Latest / Omni Talk Retail / Walmart’s Bait & Switch 2, Costco Gas & More Grocery Sound & Fury From Amazon | Fast Five

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Walmart’s Bait & Switch 2, Costco Gas & More Grocery Sound & Fury From Amazon | Fast Five · Omni Talk Retail

• 0:00
  The
• 0:00
  Omnich
• 0:01
  Fast
• 0:01
  5
• 0:01
  is
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  brought
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  to
• 0:02
  you
• 0:02
  by
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  the
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  A
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  and
• 0:03
  M
• 0:03
  Consumer
• 0:03
  and
• 0:03
  Retail
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  Group.
• 0:04
  The
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  A
• 0:05
  and
• 0:05
  M
• 0:05
  Consumer
• 0:05
  and
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  Retail
• 0:06
  Group
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  a
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  companies
• 0:19
  be
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  on
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• 0:27
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• 0:27
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• 0:28
  streams
• 0:28
  with
• 0:28
  marketplaces,
• 0:29
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• 0:29
  and
• 0:30
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  media
• 0:30
  and
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• 1:03
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  every
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• 1:38
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• 1:38
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• 1:39
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• 1:39
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• 1:39
  helping
• 1:39
  early
• 1:40
  stage
• 1:40
  consumer
• 1:40
  businesses
• 1:41
  succeed
• 1:41
  through
• 1:42
  investment
• 1:42
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• 1:42
  operational
• 1:43
  support.
• 1:44
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• 1:44
  more@ocampo
• 1:45
  capital.com
• 1:47
  hello,
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• 1:47
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• 1:47
  listening
• 1:48
  to
• 1:48
  Omnitox
• 1:49
  Retail
• 1:49
  Fast
• 1:49
  Five
• 1:50
  ranked
• 1:50
  in
• 1:50
  the
• 1:50
  top
• 1:50
  10%
• 1:51
  of
• 1:51
  all
• 1:51
  podcasts
• 1:52
  globally
• 1:52
  and
• 1:52
  currently
• 1:53
  the
• 1:53
  only
• 1:54
  retail
• 1:54
  podcast
• 1:55
  ranked
• 1:55
  in
• 1:55
  the
• 1:55
  top
• 1:56
  100
• 1:56
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• 1:56
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• 1:56
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• 1:57
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• 1:57
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• 1:58
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• 1:58
  The
• 1:58
  Retail
• 1:59
  Fast
• 1:59
  Five
• 1:59
  is
• 1:59
  the
• 1:59
  podcast
• 2:00
  that
• 2:00
  we
• 2:00
  hope
• 2:00
  makes
• 2:00
  you
• 2:00
  feel
• 2:01
  a
• 2:01
  little
• 2:01
  smarter,
• 2:02
  but
• 2:02
  most
• 2:02
  importantly,
• 2:03
  a
• 2:03
  little
• 2:03
  happier
• 2:03
  year
• 2:04
  each
• 2:04
  week
• 2:04
  too.
• 2:04
  And
• 2:05
  the
• 2:05
  Fast
• 2:05
  5
• 2:05
  is
• 2:05
  just
• 2:06
  one
• 2:06
  of
• 2:06
  the
• 2:06
  many
• 2:06
  great
• 2:06
  podcasts
• 2:07
  that
• 2:07
  you
• 2:07
  can
• 2:07
  find
• 2:08
  from
• 2:08
  the
• 2:08
  Omnitalk
• 2:09
  Retail
• 2:09
  Podcast
• 2:09
  Network
• 2:10
  alongside
• 2:10
  our
• 2:11
  Retail
• 2:11
  Daily
• 2:11
  Minute,
• 2:12
  which
• 2:12
  brings
• 2:12
  you
• 2:12
  a
• 2:12
  curated
• 2:13
  selection
• 2:13
  of
• 2:13
  the
• 2:13
  most
• 2:13
  important
• 2:14
  retail
• 2:14
  headlines
• 2:15
  every
• 2:15
  morning
• 2:16
  and
• 2:16
  our
• 2:16
  Retail
• 2:16
  Technology
• 2:17
  Spotlight
• 2:17
  series,
• 2:18
  which
• 2:18
  goes
• 2:18
  deep
• 2:18
  each
• 2:19
  week
• 2:19
  on
• 2:19
  the
• 2:19
  latest
• 2:20
  retail
• 2:20
  technology
• 2:21
  Trends.
• 2:21
  Today
• 2:22
  is
• 2:22
  June
• 2:23
  18,
• 2:23
  2025.
• 2:24
  I'm
• 2:24
  one
• 2:24
  of
• 2:24
  your
• 2:25
  hosts,
• 2:25
  Anne
• 2:25
  Mazinga.
• 2:26
  And
• 2:26
  I
• 2:27
  think
• 2:27
  I'm
• 2:27
  still
• 2:27
  Chris
• 2:27
  Walton.
• 2:28
  And
• 2:29
  we're
• 2:29
  here
• 2:29
  once
• 2:29
  again
• 2:30
  to
• 2:30
  discuss
• 2:30
  all
• 2:30
  the
• 2:30
  top
• 2:31
  headlines
• 2:31
  from
• 2:31
  the
• 2:31
  past
• 2:32
  week.
• 2:32
  Making
• 2:32
  waves
• 2:33
  in
• 2:33
  the
• 2:33
  world
• 2:33
  of
• 2:33
  omnichannel
• 2:34
  retail.
• 2:35
  And
• 2:35
  today
• 2:36
  we're
• 2:36
  joined
• 2:36
  by
• 2:37
  the
• 2:37
  dynamic
• 2:37
  duo
• 2:38
  of
• 2:38
  Brooks
• 2:38
  Lovering
• 2:39
  and
• 2:39
  Bryson
• 2:40
  Waterman
• 2:40
  from
• 2:41
  the
• 2:41
  Alvarez
• 2:41
  and
• 2:41
  Marcel
• 2:42
  consumer
• 2:43
  and
• 2:43
  retail
• 2:43
  group
• 2:43
  for
• 2:44
  their
• 2:44
  regularly
• 2:45
  scheduled
• 2:45
  monthly
• 2:46
  appearance.
• 2:47
  Welcome,
• 2:47
  you
• 2:48
  two.
• 2:48
  Are
• 2:48
  you
• 2:48
  excited
• 2:49
  to
• 2:49
  be
• 2:49
  on
• 2:49
  the
• 2:50
  show?
• 2:50
  Kicking
• 2:50
  off
• 2:50
  your
• 2:51
  Wednesday
• 2:51
  morning
• 2:51
  with
• 2:52
  Omnich
• 2:52
  Retail.
• 2:53
  So
• 2:53
  excited
• 2:53
  to
• 2:54
  be
• 2:54
  here.
• 2:54
  Thank
• 2:54
  you
• 2:54
  for
• 2:54
  having
• 2:54
  us.
• 2:55
  It's
• 2:55
  going
• 2:55
  to
• 2:55
  be
• 2:55
  a
• 2:55
  great
• 2:55
  conversation,
• 2:56
  so
• 2:56
  really
• 2:56
  looking
• 2:56
  forward
• 2:57
  to
• 2:57
  it.
• 2:57
  Good,
• 2:58
  good.
• 2:59
  Well,
• 2:59
  Bryson,
• 2:59
  you're.
• 3:00
  You're
• 3:00
  a
• 3:00
  first
• 3:00
  timer
• 3:01
  here
• 3:01
  on
• 3:01
  the
• 3:02
  Fast
• 3:02
  five,
• 3:02
  so
• 3:03
  why
• 3:03
  don't
• 3:04
  you
• 3:04
  give
• 3:04
  our
• 3:05
  audience
• 3:05
  a
• 3:05
  little
• 3:05
  bit
• 3:05
  of
• 3:05
  your
• 3:06
  background
• 3:06
  and
• 3:07
  your
• 3:07
  current
• 3:07
  role
• 3:07
  at
• 3:08
  am.
• 3:09
  Yeah,
• 3:09
  I
• 3:09
  am
• 3:09
  longtime
• 3:10
  listener,
• 3:10
  first
• 3:10
  time
• 3:10
  talker,
• 3:11
  so
• 3:11
  again,
• 3:11
  appreciate
• 3:12
  the
• 3:12
  invite.
• 3:12
  Looking
• 3:13
  forward
• 3:13
  to
• 3:13
  the
• 3:13
  discussion
• 3:14
  today
• 3:14
  too.
• 3:15
  Yeah.
• 3:15
  So
• 3:15
  I've
• 3:15
  been
• 3:15
  with
• 3:16
  Alvarez
• 3:16
  and
• 3:16
  Marcel
• 3:16
  now
• 3:17
  for
• 3:17
  three
• 3:17
  years.
• 3:17
  I'm
• 3:18
  a
• 3:18
  senior
• 3:18
  director
• 3:18
  in
• 3:18
  our
• 3:18
  consumer
• 3:19
  and
• 3:19
  retail
• 3:19
  practice.
• 3:20
  Prior
• 3:21
  to
• 3:21
  that,
• 3:21
  spent
• 3:22
  an
• 3:22
  additional
• 3:22
  11
• 3:22
  years
• 3:23
  in
• 3:23
  consulting
• 3:23
  with
• 3:24
  another
• 3:24
  firm,
• 3:24
  all
• 3:24
  focused
• 3:25
  on
• 3:25
  consumer
• 3:25
  and
• 3:25
  retail.
• 3:27
  And
• 3:27
  really
• 3:27
  kind
• 3:27
  of
• 3:27
  the
• 3:27
  work
• 3:28
  that
• 3:28
  I'm
• 3:28
  most
• 3:28
  passionate
• 3:28
  about
• 3:29
  is
• 3:29
  really
• 3:29
  driving
• 3:29
  top
• 3:30
  line
• 3:30
  transformation.
• 3:31
  So
• 3:31
  really
• 3:31
  getting
• 3:31
  into
• 3:32
  the
• 3:32
  sales
• 3:33
  as
• 3:34
  well
• 3:34
  as
• 3:34
  the
• 3:34
  marketing
• 3:35
  organization
• 3:35
  and
• 3:35
  helping
• 3:35
  drive
• 3:36
  efficiencies
• 3:36
  there.
• 3:38
  In
• 3:38
  that
• 3:38
  14
• 3:39
  years,
• 3:39
  I've
• 3:39
  really
• 3:40
  focused
• 3:40
  on
• 3:40
  retail
• 3:41
  as
• 3:41
  well
• 3:42
  as,
• 3:42
  you
• 3:42
  know,
• 3:43
  going
• 3:43
  deeper
• 3:43
  into
• 3:43
  the
• 3:43
  beverage
• 3:44
  alcohol
• 3:44
  sector
• 3:44
  as
• 3:45
  well.
• 3:45
  So
• 3:45
  a
• 3:45
  little
• 3:45
  bit
• 3:45
  of
• 3:45
  cross
• 3:45
  pollination
• 3:46
  between
• 3:46
  retail
• 3:47
  and
• 3:47
  the
• 3:47
  CPG
• 3:48
  side.
• 3:48
  And
• 3:49
  then
• 3:49
  prior
• 3:49
  to
• 3:49
  that,
• 3:50
  spent
• 3:50
  10
• 3:50
  years
• 3:50
  in
• 3:51
  grocery
• 3:51
  retail
• 3:51
  where
• 3:52
  I
• 3:52
  had
• 3:52
  responsibilities
• 3:53
  around
• 3:53
  category
• 3:53
  management,
• 3:54
  pricing
• 3:55
  and
• 3:55
  revenue.
• 3:55
  Optimization
• 3:56
  and,
• 3:57
  and
• 3:57
  fun
• 3:57
  fact,
• 3:58
  too.
• 3:58
  And
• 3:58
  we
• 3:58
  just
• 3:59
  learned
• 3:59
  before
• 3:59
  the
• 3:59
  show
• 3:59
  that
• 4:00
  Bryson
• 4:00
  and
• 4:00
  I,
• 4:00
  Bryson's
• 4:01
  a
• 4:01
  fellow
• 4:01
  Arizonan.
• 4:02
  He
• 4:02
  went
• 4:02
  to
• 4:02
  high
• 4:02
  school
• 4:03
  literally
• 4:03
  within
• 4:03
  like
• 4:03
  four,
• 4:04
  five
• 4:04
  miles
• 4:04
  with
• 4:04
  me
• 4:05
  right
• 4:05
  around
• 4:05
  the
• 4:05
  same
• 4:05
  time.
• 4:06
  So
• 4:06
  we
• 4:07
  have
• 4:07
  a
• 4:07
  lot
• 4:07
  in
• 4:07
  common.
• 4:08
  So
• 4:08
  I
• 4:08
  can't
• 4:09
  wait
• 4:09
  for
• 4:09
  this
• 4:09
  show.
• 4:09
  This
• 4:09
  is
• 4:10
  going
• 4:10
  to
• 4:10
  be
• 4:10
  great.
• 4:10
  Yeah,
• 4:12
  that's
• 4:13
  right.
• 4:13
  And
• 4:13
  yeah,
• 4:13
  we
• 4:13
  just
• 4:13
  learned
• 4:14
  about
• 4:14
  Sparky
• 4:15
  the
• 4:15
  Sun
• 4:15
  Devil
• 4:15
  last
• 4:15
  week.
• 4:16
  So
• 4:16
  we're
• 4:16
  getting.
• 4:17
  If
• 4:17
  there's
• 4:17
  any
• 4:17
  other
• 4:17
  Arizona
• 4:18
  Arizonian,
• 4:19
  Arizonan
• 4:20
  knowledge.
• 4:21
  Yes,
• 4:21
  Arizonan
• 4:22
  knowledge
• 4:22
  that
• 4:23
  we
• 4:23
  need
• 4:23
  to
• 4:23
  have
• 4:24
  dropped
• 4:24
  in
• 4:24
  this
• 4:24
  show,
• 4:25
  please
• 4:26
  feel
• 4:26
  free.
• 4:27
  And
• 4:27
  Bryson
• 4:27
  is
• 4:28
  a
• 4:28
  Sun
• 4:28
  Devil
• 4:28
  too,
• 4:28
  I
• 4:29
  believe,
• 4:29
  right?
• 4:29
  Are
• 4:29
  you
• 4:29
  not?
• 4:30
  Yes,
• 4:30
  that
• 4:30
  is
• 4:30
  correct.
• 4:31
  Go
• 4:31
  Devils.
• 4:31
  Yeah.
• 4:32
  All
• 4:32
  right.
• 4:33
  No
• 4:33
  bear
• 4:33
  down
• 4:33
  comments
• 4:33
  today,
• 4:34
  please.
• 4:34
  No,
• 4:35
  no.
• 4:35
  God,
• 4:35
  no.
• 4:36
  Never.
• 4:36
  Not
• 4:36
  on
• 4:36
  this
• 4:37
  show.
• 4:37
  Okay,
• 4:38
  Brooks,
• 4:39
  let's
• 4:39
  remind
• 4:39
  our
• 4:39
  audience
• 4:40
  you've
• 4:40
  been
• 4:40
  on
• 4:40
  the
• 4:40
  show
• 4:41
  before,
• 4:41
  but
• 4:41
  give
• 4:41
  the
• 4:42
  audience
• 4:42
  a
• 4:42
  quick
• 4:43
  bit
• 4:43
  of
• 4:43
  your
• 4:43
  background
• 4:44
  and
• 4:44
  your
• 4:44
  role
• 4:45
  at
• 4:45
  A
• 4:45
  and
• 4:45
  M,
• 4:45
  please.
• 4:46
  Well,
• 4:46
  hey,
• 4:47
  thanks,
• 4:47
  Ann
• 4:47
  and
• 4:48
  Chris.
• 4:48
  My
• 4:49
  name
• 4:49
  is
• 4:49
  Brooks
• 4:49
  Levering.
• 4:50
  I'm
• 4:50
  a
• 4:50
  managing
• 4:50
  director
• 4:51
  at
• 4:51
  A
• 4:51
  and
• 4:51
  M
• 4:51
  crg.
• 4:53
  And
• 4:53
  by
• 4:53
  the
• 4:53
  way,
• 4:53
  I'm
• 4:54
  just
• 4:54
  thrilled
• 4:54
  to
• 4:54
  be
• 4:54
  back
• 4:55
  with
• 4:55
  you
• 4:56
  today.
• 4:56
  I
• 4:56
  love
• 4:56
  your
• 4:57
  show.
• 4:58
  I
• 4:58
  call
• 4:58
  this
• 4:59
  the
• 4:59
  insider
• 5:00
  baseball
• 5:01
  of
• 5:01
  retail.
• 5:02
  So
• 5:03
  I'm
• 5:03
  thrilled
• 5:03
  to
• 5:03
  be
• 5:03
  invited
• 5:04
  back
• 5:04
  and
• 5:04
  I'm
• 5:05
  delighted
• 5:05
  to
• 5:05
  be
• 5:05
  on
• 5:05
  with
• 5:06
  Bryson.
• 5:06
  Bryson's
• 5:07
  middle
• 5:07
  name
• 5:07
  is
• 5:08
  Grocery.
• 5:08
  I
• 5:08
  want
• 5:09
  you
• 5:09
  to
• 5:09
  know.
• 5:13
  We'Ve
• 5:13
  got
• 5:13
  some
• 5:13
  headlines
• 5:14
  for
• 5:14
  Bryson
• 5:15
  today,
• 5:15
  that's
• 5:15
  for
• 5:16
  sure.
• 5:17
  Well,
• 5:17
  we're
• 5:17
  so
• 5:17
  excited
• 5:17
  to
• 5:18
  have
• 5:18
  you
• 5:18
  both.
• 5:18
  So
• 5:19
  thank
• 5:19
  you
• 5:19
  so
• 5:20
  much
• 5:20
  for,
• 5:20
  for
• 5:21
  being
• 5:21
  here.
