Latest / Omni Talk Retail / Costco’s Mark Williamson on Building Retail Media the Costco Way | NRF 2026

Transcript

Costco’s Mark Williamson on Building Retail Media the Costco Way | NRF 2026 · Omni Talk Retail

• 0:00
  Hello,
• 0:00
  everyone.
• 0:01
  This
• 0:01
  is
• 0:01
  Omnitalk
• 0:02
  Retail.
• 0:02
  I'm
• 0:02
  Chris
• 0:02
  Walton
• 0:03
  and
• 0:03
  I'm
• 0:03
  an
• 0:03
  mazinga.
• 0:04
  And
• 0:04
  we
• 0:04
  are
• 0:04
  coming
• 0:04
  to
• 0:04
  you
• 0:05
  live
• 0:05
  from
• 0:05
  day
• 0:05
  three
• 0:06
  of
• 0:06
  NRF
• 0:07
  2026
• 0:08
  in
• 0:08
  New
• 0:08
  York
• 0:09
  City.
• 0:10
  And
• 0:10
  we,
• 0:10
  of
• 0:10
  course,
• 0:11
  are
• 0:11
  coming
• 0:11
  to
• 0:11
  you
• 0:11
  from
• 0:12
  Vuzion's
• 0:13
  very
• 0:13
  own
• 0:13
  podcast
• 0:14
  studio,
• 0:14
  which
• 0:14
  you
• 0:15
  can
• 0:15
  find
• 0:15
  in
• 0:15
  booth
• 0:15
  4921.
• 0:17
  If
• 0:17
  you
• 0:17
  want
• 0:17
  to
• 0:17
  see
• 0:17
  all
• 0:17
  the
• 0:17
  great
• 0:18
  technology
• 0:18
  Vusion
• 0:18
  has
• 0:18
  on
• 0:19
  display,
• 0:19
  come
• 0:19
  by,
• 0:19
  check
• 0:20
  it
• 0:20
  out.
• 0:20
  And
• 0:20
  we'll
• 0:20
  still
• 0:21
  be
• 0:21
  here
• 0:21
  for
• 0:21
  another
• 0:21
  few
• 0:21
  hours
• 0:22
  if
• 0:22
  you
• 0:22
  want
• 0:22
  to
• 0:22
  come
• 0:22
  by
• 0:22
  and
• 0:23
  say
• 0:23
  hello
• 0:23
  to
• 0:23
  us
• 0:24
  as
• 0:24
  well.
• 0:24
  We
• 0:24
  always
• 0:24
  love
• 0:25
  when
• 0:25
  people
• 0:25
  do
• 0:25
  that.
• 0:26
  All
• 0:26
  right,
• 0:26
  and
• 0:26
  without
• 0:26
  further
• 0:27
  ado,
• 0:27
  I
• 0:27
  want
• 0:28
  to
• 0:28
  introduce
• 0:28
  Mark
• 0:28
  Williamson.
• 0:29
  Mark
• 0:29
  was
• 0:30
  with
• 0:30
  us
• 0:30
  last
• 0:30
  year,
• 0:31
  and
• 0:31
  for
• 0:31
  those
• 0:32
  of
• 0:32
  you
• 0:32
  that
• 0:32
  may
• 0:32
  remember,
• 0:33
  Mark
• 0:33
  is
• 0:33
  the
• 0:33
  AVP
• 0:34
  of
• 0:34
  retail
• 0:35
  media
• 0:35
  at
• 0:36
  Costco.
• 0:36
  So,
• 0:37
  Mark,
• 0:37
  welcome
• 0:38
  back
• 0:38
  to
• 0:38
  omnitalk.
• 0:39
  Hey,
• 0:39
  thanks
• 0:39
  for
• 0:39
  having
• 0:39
  me
• 0:39
  again.
• 0:39
  Can't
• 0:40
  believe
• 0:40
  it
• 0:40
  happened.
• 0:40
  Well,
• 0:41
  Mark,
• 0:42
  Chris
• 0:42
  just
• 0:42
  said
• 0:42
  before
• 0:43
  we
• 0:43
  started,
• 0:43
  you
• 0:44
  were
• 0:44
  one
• 0:44
  of
• 0:44
  our
• 0:45
  favorite
• 0:45
  interviews
• 0:46
  from
• 0:46
  last
• 0:46
  year
• 0:46
  at
• 0:47
  nrf,
• 0:47
  so
• 0:47
  we're
• 0:47
  really
• 0:48
  excited
• 0:48
  to
• 0:48
  catch
• 0:48
  up
• 0:48
  with
• 0:48
  you.
• 0:49
  But
• 0:49
  for
• 0:50
  those
• 0:50
  who
• 0:50
  might
• 0:50
  be
• 0:50
  meeting
• 0:50
  you
• 0:51
  for
• 0:51
  the
• 0:51
  first
• 0:51
  time
• 0:51
  right
• 0:52
  now,
• 0:52
  tell
• 0:52
  us
• 0:52
  a
• 0:53
  little
• 0:53
  bit
• 0:53
  about
• 0:53
  what
• 0:53
  you
• 0:54
  oversee
• 0:55
  in
• 0:55
  your
• 0:55
  role
• 0:56
  and
• 0:56
  a
• 0:56
  little
• 0:56
  bit
• 0:57
  of
• 0:57
  your
• 0:57
  background,
• 0:58
  if
• 0:58
  you'd
• 0:58
  like.
• 0:58
  Sure.
• 0:59
  So
• 1:00
  I.
• 1:00
  I've
• 1:00
  been
• 1:00
  with
• 1:01
  Costco
• 1:01
  for
• 1:01
  a
• 1:01
  little
• 1:01
  over
• 1:02
  two
• 1:02
  years,
• 1:02
  and
• 1:03
  I'm
• 1:03
  responsible
• 1:03
  for
• 1:04
  our
• 1:04
  retail
• 1:04
  media
• 1:04
  business,
• 1:05
  which
• 1:05
  is
• 1:06
  new,
• 1:06
  but
• 1:06
  not
• 1:07
  new.
• 1:07
  And
• 1:08
  really
• 1:09
  the
• 1:09
  idea
• 1:09
  here
• 1:09
  is
• 1:10
  to
• 1:10
  figure
• 1:10
  out
• 1:10
  how
• 1:11
  to
• 1:11
  bring
• 1:11
  the
• 1:11
  best
• 1:12
  of
• 1:12
  the
• 1:12
  retail
• 1:13
  media
• 1:13
  industry,
• 1:13
  the
• 1:14
  things
• 1:14
  that
• 1:14
  advertisers,
• 1:15
  brands
• 1:15
  are
• 1:16
  most
• 1:16
  excited
• 1:17
  about
• 1:17
  doing
• 1:17
  with
• 1:17
  retailers,
• 1:18
  and
• 1:19
  figuring
• 1:19
  out
• 1:19
  a
• 1:19
  way
• 1:19
  to
• 1:19
  do
• 1:19
  it
• 1:19
  in
• 1:20
  the
• 1:20
  Costco
• 1:20
  way.
• 1:20
  Excellent.
• 1:21
  So
• 1:22
  which
• 1:22
  is
• 1:22
  easier
• 1:23
  said
• 1:23
  than
• 1:23
  done.
• 1:23
  Something
• 1:24
  we're
• 1:24
  still
• 1:24
  very
• 1:24
  excited
• 1:24
  about.
• 1:25
  Yeah.
• 1:26
  Before
• 1:27
  that,
• 1:27
  I
• 1:27
  spent
• 1:28
  six
• 1:28
  years
• 1:28
  at
• 1:28
  Sam's
• 1:29
  Club,
• 1:29
  six
• 1:30
  years
• 1:30
  at
• 1:30
  AJO
• 1:30
  delhez
• 1:31
  doing
• 1:31
  shopper
• 1:32
  marketing,
• 1:32
  retail
• 1:32
  media,
• 1:33
  building
• 1:33
  those
• 1:33
  businesses
• 1:34
  there,
• 1:35
  and
• 1:35
  then
• 1:35
  spent
• 1:36
  some
• 1:36
  time
• 1:36
  within
• 1:37
  Epsilon
• 1:37
  and
• 1:38
  Citrus
• 1:38
  Ad
• 1:39
  supporting
• 1:39
  retailers
• 1:40
  in
• 1:40
  their
• 1:40
  ambitions
• 1:40
  to
• 1:40
  set
• 1:40
  up
• 1:41
  retail
• 1:41
  media
• 1:41
  networks.
• 1:42
  So
• 1:42
  it's
• 1:42
  in
• 1:42
  your
• 1:42
  blood.
• 1:42
  You've
• 1:43
  been
• 1:43
  doing
• 1:43
  it
• 1:43
  on
• 1:43
  all
• 1:44
  sides
• 1:44
  of
• 1:44
  the
• 1:44
  business
• 1:44
  for
• 1:45
  the
• 1:45
  last
• 1:46
  several
• 1:46
  years.
• 1:47
  Yeah.
• 1:47
  So
• 1:47
  I
• 1:48
  inadvertently
• 1:48
  backed
• 1:49
  into
• 1:49
  this
• 1:49
  industry.
• 1:50
  I'm
• 1:51
  very
• 1:51
  happy
• 1:51
  I
• 1:51
  did.
• 1:51
  I
• 1:51
  feel
• 1:52
  very
• 1:52
  fortunate
• 1:52
  to
• 1:52
  have
• 1:53
  been
• 1:53
  able
• 1:53
  to
• 1:53
  do
• 1:53
  it
• 1:53
  especially
• 1:54
  closer
• 1:54
  toward
• 1:55
  the
• 1:55
  beginning.
• 1:55
  Right.
• 1:56
  So
• 1:56
  I
• 1:56
  think
• 1:56
  I
• 1:56
  get
• 1:56
  to
• 1:56
  wear
• 1:57
  the
• 1:57
  tie
• 1:57
  title
• 1:57
  of
• 1:58
  og
• 1:59
  which
• 1:59
  is.
• 1:59
  Which
• 1:59
  is
• 1:59
  great.
• 2:00
  And
• 2:00
  it's.
• 2:00
  Once
• 2:00
  it
• 2:01
  gets
• 2:01
  boring,
• 2:01
  I'll
• 2:01
  stop.
• 2:01
  I'll
• 2:02
  find
• 2:02
  something
• 2:02
  else.
• 2:02
  Yeah,
• 2:03
  it's
• 2:03
  been
• 2:03
  great.
• 2:03
  Retail
• 2:04
  never
• 2:04
  gets
• 2:04
  boring.
• 2:04
  Yeah.
• 2:05
  I
• 2:05
  think
• 2:05
  there's
• 2:05
  a
• 2:05
  lot
• 2:05
  of
• 2:05
  people
• 2:05
  in
• 2:05
  the
• 2:06
  industry
• 2:06
  that
• 2:06
  could
• 2:06
  say
• 2:06
  that.
