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Build Profit & Boost Loyalty? Learn Why Both Are Possible With AI Powered Pricing | Ask An Expert · Omni Talk Retail

• 0:00
  Foreign.
• 0:08
  Hello,
• 0:09
  welcome
• 0:09
  to
• 0:09
  another
• 0:10
  exciting
• 0:10
  and
• 0:10
  elucidating
• 0:11
  episode
• 0:11
  of
• 0:11
  the
• 0:12
  Omnitalk
• 0:12
  Ask
• 0:13
  an
• 0:13
  Expert
• 0:13
  series.
• 0:13
  I'm
• 0:14
  one
• 0:14
  of
• 0:14
  your
• 0:14
  co
• 0:14
  hosts
• 0:15
  for
• 0:15
  today,
• 0:15
  Anne
• 0:15
  Mazinga.
• 0:16
  And
• 0:16
  I'm
• 0:17
  Chris
• 0:17
  Walton.
• 0:17
  And
• 0:18
  we
• 0:18
  are
• 0:18
  the
• 0:18
  founders
• 0:18
  of
• 0:18
  Omnitalk,
• 0:19
  the
• 0:19
  fast
• 0:19
  growing
• 0:20
  retail
• 0:20
  media
• 0:20
  organization
• 0:21
  that
• 0:21
  is
• 0:21
  all
• 0:21
  about
• 0:21
  the
• 0:22
  companies,
• 0:22
  the
• 0:22
  technologies,
• 0:23
  and
• 0:23
  the
• 0:23
  people
• 0:24
  that
• 0:24
  are
• 0:24
  coming
• 0:24
  together
• 0:25
  to
• 0:25
  shape
• 0:25
  the
• 0:25
  future
• 0:25
  of
• 0:26
  retail.
• 0:27
  Chris,
• 0:28
  you
• 0:28
  and
• 0:28
  listeners
• 0:29
  are
• 0:29
  going
• 0:29
  to
• 0:30
  love,
• 0:31
  love,
• 0:31
  love
• 0:32
  this
• 0:32
  session
• 0:32
  because
• 0:33
  I'll
• 0:33
  never
• 0:33
  forget
• 0:34
  one
• 0:34
  of
• 0:34
  your
• 0:35
  stories
• 0:35
  from
• 0:35
  way
• 0:36
  back.
• 0:37
  You
• 0:37
  were
• 0:37
  telling
• 0:38
  us
• 0:38
  all
• 0:38
  about
• 0:39
  when
• 0:39
  you
• 0:39
  were
• 0:40
  a
• 0:40
  regional
• 0:41
  manager.
• 0:42
  Regional
• 0:42
  manager.
• 0:43
  What
• 0:43
  was
• 0:43
  your
• 0:43
  like
• 0:44
  at
• 0:44
  Target?
• 0:44
  Technically,
• 0:45
  I
• 0:45
  was
• 0:45
  a
• 0:45
  district
• 0:45
  manager
• 0:46
  is.
• 0:46
  What
• 0:46
  they
• 0:46
  call
• 0:46
  district
• 0:47
  manager.
• 0:47
  Thank
• 0:48
  you.
• 0:48
  Oversaw
• 0:48
  12
• 0:48
  stores
• 0:49
  and
• 0:49
  12
• 0:49
  stores.
• 0:50
  Okay.
• 0:50
  The
• 0:51
  district
• 0:51
  manager,
• 0:53
  I
• 0:53
  remember
• 0:53
  you
• 0:54
  telling
• 0:54
  us
• 0:54
  about
• 0:55
  one
• 0:55
  time
• 0:55
  when
• 0:56
  you
• 0:56
  told
• 0:56
  somebody
• 0:56
  in
• 0:57
  the
• 0:57
  store
• 0:57
  that
• 0:57
  the
• 0:57
  single
• 0:58
  most
• 0:58
  important
• 0:58
  thing
• 0:58
  that
• 0:59
  they
• 0:59
  could
• 0:59
  do
• 1:00
  to,
• 1:00
  like,
• 1:01
  impact
• 1:01
  the
• 1:01
  business
• 1:02
  in
• 1:02
  their
• 1:02
  job
• 1:03
  was
• 1:03
  to
• 1:03
  make
• 1:03
  sure
• 1:04
  that
• 1:04
  a
• 1:04
  pricing
• 1:05
  label,
• 1:05
  a
• 1:05
  promotion
• 1:06
  label
• 1:06
  was
• 1:07
  on
• 1:07
  a
• 1:07
  product.
• 1:07
  Do
• 1:07
  you
• 1:08
  remember
• 1:08
  that?
• 1:09
  A
• 1:09
  hundred
• 1:09
  percent?
• 1:10
  I
• 1:10
  do.
• 1:10
  Of
• 1:10
  course
• 1:10
  I
• 1:10
  do,
• 1:11
  Ed.
• 1:11
  Yeah,
• 1:12
  it
• 1:12
  shows
• 1:12
  you're
• 1:12
  listening
• 1:13
  to
• 1:13
  me.
• 1:14
  I'm
• 1:14
  always
• 1:14
  listening
• 1:15
  to
• 1:15
  you.
• 1:15
  But
• 1:15
  why
• 1:16
  was
• 1:16
  that
• 1:17
  one
• 1:17
  of
• 1:17
  the
• 1:17
  most
• 1:17
  important
• 1:18
  things?
• 1:18
  Chris,
• 1:18
  if
• 1:18
  you
• 1:19
  can
• 1:19
  briefly
• 1:19
  share
• 1:19
  with
• 1:20
  our
• 1:20
  audience.
• 1:20
  Cause
• 1:20
  I
• 1:20
  think
• 1:21
  it.
• 1:21
  It
• 1:21
  lends
• 1:21
  itself
• 1:22
  to
• 1:22
  our
• 1:22
  conversation
• 1:22
  today.
• 1:23
  Share
• 1:24
  that
• 1:24
  anecdote
• 1:24
  again
• 1:25
  today.
• 1:25
  Yeah,
• 1:25
  sure.
• 1:25
  I
• 1:26
  mean,
• 1:26
  I
• 1:26
  remember.
• 1:26
  I'll
• 1:26
  never
• 1:26
  forget
• 1:27
  it.
• 1:27
  I
• 1:27
  was
• 1:27
  walking,
• 1:27
  I
• 1:28
  think
• 1:28
  I
• 1:28
  was
• 1:28
  walking
• 1:28
  through
• 1:28
  a
• 1:29
  store,
• 1:29
  one
• 1:29
  of
• 1:29
  my
• 1:29
  stores
• 1:29
  I
• 1:29
  ran
• 1:30
  in
• 1:30
  Colorado,
• 1:30
  and
• 1:31
  I
• 1:31
  had
• 1:31
  a
• 1:31
  team
• 1:31
  member
• 1:31
  with
• 1:32
  me,
• 1:32
  and
• 1:32
  I
• 1:32
  was
• 1:32
  just
• 1:33
  walking
• 1:33
  in
• 1:33
  the
• 1:33
  back
• 1:33
  to
• 1:33
  meet
• 1:34
  the
• 1:34
  manager
• 1:34
  and.
• 1:35
  And
• 1:35
  I
• 1:35
  saw
• 1:35
  a
• 1:35
  price
• 1:35
  sign
• 1:36
  on
• 1:36
  the
• 1:36
  floor.
• 1:36
  And
• 1:36
  I
• 1:36
  said
• 1:36
  to
• 1:37
  him,
• 1:37
  hey,
• 1:37
  dude,
• 1:37
  pick
• 1:38
  that
• 1:38
  up
• 1:38
  and
• 1:38
  put
• 1:38
  it
• 1:38
  back
• 1:38
  on.
• 1:39
  And
• 1:39
  the
• 1:39
  guy
• 1:39
  was
• 1:39
  like,
• 1:40
  no,
• 1:40
  dude,
• 1:40
  really?
• 1:41
  Are
• 1:41
  you
• 1:41
  serious?
• 1:41
  Like,
• 1:41
  you're
• 1:42
  going
• 1:42
  to
• 1:42
  make
• 1:42
  me
• 1:42
  pick
• 1:42
  that
• 1:42
  up
• 1:43
  in
• 1:43
  front
• 1:43
  of
• 1:43
  you?
• 1:43
  I
• 1:43
  was
• 1:43
  like,
• 1:44
  yes.
• 1:44
  And
• 1:44
  here,
• 1:45
  let
• 1:45
  me
• 1:45
  tell
• 1:45
  you
• 1:45
  why
• 1:45
  that's
• 1:46
  important.
• 1:46
  I
• 1:46
  said
• 1:46
  to
• 1:46
  him,
• 1:47
  like,
• 1:47
  because
• 1:47
  I
• 1:47
  knew
• 1:47
  from
• 1:48
  my
• 1:48
  merchandising
• 1:48
  days
• 1:49
  at
• 1:49
  Target
• 1:49
  HQ
• 1:50
  that
• 1:50
  any
• 1:50
  time
• 1:51
  we
• 1:51
  took
• 1:51
  a
• 1:51
  promotion,
• 1:52
  sales
• 1:53
  were
• 1:53
  going
• 1:53
  to
• 1:53
  go
• 1:53
  up
• 1:54
  at
• 1:54
  least
• 1:54
  20%
• 1:55
  to
• 1:55
  sometimes
• 1:56
  as
• 1:56
  much
• 1:56
  as
• 1:56
  six
• 1:57
  times
• 1:57
  or
• 1:57
  more.
• 1:58
  And
• 1:58
  so
• 1:58
  there
• 1:58
  was
• 1:58
  no
• 1:59
  single
• 2:00
  activity
• 2:01
  that
• 2:01
  he
• 2:01
  could
• 2:02
  do
• 2:02
  on
• 2:02
  a
• 2:03
  given
• 2:03
  day
• 2:03
  that
• 2:04
  would
• 2:04
  be
• 2:04
  more
• 2:04
  impactful
• 2:05
  than
• 2:05
  him
• 2:05
  putting
• 2:06
  that
• 2:06
  price
• 2:06
  sign
• 2:07
  back
• 2:07
  on
• 2:07
  that
• 2:08
  item.
• 2:08
  And
• 2:08
  so,
• 2:09
  so
• 2:09
  I
• 2:10
  told
• 2:10
  that
• 2:10
  story
• 2:10
  almost
• 2:10
  every
• 2:11
  time
• 2:11
  since.
• 2:11
  And
• 2:12
  because
• 2:12
  I
• 2:12
  saw
• 2:12
  the
• 2:12
  light
• 2:12
  bulb
• 2:12
  go
• 2:13
  on
• 2:13
  in
• 2:13
  his
• 2:13
  head,
• 2:13
  he's
• 2:13
  like,
• 2:14
  oh,
• 2:14
  I
• 2:14
  didn't
• 2:14
  know
• 2:15
  that.
• 2:15
  You
• 2:15
  just
• 2:15
  put
• 2:15
  that
• 2:15
  in
• 2:16
  a
• 2:16
  context
• 2:16
  that
• 2:16
  I
• 2:16
  can
• 2:16
  understand.
• 2:17
  And
• 2:17
  so,
• 2:18
  yeah,
• 2:18
  it's
• 2:18
  a
• 2:18
  really
• 2:18
  powerful
• 2:19
  anecdote
• 2:19
  that
• 2:19
  I
• 2:19
  think
• 2:19
  tells
• 2:20
  you
• 2:20
  just
• 2:20
  the
• 2:20
  power
• 2:20
  of
• 2:20
  promotions
• 2:21
  and
• 2:21
  getting
• 2:21
  them
• 2:22
  executed
• 2:22
  correctly
• 2:22
  at
• 2:23
  the
• 2:23
  store
• 2:23
  level.
• 2:23
  Yes.
• 2:24
  And
• 2:24
  the
• 2:25
  importance
• 2:25
  of
• 2:26
  pricing
• 2:26
  optimization.
• 2:27
  So
• 2:27
  we've
• 2:27
  heard
• 2:28
  from.
• 2:28
  We
• 2:28
  just
• 2:28
  came
• 2:29
  back
• 2:29
  from
• 2:29
  a
• 2:30
  conference
• 2:30
  fmi,
• 2:31
  the
• 2:31
  Food
• 2:31
  Market
• 2:32
  Institute
• 2:32
  down
• 2:32
  in
• 2:33
  Florida,
• 2:33
  where
• 2:33
  we
• 2:33
  were
• 2:33
  talking
• 2:33
  to
• 2:34
  tons
• 2:34
  of
• 2:34
  retailers,
• 2:35
  especially
• 2:35
  retailers
• 2:36
  in
• 2:36
  the
• 2:36
  grocery
• 2:36
  space.
• 2:37
  They're
• 2:38
  all
• 2:38
  looking
• 2:38
  into
• 2:39
  how
• 2:39
  they
• 2:39
  can
• 2:40
  like
• 2:41
  optimize
• 2:41
  pricing
• 2:42
  because
• 2:42
  of
• 2:42
  how
• 2:43
  impactful
• 2:44
  that
• 2:44
  is
• 2:44
  to
• 2:44
  getting
• 2:45
  customers
• 2:46
  in
• 2:46
  the
• 2:46
  door
• 2:46
  and
• 2:46
  retaining
• 2:47
  existing
• 2:47
  customers.
• 2:48
  So,
• 2:48
  Chris,
• 2:49
  I
• 2:50
  did
• 2:50
  some
• 2:50
  digging
• 2:51
  and
• 2:51
  I
• 2:51
  found
• 2:52
  someone
• 2:52
  who
• 2:52
  could
• 2:53
  help
• 2:53
  us
• 2:54
  who's
• 2:54
  an
• 2:54
  expert
• 2:55
  on
• 2:55
  this
• 2:56
  process
• 2:56
  about
• 2:57
  how
• 2:57
  retailers
• 2:57
  can
• 2:58
  get
• 2:58
  their
• 2:58
  pricing
• 2:58
  strategy
• 2:59
  in
• 2:59
  order
• 2:59
  and
• 3:00
  also
• 3:01
  provide
• 3:01
  better
• 3:01
  customer
• 3:02
  experiences
• 3:02
  as
• 3:02
  a
• 3:03
  result.
• 3:04
  We
• 3:04
  have
• 3:04
  called
• 3:05
  on
• 3:05
  Matt
• 3:06
  Havich,
• 3:06
  the
• 3:06
  senior
• 3:07
  director
• 3:07
  of
• 3:07
  strategy
• 3:08
  and
• 3:08
  innovation
• 3:09
  at
• 3:09
  revionics,
• 3:10
  so
• 3:10
  let's
• 3:10
  welcome
• 3:11
  him
• 3:11
  to
• 3:11
  the
• 3:11
  show.
• 3:12
  Matt,
• 3:12
  how
• 3:13
  are
• 3:13
  you
• 3:13
  doing?
• 3:13
  Thanks
• 3:14
  for
• 3:14
  joining
• 3:14
  us
• 3:14
  and
• 3:15
  taking
• 3:15
  time
• 3:15
  to
• 3:15
  educate
• 3:16
  all
• 3:16
  of
• 3:16
  us
• 3:16
  here
• 3:16
  on
• 3:17
  omnitalk
• 3:17
  today.
• 3:18
  Doing
• 3:19
  great.
• 3:19
  Thanks
• 3:19
  for
• 3:19
  having
• 3:20
  me.
• 3:20
  Very
• 3:20
  excited
• 3:20
  to
• 3:21
  talk
• 3:21
  with
• 3:21
  you
• 3:21
  both
• 3:21
  today.
• 3:22
  Yeah,
• 3:22
  I'm
• 3:23
  excited
• 3:23
  to
• 3:23
  pick
• 3:23
  your
• 3:24
  brain
• 3:24
  and
• 3:24
  get
• 3:24
  your
• 3:24
  opinion
• 3:25
  on
• 3:25
  how
• 3:25
  do
• 3:25
  you.
• 3:25
  How
• 3:26
  retailers
• 3:26
  should
• 3:26
  navigate
• 3:27
  the
• 3:27
  pricing
• 3:27
  environment,
• 3:27
  especially
• 3:28
  in
• 3:28
  today's,
• 3:29
  today's
• 3:29
  macroeconomic
• 3:30
  climate,
• 3:30
  too.
• 3:30
  There's
• 3:31
  a
• 3:31
  lot
• 3:31
  going
• 3:31
  on
• 3:31
  here,
• 3:32
  Matt,
• 3:32
  that
• 3:32
  we're
• 3:32
  excited
• 3:33
  to
• 3:33
  talk
• 3:33
  to
• 3:33
  you.
• 3:33
  So.
• 3:34
  But
• 3:34
  before
• 3:34
  we
• 3:34
  get
• 3:34
  started,
• 3:35
  just
• 3:35
  a
• 3:35
  quick
• 3:35
  reminder.
• 3:36
  For
• 3:36
  those
• 3:36
  watching
• 3:37
  live
• 3:37
  on
• 3:37
  LinkedIn,
• 3:38
  feel
• 3:38
  free
• 3:38
  to
• 3:38
  ask
• 3:38
  your
• 3:39
  questions
• 3:39
  of
• 3:39
  Matt
• 3:40
  or
• 3:40
  Anne
• 3:40
  or
• 3:40
  myself
• 3:41
  at
• 3:41
  any
• 3:41
  time
• 3:41
  via
• 3:42
  the
• 3:42
  chat
• 3:42
  session
• 3:42
  window
• 3:43
  in
• 3:43
  LinkedIn.
• 3:44
  Just
• 3:44
  the
• 3:45
  right
• 3:45
  hand
• 3:45
  side
• 3:45
  of
• 3:45
  your
• 3:45
  stream.
• 3:46
  If
• 3:46
  you're
• 3:46
  on
• 3:46
  your
• 3:46
  desktop
• 3:47
  or
• 3:47
  below,
• 3:47
  if
• 3:48
  you're
• 3:48
  on
• 3:48
  your
• 3:48
  mobile
• 3:49
  phone,
• 3:49
  put
• 3:50
  them
• 3:50
  in
• 3:50
  there
• 3:50
  and
• 3:50
  let's
• 3:50
  get
• 3:51
  it
• 3:51
  going.
• 3:52
  All
• 3:52
  right.
• 3:53
  Well,
• 3:53
  Matt,
• 3:54
  before
• 3:54
  we
• 3:54
  dive
• 3:54
  in,
• 3:55
  we
• 3:55
  mentioned
• 3:56
  that
• 3:56
  you're
• 3:56
  an
• 3:56
  expert
• 3:57
  in
• 3:57
  this
• 3:57
  area,
• 3:58
  so
• 3:58
  why
• 3:58
  don't
• 3:58
  you
• 3:58
  give
• 3:58
  us
• 3:59
  a
• 3:59
  little
• 3:59
  bit
• 3:59
  of
• 3:59
  your
• 4:00
  and
• 4:01
  a
• 4:01
  little
• 4:01
  bit
• 4:01
  about
• 4:02
  your
• 4:02
  role
• 4:02
  and
• 4:02
  what
• 4:03
  Revionics
• 4:04
  does,
• 4:04
  if
• 4:04
  you
• 4:04
  don't
• 4:04
  mind.
• 4:05
  Yeah,
• 4:05
  great.
• 4:06
  So.
• 4:07
  So
• 4:08
  a
• 4:08
  lot
• 4:08
  of
• 4:08
  people
• 4:08
  say
• 4:08
  they
• 4:08
  grow
• 4:09
  up
• 4:09
  in
• 4:09
  retail.
• 4:09
  I
• 4:10
  actually
• 4:10
  did
• 4:11
  grow
• 4:11
  up
• 4:11
  in
• 4:11
  retail.
• 4:11
  My
• 4:11
  parents
• 4:12
  owned
• 4:12
  a
• 4:12
  store.
• 4:13
  I
• 4:13
  was
• 4:13
  walking
• 4:14
  around
• 4:14
  the
• 4:14
  store
• 4:14
  as
• 4:14
  a
• 4:15
  toddler,
• 4:15
  like
• 4:15
  learning
• 4:16
  really.
• 4:16
  Running
• 4:17
  a
• 4:17
  small
• 4:17
  store.
• 4:18
  Yeah.
• 4:18
  So
• 4:19
  what
• 4:19
  kind
• 4:19
  of
• 4:19
  store
• 4:20
  was
• 4:20
  a
• 4:20
  convenience
• 4:21
  store?
• 4:21
  Gas
• 4:21
  station,
• 4:22
  you
• 4:22
  know,
• 4:22
  selling
• 4:23
  all
• 4:23
  the,
• 4:23
  you
• 4:23
  know,
• 4:23
  traditional
• 4:24
  convenience
• 4:24
  store
• 4:24
  things,
• 4:25
  you
• 4:25
  know,
• 4:25
  candies,
• 4:26
  you
• 4:26
  know,
• 4:26
  coffee,
• 4:27
  tobacco,
• 4:27
  that
• 4:27
  sort
• 4:28
  of
• 4:28
  stuff.
• 4:29
  So
• 4:29
  I
• 4:30
  did
• 4:30
  literally
• 4:30
  grow
• 4:31
  up
• 4:31
  in
• 4:31
  retail
• 4:31
  and
• 4:31
  that
• 4:32
  continued
• 4:32
  all
• 4:32
  the
• 4:32
  way
• 4:32
  through
• 4:33
  stocking
• 4:33
  shelves
• 4:33
  at
• 4:33
  Myers
• 4:34
  as
• 4:34
  I
• 4:34
  was
• 4:35
  growing
• 4:35
  up
• 4:35
  in
• 4:35
  Michigan,
• 4:36
  you
• 4:36
  know,
• 4:36
  to
• 4:36
  pay
• 4:36
  for
• 4:36
  college.