• 5:21
  And,
• 5:22
  and
• 5:22
  Chris,
• 5:22
  we
• 5:22
  have
• 5:23
  a,
• 5:23
  we
• 5:23
  have
• 5:23
  an
• 5:23
  announcement
• 5:24
  before
• 5:24
  we
• 5:24
  get
• 5:24
  into
• 5:25
  the
• 5:25
  show.
• 5:25
  I
• 5:25
  believe
• 5:26
  we,
• 5:26
  we
• 5:27
  do.
• 5:27
  And
• 5:27
  we
• 5:27
  have
• 5:27
  to
• 5:27
  announce
• 5:28
  this
• 5:28
  month's
• 5:28
  Omni
• 5:29
  Star.
• 5:29
  Now
• 5:29
  for
• 5:29
  those
• 5:30
  news
• 5:30
  new
• 5:30
  to
• 5:31
  the
• 5:31
  podcast,
• 5:31
  our
• 5:31
  Omnistar
• 5:32
  Award
• 5:32
  is
• 5:32
  the
• 5:32
  award
• 5:33
  we
• 5:33
  give
• 5:33
  out
• 5:33
  each
• 5:33
  month
• 5:34
  in
• 5:34
  partnership
• 5:35
  with
• 5:35
  the
• 5:35
  folks
• 5:35
  at
• 5:35
  Corso
• 5:36
  to
• 5:36
  recognize
• 5:36
  the
• 5:36
  top
• 5:37
  omnichannel
• 5:37
  operators
• 5:38
  out
• 5:38
  there.
• 5:38
  Not
• 5:39
  the
• 5:39
  pundits,
• 5:40
  not
• 5:40
  the
• 5:40
  so
• 5:40
  called
• 5:40
  experts,
• 5:41
  but
• 5:41
  the
• 5:41
  real
• 5:42
  life
• 5:42
  retail
• 5:42
  operators
• 5:43
  making
• 5:43
  a
• 5:43
  difference
• 5:44
  in
• 5:44
  their
• 5:44
  organizations.
• 5:46
  Corso's
• 5:46
  AI
• 5:46
  copilot
• 5:47
  coaches
• 5:47
  retail
• 5:48
  leaders
• 5:48
  to
• 5:48
  optimize
• 5:48
  store
• 5:49
  performance
• 5:49
  at
• 5:49
  every
• 5:50
  level,
• 5:50
  transform
• 5:51
  retail
• 5:51
  operations
• 5:52
  from
• 5:52
  data
• 5:52
  overload
• 5:53
  into
• 5:54
  data
• 5:54
  powered
• 5:55
  with
• 5:55
  Corso.
• 5:56
  And
• 5:56
  this
• 5:56
  month
• 5:57
  we
• 5:57
  have
• 5:57
  an
• 5:57
  Omni
• 5:58
  Talk
• 5:58
  first,
• 5:58
  Ann
• 5:59
  and
• 5:59
  Bryson
• 6:00
  and
• 6:00
  Brooks
• 6:00
  because.
• 6:01
  Yes,
• 6:01
  and
• 6:02
  a
• 6:02
  first
• 6:02
  because
• 6:03
  we're
• 6:03
  giving
• 6:03
  the
• 6:03
  award
• 6:04
  to
• 6:04
  not
• 6:04
  one,
• 6:05
  but
• 6:05
  two
• 6:06
  Omni
• 6:06
  stars.
• 6:07
  I
• 6:07
  know,
• 6:07
  right?
• 6:07
  Cancel
• 6:08
  Christmas
• 6:09
  and
• 6:09
  yeah,
• 6:10
  new
• 6:10
  award
• 6:11
  winners
• 6:11
  in
• 6:11
  one
• 6:11
  month.
• 6:11
  I
• 6:12
  know.
• 6:12
  What
• 6:12
  are
• 6:12
  we
• 6:12
  going
• 6:12
  to
• 6:12
  do?
• 6:12
  How
• 6:13
  are
• 6:13
  we
• 6:13
  going
• 6:13
  to
• 6:13
  top
• 6:13
  that?
• 6:13
  I
• 6:14
  have
• 6:14
  no
• 6:14
  idea.
• 6:15
  This
• 6:15
  month's
• 6:15
  award
• 6:16
  goes
• 6:16
  to
• 6:16
  Emma
• 6:16
  Blixed
• 6:17
  and
• 6:17
  Finn
• 6:18
  Lagarde
• 6:18
  Kopert,
• 6:19
  both
• 6:19
  of
• 6:20
  Circle
• 6:20
  K.
• 6:21
  Emma
• 6:21
  is
• 6:22
  the
• 6:22
  Senior
• 6:22
  Specialist
• 6:23
  for
• 6:23
  Business
• 6:23
  Development
• 6:24
  and
• 6:24
  Projects
• 6:25
  Operational
• 6:25
  Excellence
• 6:26
  for
• 6:26
  Europe.
• 6:27
  And
• 6:27
  Finn
• 6:27
  is
• 6:27
  the
• 6:28
  Head
• 6:28
  of
• 6:28
  Operational
• 6:29
  Excellence
• 6:29
  also
• 6:29
  for
• 6:30
  Europe.
• 6:30
  Emma
• 6:31
  and
• 6:31
  Finn
• 6:31
  just
• 6:31
  rolled
• 6:32
  out
• 6:32
  Corso's
• 6:32
  intelligence
• 6:33
  store
• 6:33
  management
• 6:34
  Solution
• 6:34
  in
• 6:34
  over
• 6:34
  3000
• 6:35
  stores
• 6:36
  as
• 6:36
  part
• 6:36
  of
• 6:36
  a
• 6:36
  much
• 6:37
  wider
• 6:37
  project
• 6:37
  initiative
• 6:38
  at
• 6:38
  Circle
• 6:38
  K.
• 6:39
  Which
• 6:39
  means
• 6:39
  Emma
• 6:40
  and
• 6:40
  Finn
• 6:41
  are
• 6:41
  the
• 6:41
  definition
• 6:41
  of
• 6:42
  an
• 6:42
  Omnistar
• 6:43
  because
• 6:43
  they
• 6:43
  are
• 6:43
  working
• 6:43
  hard
• 6:44
  to
• 6:44
  put
• 6:44
  store
• 6:44
  employees
• 6:45
  first
• 6:46
  and
• 6:46
  to
• 6:46
  give
• 6:46
  them
• 6:46
  the
• 6:46
  tools
• 6:47
  they
• 6:47
  need
• 6:47
  to
• 6:48
  succeed
• 6:48
  in
• 6:49
  this
• 6:49
  digital
• 6:49
  first
• 6:50
  world.
• 6:50
  So
• 6:50
  congrats
• 6:51
  to
• 6:51
  Emma
• 6:52
  and
• 6:52
  Finn.
• 6:53
  All
• 6:53
  right,
• 6:53
  and
• 6:53
  let's
• 6:54
  get
• 6:54
  to
• 6:54
  the
• 6:54
  headlines.
• 6:54
  In
• 6:55
  this
• 6:55
  week's
• 6:55
  Fast5.
• 6:56
  We've
• 6:56
  got
• 6:56
  news
• 6:57
  on
• 6:57
  Amazon
• 6:58
  restructuring
• 6:59
  its
• 6:59
  grocery
• 6:59
  leadership
• 7:00
  again.
• 7:01
  H
• 7:02
  and
• 7:02
  M
• 7:02
  betting
• 7:02
  on
• 7:02
  AI
• 7:03
  upgrades
• 7:03
  within
• 7:03
  its
• 7:04
  stores.
• 7:05
  Albertsons
• 7:05
  going
• 7:06
  all
• 7:06
  in
• 7:06
  on
• 7:06
  in
• 7:07
  store
• 7:07
  digital
• 7:07
  displays,
• 7:08
  Costco
• 7:09
  building
• 7:09
  its
• 7:09
  first
• 7:10
  ever
• 7:10
  standalone
• 7:11
  gas
• 7:11
  station.
• 7:12
  And
• 7:12
  Lowe's
• 7:13
  VP
• 7:13
  of
• 7:13
  Marketplaces
• 7:14
  Michael
• 7:14
  McCluskey
• 7:15
  stops
• 7:16
  by
• 7:16
  for
• 7:16
  five
• 7:16
  insightful
• 7:17
  minutes
• 7:17
  to
• 7:17
  give
• 7:17
  us
• 7:17
  the
• 7:18
  411
• 7:19
  on
• 7:19
  why
• 7:19
  he
• 7:19
  and
• 7:20
  Lowe's
• 7:20
  think
• 7:20
  the
• 7:20
  time
• 7:21
  is
• 7:21
  right
• 7:21
  to
• 7:21
  build
• 7:22
  out
• 7:22
  their
• 7:22
  own
• 7:22
  marketplace.
• 7:23
  But
• 7:24
  we
• 7:24
  begin
• 7:24
  today
• 7:24
  with
• 7:25
  big
• 7:25
  news
• 7:25
  out
• 7:26
  of
• 7:26
  Walmart
• 7:26
  and
• 7:27
  yes,
• 7:28
  that's
• 7:28
  right
• 7:28
  you
• 7:28
  guys.
• 7:29
  Walmart
• 7:29
  decided
• 7:29
  to
• 7:30
  try
• 7:30
  something
• 7:30
  a
• 7:31
  little
• 7:31
  different
• 7:31
  with
• 7:31
  the
• 7:31
  launch
• 7:32
  of
• 7:32
  Nintendo
• 7:33
  Switch
• 7:33
  2.
• 7:34
  According
• 7:34
  to
• 7:34
  Modern
• 7:35
  Retail,
• 7:35
  Walmart
• 7:35
  delivered
• 7:36
  every
• 7:36
  Nintendo
• 7:37
  Switch
• 7:37
  2
• 7:38
  console
• 7:38
  pre
• 7:39
  ordered
• 7:39
  by
• 7:39
  customers
• 7:40
  by
• 7:40
  9am
• 7:42
  local
• 7:42
  time
• 7:42
  and
• 7:43
  some
• 7:43
  even
• 7:43
  arrived
• 7:44
  as
• 7:44
  early
• 7:44
  as
• 7:45
  7am
• 7:46
  and
• 7:46
  customers
• 7:46
  did
• 7:47
  not
• 7:47
  have
• 7:47
  to
• 7:47
  pay
• 7:48
  for
• 7:48
  the
• 7:48
  extra
• 7:49
  express
• 7:49
  delivery.
• 7:50
  Additionally,
• 7:51
  to
• 7:52
  the
• 7:52
  surprise
• 7:52
  of
• 7:52
  shoppers,
• 7:53
  some
• 7:53
  of
• 7:53
  whom
• 7:54
  shared
• 7:54
  on
• 7:54
  social
• 7:54
  media,
• 7:55
  the
• 7:55
  retailer
• 7:55
  included
• 7:56
  Coca
• 7:56
  Cola
• 7:57
  bottles
• 7:57
  and
• 7:57
  Pringles
• 7:57
  chips
• 7:58
  alongside
• 7:58
  the
• 7:59
  consoles
• 7:59
  for
• 7:59
  free
• 8:00
  as
• 8:00
  an
• 8:00
  extra
• 8:01
  wow
• 8:01
  factor.
• 8:02
  David
• 8:02
  Gurgina,
• 8:03
  the
• 8:03
  EVP
• 8:04
  and
• 8:04
  Chief
• 8:04
  e
• 8:04
  commerce
• 8:05
  Officer
• 8:05
  for
• 8:05
  Walmart
• 8:06
  US
• 8:06
  said
• 8:06
  the
• 8:06
  company
• 8:06
  wanted
• 8:07
  to
• 8:07
  use
• 8:07
  the
• 8:07
  launch
• 8:07
  to
• 8:08
  bring
• 8:08
  awareness
• 8:08
  of
• 8:08
  how
• 8:09
  quickly
• 8:09
  the
• 8:09
  company
• 8:09
  can
• 8:09
  deliver
• 8:10
  food
• 8:10
  items
• 8:10
  while
• 8:11
  alongside
• 8:11
  general
• 8:12
  merchandise.
• 8:13
  Brooks,
• 8:13
  we're
• 8:13
  going
• 8:14
  to
• 8:14
  you
• 8:14
  first
• 8:14
  on
• 8:14
  this
• 8:14
  one.
• 8:15
  I
• 8:15
  can't
• 8:15
  wait
• 8:15
  to
• 8:15
  hear
• 8:16
  what
• 8:16
  you
• 8:16
  have
• 8:16
  to
• 8:16
  say.
• 8:17
  With
• 8:17
  the
• 8:18
  unique
• 8:18
  approach
• 8:18
  to
• 8:19
  the
• 8:19
  Nintendo
• 8:20
  Switch
• 8:20
  to
• 8:20
  launch,
• 8:21
  has
• 8:22
  Walmart
• 8:22
  forever
• 8:23
  changed
• 8:23
  the
• 8:24
  merchandising
• 8:24
  game
• 8:25
  around
• 8:25
  hot
• 8:25
  new
• 8:26
  product
• 8:26
  releases?
• 8:28
  Well,
• 8:28
  and
• 8:29
  you
• 8:29
  had
• 8:29
  me
• 8:29
  at
• 8:29
  free
• 8:29
  snacks.
• 8:35
  Yes,
• 8:35
  if
• 8:36
  I.
• 8:37
  You
• 8:37
  can't
• 8:37
  stop
• 8:37
  it,
• 8:38
  right,
• 8:38
  Brooks?
• 8:38
  That's
• 8:38
  the
• 8:39
  whole
• 8:39
  tagline,
• 8:39
  right?
• 8:40
  Well,
• 8:40
  you're
• 8:40
  exactly
• 8:41
  right
• 8:41
  about
• 8:41
  that.
• 8:41
  If
• 8:41
  I
• 8:42
  could
• 8:42
  just
• 8:42
  get
• 8:42
  my
• 8:42
  teenagers
• 8:43
  out
• 8:43
  of
• 8:43
  bed
• 8:44
  before
• 8:44
  9am
• 8:44
  to
• 8:45
  pick
• 8:45
  up
• 8:45
  that
• 8:45
  package.
• 8:47
  Somebody
• 8:47
  tell
• 8:48
  me
• 8:48
  that
• 8:48
  secret.
• 8:49
  Even
• 8:49
  7am
• 8:50
  you
• 8:50
  said?
• 8:51
  Yeah,
• 8:51
  this
• 8:51
  might
• 8:52
  be
• 8:52
  motivation
• 8:52
  to
• 8:53
  get
• 8:53
  out
• 8:53
  of
• 8:53
  bed.
• 8:53
  A
• 8:53
  new
• 8:53
  gaming
• 8:54
  console,
• 8:54
  Maybe.
• 8:55
  We'll
• 8:55
  see.
• 8:56
  Something
• 8:57
  feels
• 8:57
  amazingly
• 8:58
  ingenious
• 8:59
  about
• 8:59
  what
• 9:00
  Walmart
• 9:00
  pulled
• 9:01
  off
• 9:01
  here.
• 9:01
  I'll
• 9:02
  be
• 9:02
  eager
• 9:02
  to
• 9:02
  hear
• 9:03
  more
• 9:03
  about
• 9:03
  the
• 9:03
  results
• 9:04
  and
• 9:04
  the
• 9:04
  execution.
• 9:06
  This
• 9:06
  feels
• 9:06
  like
• 9:06
  a
• 9:06
  big
• 9:07
  win
• 9:07
  for
• 9:07
  Walmart.
• 9:08
  Nintendo,
• 9:09
  Coke
• 9:10
  and
• 9:10
  Pringles,
• 9:11
  I'll
• 9:11
  say,
• 9:11
  which
• 9:11
  were
• 9:12
  along
• 9:12
  for
• 9:12
  the
• 9:12
  ride.
• 9:13
  Yep,
• 9:13
  there
• 9:14
  are
• 9:14
  people
• 9:14
  that
• 9:15
  like
• 9:15
  to
• 9:15
  wait
• 9:15
  in
• 9:16
  long
• 9:16
  lines
• 9:17
  for
• 9:17
  a
• 9:17
  launch.
• 9:18
  These
• 9:18
  people
• 9:18
  exist.
• 9:19
  I'm
• 9:19
  not
• 9:20
  one
• 9:20
  of
• 9:20
  them.
• 9:20
  This
• 9:21
  is
• 9:21
  service
• 9:21
  with
• 9:21
  a
• 9:22
  smile.
• 9:22
  Nothing
• 9:23
  pairs
• 9:23
  better
• 9:23
  with
• 9:23
  gaming
• 9:24
  than
• 9:24
  Coke
• 9:24
  and
• 9:24
  Pringles.
• 9:25
  So
• 9:25
  hey,
• 9:26
  kudos
• 9:26
  to
• 9:27
  Walmart
• 9:27
  for
• 9:27
  this
• 9:27
  vision.
• 9:28
  I
• 9:28
  absolutely
• 9:29
  love
• 9:29
  it.
• 9:30
  Yet
• 9:30
  how
• 9:30
  do
• 9:31
  you
• 9:31
  think,
• 9:31
  and
• 9:31
  were
• 9:31
  you
• 9:32
  surprised,
• 9:32
  Brooks,
• 9:33
  that
• 9:33
  Walmart
• 9:33
  was
• 9:33
  the
• 9:33
  one
• 9:34
  to
• 9:34
  kind
• 9:34
  of
• 9:34
  upend
• 9:35
  or
• 9:35
  to
• 9:35
  kind
• 9:35
  of
• 9:35
  change
• 9:36
  the
• 9:36
  merchandising
• 9:36
  game
• 9:37
  around?
• 9:38
  You
• 9:38
  know
• 9:38
  how
• 9:38
  they
• 9:39
  do
• 9:39
  these
• 9:39
  product
• 9:39
  drops?
• 9:41
  Well,
• 9:42
  I've
• 9:42
  loved
• 9:43
  Walmart's
• 9:43
  vision
• 9:44
  the
• 9:44
  last
• 9:44
  couple
• 9:44
  years.
• 9:45
  The
• 9:45
  imagination.
