitalk
• 19:06
  fans,
• 19:06
  be
• 19:06
  careful
• 19:06
  out
• 19:07
  there.