• 2:06
  That
• 2:07
  they
• 2:07
  kind
• 2:07
  of
• 2:07
  backed
• 2:07
  into
• 2:07
  it
• 2:07
  and
• 2:08
  then
• 2:08
  fell
• 2:08
  in
• 2:08
  love
• 2:08
  with
• 2:08
  it
• 2:08
  too.
• 2:09
  There's
• 2:09
  no
• 2:10
  major
• 2:10
  for
• 2:10
  retail
• 2:10
  media,
• 2:11
  or
• 2:11
  at
• 2:11
  least
• 2:11
  there
• 2:11
  wasn't
• 2:11
  at
• 2:12
  the
• 2:12
  time.
• 2:12
  Right.
• 2:12
  Like,
• 2:12
  there's,
• 2:13
  like,
• 2:13
  it's,
• 2:14
  it's.
• 2:14
  And
• 2:14
  it
• 2:14
  kind
• 2:14
  of
• 2:14
  been.
• 2:15
  It's
• 2:15
  been
• 2:15
  inventing
• 2:16
  itself.
• 2:16
  Yeah.
• 2:16
  As
• 2:16
  we
• 2:16
  go.
• 2:17
  It's
• 2:17
  always
• 2:17
  changing.
• 2:17
  Yeah.
• 2:18
  There's
• 2:18
  some
• 2:18
  things
• 2:18
  in
• 2:18
  retail
• 2:19
  that
• 2:19
  don't
• 2:19
  change
• 2:19
  operations
• 2:20
  and
• 2:20
  merchandising,
• 2:21
  but
• 2:21
  the
• 2:21
  technology
• 2:22
  around
• 2:22
  it
• 2:22
  changes,
• 2:23
  consumer
• 2:23
  behavior
• 2:24
  changes
• 2:25
  and
• 2:25
  their
• 2:25
  expectations
• 2:26
  change.
• 2:26
  And
• 2:26
  retail
• 2:27
  media
• 2:27
  is
• 2:27
  really
• 2:27
  right
• 2:28
  at
• 2:28
  that
• 2:28
  intersection
• 2:29
  of
• 2:29
  what's
• 2:29
  great
• 2:30
  about
• 2:30
  retail,
• 2:30
  what
• 2:30
  matters
• 2:31
  most
• 2:31
  in
• 2:31
  terms
• 2:31
  of
• 2:32
  selling
• 2:32
  more
• 2:32
  items,
• 2:33
  and
• 2:34
  a
• 2:34
  lot
• 2:34
  of
• 2:34
  the
• 2:34
  new
• 2:34
  innovation
• 2:35
  that's
• 2:35
  out
• 2:35
  there.
• 2:36
  We're
• 2:36
  not
• 2:36
  bored.
• 2:36
  Yeah.
• 2:37
  All
• 2:37
  right,
• 2:37
  so
• 2:38
  like
• 2:38
  Ant
• 2:38
  said,
• 2:38
  we
• 2:38
  had
• 2:38
  you
• 2:39
  on
• 2:39
  last
• 2:39
  year,
• 2:39
  so
• 2:40
  I'm
• 2:40
  curious,
• 2:40
  going
• 2:40
  to
• 2:40
  put
• 2:40
  you
• 2:40
  on
• 2:41
  the
• 2:41
  spot
• 2:41
  to
• 2:41
  start
• 2:41
  out,
• 2:42
  how
• 2:42
  is
• 2:42
  retail
• 2:43
  media
• 2:43
  at
• 2:43
  Costco
• 2:44
  different
• 2:45
  as
• 2:45
  we
• 2:45
  start
• 2:45
  2026
• 2:46
  than
• 2:46
  it
• 2:46
  was
• 2:46
  when
• 2:47
  we
• 2:47
  saw
• 2:47
  you
• 2:47
  last
• 2:47
  year
• 2:48
  at
• 2:48
  the
• 2:48
  early
• 2:48
  part
• 2:48
  of
• 2:48
  2025?
• 2:50
  A
• 2:50
  few
• 2:50
  more
• 2:51
  gray
• 2:51
  hairs,
• 2:52
  which
• 2:52
  is.
• 2:53
  I'll
• 2:53
  still
• 2:54
  have
• 2:54
  your
• 2:54
  hair.
• 2:55
  I
• 2:55
  was
• 2:55
  like,
• 2:55
  if
• 2:56
  I
• 2:56
  got
• 2:56
  to
• 2:56
  pick
• 2:56
  one
• 2:56
  or
• 2:56
  the
• 2:56
  other.
• 2:57
  Yeah,
• 2:57
  right.
• 2:57
  The
• 2:58
  color
• 2:58
  change.
• 2:59
  You
• 2:59
  know,
• 2:59
  a
• 2:59
  lot
• 2:59
  of
• 3:00
  the
• 3:00
  team
• 3:00
  has
• 3:00
  grown,
• 3:00
  and
• 3:01
  so
• 3:01
  we've
• 3:01
  made
• 3:02
  a
• 3:02
  lot
• 3:02
  of.
• 3:02
  A
• 3:02
  lot
• 3:03
  of
• 3:03
  investments
• 3:03
  in
• 3:03
  people,
• 3:04
  and
• 3:04
  really,
• 3:04
  it's
• 3:05
  a
• 3:05
  recognition
• 3:05
  of
• 3:05
  the.
• 3:06
  Of
• 3:06
  what
• 3:06
  it
• 3:06
  takes
• 3:06
  takes
• 3:07
  to
• 3:07
  succeed.
• 3:07
  And
• 3:08
  we've
• 3:08
  been
• 3:08
  very
• 3:08
  thoughtful
• 3:09
  about
• 3:09
  how
• 3:09
  that
• 3:10
  team
• 3:10
  is
• 3:10
  constructed.
• 3:10
  Most
• 3:10
  of
• 3:11
  them
• 3:11
  are
• 3:11
  Costco
• 3:11
  lifers.
• 3:12
  They.
• 3:13
  A
• 3:13
  lot
• 3:13
  of
• 3:13
  them
• 3:13
  started
• 3:13
  in
• 3:13
  the
• 3:13
  warehouse,
• 3:14
  they've
• 3:14
  been
• 3:14
  in
• 3:15
  merchandising,
• 3:15
  they've
• 3:15
  been
• 3:15
  in
• 3:16
  E
• 3:16
  Commerce,
• 3:17
  and
• 3:17
  some
• 3:18
  of
• 3:18
  them
• 3:18
  came
• 3:18
  straight
• 3:18
  from
• 3:19
  the
• 3:19
  warehouse.
• 3:19
  We've
• 3:19
  taken
• 3:19
  some
• 3:20
  off
• 3:20
  the
• 3:20
  front
• 3:20
  end
• 3:20
  who
• 3:20
  were
• 3:21
  front
• 3:21
  end
• 3:22
  supervisors.
• 3:22
  And
• 3:22
  so
• 3:22
  they
• 3:23
  have
• 3:23
  this
• 3:23
  intimate
• 3:24
  knowledge
• 3:25
  of
• 3:25
  what
• 3:25
  makes
• 3:25
  Costco
• 3:26
  great.
• 3:26
  They
• 3:26
  live
• 3:26
  the
• 3:26
  brand.
• 3:27
  They
• 3:27
  are
• 3:27
  the
• 3:27
  brand.
• 3:28
  And
• 3:28
  so
• 3:29
  we
• 3:29
  want
• 3:29
  to
• 3:29
  make
• 3:29
  sure
• 3:29
  that
• 3:29
  that
• 3:29
  DNA
• 3:31
  stays
• 3:31
  true
• 3:31
  within
• 3:32
  our
• 3:32
  retail
• 3:32
  media
• 3:32
  program,
• 3:33
  because
• 3:33
  we
• 3:33
  could
• 3:33
  go
• 3:33
  the
• 3:33
  opposite
• 3:34
  way.
• 3:34
  We
• 3:34
  could
• 3:34
  go
• 3:34
  all
• 3:35
  media.
• 3:36
  And
• 3:36
  trust
• 3:36
  me,
• 3:36
  it's
• 3:36
  tempting
• 3:37
  to
• 3:37
  go
• 3:38
  hire
• 3:38
  a
• 3:38
  bunch
• 3:38
  of,
• 3:39
  like,
• 3:39
  there
• 3:39
  are
• 3:39
  a
• 3:39
  lot
• 3:40
  of
• 3:40
  tenured,
• 3:40
  experienced,
• 3:42
  productive
• 3:42
  media
• 3:43
  people
• 3:43
  out
• 3:43
  there.
• 3:44
  And.
• 3:45
  But
• 3:45
  we
• 3:45
  said
• 3:45
  we're
• 3:46
  going
• 3:46
  to
• 3:46
  emphasize
• 3:46
  Costco
• 3:47
  first.
• 3:47
  And
• 3:48
  so
• 3:48
  we
• 3:48
  built
• 3:48
  out
• 3:48
  the
• 3:48
  team.
• 3:49
  Sales,
• 3:49
  account
• 3:50
  management,
• 3:50
  ad
• 3:50
  operations.
• 3:51
  We
• 3:51
  have
• 3:52
  a
• 3:52
  product
• 3:52
  team
• 3:52
  now,
• 3:52
  which
• 3:52
  is
• 3:53
  very
• 3:53
  exciting
• 3:53
  for
• 3:53
  us.
• 3:54
  And
• 3:55
  so,
• 3:55
  like,
• 3:55
  that's
• 3:55
  one
• 3:55
  of
• 3:55
  the
• 3:55
  biggest
• 3:56
  changes.
• 3:57
  We
• 3:58
  take
• 3:58
  up
• 3:58
  more
• 3:58
  space
• 3:58
  on
• 3:58
  the
• 3:58
  floor.
• 3:59
  More
• 3:59
  space
• 3:59
  on
• 3:59
  the
• 3:59
  floor,
• 3:59
  more
• 4:00
  space
• 4:00
  in
• 4:00
  the
• 4:00
  headquarters.
• 4:00
  I'm
• 4:01
  curious
• 4:01
  though,
• 4:01
  Mark,
• 4:01
  when
• 4:02
  you
• 4:02
  think
• 4:02
  about
• 4:02
  that,
• 4:02
  because
• 4:03
  that's
• 4:03
  a
• 4:03
  very
• 4:03
  unique
• 4:03
  approach.
• 4:04
  At
• 4:04
  least
• 4:04
  it
• 4:04
  sounds
• 4:04
  like
• 4:04
  it
• 4:05
  is
• 4:05
  to
• 4:05
  us,
• 4:07
  what
• 4:07
  do
• 4:07
  you
• 4:08
  do
• 4:08
  from
• 4:08
  a
• 4:08
  hire?
• 4:08
  Like,
• 4:09
  how
• 4:09
  do
• 4:09
  you
• 4:09
  screen
• 4:09
  for
• 4:09
  hiring?
• 4:10
  What
• 4:10
  types
• 4:10
  of
• 4:10
  things
• 4:10
  are
• 4:11
  you
• 4:11
  looking
• 4:11
  for?