• 9:46
  I
• 9:47
  love
• 9:47
  that
• 9:47
  creativity.
• 9:48
  I
• 9:49
  think
• 9:49
  this
• 9:49
  is
• 9:49
  the
• 9:49
  future.
• 9:50
  I
• 9:50
  think
• 9:51
  it's
• 9:51
  a,
• 9:51
  it's
• 9:51
  a
• 9:51
  game
• 9:52
  changer
• 9:52
  as
• 9:52
  you
• 9:52
  said.
• 9:54
  Chris,
• 9:54
  how
• 9:54
  about
• 9:54
  you?
• 9:55
  You're,
• 9:56
  you're
• 9:56
  one
• 9:56
  of
• 9:56
  the,
• 9:57
  the
• 9:57
  merchants
• 9:57
  of
• 9:57
  the
• 9:58
  group
• 9:58
  here.
• 9:58
  I
• 9:58
  mean,
• 9:58
  how
• 9:59
  much
• 9:59
  of
• 9:59
  an
• 9:59
  impact
• 9:59
  do
• 9:59
  you
• 9:59
  think
• 10:00
  this
• 10:00
  is
• 10:00
  going
• 10:00
  to
• 10:00
  have
• 10:00
  for
• 10:01
  even
• 10:01
  competitors
• 10:02
  in
• 10:02
  the
• 10:02
  space
• 10:02
  who
• 10:03
  are
• 10:03
  all
• 10:03
  trying
• 10:03
  to
• 10:03
  figure
• 10:04
  out
• 10:04
  how
• 10:04
  to
• 10:04
  launch
• 10:05
  these
• 10:05
  products
• 10:05
  in
• 10:06
  new
• 10:06
  and
• 10:06
  exciting
• 10:06
  ways.
• 10:07
  Yeah,
• 10:07
  it's
• 10:08
  a
• 10:08
  great
• 10:08
  question.
• 10:08
  And
• 10:08
  you
• 10:08
  know,
• 10:09
  you
• 10:09
  know,
• 10:09
  having
• 10:09
  been,
• 10:10
  you
• 10:10
  know,
• 10:10
  live
• 10:10
  in
• 10:11
  the
• 10:11
  war
• 10:11
  rooms
• 10:11
  during
• 10:11
  these
• 10:11
  product
• 10:12
  launches
• 10:12
  back
• 10:12
  in
• 10:12
  my
• 10:13
  Target
• 10:13
  days,
• 10:13
  you
• 10:13
  know,
• 10:14
  I
• 10:14
  think
• 10:14
  100%,
• 10:15
  yes,
• 10:15
  I
• 10:15
  think
• 10:15
  Brooks
• 10:15
  is
• 10:16
  right.
• 10:16
  This
• 10:16
  has
• 10:16
  changed
• 10:17
  the
• 10:17
  game
• 10:17
  forever.
• 10:18
  And
• 10:18
  the
• 10:18
  reason
• 10:18
  I
• 10:18
  say
• 10:19
  that
• 10:19
  is
• 10:19
  because
• 10:19
  retail
• 10:19
  retailers
• 10:20
  are
• 10:20
  creatures
• 10:20
  of
• 10:20
  habit.
• 10:21
  They
• 10:21
  don't,
• 10:21
  they
• 10:22
  don't
• 10:22
  do
• 10:22
  anything
• 10:22
  until
• 10:22
  they
• 10:23
  see
• 10:23
  somebody
• 10:23
  else
• 10:23
  do
• 10:23
  it
• 10:24
  and
• 10:24
  do
• 10:24
  it
• 10:24
  successfully
• 10:24
  and
• 10:25
  then
• 10:25
  they
• 10:25
  all
• 10:25
  follow
• 10:26
  suit
• 10:26
  almost
• 10:26
  like
• 10:26
  lemmings
• 10:27
  to
• 10:27
  a
• 10:27
  point.
• 10:28
  And
• 10:28
  so
• 10:29
  that's
• 10:29
  what
• 10:29
  this
• 10:29
  is
• 10:30
  about.
• 10:30
  You
• 10:30
  know,
• 10:30
  it's
• 10:31
  a,
• 10:31
  it's
• 10:31
  an
• 10:32
  approach,
• 10:32
  I
• 10:32
  mean,
• 10:32
  Brooks
• 10:32
  hit
• 10:33
  on
• 10:33
  a
• 10:33
  little
• 10:33
  bit.
• 10:33
  It's
• 10:33
  an
• 10:33
  approach
• 10:33
  that
• 10:34
  beats
• 10:34
  standing
• 10:34
  in
• 10:35
  line
• 10:35
  and
• 10:35
  getting
• 10:36
  to
• 10:36
  the
• 10:36
  store
• 10:36
  only
• 10:36
  to
• 10:36
  be
• 10:37
  disappointed
• 10:37
  to
• 10:38
  find
• 10:38
  out,
• 10:38
  you
• 10:39
  know,
• 10:39
  that
• 10:39
  what
• 10:39
  you
• 10:39
  wanted
• 10:40
  to
• 10:40
  get
• 10:40
  is
• 10:40
  no
• 10:40
  longer
• 10:41
  available
• 10:41
  or
• 10:41
  even
• 10:42
  to
• 10:42
  go
• 10:42
  into
• 10:42
  the
• 10:42
  store
• 10:42
  to
• 10:42
  pick
• 10:43
  up
• 10:43
  your
• 10:43
  pre
• 10:43
  order.
• 10:44
  So.
• 10:44
  Yeah,
• 10:44
  and
• 10:44
  then
• 10:45
  you
• 10:45
  get
• 10:45
  the
• 10:45
  extra
• 10:45
  surprises
• 10:46
  of
• 10:46
  Coke
• 10:46
  and
• 10:46
  Pringles
• 10:47
  to
• 10:47
  boot.
• 10:47
  So
• 10:48
  yes,
• 10:48
  my
• 10:48
  guess
• 10:49
  is
• 10:49
  the
• 10:49
  rest
• 10:49
  of
• 10:49
  industry
• 10:50
  and
• 10:50
  really
• 10:50
  the
• 10:50
  only
• 10:50
  players
• 10:51
  we're
• 10:51
  talking
• 10:51
  about
• 10:51
  in
• 10:51
  this
• 10:52
  space
• 10:52
  are
• 10:52
  our
• 10:53
  Best
• 10:53
  Buy,
• 10:53
  Target,
• 10:54
  used
• 10:54
  to
• 10:54
  be
• 10:54
  GameStop.
• 10:55
  I
• 10:55
  don't
• 10:55
  know
• 10:55
  how
• 10:55
  much
• 10:55
  they're
• 10:56
  still
• 10:56
  in
• 10:56
  this
• 10:56
  game,
• 10:56
  but,
• 10:57
  but
• 10:57
  really
• 10:57
  that's
• 10:58
  who
• 10:58
  we're
• 10:58
  talking
• 10:58
  about.
• 10:58
  And
• 10:58
  I
• 10:59
  wouldn't
• 10:59
  be
• 10:59
  surprised
• 10:59
  if
• 10:59
  the
• 10:59
  next
• 11:00
  time
• 11:00
  this
• 11:00
  comes
• 11:00
  around,
• 11:01
  all
• 11:01
  of
• 11:01
  them
• 11:01
  are
• 11:01
  going
• 11:02
  to
• 11:02
  do
• 11:02
  something
• 11:02
  very,
• 11:03
  very
• 11:03
  similar.
• 11:04
  Yeah,
• 11:04
  especially
• 11:04
  with
• 11:04
  a
• 11:05
  category
• 11:05
  that
• 11:05
  is
• 11:06
  really
• 11:06
  one
• 11:06
  of
• 11:06
  the
• 11:06
  things
• 11:07
  that's,
• 11:07
  that
• 11:07
  had
• 11:08
  been
• 11:08
  really
• 11:08
  driving
• 11:08
  people
• 11:09
  to
• 11:09
  stores.
• 11:09
  Like
• 11:09
  it
• 11:10
  was
• 11:10
  so
• 11:10
  important
• 11:10
  for
• 11:11
  people
• 11:11
  to
• 11:11
  have
• 11:11
  these
• 11:12
  product
• 11:12
  drops.
• 11:13
  Bryson,
• 11:14
  what
• 11:14
  are
• 11:14
  your
• 11:15
  thoughts
• 11:15
  here?
• 11:15
  I
• 11:15
  mean,
• 11:15
  what
• 11:15
  do
• 11:16
  you
• 11:16
  think
• 11:16
  about
• 11:16
  how
• 11:17
  this
• 11:17
  is
• 11:17
  going
• 11:17
  to
• 11:17
  change,
• 11:18
  like
• 11:18
  what
• 11:18
  Chris
• 11:18
  said,
• 11:19
  how
• 11:19
  maybe
• 11:19
  even
• 11:19
  Target
• 11:20
  or
• 11:20
  you
• 11:21
  know,
• 11:21
  some
• 11:21
  other
• 11:21
  retailers,
• 11:22
  Best
• 11:22
  Buy,
• 11:23
  start
• 11:23
  to
• 11:23
  market
• 11:24
  these
• 11:24
  product
• 11:24
  drops?
• 11:25
  Yeah,
• 11:26
  no,
• 11:26
  I,
• 11:26
  I
• 11:26
  think
• 11:26
  it's
• 11:27
  the,
• 11:27
  the
• 11:27
  change
• 11:27
  is
• 11:27
  going
• 11:28
  to
• 11:28
  be
• 11:28
  meaningful
• 11:28
  and
• 11:28
  significant
• 11:29
  and
• 11:29
  I
• 11:29
  think
• 11:29
  swift
• 11:30
  as
• 11:30
  well.
• 11:30
  I
• 11:30
  think
• 11:30
  just
• 11:31
  given
• 11:31
  the
• 11:31
  success
• 11:31
  that
• 11:32
  Walmart
• 11:32
  achieved
• 11:33
  in
• 11:33
  this
• 11:33
  drop,
• 11:33
  not
• 11:34
  only
• 11:34
  with
• 11:34
  the
• 11:34
  surprise
• 11:35
  and
• 11:35
  delight
• 11:35
  of
• 11:35
  their,
• 11:36
  you
• 11:36
  know,
• 11:36
  customers
• 11:36
  that
• 11:36
  participated,
• 11:37
  but
• 11:37
  also
• 11:37
  the
• 11:37
  word
• 11:38
  of
• 11:38
  mouth
• 11:38
  buzz
• 11:38
  that
• 11:38
  was
• 11:39
  generated
• 11:39
  through
• 11:39
  this.
• 11:40
  Right.
• 11:40
  On
• 11:40
  platforms
• 11:41
  where
• 11:41
  you
• 11:41
  traditionally
• 11:42
  don't
• 11:42
  see
• 11:42
  Walmart
• 11:43
  indexing,
• 11:43
  right.
• 11:43
  The
• 11:43
  gaming
• 11:44
  platforms
• 11:44
  where
• 11:44
  this,
• 11:45
  these
• 11:45
  cohorts
• 11:45
  engage,
• 11:46
  so
• 11:47
  the
• 11:47
  word
• 11:47
  of
• 11:47
  mouth,
• 11:47
  the
• 11:47
  positivity
• 11:48
  you
• 11:48
  achieve
• 11:48
  through
• 11:49
  it.
• 11:49
  But
• 11:49
  then
• 11:49
  I
• 11:49
  think
• 11:49
  also
• 11:49
  too
• 11:50
  then
• 11:50
  flipping
• 11:50
  over
• 11:50
  to
• 11:51
  the
• 11:51
  brand
• 11:51
  side,
• 11:51
  really
• 11:52
  that
• 11:52
  coveted
• 11:52
  access
• 11:53
  to,
• 11:53
  you
• 11:53
  know,
• 11:54
  those
• 11:54
  consumer
• 11:54
  insights
• 11:55
  and
• 11:55
  really
• 11:55
  that
• 11:56
  deep
• 11:56
  meaning
• 11:56
  the
• 11:56
  ability
• 11:57
  to
• 11:57
  establish
• 11:57
  that
• 11:57
  deep,
• 11:58
  meaningful
• 11:58
  connection
• 11:59
  one
• 11:59
  on
• 11:59
  one
• 12:00
  where
• 12:00
  brands
• 12:00
  are
• 12:00
  struggling
• 12:01
  with
• 12:01
  you
• 12:01
  know,
• 12:02
  competing
• 12:02
  with
• 12:02
  share
• 12:02
  of
• 12:03
  mind
• 12:03
  with
• 12:03
  their
• 12:04
  consumers
• 12:04
  obviously,
• 12:05
  you
• 12:05
  know,
• 12:05
  reducing
• 12:07
  assortments
• 12:08
  in
• 12:08
  store,
• 12:09
  competing
• 12:09
  for
• 12:10
  offline
• 12:10
  purchases
• 12:11
  and
• 12:11
  elsewhere.
• 12:11
  So
• 12:12
  for
• 12:12
  Walmart
• 12:12
  to
• 12:13
  you
• 12:13
  know,
• 12:13
  bridge
• 12:13
  that
• 12:13
  gap
• 12:14
  and
• 12:14
  not
• 12:14
  only
• 12:15
  identify
• 12:15
  a
• 12:15
  key
• 12:16
  cohort
• 12:16
  that
• 12:17
  is
• 12:17
  vitally
• 12:17
  important
• 12:17
  to
• 12:18
  Coca
• 12:18
  Cola,
• 12:18
  Pringles
• 12:19
  and
• 12:19
  other
• 12:19
  brands
• 12:20
  and
• 12:20
  then
• 12:20
  be
• 12:20
  able
• 12:21
  to
• 12:21
  make
• 12:21
  that
• 12:21
  connection,
• 12:21
  I
• 12:22
  think
• 12:22
  is
• 12:22
  a
• 12:22
  huge
• 12:22
  win
• 12:23
  and
• 12:23
  you're
• 12:23
  going
• 12:23
  to
• 12:23
  see
• 12:23
  much
• 12:23
  more
• 12:24
  excitement
• 12:24
  and
• 12:24
  actually
• 12:25
  now
• 12:25
  brands
• 12:26
  starting
• 12:26
  to
• 12:26
  pull
• 12:26
  and
• 12:26
  push
• 12:27
  and
• 12:27
  setting
• 12:27
  that
• 12:28
  expectation.
• 12:28
  So
• 12:29
  I
• 12:29
  think,
• 12:29
  you
• 12:29
  know,
• 12:30
  could
• 12:30
  be
• 12:30
  a
• 12:30
  little
• 12:30
  bit
• 12:30
  of
• 12:30
  a,
• 12:31
  you
• 12:31
  know,
• 12:31
  the
• 12:32
  genie's
• 12:32
  out
• 12:32
  of
• 12:32
  the
• 12:32
  bottle
• 12:33
  so
• 12:33
  be
• 12:33
  careful
• 12:33
  what
• 12:33
  you
• 12:33
  wait
• 12:34
  for.
• 12:34
  But
• 12:34
  I
• 12:34
  think
• 12:34
  you're
• 12:34
  going
• 12:35
  to
• 12:35
  see
• 12:35
  more
• 12:35
  brands
• 12:35
  now
• 12:36
  flooding
• 12:36
  for
• 12:36
  that
• 12:36
  direct
• 12:37
  one
• 12:37
  to
• 12:37
  one
• 12:37
  connect
• 12:38
  with
• 12:38
  their
• 12:38
  retail
• 12:39
  partners
• 12:39
  100%.
• 12:40
  Yeah,
• 12:40
  I
• 12:41
  think
• 12:41
  that's
• 12:41
  the
• 12:41
  brand
• 12:42
  play
• 12:42
  here
• 12:42
  is,
• 12:43
  is
• 12:43
  just
• 12:44
  brilliant
• 12:44
  and
• 12:44
  I
• 12:45
  think
• 12:45
  this
• 12:45
  is
• 12:45
  definitely
• 12:46
  going
• 12:46
  to
• 12:46
  be
• 12:46
  one
• 12:46
  of
• 12:46
  those
• 12:46
  other
• 12:47
  touch
• 12:47
  points
• 12:47
  like
• 12:47
  you're
• 12:47
  saying
• 12:48
  Bryson,
• 12:48
  you
• 12:49
  know
• 12:49
  that
• 12:49
  where
• 12:49
  it's
• 12:50
  retail
• 12:50
  media.
• 12:50
  But
• 12:51
  then
• 12:51
  how
• 12:51
  do
• 12:51
  I
• 12:51
  intercept
• 12:52
  and
• 12:52
  get
• 12:52
  in
• 12:52
  there
• 12:53
  in
• 12:53
  front
• 12:53
  of
• 12:53
  our
• 12:53
  consumers
• 12:54
  at
• 12:54
  home
• 12:54
  and
• 12:54
  how
• 12:54
  do
• 12:55
  I
• 12:55
  get
• 12:55
  in
• 12:55
  front
• 12:55
  of
• 12:55
  them
• 12:55
  in
• 12:55
  the,
• 12:56
  and
• 12:56
  I
• 12:56
  think
• 12:57
  the,
• 12:57
  the
• 12:57
  number
• 12:57
  one
• 12:58
  thing
• 12:58
  that
• 12:58
  you,
• 12:58
  you
• 12:59
  just
• 12:59
  mentioned
• 12:59
  that
• 13:00
  got
• 13:00
  me
• 13:00
  thinking
• 13:00
  here
• 13:01
  is
• 13:01
  the
• 13:02
  swiftness
• 13:02
  of
• 13:02
  how
• 13:02
  this
• 13:03
  can
• 13:03
  happen.
• 13:03
  I
• 13:03
  think
• 13:04
  it's
• 13:04
  really
• 13:04
  important
• 13:04
  to
• 13:05
  call
• 13:05
  out
• 13:05
  who's
• 13:06
  speaking
• 13:06
  on
• 13:06
  Walmart's
• 13:07
  behalf
• 13:07
  in
• 13:07
  this
• 13:07
  article.
• 13:08
  It's
• 13:08
  David
• 13:08
  Gugina.