• 4:37
  So
• 4:37
  I've
• 4:37
  been
• 4:37
  in
• 4:37
  the
• 4:38
  trenches.
• 4:38
  I've
• 4:38
  hung
• 4:39
  those
• 4:39
  price
• 4:39
  tag
• 4:40
  signs.
• 4:41
  But,
• 4:41
  you
• 4:41
  know,
• 4:41
  More.
• 4:42
  More
• 4:42
  probably
• 4:43
  relevant
• 4:43
  to
• 4:43
  today's
• 4:44
  audience.
• 4:44
  I've
• 4:45
  also,
• 4:45
  you
• 4:45
  know,
• 4:45
  I
• 4:46
  also
• 4:46
  worked
• 4:46
  at
• 4:46
  Target,
• 4:47
  so
• 4:47
  good
• 4:47
  to
• 4:47
  see
• 4:48
  a
• 4:48
  fellow,
• 4:49
  you
• 4:49
  know,
• 4:49
  person
• 4:50
  from
• 4:50
  my
• 4:50
  Target
• 4:50
  time
• 4:51
  where
• 4:51
  I
• 4:51
  worked
• 4:52
  at
• 4:52
  headquarters
• 4:52
  as
• 4:52
  a
• 4:53
  merchant
• 4:53
  in
• 4:53
  several
• 4:54
  functions.
• 4:54
  A
• 4:54
  grocery
• 4:55
  buyer,
• 4:55
  I
• 4:55
  was
• 4:55
  a
• 4:55
  pharmacy
• 4:56
  buyer.
• 4:56
  I
• 4:56
  helped
• 4:56
  develop
• 4:56
  some
• 4:57
  private
• 4:57
  label
• 4:57
  products
• 4:58
  and
• 4:59
  it
• 4:59
  also
• 4:59
  helped
• 4:59
  with
• 4:59
  some
• 5:00
  strategic
• 5:01
  initiatives
• 5:01
  like
• 5:02
  the
• 5:02
  launch
• 5:02
  of
• 5:02
  the
• 5:02
  original
• 5:03
  Cartwheel
• 5:03
  app,
• 5:04
  which
• 5:04
  is
• 5:04
  now
• 5:04
  called
• 5:04
  Circle.
• 5:05
  Oh,
• 5:05
  yeah.
• 5:06
  From
• 5:07
  there
• 5:07
  I
• 5:07
  moved
• 5:07
  to
• 5:08
  Revionics.
• 5:09
  And
• 5:09
  what's
• 5:09
  great
• 5:09
  about
• 5:09
  Revionics
• 5:10
  is
• 5:11
  I've
• 5:12
  been
• 5:12
  here
• 5:12
  for
• 5:12
  12
• 5:12
  years
• 5:13
  and
• 5:13
  multiple
• 5:13
  roles,
• 5:14
  really
• 5:15
  continuing
• 5:15
  to
• 5:15
  wear
• 5:16
  that
• 5:16
  retailer
• 5:16
  hat
• 5:16
  and
• 5:16
  helping
• 5:17
  retailers
• 5:17
  develop
• 5:18
  the
• 5:18
  best
• 5:18
  pricing
• 5:19
  practices
• 5:19
  possible
• 5:20
  with
• 5:20
  the
• 5:20
  best
• 5:21
  pricing
• 5:21
  solution
• 5:22
  to
• 5:22
  really
• 5:22
  help
• 5:23
  them
• 5:23
  drive
• 5:23
  their
• 5:23
  business
• 5:24
  objectives.
• 5:24
  So
• 5:24
  a
• 5:24
  little
• 5:25
  more
• 5:25
  about
• 5:25
  Revionics.
• 5:26
  You
• 5:27
  know,
• 5:27
  we
• 5:27
  do
• 5:27
  price
• 5:27
  optimization.
• 5:29
  We're
• 5:29
  really
• 5:29
  focused
• 5:30
  on
• 5:30
  having
• 5:30
  the
• 5:30
  best
• 5:30
  pricing
• 5:31
  AI
• 5:31
  in
• 5:31
  the
• 5:31
  market.
• 5:32
  We
• 5:32
  work
• 5:32
  with,
• 5:33
  you
• 5:33
  know,
• 5:33
  many
• 5:34
  top
• 5:34
  retailers,
• 5:35
  12
• 5:35
  of
• 5:35
  the
• 5:35
  top
• 5:35
  50
• 5:35
  retailers,
• 5:36
  you
• 5:36
  know,
• 5:37
  in
• 5:37
  more
• 5:37
  than
• 5:37
  35
• 5:38
  countries.
• 5:38
  And
• 5:39
  our
• 5:39
  goal
• 5:39
  is
• 5:39
  to
• 5:39
  really
• 5:39
  help
• 5:40
  them
• 5:40
  have
• 5:40
  the
• 5:40
  right
• 5:41
  price
• 5:41
  for
• 5:41
  their
• 5:41
  consumers
• 5:42
  at
• 5:42
  all
• 5:42
  time
• 5:43
  and
• 5:43
  really
• 5:43
  help
• 5:43
  them
• 5:44
  implement
• 5:44
  their
• 5:44
  strategies
• 5:45
  in
• 5:45
  a
• 5:45
  way
• 5:45
  that's
• 5:45
  meaningful
• 5:46
  for
• 5:46
  them.
• 5:46
  You
• 5:46
  know,
• 5:47
  every
• 5:47
  company
• 5:47
  has
• 5:48
  a
• 5:48
  different
• 5:48
  strategic
• 5:49
  need,
• 5:49
  a
• 5:50
  different
• 5:50
  goal
• 5:50
  objective.
• 5:51
  But,
• 5:51
  but
• 5:51
  you
• 5:52
  mentioned
• 5:52
  it.
• 5:52
  Right
• 5:52
  now,
• 5:53
  pricing
• 5:53
  is
• 5:53
  king.
• 5:54
  So
• 5:55
  it's
• 5:55
  a
• 5:55
  good
• 5:55
  time
• 5:55
  to
• 5:55
  be
• 5:56
  in
• 5:56
  pricing.
• 5:56
  And
• 5:57
  we're
• 5:57
  really
• 5:58
  lucky
• 5:58
  to
• 5:58
  have
• 5:58
  some
• 5:58
  great
• 5:58
  retail
• 5:59
  partners
• 5:59
  and
• 5:59
  work
• 6:00
  with
• 6:00
  them
• 6:00
  to
• 6:00
  build
• 6:00
  some
• 6:01
  fantastic
• 6:01
  pricing
• 6:01
  strategies.
• 6:03
  And
• 6:03
  Matt,
• 6:03
  because
• 6:04
  this
• 6:04
  question,
• 6:04
  this
• 6:05
  question
• 6:05
  is
• 6:05
  actually
• 6:05
  more
• 6:05
  important
• 6:06
  than
• 6:06
  probably
• 6:06
  people
• 6:06
  realize,
• 6:07
  is
• 6:07
  that
• 6:07
  pricing
• 6:07
  optimization
• 6:08
  both
• 6:08
  in
• 6:08
  stores
• 6:09
  and
• 6:09
  online.
• 6:10
  Yeah.
• 6:10
  I
• 6:11
  mean,
• 6:11
  pricing
• 6:11
  optimization
• 6:12
  is
• 6:12
  whatever
• 6:13
  channel,
• 6:13
  whatever
• 6:14
  store,
• 6:14
  whatever
• 6:14
  customer.
• 6:16
  You
• 6:16
  know,
• 6:16
  it's
• 6:16
  base,
• 6:17
  it's
• 6:17
  promo,
• 6:17
  it's
• 6:18
  markdown,
• 6:19
  it's,
• 6:19
  you
• 6:19
  know,
• 6:19
  it's
• 6:20
  those
• 6:20
  TPRs.
• 6:21
  It's
• 6:21
  all
• 6:21
  the
• 6:21
  things
• 6:22
  that
• 6:22
  really
• 6:22
  matter.
• 6:23
  It's
• 6:23
  making
• 6:23
  sure
• 6:24
  that
• 6:24
  you
• 6:24
  have
• 6:25
  the
• 6:25
  right
• 6:25
  and
• 6:26
  analytics
• 6:26
  to
• 6:27
  say,
• 6:27
  hey,
• 6:27
  these
• 6:27
  are,
• 6:28
  these
• 6:28
  are
• 6:28
  the
• 6:28
  items
• 6:28
  that
• 6:28
  are
• 6:28
  most
• 6:29
  important
• 6:29
  to
• 6:29
  price,
• 6:30
  you
• 6:30
  know,
• 6:30
  for
• 6:30
  your
• 6:30
  customers.
• 6:31
  And
• 6:31
  then,
• 6:31
  you
• 6:32
  know,
• 6:32
  having
• 6:32
  the
• 6:32
  science
• 6:32
  to
• 6:32
  help
• 6:33
  you
• 6:33
  figure
• 6:33
  out
• 6:33
  all
• 6:33
  the
• 6:33
  other
• 6:34
  stuff,
• 6:34
  you
• 6:35
  know,
• 6:35
  along
• 6:35
  the
• 6:35
  way
• 6:35
  from,
• 6:36
  you
• 6:36
  know.
• 6:36
  Yeah.
• 6:37
  How
• 6:37
  do
• 6:37
  you,
• 6:37
  how
• 6:37
  do
• 6:37
  you
• 6:37
  make
• 6:37
  up
• 6:37
  the
• 6:38
  margin
• 6:38
  on
• 6:38
  the
• 6:38
  back
• 6:38
  end
• 6:39
  if
• 6:39
  you're,
• 6:39
  you
• 6:39
  know,
• 6:39
  really
• 6:40
  working
• 6:40
  to
• 6:40
  grow
• 6:40
  your
• 6:41
  price
• 6:41
  perception
• 6:42
  on
• 6:42
  some
• 6:42
  key
• 6:42
  items.
• 6:43
  So
• 6:44
  interesting.
• 6:45
  All
• 6:45
  right,
• 6:45
  so
• 6:46
  let's
• 6:46
  get
• 6:46
  started
• 6:46
  with
• 6:46
  this.
• 6:47
  Let's
• 6:47
  get
• 6:47
  this
• 6:47
  webinar
• 6:48
  kicked
• 6:48
  off
• 6:48
  here.
• 6:48
  So,
• 6:49
  you
• 6:49
  know,
• 6:49
  pricing,
• 6:50
  it's
• 6:51
  not
• 6:51
  a
• 6:51
  new
• 6:51
  thing.
• 6:51
  I
• 6:51
  mean,
• 6:51
  retailers
• 6:52
  have
• 6:52
  been
• 6:52
  trying
• 6:52
  to
• 6:52
  get
• 6:53
  right
• 6:53
  price
• 6:53
  forever,
• 6:54
  but
• 6:54
  it's,
• 6:54
  it's
• 6:55
  more
• 6:55
  complicated
• 6:56
  now
• 6:56
  than
• 6:56
  I
• 6:56
  think
• 6:56
  it
• 6:56
  was
• 6:57
  probably
• 6:57
  20
• 6:57
  or
• 6:57
  30
• 6:57
  years
• 6:58
  ago
• 6:58
  because
• 6:58
  customers
• 6:59
  can
• 6:59
  See
• 6:59
  your
• 6:59
  competitors
• 7:00
  prices
• 7:00
  online
• 7:01
  at
• 7:01
  any
• 7:01
  time,
• 7:01
  hence
• 7:02
  why
• 7:02
  I
• 7:02
  asked
• 7:02
  that
• 7:02
  question
• 7:02
  via
• 7:03
  their
• 7:03
  mobile
• 7:03
  phone
• 7:03
  while
• 7:03
  they're
• 7:04
  shopping
• 7:04
  in
• 7:04
  your
• 7:04
  store.
• 7:05
  So
• 7:06
  give
• 7:06
  us
• 7:06
  a
• 7:06
  little
• 7:06
  bit
• 7:07
  of
• 7:07
  the
• 7:07
  landscape
• 7:07
  here.
• 7:08
  What
• 7:08
  is
• 7:08
  going
• 7:08
  on
• 7:09
  right
• 7:09
  now
• 7:09
  that
• 7:10
  makes
• 7:10
  this
• 7:10
  a
• 7:10
  particularly
• 7:11
  complex
• 7:11
  battle
• 7:12
  for
• 7:12
  retailers?
• 7:13
  Yeah,
• 7:14
  no,
• 7:14
  it's
• 7:14
  a,
• 7:14
  it's
• 7:15
  a,
• 7:15
  interesting
• 7:16
  time
• 7:16
  to
• 7:16
  be
• 7:16
  in
• 7:16
  pricing.
• 7:17
  So
• 7:18
  you
• 7:18
  have
• 7:18
  to,
• 7:18
  what
• 7:19
  you
• 7:19
  just
• 7:19
  called
• 7:19
  out.
• 7:19
  You
• 7:20
  have
• 7:20
  the
• 7:20
  most
• 7:20
  competitive
• 7:21
  era
• 7:22
  ever
• 7:22
  in
• 7:22
  pricing.
• 7:23
  You
• 7:23
  know,
• 7:23
  I
• 7:23
  personally,
• 7:24
  when
• 7:24
  I'm
• 7:24
  shopping
• 7:24
  groceries,
• 7:25
  I
• 7:25
  will
• 7:25
  have
• 7:25
  multiple
• 7:26
  tabs
• 7:26
  open
• 7:26
  to
• 7:27
  see,
• 7:27
  you
• 7:27
  know,
• 7:27
  because
• 7:27
  it
• 7:28
  comes
• 7:28
  to
• 7:28
  my
• 7:28
  door,
• 7:28
  really,
• 7:29
  you
• 7:29
  know.
• 7:29
  Yeah,
• 7:31
  super
• 7:31
  grocery
• 7:32
  shopper.
• 7:32
  Matt,
• 7:33
  like
• 7:33
  you
• 7:33
  are
• 7:33
  the,
• 7:34
  you
• 7:34
  are
• 7:34
  the
• 7:35
  powerful
• 7:35
  grocery
• 7:36
  shopper
• 7:36
  that
• 7:36
  most
• 7:37
  powerful.
• 7:37
  And
• 7:37
  he
• 7:37
  knows
• 7:37
  the
• 7:37
  game
• 7:38
  too,
• 7:38
  right?
• 7:39
  He
• 7:39
  knows
• 7:39
  the.
• 7:39
  Yeah,
• 7:39
  when
• 7:40
  you're,
• 7:40
  when
• 7:40
  you,
• 7:41
  when
• 7:41
  you
• 7:41
  have
• 7:41
  the
• 7:41
  inside
• 7:41
  track,
• 7:42
  you
• 7:42
  know,
• 7:42
  you
• 7:42
  know,
• 7:42
  you
• 7:43
  know
• 7:43
  the
• 7:43
  different
• 7:43
  pricing
• 7:44
  things
• 7:44
  going
• 7:44
  on.
• 7:44
  Right.
• 7:45
  But,
• 7:45
  but
• 7:45
  I
• 7:45
  will
• 7:45
  say,
• 7:46
  look,
• 7:46
  people
• 7:46
  have
• 7:47
  access
• 7:47
  to
• 7:47
  a
• 7:48
  wide
• 7:48
  range
• 7:48
  of
• 7:49
  retailers
• 7:49
  online
• 7:50
  in
• 7:50
  store.
• 7:51
  They
• 7:51
  have
• 7:51
  different
• 7:51
  ways
• 7:52
  to
• 7:52
  have
• 7:52
  the
• 7:52
  product
• 7:52
  delivered
• 7:53
  to
• 7:53
  them.
• 7:53
  They
• 7:53
  have
• 7:53
  different
• 7:53
  levels
• 7:54
  of
• 7:54
  convenience.
• 7:55
  So
• 7:55
  it's
• 7:55
  hyper
• 7:56
  competitive.
• 7:56
  Coming
• 7:56
  off
• 7:57
  of
• 7:57
  that,
• 7:57
  we're
• 7:57
  coming
• 7:57
  off
• 7:58
  of,
• 7:58
  you
• 7:58
  know,
• 7:59
  multiple
• 7:59
  years
• 7:59
  of
• 8:00
  inflation.
• 8:00
  Consumers
• 8:01
  are
• 8:01
  down,
• 8:01
  trading
• 8:02
  in
• 8:02
  record
• 8:02
  numbers.
• 8:02
  And
• 8:02
  that
• 8:03
  downtrend
• 8:03
  could
• 8:03
  be
• 8:03
  anything
• 8:04
  from
• 8:04
  looking
• 8:04
  for
• 8:04
  more
• 8:05
  promotions
• 8:05
  to
• 8:06
  switching
• 8:06
  the
• 8:06
  retailer
• 8:07
  to
• 8:07
  shop
• 8:07
  at
• 8:07
  a
• 8:07
  more
• 8:08
  affordable
• 8:08
  retailer
• 8:09
  to,
• 8:10
  you
• 8:10
  know,
• 8:10
  trying
• 8:10
  more
• 8:10
  private
• 8:11
  label
• 8:11
  products
• 8:12
  to
• 8:12
  trying
• 8:12
  to
• 8:13
  volume
• 8:13
  purchase
• 8:13
  so
• 8:14
  they
• 8:14
  can
• 8:14
  get
• 8:14
  more
• 8:15
  bulk,
• 8:15
  you
• 8:15
  know,
• 8:15
  more
• 8:15
  warehouse,
• 8:16
  those
• 8:16
  sort
• 8:16
  of
• 8:16
  things,
• 8:17
  or
• 8:17
  bigger,
• 8:17
  bigger
• 8:18
  containers.
• 8:18
  So
• 8:19
  they're
• 8:19
  trying
• 8:19
  everything.
• 8:20
  So
• 8:20
  they
• 8:20
  absolutely
• 8:21
  need
• 8:22
  to
• 8:22
  find
• 8:22
  good
• 8:23
  prices
• 8:23
  and
• 8:23
  they
• 8:23
  are
• 8:23
  voting
• 8:24
  with
• 8:24
  their
• 8:24
  share
• 8:24
  of
• 8:24
  wallet
• 8:25
  and
• 8:25
  they're
• 8:25
  making
• 8:26
  that
• 8:26
  decision
• 8:26
  every
• 8:27
  day,
• 8:27
  live
• 8:27
  in
• 8:28
  real
• 8:28
  time.
• 8:28
  Also
• 8:29
  the
• 8:29
  data
• 8:29
  is
• 8:29
  getting
• 8:30
  better,
• 8:30
  the
• 8:30
  speed
• 8:31
  is
• 8:31
  getting
• 8:32
  better.
• 8:32
  Right.
• 8:33
  Retailers
• 8:33
  who
• 8:33
  used
• 8:33
  to
• 8:34
  price
• 8:34
  once
• 8:34
  a
• 8:34
  month
• 8:35
  or
• 8:35
  once
• 8:35
  a
• 8:35
  week
• 8:36
  are
• 8:36
  now
• 8:36
  pricing
• 8:36
  weekly
• 8:37
  or
• 8:37
  daily.
• 8:37
  Right.
• 8:38
  It's
• 8:38
  at
• 8:38
  different
• 8:38
  speed.
• 8:39
  And
• 8:40
  now
• 8:40
  we're
• 8:40
  coming
• 8:41
  off
• 8:41
  kind
• 8:41
  of
• 8:42
  the,
• 8:42
  the
• 8:42
  peak
• 8:43
  inflationary
• 8:43
  concern
• 8:44
  and
• 8:44
  now
• 8:44
  we're
• 8:44
  moving
• 8:45
  into
• 8:45
  a
• 8:45
  period
• 8:45
  where
• 8:46
  we
• 8:46
  have
• 8:46
  to
• 8:46
  worry
• 8:47
  about
• 8:47
  tariffs
• 8:48
  and
• 8:48
  there's
• 8:49
  some
• 8:49
  other
• 8:49
  supply
• 8:50
  chain
• 8:50
  challenges
• 8:50
  that
• 8:51
  are
• 8:51
  kind
• 8:51
  of
• 8:51
  creeping
• 8:51
  up
• 8:51
  on
• 8:52
  the
• 8:52
  horizon
• 8:52
  and
• 8:53
  crop
• 8:53
  shortages
• 8:54
  which
• 8:54
  could
• 8:54
  lead
• 8:54
  to
• 8:55
  supply
• 8:55
  chain
• 8:55
  challenges
• 8:56
  that
• 8:56
  could
• 8:56
  lead
• 8:57
  to
• 8:57
  higher
• 8:57
  pricing.
• 8:58
  And
• 8:58
  you
• 8:58
  mix
• 8:58
  all
• 8:58
  of
• 8:59
  this
• 8:59
  together
• 8:59
  and
• 8:59
  retailers
• 9:00
  really
• 9:00
  have
• 9:01
  this
• 9:01
  unique
• 9:01
  puzzle
• 9:02
  where
• 9:02
  they're
• 9:02
  really
• 9:02
  trying
• 9:03
  to,
• 9:03
  you
• 9:03
  know,
• 9:04
  continue
• 9:04
  to
• 9:04
  win
• 9:04
  over
• 9:05
  those
• 9:05
  loyal
• 9:05
  customers
• 9:06
  with
• 9:06
  the
• 9:07
  right
• 9:07
  prices
• 9:07
  on
• 9:08
  the
• 9:08
  right
• 9:08
  products
• 9:08
  and
• 9:08
  the
• 9:08
  right
• 9:09
  promotions,
• 9:09
  while
• 9:10
  also
• 9:10
  trying
• 9:10
  to
• 9:10
  figure
• 9:10
  out,
• 9:10
  hey
• 9:11
  man,
• 9:11
  my
• 9:11
  costs
• 9:11
  are
• 9:11
  going
• 9:12
  up
• 9:12
  or
• 9:12
  they
• 9:12
  will
• 9:13
  go
• 9:13
  up
• 9:13
  pretty
• 9:13
  significantly
• 9:14
  with
• 9:14
  tariffs.