• 4:11
  Because
• 4:11
  you
• 4:12
  mentioned
• 4:12
  it
• 4:12
  sounds
• 4:12
  like
• 4:13
  you're
• 4:13
  very
• 4:14
  much
• 4:14
  looking
• 4:14
  for
• 4:14
  Costco
• 4:15
  ish
• 4:15
  stuff.
• 4:16
  But
• 4:16
  what
• 4:16
  is
• 4:16
  that
• 4:17
  Costco
• 4:17
  ish
• 4:18
  idea?
• 4:19
  That's
• 4:19
  a
• 4:20
  great
• 4:20
  question.
• 4:21
  So
• 4:21
  it.
• 4:22
  And
• 4:22
  it's.
• 4:22
  I
• 4:22
  mean,
• 4:22
  there's
• 4:23
  a
• 4:23
  lot
• 4:23
  of.
• 4:23
  Costco
• 4:23
  has
• 4:23
  a
• 4:24
  lot
• 4:24
  of
• 4:24
  employees
• 4:24
  and
• 4:24
  a
• 4:24
  lot
• 4:24
  of
• 4:24
  them
• 4:25
  want
• 4:25
  to
• 4:25
  work,
• 4:25
  whether
• 4:25
  they're
• 4:26
  in
• 4:26
  the
• 4:26
  field,
• 4:26
  they
• 4:26
  want
• 4:27
  to
• 4:27
  work
• 4:27
  in
• 4:27
  corporate,
• 4:27
  or
• 4:27
  if
• 4:27
  they're
• 4:28
  in
• 4:28
  a
• 4:28
  corporate
• 4:28
  job.
• 4:29
  You
• 4:29
  know,
• 4:29
  retail
• 4:29
  media
• 4:30
  is
• 4:30
  kind
• 4:30
  of
• 4:30
  an
• 4:30
  interesting
• 4:31
  thing.
• 4:31
  The
• 4:31
  team
• 4:31
  is
• 4:32
  growing.
• 4:32
  There's,
• 4:32
  you
• 4:33
  know,
• 4:33
  you
• 4:33
  can
• 4:33
  kind
• 4:33
  of
• 4:33
  see
• 4:33
  this
• 4:34
  upside.
• 4:34
  It's
• 4:34
  a
• 4:34
  little
• 4:34
  bit
• 4:34
  of
• 4:34
  a
• 4:35
  startup,
• 4:35
  and
• 4:36
  so
• 4:36
  it
• 4:36
  can
• 4:36
  be
• 4:36
  exciting.
• 4:37
  And
• 4:37
  so
• 4:37
  we,
• 4:38
  like,
• 4:38
  I
• 4:38
  feel
• 4:38
  like
• 4:39
  our
• 4:39
  candidate
• 4:39
  pool
• 4:40
  is
• 4:40
  already
• 4:40
  biased
• 4:41
  because
• 4:41
  these
• 4:42
  are
• 4:42
  people
• 4:42
  who
• 4:42
  recognize
• 4:43
  I'm
• 4:43
  going
• 4:43
  to
• 4:44
  walk
• 4:44
  away
• 4:44
  from
• 4:44
  a
• 4:44
  very
• 4:45
  defined
• 4:45
  career
• 4:45
  path
• 4:46
  and
• 4:46
  take
• 4:46
  a
• 4:47
  flyer
• 4:47
  on
• 4:47
  this
• 4:47
  new
• 4:48
  team,
• 4:48
  this
• 4:48
  new
• 4:48
  leader,
• 4:49
  this
• 4:50
  new
• 4:50
  opportunity.
• 4:50
  And
• 4:51
  so,
• 4:51
  like,
• 4:51
  I'm
• 4:51
  getting,
• 4:52
  I'm
• 4:52
  getting
• 4:52
  candidates
• 4:53
  that
• 4:53
  are
• 4:53
  more
• 4:54
  entrepreneurial
• 4:55
  than
• 4:55
  not.
• 4:56
  And
• 4:56
  they're
• 4:56
  hungry,
• 4:57
  they're
• 4:57
  curious,
• 4:57
  they're
• 4:58
  opting
• 4:58
  in.
• 4:58
  Yeah.
• 4:58
  And
• 5:00
  they
• 5:00
  see
• 5:00
  something.
• 5:00
  They
• 5:01
  want
• 5:01
  to
• 5:01
  get
• 5:01
  on
• 5:01
  the
• 5:01
  ground
• 5:01
  floor.
• 5:02
  And
• 5:02
  we
• 5:02
  are,
• 5:02
  We're
• 5:03
  a
• 5:03
  business
• 5:03
  within
• 5:03
  a
• 5:03
  business.
• 5:04
  We're
• 5:04
  intrapreneurs
• 5:06
  as
• 5:06
  much
• 5:06
  as
• 5:06
  we
• 5:06
  can
• 5:07
  be.
• 5:07
  And
• 5:07
  so,
• 5:08
  you
• 5:08
  know,
• 5:09
  so
• 5:09
  a
• 5:10
  lot
• 5:10
  of.
• 5:10
  They
• 5:10
  have
• 5:10
  great
• 5:11
  institutionalized
• 5:12
  Costco
• 5:12
  knowledge,
• 5:13
  which
• 5:13
  is
• 5:13
  invaluable.
• 5:13
  They
• 5:14
  have
• 5:14
  a
• 5:14
  lot
• 5:14
  more
• 5:14
  than
• 5:14
  I
• 5:14
  do.
• 5:15
  And
• 5:16
  just
• 5:16
  some,
• 5:16
  like,
• 5:17
  I'm
• 5:17
  looking
• 5:17
  for
• 5:17
  people
• 5:17
  that
• 5:17
  are
• 5:18
  hungry
• 5:18
  to
• 5:18
  learn
• 5:18
  a
• 5:18
  new
• 5:19
  thing,
• 5:19
  that
• 5:19
  are
• 5:20
  curious,
• 5:20
  that
• 5:20
  are
• 5:21
  creative,
• 5:22
  that
• 5:22
  are
• 5:23
  problem
• 5:23
  solvers
• 5:24
  as
• 5:24
  much
• 5:24
  as
• 5:24
  they
• 5:24
  possibly
• 5:24
  can
• 5:25
  be
• 5:25
  and
• 5:25
  have
• 5:26
  a
• 5:26
  little
• 5:27
  bit
• 5:27
  of
• 5:27
  a.
• 5:27
  I
• 5:27
  want,
• 5:28
  like,
• 5:28
  I'm
• 5:28
  more
• 5:28
  irreverent
• 5:28
  than
• 5:29
  not.
• 5:29
  But
• 5:29
  they
• 5:29
  have
• 5:29
  this,
• 5:30
  they
• 5:30
  have
• 5:30
  this,
• 5:31
  this
• 5:31
  proclivity
• 5:32
  for
• 5:32
  disruption.
• 5:34
  Like,
• 5:34
  they're
• 5:34
  the
• 5:34
  ones
• 5:34
  who
• 5:34
  go
• 5:34
  and
• 5:35
  look
• 5:35
  at
• 5:35
  a
• 5:35
  process
• 5:35
  and
• 5:36
  say,
• 5:36
  like,
• 5:36
  why
• 5:36
  do
• 5:36
  we
• 5:36
  do
• 5:37
  it
• 5:37
  that
• 5:37
  way?
• 5:37
  Or
• 5:37
  could
• 5:37
  it
• 5:38
  be
• 5:38
  better?
• 5:38
  And
• 5:38
  not
• 5:39
  everybody
• 5:39
  is
• 5:39
  oriented
• 5:40
  that
• 5:40
  way
• 5:40
  because,
• 5:40
  like,
• 5:41
  you
• 5:41
  know,
• 5:41
  definitely
• 5:41
  not
• 5:42
  a
• 5:42
  lot
• 5:42
  of
• 5:42
  the
• 5:42
  conversations
• 5:43
  we
• 5:43
  have
• 5:43
  to
• 5:43
  have
• 5:43
  is,
• 5:45
  is,
• 5:46
  well,
• 5:46
  the
• 5:46
  merchant
• 5:46
  doesn't
• 5:47
  want
• 5:47
  to
• 5:47
  do
• 5:47
  it.
• 5:47
  Like,
• 5:47
  okay,
• 5:48
  well,
• 5:48
  merchants
• 5:48
  rule
• 5:48
  the
• 5:49
  world.
• 5:49
  We
• 5:49
  know
• 5:50
  that.
• 5:50
  However,
• 5:51
  it's
• 5:51
  our
• 5:52
  job
• 5:52
  to
• 5:52
  show
• 5:52
  them
• 5:53
  another
• 5:53
  way.
• 5:54
  And
• 5:54
  we,
• 5:54
  we
• 5:54
  do
• 5:55
  more
• 5:55
  selling
• 5:55
  internally
• 5:56
  than
• 5:56
  we
• 5:56
  do
• 5:56
  externally.
• 5:56
  So
• 5:57
  always
• 5:57
  looking
• 5:57
  for
• 5:57
  people
• 5:57
  that
• 5:58
  have
• 5:58
  that,
• 5:58
  that
• 5:59
  orientation.
• 5:59
  Mark,
• 6:00
  it's
• 6:00
  interesting
• 6:00
  to
• 6:00
  me,
• 6:01
  you
• 6:01
  know,
• 6:02
  some
• 6:02
  people
• 6:03
  who
• 6:03
  are
• 6:03
  running
• 6:04
  retail
• 6:04
  media
• 6:04
  businesses
• 6:05
  at
• 6:05
  other
• 6:05
  retailers,
• 6:06
  they're
• 6:06
  using
• 6:07
  tools
• 6:07
  like
• 6:07
  AI
• 6:08
  to
• 6:08
  help
• 6:09
  automate
• 6:09
  the
• 6:09
  process
• 6:10
  of
• 6:10
  planning
• 6:11
  or
• 6:12
  assortment
• 6:13
  or
• 6:14
  buying,
• 6:15
  you
• 6:15
  are
• 6:16
  taking
• 6:16
  a
• 6:16
  different
• 6:16
  approach
• 6:17
  in
• 6:17
  taking
• 6:17
  on
• 6:17
  people
• 6:18
  that
• 6:18
  have
• 6:18
  maybe
• 6:19
  no
• 6:19
  retail
• 6:19
  media
• 6:20
  experience
• 6:20
  and
• 6:20
  focusing
• 6:21
  on
• 6:21
  people.
• 6:22
  Part
• 6:22
  of
• 6:22
  it
• 6:22
  is
• 6:22
  that
• 6:23
  also
• 6:23
  part
• 6:23
  of
• 6:24
  the
• 6:24
  like
• 6:25
  Costco
• 6:25
  ish
• 6:26
  ness
• 6:26
  of
• 6:27
  your
• 6:27
  business
• 6:28
  or
• 6:28
  the
• 6:28
  Costco
• 6:29
  version
• 6:30
  of
• 6:30
  the
• 6:30
  retail
• 6:30
  media
• 6:31
  organization?