• 13:09
  It's
• 13:09
  not
• 13:09
  the
• 13:09
  brand
• 13:10
  rep,
• 13:10
  it's
• 13:10
  not
• 13:11
  the
• 13:11
  electronics
• 13:11
  buyer,
• 13:12
  it's
• 13:12
  really
• 13:13
  the
• 13:13
  supply
• 13:13
  chain
• 13:14
  team.
• 13:14
  And,
• 13:14
  and
• 13:15
  when
• 13:15
  you
• 13:15
  think
• 13:16
  about
• 13:16
  all
• 13:16
  the
• 13:16
  logistics
• 13:17
  that
• 13:17
  have
• 13:17
  to
• 13:17
  go
• 13:17
  into
• 13:18
  making
• 13:18
  this
• 13:19
  be
• 13:19
  executed
• 13:20
  as
• 13:20
  flawlessly
• 13:20
  as
• 13:21
  it
• 13:21
  was
• 13:21
  to
• 13:21
  deliver
• 13:22
  in
• 13:22
  some
• 13:22
  cases
• 13:22
  by
• 13:23
  7am
• 13:23
  like
• 13:24
  this
• 13:24
  involves
• 13:25
  coordination
• 13:25
  at
• 13:25
  a
• 13:26
  scale
• 13:26
  that
• 13:26
  Walmart
• 13:27
  clearly
• 13:27
  is
• 13:28
  ready
• 13:28
  to
• 13:28
  do.
• 13:29
  Our
• 13:29
  best
• 13:29
  buy
• 13:29
  in
• 13:30
  Target
• 13:30
  also
• 13:30
  equipped
• 13:31
  with
• 13:32
  their
• 13:32
  internal
• 13:32
  operations
• 13:33
  to
• 13:33
  handle
• 13:34
  an
• 13:34
  execution
• 13:35
  like
• 13:35
  this.
• 13:36
  That's
• 13:36
  the
• 13:37
  question
• 13:37
  that
• 13:37
  I
• 13:37
  have
• 13:38
  for
• 13:38
  how
• 13:38
  quickly
• 13:38
  we'll
• 13:39
  end
• 13:39
  up
• 13:39
  seeing
• 13:40
  some
• 13:40
  of
• 13:40
  the
• 13:40
  other
• 13:40
  retailers
• 13:41
  follow
• 13:41
  suit.
• 13:41
  But
• 13:41
  Chris,
• 13:42
  it
• 13:42
  looks
• 13:42
  like
• 13:42
  you
• 13:42
  got
• 13:42
  a
• 13:42
  point
• 13:43
  to
• 13:43
  close
• 13:43
  on
• 13:43
  here.
• 13:44
  Yeah,
• 13:44
  no,
• 13:44
  I
• 13:44
  think
• 13:45
  that's
• 13:45
  a
• 13:45
  great
• 13:45
  point,
• 13:45
  you
• 13:45
  know,
• 13:45
  because
• 13:46
  David
• 13:46
  Eugenia,
• 13:47
  for,
• 13:47
  I
• 13:47
  mean
• 13:47
  for
• 13:47
  those
• 13:48
  that
• 13:48
  maybe
• 13:48
  aren't
• 13:48
  as
• 13:48
  familiar
• 13:49
  with
• 13:49
  him
• 13:49
  as
• 13:49
  you
• 13:49
  are
• 13:49
  and
• 13:50
  you
• 13:50
  know
• 13:50
  he
• 13:50
  was
• 13:50
  formerly
• 13:51
  the
• 13:51
  EVP
• 13:51
  of
• 13:52
  supply
• 13:52
  chain
• 13:52
  and
• 13:52
  now
• 13:52
  is
• 13:53
  the
• 13:53
  head
• 13:53
  of
• 13:53
  E
• 13:53
  Commerce.
• 13:53
  So
• 13:54
  he
• 13:54
  brings
• 13:54
  those
• 13:54
  chops
• 13:55
  to
• 13:55
  the
• 13:55
  table
• 13:55
  to
• 13:55
  execute.
• 13:56
  So
• 13:56
  your
• 13:56
  question
• 13:56
  about
• 13:57
  can
• 13:57
  other
• 13:57
  people
• 13:57
  replicate
• 13:58
  it
• 13:58
  is
• 13:58
  really
• 13:59
  interesting.
• 13:59
  The
• 13:59
  other
• 14:00
  point
• 14:00
  though
• 14:00
  that
• 14:00
  I
• 14:00
  think
• 14:00
  about
• 14:01
  is
• 14:01
  that
• 14:01
  I
• 14:01
  actually
• 14:02
  think
• 14:02
  this
• 14:02
  is
• 14:02
  an
• 14:02
  easier
• 14:03
  model
• 14:03
  to
• 14:03
  execute
• 14:04
  than
• 14:04
  the
• 14:04
  traditional
• 14:05
  pre
• 14:05
  order
• 14:06
  drop
• 14:06
  in
• 14:06
  the
• 14:07
  store
• 14:07
  as
• 14:07
  well
• 14:08
  because
• 14:08
  you
• 14:08
  Know,
• 14:08
  who
• 14:09
  needs
• 14:09
  who,
• 14:09
  who's
• 14:10
  demanding
• 14:10
  the
• 14:10
  items,
• 14:10
  and
• 14:11
  you
• 14:11
  just
• 14:11
  got
• 14:11
  to
• 14:11
  get
• 14:11
  them
• 14:12
  to
• 14:12
  them.
• 14:13
  And
• 14:13
  then
• 14:13
  the
• 14:13
  last
• 14:13
  point
• 14:14
  I
• 14:14
  make
• 14:14
  is
• 14:14
  I
• 14:14
  also
• 14:14
  think
• 14:14
  this
• 14:15
  is
• 14:15
  very
• 14:16
  repeatable
• 14:16
  across
• 14:17
  other
• 14:17
  product
• 14:17
  categories,
• 14:17
  Like
• 14:18
  I
• 14:18
  think
• 14:18
  of
• 14:18
  fashion
• 14:19
  drops
• 14:19
  and
• 14:19
  things
• 14:19
  like
• 14:20
  that
• 14:20
  that,
• 14:20
  you
• 14:20
  know,
• 14:20
  like
• 14:21
  our,
• 14:21
  our
• 14:21
  former
• 14:22
  retail,
• 14:22
  our
• 14:22
  former
• 14:23
  employer
• 14:24
  loves
• 14:24
  to
• 14:24
  do
• 14:24
  as
• 14:24
  well.
• 14:25
  So,
• 14:25
  like,
• 14:25
  this
• 14:25
  is
• 14:25
  very,
• 14:26
  very
• 14:26
  easy
• 14:27
  to
• 14:27
  do
• 14:27
  and
• 14:27
  replicate
• 14:28
  across
• 14:28
  the
• 14:28
  industry,
• 14:29
  not
• 14:29
  just
• 14:29
  it
• 14:30
  doesn't
• 14:30
  have
• 14:30
  to
• 14:30
  stay
• 14:30
  within
• 14:30
  electronic
• 14:31
  shops.
• 14:31
  Bryson,
• 14:32
  close
• 14:32
  us
• 14:32
  out
• 14:32
  with
• 14:32
  the
• 14:33
  last
• 14:33
  word.
• 14:33
  Yeah,
• 14:34
  and
• 14:34
  Chris,
• 14:34
  I
• 14:34
  think
• 14:34
  you
• 14:34
  brought
• 14:35
  up
• 14:35
  a
• 14:35
  relevant
• 14:35
  point
• 14:35
  that
• 14:35
  we
• 14:35
  really
• 14:36
  haven't
• 14:36
  given
• 14:36
  a
• 14:36
  lot
• 14:36
  of
• 14:36
  attention
• 14:37
  to.
• 14:37
  Right.
• 14:37
  And
• 14:37
  that
• 14:37
  is
• 14:37
  the
• 14:37
  impact
• 14:38
  on
• 14:38
  the
• 14:38
  physical
• 14:38
  stores.
• 14:39
  Right.
• 14:39
  So
• 14:39
  to
• 14:40
  prepare
• 14:40
  for
• 14:40
  and
• 14:40
  be
• 14:41
  able
• 14:41
  to
• 14:41
  facilitate
• 14:41
  these
• 14:42
  drops,
• 14:42
  look,
• 14:43
  over
• 14:43
  the
• 14:43
  past
• 14:43
  years,
• 14:43
  it's
• 14:44
  come
• 14:44
  at,
• 14:44
  you
• 14:44
  know,
• 14:44
  some
• 14:45
  risk
• 14:45
  for
• 14:45
  retailers,
• 14:46
  right?
• 14:46
  Queuing
• 14:47
  up
• 14:47
  long
• 14:47
  lines,
• 14:47
  dissatisfied
• 14:48
  customers
• 14:49
  who
• 14:49
  weren't
• 14:49
  able
• 14:49
  to
• 14:49
  get
• 14:49
  their
• 14:50
  hands
• 14:50
  on
• 14:50
  the
• 14:50
  product.
• 14:51
  You
• 14:51
  know,
• 14:51
  customers
• 14:52
  chomping
• 14:52
  at
• 14:52
  the
• 14:53
  bit
• 14:53
  and
• 14:53
  rushing
• 14:53
  through
• 14:53
  the
• 14:53
  store
• 14:54
  to
• 14:54
  be
• 14:54
  able
• 14:54
  to
• 14:54
  find
• 14:54
  that
• 14:54
  product.
• 14:55
  So
• 14:56
  it
• 14:56
  really
• 14:56
  alleviates
• 14:56
  a
• 14:57
  lot
• 14:57
  of
• 14:57
  the
• 14:57
  potential
• 14:57
  legacy
• 14:58
  headaches
• 14:58
  that
• 14:58
  we've
• 14:59
  had
• 14:59
  and
• 14:59
  we've
• 14:59
  seen
• 14:59
  in
• 14:59
  these
• 15:00
  traditional
• 15:00
  drops,
• 15:00
  whether
• 15:00
  it's
• 15:01
  Black
• 15:01
  Friday,
• 15:01
  new
• 15:01
  product
• 15:02
  releases.
• 15:02
  So
• 15:03
  there
• 15:03
  is
• 15:03
  a
• 15:03
  knockdown
• 15:03
  benefit
• 15:04
  of
• 15:04
  that
• 15:04
  too,
• 15:04
  in
• 15:04
  the
• 15:04
  sense
• 15:05
  of
• 15:05
  being
• 15:05
  able
• 15:05
  to
• 15:05
  control
• 15:05
  the
• 15:06
  narrative
• 15:06
  and
• 15:06
  satisfy
• 15:07
  all
• 15:07
  the
• 15:07
  customers
• 15:07
  as
• 15:08
  opposed
• 15:08
  to
• 15:08
  sending
• 15:08
  away
• 15:08
  some
• 15:09
  dissatisfied.
• 15:10
  Yeah,
• 15:10
  great
• 15:11
  point.
• 15:11
  And
• 15:11
  not
• 15:11
  even
• 15:11
  just
• 15:11
  the
• 15:11
  stores
• 15:12
  online
• 15:12
  too,
• 15:13
  because
• 15:13
  you
• 15:13
  can
• 15:13
  actually
• 15:13
  over
• 15:14
  fulfill
• 15:14
  your
• 15:14
  demand
• 15:14
  online
• 15:15
  and
• 15:15
  then
• 15:15
  have
• 15:15
  to
• 15:15
  issue
• 15:16
  a
• 15:16
  lot
• 15:16
  of
• 15:16
  apology
• 15:17
  notices
• 15:18
  on
• 15:18
  the
• 15:18
  back
• 15:18
  end
• 15:18
  of
• 15:19
  that,
• 15:19
  as
• 15:19
  well
• 15:19
  as
• 15:19
  I've
• 15:19
  been
• 15:20
  a
• 15:20
  part
• 15:20
  of
• 15:20
  in
• 15:20
  the
• 15:20
  past
• 15:21
  as
• 15:21
  well.
• 15:21
  So.
• 15:21
  Yes,
• 15:21
  so
• 15:21
  there's
• 15:22
  a
• 15:22
  lot
• 15:22
  of
• 15:22
  operational
• 15:22
  wins
• 15:23
  here
• 15:23
  too.
• 15:24
  All
• 15:24
  right,
• 15:24
  headline
• 15:24
  number
• 15:25
  two.
• 15:25
  Amazon
• 15:26
  has
• 15:26
  restructured
• 15:26
  its
• 15:27
  grocery
• 15:27
  leadership.
• 15:28
  According
• 15:28
  to
• 15:29
  Grocery
• 15:29
  Dive,
• 15:29
  Amazon
• 15:30
  has
• 15:30
  named
• 15:30
  a
• 15:31
  restructured
• 15:31
  leadership
• 15:32
  team
• 15:32
  for
• 15:32
  its
• 15:32
  worldwide
• 15:33
  grocery
• 15:33
  division
• 15:33
  that
• 15:34
  includes
• 15:34
  top
• 15:34
  executives
• 15:35
  from
• 15:35
  Whole
• 15:35
  Foods
• 15:36
  Market.
• 15:37
  The
• 15:37
  latest
• 15:37
  moves
• 15:37
  are
• 15:38
  part
• 15:38
  of
• 15:38
  an
• 15:38
  initiative
• 15:38
  Amazon
• 15:39
  is
• 15:39
  calling
• 15:40
  quote,
• 15:40
  One
• 15:41
  Grocery.
• 15:42
  Wow.
• 15:42
  And
• 15:43
  marked
• 15:43
  the
• 15:43
  first
• 15:44
  major
• 15:44
  realignment
• 15:45
  under
• 15:45
  Jason
• 15:45
  Biko,
• 15:46
  who
• 15:46
  became
• 15:46
  head
• 15:47
  of
• 15:47
  Amazon's
• 15:47
  grocery
• 15:48
  division
• 15:48
  earlier
• 15:48
  this
• 15:48
  year
• 15:49
  after
• 15:49
  serving
• 15:49
  as
• 15:50
  CEO
• 15:50
  of
• 15:50
  Whole
• 15:51
  Foods
• 15:51
  since
• 15:52
  2022.
• 15:53
  One
• 15:53
  grocery
• 15:53
  is
• 15:54
  just
• 15:54
  so
• 15:54
  creative,
• 15:54
  don't
• 15:54
  you
• 15:54
  think?
• 15:55
  And
• 15:55
  in
• 15:55
  addition,
• 15:56
  Whole
• 15:56
  Foods
• 15:56
  Market's
• 15:57
  corporate
• 15:57
  employees
• 15:58
  will
• 15:58
  migrate
• 15:58
  to
• 15:58
  the
• 15:59
  same
• 15:59
  system
• 15:59
  as
• 16:00
  Amazon
• 16:00
  employees
• 16:01
  for
• 16:01
  benefits,
• 16:02
  compensation,
• 16:02
  structure
• 16:03
  and
• 16:03
  other
• 16:04
  aspects
• 16:04
  of
• 16:05
  their
• 16:05
  jobs.
• 16:05
  And
• 16:05
  Amazon
• 16:06
  spokesperson
• 16:07
  confirmed
• 16:07
  to
• 16:08
  Grocery
• 16:08
  Dive,
• 16:09
  Bryson,
• 16:09
  what
• 16:10
  should
• 16:10
  we
• 16:10
  make
• 16:10
  of
• 16:11
  Amazon's
• 16:11
  One
• 16:11
  Grocery
• 16:12
  strategy?
• 16:13
  Restructuring?
• 16:14
  Or
• 16:14
  is
• 16:14
  it
• 16:14
  just
• 16:15
  more
• 16:15
  sound
• 16:15
  and
• 16:16
  fury
• 16:16
  ultimately
• 16:17
  signifying
• 16:18
  nothing?
• 16:19
  No,
• 16:19
  no,
• 16:19
  it's
• 16:20
  a
• 16:20
  great
• 16:20
  question.
• 16:20
  And
• 16:20
  so
• 16:21
  I,
• 16:21
  I
• 16:21
  don't
• 16:21
  think
• 16:21
  it's
• 16:21
  the
• 16:22
  latter,
• 16:22
  I
• 16:22
  think,
• 16:23
  you
• 16:23
  know,
• 16:23
  they're
• 16:23
  don't.
• 16:23
  Okay,
• 16:24
  interesting.
• 16:24
  I
• 16:25
  don't
• 16:25
  think
• 16:25
  it's
• 16:25
  the
• 16:25
  latter
• 16:26
  and
• 16:26
  I
• 16:26
  think
• 16:26
  quite
• 16:26
  honestly
• 16:27
  it's,
• 16:27
  it's
• 16:27
  long
• 16:27
  overdue.
• 16:27
  Right?
• 16:28
  I
• 16:28
  mean
• 16:28
  the
• 16:28
  acquisition
• 16:28
  of
• 16:29
  Whole
• 16:29
  Foods
• 16:29
  was
• 16:29
  back
• 16:29
  in
• 16:29
  2017.
• 16:31
  You
• 16:32
  know,
• 16:32
  now
• 16:32
  fast
• 16:32
  forward
• 16:32
  to
• 16:32
  2025.