• 9:15
  Like
• 9:15
  how
• 9:15
  am
• 9:16
  I
• 9:16
  going
• 9:16
  to
• 9:16
  balance
• 9:16
  this
• 9:16
  out
• 9:17
  and
• 9:17
  how
• 9:17
  am
• 9:17
  I
• 9:17
  going
• 9:17
  to
• 9:17
  do
• 9:17
  this
• 9:18
  in
• 9:18
  A
• 9:18
  way
• 9:18
  that
• 9:18
  really
• 9:18
  meets
• 9:19
  all
• 9:19
  my
• 9:19
  business
• 9:19
  objectives.
• 9:21
  Matt,
• 9:21
  you
• 9:21
  also
• 9:22
  mentioned
• 9:22
  something
• 9:22
  that
• 9:22
  got
• 9:23
  me
• 9:23
  thinking
• 9:23
  too.
• 9:23
  Like,
• 9:24
  how
• 9:24
  much,
• 9:24
  how
• 9:24
  much
• 9:25
  do
• 9:25
  you
• 9:25
  at
• 9:25
  Revionics
• 9:26
  and
• 9:26
  how
• 9:26
  much
• 9:26
  do
• 9:26
  you
• 9:26
  consider,
• 9:26
  like,
• 9:27
  all
• 9:27
  the
• 9:27
  other
• 9:27
  factors
• 9:28
  that
• 9:28
  go
• 9:28
  into
• 9:29
  the
• 9:29
  final
• 9:29
  price,
• 9:30
  like
• 9:30
  the
• 9:30
  shipping
• 9:31
  costs,
• 9:32
  the.
• 9:32
  The
• 9:33
  assembly
• 9:33
  fees.
• 9:34
  Like
• 9:34
  that
• 9:34
  is
• 9:35
  an
• 9:35
  interesting
• 9:35
  dynamic
• 9:36
  depending
• 9:36
  on,
• 9:36
  you
• 9:36
  know,
• 9:36
  which
• 9:37
  vertical
• 9:37
  you're
• 9:37
  talking
• 9:37
  about
• 9:38
  as
• 9:38
  well.
• 9:39
  Yeah,
• 9:39
  I
• 9:39
  mean,
• 9:39
  the
• 9:40
  one
• 9:40
  thing
• 9:40
  that's
• 9:40
  true
• 9:40
  about
• 9:41
  retail
• 9:41
  is
• 9:41
  every
• 9:41
  vertical
• 9:42
  has
• 9:42
  unique
• 9:42
  challenges.
• 9:43
  They
• 9:43
  have
• 9:43
  different
• 9:43
  mix
• 9:44
  of
• 9:44
  base,
• 9:44
  promo
• 9:44
  and
• 9:45
  market.
• 9:45
  Even
• 9:45
  within
• 9:45
  a
• 9:46
  vertical,
• 9:46
  you
• 9:46
  low
• 9:47
  versus
• 9:47
  your
• 9:47
  EDLP
• 9:48
  retailers.
• 9:49
  And,
• 9:50
  you
• 9:50
  know,
• 9:50
  it
• 9:50
  really
• 9:51
  comes
• 9:51
  down
• 9:52
  to,
• 9:52
  you
• 9:52
  know,
• 9:52
  the
• 9:52
  more
• 9:53
  data
• 9:53
  you
• 9:53
  have,
• 9:53
  the
• 9:54
  better
• 9:54
  informed
• 9:54
  decisions
• 9:55
  you
• 9:55
  can
• 9:55
  make.
• 9:55
  So
• 9:56
  we
• 9:56
  meet
• 9:56
  a
• 9:56
  retailer
• 9:57
  where
• 9:57
  they're
• 9:57
  at
• 9:57
  in
• 9:57
  their
• 9:58
  journey.
• 9:58
  But
• 9:58
  the
• 9:59
  reality
• 9:59
  is,
• 9:59
  is,
• 10:00
  you
• 10:00
  know,
• 10:00
  you
• 10:01
  want
• 10:01
  to
• 10:01
  make
• 10:01
  data,
• 10:02
  informed
• 10:02
  decisions
• 10:03
  and,
• 10:04
  you
• 10:04
  know,
• 10:04
  if
• 10:04
  you
• 10:04
  have
• 10:04
  that
• 10:05
  information,
• 10:05
  you
• 10:05
  can
• 10:06
  use
• 10:06
  that
• 10:06
  information
• 10:07
  to
• 10:07
  do
• 10:07
  a
• 10:07
  lot
• 10:07
  of
• 10:08
  things.
• 10:08
  So
• 10:08
  some
• 10:08
  of
• 10:08
  the
• 10:09
  things
• 10:09
  we're
• 10:09
  talking
• 10:09
  about
• 10:09
  here
• 10:09
  are
• 10:09
  things
• 10:10
  like
• 10:10
  pricing
• 10:10
  architecture.
• 10:11
  Right.
• 10:11
  So
• 10:12
  just
• 10:12
  making
• 10:12
  sure
• 10:12
  simple
• 10:13
  things
• 10:13
  like
• 10:13
  strawberry
• 10:13
  yogurt
• 10:14
  is
• 10:14
  price
• 10:14
  same
• 10:15
  as
• 10:15
  a
• 10:15
  blueberry
• 10:15
  yogurt.
• 10:16
  Right.
• 10:16
  Seems
• 10:16
  simple,
• 10:17
  but
• 10:17
  without,
• 10:17
  you
• 10:18
  know,
• 10:18
  a
• 10:18
  system
• 10:18
  and
• 10:19
  a
• 10:19
  structure
• 10:19
  that,
• 10:19
  that
• 10:20
  can
• 10:20
  sometimes
• 10:20
  break.
• 10:20
  Or
• 10:21
  making
• 10:21
  sure
• 10:21
  you
• 10:21
  get
• 10:22
  a
• 10:22
  better
• 10:22
  deal
• 10:22
  on
• 10:22
  a,
• 10:23
  you
• 10:23
  know,
• 10:23
  never
• 10:23
  thought
• 10:23
  about
• 10:23
  that
• 10:24
  pack
• 10:24
  than
• 10:24
  a
• 10:24
  six
• 10:25
  pack.
• 10:25
  Right,
• 10:26
  right.
• 10:26
  You
• 10:26
  know,
• 10:27
  I
• 10:27
  want
• 10:27
  to
• 10:27
  get
• 10:27
  a
• 10:27
  better
• 10:28
  bar
• 10:28
  or
• 10:29
  per,
• 10:29
  you
• 10:29
  know,
• 10:30
  whatever
• 10:30
  per
• 10:30
  ounce.
• 10:31
  Right.
• 10:31
  So
• 10:32
  there's
• 10:32
  some
• 10:32
  simple
• 10:32
  rules,
• 10:33
  but
• 10:33
  then
• 10:33
  you
• 10:33
  get
• 10:33
  into
• 10:34
  some
• 10:34
  of
• 10:34
  those
• 10:34
  more
• 10:35
  interesting
• 10:35
  complex
• 10:36
  guardrails.
• 10:36
  Like,
• 10:37
  hey,
• 10:37
  I
• 10:37
  just,
• 10:37
  you
• 10:37
  know,
• 10:38
  got
• 10:38
  a
• 10:38
  price
• 10:39
  increase
• 10:39
  on
• 10:39
  a
• 10:39
  product
• 10:40
  that
• 10:40
  I
• 10:40
  took
• 10:40
  a
• 10:40
  price
• 10:41
  increase
• 10:41
  on
• 10:41
  or
• 10:41
  a
• 10:41
  price,
• 10:42
  you
• 10:42
  know,
• 10:42
  I'm
• 10:42
  thinking
• 10:42
  of
• 10:42
  doing
• 10:43
  a
• 10:43
  price
• 10:43
  increase,
• 10:43
  but
• 10:44
  I
• 10:44
  already
• 10:44
  did
• 10:44
  in
• 10:44
  the
• 10:45
  past
• 10:45
  three
• 10:45
  months,
• 10:46
  so
• 10:46
  maybe
• 10:46
  I
• 10:46
  don't
• 10:46
  want
• 10:46
  to
• 10:46
  do
• 10:47
  that.
• 10:47
  Two
• 10:48
  things
• 10:48
  that
• 10:48
  are
• 10:49
  more,
• 10:49
  you
• 10:49
  know,
• 10:49
  along
• 10:49
  lines
• 10:50
  of
• 10:50
  ethical
• 10:50
  pricing.
• 10:51
  Right.
• 10:51
  Like
• 10:51
  I,
• 10:51
  you
• 10:51
  know,
• 10:52
  I
• 10:52
  took
• 10:52
  the
• 10:52
  price
• 10:52
  up
• 10:53
  on
• 10:53
  men's
• 10:53
  razor
• 10:53
  blades
• 10:54
  and
• 10:54
  women's
• 10:55
  razor
• 10:55
  blades
• 10:55
  at
• 10:55
  the
• 10:56
  same
• 10:56
  time.
• 10:56
  So
• 10:56
  I'm
• 10:56
  not,
• 10:56
  you
• 10:57
  know,
• 10:57
  disenfranchising
• 10:58
  any
• 10:58
  customers.
• 10:58
  Right.
• 10:59
  So
• 10:59
  these
• 10:59
  are
• 11:00
  the
• 11:00
  things
• 11:00
  that
• 11:01
  retailers
• 11:01
  want.
• 11:01
  And
• 11:02
  then
• 11:02
  you
• 11:02
  just
• 11:02
  have
• 11:02
  tons
• 11:02
  of
• 11:03
  other
• 11:03
  things,
• 11:03
  like
• 11:03
  any
• 11:03
  number.
• 11:04
  Right.
• 11:04
  You
• 11:04
  don't
• 11:04
  want
• 11:04
  to
• 11:04
  have
• 11:04
  a
• 11:05
  price
• 11:05
  point
• 11:05
  that
• 11:05
  ends
• 11:05
  in
• 11:05
  a
• 11:06
  six
• 11:06
  or,
• 11:07
  or
• 11:07
  four.
• 11:08
  Right.
• 11:08
  So
• 11:08
  there's
• 11:08
  a
• 11:09
  lot
• 11:09
  of
• 11:09
  basic
• 11:09
  guardrails
• 11:10
  that
• 11:10
  you
• 11:11
  want
• 11:11
  to
• 11:11
  apply
• 11:11
  and
• 11:12
  rules.
• 11:12
  And
• 11:13
  the
• 11:13
  more
• 11:13
  data
• 11:13
  you
• 11:13
  send
• 11:14
  and
• 11:14
  the
• 11:14
  more
• 11:14
  you
• 11:14
  talk
• 11:14
  through
• 11:15
  your
• 11:15
  strategy
• 11:15
  and
• 11:15
  understand
• 11:16
  what's
• 11:16
  important
• 11:16
  to
• 11:16
  you,
• 11:17
  the
• 11:17
  better
• 11:17
  you
• 11:17
  can
• 11:17
  set
• 11:18
  up
• 11:18
  your
• 11:18
  pricing
• 11:18
  solution
• 11:19
  to
• 11:19
  really
• 11:20
  meet
• 11:20
  all
• 11:20
  those
• 11:20
  needs
• 11:21
  while
• 11:21
  really
• 11:21
  delighting
• 11:22
  your
• 11:22
  customer
• 11:22
  and,
• 11:23
  you
• 11:23
  know,
• 11:23
  getting
• 11:23
  the
• 11:23
  business
• 11:24
  objectives
• 11:24
  that
• 11:24
  you
• 11:25
  want
• 11:25
  to
• 11:25
  achieve.
• 11:26
  Yeah,
• 11:26
  Matt,
• 11:26
  I
• 11:26
  want
• 11:26
  to
• 11:27
  dive
• 11:27
  into
• 11:27
  that
• 11:27
  a
• 11:27
  little
• 11:27
  bit
• 11:28
  more
• 11:28
  because
• 11:28
  I
• 11:28
  think
• 11:29
  there's
• 11:30
  no
• 11:30
  doubt
• 11:30
  that
• 11:31
  especially
• 11:31
  the
• 11:32
  grocery
• 11:32
  retailers
• 11:33
  that
• 11:33
  are
• 11:33
  listening
• 11:34
  right
• 11:34
  now
• 11:34
  that
• 11:34
  are
• 11:34
  joining
• 11:35
  us
• 11:35
  are
• 11:36
  thinking
• 11:36
  about
• 11:36
  that.
• 11:37
  But
• 11:37
  as
• 11:38
  you
• 11:38
  mentioned,
• 11:38
  this
• 11:38
  is
• 11:38
  a
• 11:39
  low
• 11:39
  margin
• 11:39
  industry.
• 11:40
  It's
• 11:41
  difficult
• 11:41
  to
• 11:42
  take
• 11:42
  this
• 11:43
  investment
• 11:43
  in
• 11:44
  this.
• 11:44
  Like,
• 11:44
  yes,
• 11:45
  we
• 11:45
  want
• 11:45
  to
• 11:45
  do
• 11:45
  it,
• 11:45
  but
• 11:46
  do
• 11:46
  we
• 11:46
  have
• 11:46
  the
• 11:46
  cash
• 11:47
  to
• 11:47
  support
• 11:48
  making
• 11:48
  an
• 11:48
  investment
• 11:48
  in
• 11:49
  pricing
• 11:49
  optimization
• 11:50
  technology?
• 11:50
  So
• 11:51
  I'm
• 11:51
  wondering
• 11:51
  if
• 11:51
  you
• 11:51
  can
• 11:52
  just
• 11:52
  dive
• 11:52
  into
• 11:53
  a
• 11:53
  little
• 11:54
  bit
• 11:54
  on
• 11:54
  like
• 11:54
  how
• 11:55
  some
• 11:55
  of
• 11:55
  your
• 11:55
  customers
• 11:56
  or
• 11:56
  some
• 11:56
  of
• 11:56
  the
• 11:57
  retailers
• 11:57
  that
• 11:57
  you've
• 11:57
  worked
• 11:57
  with
• 11:58
  have
• 11:58
  seen
• 11:58
  kind
• 11:58
  of
• 11:58
  this
• 11:59
  return
• 11:59
  on
• 11:59
  investment
• 12:00
  and
• 12:00
  not
• 12:00
  just
• 12:01
  for
• 12:01
  the
• 12:01
  bottom
• 12:01
  line,
• 12:01
  but
• 12:02
  I
• 12:02
  also
• 12:02
  think
• 12:02
  there's
• 12:03
  a
• 12:03
  really
• 12:03
  key
• 12:03
  component
• 12:04
  here
• 12:04
  to
• 12:04
  the
• 12:05
  customer
• 12:05
  experience
• 12:06
  that
• 12:06
  I
• 12:06
  want
• 12:07
  to
• 12:07
  make
• 12:07
  that
• 12:07
  we
• 12:08
  really
• 12:08
  dive
• 12:08
  into
• 12:09
  as
• 12:09
  well.
• 12:10
  Yeah,
• 12:11
  no,
• 12:11
  really
• 12:11
  great
• 12:12
  question.
• 12:12
  So,
• 12:13
  first
• 12:13
  of
• 12:13
  all,
• 12:14
  you
• 12:14
  know,
• 12:14
  at
• 12:15
  the
• 12:15
  end
• 12:15
  of
• 12:15
  the
• 12:15
  day,
• 12:15
  if
• 12:15
  you
• 12:15
  really
• 12:16
  think
• 12:16
  about
• 12:16
  retail,
• 12:16
  there's
• 12:17
  multiple
• 12:17
  levers
• 12:17
  you
• 12:18
  can
• 12:18
  pull,
• 12:18
  but
• 12:19
  a
• 12:19
  lot
• 12:19
  of
• 12:19
  them
• 12:20
  take
• 12:20
  time.
• 12:20
  You
• 12:20
  can't
• 12:20
  change
• 12:21
  your
• 12:21
  supply
• 12:21
  chain
• 12:21
  overnight,
• 12:22
  you
• 12:22
  can't
• 12:22
  rebuild
• 12:22
  your
• 12:22
  assortment
• 12:23
  overnight.
• 12:23
  You
• 12:23
  can't
• 12:24
  build
• 12:24
  1500
• 12:25
  new
• 12:25
  locations
• 12:26
  overnight.
• 12:26
  Though
• 12:26
  some
• 12:26
  retailers
• 12:27
  are
• 12:27
  pretty
• 12:28
  good
• 12:28
  at
• 12:28
  building
• 12:28
  a
• 12:29
  lot
• 12:29
  of
• 12:29
  locations
• 12:29
  fast.
• 12:30
  Right?
• 12:31
  But
• 12:31
  one
• 12:31
  thing
• 12:32
  you
• 12:32
  can
• 12:32
  do
• 12:33
  really
• 12:33
  quickly,
• 12:33
  the
• 12:34
  fastest
• 12:34
  lever
• 12:34
  you
• 12:34
  can
• 12:35
  pull
• 12:35
  is
• 12:36
  pricing.
• 12:36
  And
• 12:36
  pricing
• 12:37
  impacts
• 12:37
  so
• 12:37
  much,
• 12:38
  impacts
• 12:38
  margin
• 12:39
  units,
• 12:40
  volume,
• 12:40
  price
• 12:41
  perception,
• 12:41
  brand
• 12:41
  perception,
• 12:42
  your
• 12:42
  competitive
• 12:43
  position,
• 12:44
  your
• 12:44
  private
• 12:45
  label
• 12:45
  relationship
• 12:46
  with
• 12:46
  national
• 12:46
  brand
• 12:46
  products,
• 12:47
  or
• 12:47
  your
• 12:47
  private
• 12:47
  label
• 12:48
  strategy,
• 12:48
  your
• 12:49
  inventory
• 12:50
  situation.
• 12:50
  You
• 12:50
  have
• 12:50
  too
• 12:51
  much
• 12:51
  inventory,
• 12:51
  you
• 12:51
  take
• 12:52
  prices
• 12:52
  down,
• 12:52
  you
• 12:52
  can
• 12:52
  move
• 12:53
  through
• 12:53
  it.
• 12:53
  Right?
• 12:54
  So
• 12:54
  pricing
• 12:54
  is
• 12:54
  critical.
• 12:55
  And
• 12:55
  I
• 12:56
  think
• 12:56
  we
• 12:56
  know
• 12:56
  over
• 12:57
  the
• 12:57
  past
• 12:57
  four
• 12:57
  years,
• 12:57
  looking
• 12:58
  at
• 12:58
  survey
• 12:58
  after
• 12:58
  survey
• 12:59
  after
• 12:59
  survey,
• 13:00
  consumers
• 13:00
  care
• 13:01
  about
• 13:01
  pricing.
• 13:01
  Pricing
• 13:02
  is
• 13:02
  a
• 13:02
  top
• 13:02
  concern
• 13:03
  for
• 13:03
  consumers.
• 13:04
  So
• 13:04
  first
• 13:04
  of
• 13:04
  all,
• 13:05
  if
• 13:05
  it's
• 13:05
  the
• 13:05
  most
• 13:05
  important
• 13:06
  thing
• 13:06
  to
• 13:06
  your
• 13:06
  consumers,
• 13:07
  it's
• 13:07
  worth
• 13:08
  investing
• 13:08
  in.
• 13:09
  Second
• 13:09
  of
• 13:09
  all,
• 13:10
  the
• 13:10
  beauty
• 13:10
  of
• 13:10
  pricing
• 13:11
  is
• 13:11
  it's
• 13:12
  quantitative.
• 13:12
  So
• 13:13
  not
• 13:13
  only
• 13:13
  is
• 13:13
  there
• 13:14
  an
• 13:14
  easier
• 13:15
  way
• 13:15
  to
• 13:15
  calculate
• 13:16
  the
• 13:16
  ROI
• 13:16
  of
• 13:16
  investing
• 13:17
  in
• 13:17
  your
• 13:17
  pricing
• 13:18
  strategy,
• 13:18
  but
• 13:18
  it's
• 13:19
  a
• 13:19
  proven
• 13:19
  investment.
• 13:20
  It's
• 13:20
  been
• 13:20
  a
• 13:20
  proven
• 13:21
  investment
• 13:21
  now
• 13:21
  for
• 13:21
  over
• 13:22
  20
• 13:22
  years.
• 13:22
  In
• 13:22
  fact,
• 13:22
  Gartner
• 13:23
  came
• 13:24
  out
• 13:24
  with
• 13:24
  a
• 13:24
  study.
• 13:24
  AI
• 13:25
  is
• 13:25
  all
• 13:25
  the
• 13:25
  rage.
• 13:25
  Everyone
• 13:26
  likes
• 13:26
  to
• 13:26
  talk
• 13:26
  about
• 13:26
  AI.
• 13:27
  I'm
• 13:27
  going
• 13:27
  to
• 13:27
  talk
• 13:27
  a
• 13:27
  lot
• 13:27
  about
• 13:28
  AI,
• 13:28
  hopefully
• 13:28
  later,
• 13:29
  because
• 13:30
  we
• 13:30
  love
• 13:30
  AI.