• 6:32
  Yeah.
• 6:32
  It
• 6:32
  may
• 6:32
  be
• 6:32
  the
• 6:33
  preeminent
• 6:34
  marker
• 6:35
  of
• 6:35
  the,
• 6:35
  the,
• 6:36
  the
• 6:36
  Costco
• 6:37
  centricity
• 6:37
  within
• 6:38
  the
• 6:38
  Costco
• 6:38
  retail
• 6:39
  media.
• 6:39
  And
• 6:40
  it
• 6:40
  is
• 6:40
  like
• 6:40
  it
• 6:40
  is,
• 6:41
  it
• 6:41
  is
• 6:41
  on
• 6:41
  brand
• 6:42
  for
• 6:42
  us.
• 6:42
  We
• 6:42
  promote
• 6:43
  from
• 6:43
  within,
• 6:43
  we
• 6:43
  hire
• 6:44
  from
• 6:44
  within.
• 6:45
  We
• 6:45
  want
• 6:45
  people
• 6:45
  to
• 6:45
  have
• 6:46
  a
• 6:46
  strong
• 6:46
  career
• 6:47
  path
• 6:47
  and,
• 6:48
  and
• 6:49
  the
• 6:49
  Costco
• 6:49
  culture
• 6:49
  is
• 6:49
  self
• 6:50
  perpetuating.
• 6:51
  It
• 6:51
  doesn't
• 6:51
  have
• 6:51
  to
• 6:52
  be
• 6:52
  forced
• 6:52
  on
• 6:52
  people.
• 6:52
  Yeah.
• 6:53
  Because
• 6:53
  they
• 6:53
  for
• 6:54
  a
• 6:54
  lot
• 6:54
  of
• 6:54
  them
• 6:54
  was
• 6:54
  their
• 6:54
  first
• 6:54
  job,
• 6:55
  was
• 6:55
  a
• 6:55
  job
• 6:55
  during
• 6:55
  college,
• 6:56
  whatever
• 6:56
  it
• 6:56
  may
• 6:56
  have
• 6:57
  been.
• 6:57
  And
• 6:57
  so
• 6:58
  like
• 6:58
  they
• 6:58
  perpetuate
• 6:59
  the
• 6:59
  culture.
• 6:59
  And
• 7:00
  so
• 7:00
  if
• 7:00
  you
• 7:00
  take
• 7:00
  an
• 7:00
  outsider
• 7:01
  like
• 7:01
  me
• 7:01
  who
• 7:02
  can
• 7:02
  bring
• 7:02
  in
• 7:02
  the
• 7:02
  knowledge
• 7:03
  about
• 7:03
  retail
• 7:03
  media.
• 7:03
  Yeah.
• 7:04
  What's
• 7:05
  like,
• 7:05
  like
• 7:05
  I
• 7:06
  could
• 7:06
  definitely
• 7:06
  steer
• 7:06
  it
• 7:06
  in
• 7:06
  the
• 7:07
  opposite
• 7:07
  direction.
• 7:07
  And
• 7:08
  so
• 7:08
  in
• 7:08
  some
• 7:08
  ways
• 7:08
  they're
• 7:08
  my
• 7:08
  babysitters.
• 7:09
  Yeah.
• 7:10
  To
• 7:10
  keep
• 7:10
  me
• 7:10
  honest.
• 7:11
  But
• 7:11
  like,
• 7:11
  but
• 7:12
  at
• 7:12
  the
• 7:12
  end
• 7:12
  of
• 7:12
  the
• 7:12
  day
• 7:13
  whatever
• 7:13
  we
• 7:13
  do
• 7:13
  has
• 7:14
  to,
• 7:14
  has
• 7:15
  to
• 7:15
  reflect
• 7:15
  the
• 7:15
  values
• 7:16
  of
• 7:16
  Costco
• 7:17
  and
• 7:17
  so
• 7:18
  that's
• 7:18
  the
• 7:19
  role
• 7:19
  they
• 7:19
  play.
• 7:20
  It's
• 7:20
  essentially
• 7:21
  Costco
• 7:21
  at
• 7:21
  the
• 7:21
  end
• 7:21
  of.
• 7:21
  The
• 7:21
  day
• 7:22
  it's
• 7:22
  really
• 7:22
  refreshing
• 7:22
  and
• 7:23
  I'm
• 7:23
  sure
• 7:23
  for
• 7:23
  our
• 7:24
  audience
• 7:24
  to
• 7:24
  hear
• 7:24
  too.
• 7:25
  How
• 7:26
  does
• 7:26
  that
• 7:26
  then
• 7:27
  trickle
• 7:27
  down
• 7:28
  to
• 7:29
  what
• 7:29
  the
• 7:29
  member
• 7:30
  experience
• 7:30
  is
• 7:31
  going
• 7:31
  to
• 7:31
  be
• 7:31
  like?
• 7:31
  How
• 7:32
  do
• 7:32
  you
• 7:32
  think
• 7:32
  about
• 7:32
  retail
• 7:33
  media
• 7:33
  being
• 7:34
  uniquely
• 7:35
  Costco
• 7:35
  when
• 7:35
  it
• 7:36
  comes
• 7:36
  to
• 7:37
  not
• 7:37
  pushing
• 7:38
  ads
• 7:38
  on
• 7:38
  people
• 7:38
  and
• 7:39
  really
• 7:39
  having
• 7:40
  it
• 7:40
  be
• 7:40
  an
• 7:40
  additive
• 7:41
  thing
• 7:41
  to
• 7:41
  my
• 7:41
  member
• 7:42
  experience
• 7:42
  as
• 7:42
  a
• 7:42
  Costco
• 7:43
  member.
• 7:44
  So
• 7:44
  apps
• 7:44
  and
• 7:44
  technology.
• 7:45
  I
• 7:45
  have
• 7:46
  25
• 7:46
  filters
• 7:47
  on
• 7:47
  my
• 7:47
  team
• 7:47
  who
• 7:48
  look
• 7:48
  at
• 7:48
  what
• 7:48
  we
• 7:48
  do
• 7:48
  and
• 7:49
  say
• 7:49
  like
• 7:49
  that
• 7:49
  doesn't
• 7:49
  make
• 7:49
  sense.
• 7:50
  And,
• 7:50
  and
• 7:51
  so
• 7:51
  like
• 7:51
  there's,
• 7:52
  there's
• 7:52
  that
• 7:52
  but
• 7:52
  that
• 7:53
  doesn't
• 7:53
  scale
• 7:53
  very
• 7:54
  well.
• 7:54
  Yeah.
• 7:54
  And
• 7:55
  it's
• 7:55
  a
• 7:55
  good
• 7:55
  way
• 7:55
  to
• 7:55
  burn
• 7:56
  people
• 7:56
  out
• 7:56
  for
• 7:56
  sure.
• 7:57
  So
• 7:57
  fundamentally
• 7:57
  like
• 7:57
  we,
• 7:58
  we
• 7:58
  set
• 7:58
  out
• 7:58
  and
• 7:58
  we
• 7:59
  may
• 7:59
  have
• 7:59
  talked
• 7:59
  about
• 7:59
  this
• 7:59
  a
• 7:59
  little
• 8:00
  bit
• 8:00
  and
• 8:00
  it's,
• 8:00
  it's
• 8:00
  a
• 8:00
  lot
• 8:00
  of
• 8:00
  what's
• 8:01
  changed
• 8:01
  over
• 8:01
  the
• 8:01
  last
• 8:01
  year
• 8:02
  is
• 8:02
  we,
• 8:03
  we
• 8:03
  have,
• 8:03
  we
• 8:03
  have
• 8:04
  to
• 8:04
  be
• 8:04
  as
• 8:04
  good
• 8:04
  as
• 8:04
  everybody
• 8:05
  else
• 8:05
  at
• 8:05
  being
• 8:06
  able
• 8:06
  to
• 8:06
  scale
• 8:06
  the
• 8:06
  business.
• 8:07
  We
• 8:07
  need
• 8:07
  to
• 8:07
  be
• 8:08
  able
• 8:08
  to
• 8:08
  take
• 8:08
  advantage
• 8:08
  of
• 8:08
  AI
• 8:09
  tooling
• 8:10
  existing
• 8:10
  and
• 8:11
  future.
• 8:11
  And
• 8:12
  that
• 8:12
  comes
• 8:12
  down
• 8:12
  to
• 8:12
  having
• 8:13
  the
• 8:13
  data
• 8:13
  in
• 8:13
  the
• 8:13
  right
• 8:13
  place,
• 8:14
  having
• 8:14
  it
• 8:14
  in
• 8:14
  an
• 8:15
  actionable
• 8:15
  state.
• 8:16
  And
• 8:16
  so
• 8:16
  that's
• 8:17
  how
• 8:17
  we'll
• 8:17
  solve
• 8:17
  for
• 8:18
  that
• 8:18
  is
• 8:18
  personalization
• 8:19
  at
• 8:19
  scale
• 8:20
  cannot
• 8:21
  be
• 8:21
  done
• 8:21
  by
• 8:21
  humans.
• 8:22
  It
• 8:22
  needs
• 8:23
  to
• 8:23
  be
• 8:23
  done
• 8:24
  by
• 8:24
  machines.
• 8:25
  And
• 8:25
  those
• 8:25
  machines
• 8:25
  are
• 8:25
  only
• 8:25
  as
• 8:26
  smart
• 8:26
  as
• 8:26
  the
• 8:26
  data
• 8:26
  that
• 8:26
  pump
• 8:27
  into
• 8:27
  it.
• 8:27
  And
• 8:27
  so
• 8:28
  to
• 8:28
  do
• 8:28
  retail
• 8:28
  media.
• 8:29
  Well,
• 8:29
  we
• 8:29
  have
• 8:29
  to
• 8:29
  be
• 8:29
  very,
• 8:29
  very
• 8:30
  good
• 8:30
  at
• 8:30
  this.
• 8:30
  But
• 8:31
  our
• 8:31
  retail
• 8:31
  media
• 8:31
  strategy
• 8:32
  is
• 8:32
  actually
• 8:32
  subordinated
• 8:33
  to
• 8:33
  our
• 8:33
  personalization
• 8:34
  strategy
• 8:34
  to
• 8:34
  our
• 8:35
  member
• 8:35
  communication
• 8:35
  strategy.
• 8:36
  Because
• 8:36
  whether
• 8:37
  a
• 8:37
  supplier
• 8:37
  paid
• 8:38
  for
• 8:38
  it,
• 8:38
  an
• 8:38
  agency
• 8:38
  paid
• 8:38
  for
• 8:39
  it,
• 8:39
  it
• 8:39
  doesn't
• 8:39
  matter.
• 8:39
  It's
• 8:40
  a
• 8:40
  Costco
• 8:40
  brand
• 8:40
  experience.