• 16:34
  So
• 16:34
  for
• 16:34
  you
• 16:35
  know,
• 16:35
  Amazon
• 16:35
  to
• 16:35
  be
• 16:35
  able
• 16:36
  to,
• 16:36
  you
• 16:36
  know,
• 16:36
  effectively
• 16:37
  break
• 16:37
  down
• 16:37
  the
• 16:37
  silos
• 16:38
  that
• 16:38
  have
• 16:38
  existed
• 16:39
  between
• 16:39
  Whole
• 16:39
  Foods,
• 16:39
  Amazon
• 16:40
  Fresh
• 16:40
  and
• 16:40
  Amazon
• 16:41
  Go,
• 16:42
  I
• 16:42
  think
• 16:42
  the
• 16:42
  benefits
• 16:43
  are
• 16:43
  going
• 16:43
  to
• 16:43
  be
• 16:44
  exponential
• 16:45
  with
• 16:45
  respect
• 16:45
  to,
• 16:46
  you
• 16:46
  know,
• 16:46
  bringing
• 16:46
  together
• 16:47
  both
• 16:47
  physical
• 16:47
  as
• 16:48
  well
• 16:48
  as
• 16:48
  the
• 16:48
  digital
• 16:48
  insights
• 16:49
  for
• 16:49
  consumer
• 16:50
  trends,
• 16:50
  being
• 16:51
  able
• 16:51
  to
• 16:51
  cross
• 16:51
  pollinate
• 16:52
  ideas
• 16:52
  amongst
• 16:53
  the
• 16:53
  different
• 16:53
  retail
• 16:53
  banners
• 16:54
  and
• 16:54
  then
• 16:54
  leveraging
• 16:55
  and
• 16:55
  really
• 16:56
  bridging
• 16:56
  that
• 16:56
  gap
• 16:56
  from
• 16:57
  a
• 16:57
  true
• 16:57
  omnichannel
• 16:58
  standpoint
• 16:59
  in
• 16:59
  grocery.
• 17:00
  So
• 17:00
  I
• 17:00
  do
• 17:00
  think
• 17:01
  that
• 17:01
  there
• 17:01
  are
• 17:01
  long
• 17:01
  term
• 17:01
  benefits
• 17:02
  or
• 17:02
  there
• 17:02
  are
• 17:02
  immediate
• 17:02
  benefits
• 17:03
  as
• 17:03
  well
• 17:03
  as
• 17:03
  long
• 17:03
  term
• 17:04
  benefits
• 17:04
  that
• 17:04
  they're
• 17:04
  going
• 17:04
  to
• 17:05
  unlock
• 17:05
  through
• 17:06
  this.
• 17:06
  I
• 17:07
  think,
• 17:07
  you
• 17:07
  know,
• 17:07
  it
• 17:07
  does
• 17:08
  send
• 17:08
  a
• 17:08
  long
• 17:08
  term
• 17:09
  signal
• 17:10
  to
• 17:10
  the
• 17:10
  employee,
• 17:12
  internal
• 17:12
  employees
• 17:12
  as
• 17:13
  well,
• 17:14
  you
• 17:14
  know,
• 17:15
  giving
• 17:15
  them
• 17:15
  greater
• 17:15
  access
• 17:16
  to
• 17:16
  assets
• 17:17
  that
• 17:17
  maybe
• 17:17
  weren't
• 17:17
  available
• 17:18
  to
• 17:18
  them
• 17:18
  in
• 17:18
  the
• 17:18
  past,
• 17:19
  unifying
• 17:20
  on
• 17:20
  one
• 17:20
  platform,
• 17:20
  simplifying
• 17:21
  processes.
• 17:22
  So
• 17:22
  I
• 17:23
  think
• 17:23
  the
• 17:23
  efficiencies,
• 17:24
  the
• 17:24
  insights
• 17:25
  as
• 17:26
  well
• 17:26
  as
• 17:26
  the
• 17:26
  reach
• 17:27
  are
• 17:27
  really
• 17:27
  going
• 17:27
  to
• 17:27
  be
• 17:27
  what
• 17:28
  set
• 17:28
  this
• 17:28
  move
• 17:28
  apart
• 17:29
  and
• 17:29
  really
• 17:29
  set
• 17:29
  Amazon
• 17:30
  up
• 17:30
  for
• 17:30
  long
• 17:30
  term
• 17:30
  success
• 17:31
  under
• 17:31
  the
• 17:31
  one
• 17:31
  grocery
• 17:32
  platform.
• 17:33
  Wow.
• 17:33
  Okay,
• 17:33
  so
• 17:34
  I'm,
• 17:34
  I'm
• 17:34
  a
• 17:34
  little
• 17:35
  surprised
• 17:35
  by
• 17:35
  that
• 17:35
  take
• 17:35
  right
• 17:36
  at
• 17:36
  the
• 17:36
  get
• 17:36
  go.
• 17:36
  So
• 17:36
  let
• 17:36
  me
• 17:37
  ask
• 17:37
  you
• 17:37
  a
• 17:37
  follow
• 17:37
  up
• 17:37
  question
• 17:37
  there.
• 17:38
  So,
• 17:38
  so
• 17:38
  no
• 17:39
  concern
• 17:39
  at
• 17:39
  all
• 17:39
  then
• 17:40
  about,
• 17:40
  you
• 17:40
  know,
• 17:40
  moving
• 17:41
  the
• 17:41
  Whole
• 17:41
  Foods
• 17:41
  employees
• 17:42
  onto
• 17:42
  the
• 17:42
  full
• 17:43
  Amazon
• 17:43
  compensation
• 17:44
  package
• 17:44
  benefits,
• 17:45
  no
• 17:45
  concerns
• 17:46
  at
• 17:46
  all
• 17:46
  about
• 17:46
  what
• 17:46
  that
• 17:46
  does
• 17:47
  to
• 17:47
  the
• 17:47
  culture
• 17:47
  of
• 17:47
  Whole
• 17:48
  Foods?
• 17:49
  You
• 17:49
  know,
• 17:49
  I
• 17:50
  think
• 17:50
  it's
• 17:50
  a
• 17:50
  good
• 17:50
  point
• 17:51
  and
• 17:51
  a
• 17:51
  good,
• 17:51
  a
• 17:51
  good
• 17:52
  risk.
• 17:52
  I
• 17:52
  know
• 17:52
  that,
• 17:53
  you
• 17:53
  know,
• 17:54
  just
• 17:54
  comparatively
• 17:55
  other
• 17:55
  retailers
• 17:55
  have
• 17:56
  been
• 17:56
  very
• 17:56
  cautious
• 17:56
  about
• 17:57
  merging
• 17:57
  online
• 17:58
  and
• 17:58
  physical,
• 17:58
  but
• 17:59
  I
• 17:59
  think,
• 17:59
  you
• 17:59
  know,
• 17:59
  the
• 17:59
  Runway
• 18:00
  has
• 18:00
  been
• 18:00
  long
• 18:00
  enough
• 18:01
  to
• 18:01
  where,
• 18:01
  you
• 18:01
  know,
• 18:02
  those
• 18:02
  cultural
• 18:02
  norms
• 18:02
  I
• 18:03
  think
• 18:03
  are
• 18:03
  established.
• 18:04
  And
• 18:04
  I
• 18:04
  think,
• 18:04
  you
• 18:04
  know,
• 18:04
  and
• 18:05
  I
• 18:05
  am
• 18:05
  maybe
• 18:05
  going
• 18:05
  on
• 18:05
  a
• 18:05
  limb
• 18:06
  here
• 18:06
  and
• 18:06
  giving
• 18:06
  Amazon
• 18:07
  credit
• 18:07
  for,
• 18:07
  you
• 18:07
  know,
• 18:07
  not
• 18:08
  disrupting
• 18:08
  the
• 18:08
  boat
• 18:08
  too
• 18:09
  much
• 18:09
  in
• 18:09
  preserving
• 18:10
  some
• 18:10
  of
• 18:10
  that
• 18:10
  integrity.
• 18:11
  But
• 18:11
  I
• 18:11
  think
• 18:11
  the,
• 18:12
  you
• 18:12
  know,
• 18:12
  benefits
• 18:13
  of
• 18:13
  being
• 18:13
  able
• 18:13
  to,
• 18:14
  you
• 18:14
  know,
• 18:14
  break
• 18:14
  down
• 18:15
  the
• 18:15
  redundancies,
• 18:16
  drive
• 18:16
  efficiencies
• 18:17
  I
• 18:18
  think
• 18:18
  is
• 18:18
  only
• 18:18
  going
• 18:18
  to
• 18:18
  result
• 18:19
  in,
• 18:19
  you
• 18:19
  know,
• 18:21
  improving
• 18:21
  the
• 18:22
  employee
• 18:22
  dynamic
• 18:23
  and
• 18:23
  dynamic
• 18:24
  amongst
• 18:24
  the
• 18:24
  members
• 18:25
  at
• 18:26
  Whole
• 18:26
  Foods
• 18:27
  and
• 18:28
  the
• 18:28
  like.
• 18:28
  So
• 18:29
  I
• 18:29
  do
• 18:29
  think
• 18:29
  there
• 18:29
  is
• 18:29
  upside
• 18:30
  in
• 18:30
  it.
• 18:30
  I
• 18:31
  think,
• 18:31
  you
• 18:31
  know,
• 18:31
  you
• 18:31
  bring
• 18:31
  up
• 18:32
  a
• 18:32
  book
• 18:32
  point
• 18:32
  about
• 18:33
  maintaining
• 18:33
  the
• 18:33
  delicate
• 18:34
  balance
• 18:34
  of
• 18:34
  the
• 18:34
  culture,
• 18:35
  but
• 18:35
  there,
• 18:36
  I
• 18:36
  think
• 18:36
  just
• 18:36
  given
• 18:37
  the
• 18:37
  access,
• 18:37
  the
• 18:38
  elimination
• 18:38
  of
• 18:38
  redundancies
• 18:39
  and
• 18:39
  overall
• 18:40
  efficiencies,
• 18:40
  I
• 18:40
  think
• 18:41
  that
• 18:41
  would
• 18:41
  outweigh
• 18:41
  the
• 18:41
  risks.
• 18:43
  Interesting.
• 18:43
  Interesting.
• 18:44
  I'm
• 18:44
  not
• 18:44
  sure
• 18:44
  I'm
• 18:44
  buying
• 18:44
  into
• 18:45
  the
• 18:45
  argument
• 18:45
  of
• 18:45
  reducing
• 18:46
  efficiencies.
• 18:47
  Is
• 18:47
  what,
• 18:47
  what
• 18:47
  Whole
• 18:48
  Foods
• 18:48
  needs
• 18:48
  to
• 18:48
  continue
• 18:49
  to
• 18:49
  be
• 18:49
  great.
• 18:49
  But
• 18:50
  I'll
• 18:50
  save
• 18:50
  that
• 18:50
  for
• 18:51
  now.
• 18:51
  I
• 18:51
  want
• 18:51
  to
• 18:51
  hear
• 18:51
  what
• 18:52
  Brooks
• 18:52
  has
• 18:52
  to
• 18:52
  say.
• 18:52
  Brooks,
• 18:53
  do
• 18:53
  you
• 18:53
  agree
• 18:53
  with
• 18:53
  your
• 18:54
  colleague
• 18:54
  here
• 18:54
  or,
• 18:55
  or
• 18:55
  are
• 18:55
  you
• 18:56
  going
• 18:56
  to
• 18:56
  take
• 18:56
  a
• 18:56
  different
• 18:56
  slant?
• 18:57
  Well,
• 18:58
  look,
• 18:58
  I'm
• 18:58
  going
• 18:58
  to
• 18:58
  go
• 18:58
  on
• 18:58
  record
• 18:59
  as
• 18:59
  never
• 19:00
  disagreeing
• 19:00
  with
• 19:01
  Bryson
• 19:01
  on
• 19:01
  the
• 19:01
  topic
• 19:02
  of
• 19:02
  grocery.
• 19:03
  I
• 19:03
  know,
• 19:03
  right?
• 19:04
  That's
• 19:04
  what
• 19:04
  I,
• 19:04
  I
• 19:05
  feel,
• 19:05
  I
• 19:05
  feel
• 19:05
  like,
• 19:05
  I
• 19:05
  feel
• 19:06
  like
• 19:06
  danger
• 19:06
  Will
• 19:06
  Robinson.
• 19:07
  Danger
• 19:07
  Will
• 19:07
  Robinson
• 19:08
  already.
• 19:08
  But
• 19:08
  let's,
• 19:08
  let's
• 19:09
  go.
• 19:10
  So
• 19:10
  I'm
• 19:10
  going
• 19:10
  to
• 19:11
  take
• 19:11
  the
• 19:11
  proverbial
• 19:11
  wait
• 19:12
  and
• 19:12
  see
• 19:12
  on
• 19:12
  this
• 19:12
  one.
• 19:13
  I
• 19:13
  mean,
• 19:13
  it's
• 19:13
  hard
• 19:13
  to
• 19:14
  believe
• 19:14
  it's
• 19:14
  been
• 19:14
  eight
• 19:15
  years
• 19:15
  since
• 19:15
  the
• 19:15
  acquisition
• 19:16
  and
• 19:16
  I
• 19:16
  think
• 19:17
  all
• 19:17
  of
• 19:17
  us
• 19:17
  expected
• 19:18
  this
• 19:18
  to
• 19:18
  be
• 19:18
  a
• 19:18
  major
• 19:19
  industry
• 19:20
  disruptor,
• 19:21
  but
• 19:22
  I
• 19:22
  think
• 19:22
  we're
• 19:22
  just
• 19:22
  still
• 19:23
  waiting
• 19:23
  for
• 19:23
  that.
• 19:23
  Right?
• 19:24
  I
• 19:24
  mean,
• 19:25
  groceries,
• 19:25
  what
• 19:25
  a
• 19:26
  trillion
• 19:26
  dollar
• 19:26
  market
• 19:27
  in
• 19:27
  the
• 19:27
  U.S.
• 19:28
  amazon
• 19:29
  has
• 19:29
  3,
• 19:30
  4
• 19:30
  or
• 19:30
  5%
• 19:31
  share.
• 19:31
  I
• 19:31
  mean,
• 19:31
  I
• 19:31
  think
• 19:32
  a
• 19:32
  lot
• 19:32
  of
• 19:32
  us
• 19:33
  were
• 19:33
  expecting
• 19:33
  more
• 19:34
  and
• 19:35
  maybe
• 19:35
  this
• 19:35
  is
• 19:35
  the
• 19:36
  answer.
• 19:36
  I'm
• 19:37
  not
• 19:37
  sure.
• 19:38
  Right,
• 19:38
  okay.
• 19:39
  So
• 19:39
  you're
• 19:39
  taking
• 19:39
  a
• 19:39
  little
• 19:39
  more
• 19:40
  cautious
• 19:40
  approach.
• 19:40
  Okay.
• 19:41
  And
• 19:41
  what
• 19:41
  do
• 19:42
  you
• 19:42
  think
• 19:42
  here?
• 19:43
  I
• 19:44
  mean,
• 19:44
  I
• 19:44
  think
• 19:44
  that
• 19:45
  it
• 19:45
  makes
• 19:46
  total
• 19:46
  sense
• 19:47
  if
• 19:47
  I'm
• 19:47
  Bryson
• 19:48
  and
• 19:48
  I'm
• 19:48
  coming
• 19:48
  in
• 19:48
  and
• 19:49
  I'm
• 19:49
  looking
• 19:49
  at
• 19:50
  how
• 19:50
  do
• 19:50
  I
• 19:50
  streamline
• 19:51
  operations,
• 19:51
  how
• 19:51
  do
• 19:52
  I
• 19:52
  continue
• 19:52
  to
• 19:52
  make
• 19:52
  Amazon's
• 19:53
  grocery
• 19:54
  success
• 19:55
  possible?
• 19:55
  Like
• 19:55
  all
• 19:56
  of
• 19:56
  the
• 19:56
  things
• 19:56
  that
• 19:56
  Bryson
• 19:57
  just
• 19:57
  said
• 19:57
  have
• 19:57
  to
• 19:58
  happen.
• 19:59
  I
• 19:59
  do.
• 20:00
  However,
• 20:01
  I
• 20:01
  agree
• 20:01
  with
• 20:01
  that.
• 20:01
  Yeah.
• 20:02
  Think
• 20:02
  that
• 20:04
  just
• 20:04
  based
• 20:04
  on
• 20:04
  what
• 20:04
  we
• 20:05
  heard
• 20:05
  time
• 20:05
  and
• 20:05
  time
• 20:06
  again
• 20:06
  last
• 20:06
  week,
• 20:06
  Chris,
• 20:07
  from
• 20:07
  the
• 20:07
  grocery
• 20:07
  retailers
• 20:08
  that
• 20:08
  we
• 20:08
  talked
• 20:08
  to
• 20:08
  a
• 20:09
  consumer
• 20:09
  goods
• 20:09
  forum
• 20:09
  last
• 20:10
  week,
• 20:10
  they
• 20:11
  were
• 20:11
  all
• 20:11
  talking
• 20:11
  about
• 20:12
  having
• 20:12
  this
• 20:13
  sense
• 20:13
  of
• 20:13
  purpose
• 20:13
  in
• 20:14
  their
• 20:14
  roles
• 20:14
  of
• 20:14
  the
• 20:15
  corporation
• 20:15
  being
• 20:16
  not
• 20:16
  only
• 20:17
  about
• 20:17
  making
• 20:18
  sure
• 20:18
  that
• 20:18
  people
• 20:18
  get
• 20:19
  food,
• 20:19
  but
• 20:19
  providing
• 20:20
  feeding
• 20:20
  the
• 20:21
  world
• 20:21
  with
• 20:21
  the
• 20:21
  most
• 20:22
  affordable
• 20:22
  and
• 20:23
  healthiest
• 20:23
  food
• 20:23
  possible.
• 20:25
  And
• 20:25
  what
• 20:25
  worries
• 20:25
  me
• 20:26
  is
• 20:26
  the
• 20:26
  line
• 20:26
  in
• 20:26
  this
• 20:27
  press
• 20:27
  release
• 20:27
  of,
• 20:28
  and
• 20:28
  other
• 20:28
  aspects
• 20:29
  of
• 20:29
  their
• 20:29
  job.
• 20:30
  Like,
• 20:30
  I
• 20:30
  think
• 20:30
  from
• 20:31
  a,
• 20:31
  like,
• 20:31
  that's
• 20:32
  the
• 20:32
  part
• 20:32
  for
• 20:32
  me
• 20:33
  that
• 20:33
  I
• 20:33
  do
• 20:33
  think
• 20:34
  is
• 20:34
  going
• 20:34
  to
• 20:35
  really
• 20:36
  impact
• 20:36
  how
• 20:37
  successful
• 20:38
  this
• 20:38
  is
• 20:38
  in
• 20:38
  terms
• 20:39
  of
• 20:39
  the
• 20:39
  current
• 20:39
  workforce
• 20:40
  and
• 20:40
  the
• 20:40
  current
• 20:40
  culture
• 20:41
  and
• 20:41
  the
• 20:41
  current
• 20:42
  consumer
• 20:42
  expectations
• 20:43
  of
• 20:43
  the
• 20:44
  Whole
• 20:44
  Food
• 20:44
  customer.