• 13:31
  But
• 13:31
  they
• 13:31
  looked
• 13:32
  at
• 13:32
  over
• 13:32
  20
• 13:32
  use
• 13:33
  cases
• 13:33
  for
• 13:33
  AI
• 13:34
  in
• 13:34
  retail,
• 13:35
  and
• 13:35
  at
• 13:35
  the
• 13:35
  end
• 13:35
  of
• 13:35
  the
• 13:35
  day,
• 13:36
  said
• 13:36
  pricing
• 13:37
  promo
• 13:37
  and
• 13:37
  markdown
• 13:38
  optimization
• 13:38
  is
• 13:38
  the
• 13:39
  number
• 13:39
  one
• 13:39
  use
• 13:39
  case,
• 13:40
  both
• 13:40
  in
• 13:40
  feasibility
• 13:41
  and
• 13:42
  in
• 13:42
  value
• 13:42
  for
• 13:43
  retailers.
• 13:43
  It's
• 13:44
  proven,
• 13:44
  it
• 13:44
  works.
• 13:45
  We
• 13:45
  work
• 13:45
  with
• 13:45
  a
• 13:45
  lot
• 13:46
  of
• 13:46
  retailers,
• 13:46
  they
• 13:47
  invest
• 13:47
  in
• 13:47
  their
• 13:47
  pricing
• 13:48
  and
• 13:48
  then
• 13:48
  the
• 13:48
  profits
• 13:48
  and
• 13:49
  ROI
• 13:49
  that
• 13:49
  they've
• 13:49
  Generated
• 13:50
  from
• 13:50
  that,
• 13:50
  they've
• 13:50
  been
• 13:51
  been
• 13:51
  able
• 13:51
  to
• 13:51
  reinvest
• 13:52
  in
• 13:52
  other
• 13:52
  areas
• 13:52
  of
• 13:52
  their
• 13:53
  business
• 13:53
  or
• 13:53
  further
• 13:54
  expand
• 13:54
  their
• 13:54
  pricing
• 13:54
  journey.
• 13:55
  Okay,
• 13:55
  they
• 13:55
  invested
• 13:56
  in
• 13:56
  having
• 13:56
  better
• 13:57
  promotions
• 13:57
  and
• 13:57
  now
• 13:58
  they're
• 13:58
  able
• 13:58
  to
• 13:58
  invest
• 13:58
  in
• 13:58
  better
• 13:59
  markdowns
• 13:59
  or
• 14:00
  better
• 14:00
  base
• 14:00
  pricing
• 14:01
  practices
• 14:01
  and
• 14:01
  now
• 14:02
  better
• 14:02
  promotions
• 14:02
  or
• 14:03
  they're
• 14:03
  just
• 14:03
  taking
• 14:03
  that
• 14:04
  profit
• 14:04
  and
• 14:05
  they're
• 14:05
  reinvesting
• 14:06
  in
• 14:06
  their
• 14:06
  price
• 14:06
  position.
• 14:07
  So
• 14:07
  it's
• 14:07
  a
• 14:07
  virtuous
• 14:08
  cycle.
• 14:08
  Right.
• 14:09
  So
• 14:09
  there's
• 14:09
  a
• 14:09
  lot
• 14:09
  of
• 14:10
  things
• 14:10
  you
• 14:10
  can
• 14:10
  do.
• 14:10
  But
• 14:10
  one
• 14:11
  thing's
• 14:11
  for
• 14:11
  Claire,
• 14:12
  it's
• 14:13
  pricing
• 14:13
  is
• 14:14
  important
• 14:14
  to
• 14:14
  customers.
• 14:15
  It
• 14:15
  drives
• 14:16
  value,
• 14:16
  it's
• 14:16
  a
• 14:16
  high
• 14:17
  ROI
• 14:17
  investment.
• 14:18
  And
• 14:18
  retailers
• 14:19
  should
• 14:19
  be,
• 14:20
  you
• 14:20
  know,
• 14:20
  looking
• 14:21
  at
• 14:21
  their
• 14:21
  pricing
• 14:21
  capabilities
• 14:22
  now
• 14:22
  more
• 14:22
  than
• 14:23
  ever,
• 14:23
  especially
• 14:23
  with
• 14:23
  tariffs
• 14:24
  and
• 14:24
  other
• 14:24
  things
• 14:24
  on
• 14:24
  the
• 14:25
  horizon.
• 14:26
  Matt,
• 14:26
  is
• 14:26
  there
• 14:26
  any
• 14:26
  way
• 14:27
  that
• 14:27
  customers
• 14:28
  are
• 14:28
  like
• 14:28
  seeing
• 14:29
  this
• 14:29
  visibly?
• 14:30
  Like,
• 14:30
  I
• 14:30
  mean,
• 14:30
  I
• 14:31
  think
• 14:31
  back
• 14:31
  to
• 14:31
  the
• 14:31
  days
• 14:32
  where
• 14:32
  like
• 14:32
  you'd
• 14:33
  see
• 14:33
  like
• 14:33
  other
• 14:33
  retailers
• 14:34
  are
• 14:34
  charging
• 14:35
  this
• 14:35
  much,
• 14:35
  we're
• 14:35
  charging
• 14:36
  this
• 14:36
  much.
• 14:36
  I
• 14:36
  mean,
• 14:37
  how
• 14:37
  does
• 14:37
  that
• 14:38
  take
• 14:38
  shape
• 14:38
  in
• 14:39
  like
• 14:39
  from
• 14:39
  a
• 14:40
  customer
• 14:40
  view
• 14:41
  perspective?
• 14:42
  Yeah,
• 14:42
  Price
• 14:43
  perception
• 14:43
  is
• 14:43
  interesting,
• 14:44
  right,
• 14:44
  because
• 14:44
  there's
• 14:44
  a
• 14:45
  psychological
• 14:45
  element
• 14:46
  of
• 14:46
  it.
• 14:46
  So
• 14:46
  there's
• 14:47
  a,
• 14:47
  the
• 14:47
  real
• 14:48
  time
• 14:48
  truth.
• 14:48
  You
• 14:48
  can
• 14:49
  go
• 14:49
  on
• 14:49
  two
• 14:49
  browsers
• 14:50
  and
• 14:50
  see
• 14:50
  price
• 14:50
  A
• 14:51
  versus
• 14:51
  price
• 14:51
  B.
• 14:51
  And
• 14:52
  in
• 14:52
  real
• 14:52
  time,
• 14:52
  this,
• 14:53
  this
• 14:53
  one
• 14:53
  has
• 14:53
  a
• 14:53
  better
• 14:54
  price.
• 14:54
  But
• 14:54
  for
• 14:54
  true
• 14:55
  price
• 14:55
  perception
• 14:56
  as
• 14:56
  set
• 14:56
  in,
• 14:56
  it's,
• 14:57
  it's
• 14:57
  those
• 14:58
  thousands
• 14:58
  of
• 14:58
  little
• 14:59
  things,
• 14:59
  those
• 14:59
  kind
• 14:59
  of
• 14:59
  Gladwellian
• 15:00
  sort
• 15:00
  of,
• 15:01
  you
• 15:01
  know,
• 15:01
  like,
• 15:01
  I'm
• 15:02
  experiencing
• 15:02
  this
• 15:03
  now.
• 15:03
  I'm
• 15:03
  experiencing
• 15:04
  this.
• 15:04
  There's
• 15:04
  all
• 15:05
  those
• 15:05
  heuristics.
• 15:06
  So
• 15:06
  to
• 15:06
  really
• 15:07
  have
• 15:07
  a
• 15:07
  great
• 15:07
  pricing
• 15:08
  strategy,
• 15:08
  it's
• 15:08
  not
• 15:09
  about
• 15:09
  the
• 15:09
  one
• 15:10
  and
• 15:10
  done.
• 15:10
  It's
• 15:10
  not
• 15:10
  even
• 15:11
  about
• 15:11
  necessarily,
• 15:12
  you
• 15:12
  know,
• 15:13
  just
• 15:13
  having
• 15:13
  lower
• 15:13
  prices
• 15:14
  on
• 15:14
  everything.
• 15:14
  Right.
• 15:15
  It's
• 15:15
  about
• 15:15
  using
• 15:15
  the
• 15:16
  analytics
• 15:16
  to
• 15:16
  say
• 15:17
  these
• 15:17
  are
• 15:17
  the
• 15:17
  products
• 15:17
  that
• 15:18
  matter
• 15:18
  most
• 15:18
  to
• 15:19
  customers
• 15:19
  based
• 15:20
  on
• 15:20
  what
• 15:20
  the
• 15:20
  data
• 15:21
  is
• 15:21
  saying
• 15:21
  and
• 15:21
  what
• 15:21
  they're
• 15:21
  actually
• 15:22
  choosing
• 15:22
  with
• 15:23
  their
• 15:23
  purchase
• 15:23
  behavior.
• 15:24
  So
• 15:24
  a
• 15:24
  good
• 15:24
  example,
• 15:25
  right,
• 15:25
  is
• 15:25
  you
• 15:26
  know,
• 15:26
  regional
• 15:26
  pricing.
• 15:27
  Let's
• 15:27
  say
• 15:27
  you're
• 15:27
  a
• 15:27
  national
• 15:28
  grocer,
• 15:29
  right?
• 15:29
  Yeah,
• 15:30
  yeah.
• 15:30
  You
• 15:30
  know,
• 15:30
  you
• 15:31
  have
• 15:31
  some
• 15:31
  products
• 15:32
  like
• 15:32
  Goya
• 15:32
  Black
• 15:33
  Beans
• 15:33
  in
• 15:33
  Miami
• 15:34
  are
• 15:34
  going
• 15:34
  to
• 15:34
  be
• 15:34
  a
• 15:34
  price
• 15:34
  perception
• 15:35
  driver.
• 15:35
  You
• 15:35
  have
• 15:36
  to
• 15:36
  have
• 15:36
  a
• 15:36
  good
• 15:36
  price
• 15:36
  on
• 15:37
  that
• 15:37
  product
• 15:37
  there,
• 15:38
  but
• 15:38
  maybe
• 15:38
  not
• 15:38
  in
• 15:38
  other
• 15:39
  markets.
• 15:39
  Right.
• 15:40
  So,
• 15:40
  so
• 15:41
  it's
• 15:41
  important
• 15:41
  to
• 15:41
  not
• 15:42
  just
• 15:42
  have
• 15:42
  good
• 15:42
  prices,
• 15:43
  but
• 15:44
  it's
• 15:44
  important
• 15:44
  to
• 15:44
  have
• 15:44
  good
• 15:45
  prices
• 15:45
  on
• 15:45
  the
• 15:45
  items
• 15:46
  that
• 15:46
  matter
• 15:46
  the
• 15:46
  most
• 15:47
  and
• 15:47
  really
• 15:47
  build
• 15:47
  that
• 15:48
  price
• 15:48
  perception
• 15:48
  over
• 15:49
  time.
• 15:49
  And
• 15:50
  we've
• 15:50
  seen
• 15:50
  fantastic
• 15:51
  results
• 15:51
  from
• 15:52
  customers
• 15:53
  who
• 15:53
  have
• 15:53
  really
• 15:53
  invested
• 15:54
  in
• 15:54
  their
• 15:54
  price
• 15:54
  perception
• 15:55
  over
• 15:55
  the
• 15:55
  past
• 15:55
  year.
• 15:56
  In
• 15:56
  fact,
• 15:57
  during
• 15:57
  peak
• 15:57
  inflation
• 15:58
  in
• 15:58
  2022,
• 15:59
  when
• 16:00
  retail
• 16:00
  was
• 16:00
  growing,
• 16:01
  you
• 16:01
  know,
• 16:01
  around
• 16:01
  like
• 16:01
  7%,
• 16:02
  you
• 16:02
  know,
• 16:02
  Walmart
• 16:03
  was
• 16:03
  about
• 16:04
  7%
• 16:04
  Amazon,
• 16:04
  7%
• 16:05
  NRF
• 16:06
  estimates
• 16:07
  around
• 16:07
  there
• 16:07
  too.
• 16:08
  Like
• 16:08
  our,
• 16:08
  our
• 16:09
  customers
• 16:09
  who
• 16:09
  were
• 16:10
  using
• 16:10
  optimization
• 16:11
  to
• 16:11
  enhance
• 16:12
  their
• 16:12
  price
• 16:12
  perception,
• 16:13
  they
• 16:13
  were
• 16:13
  growing
• 16:13
  around
• 16:14
  10%
• 16:14
  and
• 16:15
  doing
• 16:15
  that
• 16:15
  at
• 16:15
  a
• 16:15
  higher
• 16:15
  profit.
• 16:16
  And
• 16:16
  as
• 16:16
  we
• 16:17
  know,
• 16:17
  2020
• 16:17
  wasn't
• 16:18
  a
• 16:18
  great
• 16:18
  year
• 16:18
  for
• 16:18
  profits
• 16:19
  for
• 16:19
  a
• 16:19
  lot
• 16:19
  of
• 16:19
  retailers.
• 16:20
  So
• 16:21
  it's,
• 16:22
  it's
• 16:22
  proven,
• 16:22
  it
• 16:23
  works.
• 16:23
  But
• 16:23
  ultimately
• 16:24
  it
• 16:25
  has
• 16:25
  to
• 16:25
  be
• 16:25
  about
• 16:25
  your
• 16:26
  consumers.
• 16:26
  You
• 16:26
  have
• 16:26
  to
• 16:27
  have
• 16:27
  the
• 16:27
  right
• 16:27
  price
• 16:27
  promotions
• 16:28
  on
• 16:28
  the
• 16:28
  products
• 16:29
  they
• 16:29
  care
• 16:29
  most
• 16:29
  about,
• 16:29
  the
• 16:30
  markets
• 16:30
  and
• 16:30
  channels
• 16:30
  they
• 16:31
  care
• 16:31
  most
• 16:31
  about.
• 16:32
  Well,
• 16:32
  and
• 16:32
  I
• 16:32
  imagine
• 16:33
  that
• 16:33
  this
• 16:33
  is
• 16:33
  getting
• 16:33
  even
• 16:34
  more
• 16:34
  complex.
• 16:34
  Like
• 16:35
  I'm
• 16:35
  thinking
• 16:35
  about
• 16:35
  when
• 16:36
  these
• 16:36
  products
• 16:36
  are
• 16:36
  taking
• 16:37
  off
• 16:37
  on
• 16:37
  like
• 16:37
  TikTok
• 16:38
  or
• 16:38
  on
• 16:39
  social
• 16:39
  media
• 16:39
  or
• 16:39
  something
• 16:40
  like,
• 16:40
  you
• 16:40
  know,
• 16:41
  you,
• 16:41
  that's
• 16:41
  something
• 16:42
  that
• 16:42
  you're
• 16:42
  gonna
• 16:42
  suddenly
• 16:42
  get
• 16:43
  a
• 16:43
  flood
• 16:43
  of
• 16:43
  traffic
• 16:44
  with
• 16:44
  and
• 16:44
  if
• 16:44
  you
• 16:44
  don't
• 16:45
  have
• 16:45
  something
• 16:45
  set
• 16:46
  up
• 16:46
  to
• 16:46
  quickly
• 16:47
  respond,
• 16:47
  respond
• 16:47
  to
• 16:47
  that
• 16:48
  pricing.
• 16:48
  Like
• 16:48
  price
• 16:49
  perception
• 16:49
  isn't
• 16:49
  just
• 16:50
  like
• 16:50
  what's
• 16:50
  in
• 16:50
  the
• 16:50
  circular
• 16:51
  every
• 16:51
  week,
• 16:51
  it's
• 16:52
  now
• 16:52
  like
• 16:52
  what
• 16:53
  are
• 16:53
  you,
• 16:53
  what
• 16:53
  is
• 16:53
  your
• 16:53
  price
• 16:54
  on,
• 16:54
  you
• 16:55
  know,
• 16:55
  the
• 16:55
  black
• 16:55
  beans
• 16:56
  or
• 16:56
  the
• 16:56
  cool
• 16:57
  new
• 16:57
  freeze
• 16:57
  dried
• 16:57
  candy
• 16:58
  or
• 16:58
  something
• 16:58
  like
• 16:59
  in
• 16:59
  that
• 16:59
  moment
• 17:00
  right
• 17:00
  then
• 17:00
  and
• 17:00
  there
• 17:01
  when
• 17:01
  people
• 17:01
  are
• 17:01
  going
• 17:01
  to
• 17:01
  start
• 17:01
  flooding
• 17:02
  the
• 17:02
  stores.
• 17:02
  Right?
• 17:03
  Yeah,
• 17:03
  no,
• 17:03
  it's
• 17:04
  moving
• 17:04
  faster
• 17:04
  than
• 17:05
  ever.
• 17:05
  In
• 17:05
  fact,
• 17:05
  if
• 17:05
  you
• 17:06
  look
• 17:06
  at
• 17:06
  different
• 17:06
  studies
• 17:07
  on
• 17:07
  how
• 17:07
  different
• 17:07
  generations
• 17:08
  like
• 17:08
  even
• 17:09
  build
• 17:09
  their
• 17:09
  meal
• 17:09
  plans
• 17:10
  and
• 17:10
  their
• 17:10
  recipe
• 17:10
  Ideas,
• 17:11
  you'll
• 17:11
  notice
• 17:12
  TikTok
• 17:12
  is
• 17:12
  actually
• 17:13
  a
• 17:13
  major
• 17:13
  influencer
• 17:14
  for
• 17:15
  building
• 17:15
  a
• 17:15
  meal
• 17:15
  plan.
• 17:15
  Right.
• 17:16
  I'm,
• 17:16
  I'm
• 17:16
  kind
• 17:16
  of
• 17:17
  an
• 17:17
  old
• 17:17
  dude,
• 17:17
  I'm
• 17:17
  Gen
• 17:17
  X.
• 17:18
  Right.
• 17:18
  Like,
• 17:18
  I
• 17:18
  don't
• 17:18
  get
• 17:19
  recipes
• 17:19
  off
• 17:19
  of
• 17:19
  TikTok.
• 17:20
  Right.
• 17:20
  But,
• 17:20
  but
• 17:21
  like
• 17:21
  younger
• 17:21
  generations
• 17:22
  are,
• 17:22
  and
• 17:22
  Gen
• 17:23
  Z
• 17:23
  is
• 17:23
  growing,
• 17:23
  they're
• 17:24
  exploding.
• 17:24
  Right.
• 17:25
  So
• 17:25
  you
• 17:25
  do
• 17:25
  get
• 17:26
  these
• 17:26
  trends.
• 17:26
  So
• 17:26
  you
• 17:27
  need
• 17:27
  to
• 17:27
  have
• 17:27
  scientific
• 17:28
  models
• 17:29
  that
• 17:29
  can
• 17:29
  really
• 17:30
  understand,
• 17:31
  you
• 17:31
  know,
• 17:31
  what
• 17:31
  is
• 17:32
  causing
• 17:32
  the
• 17:32
  trend.
• 17:32
  Why
• 17:33
  is
• 17:33
  this
• 17:33
  thing
• 17:33
  growing?
• 17:34
  Why
• 17:34
  is
• 17:34
  it
• 17:34
  not
• 17:34
  growing?
• 17:35
  What
• 17:35
  should
• 17:35
  we
• 17:35
  do,
• 17:36
  how
• 17:36
  do
• 17:36
  we
• 17:36
  react?
• 17:37
  But
• 17:37
  also
• 17:37
  you
• 17:37
  need
• 17:38
  to
• 17:38
  have
• 17:38
  the
• 17:38
  processes
• 17:39
  and
• 17:39
  the
• 17:39
  technologies
• 17:40
  in
• 17:40
  place
• 17:40
  to
• 17:41
  execute
• 17:41
  those
• 17:42
  pricing
• 17:42
  strategies
• 17:43
  or
• 17:43
  make
• 17:44
  changes
• 17:44
  in
• 17:44
  real
• 17:45
  time.
• 17:45
  It's
• 17:45
  happening
• 17:46
  every
• 17:46
  day.
• 17:46
  Kind
• 17:47
  of
• 17:47
  a
• 17:47
  fun
• 17:47
  story.
• 17:47
  My
• 17:48
  son
• 17:48
  also
• 17:48
  works
• 17:49
  at
• 17:49
  Target.
• 17:49
  He's
• 17:50
  frontline
• 17:50
  trenches.
• 17:51
  He's
• 17:51
  you
• 17:51
  know,
• 17:51
  working,
• 17:52
  stocking
• 17:52
  grocery
• 17:53
  shelves
• 17:53
  and
• 17:54
  you
• 17:54
  know,
• 17:54
  one
• 17:54
  day
• 17:54
  not
• 17:54
  too
• 17:55
  long
• 17:55
  ago
• 17:55
  somebody
• 17:56
  came
• 17:56
  in
• 17:56
  and
• 17:56
  asked
• 17:57
  about
• 17:57
  Stanley
• 17:57
  Cups
• 17:58
  and
• 17:58
  where
• 17:58
  could
• 17:58
  they
• 17:58
  find
• 17:59
  Stanley
• 17:59
  Cups?
• 17:59
  And
• 18:00
  we
• 18:00
  live
• 18:00
  in
• 18:00
  Texas
• 18:01
  and
• 18:01
  like
• 18:01
  we
• 18:01
  grew
• 18:01
  up
• 18:02
  in
• 18:02
  Michigan
• 18:02
  so
• 18:03
  you
• 18:03
  know,
• 18:03
  we
• 18:03
  think
• 18:03
  NHL
• 18:04
  immediately.
• 18:05
  So
• 18:05
  he
• 18:05
  was
• 18:06
  confused.
• 18:06
  He's
• 18:06
  like,
• 18:06
  what's
• 18:07
  going
• 18:07
  on?
• 18:07
  Why
• 18:07
  do
• 18:07
  people
• 18:08
  in
• 18:08
  Texas
• 18:08
  suddenly
• 18:08
  care
• 18:08
  so
• 18:09
  much
• 18:09
  about
• 18:09
  hockey?