• 8:41
  Right.
• 8:41
  And
• 8:42
  so
• 8:42
  we
• 8:42
  need
• 8:43
  the
• 8:43
  ability
• 8:43
  to
• 8:43
  put
• 8:44
  the
• 8:44
  Costco
• 8:44
  lens
• 8:44
  as
• 8:45
  if
• 8:45
  I
• 8:45
  had
• 8:45
  someone
• 8:45
  on
• 8:45
  my
• 8:46
  team,
• 8:46
  a
• 8:46
  Costco
• 8:46
  lifer,
• 8:47
  looking
• 8:47
  at
• 8:47
  every
• 8:48
  single
• 8:48
  thing
• 8:49
  all
• 8:49
  the
• 8:49
  time
• 8:50
  at
• 8:50
  a
• 8:51
  member
• 8:51
  level.
• 8:51
  And
• 8:51
  the
• 8:51
  only
• 8:52
  way
• 8:52
  to
• 8:52
  do
• 8:52
  that
• 8:52
  is
• 8:53
  to
• 8:53
  have
• 8:53
  the
• 8:54
  data
• 8:54
  in
• 8:54
  place
• 8:55
  and
• 8:55
  then
• 8:55
  the
• 8:55
  technology
• 8:55
  in
• 8:56
  place
• 8:56
  to
• 8:56
  do
• 8:56
  that.
• 8:56
  And
• 8:57
  that's
• 8:57
  what's
• 8:57
  been
• 8:57
  very
• 8:57
  exciting
• 8:58
  for
• 8:58
  us.
• 8:58
  I
• 8:58
  call
• 8:58
  it
• 8:58
  the
• 8:59
  boring,
• 8:59
  unsexy
• 8:59
  stuff
• 9:00
  that
• 9:00
  we've
• 9:00
  been
• 9:00
  doing.
• 9:00
  Sure.
• 9:01
  But
• 9:01
  we
• 9:01
  can't
• 9:01
  do
• 9:02
  the
• 9:02
  fun
• 9:02
  stuff
• 9:02
  until
• 9:02
  we
• 9:02
  get
• 9:03
  the
• 9:03
  stuff.
• 9:03
  Right?
• 9:03
  Has
• 9:03
  to
• 9:03
  be
• 9:03
  done.
• 9:04
  That's
• 9:04
  a
• 9:04
  really
• 9:04
  interesting
• 9:04
  point
• 9:05
  though,
• 9:05
  because,
• 9:05
  you
• 9:05
  know,
• 9:05
  now,
• 9:06
  since
• 9:07
  when
• 9:07
  we
• 9:07
  talked
• 9:07
  to
• 9:07
  you
• 9:08
  last
• 9:08
  year,
• 9:08
  like
• 9:08
  AI
• 9:09
  now
• 9:09
  enables
• 9:09
  you
• 9:09
  to
• 9:09
  do
• 9:10
  that
• 9:10
  in
• 9:10
  a
• 9:10
  different
• 9:10
  way.
• 9:11
  Like,
• 9:11
  it
• 9:11
  enables
• 9:11
  you
• 9:11
  to
• 9:11
  get
• 9:11
  to
• 9:12
  that
• 9:12
  level
• 9:12
  of
• 9:12
  personalization
• 9:13
  that
• 9:13
  Costco
• 9:13
  needs
• 9:14
  that
• 9:14
  you
• 9:14
  probably
• 9:14
  couldn't
• 9:15
  necessarily
• 9:15
  do,
• 9:15
  like
• 9:15
  three
• 9:15
  or
• 9:16
  four
• 9:16
  years
• 9:16
  ago.
• 9:16
  Is
• 9:16
  that
• 9:17
  right?
• 9:17
  100%
• 9:18
  like
• 9:18
  it
• 9:18
  is.
• 9:19
  It
• 9:19
  is
• 9:19
  absolutely
• 9:20
  impossible
• 9:20
  to
• 9:20
  do
• 9:20
  it
• 9:21
  any
• 9:21
  other
• 9:21
  way.
• 9:22
  And
• 9:22
  this
• 9:22
  has
• 9:22
  been
• 9:22
  an
• 9:23
  interesting
• 9:23
  discussion
• 9:23
  for
• 9:23
  us
• 9:24
  as
• 9:24
  a
• 9:24
  company
• 9:24
  because
• 9:25
  we're
• 9:25
  not
• 9:26
  as
• 9:26
  data
• 9:26
  driven
• 9:26
  as
• 9:26
  others.
• 9:27
  We
• 9:27
  have
• 9:27
  merchants
• 9:27
  that
• 9:27
  are
• 9:28
  incredibly
• 9:28
  good
• 9:28
  at
• 9:28
  their
• 9:29
  jobs,
• 9:29
  right.
• 9:29
  They
• 9:30
  find
• 9:30
  amazing
• 9:31
  items
• 9:31
  they
• 9:31
  know
• 9:31
  our
• 9:31
  members
• 9:32
  will
• 9:32
  love,
• 9:32
  and
• 9:32
  they
• 9:33
  drive
• 9:33
  a
• 9:33
  bargain
• 9:34
  that
• 9:34
  gets
• 9:34
  that
• 9:34
  highest
• 9:35
  quality
• 9:35
  item
• 9:35
  at
• 9:35
  the
• 9:35
  lowest
• 9:36
  possible
• 9:36
  price.
• 9:37
  And
• 9:37
  data
• 9:37
  can
• 9:38
  help
• 9:38
  serve
• 9:38
  that.
• 9:38
  But
• 9:39
  we
• 9:39
  don't
• 9:39
  look
• 9:40
  at
• 9:40
  the
• 9:40
  data
• 9:40
  the
• 9:40
  same
• 9:40
  way.
• 9:40
  Like,
• 9:41
  are
• 9:41
  our
• 9:41
  members
• 9:41
  buying
• 9:42
  the
• 9:42
  things
• 9:42
  that
• 9:42
  we're
• 9:42
  putting
• 9:42
  on
• 9:43
  the
• 9:43
  floor
• 9:43
  and
• 9:44
  are
• 9:44
  they
• 9:44
  renewing
• 9:44
  their
• 9:44
  membership?
• 9:45
  Those
• 9:45
  are
• 9:45
  the
• 9:46
  two
• 9:46
  KPIs
• 9:46
  that
• 9:46
  matter
• 9:47
  more
• 9:47
  than
• 9:47
  anything
• 9:47
  else.
• 9:48
  Okay.
• 9:48
  And
• 9:49
  so
• 9:49
  for
• 9:49
  us,
• 9:50
  we
• 9:50
  have
• 9:50
  to
• 9:50
  remember
• 9:51
  the
• 9:51
  context
• 9:52
  that
• 9:52
  we're
• 9:52
  competing
• 9:53
  in
• 9:53
  and
• 9:54
  then
• 9:54
  figure
• 9:54
  out,
• 9:54
  okay,
• 9:54
  well,
• 9:55
  there
• 9:55
  is
• 9:55
  still
• 9:56
  a
• 9:56
  ton
• 9:56
  of
• 9:56
  data
• 9:56
  that
• 9:56
  we
• 9:56
  can
• 9:56
  mine.
• 9:57
  Figuring
• 9:57
  out
• 9:58
  how
• 9:58
  do
• 9:58
  we,
• 9:59
  how
• 10:00
  do
• 10:00
  we
• 10:00
  communicate
• 10:00
  with
• 10:00
  each
• 10:01
  member
• 10:01
  in
• 10:01
  a
• 10:01
  way
• 10:01
  that
• 10:02
  curates
• 10:02
  the
• 10:03
  warehouse
• 10:03
  experience,
• 10:04
  curates
• 10:04
  the
• 10:05
  e
• 10:05
  commerce
• 10:06
  experience
• 10:06
  in
• 10:06
  such
• 10:07
  a
• 10:07
  way
• 10:07
  that
• 10:07
  it
• 10:07
  shows
• 10:08
  them
• 10:08
  even
• 10:08
  more
• 10:08
  that
• 10:08
  we
• 10:08
  know
• 10:09
  them.
• 10:09
  Our
• 10:09
  merchants
• 10:09
  know
• 10:10
  our
• 10:10
  members
• 10:10
  so
• 10:10
  well
• 10:10
  and
• 10:11
  it
• 10:11
  comes
• 10:11
  through
• 10:11
  in
• 10:11
  the
• 10:11
  items
• 10:12
  that
• 10:12
  they
• 10:12
  pick.
• 10:13
  Can
• 10:13
  we
• 10:13
  do
• 10:13
  the
• 10:14
  same
• 10:14
  thing
• 10:14
  from
• 10:14
  a
• 10:14
  member
• 10:14
  communications
• 10:15
  perspective,
• 10:15
  whether
• 10:16
  supplier
• 10:16
  funded
• 10:16
  or
• 10:17
  organic
• 10:18
  or
• 10:18
  whatever
• 10:18
  it
• 10:18
  is,
• 10:18
  can
• 10:19
  we
• 10:19
  do
• 10:19
  the
• 10:19
  same
• 10:19
  thing?
• 10:20
  But
• 10:20
  it's
• 10:21
  impossible
• 10:21
  to
• 10:21
  do
• 10:21
  that
• 10:22
  with,
• 10:22
  you
• 10:22
  know,
• 10:22
  with
• 10:22
  135
• 10:24
  million
• 10:24
  cardholders
• 10:25
  worldwide,
• 10:26
  it's
• 10:26
  impossible
• 10:26
  to
• 10:26
  do
• 10:27
  it
• 10:27
  without,
• 10:27
  without
• 10:27
  the
• 10:28
  use
• 10:28
  of
• 10:28
  data
• 10:28
  and
• 10:28
  technology.
• 10:28
  Right,
• 10:29
  Right.
• 10:29
  Well.
• 10:29
  And
• 10:30
  one
• 10:30
  of
• 10:30
  those.
• 10:30
  One
• 10:30
  of
• 10:30
  those
• 10:31
  products
• 10:31
  that
• 10:31
  essentially
• 10:32
  the
• 10:32
  merchandising
• 10:33
  team
• 10:33
  does
• 10:33
  a
• 10:33
  great
• 10:33
  job
• 10:34
  at
• 10:34
  picking
• 10:34
  every
• 10:35
  single
• 10:35
  day
• 10:35
  and
• 10:35
  every
• 10:35
  single
• 10:36
  year
• 10:36
  is,
• 10:36
  of
• 10:36
  course,
• 10:36
  the
• 10:37
  Kirkland
• 10:37
  brand,
• 10:37
  which
• 10:37
  is
• 10:38
  now
• 10:38
  a
• 10:38
  huge
• 10:38
  brand
• 10:38
  in
• 10:39
  and
• 10:39
  of
• 10:39
  itself
• 10:39
  in
• 10:39
  the
• 10:40
  retail
• 10:40
  landscape.