• 20:45
  Because
• 20:45
  I
• 20:45
  think
• 20:45
  if
• 20:46
  you
• 20:46
  go
• 20:46
  too
• 20:46
  far
• 20:47
  into
• 20:47
  autumn,
• 20:48
  automating
• 20:49
  and
• 20:50
  Amazoning
• 20:51
  a
• 20:51
  grocery
• 20:52
  store
• 20:52
  like
• 20:52
  Whole
• 20:52
  Foods,
• 20:53
  I,
• 20:53
  I
• 20:53
  don't
• 20:54
  know
• 20:54
  that
• 20:54
  you
• 20:54
  still
• 20:54
  have
• 20:55
  that
• 20:55
  edge
• 20:55
  that
• 20:56
  that
• 20:57
  Whole
• 20:57
  Foods
• 20:57
  has
• 20:57
  had
• 20:57
  in
• 20:58
  the
• 20:58
  market.
• 20:58
  So
• 20:59
  yeah,
• 20:59
  I,
• 20:59
  I,
• 21:00
  I,
• 21:00
  that's
• 21:00
  where
• 21:00
  I'm,
• 21:01
  I'm
• 21:01
  at
• 21:01
  that
• 21:01
  point
• 21:01
  too.
• 21:02
  And
• 21:02
  like
• 21:02
  I
• 21:02
  said,
• 21:02
  you
• 21:03
  know,
• 21:03
  from
• 21:03
  the
• 21:03
  people
• 21:03
  we've
• 21:03
  talked
• 21:04
  to
• 21:04
  that
• 21:04
  have
• 21:04
  worked
• 21:04
  at
• 21:04
  Amazon,
• 21:05
  like,
• 21:05
  the
• 21:05
  vision
• 21:05
  I
• 21:05
  have
• 21:05
  of
• 21:06
  working
• 21:06
  there
• 21:06
  is
• 21:06
  like,
• 21:07
  their
• 21:07
  systems
• 21:07
  are
• 21:07
  like,
• 21:07
  there's
• 21:08
  like
• 21:08
  clocks
• 21:08
  everywhere
• 21:09
  that
• 21:09
  you're
• 21:09
  watch
• 21:09
  that
• 21:09
  are,
• 21:10
  are
• 21:10
  watching.
• 21:10
  You
• 21:10
  and
• 21:10
  counting
• 21:11
  down,
• 21:11
  like,
• 21:11
  how
• 21:11
  quickly.
• 21:12
  You
• 21:12
  respond
• 21:12
  to
• 21:13
  emails
• 21:13
  and
• 21:13
  how
• 21:13
  quickly
• 21:14
  you
• 21:14
  get
• 21:14
  your
• 21:14
  job
• 21:14
  done
• 21:14
  and
• 21:15
  all
• 21:15
  that
• 21:15
  kind
• 21:15
  of
• 21:15
  stuff.
• 21:15
  And
• 21:16
  if
• 21:16
  I'm
• 21:16
  a
• 21:16
  Whole
• 21:16
  Foods,
• 21:17
  like,
• 21:17
  lifer,
• 21:17
  I'm
• 21:17
  like,
• 21:18
  forget
• 21:18
  that.
• 21:18
  I
• 21:18
  don't
• 21:19
  want
• 21:19
  that.
• 21:19
  And
• 21:19
  so,
• 21:19
  like,
• 21:20
  I
• 21:20
  don't
• 21:20
  know
• 21:20
  how
• 21:20
  that,
• 21:20
  you
• 21:21
  know,
• 21:21
  makes
• 21:21
  that,
• 21:21
  that
• 21:22
  stifles
• 21:22
  my
• 21:22
  creativity
• 21:23
  somewhat,
• 21:23
  which
• 21:23
  is
• 21:23
  what
• 21:23
  Whole
• 21:24
  Foods
• 21:24
  was
• 21:24
  so
• 21:24
  good
• 21:24
  at.
• 21:24
  But
• 21:25
  I
• 21:25
  mean,
• 21:25
  to
• 21:26
  go
• 21:26
  on
• 21:26
  my
• 21:26
  point
• 21:26
  now,
• 21:26
  I
• 21:27
  think,
• 21:27
  to
• 21:28
  me,
• 21:28
  I,
• 21:28
  I
• 21:28
  think
• 21:28
  it's,
• 21:29
  it's
• 21:29
  the
• 21:29
  move
• 21:29
  you
• 21:29
  expect.
• 21:30
  100.
• 21:31
  I
• 21:31
  agree
• 21:31
  with
• 21:31
  that.
• 21:31
  I
• 21:31
  don't
• 21:32
  know
• 21:32
  what
• 21:32
  else
• 21:32
  you
• 21:32
  do,
• 21:33
  honestly,
• 21:33
  but
• 21:34
  I
• 21:34
  think
• 21:34
  going
• 21:34
  back
• 21:35
  to
• 21:35
  the
• 21:35
  question,
• 21:35
  I
• 21:36
  think
• 21:36
  it
• 21:36
  actually
• 21:36
  does
• 21:36
  signify
• 21:37
  nothing
• 21:37
  in
• 21:37
  the
• 21:38
  long
• 21:38
  run.
• 21:38
  And
• 21:38
  I'll
• 21:38
  go
• 21:38
  even
• 21:39
  farther
• 21:39
  to
• 21:39
  say
• 21:39
  that
• 21:40
  in
• 21:40
  10
• 21:40
  years,
• 21:41
  I
• 21:41
  think
• 21:41
  Whole
• 21:41
  Foods
• 21:42
  is
• 21:42
  going
• 21:42
  to
• 21:42
  be
• 21:42
  a
• 21:42
  shelve
• 21:43
  its
• 21:43
  former
• 21:43
  self
• 21:43
  and
• 21:44
  be
• 21:44
  relegated
• 21:44
  to
• 21:44
  the
• 21:45
  dustbin
• 21:45
  of
• 21:45
  nostalgia
• 21:46
  if
• 21:46
  this
• 21:46
  plays
• 21:47
  out
• 21:47
  the
• 21:47
  way
• 21:47
  I
• 21:47
  think
• 21:47
  things
• 21:48
  are
• 21:48
  going
• 21:48
  to
• 21:48
  play
• 21:48
  out.
• 21:48
  Because,
• 21:49
  like,
• 21:49
  look,
• 21:49
  Tony
• 21:50
  Hoggett's
• 21:51
  gone.
• 21:51
  Claire
• 21:52
  Peters
• 21:52
  is
• 21:52
  now
• 21:52
  gone,
• 21:53
  which
• 21:53
  I
• 21:53
  didn't
• 21:53
  realize
• 21:54
  until
• 21:54
  this
• 21:54
  announcement
• 21:55
  came
• 21:55
  out.
• 21:55
  Both
• 21:56
  are
• 21:56
  seasoned
• 21:56
  grocery
• 21:57
  executives,
• 21:58
  and
• 21:58
  they've,
• 21:58
  they're
• 21:59
  gone
• 21:59
  after
• 21:59
  countless
• 21:59
  other
• 22:00
  executives
• 22:00
  in
• 22:00
  Amazon
• 22:01
  Grocery
• 22:01
  have
• 22:01
  gone
• 22:02
  before
• 22:02
  them.
• 22:02
  And
• 22:03
  so
• 22:03
  now
• 22:03
  you're
• 22:03
  putting
• 22:04
  Amazon
• 22:04
  Whole
• 22:05
  Foods
• 22:05
  on
• 22:05
  the
• 22:05
  Amazon
• 22:06
  incentive
• 22:06
  structure.
• 22:06
  I
• 22:06
  just
• 22:06
  don't
• 22:07
  think
• 22:07
  that
• 22:07
  bodes
• 22:07
  well.
• 22:08
  But
• 22:08
  the
• 22:08
  biggest
• 22:09
  tell
• 22:09
  for
• 22:09
  me
• 22:09
  in
• 22:09
  this
• 22:10
  is
• 22:10
  what
• 22:11
  does
• 22:11
  Amazon
• 22:11
  have
• 22:12
  to
• 22:12
  go
• 22:12
  on
• 22:12
  strategically
• 22:13
  here?
• 22:14
  And
• 22:14
  the
• 22:14
  biggest
• 22:14
  tell
• 22:14
  for
• 22:15
  me
• 22:15
  is
• 22:15
  like,
• 22:15
  there's
• 22:15
  this
• 22:16
  weird
• 22:16
  metric
• 22:16
  that
• 22:16
  they're
• 22:17
  quoting
• 22:17
  about
• 22:17
  the
• 22:17
  Amazon
• 22:18
  Fresh
• 22:18
  remodels
• 22:19
  where
• 22:19
  they're
• 22:19
  saying
• 22:19
  like,
• 22:20
  that
• 22:20
  the
• 22:21
  average
• 22:21
  monthly
• 22:22
  store
• 22:22
  spend
• 22:23
  of
• 22:23
  a
• 22:23
  consumer
• 22:24
  has
• 22:24
  increased
• 22:24
  20%.
• 22:25
  I've
• 22:25
  never
• 22:25
  heard
• 22:26
  that
• 22:26
  statistic
• 22:27
  before.
• 22:27
  Like,
• 22:27
  shouldn't
• 22:28
  that
• 22:28
  just
• 22:28
  be
• 22:28
  like,
• 22:29
  the
• 22:29
  average
• 22:29
  store
• 22:29
  is
• 22:30
  up
• 22:30
  20%?
• 22:30
  Like,
• 22:31
  what
• 22:31
  are
• 22:31
  you
• 22:31
  telling
• 22:31
  me
• 22:31
  with
• 22:32
  that
• 22:32
  statistic?
• 22:32
  Like,
• 22:33
  I
• 22:33
  don't
• 22:33
  get
• 22:33
  it.
• 22:33
  So,
• 22:33
  like,
• 22:34
  it
• 22:34
  seems
• 22:35
  like
• 22:35
  they're
• 22:35
  reaching
• 22:36
  as
• 22:36
  well
• 22:36
  for
• 22:36
  this.
• 22:37
  And
• 22:37
  so
• 22:37
  I
• 22:37
  just
• 22:37
  don't
• 22:37
  know
• 22:38
  strategically,
• 22:38
  why,
• 22:39
  what
• 22:39
  is
• 22:39
  it?
• 22:40
  Why
• 22:40
  does
• 22:40
  Amazon
• 22:40
  have
• 22:41
  a
• 22:41
  right
• 22:41
  to
• 22:41
  win
• 22:41
  in
• 22:41
  grocery
• 22:42
  at
• 22:42
  this
• 22:42
  point
• 22:42
  compared
• 22:43
  to
• 22:43
  the
• 22:43
  competition?
• 22:43
  I
• 22:44
  just
• 22:44
  don't
• 22:44
  understand
• 22:44
  that.
• 22:45
  But
• 22:45
  I
• 22:45
  don't
• 22:45
  know.
• 22:46
  I'll
• 22:46
  give
• 22:46
  one.
• 22:46
  Do
• 22:47
  any
• 22:47
  of
• 22:47
  you
• 22:47
  guys
• 22:47
  want
• 22:47
  the
• 22:47
  last
• 22:48
  word
• 22:48
  to,
• 22:48
  to
• 22:48
  retort
• 22:49
  on
• 22:49
  that?
• 22:51
  Sure,
• 22:51
  I'll
• 22:51
  take
• 22:51
  that
• 22:51
  one.
• 22:51
  So,
• 22:52
  you
• 22:52
  know,
• 22:52
  I
• 22:52
  think
• 22:52
  why
• 22:52
  do
• 22:53
  they
• 22:53
  have
• 22:53
  the
• 22:53
  right
• 22:53
  to
• 22:53
  win?
• 22:54
  You
• 22:54
  know,
• 22:54
  and
• 22:54
  I
• 22:54
  think
• 22:54
  it
• 22:55
  really
• 22:55
  is,
• 22:55
  I
• 22:55
  think
• 22:56
  this
• 22:56
  is
• 22:56
  probably
• 22:56
  one
• 22:56
  of
• 22:56
  the
• 22:57
  best
• 22:57
  use
• 22:57
  cases
• 22:57
  for,
• 22:57
  you
• 22:58
  know,
• 22:58
  the
• 22:58
  divergence
• 22:59
  of
• 22:59
  the
• 22:59
  physical
• 22:59
  and
• 23:00
  the
• 23:00
  digital.
• 23:01
  Right.
• 23:01
  And
• 23:01
  I
• 23:01
  think
• 23:01
  Amazon's
• 23:02
  been
• 23:02
  reserved
• 23:03
  in
• 23:03
  that
• 23:03
  approach.
• 23:04
  Right.
• 23:04
  But
• 23:04
  we're
• 23:04
  starting
• 23:04
  to
• 23:05
  see
• 23:05
  it,
• 23:05
  we're
• 23:05
  starting
• 23:05
  to
• 23:05
  see
• 23:05
  the
• 23:06
  digital
• 23:06
  encroach
• 23:06
  on
• 23:06
  Whole
• 23:07
  Foods.
• 23:07
  Right.
• 23:07
  In
• 23:08
  the
• 23:08
  last
• 23:08
  time
• 23:08
  that
• 23:08
  I
• 23:08
  placed
• 23:09
  an
• 23:09
  order
• 23:09
  on
• 23:09
  Amazon,
• 23:10
  you
• 23:10
  know,
• 23:10
  I'm
• 23:10
  loaded
• 23:11
  to
• 23:11
  it,
• 23:11
  you
• 23:11
  know,
• 23:11
  anything
• 23:12
  else
• 23:12
  window
• 23:12
  where
• 23:12
  it
• 23:13
  prompts
• 23:13
  me
• 23:13
  to
• 23:13
  fulfill,
• 23:14
  you
• 23:14
  know,
• 23:14
  traditional
• 23:14
  food
• 23:15
  staples,
• 23:15
  right.
• 23:15
  Perishables,
• 23:16
  arguably
• 23:17
  coming
• 23:17
  from
• 23:17
  Whole
• 23:18
  Foods.
• 23:18
  You
• 23:18
  know,
• 23:18
  when
• 23:19
  you're
• 23:19
  facilitating
• 23:19
  returns
• 23:20
  for
• 23:20
  Amazon,
• 23:20
  you
• 23:21
  know,
• 23:21
  you
• 23:21
  have
• 23:21
  the
• 23:21
  convenience
• 23:22
  of
• 23:22
  dropping
• 23:22
  into
• 23:22
  Whole
• 23:22
  Foods
• 23:23
  for
• 23:23
  that.
• 23:23
  So
• 23:24
  I
• 23:24
  think
• 23:24
  what's
• 23:24
  going
• 23:24
  to
• 23:24
  set
• 23:24
  them
• 23:25
  apart
• 23:25
  is
• 23:25
  really
• 23:25
  that
• 23:26
  360
• 23:26
  degree
• 23:27
  access
• 23:27
  into
• 23:27
  insights.
• 23:28
  So
• 23:28
  I
• 23:28
  think,
• 23:29
  you
• 23:29
  know,
• 23:29
  you
• 23:29
  bring
• 23:29
  up
• 23:30
  a
• 23:30
  point.
• 23:30
  It
• 23:30
  is
• 23:30
  incredibly
• 23:31
  imperative
• 23:31
  to
• 23:31
  protect
• 23:32
  the
• 23:32
  core
• 23:32
  and
• 23:33
  understand
• 23:33
  the
• 23:33
  core
• 23:34
  consumers.
• 23:34
  But
• 23:34
  I
• 23:34
  think
• 23:35
  the
• 23:35
  robust
• 23:35
  insights
• 23:36
  and
• 23:36
  analytics
• 23:36
  that
• 23:36
  can
• 23:37
  be
• 23:37
  brought
• 23:37
  in
• 23:37
  from
• 23:37
  the
• 23:38
  digital
• 23:38
  as
• 23:38
  well
• 23:39
  as
• 23:39
  the
• 23:39
  other
• 23:40
  banners
• 23:40
  that
• 23:41
  Amazon
• 23:41
  operates
• 23:42
  does
• 23:43
  bring
• 23:43
  meaningful
• 23:43
  insights
• 23:44
  into
• 23:44
  the
• 23:44
  consumers.
• 23:45
  So
• 23:45
  provided
• 23:45
  there
• 23:46
  to
• 23:46
  the
• 23:46
  Whole
• 23:46
  Foods
• 23:46
  consumer,
• 23:47
  so
• 23:47
  provided
• 23:47
  they
• 23:47
  are
• 23:48
  able
• 23:48
  to
• 23:48
  preserve,
• 23:48
  you
• 23:48
  know,
• 23:49
  what's
• 23:49
  made
• 23:49
  them
• 23:49
  successful
• 23:50
  to
• 23:50
  date,
• 23:50
  but
• 23:50
  also
• 23:50
  augment
• 23:51
  that
• 23:51
  with
• 23:51
  those
• 23:51
  additional
• 23:52
  opportunities
• 23:52
  to
• 23:53
  spot,
• 23:53
  identify
• 23:54
  and
• 23:55
  react
• 23:55
  to
• 23:55
  trends
• 23:56
  in
• 23:57
  a
• 23:57
  much
• 23:57
  more
• 23:57
  meaningful
• 23:58
  and
• 23:58
  faster
• 23:58
  manner
• 23:59
  presents
• 24:00
  a
• 24:00
  value
• 24:00
  proposition
• 24:00
  for
• 24:01
  the
• 24:01
  Whole
• 24:01
  Foods
• 24:01
  consumer.