• 18:10
  So
• 18:11
  it's,
• 18:11
  it's
• 18:11
  interesting
• 18:12
  how
• 18:12
  these
• 18:12
  trends
• 18:12
  can
• 18:12
  just
• 18:13
  happen
• 18:13
  so
• 18:13
  fast
• 18:15
  and
• 18:15
  you
• 18:15
  just
• 18:16
  have
• 18:16
  to
• 18:16
  have
• 18:17
  the
• 18:17
  model,
• 18:17
  the
• 18:18
  technology,
• 18:18
  the
• 18:18
  processes,
• 18:19
  the
• 18:19
  people,
• 18:20
  and
• 18:20
  a
• 18:20
  strategy
• 18:21
  that's
• 18:21
  really
• 18:21
  willing
• 18:22
  to
• 18:22
  react
• 18:22
  in
• 18:22
  real
• 18:22
  time.
• 18:23
  We
• 18:23
  have
• 18:23
  some
• 18:23
  retailers
• 18:24
  who
• 18:24
  can
• 18:24
  take
• 18:25
  their
• 18:25
  prices
• 18:25
  down
• 18:25
  to
• 18:25
  match
• 18:26
  competitors
• 18:26
  within
• 18:27
  15
• 18:27
  minutes.
• 18:28
  So,
• 18:29
  like,
• 18:29
  there's
• 18:29
  a
• 18:29
  lot
• 18:29
  of
• 18:30
  different
• 18:30
  things,
• 18:30
  but
• 18:31
  the
• 18:31
  faster
• 18:31
  and
• 18:32
  smarter
• 18:32
  you
• 18:33
  can
• 18:33
  move,
• 18:33
  the
• 18:33
  better
• 18:34
  you
• 18:34
  can
• 18:34
  position
• 18:34
  yourself
• 18:35
  to
• 18:35
  have
• 18:35
  a
• 18:35
  really
• 18:35
  good
• 18:36
  price
• 18:36
  in
• 18:36
  the
• 18:36
  market
• 18:36
  on
• 18:36
  the
• 18:36
  items
• 18:37
  that
• 18:37
  consumers
• 18:37
  care
• 18:38
  most
• 18:38
  about.
• 18:39
  Wow,
• 18:40
  Matt,
• 18:40
  to
• 18:40
  hear
• 18:40
  you're
• 18:40
  a
• 18:40
  Gen
• 18:40
  Xer.
• 18:41
  As
• 18:41
  a
• 18:41
  fellow
• 18:41
  Gen
• 18:42
  Xer,
• 18:42
  man,
• 18:42
  I
• 18:42
  wish
• 18:42
  I
• 18:42
  looked
• 18:43
  as
• 18:43
  good
• 18:43
  and
• 18:43
  as
• 18:43
  young
• 18:43
  as
• 18:43
  you
• 18:44
  do
• 18:44
  right
• 18:44
  now.
• 18:44
  Man,
• 18:45
  you're
• 18:45
  making
• 18:45
  me
• 18:45
  feel
• 18:45
  jeal.
• 18:46
  But
• 18:46
  the
• 18:46
  other
• 18:46
  thing
• 18:47
  I
• 18:47
  want
• 18:47
  to.
• 18:47
  Just
• 18:47
  call
• 18:47
  out
• 18:47
  too,
• 18:48
  like,
• 18:48
  this
• 18:48
  is
• 18:49
  why
• 18:49
  I
• 18:49
  love
• 18:49
  doing
• 18:49
  this
• 18:49
  show,
• 18:50
  because
• 18:50
  you
• 18:50
  gave,
• 18:51
  you
• 18:51
  gave
• 18:52
  me
• 18:52
  and
• 18:52
  all
• 18:53
  of
• 18:53
  us
• 18:53
  watching
• 18:54
  a
• 18:54
  new
• 18:54
  way
• 18:54
  to
• 18:54
  think
• 18:55
  about
• 18:55
  pricing.
• 18:55
  Like,
• 18:56
  I
• 18:56
  love
• 18:56
  how
• 18:56
  you
• 18:56
  said,
• 18:56
  because
• 18:57
  I've
• 18:57
  never
• 18:57
  thought
• 18:57
  about
• 18:57
  it
• 18:57
  before.
• 18:57
  Like,
• 18:58
  pricing
• 18:58
  is
• 18:59
  the
• 18:59
  quickest
• 18:59
  lever
• 19:00
  that
• 19:00
  you
• 19:00
  can
• 19:00
  turn
• 19:01
  and
• 19:01
  also
• 19:01
  the
• 19:01
  lever
• 19:02
  that
• 19:02
  your
• 19:02
  customers
• 19:03
  care
• 19:03
  the
• 19:03
  most
• 19:04
  about.
• 19:04
  And
• 19:04
  so
• 19:05
  when
• 19:05
  you
• 19:05
  put
• 19:05
  it
• 19:05
  in
• 19:05
  that
• 19:05
  context,
• 19:06
  it
• 19:07
  is
• 19:07
  a
• 19:07
  really
• 19:07
  interesting
• 19:08
  context
• 19:08
  shift
• 19:08
  for
• 19:09
  retailers
• 19:09
  when
• 19:09
  they
• 19:09
  think
• 19:09
  about
• 19:10
  where
• 19:10
  to
• 19:10
  invest
• 19:10
  their
• 19:11
  money.
• 19:11
  All
• 19:12
  right,
• 19:12
  so
• 19:12
  with
• 19:12
  that
• 19:12
  said,
• 19:12
  I
• 19:13
  want
• 19:13
  to
• 19:13
  shift
• 19:13
  gears
• 19:13
  a
• 19:13
  little
• 19:13
  bit
• 19:15
  because
• 19:15
  there's
• 19:16
  been
• 19:16
  a
• 19:16
  lot
• 19:16
  of
• 19:16
  talk
• 19:16
  of
• 19:17
  AI
• 19:18
  and
• 19:18
  the
• 19:18
  things
• 19:18
  you
• 19:19
  can
• 19:19
  do
• 19:19
  with
• 19:19
  AI
• 19:19
  in
• 19:20
  regards
• 19:20
  to
• 19:20
  pricing,
• 19:21
  but
• 19:22
  there's
• 19:22
  also
• 19:22
  been
• 19:22
  some
• 19:23
  concerns
• 19:23
  in
• 19:23
  the
• 19:24
  industry
• 19:24
  about
• 19:25
  how
• 19:25
  that
• 19:25
  could
• 19:25
  potentially
• 19:26
  lead
• 19:26
  to
• 19:26
  unfair
• 19:26
  pricing
• 19:27
  practices
• 19:27
  as
• 19:28
  well.
• 19:28
  So.
• 19:28
  So
• 19:28
  how
• 19:29
  do
• 19:29
  you
• 19:29
  respond
• 19:29
  to
• 19:30
  retailers
• 19:31
  in
• 19:31
  general
• 19:31
  that,
• 19:32
  you
• 19:32
  know,
• 19:32
  present
• 19:33
  you
• 19:33
  with
• 19:33
  those
• 19:33
  concerns?
• 19:35
  Yeah,
• 19:35
  I
• 19:35
  think
• 19:36
  it's
• 19:36
  actually
• 19:36
  a
• 19:36
  really
• 19:37
  good
• 19:37
  thing
• 19:37
  to
• 19:37
  have
• 19:38
  concerns
• 19:38
  about
• 19:39
  any
• 19:39
  new
• 19:39
  technology,
• 19:40
  including
• 19:41
  AI.
• 19:41
  Right.
• 19:42
  I
• 19:43
  think
• 19:43
  it's
• 19:43
  important
• 19:44
  when
• 19:44
  you're
• 19:44
  investing
• 19:45
  in
• 19:45
  something
• 19:45
  and
• 19:46
  you're
• 19:46
  trying
• 19:46
  to
• 19:46
  figure
• 19:46
  out
• 19:47
  your
• 19:47
  vision
• 19:47
  for
• 19:47
  the
• 19:47
  future,
• 19:48
  that
• 19:48
  you're
• 19:48
  really
• 19:49
  considering
• 19:49
  all
• 19:49
  the
• 19:49
  facets
• 19:50
  of
• 19:50
  what
• 19:50
  you're
• 19:50
  investing
• 19:51
  in.
• 19:51
  Right.
• 19:52
  And
• 19:52
  AI
• 19:53
  is
• 19:53
  no
• 19:53
  exception.
• 19:54
  I
• 19:54
  mean,
• 19:54
  you
• 19:55
  know,
• 19:55
  I
• 19:55
  call
• 19:55
  out
• 19:55
  my
• 19:56
  son,
• 19:56
  I'm
• 19:56
  going
• 19:56
  to
• 19:56
  call
• 19:56
  my
• 19:56
  daughter.
• 19:57
  She's
• 19:57
  a
• 19:57
  writer
• 19:57
  in
• 19:57
  Hollywood.
• 19:58
  There's
• 19:58
  obviously
• 19:58
  concerns
• 19:59
  about
• 19:59
  Gen
• 19:59
  AI
• 19:59
  there.
• 20:00
  Right.
• 20:01
  So,
• 20:01
  you
• 20:02
  know,
• 20:02
  different
• 20:03
  industries,
• 20:03
  different
• 20:04
  things.
• 20:04
  But
• 20:05
  in
• 20:05
  retail,
• 20:06
  here's
• 20:06
  the
• 20:06
  thing
• 20:07
  I
• 20:07
  would
• 20:07
  say
• 20:07
  about
• 20:08
  AI.
• 20:09
  Right.
• 20:09
  Again,
• 20:09
  Gartner,
• 20:10
  they
• 20:10
  came
• 20:11
  out,
• 20:11
  they
• 20:11
  said,
• 20:12
  you
• 20:12
  know,
• 20:12
  it's
• 20:12
  the
• 20:12
  number
• 20:13
  one
• 20:13
  investment
• 20:13
  from
• 20:14
  a
• 20:14
  pricing
• 20:14
  perspective
• 20:15
  that
• 20:15
  you
• 20:16
  can
• 20:16
  do
• 20:16
  in
• 20:16
  AI.
• 20:16
  The
• 20:17
  other
• 20:17
  thing
• 20:17
  is,
• 20:18
  is
• 20:18
  that
• 20:19
  AI
• 20:19
  is
• 20:19
  proven.
• 20:20
  You
• 20:20
  know,
• 20:20
  AI
• 20:21
  has
• 20:21
  been
• 20:21
  used
• 20:21
  in
• 20:22
  pricing
• 20:22
  for
• 20:22
  over
• 20:22
  20
• 20:23
  years,
• 20:23
  and
• 20:23
  it's
• 20:24
  a
• 20:24
  very
• 20:24
  quantitative
• 20:25
  thing.
• 20:26
  And
• 20:27
  we
• 20:27
  at
• 20:27
  Revionics
• 20:28
  and
• 20:28
  other
• 20:29
  companies,
• 20:29
  I'm
• 20:30
  sure,
• 20:30
  who
• 20:30
  are
• 20:30
  using
• 20:30
  AI,
• 20:31
  if
• 20:31
  you're
• 20:31
  doing
• 20:32
  it
• 20:32
  right,
• 20:32
  you're
• 20:32
  setting
• 20:32
  guardrails.
• 20:33
  So
• 20:33
  I
• 20:33
  talked
• 20:33
  about
• 20:33
  some
• 20:34
  of
• 20:34
  those
• 20:34
  rules
• 20:34
  and
• 20:34
  guardrails,
• 20:35
  things
• 20:35
  like
• 20:35
  not
• 20:36
  taking
• 20:36
  prices
• 20:36
  up
• 20:36
  on,
• 20:37
  you
• 20:37
  know,
• 20:37
  women's
• 20:38
  razor
• 20:38
  blades
• 20:38
  without
• 20:38
  men's
• 20:39
  razor
• 20:39
  blades,
• 20:40
  or
• 20:40
  not
• 20:40
  taking
• 20:40
  two
• 20:41
  price
• 20:41
  increases
• 20:41
  at
• 20:41
  the
• 20:42
  same
• 20:42
  time.
• 20:42
  Right?
• 20:43
  So
• 20:43
  to
• 20:43
  build
• 20:43
  a
• 20:44
  really
• 20:44
  good
• 20:44
  pricing
• 20:44
  solution
• 20:45
  that
• 20:45
  leverages
• 20:45
  AI,
• 20:46
  you
• 20:46
  also
• 20:46
  have
• 20:46
  to
• 20:47
  build
• 20:47
  in
• 20:47
  those
• 20:47
  rules
• 20:47
  and
• 20:48
  guardrails
• 20:49
  to
• 20:49
  make
• 20:49
  sure
• 20:49
  that
• 20:50
  when
• 20:51
  AI
• 20:51
  is
• 20:51
  recommending
• 20:52
  a
• 20:52
  price,
• 20:52
  it's
• 20:53
  following
• 20:53
  your
• 20:53
  strategy.
• 20:54
  It's
• 20:54
  not
• 20:54
  recommending
• 20:54
  a
• 20:55
  price
• 20:55
  that
• 20:55
  ends
• 20:55
  at
• 20:55
  4.
• 20:56
  It's
• 20:56
  not
• 20:56
  recommending
• 20:57
  a
• 20:57
  price
• 20:58
  increase
• 20:58
  of
• 20:58
  35%
• 20:59
  or
• 21:00
  40%.
• 21:01
  It's
• 21:01
  not
• 21:01
  going
• 21:01
  to
• 21:01
  take
• 21:02
  your
• 21:02
  margin
• 21:02
  below
• 21:03
  like
• 21:03
  negative
• 21:04
  10
• 21:04
  on
• 21:04
  a
• 21:05
  product.
• 21:05
  Right?
• 21:05
  So
• 21:06
  having
• 21:06
  all
• 21:06
  these
• 21:06
  rules
• 21:07
  in
• 21:07
  place
• 21:07
  is
• 21:08
  important.
• 21:08
  And
• 21:08
  then
• 21:09
  because
• 21:09
  it's
• 21:09
  so
• 21:10
  complex
• 21:10
  and
• 21:10
  there's
• 21:11
  so
• 21:11
  many
• 21:11
  moving
• 21:11
  pieces,
• 21:12
  you
• 21:12
  think
• 21:12
  about
• 21:12
  things
• 21:12
  like
• 21:12
  a
• 21:13
  do
• 21:13
  it
• 21:13
  yourself
• 21:13
  retailer
• 21:14
  where
• 21:15
  like,
• 21:15
  you
• 21:15
  know,
• 21:15
  think
• 21:16
  of
• 21:16
  the
• 21:16
  wall
• 21:16
  of
• 21:17
  paint,
• 21:17
  right?
• 21:18
  Changing
• 21:18
  the
• 21:18
  price
• 21:18
  on
• 21:19
  one
• 21:19
  of
• 21:19
  those
• 21:19
  paints
• 21:20
  will
• 21:20
  influence
• 21:21
  all
• 21:22
  the
• 21:22
  other
• 21:22
  paints.
• 21:23
  Smaller
• 21:23
  sizes,
• 21:24
  bigger
• 21:24
  sizes,
• 21:25
  slightly
• 21:26
  higher
• 21:26
  quality
• 21:27
  versions.
• 21:27
  You
• 21:27
  know,
• 21:28
  you
• 21:28
  build
• 21:28
  these
• 21:28
  complex
• 21:29
  relationships
• 21:30
  or
• 21:30
  even
• 21:30
  furniture
• 21:31
  rising,
• 21:31
  you
• 21:31
  raise
• 21:31
  the
• 21:32
  price
• 21:32
  on
• 21:32
  a
• 21:32
  queen
• 21:32
  size
• 21:33
  bed.
• 21:33
  What
• 21:33
  about
• 21:33
  a
• 21:34
  king
• 21:34
  size
• 21:34
  bed?
• 21:34
  You
• 21:34
  change
• 21:35
  the
• 21:35
  price
• 21:35
  there,
• 21:35
  right?
• 21:36
  So
• 21:36
  all
• 21:36
  of
• 21:36
  this
• 21:36
  stuff
• 21:37
  is
• 21:37
  highly
• 21:37
  connected.
• 21:38
  So
• 21:38
  having
• 21:38
  AI
• 21:39
  be
• 21:39
  able
• 21:40
  to
• 21:40
  solve
• 21:40
  these
• 21:40
  complex
• 21:41
  problems
• 21:41
  while
• 21:42
  creating
• 21:42
  some
• 21:42
  of
• 21:42
  these
• 21:43
  guardrails
• 21:43
  to
• 21:44
  make
• 21:44
  sure
• 21:44
  that,
• 21:44
  for
• 21:45
  instance,
• 21:45
  you
• 21:45
  wouldn't
• 21:45
  take
• 21:45
  the
• 21:45
  price
• 21:46
  on
• 21:46
  a
• 21:46
  queen
• 21:46
  size
• 21:46
  bed
• 21:46
  above
• 21:47
  a
• 21:47
  king
• 21:47
  size
• 21:47
  bed,
• 21:48
  or
• 21:48
  you
• 21:48
  wouldn't
• 21:48
  raise
• 21:49
  the
• 21:49
  price
• 21:49
  on
• 21:49
  a
• 21:49
  small
• 21:50
  can
• 21:50
  of
• 21:50
  paint
• 21:51
  where
• 21:51
  it
• 21:51
  will
• 21:51
  be
• 21:52
  higher
• 21:52
  price
• 21:52
  than
• 21:52
  a
• 21:52
  large
• 21:53
  can
• 21:53
  of
• 21:53
  paint.
• 21:54
  These
• 21:54
  are
• 21:54
  really,
• 21:54
  really
• 21:55
  critical.
• 21:56
  So
• 21:56
  I
• 21:56
  think
• 21:56
  that
• 21:56
  that's
• 21:57
  a,
• 21:58
  a
• 21:58
  major
• 21:58
  thing
• 21:59
  is
• 21:59
  to
• 21:59
  make
• 21:59
  sure
• 22:00
  when
• 22:00
  you're
• 22:00
  investing
• 22:01
  in
• 22:01
  AI
• 22:02
  that
• 22:02
  you
• 22:02
  know,
• 22:02
  your
• 22:03
  strategies,
• 22:03
  you're
• 22:03
  talking
• 22:04
  to
• 22:04
  your
• 22:04
  strategies,
• 22:04
  you're
• 22:05
  setting
• 22:05
  those
• 22:05
  guardrails,
• 22:06
  right.
• 22:07
  And,
• 22:07
  and
• 22:07
  that's
• 22:07
  why
• 22:08
  our
• 22:08
  retailers,
• 22:08
  you
• 22:09
  know,
• 22:09
  have
• 22:09
  been
• 22:09
  very
• 22:10
  successful,
• 22:10
  you
• 22:11
  know,
• 22:11
  in
• 22:11
  building
• 22:12
  their
• 22:12
  price
• 22:12
  perception
• 22:13
  via
• 22:13
  AI,
• 22:13
  because
• 22:14
  it
• 22:14
  has
• 22:15
  prevented
• 22:15
  them
• 22:15
  from
• 22:16
  taking
• 22:16
  multiple
• 22:16
  price
• 22:17
  increases
• 22:17
  in
• 22:17
  a
• 22:17
  row
• 22:18
  or
• 22:18
  raising
• 22:19
  prices
• 22:19
  on
• 22:20
  highly,
• 22:20
  you
• 22:20
  know,
• 22:20
  elastic
• 22:21
  items.
• 22:21
  Even
• 22:22
  if
• 22:22
  you
• 22:22
  get
• 22:22
  a
• 22:22
  cost
• 22:23
  increase,
• 22:23
  maybe
• 22:23
  it's
• 22:24
  not
• 22:24
  the
• 22:24
  right
• 22:24
  thing
• 22:24
  to
• 22:24
  even
• 22:24
  take
• 22:25
  your
• 22:25
  price
• 22:25
  up
• 22:25
  if
• 22:25
  an
• 22:25
  item
• 22:26
  is
• 22:26
  that
• 22:26
  important
• 22:26
  to
• 22:26
  your
• 22:27
  consumers,
• 22:28
  right?
• 22:28
  So
• 22:29
  AI
• 22:30
  is
• 22:30
  proven,
• 22:31
  it
• 22:32
  works.
• 22:32
  It
• 22:32
  has
• 22:33
  high
• 22:33
  roi.
• 22:34
  You
• 22:34
  can
• 22:34
  use
• 22:35
  it
• 22:35
  for
• 22:35
  profits
• 22:36
  or
• 22:36
  you
• 22:36
  can
• 22:36
  use
• 22:37
  it
• 22:37
  for
• 22:37
  revenue,
• 22:37
  but
• 22:37
  right
• 22:38
  now,
• 22:38
  honestly,
• 22:39
  like
• 22:39
  retailers
• 22:40
  are
• 22:40
  using
• 22:40
  it
• 22:40
  for
• 22:40
  price
• 22:41
  perception.
• 22:41
  And
• 22:42
  you
• 22:42
  know,
• 22:42
  I
• 22:42
  think
• 22:43
  that,
• 22:43
  you
• 22:44
  know,
• 22:44
  if
• 22:45
  you
• 22:45
  have
• 22:45
  the
• 22:45
  right
• 22:45
  strategies
• 22:46
  in
• 22:46
  place,
• 22:47
  you
• 22:47
  don't
• 22:47
  need
• 22:47
  to
• 22:47
  worry
• 22:47
  about
• 22:48
  some
• 22:48
  of
• 22:48
  those
• 22:48
  concerns.