• 10:41
  How
• 10:41
  does
• 10:41
  that
• 10:41
  factor
• 10:42
  into
• 10:42
  your
• 10:43
  decision
• 10:43
  making
• 10:43
  and
• 10:43
  your
• 10:44
  strategy?
• 10:44
  Like,
• 10:44
  how
• 10:45
  do
• 10:45
  you
• 10:45
  work
• 10:45
  around
• 10:45
  or
• 10:46
  within
• 10:46
  the
• 10:46
  constraints
• 10:47
  of,
• 10:47
  you
• 10:48
  know,
• 10:48
  trying
• 10:48
  to
• 10:48
  be
• 10:48
  what
• 10:49
  the
• 10:49
  Kirkland
• 10:49
  brand
• 10:49
  needs
• 10:49
  to
• 10:50
  be
• 10:50
  from
• 10:50
  a
• 10:50
  retail
• 10:50
  media
• 10:51
  standpoint?
• 10:51
  Yeah,
• 10:52
  this.
• 10:52
  It's
• 10:52
  a
• 10:52
  great
• 10:53
  question,
• 10:53
  and
• 10:53
  it's
• 10:53
  one.
• 10:54
  It.
• 10:54
  One
• 10:54
  I
• 10:54
  get
• 10:54
  a
• 10:54
  lot,
• 10:54
  because
• 10:55
  Kirkland
• 10:55
  Signature
• 10:56
  is
• 10:56
  a
• 10:56
  large
• 10:56
  brand.
• 10:57
  It's
• 10:58
  not
• 10:58
  just
• 10:58
  a
• 10:58
  house
• 10:58
  brand.
• 10:59
  It's
• 10:59
  not
• 10:59
  like
• 10:59
  it
• 10:59
  is
• 11:00
  a
• 11:00
  brand.
• 11:00
  And
• 11:00
  one
• 11:00
  of
• 11:01
  the
• 11:01
  things
• 11:01
  when
• 11:01
  we.
• 11:02
  When
• 11:02
  we
• 11:02
  look
• 11:02
  at
• 11:02
  what
• 11:02
  drives
• 11:03
  members
• 11:03
  to
• 11:03
  join
• 11:04
  and
• 11:04
  particularly
• 11:05
  what
• 11:05
  gets
• 11:05
  them
• 11:05
  to
• 11:05
  stay,
• 11:06
  is
• 11:06
  Kirkland
• 11:06
  Signature.
• 11:07
  And
• 11:07
  so
• 11:08
  there's
• 11:08
  one
• 11:08
  way
• 11:08
  to
• 11:08
  interpret
• 11:08
  it
• 11:09
  is
• 11:09
  Kirkland
• 11:09
  Signature
• 11:10
  is
• 11:10
  a
• 11:10
  threat
• 11:10
  to
• 11:11
  all
• 11:11
  the
• 11:11
  people
• 11:11
  that
• 11:11
  I
• 11:12
  want
• 11:12
  to
• 11:12
  partner
• 11:12
  with.
• 11:13
  And
• 11:13
  so
• 11:13
  I
• 11:13
  can
• 11:13
  go
• 11:14
  in,
• 11:14
  I
• 11:14
  can
• 11:14
  say,
• 11:14
  hey,
• 11:14
  you
• 11:14
  know
• 11:14
  what?
• 11:15
  You
• 11:15
  got
• 11:15
  to
• 11:15
  play
• 11:15
  defense
• 11:15
  against
• 11:16
  our
• 11:16
  house
• 11:16
  brand,
• 11:17
  because
• 11:18
  there's
• 11:18
  two
• 11:18
  items.
• 11:19
  There's
• 11:19
  the
• 11:19
  national
• 11:19
  brand
• 11:19
  and
• 11:20
  there's
• 11:20
  ks.
• 11:20
  If
• 11:21
  you
• 11:21
  want
• 11:21
  shell
• 11:21
  space,
• 11:21
  you
• 11:22
  got
• 11:22
  to
• 11:22
  compete.
• 11:22
  And
• 11:23
  there's
• 11:23
  something
• 11:24
  to
• 11:24
  that.
• 11:24
  And
• 11:24
  that's
• 11:25
  in
• 11:25
  the
• 11:25
  back
• 11:25
  of
• 11:25
  their
• 11:25
  mind
• 11:25
  all
• 11:26
  the
• 11:26
  time.
• 11:26
  Oh,
• 11:26
  for
• 11:26
  sure.
• 11:27
  But
• 11:27
  it's
• 11:27
  actually
• 11:27
  not
• 11:28
  the
• 11:28
  way
• 11:28
  to
• 11:28
  look
• 11:28
  at
• 11:28
  it,
• 11:28
  because
• 11:28
  Kirkland
• 11:29
  Signature
• 11:29
  is
• 11:30
  what
• 11:30
  keeps
• 11:30
  people
• 11:30
  coming
• 11:31
  through
• 11:31
  the
• 11:31
  door.
• 11:32
  And
• 11:32
  if
• 11:32
  you're
• 11:33
  a
• 11:33
  brand,
• 11:33
  you're
• 11:34
  a
• 11:34
  national
• 11:34
  brand,
• 11:34
  a
• 11:34
  regional
• 11:35
  brand,
• 11:36
  you're
• 11:36
  a
• 11:36
  mom
• 11:36
  and
• 11:36
  pops
• 11:37
  brand.
• 11:37
  We
• 11:37
  got
• 11:37
  a
• 11:37
  lot
• 11:37
  of
• 11:38
  those.
• 11:38
  You
• 11:38
  want
• 11:39
  a
• 11:39
  strong
• 11:39
  Kirkland
• 11:40
  Signature
• 11:40
  brand
• 11:41
  because
• 11:41
  it
• 11:41
  is
• 11:42
  so
• 11:42
  sticky.
• 11:43
  And
• 11:43
  yes,
• 11:44
  it
• 11:44
  can
• 11:44
  be
• 11:45
  competitive
• 11:45
  in
• 11:45
  some
• 11:45
  areas,
• 11:46
  but
• 11:47
  I
• 11:48
  think
• 11:48
  it's
• 11:48
  worth
• 11:48
  it
• 11:48
  for
• 11:49
  Kirkland
• 11:49
  Signature
• 11:49
  to
• 11:49
  be
• 11:49
  strong
• 11:50
  because
• 11:50
  it
• 11:50
  is
• 11:50
  a
• 11:50
  massive
• 11:51
  differentiator
• 11:51
  for
• 11:52
  Costco.
• 11:52
  And
• 11:52
  how
• 11:52
  does
• 11:52
  that.
• 11:53
  How
• 11:53
  does
• 11:53
  that
• 11:53
  impact,
• 11:54
  like,
• 11:54
  how
• 11:54
  you
• 11:54
  activate
• 11:55
  things?
• 11:55
  Like,
• 11:55
  how
• 11:55
  do
• 11:56
  you
• 11:56
  execute
• 11:56
  things
• 11:56
  or
• 11:57
  decisions
• 11:57
  that
• 11:57
  you
• 11:57
  make
• 11:57
  in
• 11:58
  regards
• 11:58
  to
• 11:58
  what
• 11:59
  to
• 11:59
  promote
• 11:59
  or
• 11:59
  what
• 11:59
  to
• 11:59
  run
• 12:00
  through
• 12:00
  the
• 12:00
  network?
• 12:00
  So
• 12:01
  we.
• 12:02
  We
• 12:02
  stay
• 12:03
  very
• 12:03
  close
• 12:03
  with
• 12:03
  our
• 12:03
  merchants
• 12:04
  to
• 12:04
  understand
• 12:04
  what
• 12:05
  their
• 12:05
  strategy
• 12:05
  is.
• 12:06
  Do
• 12:06
  they
• 12:06
  have
• 12:06
  a
• 12:07
  ks
• 12:07
  Dominant
• 12:08
  strategy.
• 12:08
  Okay.
• 12:09
  Or
• 12:10
  like.
• 12:10
  Like.
• 12:10
  But
• 12:11
  in
• 12:11
  general,
• 12:11
  though,
• 12:11
  because
• 12:11
  we
• 12:11
  don't
• 12:12
  carry
• 12:12
  very
• 12:12
  many
• 12:12
  items,
• 12:13
  they're
• 12:13
  not
• 12:13
  category
• 12:13
  managers.
• 12:14
  There's
• 12:14
  less
• 12:14
  sensitivity
• 12:15
  to
• 12:15
  that.
• 12:16
  I
• 12:16
  think
• 12:16
  it
• 12:16
  comes
• 12:16
  from
• 12:16
  there.
• 12:17
  They
• 12:17
  have
• 12:17
  trust
• 12:17
  that
• 12:18
  if
• 12:18
  they
• 12:18
  put
• 12:18
  a
• 12:18
  Kirkland
• 12:19
  Signature
• 12:19
  logo
• 12:20
  on
• 12:20
  an
• 12:20
  item,
• 12:20
  that
• 12:21
  it's
• 12:21
  going
• 12:21
  to
• 12:21
  be
• 12:22
  fine
• 12:22
  and
• 12:22
  members
• 12:22
  is
• 12:22
  going
• 12:23
  to
• 12:23
  resonate.
• 12:23
  But
• 12:23
  even
• 12:24
  though
• 12:24
  as
• 12:24
  good
• 12:24
  as
• 12:24
  Kirkland
• 12:25
  Signature
• 12:25
  laundry
• 12:25
  detergent
• 12:26
  is,
• 12:26
  there
• 12:26
  are
• 12:26
  the
• 12:26
  tide
• 12:27
  loyalists
• 12:28
  that
• 12:28
  are
• 12:28
  out
• 12:28
  there.
• 12:29
  And
• 12:29
  so
• 12:29
  it's
• 12:29
  not
• 12:29
  really
• 12:30
  a
• 12:30
  zero
• 12:30
  sum
• 12:30
  game.
• 12:31
  If
• 12:31
  they
• 12:31
  come
• 12:32
  in
• 12:32
  the
• 12:32
  door,
• 12:32
  if
• 12:33
  we
• 12:33
  sell
• 12:33
  what
• 12:33
  they
• 12:33
  want
• 12:34
  at
• 12:34
  a
• 12:34
  value
• 12:34
  they're
• 12:34
  happy
• 12:35
  with,
• 12:35
  they
• 12:35
  will
• 12:35
  renew.
• 12:36
  And
• 12:36
  end
• 12:36
  of
• 12:36
  the
• 12:36
  day
• 12:36
  that's
• 12:37
  the
• 12:37
  goal.
• 12:37
  So
• 12:38
  we
• 12:38
  do
• 12:38
  like,
• 12:38
  it
• 12:39
  does
• 12:39
  change
• 12:39
  some
• 12:39
  of
• 12:39
  our
• 12:39
  things
• 12:40
  where
• 12:40
  when
• 12:40
  we're
• 12:40
  building
• 12:40
  audiences,
• 12:41
  the
• 12:41
  competitive
• 12:42
  set
• 12:42
  is
• 12:42
  national
• 12:43
  brand
• 12:43
  and
• 12:43
  Kirkland
• 12:44
  Signature.