• 24:03
  Okay,
• 24:03
  okay,
• 24:04
  well,
• 24:04
  I
• 24:04
  guess
• 24:04
  we'll,
• 24:04
  I
• 24:05
  think
• 24:05
  we'll
• 24:05
  agree
• 24:05
  to
• 24:05
  disagree
• 24:06
  on
• 24:06
  this
• 24:06
  one.
• 24:06
  We'll
• 24:06
  see
• 24:07
  where
• 24:07
  we
• 24:07
  go
• 24:07
  with
• 24:07
  the
• 24:07
  rest
• 24:07
  of
• 24:08
  the
• 24:08
  show.
• 24:08
  All
• 24:09
  right,
• 24:09
  let's
• 24:09
  move
• 24:09
  on
• 24:09
  to
• 24:10
  headline
• 24:10
  number
• 24:10
  three.
• 24:10
  H&M
• 24:11
  is
• 24:11
  betting
• 24:12
  on
• 24:12
  AI
• 24:12
  to
• 24:12
  upgrade
• 24:13
  stores
• 24:13
  and
• 24:13
  to
• 24:14
  face
• 24:14
  off
• 24:14
  against
• 24:14
  online
• 24:15
  rivals.
• 24:16
  According
• 24:16
  to
• 24:16
  the
• 24:16
  Wall
• 24:16
  Street
• 24:17
  Journal,
• 24:17
  H
• 24:17
  and
• 24:17
  M
• 24:17
  is
• 24:18
  betting
• 24:18
  on
• 24:18
  upgrading
• 24:18
  a
• 24:19
  slimmed
• 24:19
  down
• 24:19
  store
• 24:19
  network
• 24:20
  to
• 24:20
  regain
• 24:21
  ground
• 24:21
  lost
• 24:21
  to
• 24:22
  rivals
• 24:22
  that
• 24:22
  sell
• 24:23
  purely
• 24:23
  online
• 24:24
  and
• 24:24
  hopes
• 24:25
  that
• 24:25
  artificial
• 24:25
  intelligence
• 24:26
  will
• 24:26
  smooth
• 24:26
  out
• 24:27
  the
• 24:27
  integration
• 24:27
  of
• 24:27
  its
• 24:28
  digital
• 24:28
  operations
• 24:28
  with
• 24:29
  its
• 24:29
  its
• 24:29
  physical
• 24:29
  Footprint.
• 24:30
  H&M's
• 24:31
  share
• 24:31
  of
• 24:31
  the
• 24:31
  global
• 24:32
  apparel
• 24:32
  market
• 24:32
  declined
• 24:33
  to
• 24:33
  1.1%
• 24:34
  last
• 24:34
  year
• 24:34
  from
• 24:35
  1.2%
• 24:36
  in
• 24:36
  2019
• 24:37
  before
• 24:37
  the
• 24:38
  pandemic.
• 24:38
  According
• 24:38
  to
• 24:39
  global
• 24:39
  data.
• 24:40
  Zara's
• 24:40
  market
• 24:41
  share
• 24:41
  grew
• 24:41
  to
• 24:42
  1.3%
• 24:43
  from
• 24:43
  1%
• 24:44
  during
• 24:44
  the
• 24:45
  same
• 24:45
  time
• 24:45
  period.
• 24:46
  But
• 24:46
  shein
• 24:47
  expanded
• 24:48
  rapidly
• 24:48
  to
• 24:49
  leapfrog
• 24:49
  the
• 24:49
  European
• 24:50
  fast
• 24:50
  fashion
• 24:50
  giants
• 24:51
  with
• 24:51
  a
• 24:51
  market
• 24:51
  share
• 24:52
  of
• 24:52
  1.5%
• 24:53
  in
• 24:53
  2024,
• 24:54
  up
• 24:54
  from
• 24:55
  0.1%
• 24:56
  in
• 24:56
  25
• 24:57
  years
• 24:57
  before.
• 24:57
  H&M
• 24:58
  has
• 24:58
  been
• 24:58
  applying
• 24:59
  predictive
• 24:59
  AI
• 25:00
  for
• 25:00
  several
• 25:00
  years
• 25:00
  and
• 25:01
  is
• 25:01
  exploring
• 25:01
  the
• 25:01
  use
• 25:02
  of
• 25:02
  generative
• 25:02
  AI
• 25:03
  and
• 25:03
  AI
• 25:03
  agents.
• 25:04
  Attracts
• 25:04
  consumer
• 25:05
  data
• 25:05
  around
• 25:05
  fashion
• 25:06
  trends
• 25:06
  Style
• 25:07
  preferences
• 25:07
  and
• 25:07
  sizes
• 25:08
  to
• 25:08
  learn
• 25:08
  which
• 25:09
  products
• 25:09
  sell
• 25:09
  best
• 25:09
  in
• 25:10
  different
• 25:10
  markets
• 25:11
  and
• 25:11
  transfers
• 25:11
  data
• 25:12
  to
• 25:12
  stores
• 25:12
  with
• 25:12
  the
• 25:12
  aim
• 25:13
  of
• 25:13
  delivering
• 25:13
  better
• 25:14
  consumer
• 25:14
  experience.
• 25:15
  It
• 25:15
  said
• 25:16
  the
• 25:16
  company
• 25:16
  also
• 25:17
  relies
• 25:17
  on
• 25:17
  AI
• 25:17
  for
• 25:18
  supply
• 25:18
  chain
• 25:18
  management,
• 25:19
  pricing
• 25:19
  and
• 25:19
  marketing,
• 25:20
  among
• 25:20
  other
• 25:21
  tasks.
• 25:21
  Brooks,
• 25:22
  we're
• 25:22
  going
• 25:22
  to
• 25:22
  you
• 25:22
  first
• 25:22
  here.
• 25:24
  Will
• 25:24
  the
• 25:24
  focus
• 25:24
  on
• 25:24
  AI
• 25:25
  and
• 25:25
  better
• 25:25
  store
• 25:25
  operations
• 25:26
  be
• 25:26
  enough
• 25:26
  for
• 25:26
  H
• 25:27
  and
• 25:27
  M
• 25:27
  to
• 25:27
  stave
• 25:27
  off
• 25:28
  the
• 25:28
  threat
• 25:28
  of
• 25:28
  Shein
• 25:29
  and
• 25:29
  Temu?
• 25:30
  Oh,
• 25:31
  hey,
• 25:31
  and
• 25:31
  I
• 25:31
  just
• 25:32
  counted.
• 25:32
  You
• 25:33
  said
• 25:33
  AI
• 25:34
  12
• 25:34
  times
• 25:35
  in
• 25:35
  what
• 25:35
  you
• 25:35
  just.
• 25:36
  Oh,
• 25:36
  my
• 25:36
  God.
• 25:37
  Or
• 25:38
  maybe
• 25:38
  it
• 25:38
  was
• 25:38
  13
• 25:38
  times.
• 25:39
  Now
• 25:39
  I'm
• 25:40
  reading
• 25:40
  the
• 25:40
  Wall
• 25:40
  Street
• 25:41
  Journal
• 25:41
  article.
• 25:41
  Brooks,
• 25:42
  I
• 25:42
  take
• 25:42
  no
• 25:42
  responsibility
• 25:43
  for
• 25:43
  that.
• 25:43
  But
• 25:44
  yes,
• 25:44
  I
• 25:44
  agree
• 25:44
  with
• 25:45
  you.
• 25:45
  Go
• 25:45
  ahead.
• 25:46
  Look,
• 25:47
  I
• 25:47
  think
• 25:47
  it's
• 25:47
  hard
• 25:47
  to
• 25:47
  say
• 25:48
  no
• 25:48
  to
• 25:48
  more
• 25:48
  AI.
• 25:49
  I
• 25:49
  mean,
• 25:49
  I'm
• 25:50
  not
• 25:50
  going
• 25:50
  to
• 25:50
  buck
• 25:50
  that
• 25:50
  trend.
• 25:51
  Yeah.
• 25:52
  And
• 25:52
  I'm
• 25:52
  going
• 25:52
  to
• 25:52
  say
• 25:53
  that
• 25:53
  fast
• 25:54
  fashion
• 25:54
  has
• 25:55
  a
• 25:55
  lot
• 25:55
  more
• 25:55
  to
• 25:55
  gain
• 25:56
  than
• 25:56
  most.
• 25:57
  I
• 25:57
  mean,
• 25:57
  H
• 25:57
  and
• 25:57
  M
• 25:58
  is
• 25:58
  going
• 25:58
  to
• 25:58
  benefit
• 25:59
  a
• 25:59
  lot
• 25:59
  here.
• 25:59
  So
• 26:00
  I
• 26:00
  like
• 26:00
  the
• 26:00
  push.
• 26:02
  Think
• 26:02
  about
• 26:02
  the
• 26:02
  opportunity
• 26:03
  with
• 26:03
  AI,
• 26:04
  particularly
• 26:04
  in
• 26:05
  apparel
• 26:05
  returns.
• 26:06
  You're
• 26:06
  talking
• 26:07
  to
• 26:07
  somebody
• 26:07
  who
• 26:07
  spends
• 26:08
  a
• 26:08
  lot
• 26:08
  of
• 26:08
  time
• 26:08
  in
• 26:09
  A
• 26:09
  and
• 26:09
  M.
• 26:09
  And
• 26:10
  you
• 26:10
  know
• 26:10
  what
• 26:10
  I'm
• 26:10
  doing
• 26:12
  in.
• 26:12
  H
• 26:12
  and
• 26:12
  M.
• 26:13
  H
• 26:13
  and
• 26:13
  M?
• 26:13
  Yeah,
• 26:14
  I
• 26:14
  said
• 26:14
  A
• 26:14
  and
• 26:14
  M
• 26:15
  both.
• 26:15
  You
• 26:16
  spend
• 26:16
  time
• 26:16
  in
• 26:16
  both.
• 26:18
  I
• 26:18
  spent
• 26:18
  a
• 26:19
  lot
• 26:19
  of
• 26:19
  time
• 26:19
  in
• 26:19
  H
• 26:19
  and
• 26:20
  M
• 26:20
  returning
• 26:21
  my
• 26:21
  wife's
• 26:22
  online
• 26:24
  apparel
• 26:24
  purchases.
• 26:26
  And
• 26:26
  anything
• 26:26
  that
• 26:27
  you
• 26:27
  can
• 26:27
  do
• 26:27
  to
• 26:28
  make
• 26:28
  that
• 26:28
  a
• 26:28
  more
• 26:28
  efficient
• 26:29
  process,
• 26:29
  reduce
• 26:30
  the
• 26:30
  number
• 26:30
  of
• 26:31
  returns
• 26:32
  that's
• 26:32
  got
• 26:32
  big
• 26:34
  return
• 26:34
  on
• 26:34
  investment
• 26:35
  for
• 26:36
  H
• 26:36
  and
• 26:36
  M.
• 26:37
  Right.
• 26:38
  Yeah.
• 26:38
  Bryson,
• 26:39
  what
• 26:39
  about
• 26:39
  you?
• 26:39
  What
• 26:40
  are
• 26:40
  your
• 26:40
  thoughts
• 26:40
  here?
• 26:40
  Do
• 26:40
  you
• 26:41
  think
• 26:41
  that
• 26:41
  this
• 26:41
  is
• 26:41
  a
• 26:41
  smart
• 26:42
  investment
• 26:42
  and
• 26:43
  will
• 26:43
  this
• 26:43
  keep
• 26:44
  them
• 26:44
  in
• 26:45
  the
• 26:46
  competition
• 26:47
  against
• 26:47
  Shein
• 26:48
  and
• 26:48
  Temu?
• 26:49
  So
• 26:49
  I
• 26:49
  think
• 26:49
  it's
• 26:50
  the
• 26:50
  right
• 26:50
  move.
• 26:50
  You
• 26:50
  know,
• 26:51
  it's
• 26:52
  hard
• 26:52
  to
• 26:52
  argue
• 26:52
  that
• 26:52
  it's
• 26:52
  not
• 26:53
  right.
• 26:53
  It's
• 26:53
  going
• 26:53
  to
• 26:54
  help
• 26:54
  them,
• 26:55
  you
• 26:55
  know,
• 26:55
  really
• 26:56
  zero
• 26:56
  in
• 26:56
  on
• 26:56
  better
• 26:57
  understanding
• 26:57
  their
• 26:57
  customers.
• 26:58
  Aligning
• 26:59
  assortment.
• 27:00
  The
• 27:00
  bigger
• 27:00
  question,
• 27:00
  is
• 27:01
  this
• 27:01
  going
• 27:01
  to
• 27:01
  be
• 27:01
  enough
• 27:01
  to
• 27:01
  stave
• 27:02
  off
• 27:02
  TEMU
• 27:02
  and
• 27:02
  the
• 27:02
  threat
• 27:03
  of
• 27:03
  Sheen?
• 27:03
  No.
• 27:03
  Yeah.
• 27:04
  It's
• 27:04
  not.
• 27:04
  I
• 27:05
  think
• 27:05
  what
• 27:05
  we
• 27:05
  have
• 27:05
  to
• 27:05
  recognize
• 27:06
  here
• 27:06
  is
• 27:06
  that,
• 27:07
  you
• 27:07
  know,
• 27:07
  it
• 27:08
  is
• 27:08
  the
• 27:08
  right
• 27:08
  move,
• 27:08
  it
• 27:08
  is
• 27:09
  the
• 27:09
  right
• 27:09
  play.
• 27:09
  But
• 27:10
  just
• 27:10
  in
• 27:10
  taking
• 27:11
  this
• 27:11
  approach,
• 27:11
  they're
• 27:12
  essentially
• 27:12
  going
• 27:12
  to
• 27:12
  narrow
• 27:13
  their
• 27:13
  assortment
• 27:13
  and
• 27:13
  their
• 27:14
  offerings
• 27:14
  for
• 27:14
  the
• 27:14
  customer.
• 27:14
  Customers.
• 27:15
  Right.
• 27:15
  It's
• 27:15
  going
• 27:16
  to
• 27:16
  be
• 27:16
  the
• 27:16
  right
• 27:16
  products,
• 27:16
  but
• 27:17
  it
• 27:17
  kind
• 27:17
  of,
• 27:17
  you
• 27:18
  know,
• 27:18
  flies
• 27:18
  contrary
• 27:19
  to
• 27:19
  the
• 27:19
  unlock
• 27:19
  that
• 27:20
  digital
• 27:20
  has
• 27:20
  in
• 27:20
  the
• 27:20
  sense
• 27:21
  of
• 27:21
  the
• 27:21
  expanded
• 27:21
  assortment.
• 27:22
  Right.
• 27:23
  So
• 27:23
  everything
• 27:23
  for
• 27:23
  everybody.
• 27:24
  And,
• 27:25
  you
• 27:25
  know,
• 27:25
  couple
• 27:25
  that
• 27:25
  with
• 27:25
  Sheen
• 27:26
  and
• 27:26
  temu's
• 27:26
  low
• 27:27
  cost,
• 27:27
  you
• 27:27
  know,
• 27:27
  high
• 27:28
  velocity
• 27:28
  model.
• 27:29
  It's,
• 27:30
  you
• 27:30
  know,
• 27:30
  creating
• 27:30
  an
• 27:30
  uneven
• 27:31
  playing
• 27:31
  field
• 27:31
  in
• 27:32
  that
• 27:32
  regard.
• 27:32
  It
• 27:33
  will
• 27:33
  drive
• 27:33
  efficiencies
• 27:34
  but,
• 27:34
  you
• 27:34
  know,
• 27:35
  it's,
• 27:35
  you
• 27:35
  know,
• 27:35
  potentially
• 27:36
  going
• 27:36
  to
• 27:36
  fall
• 27:36
  short
• 27:37
  of
• 27:37
  customer
• 27:37
  expectations
• 27:38
  with
• 27:38
  respect
• 27:38
  to
• 27:38
  assortment.
• 27:39
  And
• 27:39
  then,
• 27:39
  you
• 27:40
  know,
• 27:40
  we
• 27:40
  have
• 27:40
  to
• 27:40
  also
• 27:40
  take
• 27:41
  into
• 27:41
  account
• 27:41
  that
• 27:41
  just
• 27:41
  as
• 27:42
  H
• 27:42
  and
• 27:42
  M
• 27:42
  is
• 27:42
  now
• 27:42
  making
• 27:42
  this
• 27:43
  investment,
• 27:43
  we
• 27:43
  could
• 27:43
  argue
• 27:44
  that
• 27:44
  Sheen
• 27:44
  and
• 27:44
  Temu
• 27:45
  have
• 27:45
  arguably
• 27:46
  been
• 27:46
  executed
• 27:47
  AI
• 27:47
  and
• 27:47
  probably
• 27:47
  doing
• 27:48
  so
• 27:48
  at
• 27:48
  a
• 27:48
  greater
• 27:48
  scale
• 27:49
  than
• 27:49
  that
• 27:49
  of
• 27:49
  H
• 27:50
  and
• 27:50
  M.
• 27:50
  So
• 27:50
  it
• 27:51
  becomes
• 27:51
  a
• 27:51
  way
• 27:51
  to
• 27:51
  narrow
• 27:52
  the
• 27:52
  gap.
• 27:53
  I
• 27:53
  don't
• 27:53
  think
• 27:53
  it
• 27:53
  becomes
• 27:54
  a
• 27:54
  point
• 27:54
  of
• 27:54
  differentiation.
• 27:55
  It
• 27:55
  is
• 27:55
  a
• 27:55
  must
• 27:55
  have
• 27:55
  and
• 27:56
  a
• 27:56
  must
• 27:56
  do,
• 27:57
  but
• 27:57
  it's
• 27:57
  not
• 27:57
  going
• 27:58
  to
• 27:58
  be
• 27:58
  enough
• 27:58
  to
• 27:58
  stave
• 27:58
  off
• 27:59
  their
• 27:59
  continued
• 27:59
  growth.