• 22:49
  So,
• 22:50
  Matt,
• 22:50
  it
• 22:50
  sounds
• 22:50
  like
• 22:50
  you're,
• 22:51
  it
• 22:51
  sounds
• 22:51
  like
• 22:52
  indirectly
• 22:52
  you're
• 22:53
  also
• 22:53
  arguing
• 22:53
  that
• 22:54
  pricing
• 22:54
  optimization
• 22:55
  is
• 22:55
  good
• 22:55
  for
• 22:55
  then
• 22:56
  both
• 22:56
  consumers
• 22:57
  and,
• 22:57
  and
• 22:57
  retailers.
• 22:58
  Am
• 22:58
  I
• 22:59
  reading
• 22:59
  between
• 23:00
  the
• 23:00
  lines
• 23:00
  here
• 23:01
  or
• 23:02
  is
• 23:03
  it
• 23:03
  not
• 23:03
  that
• 23:03
  simple?
• 23:04
  Yeah,
• 23:04
  it's
• 23:04
  a
• 23:05
  win
• 23:05
  win.
• 23:05
  And
• 23:06
  why?
• 23:07
  Think
• 23:07
  about
• 23:07
  it,
• 23:07
  right?
• 23:08
  What
• 23:08
  is
• 23:08
  AI
• 23:09
  trying
• 23:09
  to
• 23:09
  do?
• 23:09
  AI
• 23:10
  is
• 23:10
  trying
• 23:10
  to
• 23:10
  tell
• 23:11
  you,
• 23:11
  you
• 23:11
  know,
• 23:11
  and
• 23:12
  price
• 23:12
  optimization,
• 23:13
  when
• 23:13
  you
• 23:13
  combine
• 23:13
  them,
• 23:14
  it's
• 23:14
  trying
• 23:14
  to
• 23:14
  tell
• 23:15
  you
• 23:15
  which
• 23:15
  items
• 23:15
  should
• 23:15
  I
• 23:15
  take
• 23:16
  prices
• 23:16
  up
• 23:16
  on,
• 23:16
  which
• 23:17
  I'm
• 23:17
  trying
• 23:17
  to
• 23:17
  take
• 23:17
  prices
• 23:18
  down
• 23:18
  on.
• 23:18
  Right.
• 23:19
  But
• 23:19
  where
• 23:20
  is
• 23:20
  it
• 23:20
  getting
• 23:20
  that
• 23:20
  information?
• 23:21
  It's
• 23:21
  getting
• 23:21
  that
• 23:22
  information
• 23:22
  from
• 23:22
  what
• 23:23
  consumers
• 23:23
  have
• 23:23
  voted
• 23:24
  for
• 23:24
  with
• 23:24
  their
• 23:24
  own
• 23:24
  purchasing
• 23:25
  behavior.
• 23:26
  So
• 23:26
  if
• 23:26
  consumers
• 23:27
  have
• 23:27
  clearly
• 23:27
  demonstrated
• 23:28
  that
• 23:28
  a
• 23:28
  product
• 23:28
  that's
• 23:29
  highly
• 23:29
  elastic,
• 23:30
  meaning
• 23:31
  highly
• 23:31
  susceptible
• 23:32
  to
• 23:32
  if
• 23:32
  you
• 23:32
  change
• 23:33
  the
• 23:33
  price,
• 23:33
  you're
• 23:33
  going
• 23:33
  to
• 23:34
  change
• 23:34
  volume
• 23:35
  significantly,
• 23:36
  then
• 23:36
  AI
• 23:37
  and
• 23:37
  price
• 23:37
  optimization
• 23:38
  is
• 23:38
  going
• 23:38
  to
• 23:38
  do
• 23:38
  everything
• 23:39
  it
• 23:39
  can
• 23:39
  to
• 23:39
  lower
• 23:39
  price
• 23:40
  on
• 23:40
  that
• 23:40
  product.
• 23:41
  And
• 23:42
  that
• 23:42
  is
• 23:42
  the
• 23:42
  goal.
• 23:43
  You
• 23:43
  want
• 23:43
  to
• 23:43
  have
• 23:43
  the
• 23:44
  best
• 23:44
  price
• 23:44
  because
• 23:44
  here's
• 23:45
  the
• 23:45
  reality.
• 23:45
  Most
• 23:45
  retailers
• 23:46
  can't
• 23:46
  get
• 23:46
  into
• 23:47
  a
• 23:47
  price
• 23:47
  war
• 23:47
  on
• 23:48
  every
• 23:48
  single
• 23:48
  item
• 23:48
  with
• 23:49
  Walmart,
• 23:49
  Amazon,
• 23:50
  you
• 23:50
  know,
• 23:50
  all
• 23:50
  the
• 23:51
  price
• 23:51
  leaders
• 23:51
  like
• 23:51
  Aldi.
• 23:52
  Right.
• 23:52
  So
• 23:52
  you
• 23:53
  have
• 23:53
  to
• 23:53
  be
• 23:53
  strategic
• 23:54
  and
• 23:54
  analytical
• 23:54
  and
• 23:55
  say,
• 23:55
  these
• 23:55
  are
• 23:55
  the
• 23:55
  items
• 23:56
  that
• 23:56
  I'm
• 23:56
  going
• 23:56
  to
• 23:56
  go
• 23:57
  all
• 23:57
  in
• 23:57
  on
• 23:58
  price
• 23:58
  very
• 23:58
  aggressively
• 24:00
  and
• 24:00
  then
• 24:00
  leverage
• 24:00
  the
• 24:01
  AI
• 24:01
  and
• 24:01
  optimization
• 24:02
  to
• 24:02
  find
• 24:03
  opportunities
• 24:03
  to
• 24:04
  balance
• 24:04
  out
• 24:04
  the
• 24:04
  margin
• 24:05
  in
• 24:05
  other
• 24:05
  areas.
• 24:05
  Right.
• 24:06
  But
• 24:06
  it's
• 24:06
  not
• 24:06
  just
• 24:07
  the
• 24:07
  direct
• 24:08
  impacts
• 24:08
  as
• 24:08
  well.
• 24:08
  It's
• 24:08
  also
• 24:09
  understanding
• 24:10
  affinities
• 24:10
  and
• 24:10
  cannibalizations.
• 24:11
  I
• 24:11
  change
• 24:12
  the
• 24:12
  price
• 24:12
  on
• 24:12
  this
• 24:12
  item,
• 24:13
  how
• 24:13
  does
• 24:13
  it
• 24:13
  impact
• 24:13
  these
• 24:14
  15
• 24:14
  other
• 24:14
  items?
• 24:15
  Right.
• 24:16
  The
• 24:16
  thing
• 24:17
  that's
• 24:17
  interesting
• 24:17
  though
• 24:18
  is
• 24:18
  that
• 24:19
  the
• 24:19
  primary
• 24:20
  use
• 24:20
  case
• 24:20
  for
• 24:21
  AI
• 24:21
  and
• 24:21
  price
• 24:21
  optimization
• 24:22
  is
• 24:22
  price
• 24:22
  perception.
• 24:23
  Right.
• 24:23
  It's
• 24:23
  easy
• 24:23
  to
• 24:24
  gain
• 24:24
  profits.
• 24:24
  Anyone
• 24:25
  can
• 24:25
  raise
• 24:25
  prices
• 24:26
  and
• 24:26
  increase
• 24:27
  margin,
• 24:27
  increase
• 24:28
  profits.
• 24:29
  But
• 24:29
  to
• 24:29
  be
• 24:29
  fast
• 24:30
  to
• 24:30
  match
• 24:31
  your
• 24:31
  competitors,
• 24:31
  beat
• 24:31
  your
• 24:32
  competitors
• 24:32
  to
• 24:33
  really
• 24:33
  price
• 24:33
  well
• 24:34
  on
• 24:34
  the
• 24:34
  items
• 24:34
  that
• 24:34
  they
• 24:34
  care
• 24:35
  most
• 24:35
  about
• 24:35
  without,
• 24:36
  you
• 24:36
  know,
• 24:36
  bleeding
• 24:37
  margin,
• 24:37
  you
• 24:38
  need
• 24:38
  to
• 24:38
  have
• 24:38
  a
• 24:38
  sophisticated
• 24:39
  solution.
• 24:39
  And
• 24:40
  the
• 24:40
  beauty
• 24:40
  of
• 24:40
  it
• 24:41
  is
• 24:41
  in
• 24:41
  these
• 24:41
  past
• 24:42
  several
• 24:42
  years
• 24:42
  of
• 24:43
  inflation,
• 24:44
  I
• 24:45
  look
• 24:45
  at
• 24:45
  the
• 24:45
  portfolio
• 24:45
  of
• 24:45
  reviance
• 24:46
  customers
• 24:46
  in
• 24:47
  every
• 24:47
  region,
• 24:47
  every
• 24:48
  segment
• 24:48
  of
• 24:48
  retail,
• 24:49
  they
• 24:49
  raise
• 24:50
  their
• 24:50
  aurs
• 24:50
  less
• 24:51
  than
• 24:52
  their
• 24:52
  competitors.
• 24:53
  So
• 24:53
  prices
• 24:53
  were
• 24:54
  actually
• 24:54
  raised
• 24:54
  less
• 24:55
  by
• 24:55
  our
• 24:56
  customers
• 24:57
  than
• 24:57
  the
• 24:57
  market
• 24:58
  in
• 24:58
  general.
• 24:58
  So
• 24:59
  it
• 24:59
  was
• 24:59
  a
• 24:59
  net
• 24:59
  benefit
• 25:00
  to
• 25:00
  consumers.
• 25:01
  And
• 25:02
  price
• 25:02
  perception
• 25:02
  is
• 25:02
  such
• 25:03
  a
• 25:03
  key.
• 25:03
  Factor
• 25:03
  for
• 25:04
  driving
• 25:04
  traffic.
• 25:05
  That's
• 25:05
  really,
• 25:05
  I've
• 25:06
  never
• 25:06
  thought
• 25:06
  about
• 25:06
  that
• 25:07
  in
• 25:07
  terms
• 25:07
  of
• 25:08
  we
• 25:09
  had
• 25:09
  a
• 25:09
  customer.
• 25:10
  Gained
• 25:10
  33%
• 25:11
  share
• 25:11
  in
• 25:11
  a
• 25:12
  major
• 25:12
  European
• 25:13
  market
• 25:13
  because
• 25:14
  customers
• 25:14
  flocked
• 25:15
  to
• 25:15
  them
• 25:15
  at
• 25:15
  a
• 25:15
  time
• 25:16
  when
• 25:16
  inflation
• 25:16
  was
• 25:17
  high.
• 25:17
  You
• 25:17
  know,
• 25:17
  we've
• 25:18
  had
• 25:18
  all
• 25:18
  sorts
• 25:18
  of
• 25:18
  wins
• 25:19
  like
• 25:19
  this
• 25:19
  where,
• 25:20
  you
• 25:20
  know,
• 25:21
  gaining
• 25:22
  share,
• 25:22
  gaining
• 25:22
  volume,
• 25:23
  outperforming
• 25:24
  the
• 25:24
  market
• 25:24
  in
• 25:24
  revenue
• 25:25
  because
• 25:25
  at
• 25:26
  the
• 25:26
  End
• 25:26
  of
• 25:26
  the
• 25:26
  day,
• 25:27
  you
• 25:27
  know,
• 25:28
  it's
• 25:28
  really
• 25:28
  hard
• 25:29
  when
• 25:29
  your
• 25:29
  costs
• 25:29
  are
• 25:29
  going
• 25:30
  up,
• 25:30
  to
• 25:31
  do
• 25:31
  it
• 25:31
  in
• 25:31
  your
• 25:31
  head,
• 25:31
  to
• 25:32
  do
• 25:32
  it
• 25:32
  manually,
• 25:32
  to
• 25:33
  do
• 25:33
  it
• 25:33
  in
• 25:33
  Excel,
• 25:34
  and
• 25:34
  then
• 25:34
  to
• 25:34
  do
• 25:34
  it
• 25:34
  across
• 25:34
  your
• 25:35
  entire
• 25:35
  assortment
• 25:35
  and
• 25:36
  all
• 25:36
  your
• 25:36
  stores.
• 25:37
  So
• 25:37
  you
• 25:37
  really
• 25:37
  need
• 25:38
  help
• 25:38
  to
• 25:38
  build
• 25:38
  that
• 25:38
  price
• 25:39
  perception.
• 25:39
  And
• 25:39
  it
• 25:39
  really
• 25:40
  is
• 25:40
  a
• 25:40
  net
• 25:40
  benefit
• 25:40
  for
• 25:41
  consumers.
• 25:42
  And
• 25:42
  if
• 25:42
  you're
• 25:43
  always
• 25:43
  focused
• 25:43
  on
• 25:43
  your
• 25:43
  consumers
• 25:44
  because,
• 25:44
  again,
• 25:44
  pricing
• 25:45
  is
• 25:45
  visible
• 25:45
  to
• 25:45
  them,
• 25:46
  there's
• 25:46
  a
• 25:46
  lot
• 25:46
  of
• 25:47
  great
• 25:47
  things
• 25:47
  in
• 25:47
  retail,
• 25:47
  but
• 25:48
  very
• 25:48
  few
• 25:48
  things
• 25:48
  are
• 25:48
  visible.
• 25:50
  You
• 25:50
  know,
• 25:50
  behind
• 25:50
  the
• 25:51
  scenes,
• 25:51
  pricing
• 25:51
  is
• 25:51
  the
• 25:52
  most
• 25:52
  visible
• 25:52
  thing.
• 25:54
  So
• 25:54
  that
• 25:55
  is,
• 25:55
  that's
• 25:56
  going
• 25:56
  to
• 25:56
  be
• 25:56
  critical.
• 25:57
  Right,
• 25:57
  so,
• 25:58
  yeah,
• 25:59
  that
• 25:59
  benefit
• 25:59
  to
• 25:59
  consumers.
• 26:00
  Yeah.
• 26:01
  Matt,
• 26:01
  have
• 26:01
  you
• 26:02
  seen
• 26:02
  any
• 26:02
  retailers
• 26:03
  who
• 26:03
  are
• 26:03
  using
• 26:04
  AI
• 26:04
  for
• 26:05
  pricing
• 26:06
  optimization,
• 26:06
  like
• 26:07
  in
• 26:07
  those
• 26:07
  adjacent
• 26:08
  categories
• 26:08
  like
• 26:08
  you're
• 26:08
  talking
• 26:09
  about,
• 26:09
  like,
• 26:09
  if
• 26:10
  you're
• 26:10
  pricing
• 26:10
  avocados
• 26:11
  or
• 26:11
  something,
• 26:12
  like,
• 26:12
  are
• 26:12
  you
• 26:12
  seeing
• 26:13
  that,
• 26:13
  like,
• 26:14
  chips
• 26:14
  might
• 26:14
  be
• 26:15
  priced
• 26:15
  in
• 26:15
  a
• 26:15
  certain
• 26:16
  way?
• 26:16
  Or
• 26:16
  like,
• 26:17
  are
• 26:17
  they,
• 26:17
  are
• 26:17
  they
• 26:17
  doing
• 26:17
  any,
• 26:18
  like,
• 26:18
  bundling
• 26:19
  in
• 26:19
  those
• 26:19
  scenarios
• 26:19
  too,
• 26:20
  now
• 26:20
  that
• 26:20
  they
• 26:20
  have
• 26:21
  so
• 26:21
  much
• 26:21
  data
• 26:22
  at
• 26:22
  their
• 26:22
  fingertips?
• 26:23
  Yeah,
• 26:24
  no.
• 26:24
  And
• 26:25
  actually,
• 26:25
  I
• 26:25
  mean,
• 26:25
  that's,
• 26:25
  that's
• 26:26
  the
• 26:26
  critical
• 26:26
  element
• 26:27
  of,
• 26:27
  you
• 26:27
  know,
• 26:28
  a
• 26:28
  lot
• 26:28
  of
• 26:28
  merchants
• 26:28
  are
• 26:29
  pretty
• 26:29
  good
• 26:29
  at
• 26:29
  forecasting
• 26:30
  impacts.
• 26:30
  Right.
• 26:31
  They
• 26:31
  do
• 26:31
  it
• 26:31
  a
• 26:31
  lot
• 26:32
  as
• 26:32
  a
• 26:32
  day
• 26:32
  job.
• 26:32
  They
• 26:33
  work
• 26:33
  with,
• 26:33
  you
• 26:34
  know,
• 26:34
  their,
• 26:34
  their
• 26:35
  replenishment
• 26:36
  person.
• 26:36
  So
• 26:37
  they
• 26:37
  know
• 26:37
  probably
• 26:38
  if
• 26:38
  I
• 26:38
  take
• 26:38
  my
• 26:39
  price
• 26:39
  down
• 26:39
  10
• 26:40
  on
• 26:40
  this
• 26:40
  one
• 26:40
  item,
• 26:41
  I
• 26:41
  might
• 26:41
  be
• 26:41
  able
• 26:41
  to,
• 26:41
  you
• 26:42
  know,
• 26:42
  you
• 26:42
  know,
• 26:42
  guess
• 26:43
  the
• 26:43
  lift
• 26:43
  on
• 26:43
  this
• 26:43
  one
• 26:44
  item.
• 26:44
  Right,
• 26:44
  sure,
• 26:45
  sure.
• 26:45
  It's
• 26:45
  so
• 26:46
  much
• 26:46
  more
• 26:46
  complex.
• 26:46
  What
• 26:47
  about
• 26:47
  the
• 26:47
  affinity
• 26:47
  to
• 26:48
  those
• 26:48
  other
• 26:48
  products?
• 26:48
  So,
• 26:48
  okay,
• 26:49
  avocado.
• 26:49
  What
• 26:49
  about,
• 26:50
  like,
• 26:50
  you
• 26:50
  know,
• 26:51
  corn
• 26:51
  chips?
• 26:51
  Now
• 26:51
  I
• 26:52
  sell
• 26:52
  more
• 26:52
  avocados.
• 26:52
  I
• 26:52
  might.
• 26:53
  More
• 26:53
  corn
• 26:53
  chips
• 26:54
  or
• 26:54
  bread.
• 26:54
  Right?
• 26:54
  Avocado
• 26:55
  toast.
• 26:55
  Right,
• 26:55
  yeah.
• 26:56
  Or
• 26:56
  what
• 26:56
  about
• 26:57
  cannibalization?
• 26:58
  Okay,
• 26:58
  I
• 26:58
  buy
• 26:58
  more
• 26:59
  of
• 26:59
  this
• 26:59
  avocado,
• 27:00
  maybe
• 27:00
  I'm
• 27:00
  buying
• 27:00
  less
• 27:01
  of
• 27:01
  something
• 27:01
  else.
• 27:01
  Maybe
• 27:02
  there's
• 27:02
  something
• 27:02
  else
• 27:02
  that
• 27:03
  they
• 27:03
  want
• 27:03
  or
• 27:03
  pantry
• 27:04
  loading.
• 27:04
  Right.
• 27:05
  There
• 27:05
  are
• 27:05
  certain
• 27:05
  products,
• 27:06
  like
• 27:06
  paper
• 27:06
  towel,
• 27:07
  you
• 27:07
  know.
• 27:07
  Yeah.
• 27:07
  You
• 27:08
  can
• 27:08
  lower
• 27:08
  price
• 27:08
  and
• 27:08
  sell
• 27:08
  out
• 27:09
  of
• 27:09
  paper
• 27:09
  towel,
• 27:09
  but
• 27:09
  are
• 27:09
  people
• 27:10
  going
• 27:10
  to
• 27:10
  use
• 27:10
  more
• 27:10
  paper
• 27:11
  towel
• 27:11
  as
• 27:11
  a
• 27:12
  result?
• 27:12
  Or
• 27:13
  cat
• 27:13
  food
• 27:14
  or
• 27:14
  dog
• 27:14
  food
• 27:14
  or
• 27:14
  litter
• 27:15
  or
• 27:15
  any
• 27:15
  of
• 27:15
  these
• 27:16
  categories
• 27:16
  where,
• 27:17
  you
• 27:17
  know,
• 27:17
  you're
• 27:17
  not
• 27:18
  expanding
• 27:18
  consumption
• 27:19
  necessarily?
• 27:20
  Dog
• 27:20
  food's
• 27:20
  a
• 27:20
  classic
• 27:20
  one.
• 27:21
  Right.
• 27:21
  People
• 27:21
  don't
• 27:21
  feed
• 27:22
  their
• 27:22
  dog
• 27:22
  bore
• 27:22
  because
• 27:23
  they
• 27:23
  got
• 27:23
  on
• 27:23
  discount.
• 27:24
  So
• 27:24
  it's
• 27:24
  good
• 27:25
  to
• 27:25
  understand
• 27:25
  that,
• 27:25
  you
• 27:26
  know,
• 27:26
  if
• 27:26
  you
• 27:26
  sell
• 27:26
  more
• 27:27
  because
• 27:27
  it's
• 27:27
  on
• 27:27
  promo,
• 27:28
  what's
• 27:28
  the
• 27:28
  impact
• 27:28
  two
• 27:29
  weeks
• 27:29
  after
• 27:29
  the
• 27:29
  promo
• 27:30
  ends?
• 27:30
  Are
• 27:30
  people
• 27:30
  buying
• 27:31
  less?
• 27:31
  Yeah,
• 27:32
  yeah.
• 27:35
  I
• 27:35
  gotta
• 27:35
  tell
• 27:35
  you,
• 27:36
  I've.
• 27:36
  I
• 27:36
  mean,
• 27:37
  as
• 27:37
  a
• 27:37
  former
• 27:37
  merchandising
• 27:38
  executive
• 27:38
  in
• 27:38
  both
• 27:39
  grocery
• 27:39
  and
• 27:39
  in
• 27:40
  home
• 27:40
  furnishings,
• 27:40
  like
• 27:40
  your,
• 27:41
  your
• 27:41
  Queen
• 27:41
  mattress
• 27:42
  thing
• 27:42
  stuck
• 27:42
  with
• 27:42
  me.