• 12:44
  And
• 12:44
  so
• 12:44
  we
• 12:45
  do
• 12:45
  have,
• 12:45
  we
• 12:45
  do
• 12:46
  have
• 12:46
  some,
• 12:46
  some
• 12:47
  hoops
• 12:47
  to
• 12:47
  jump
• 12:47
  through
• 12:48
  when
• 12:48
  it
• 12:48
  comes
• 12:49
  to
• 12:49
  data
• 12:49
  transparency
• 12:50
  and
• 12:50
  building
• 12:50
  audiences
• 12:51
  and
• 12:51
  not
• 12:51
  wanting
• 12:51
  to
• 12:51
  cannibalize.
• 12:52
  But
• 12:52
  end
• 12:53
  of
• 12:53
  the
• 12:53
  day,
• 12:53
  if
• 12:53
  members
• 12:54
  are
• 12:54
  shopping,
• 12:54
  if
• 12:54
  categories
• 12:55
  are
• 12:55
  growing,
• 12:55
  it's
• 12:55
  a
• 12:56
  win,
• 12:56
  win
• 12:56
  for
• 12:56
  everybody.
• 12:56
  It
• 12:57
  drives
• 12:57
  traffic.
• 12:57
  Yeah.
• 12:58
  Well,
• 12:58
  Mark,
• 12:58
  let's
• 12:59
  conclude
• 12:59
  today
• 13:00
  with
• 13:01
  what
• 13:01
  you
• 13:01
  think
• 13:01
  we
• 13:02
  might
• 13:02
  be
• 13:02
  talking
• 13:02
  to
• 13:03
  you
• 13:03
  about
• 13:03
  at
• 13:03
  NRF
• 13:04
  2027.
• 13:04
  What,
• 13:05
  what
• 13:05
  are
• 13:05
  you
• 13:05
  excited
• 13:05
  to
• 13:06
  work
• 13:06
  on
• 13:06
  this
• 13:06
  year
• 13:06
  and
• 13:06
  what
• 13:07
  do
• 13:07
  you
• 13:07
  hope
• 13:07
  comes
• 13:07
  to
• 13:08
  fruition?
• 13:09
  Wow.
• 13:09
  We
• 13:09
  have
• 13:09
  a
• 13:09
  big
• 13:09
  year
• 13:10
  planned
• 13:11
  and
• 13:11
  it's
• 13:11
  really
• 13:12
  just,
• 13:12
  it's.
• 13:12
  We're
• 13:12
  in,
• 13:13
  we're
• 13:13
  in
• 13:13
  that
• 13:14
  phase
• 13:14
  where
• 13:15
  we've
• 13:15
  done
• 13:16
  a
• 13:16
  lot
• 13:16
  of
• 13:16
  the
• 13:16
  boring,
• 13:17
  unsexy
• 13:17
  stuff
• 13:18
  but
• 13:18
  foundational
• 13:18
  stuff.
• 13:19
  This
• 13:19
  year
• 13:20
  we
• 13:20
  have
• 13:20
  several
• 13:20
  key
• 13:21
  product
• 13:21
  launches
• 13:21
  that
• 13:21
  we're
• 13:22
  very
• 13:22
  excited
• 13:22
  about.
• 13:25
  In
• 13:25
  Q1
• 13:26
  we'll
• 13:26
  launch
• 13:27
  a
• 13:28
  brand
• 13:28
  new
• 13:28
  clean
• 13:28
  room
• 13:29
  platform
• 13:30
  that
• 13:31
  we're
• 13:31
  very
• 13:31
  excited
• 13:32
  to
• 13:32
  have.
• 13:32
  We
• 13:32
  have
• 13:32
  a
• 13:32
  clean
• 13:32
  room
• 13:33
  today.
• 13:33
  There
• 13:34
  are
• 13:34
  limitations
• 13:35
  to
• 13:35
  what
• 13:35
  we
• 13:35
  can
• 13:35
  do.
• 13:36
  So
• 13:36
  we're
• 13:36
  upgrading.
• 13:37
  Our
• 13:37
  Clean
• 13:37
  Room
• 13:38
  will
• 13:38
  have
• 13:38
  way
• 13:38
  more
• 13:39
  partner
• 13:39
  tenants,
• 13:40
  much
• 13:40
  friendlier
• 13:40
  UI
• 13:41
  and
• 13:41
  we're
• 13:41
  using
• 13:42
  it
• 13:42
  primarily
• 13:42
  to
• 13:43
  do
• 13:43
  real
• 13:43
  time
• 13:43
  on
• 13:44
  demand
• 13:44
  measurement
• 13:44
  of
• 13:44
  our
• 13:45
  offsite
• 13:45
  media,
• 13:45
  which
• 13:46
  is
• 13:46
  a
• 13:46
  huge
• 13:46
  ask.
• 13:47
  Our
• 13:47
  offsite
• 13:47
  business
• 13:47
  is
• 13:47
  growing.
• 13:48
  Yeah.
• 13:48
  Brands
• 13:49
  and
• 13:49
  agencies
• 13:49
  are
• 13:49
  responding
• 13:50
  very,
• 13:50
  very
• 13:50
  well
• 13:50
  to
• 13:51
  it.
• 13:51
  We
• 13:51
  think
• 13:51
  it's
• 13:51
  performing
• 13:52
  very
• 13:52
  well.
• 13:52
  We've
• 13:53
  been
• 13:53
  doing
• 13:53
  post
• 13:53
  campaign
• 13:54
  measurement
• 13:54
  like
• 13:54
  2015
• 13:55
  or
• 13:55
  something.
• 13:56
  And
• 13:56
  so,
• 13:57
  so
• 13:57
  this
• 13:57
  clean
• 13:57
  room
• 13:58
  product
• 13:58
  is
• 13:58
  going
• 13:58
  to
• 13:59
  be,
• 13:59
  is.
• 13:59
  We're
• 13:59
  very
• 13:59
  excited
• 14:00
  about
• 14:00
  because
• 14:00
  it's
• 14:00
  answering
• 14:01
  a
• 14:01
  huge
• 14:01
  need
• 14:02
  from
• 14:02
  our,
• 14:02
  from
• 14:03
  our
• 14:03
  advertising
• 14:03
  partners.
• 14:06
  Also
• 14:06
  in
• 14:06
  Q1
• 14:06
  we're
• 14:07
  going
• 14:07
  to
• 14:07
  launch
• 14:08
  an
• 14:09
  SEM
• 14:09
  product,
• 14:09
  a
• 14:09
  Google
• 14:10
  shopping
• 14:10
  product.
• 14:10
  Okay.
• 14:11
  So
• 14:11
  if
• 14:11
  those
• 14:11
  are
• 14:11
  familiar
• 14:12
  with
• 14:12
  Symbiosis,
• 14:13
  they
• 14:13
  have
• 14:13
  partnerships
• 14:13
  with
• 14:13
  several
• 14:14
  other
• 14:14
  retailers
• 14:15
  in
• 14:15
  the
• 14:15
  market.
• 14:16
  We're
• 14:17
  putting
• 14:17
  that
• 14:17
  product
• 14:17
  into
• 14:17
  market
• 14:18
  as
• 14:18
  well.
• 14:19
  Again,
• 14:19
  something
• 14:19
  that
• 14:19
  we
• 14:20
  get
• 14:20
  asked
• 14:20
  about
• 14:20
  all
• 14:20
  the
• 14:21
  time.
• 14:21
  We
• 14:21
  have
• 14:21
  a
• 14:22
  lot
• 14:22
  of
• 14:22
  items
• 14:22
  that
• 14:22
  are
• 14:22
  searched
• 14:23
  a
• 14:23
  lot
• 14:23
  for
• 14:23
  on
• 14:23
  Google,
• 14:24
  on
• 14:24
  Bing.
• 14:25
  And
• 14:25
  so
• 14:25
  the
• 14:25
  idea
• 14:26
  of
• 14:26
  off
• 14:26
  site
• 14:26
  product
• 14:26
  ads
• 14:27
  is
• 14:27
  a
• 14:27
  big
• 14:27
  deal
• 14:28
  for
• 14:28
  us.
• 14:28
  And
• 14:29
  so
• 14:29
  a
• 14:29
  huge
• 14:29
  wide
• 14:29
  space.
• 14:30
  Yeah.
• 14:30
  And
• 14:31
  so
• 14:31
  we
• 14:31
  have
• 14:32
  that
• 14:32
  and
• 14:32
  then
• 14:32
  we
• 14:32
  are,
• 14:33
  we
• 14:33
  are
• 14:33
  relaunching
• 14:34
  our
• 14:34
  on
• 14:34
  site
• 14:34
  ad
• 14:34
  or
• 14:35
  ad
• 14:35
  server.
• 14:36
  Okay.
• 14:36
  Will
• 14:36
  Happen
• 14:37
  probably
• 14:37
  early
• 14:37
  Q2,
• 14:38
  how
• 14:38
  it's
• 14:38
  looking
• 14:38
  right
• 14:38
  now.
• 14:38
  We're
• 14:39
  in
• 14:39
  the
• 14:39
  middle
• 14:39
  of
• 14:39
  integration
• 14:40
  right
• 14:40
  now
• 14:41
  and
• 14:41
  that,
• 14:42
  that
• 14:42
  the,
• 14:42
  the
• 14:43
  key
• 14:43
  differentiator
• 14:43
  is
• 14:44
  that
• 14:44
  Ad
• 14:44
  server
• 14:44
  is
• 14:44
  plugged
• 14:45
  into
• 14:45
  our
• 14:45
  entire
• 14:45
  ecosystem.
• 14:46
  All
• 14:46
  of
• 14:46
  our
• 14:46
  data,
• 14:47
  all
• 14:47
  of
• 14:47
  our
• 14:48
  identity
• 14:48
  graph,
• 14:48
  all
• 14:49
  of
• 14:49
  the
• 14:49
  signal
• 14:49
  capture
• 14:50
  is
• 14:51
  there
• 14:51
  and
• 14:51
  that's
• 14:51
  a
• 14:52
  step
• 14:52
  changer
• 14:52
  for
• 14:52
  us
• 14:52
  because
• 14:53
  it
• 14:53
  allows
• 14:53
  audience
• 14:54
  targeting,
• 14:54
  it
• 14:55
  allows
• 14:55
  self
• 14:55
  serve
• 14:57
  automation
• 14:57
  or
• 14:58
  automation
• 14:58
  and
• 14:58
  then
• 14:58
  optimization
• 14:59
  toward
• 14:59
  in
• 14:59
  warehouse
• 15:00
  sales
• 15:00
  which
• 15:01
  we've
• 15:01
  never
• 15:01
  been
• 15:01
  able
• 15:01
  to
• 15:02
  do
• 15:02
  in
• 15:02
  all
• 15:02
  of
• 15:02
  our
• 15:02
  history.