• 27:42
  The
• 27:43
  avocado
• 27:43
  example.
• 27:44
  Sucker.
• 27:44
  I
• 27:45
  never
• 27:45
  once
• 27:46
  thought
• 27:47
  about
• 27:47
  the
• 27:47
  actions
• 27:48
  that
• 27:48
  my
• 27:48
  price,
• 27:49
  that
• 27:49
  I
• 27:49
  was
• 27:49
  taking
• 27:49
  on
• 27:49
  price
• 27:50
  would
• 27:50
  have
• 27:50
  on
• 27:50
  other
• 27:51
  categories
• 27:52
  in
• 27:52
  the
• 27:52
  store.
• 27:52
  That
• 27:53
  was
• 27:53
  a
• 27:53
  conversation
• 27:53
  that
• 27:54
  I've
• 27:55
  never
• 27:55
  even
• 27:55
  seen
• 27:55
  before,
• 27:56
  never
• 27:56
  even
• 27:57
  heard.
• 27:57
  Yeah,
• 27:57
  so.
• 27:58
  Yeah.
• 27:58
  Yeah.
• 27:59
  Well,
• 27:59
  and
• 27:59
  partly
• 27:59
  it's
• 28:00
  because
• 28:00
  you're
• 28:00
  in
• 28:00
  your
• 28:01
  own
• 28:01
  category
• 28:02
  of
• 28:02
  ownership
• 28:03
  that
• 28:03
  you're
• 28:04
  responsible
• 28:04
  for
• 28:04
  and
• 28:04
  you
• 28:05
  want
• 28:05
  to
• 28:05
  drive
• 28:05
  your
• 28:05
  sales
• 28:06
  first
• 28:06
  and
• 28:06
  foremost.
• 28:07
  And
• 28:08
  also
• 28:08
  because
• 28:09
  it's
• 28:10
  too
• 28:10
  hard
• 28:10
  for
• 28:11
  a
• 28:11
  human
• 28:11
  to
• 28:12
  actually
• 28:12
  comprehend
• 28:12
  all
• 28:13
  of
• 28:13
  that.
• 28:13
  Right,
• 28:13
  Matt?
• 28:14
  Like,
• 28:14
  you
• 28:14
  actually
• 28:14
  have
• 28:15
  to
• 28:15
  have
• 28:15
  a
• 28:15
  system
• 28:16
  that
• 28:16
  can
• 28:17
  understand
• 28:17
  this
• 28:17
  to
• 28:17
  the
• 28:18
  degree
• 28:18
  that.
• 28:18
  Which
• 28:18
  you're
• 28:18
  talking
• 28:19
  about
• 28:19
  it.
• 28:20
  Yeah.
• 28:20
  I
• 28:20
  mean,
• 28:21
  you
• 28:21
  know,
• 28:21
  we
• 28:22
  have
• 28:22
  a
• 28:22
  lot
• 28:22
  of
• 28:22
  great
• 28:23
  people
• 28:23
  working
• 28:23
  in
• 28:23
  retail,
• 28:24
  very
• 28:24
  intelligent.
• 28:25
  I
• 28:25
  was
• 28:25
  a
• 28:25
  merchant,
• 28:25
  right.
• 28:26
  I
• 28:26
  had
• 28:26
  a
• 28:27
  huge,
• 28:27
  huge
• 28:28
  category.
• 28:29
  I
• 28:29
  was
• 28:30
  buying
• 28:30
  a
• 28:30
  lot
• 28:30
  of
• 28:30
  different
• 28:30
  international
• 28:31
  food,
• 28:31
  so
• 28:31
  I
• 28:32
  had
• 28:32
  several
• 28:32
  hundred
• 28:32
  SKUs.
• 28:33
  Right.
• 28:33
  It's
• 28:33
  just
• 28:33
  impossible
• 28:34
  to
• 28:34
  know
• 28:34
  the
• 28:34
  right
• 28:35
  price
• 28:35
  point
• 28:35
  for
• 28:36
  those
• 28:36
  SKUs
• 28:36
  and
• 28:37
  then
• 28:37
  really
• 28:37
  localize
• 28:38
  those
• 28:38
  prices
• 28:38
  to
• 28:39
  the
• 28:39
  consumer
• 28:39
  while
• 28:40
  balancing
• 28:40
  your
• 28:40
  objectives.
• 28:41
  And
• 28:41
  even
• 28:41
  if
• 28:41
  I
• 28:42
  could
• 28:42
  have
• 28:42
  done
• 28:42
  that,
• 28:43
  even
• 28:43
  let's
• 28:43
  say
• 28:43
  I
• 28:43
  was
• 28:44
  just
• 28:44
  amazingly
• 28:45
  brilliant,
• 28:45
  you
• 28:46
  know,
• 28:46
  and
• 28:46
  able
• 28:46
  to
• 28:46
  solve
• 28:47
  all
• 28:47
  that,
• 28:47
  I
• 28:48
  still
• 28:48
  wouldn't
• 28:48
  have
• 28:48
  had
• 28:48
  the
• 28:49
  perspective
• 28:49
  of,
• 28:49
  how
• 28:49
  does
• 28:50
  this
• 28:50
  impact
• 28:50
  my
• 28:50
  fellow
• 28:51
  merchants
• 28:51
  sitting
• 28:51
  next
• 28:51
  to
• 28:52
  me,
• 28:52
  sitting
• 28:52
  down?
• 28:53
  So
• 28:53
  having
• 28:54
  that
• 28:54
  portfolio
• 28:55
  view
• 28:55
  and
• 28:55
  having
• 28:55
  analytics
• 28:56
  that
• 28:56
  can
• 28:56
  really.
• 28:56
  So
• 28:56
  Avocado
• 28:57
  is
• 28:57
  a
• 28:57
  great
• 28:57
  example.
• 28:58
  Avocado
• 28:58
  is
• 28:58
  one
• 28:58
  of
• 28:58
  the
• 28:59
  products
• 28:59
  that
• 28:59
  will
• 28:59
  be
• 28:59
  hit
• 28:59
  really
• 29:00
  hard
• 29:00
  by
• 29:00
  tariffs,
• 29:01
  you
• 29:01
  know,
• 29:01
  assuming,
• 29:02
  you
• 29:02
  know,
• 29:03
  things
• 29:03
  go
• 29:03
  through.
• 29:03
  Right.
• 29:04
  90%
• 29:05
  come
• 29:05
  from
• 29:05
  Mexico.
• 29:06
  Right.
• 29:06
  The
• 29:07
  10%
• 29:07
  that
• 29:08
  come
• 29:08
  from
• 29:08
  the
• 29:08
  U.S.
• 29:09
  rely
• 29:10
  on,
• 29:10
  you
• 29:10
  know,
• 29:11
  fertilizers
• 29:11
  and
• 29:11
  things
• 29:12
  like
• 29:12
  that
• 29:12
  that
• 29:12
  come
• 29:12
  from
• 29:12
  other
• 29:13
  countries,
• 29:13
  like
• 29:13
  Canada.
• 29:14
  Potash.
• 29:14
  Right.
• 29:15
  So
• 29:15
  price
• 29:15
  costs
• 29:16
  will
• 29:16
  probably
• 29:16
  go
• 29:16
  up
• 29:16
  on
• 29:17
  that.
• 29:17
  Right.
• 29:17
  So
• 29:17
  this
• 29:18
  is
• 29:18
  an
• 29:18
  example
• 29:18
  where
• 29:19
  prices
• 29:20
  might
• 29:20
  have
• 29:20
  to
• 29:20
  go
• 29:20
  up
• 29:20
  on
• 29:20
  that
• 29:21
  product.
• 29:21
  So
• 29:22
  now
• 29:22
  what
• 29:22
  do
• 29:22
  other
• 29:23
  produce
• 29:23
  buyers
• 29:23
  do?
• 29:24
  You
• 29:24
  know,
• 29:24
  oranges.
• 29:25
  Most
• 29:25
  oranges
• 29:25
  come
• 29:25
  from
• 29:25
  the
• 29:26
  U.S.
• 29:26
  right.
• 29:27
  So
• 29:27
  now
• 29:27
  you're
• 29:27
  looking
• 29:28
  at
• 29:28
  total
• 29:28
  shifts
• 29:29
  and,
• 29:29
  you
• 29:29
  know,
• 29:30
  maybe
• 29:30
  like,
• 29:30
  financial
• 29:31
  objectives
• 29:31
  for
• 29:31
  these
• 29:32
  different
• 29:32
  merchants,
• 29:33
  because
• 29:34
  the
• 29:34
  cost
• 29:34
  structure
• 29:34
  is
• 29:35
  changing
• 29:35
  so
• 29:35
  much
• 29:36
  for
• 29:36
  one
• 29:36
  of
• 29:36
  them,
• 29:36
  while
• 29:37
  the
• 29:37
  other
• 29:37
  one
• 29:37
  might
• 29:37
  actually
• 29:38
  have
• 29:38
  some
• 29:38
  surplus
• 29:39
  on
• 29:39
  the
• 29:39
  other
• 29:39
  side,
• 29:40
  because
• 29:40
  now
• 29:40
  maybe
• 29:40
  there
• 29:41
  are
• 29:41
  fewer
• 29:41
  exports
• 29:41
  of
• 29:42
  oranges
• 29:42
  now
• 29:42
  you
• 29:42
  might
• 29:43
  actually
• 29:43
  be
• 29:43
  able
• 29:43
  to
• 29:43
  get
• 29:43
  better
• 29:44
  pricing
• 29:44
  there.
• 29:44
  So
• 29:45
  having
• 29:45
  analytics
• 29:46
  to
• 29:46
  really
• 29:46
  understand
• 29:47
  what
• 29:47
  happens
• 29:48
  if
• 29:48
  I
• 29:48
  change
• 29:48
  the
• 29:48
  price
• 29:49
  here
• 29:49
  versus
• 29:49
  here,
• 29:50
  how
• 29:50
  do
• 29:50
  I
• 29:50
  restructure?
• 29:51
  Maybe
• 29:51
  this
• 29:51
  category
• 29:51
  used
• 29:52
  to
• 29:52
  be
• 29:52
  a
• 29:52
  margin
• 29:52
  category,
• 29:53
  now
• 29:53
  it
• 29:53
  can
• 29:53
  be
• 29:53
  a
• 29:53
  traffic
• 29:54
  category
• 29:54
  and
• 29:55
  vice
• 29:55
  versa.
• 29:55
  To
• 29:56
  have
• 29:56
  that
• 29:56
  at
• 29:57
  a
• 29:57
  portfolio
• 29:57
  level
• 29:58
  and
• 29:58
  present
• 29:58
  that
• 29:58
  to,
• 29:59
  you
• 29:59
  know,
• 29:59
  executives,
• 29:59
  you
• 30:00
  know,
• 30:00
  SVP's
• 30:01
  of
• 30:01
  merchandising,
• 30:02
  C
• 30:02
  suite
• 30:02
  and
• 30:03
  say,
• 30:03
  look,
• 30:04
  here's
• 30:04
  a
• 30:04
  way
• 30:04
  that
• 30:04
  we
• 30:04
  can,
• 30:05
  you
• 30:05
  know,
• 30:05
  you
• 30:05
  know,
• 30:06
  even
• 30:06
  though
• 30:06
  there's
• 30:06
  an
• 30:06
  issue
• 30:06
  hitting
• 30:07
  this
• 30:07
  business,
• 30:08
  we
• 30:08
  can
• 30:08
  make
• 30:08
  up
• 30:08
  for
• 30:08
  it
• 30:09
  with
• 30:09
  this
• 30:09
  business
• 30:09
  and
• 30:10
  here's
• 30:10
  how
• 30:10
  we're
• 30:10
  going
• 30:10
  to
• 30:10
  do
• 30:10
  it
• 30:11
  in
• 30:11
  a
• 30:11
  way
• 30:11
  that
• 30:11
  makes
• 30:11
  our
• 30:11
  customers
• 30:12
  happy.
• 30:13
  That's,
• 30:13
  that's
• 30:14
  powerful.
• 30:15
  Yeah.
• 30:15
  And
• 30:15
  Matt,
• 30:15
  the
• 30:15
  other
• 30:16
  point
• 30:16
  too
• 30:16
  that
• 30:16
  I
• 30:16
  just
• 30:16
  want
• 30:16
  to,
• 30:17
  you
• 30:17
  know,
• 30:17
  call
• 30:17
  out
• 30:17
  for
• 30:18
  the
• 30:18
  audience
• 30:18
  is
• 30:18
  you're
• 30:18
  essentially
• 30:19
  making
• 30:19
  an
• 30:19
  argument
• 30:20
  for
• 30:20
  centralized
• 30:20
  pricing
• 30:21
  operations
• 30:22
  within
• 30:22
  a
• 30:22
  retail
• 30:23
  organization
• 30:23
  too.
• 30:24
  That
• 30:24
  there's
• 30:24
  just
• 30:24
  such
• 30:24
  a
• 30:24
  complex
• 30:25
  endeavor
• 30:25
  that
• 30:25
  you
• 30:26
  have
• 30:26
  to
• 30:26
  have
• 30:26
  a
• 30:26
  centralized
• 30:27
  center
• 30:27
  of
• 30:27
  excellence
• 30:27
  to
• 30:27
  be
• 30:28
  able
• 30:28
  to
• 30:28
  manage
• 30:28
  pricing
• 30:29
  in
• 30:29
  this
• 30:29
  way
• 30:30
  versus,
• 30:30
  you
• 30:30
  know,
• 30:30
  farming
• 30:30
  it
• 30:31
  out
• 30:31
  to
• 30:32
  different
• 30:32
  teams,
• 30:32
  I'm
• 30:33
  assuming.
• 30:33
  Is
• 30:33
  that
• 30:33
  correct?
• 30:34
  Would
• 30:34
  you
• 30:34
  advocate
• 30:35
  for
• 30:35
  that?
• 30:35
  Yeah,
• 30:36
  we're
• 30:36
  actually
• 30:36
  seeing
• 30:37
  that
• 30:37
  is
• 30:38
  generally
• 30:38
  the
• 30:38
  best
• 30:39
  trend
• 30:39
  now.
• 30:40
  I
• 30:40
  would
• 30:40
  say
• 30:41
  we
• 30:41
  still
• 30:41
  see
• 30:41
  merchants
• 30:42
  own
• 30:42
  most
• 30:42
  of
• 30:42
  their
• 30:42
  pricing,
• 30:43
  right.
• 30:43
  They
• 30:43
  own
• 30:43
  their
• 30:43
  P
• 30:44
  Ls,
• 30:44
  they
• 30:45
  own
• 30:45
  their
• 30:45
  categories,
• 30:46
  they
• 30:46
  know
• 30:46
  their
• 30:46
  products
• 30:46
  well.
• 30:47
  So
• 30:47
  really
• 30:48
  the
• 30:48
  best
• 30:48
  practice
• 30:49
  are
• 30:49
  really
• 30:49
  well
• 30:50
  informed,
• 30:50
  strategic
• 30:51
  minded,
• 30:51
  analytically
• 30:52
  thinking.
• 30:53
  Pricing
• 30:53
  teams
• 30:54
  that
• 30:54
  are
• 30:54
  very
• 30:55
  closely
• 30:55
  working
• 30:55
  with
• 30:55
  their
• 30:56
  merchants
• 30:56
  have
• 30:56
  high
• 30:57
  adoption,
• 30:57
  they
• 30:57
  trust
• 30:58
  each
• 30:58
  other,
• 30:58
  they
• 30:58
  are
• 30:59
  the
• 30:59
  everyday
• 30:59
  hero
• 30:59
  to
• 31:00
  their
• 31:00
  merchant.
• 31:00
  Think
• 31:01
  about
• 31:01
  things
• 31:01
  like
• 31:01
  vendor
• 31:01
  negotiations.
• 31:02
  Right.
• 31:02
  And
• 31:02
  their
• 31:03
  vendor
• 31:03
  partners.
• 31:03
  I
• 31:03
  was
• 31:03
  just
• 31:04
  going
• 31:04
  to
• 31:04
  say,
• 31:04
  yeah,
• 31:04
  vendors
• 31:05
  are
• 31:05
  important
• 31:05
  pieces
• 31:06
  too.
• 31:06
  Yeah.
• 31:07
  Like
• 31:07
  think
• 31:07
  of
• 31:07
  that,
• 31:07
  the
• 31:08
  ability
• 31:08
  to
• 31:08
  negotiate.
• 31:09
  Right.
• 31:09
  Your
• 31:09
  vendor
• 31:09
  comes
• 31:10
  to
• 31:10
  you
• 31:10
  with
• 31:10
  a
• 31:11
  6%
• 31:11
  cost
• 31:12
  increase,
• 31:12
  right.
• 31:13
  That
• 31:13
  starts
• 31:13
  on
• 31:13
  this
• 31:14
  date,
• 31:14
  right
• 31:14
  now.
• 31:14
  You
• 31:15
  have
• 31:15
  a
• 31:15
  powerful
• 31:16
  analytical
• 31:16
  tool
• 31:16
  that
• 31:16
  says,
• 31:17
  well,
• 31:17
  you
• 31:17
  know,
• 31:17
  you
• 31:18
  want
• 31:18
  to
• 31:18
  increase
• 31:18
  my
• 31:18
  cost
• 31:19
  by
• 31:19
  X
• 31:19
  percent,
• 31:19
  why
• 31:20
  don't
• 31:20
  you
• 31:20
  increase
• 31:20
  my
• 31:20
  cost
• 31:21
  by
• 31:21
  only
• 31:21
  4%?
• 31:22
  And
• 31:22
  here's,
• 31:23
  here's
• 31:23
  what
• 31:23
  I'll
• 31:23
  do
• 31:24
  for
• 31:24
  you.
• 31:24
  I
• 31:24
  modeled
• 31:24
  it
• 31:25
  out.
• 31:25
  Instead
• 31:25
  of
• 31:25
  taking
• 31:25
  this
• 31:25
  price,
• 31:26
  I'll
• 31:26
  take
• 31:26
  this
• 31:26
  price.
• 31:27
  Your
• 31:27
  units
• 31:27
  will
• 31:28
  be
• 31:28
  20%
• 31:28
  higher.
• 31:29
  So
• 31:30
  I'm
• 31:30
  guaranteeing.
• 31:31
  Or
• 31:31
  you
• 31:32
  can
• 31:32
  use
• 31:32
  it
• 31:32
  for
• 31:32
  other
• 31:32
  things.
• 31:32
  You
• 31:33
  can
• 31:33
  say,
• 31:33
  okay,
• 31:33
  raise
• 31:34
  my
• 31:34
  cost
• 31:34
  this
• 31:34
  much.
• 31:35
  Look
• 31:35
  what
• 31:35
  will
• 31:35
  happen
• 31:35
  to
• 31:35
  your
• 31:36
  mix
• 31:36
  versus
• 31:36
  my
• 31:36
  private
• 31:37
  label
• 31:37
  product.
• 31:38
  My
• 31:38
  private
• 31:38
  label
• 31:38
  product
• 31:39
  is
• 31:39
  going
• 31:39
  to
• 31:39
  gain
• 31:39
  10
• 31:40
  share
• 31:40
  of
• 31:40
  wallet
• 31:41
  in
• 31:41
  my
• 31:41
  aisle
• 31:41
  versus
• 31:42
  your
• 31:42
  product.
• 31:43
  So
• 31:43
  there's
• 31:43
  so
• 31:43
  much
• 31:43
  you
• 31:43
  can
• 31:44
  do
• 31:44
  with
• 31:44
  these
• 31:44
  powerful
• 31:44
  tools.
• 31:45
  And
• 31:46
  I
• 31:46
  never
• 31:46
  had
• 31:46
  that
• 31:46
  data,
• 31:47
  ever
• 31:47
  had.
• 31:47
  I
• 31:47
  know,
• 31:48
  I
• 31:48
  know.
• 31:48
  I,
• 31:49
  I,
• 31:49
  you
• 31:49
  know,
• 31:50
  we,
• 31:50
  you
• 31:50
  know,
• 31:51
  we
• 31:51
  had
• 31:51
  a
• 31:51
  decent
• 31:52
  negotiation
• 31:53
  situation
• 31:53
  there
• 31:54
  in
• 31:54
  Minneapolis.
• 31:55
  But
• 31:55
  I
• 31:55
  mean
• 31:56
  just
• 31:56
  the
• 31:56
  power
• 31:56
  of
• 31:56
  these
• 31:57
  tools
• 31:57
  is
• 31:57
  just,
• 31:58
  yeah,
• 31:58
  just
• 31:58
  like
• 31:59
  critical.
• 32:00
  I
• 32:00
  mean,
• 32:00
  you,
• 32:00
  and
• 32:01
  honestly,
• 32:01
  it's
• 32:01
  not
• 32:01
  about
• 32:02
  us
• 32:02
  versus
• 32:02
  them.
• 32:02
  If
• 32:02
  you
• 32:02
  want
• 32:03
  to
• 32:03
  be
• 32:03
  that
• 32:03
  type
• 32:03
  of
• 32:03
  merchant.
• 32:03
  I
• 32:04
  was
• 32:04
  always
• 32:04
  a
• 32:04
  collaborative
• 32:05
  merchant.
• 32:06
  You
• 32:06
  can
• 32:06
  make
• 32:06
  a
• 32:06
  win,
• 32:07
  win,
• 32:07
  win
• 32:07
  where
• 32:07
  the
• 32:07
  customer
• 32:08
  is
• 32:08
  winning
• 32:08
  and
• 32:08
  gaining
• 32:08
  a
• 32:08
  lower
• 32:09
  price.