• 15:03
  So.
• 15:03
  And
• 15:03
  one
• 15:04
  thing
• 15:04
  you
• 15:04
  didn't
• 15:04
  mention
• 15:05
  that
• 15:05
  I'm
• 15:05
  curious
• 15:05
  about
• 15:06
  is
• 15:07
  I
• 15:07
  recently
• 15:08
  learned
• 15:08
  that
• 15:08
  you
• 15:08
  can
• 15:09
  do
• 15:09
  scan
• 15:10
  and
• 15:10
  go
• 15:10
  in
• 15:10
  some
• 15:11
  of
• 15:11
  the
• 15:11
  the
• 15:12
  clubs
• 15:12
  is
• 15:12
  that
• 15:13
  will
• 15:13
  we
• 15:14
  see
• 15:14
  more
• 15:14
  of
• 15:14
  that
• 15:14
  in
• 15:15
  20,
• 15:15
  26
• 15:16
  or
• 15:16
  27?
• 15:17
  And
• 15:17
  how
• 15:18
  does,
• 15:18
  how
• 15:18
  do
• 15:18
  you
• 15:18
  think
• 15:18
  about
• 15:19
  retail
• 15:19
  media
• 15:19
  and
• 15:19
  that
• 15:20
  experience?
• 15:20
  If
• 15:20
  you're
• 15:21
  thinking
• 15:21
  of
• 15:21
  the,
• 15:22
  if
• 15:22
  you're
• 15:22
  thinking
• 15:22
  of
• 15:23
  I
• 15:23
  guess
• 15:23
  the
• 15:23
  more
• 15:24
  conventional
• 15:24
  scan
• 15:24
  and
• 15:25
  go
• 15:25
  experience
• 15:25
  that
• 15:25
  the
• 15:26
  other
• 15:26
  place
• 15:26
  has,
• 15:27
  we
• 15:27
  have
• 15:27
  our
• 15:28
  own
• 15:28
  iteration
• 15:28
  of
• 15:28
  it.
• 15:28
  So
• 15:29
  we
• 15:29
  have
• 15:29
  a
• 15:29
  warehouse
• 15:29
  mode
• 15:30
  and
• 15:30
  so
• 15:30
  there's
• 15:31
  a
• 15:31
  digital
• 15:31
  membership
• 15:31
  card
• 15:32
  component
• 15:32
  which
• 15:33
  is.
• 15:33
  It's
• 15:33
  kind
• 15:33
  of.
• 15:34
  It's
• 15:34
  a,
• 15:34
  it's
• 15:34
  kind
• 15:34
  of
• 15:34
  a
• 15:34
  speedway
• 15:35
  through
• 15:36
  the
• 15:36
  entrance
• 15:36
  process,
• 15:37
  the
• 15:37
  fuel
• 15:38
  station
• 15:38
  process,
• 15:38
  the
• 15:38
  checkout
• 15:39
  process
• 15:39
  because
• 15:39
  your
• 15:40
  payments
• 15:40
  attached
• 15:40
  to
• 15:41
  it.
• 15:41
  Right.
• 15:41
  And
• 15:41
  it
• 15:42
  helps
• 15:42
  to
• 15:42
  facilitate
• 15:43
  a
• 15:43
  faster
• 15:44
  transaction.
• 15:44
  Okay.
• 15:45
  We
• 15:46
  have
• 15:46
  been
• 15:46
  testing
• 15:47
  and
• 15:48
  by
• 15:48
  we
• 15:48
  meaning
• 15:49
  operators
• 15:50
  have
• 15:50
  been
• 15:50
  testing.
• 15:50
  Yeah.
• 15:51
  Kind
• 15:51
  of
• 15:51
  a
• 15:51
  pre
• 15:52
  scan
• 15:52
  idea.
• 15:53
  And
• 15:53
  so
• 15:53
  within
• 15:53
  that
• 15:54
  we
• 15:54
  do
• 15:54
  it
• 15:54
  within
• 15:54
  warehouse
• 15:55
  mode
• 15:55
  we
• 15:55
  have
• 15:55
  inventory,
• 15:56
  an
• 15:56
  inventory
• 15:56
  lookup
• 15:56
  tool
• 15:57
  that
• 15:57
  was
• 15:57
  launched
• 15:57
  which
• 15:57
  is
• 15:57
  very
• 15:58
  popular
• 15:58
  to
• 15:58
  remember
• 15:58
  so
• 15:59
  you
• 15:59
  can
• 15:59
  actually
• 15:59
  search
• 15:59
  inventory
• 16:00
  and
• 16:00
  prices
• 16:01
  within
• 16:01
  the
• 16:01
  app
• 16:01
  in
• 16:02
  the
• 16:02
  warehouse.
• 16:02
  And
• 16:02
  so
• 16:03
  you
• 16:03
  can
• 16:03
  know.
• 16:03
  Do
• 16:03
  I.
• 16:03
  Is
• 16:03
  it
• 16:03
  in
• 16:04
  this
• 16:04
  warehouse?
• 16:04
  Is
• 16:04
  it
• 16:04
  for
• 16:04
  sale?
• 16:05
  Good
• 16:05
  luck
• 16:05
  finding
• 16:05
  it.
• 16:06
  Yeah,
• 16:06
  we
• 16:07
  don't
• 16:07
  have
• 16:07
  any
• 16:07
  way
• 16:07
  finding
• 16:08
  because
• 16:09
  things
• 16:09
  move
• 16:09
  around
• 16:09
  a
• 16:09
  lot.
• 16:10
  But.
• 16:11
  But
• 16:11
  there
• 16:11
  is
• 16:11
  a
• 16:11
  good
• 16:12
  response
• 16:12
  to
• 16:12
  that.
• 16:12
  I
• 16:12
  think
• 16:12
  we'll
• 16:13
  continue
• 16:13
  to
• 16:13
  innovate
• 16:13
  in
• 16:14
  that
• 16:14
  space.
• 16:15
  And
• 16:15
  what
• 16:15
  that
• 16:15
  does
• 16:15
  is
• 16:16
  like
• 16:16
  we
• 16:16
  don't
• 16:16
  want
• 16:16
  to
• 16:16
  do
• 16:16
  anything
• 16:17
  just
• 16:17
  for
• 16:17
  the
• 16:17
  sake
• 16:17
  of
• 16:18
  selling
• 16:18
  ads.
• 16:18
  Right.
• 16:19
  But
• 16:19
  we
• 16:19
  do
• 16:19
  always
• 16:20
  look
• 16:20
  at
• 16:20
  if
• 16:21
  we
• 16:21
  have
• 16:21
  the
• 16:21
  right
• 16:21
  experience
• 16:22
  that
• 16:22
  is
• 16:22
  driving
• 16:23
  stickiness
• 16:23
  with
• 16:23
  members.
• 16:25
  It's
• 16:25
  giving
• 16:25
  them
• 16:25
  utility
• 16:26
  where
• 16:26
  they're
• 16:26
  like
• 16:26
  I
• 16:26
  like
• 16:27
  this
• 16:27
  feature,
• 16:27
  I
• 16:27
  want
• 16:27
  to
• 16:27
  do
• 16:28
  it.
• 16:28
  Then
• 16:28
  we
• 16:28
  figure
• 16:28
  out
• 16:29
  okay,
• 16:29
  what's
• 16:29
  the
• 16:29
  right
• 16:29
  way
• 16:29
  to
• 16:30
  surface
• 16:30
  personalized
• 16:30
  communication
• 16:31
  with.
• 16:32
  A
• 16:32
  great
• 16:33
  one
• 16:33
  to
• 16:33
  one
• 16:33
  personalization
• 16:34
  tool.
• 16:34
  Yeah.
• 16:34
  At
• 16:34
  the
• 16:34
  end
• 16:34
  of
• 16:34
  the
• 16:35
  day
• 16:35
  the
• 16:35
  app
• 16:36
  is
• 16:36
  about
• 16:36
  as
• 16:36
  intimate
• 16:36
  as
• 16:37
  it
• 16:37
  gets.
• 16:37
  Everyone's
• 16:37
  logged
• 16:38
  in,
• 16:38
  they're
• 16:39
  action
• 16:39
  oriented
• 16:39
  whether
• 16:40
  they're
• 16:40
  shopping
• 16:40
  for.
• 16:41
  For
• 16:41
  an
• 16:41
  E
• 16:41
  commerce
• 16:41
  for
• 16:41
  delivery
• 16:42
  to
• 16:42
  home
• 16:42
  or
• 16:42
  they're
• 16:43
  in
• 16:43
  the
• 16:43
  warehouse
• 16:43
  looking
• 16:43
  to
• 16:44
  transact
• 16:44
  there.
• 16:45
  So
• 16:45
  definitely
• 16:45
  big
• 16:46
  opportunity
• 16:46
  guessing
• 16:46
  they're
• 16:46
  power
• 16:47
  users,
• 16:47
  too.
• 16:47
  Without
• 16:48
  a.
• 16:48
  Yeah.
• 16:49
  Very
• 16:49
  much.
• 16:50
  Right.
• 16:50
  Yeah.
• 16:50
  Well,
• 16:50
  Mark,
• 16:51
  thank
• 16:51
  you,
• 16:51
  man.
• 16:51
  This
• 16:52
  was
• 16:52
  great.
• 16:52
  Great.
• 16:52
  Love
• 16:53
  having
• 16:53
  you.
• 16:53
  I'm
• 16:53
  gonna
• 16:53
  book
• 16:54
  you
• 16:54
  in
• 16:54
  for
• 16:54
  next
• 16:54
  year
• 16:54
  already.
• 16:55
  I
• 16:55
  think,
• 16:55
  if
• 16:55
  we
• 16:55
  can.
• 16:55
  If
• 16:56
  we
• 16:56
  can
• 16:56
  get
• 16:56
  on
• 16:56
  your
• 16:56
  calendar
• 16:57
  for
• 16:57
  next
• 16:57
  year.
• 16:57
  I'll
• 16:58
  send
• 16:59
  you
• 16:59
  the
• 16:59
  invite
• 16:59
  here.
• 16:59
  But
• 17:00
  again,
• 17:00
  Mark
• 17:00
  Williamson
• 17:01
  of
• 17:01
  Costco,
• 17:01
  thanks
• 17:02
  for
• 17:02
  joining
• 17:02
  us.
• 17:03
  Thanks
• 17:04
  to
• 17:04
  Vuzion
• 17:05
  for
• 17:05
  sponsoring
• 17:05
  our
• 17:05
  coverage
• 17:06
  here
• 17:06
  at
• 17:06
  NRF
• 17:07
  2026.
• 17:07
  Again,
• 17:08
  booth
• 17:08
  4921.
• 17:09
  And
• 17:10
  until
• 17:10
  next
• 17:10
  time,
• 17:11
  be
• 17:11
  careful
• 17:11
  out
• 17:11
  there.