• 32:09
  The
• 32:09
  merchant
• 32:10
  is
• 32:10
  winning
• 32:11
  and
• 32:11
  then
• 32:11
  the
• 32:11
  vendor
• 32:12
  is
• 32:12
  actually
• 32:12
  winning
• 32:13
  and
• 32:13
  they're
• 32:13
  getting,
• 32:13
  you
• 32:13
  know,
• 32:14
  better
• 32:14
  volume,
• 32:15
  better
• 32:15
  units.
• 32:16
  It's
• 32:16
  not.
• 32:16
  I
• 32:16
  mean,
• 32:17
  if
• 32:17
  you
• 32:17
  can
• 32:17
  model
• 32:17
  it
• 32:18
  out
• 32:18
  and
• 32:18
  see
• 32:18
  what's
• 32:18
  going
• 32:18
  to
• 32:19
  happen,
• 32:19
  there
• 32:19
  can
• 32:19
  be
• 32:20
  some
• 32:20
  scenarios
• 32:20
  where
• 32:20
  everyone
• 32:21
  wins.
• 32:22
  Well,
• 32:23
  Matt,
• 32:23
  you've
• 32:24
  given
• 32:24
  us
• 32:24
  so
• 32:24
  many
• 32:25
  great
• 32:25
  examples
• 32:25
  today,
• 32:26
  and
• 32:26
  I
• 32:26
  think,
• 32:27
  especially
• 32:27
  with
• 32:27
  the
• 32:28
  tariffs
• 32:28
  example
• 32:28
  too,
• 32:29
  like,
• 32:29
  I
• 32:29
  think
• 32:29
  you're
• 32:30
  making
• 32:30
  the
• 32:30
  case
• 32:30
  for
• 32:31
  why
• 32:31
  this
• 32:32
  pricing
• 32:33
  optimization
• 32:33
  needs
• 32:34
  to
• 32:34
  be
• 32:34
  happening
• 32:34
  in
• 32:34
  real
• 32:35
  time.
• 32:35
  It's
• 32:35
  one
• 32:35
  thing
• 32:35
  we've
• 32:36
  heard
• 32:36
  just
• 32:36
  even
• 32:37
  over
• 32:37
  the
• 32:37
  course
• 32:37
  of
• 32:37
  the
• 32:38
  last
• 32:38
  week,
• 32:38
  since
• 32:39
  this
• 32:39
  has
• 32:39
  been
• 32:39
  moving
• 32:39
  so
• 32:40
  quickly,
• 32:40
  is
• 32:40
  that
• 32:41
  you
• 32:41
  just,
• 32:41
  you
• 32:41
  don't
• 32:42
  have
• 32:42
  the
• 32:42
  time
• 32:42
  to
• 32:42
  do
• 32:43
  weekly
• 32:43
  meetings
• 32:43
  on
• 32:43
  these
• 32:44
  things
• 32:44
  anymore.
• 32:44
  You
• 32:44
  have
• 32:45
  to
• 32:45
  be
• 32:45
  able
• 32:45
  to
• 32:45
  respond
• 32:46
  and
• 32:46
  react
• 32:46
  in,
• 32:47
  in
• 32:47
  real
• 32:47
  time.
• 32:49
  So
• 32:49
  I'd
• 32:49
  love
• 32:49
  to
• 32:50
  kind
• 32:50
  of
• 32:50
  close
• 32:50
  with
• 32:51
  some
• 32:51
  prognostication
• 32:52
  from
• 32:52
  you.
• 32:53
  Where
• 32:53
  do
• 32:53
  you
• 32:54
  think,
• 32:54
  especially
• 32:54
  with
• 32:55
  AI
• 32:55
  being
• 32:56
  involved
• 32:56
  in
• 32:56
  retail
• 32:56
  pricing,
• 32:57
  what
• 32:57
  innovations
• 32:58
  can
• 32:58
  retailers
• 32:59
  expect
• 33:00
  here?
• 33:00
  And
• 33:01
  especially
• 33:01
  what
• 33:02
  are
• 33:02
  you
• 33:02
  thinking
• 33:02
  about
• 33:03
  as
• 33:03
  Revionics?
• 33:04
  Like,
• 33:04
  where
• 33:04
  are
• 33:04
  you
• 33:04
  investing
• 33:05
  time
• 33:05
  and
• 33:06
  where
• 33:06
  do
• 33:06
  you
• 33:06
  think
• 33:06
  things
• 33:06
  will
• 33:06
  be
• 33:07
  going?
• 33:07
  Yeah,
• 33:08
  definitely.
• 33:09
  So
• 33:09
  one
• 33:09
  of
• 33:09
  the
• 33:09
  things
• 33:10
  we're
• 33:10
  going
• 33:10
  to
• 33:10
  see
• 33:10
  is
• 33:10
  just
• 33:11
  more
• 33:11
  electronic
• 33:11
  shelf
• 33:12
  labels.
• 33:13
  So
• 33:13
  that
• 33:13
  kind
• 33:13
  of
• 33:14
  lives
• 33:14
  outside
• 33:14
  of
• 33:14
  Revionics.
• 33:15
  But
• 33:15
  it's
• 33:15
  very
• 33:15
  core
• 33:16
  to
• 33:16
  pricing.
• 33:16
  As
• 33:17
  processes
• 33:17
  are
• 33:17
  speeding
• 33:18
  up,
• 33:18
  pricing
• 33:19
  is
• 33:19
  becoming
• 33:19
  more
• 33:19
  dynamic.
• 33:20
  Consumers
• 33:20
  are
• 33:20
  moving
• 33:21
  fast,
• 33:22
  competitors
• 33:23
  are
• 33:23
  moving
• 33:23
  fast.
• 33:23
  Right.
• 33:24
  The
• 33:24
  ability
• 33:24
  to
• 33:24
  have
• 33:25
  the,
• 33:25
  you
• 33:25
  know,
• 33:25
  change
• 33:26
  sides
• 33:26
  really
• 33:26
  quickly
• 33:27
  so
• 33:27
  you
• 33:27
  don't
• 33:27
  run
• 33:27
  into
• 33:27
  the
• 33:28
  issue
• 33:28
  that
• 33:28
  Chris
• 33:28
  talked
• 33:28
  about
• 33:29
  at
• 33:29
  the
• 33:29
  beginning.
• 33:29
  Beginning
• 33:29
  where
• 33:29
  a
• 33:30
  tag
• 33:30
  falls
• 33:30
  on
• 33:30
  the
• 33:30
  floor
• 33:31
  too.
• 33:31
  Right.
• 33:32
  It's
• 33:32
  going
• 33:32
  to
• 33:32
  be
• 33:33
  critical.
• 33:33
  And
• 33:33
  the
• 33:33
  second
• 33:34
  Walmart
• 33:34
  and
• 33:34
  Loblaws
• 33:35
  moved,
• 33:35
  I
• 33:35
  mean,
• 33:35
  it
• 33:36
  used
• 33:36
  to
• 33:36
  be
• 33:36
  this
• 33:36
  thing
• 33:36
  that
• 33:36
  happened
• 33:37
  in
• 33:37
  Europe
• 33:37
  and
• 33:37
  North
• 33:38
  America
• 33:38
  was
• 33:38
  kind
• 33:38
  of
• 33:38
  flirting
• 33:39
  with
• 33:39
  ESLs
• 33:40
  for
• 33:40
  a
• 33:40
  long
• 33:40
  time.
• 33:40
  No,
• 33:40
  it's
• 33:41
  coming.
• 33:41
  It's
• 33:41
  real.
• 33:41
  The
• 33:42
  biggest
• 33:42
  retailers
• 33:42
  in
• 33:43
  North
• 33:43
  America
• 33:43
  are
• 33:43
  doing
• 33:44
  it.
• 33:44
  So
• 33:44
  this
• 33:45
  is,
• 33:45
  this
• 33:45
  is
• 33:45
  happening.
• 33:46
  Right.
• 33:46
  And
• 33:46
  that's
• 33:46
  great
• 33:47
  from
• 33:47
  a
• 33:47
  price
• 33:47
  optimization
• 33:48
  perspective,
• 33:48
  because
• 33:49
  now
• 33:49
  you
• 33:49
  have
• 33:50
  more
• 33:50
  power
• 33:50
  to
• 33:50
  do
• 33:50
  a
• 33:50
  lot
• 33:51
  of
• 33:51
  things,
• 33:51
  even
• 33:51
  markdowns.
• 33:52
  You
• 33:52
  don't
• 33:52
  have
• 33:52
  to
• 33:52
  take
• 33:52
  only
• 33:52
  2
• 33:53
  or
• 33:53
  3
• 33:53
  marks.
• 33:53
  You
• 33:53
  can
• 33:53
  take
• 33:54
  as
• 33:54
  many
• 33:54
  as
• 33:54
  you
• 33:54
  need
• 33:54
  because
• 33:54
  it's
• 33:55
  going
• 33:55
  down
• 33:55
  every
• 33:55
  time.
• 33:55
  The
• 33:56
  customers
• 33:56
  love
• 33:56
  it.
• 33:57
  You
• 33:57
  can
• 33:57
  be
• 33:57
  more
• 33:57
  strategic,
• 33:58
  more
• 33:58
  analytical.
• 33:59
  What
• 33:59
  we're
• 33:59
  excited
• 34:00
  about
• 34:00
  at
• 34:00
  Revionics
• 34:01
  is
• 34:02
  the
• 34:02
  direction
• 34:02
  of
• 34:02
  AI.
• 34:03
  Right.
• 34:03
  So
• 34:03
  we've
• 34:03
  had
• 34:03
  fantastic
• 34:04
  facing
• 34:04
  AI
• 34:05
  for
• 34:05
  21
• 34:05
  years.
• 34:07
  And,
• 34:07
  you
• 34:07
  know,
• 34:07
  that's
• 34:08
  proven.
• 34:08
  It
• 34:08
  works.
• 34:08
  Gartner
• 34:09
  loves
• 34:09
  it.
• 34:09
  Right.
• 34:10
  We've
• 34:10
  talked
• 34:10
  about
• 34:10
  that,
• 34:11
  but
• 34:11
  now
• 34:11
  we've,
• 34:11
  we've
• 34:12
  layered
• 34:12
  in
• 34:12
  gen
• 34:12
  AI
• 34:13
  and
• 34:13
  Gen
• 34:13
  AI
• 34:14
  enables
• 34:15
  retailers
• 34:15
  to
• 34:15
  talk
• 34:16
  to
• 34:16
  their
• 34:16
  data.
• 34:16
  So
• 34:17
  you
• 34:17
  can
• 34:17
  really
• 34:17
  quickly
• 34:18
  type
• 34:18
  in
• 34:18
  a
• 34:18
  question
• 34:18
  that
• 34:19
  says
• 34:19
  you
• 34:19
  know,
• 34:20
  which
• 34:20
  of
• 34:20
  my
• 34:20
  competitors
• 34:21
  follow
• 34:21
  me
• 34:22
  down
• 34:22
  when
• 34:22
  I
• 34:22
  change
• 34:23
  my
• 34:23
  prices
• 34:23
  in
• 34:23
  the
• 34:24
  past
• 34:24
  six
• 34:24
  months.
• 34:25
  Right.
• 34:25
  You
• 34:25
  can.
• 34:26
  And
• 34:26
  I'll
• 34:26
  really
• 34:26
  quickly
• 34:27
  give
• 34:27
  you
• 34:27
  that
• 34:27
  answer.
• 34:28
  You
• 34:28
  can.
• 34:28
  You
• 34:28
  can
• 34:28
  ask
• 34:28
  any
• 34:29
  question,
• 34:29
  which
• 34:29
  stores
• 34:30
  have
• 34:30
  the
• 34:30
  highest
• 34:31
  price
• 34:31
  gap
• 34:31
  versus
• 34:31
  the
• 34:32
  competitors?
• 34:32
  You
• 34:32
  know,
• 34:33
  type
• 34:33
  it
• 34:33
  in,
• 34:33
  boom,
• 34:33
  get
• 34:34
  a
• 34:34
  quick
• 34:34
  answer.
• 34:35
  And
• 34:35
  that's
• 34:35
  that
• 34:35
  conversational
• 34:36
  analytics
• 34:37
  piece
• 34:37
  where
• 34:37
  Jenny
• 34:38
  is
• 34:38
  working
• 34:38
  with
• 34:38
  pricing
• 34:39
  AI
• 34:39
  to
• 34:39
  really
• 34:40
  become,
• 34:40
  like
• 34:40
  a
• 34:41
  smart
• 34:41
  assistant
• 34:42
  to
• 34:42
  your
• 34:42
  merchants
• 34:43
  and
• 34:43
  your
• 34:43
  pricing
• 34:43
  team.
• 34:44
  But
• 34:44
  now
• 34:44
  we're
• 34:45
  moving
• 34:45
  into
• 34:45
  this
• 34:46
  beautiful
• 34:46
  space
• 34:46
  of
• 34:47
  agentic
• 34:47
  AI,
• 34:48
  which
• 34:48
  is
• 34:48
  even
• 34:48
  better.
• 34:49
  Now
• 34:49
  you
• 34:50
  can
• 34:50
  literally
• 34:51
  work
• 34:51
  with
• 34:51
  your
• 34:51
  AI,
• 34:52
  and
• 34:52
  your
• 34:52
  AI
• 34:52
  will
• 34:52
  be
• 34:53
  solving
• 34:53
  problems
• 34:53
  for
• 34:53
  you
• 34:54
  in
• 34:54
  real
• 34:54
  time
• 34:54
  while
• 34:54
  you're
• 34:54
  asking
• 34:55
  questions
• 34:55
  to
• 34:55
  it.
• 34:56
  So
• 34:56
  it's
• 34:56
  not
• 34:56
  just
• 34:57
  giving
• 34:57
  you
• 34:57
  the
• 34:57
  information,
• 34:58
  it's
• 34:58
  solving
• 34:58
  the
• 34:59
  problem.
• 34:59
  Right.
• 34:59
  The
• 34:59
  librarian
• 35:00
  now
• 35:00
  knows
• 35:00
  the
• 35:00
  answer
• 35:01
  and
• 35:01
  has
• 35:01
  read
• 35:01
  every
• 35:02
  book.
• 35:02
  Right.
• 35:03
  So
• 35:03
  this
• 35:03
  is.
• 35:03
  This
• 35:03
  is
• 35:04
  fantastic
• 35:04
  stuff.
• 35:05
  Wow.
• 35:06
  We'll
• 35:07
  have
• 35:07
  to
• 35:07
  have
• 35:07
  you
• 35:07
  back,
• 35:07
  Matt,
• 35:07
  to
• 35:08
  talk
• 35:08
  about
• 35:08
  agentic
• 35:09
  AI
• 35:09
  and
• 35:09
  what
• 35:09
  that
• 35:10
  means
• 35:10
  for
• 35:10
  pricing
• 35:11
  at
• 35:11
  a
• 35:11
  future
• 35:12
  time,
• 35:12
  because
• 35:12
  that's.
• 35:12
  That's
• 35:13
  a
• 35:13
  whole
• 35:13
  nother
• 35:13
  topic
• 35:14
  that
• 35:14
  I
• 35:14
  think
• 35:14
  we're
• 35:14
  just
• 35:14
  starting
• 35:15
  to
• 35:15
  scratch
• 35:15
  the
• 35:15
  surface
• 35:16
  of.
• 35:16
  And.
• 35:17
  Yeah,
• 35:17
  man,
• 35:17
  man,
• 35:18
  this
• 35:18
  has
• 35:18
  been
• 35:19
  amazing.
• 35:19
  I.
• 35:20
  I
• 35:20
  have
• 35:20
  been
• 35:20
  loving
• 35:21
  this.
• 35:21
  I've
• 35:21
  been.
• 35:21
  You've
• 35:22
  been
• 35:22
  putting
• 35:23
  pricing
• 35:23
  in
• 35:23
  a
• 35:23
  whole
• 35:24
  nother
• 35:24
  light
• 35:24
  for
• 35:24
  me,
• 35:24
  which
• 35:25
  I,
• 35:25
  in
• 35:25
  many
• 35:25
  ways
• 35:25
  that
• 35:26
  I
• 35:26
  personally
• 35:26
  have
• 35:26
  never
• 35:27
  thought
• 35:27
  of.
• 35:27
  So
• 35:27
  thank
• 35:27
  you
• 35:28
  so
• 35:28
  much.
• 35:28
  And
• 35:29
  if
• 35:29
  people
• 35:29
  want
• 35:29
  to
• 35:29
  get
• 35:29
  in
• 35:30
  touch
• 35:30
  with
• 35:30
  you,
• 35:31
  learn
• 35:31
  more
• 35:31
  about
• 35:32
  what
• 35:32
  is
• 35:32
  you
• 35:32
  do,
• 35:32
  learn
• 35:33
  more
• 35:33
  about
• 35:33
  Revionics,
• 35:34
  what's
• 35:34
  the
• 35:34
  best
• 35:34
  way
• 35:34
  for
• 35:34
  them
• 35:34
  to
• 35:35
  do
• 35:35
  that?
• 35:35
  Yeah,
• 35:36
  Visit
• 35:36
  me
• 35:36
  on
• 35:36
  LinkedIn.
• 35:37
  You
• 35:38
  know,
• 35:38
  Matt
• 35:38
  Pavage
• 35:39
  or
• 35:39
  M.
• 35:39
  Pavage
• 35:40
  at
• 35:40
  Revionics,
• 35:40
  but
• 35:41
  honestly,
• 35:41
  just
• 35:41
  come
• 35:42
  Visit
• 35:42
  us@revionics.com
• 35:44
  A
• 35:44
  lot
• 35:44
  of
• 35:44
  great
• 35:44
  content
• 35:45
  on
• 35:45
  pricing,
• 35:45
  a
• 35:46
  lot
• 35:46
  of
• 35:46
  best
• 35:46
  practices
• 35:47
  there,
• 35:48
  you
• 35:48
  know,
• 35:48
  and
• 35:48
  definitely
• 35:49
  reach
• 35:49
  out.
• 35:49
  I
• 35:49
  mean,
• 35:49
  pricing's
• 35:50
  an
• 35:50
  amazing
• 35:50
  place.
• 35:51
  It's
• 35:51
  where
• 35:51
  you
• 35:51
  want
• 35:51
  to
• 35:51
  be
• 35:51
  right
• 35:52
  now.
• 35:52
  You
• 35:52
  know,
• 35:52
  consumers
• 35:53
  care
• 35:53
  about
• 35:53
  it.
• 35:54
  Tariffs
• 35:54
  are
• 35:54
  coming.
• 35:55
  A
• 35:55
  lot
• 35:55
  is
• 35:55
  happening.
• 35:56
  Right.
• 35:56
  You
• 35:57
  have
• 35:57
  to
• 35:57
  have
• 35:57
  good
• 35:57
  prices
• 35:58
  in
• 35:58
  the
• 35:58
  market.
• 35:58
  And,
• 35:58
  you
• 35:58
  know,
• 35:59
  Revionics
• 35:59
  can
• 35:59
  help
• 36:00
  you
• 36:00
  with
• 36:00
  that
• 36:00
  so
• 36:02
  well.
• 36:02
  And
• 36:02
  that,
• 36:03
  I
• 36:03
  think.
• 36:03
  And
• 36:03
  that
• 36:03
  wraps
• 36:04
  us
• 36:04
  up.
• 36:04
  Yeah,
• 36:04
  well
• 36:05
  done,
• 36:05
  man.
• 36:05
  Thanks.
• 36:06
  Yeah,
• 36:06
  thanks
• 36:06
  to
• 36:06
  the
• 36:06
  big
• 36:07
  brain
• 36:07
  on
• 36:07
  bread
• 36:07
  on
• 36:08
  pricing,
• 36:08
  Matt
• 36:08
  Pavich,
• 36:09
  senior
• 36:09
  Director
• 36:10
  of
• 36:10
  Strategy
• 36:10
  and
• 36:10
  Innovation
• 36:11
  at
• 36:11
  Revionics,
• 36:11
  for
• 36:12
  sitting
• 36:12
  down
• 36:12
  with
• 36:12
  us
• 36:12
  and
• 36:12
  taking
• 36:13
  the
• 36:13
  time
• 36:13
  to
• 36:14
  enlighten
• 36:14
  us
• 36:14
  today
• 36:15
  about
• 36:15
  where
• 36:15
  the
• 36:15
  future
• 36:16
  is
• 36:16
  going
• 36:16
  around
• 36:16
  this
• 36:17
  topic.
• 36:17
  Thanks
• 36:17
  to
• 36:18
  all
• 36:18
  of
• 36:18
  you
• 36:18
  that
• 36:18
  watch
• 36:18
  us
• 36:19
  live
• 36:19
  on
• 36:19
  LinkedIn
• 36:20
  and
• 36:20
  of
• 36:20
  course,
• 36:20
  to
• 36:20
  those
• 36:21
  that
• 36:21
  are
• 36:21
  listening
• 36:22
  in
• 36:22
  and
• 36:22
  watching
• 36:23
  at
• 36:23
  a
• 36:23
  later
• 36:23
  date.
• 36:24
  And.
• 36:24
  And
• 36:24
  on
• 36:24
  behalf
• 36:25
  of
• 36:25
  all
• 36:25
  of
• 36:25
  us
• 36:25
  here
• 36:25
  at
• 36:26
  omnitalk,
• 36:26
  as
• 36:26
  always,
• 36:27
  be
• 36:27
  careful
• 36:28
  out.