• 28:00
  Okay,
• 28:01
  I,
• 28:02
  Chris,
• 28:03
  you're
• 28:03
  nodding
• 28:04
  along.
• 28:04
  Are
• 28:04
  you
• 28:04
  in
• 28:05
  agreement
• 28:05
  here?
• 28:06
  Yeah,
• 28:06
  Unlike
• 28:06
  the
• 28:06
  last
• 28:07
  headline,
• 28:07
  I
• 28:08
  vociferously
• 28:08
  agree
• 28:09
  with
• 28:09
  Bryson
• 28:09
  on
• 28:09
  this
• 28:09
  one.
• 28:10
  I
• 28:10
  think
• 28:10
  it's
• 28:10
  the
• 28:10
  right
• 28:11
  move.
• 28:11
  Improving
• 28:12
  productivity
• 28:12
  is
• 28:13
  always
• 28:13
  a
• 28:13
  good
• 28:13
  thing
• 28:13
  to
• 28:13
  do,
• 28:13
  but,
• 28:14
  but
• 28:14
  it's
• 28:14
  not
• 28:14
  going
• 28:14
  to
• 28:14
  do
• 28:15
  a
• 28:15
  darn
• 28:15
  thing
• 28:15
  to
• 28:15
  stave
• 28:16
  off,
• 28:16
  you
• 28:16
  know,
• 28:17
  the
• 28:17
  growth
• 28:17
  threat
• 28:18
  from
• 28:18
  the
• 28:18
  online
• 28:19
  competitors,
• 28:20
  you
• 28:20
  know,
• 28:20
  because
• 28:21
  if
• 28:21
  you
• 28:21
  look
• 28:21
  at
• 28:21
  it
• 28:21
  like
• 28:22
  improving
• 28:22
  stores
• 28:23
  is
• 28:23
  exactly
• 28:23
  about
• 28:23
  that.
• 28:23
  It's
• 28:24
  about
• 28:24
  improving,
• 28:24
  you
• 28:25
  know,
• 28:25
  things
• 28:25
  on
• 28:26
  the
• 28:26
  margin.
• 28:26
  It
• 28:26
  isn't
• 28:27
  transformative,
• 28:27
  nor
• 28:28
  does
• 28:28
  it
• 28:28
  insulate
• 28:28
  you
• 28:29
  from
• 28:29
  the
• 28:29
  channel
• 28:29
  threat.
• 28:30
  So,
• 28:30
  you
• 28:30
  know,
• 28:30
  and
• 28:31
  I
• 28:31
  would
• 28:31
  actually
• 28:31
  go
• 28:31
  a
• 28:32
  step
• 28:32
  further
• 28:32
  here,
• 28:32
  like
• 28:32
  where
• 28:33
  I
• 28:33
  think
• 28:33
  it,
• 28:34
  it
• 28:34
  brings
• 28:34
  up
• 28:34
  questions
• 28:35
  about
• 28:35
  how
• 28:36
  the
• 28:36
  leadership
• 28:36
  at
• 28:36
  H
• 28:36
  and
• 28:37
  M
• 28:37
  is
• 28:37
  really
• 28:37
  thinking
• 28:37
  about
• 28:37
  this.
• 28:38
  Because
• 28:38
  if
• 28:38
  this
• 28:38
  is
• 28:38
  what
• 28:39
  they're
• 28:39
  talking
• 28:39
  about,
• 28:39
  I
• 28:40
  wonder.
• 28:40
  I
• 28:40
  don't
• 28:41
  think
• 28:41
  they've
• 28:41
  got
• 28:41
  enough
• 28:41
  dry
• 28:41
  powder
• 28:42
  in
• 28:42
  their
• 28:42
  keg.
• 28:43
  And
• 28:43
  the
• 28:43
  reason
• 28:43
  I
• 28:43
  say
• 28:43
  that
• 28:44
  too
• 28:44
  is
• 28:44
  because
• 28:44
  I
• 28:44
  look
• 28:44
  at
• 28:45
  their
• 28:45
  soho
• 28:45
  store
• 28:46
  in
• 28:46
  New
• 28:46
  York.
• 28:47
  It's
• 28:47
  a
• 28:47
  very
• 28:47
  reduced
• 28:48
  assortment
• 28:48
  as
• 28:49
  well
• 28:49
  that
• 28:49
  plays
• 28:50
  on
• 28:50
  this
• 28:50
  idea
• 28:51
  that
• 28:51
  you
• 28:51
  can
• 28:51
  put
• 28:51
  less
• 28:52
  products
• 28:52
  in
• 28:52
  your
• 28:52
  store.
• 28:53
  And
• 28:53
  I
• 28:54
  just
• 28:54
  don't
• 28:54
  think
• 28:54
  at
• 28:55
  their
• 28:55
  margins
• 28:56
  they
• 28:56
  can
• 28:56
  afford
• 28:57
  to
• 28:57
  do
• 28:57
  that
• 28:57
  in
• 28:58
  a
• 28:58
  way
• 28:58
  that
• 28:58
  they're
• 28:58
  going
• 28:58
  to
• 28:59
  be
• 28:59
  able
• 28:59
  to
• 28:59
  compete
• 29:00
  against
• 29:00
  their
• 29:00
  current
• 29:01
  business
• 29:01
  model.
• 29:01
  Then
• 29:02
  you
• 29:02
  throw
• 29:02
  in
• 29:02
  the
• 29:02
  threat
• 29:03
  of
• 29:03
  Sheehan
• 29:03
  and
• 29:03
  Teemu
• 29:04
  as
• 29:04
  well.
• 29:05
  I
• 29:05
  just
• 29:05
  think
• 29:05
  it's,
• 29:06
  it's,
• 29:06
  it's
• 29:06
  going
• 29:06
  to
• 29:06
  be
• 29:07
  a
• 29:07
  hard
• 29:07
  game
• 29:07
  to
• 29:07
  play.
• 29:08
  And
• 29:08
  so
• 29:08
  I
• 29:08
  think
• 29:08
  the,
• 29:09
  I
• 29:09
  think
• 29:09
  the,
• 29:09
  the,
• 29:10
  the
• 29:10
  leadership
• 29:10
  needs
• 29:11
  to
• 29:11
  come
• 29:11
  up
• 29:11
  with
• 29:11
  some
• 29:11
  more
• 29:11
  ideas
• 29:12
  here
• 29:12
  pretty
• 29:12
  quick.
• 29:12
  Is,
• 29:13
  is
• 29:13
  my,
• 29:13
  is
• 29:13
  my
• 29:14
  take
• 29:14
  on
• 29:14
  this
• 29:14
  one.
• 29:15
  What
• 29:15
  else
• 29:15
  would
• 29:16
  you
• 29:16
  do?
• 29:16
  I
• 29:16
  mean,
• 29:16
  what
• 29:17
  would
• 29:17
  you
• 29:17
  have
• 29:18
  them
• 29:18
  do
• 29:19
  to
• 29:19
  really
• 29:19
  stay
• 29:20
  competitive
• 29:20
  that
• 29:21
  they
• 29:21
  aren't
• 29:21
  doing?
• 29:21
  Because
• 29:22
  I
• 29:22
  think
• 29:22
  that's
• 29:22
  my
• 29:23
  question
• 29:23
  here,
• 29:23
  like,
• 29:23
  I
• 29:24
  think
• 29:24
  they
• 29:24
  are.
• 29:25
  This
• 29:25
  is
• 29:25
  the
• 29:25
  right
• 29:26
  move
• 29:26
  for
• 29:26
  H
• 29:26
  and
• 29:26
  M
• 29:27
  to
• 29:27
  be
• 29:27
  focused
• 29:28
  on,
• 29:29
  to
• 29:29
  stay
• 29:29
  competitive
• 29:30
  as
• 29:30
  a
• 29:30
  business
• 29:31
  entity.
• 29:31
  But
• 29:31
  what
• 29:31
  would
• 29:32
  you
• 29:32
  say
• 29:32
  that
• 29:32
  they
• 29:32
  should
• 29:32
  be
• 29:33
  focusing
• 29:33
  more
• 29:33
  on,
• 29:34
  Chris?
• 29:35
  To,
• 29:35
  to
• 29:35
  stay
• 29:36
  more
• 29:36
  competitive
• 29:36
  or
• 29:37
  to
• 29:37
  put
• 29:37
  them
• 29:37
  in
• 29:37
  a
• 29:37
  better
• 29:37
  place
• 29:38
  against
• 29:38
  Shein
• 29:38
  and
• 29:38
  Timu.
• 29:39
  Yeah,
• 29:39
  I
• 29:40
  think
• 29:40
  because
• 29:40
  you
• 29:40
  have
• 29:40
  this.
• 29:41
  I
• 29:41
  think
• 29:41
  this
• 29:41
  is
• 29:41
  very
• 29:41
  similar
• 29:42
  to
• 29:42
  what
• 29:42
  happened
• 29:43
  with
• 29:43
  E
• 29:43
  Commerce
• 29:43
  back
• 29:43
  in
• 29:44
  the
• 29:44
  day.
• 29:44
  I
• 29:44
  mean,
• 29:44
  you
• 29:45
  have
• 29:45
  stores,
• 29:45
  so
• 29:46
  stores
• 29:46
  are
• 29:46
  still
• 29:46
  going
• 29:46
  to
• 29:46
  be
• 29:46
  a
• 29:47
  valuable
• 29:47
  asset
• 29:48
  in
• 29:48
  terms
• 29:48
  of
• 29:48
  how
• 29:48
  you
• 29:49
  can
• 29:49
  reach
• 29:49
  your
• 29:49
  consumer.
• 29:50
  So
• 29:51
  I
• 29:51
  think
• 29:51
  then
• 29:51
  you
• 29:51
  have
• 29:51
  to
• 29:51
  meet
• 29:52
  the
• 29:52
  table
• 29:52
  stakes
• 29:52
  game
• 29:53
  on
• 29:53
  the
• 29:53
  production
• 29:54
  side
• 29:54
  and
• 29:54
  the
• 29:55
  fast
• 29:55
  fashion
• 29:55
  that
• 29:55
  you
• 29:56
  can
• 29:56
  produce
• 29:56
  digitally.
• 29:57
  So
• 29:57
  I
• 29:57
  would
• 29:57
  actually
• 29:58
  be
• 29:58
  trying
• 29:58
  to
• 29:59
  emulate
• 29:59
  what
• 30:00
  Temu
• 30:00
  and
• 30:00
  Sheen
• 30:01
  are
• 30:01
  doing
• 30:01
  with
• 30:01
  the
• 30:01
  factories
• 30:02
  that
• 30:02
  you're
• 30:02
  working
• 30:02
  with
• 30:03
  and
• 30:03
  giving
• 30:03
  the
• 30:04
  customers
• 30:04
  the
• 30:04
  same
• 30:04
  options
• 30:05
  to
• 30:05
  have
• 30:06
  those
• 30:06
  small
• 30:07
  runs
• 30:07
  of
• 30:07
  batch
• 30:07
  Pro
• 30:08
  or
• 30:08
  those
• 30:08
  small
• 30:08
  runs
• 30:09
  of
• 30:09
  products
• 30:09
  sent
• 30:10
  to
• 30:10
  them
• 30:10
  on
• 30:10
  demand.
• 30:11
  That's.
• 30:11
  That's
• 30:11
  what
• 30:11
  I
• 30:12
  would
• 30:12
  be
• 30:12
  doing.
• 30:12
  I
• 30:12
  would
• 30:13
  be
• 30:13
  trying
• 30:13
  to
• 30:13
  fortify
• 30:14
  my
• 30:14
  position,
• 30:15
  you
• 30:15
  know,
• 30:15
  similar
• 30:15
  to
• 30:16
  how
• 30:16
  people
• 30:16
  ultimately
• 30:17
  fortified
• 30:17
  their
• 30:17
  position
• 30:17
  on
• 30:18
  E
• 30:18
  Commerce
• 30:18
  back
• 30:18
  in
• 30:18
  the
• 30:19
  day.
• 30:19
  Yeah,
• 30:20
  I
• 30:20
  think.
• 30:20
  I
• 30:20
  think
• 30:20
  there's
• 30:21
  a
• 30:21
  couple
• 30:21
  things
• 30:21
  that
• 30:21
  we
• 30:21
  have
• 30:21
  to
• 30:22
  take
• 30:22
  into
• 30:22
  account
• 30:23
  here.
• 30:23
  I
• 30:23
  think,
• 30:24
  you
• 30:25
  know,
• 30:25
  the.
• 30:25
  The
• 30:25
  soho
• 30:26
  store,
• 30:26
  the
• 30:26
  H
• 30:26
  and
• 30:27
  M
• 30:27
  store
• 30:27
  is
• 30:27
  a
• 30:27
  lab
• 30:28
  store
• 30:28
  for
• 30:28
  H
• 30:28
  and
• 30:28
  M.
• 30:29
  I
• 30:29
  don't
• 30:29
  think
• 30:29
  that,
• 30:30
  you
• 30:30
  know,
• 30:30
  they
• 30:30
  are.
• 30:31
  They
• 30:31
  tested
• 30:31
  fair
• 30:31
  point.
• 30:32
  They
• 30:32
  haven't
• 30:32
  seen
• 30:32
  that
• 30:32
  store
• 30:33
  yet.
• 30:33
  That
• 30:33
  they're
• 30:33
  rolling,
• 30:34
  that
• 30:34
  they've
• 30:34
  already
• 30:34
  rolled
• 30:35
  out,
• 30:35
  like
• 30:35
  the
• 30:36
  RFID
• 30:36
  programming
• 30:37
  and
• 30:37
  that
• 30:38
  kind
• 30:38
  of
• 30:38
  thing.
• 30:38
  Like,
• 30:38
  they've
• 30:38
  already
• 30:39
  rolled
• 30:39
  that
• 30:39
  out
• 30:39
  to
• 30:39
  other
• 30:39
  stores.
• 30:40
  They're
• 30:40
  not
• 30:40
  consolidating.
• 30:41
  I
• 30:42
  think
• 30:42
  that
• 30:42
  was
• 30:43
  more
• 30:43
  for
• 30:43
  a
• 30:43
  lab
• 30:44
  perspective
• 30:44
  to
• 30:44
  like,
• 30:45
  test
• 30:45
  on
• 30:45
  a
• 30:45
  smaller
• 30:46
  batch
• 30:46
  of
• 30:46
  product.
• 30:47
  But
• 30:47
  I
• 30:47
  think
• 30:47
  something
• 30:48
  that's
• 30:48
  really
• 30:48
  important
• 30:48
  to
• 30:49
  hit
• 30:49
  on
• 30:49
  is
• 30:49
  that.
• 30:50
  And
• 30:50
  Chris,
• 30:50
  you
• 30:51
  mentioned
• 30:51
  this,
• 30:51
  like,
• 30:51
  85%
• 30:52
  of
• 30:52
  shopping
• 30:53
  is
• 30:53
  still
• 30:53
  conducted
• 30:54
  in
• 30:55
  stores.
• 30:56
  H
• 30:56
  and
• 30:56
  M,
• 30:56
  I
• 30:56
  think,
• 30:57
  is
• 30:57
  smartly
• 30:57
  investing
• 30:58
  here
• 30:58
  in
• 30:58
  making
• 30:58
  sure
• 30:59
  overall
• 31:00
  else
• 31:01
  that
• 31:01
  if
• 31:01
  I
• 31:02
  do
• 31:02
  want
• 31:02
  fast
• 31:03
  fashion,
• 31:03
  I
• 31:03
  can
• 31:04
  get
• 31:04
  it
• 31:04
  that
• 31:04
  same
• 31:05
  day.
• 31:05
  And
• 31:05
  that
• 31:05
  they
• 31:06
  know
• 31:06
  they're
• 31:06
  investing
• 31:07
  in
• 31:07
  things
• 31:07
  like
• 31:08
  generative
• 31:08
  AI
• 31:09
  and
• 31:09
  agentic
• 31:09
  AI
• 31:10
  so
• 31:10
  that
• 31:10
  they
• 31:10
  can
• 31:10
  quickly
• 31:10
  provide
• 31:11
  that
• 31:11
  information
• 31:11
  to
• 31:12
  me
• 31:12
  as
• 31:12
  a
• 31:12
  consumer.
• 31:13
  So
• 31:13
  if
• 31:13
  I
• 31:13
  need
• 31:13
  a
• 31:14
  tank
• 31:14
  top,
• 31:14
  I
• 31:15
  don't
• 31:15
  have
• 31:15
  to
• 31:15
  wait
• 31:15
  two
• 31:15
  weeks
• 31:15
  for
• 31:16
  it
• 31:16
  to
• 31:16
  come
• 31:16
  from
• 31:16
  Sheehan
• 31:17
  and
• 31:17
  Tebow.
• 31:17
  I
• 31:17
  know
• 31:17
  I
• 31:18
  can
• 31:18
  go
• 31:18
  to
• 31:18
  my
• 31:19
  local
• 31:19
  store
• 31:19
  within
• 31:20
  five
• 31:20
  miles.
• 31:20
  They
• 31:21
  have
• 31:21
  sizes
• 31:21
  small,
• 31:22
  extra
• 31:22
  small,
• 31:23
  and
• 31:23
  medium.
• 31:24
  And
• 31:24
  I
• 31:24
  can
• 31:24
  choose
• 31:24
  from
• 31:25
  any
• 31:25
  of
• 31:25
  them.
• 31:25
  Like,
• 31:26
  that's
• 31:26
  what
• 31:26
  I
• 31:26
  think
• 31:26
  is
• 31:27
  really
• 31:27
  important
• 31:27
  about
• 31:27
  what
• 31:28
  H
• 31:28
  and
• 31:28
  M
• 31:28
  is
• 31:28
  doing
• 31:29
  here.
• 31:29
  And
• 31:29
  I
• 31:29
  think
• 31:29
  they
• 31:30
  deserve
• 31:30
  a
• 31:30
  little
• 31:30
  bit
• 31:30
  of
• 31:31
  credit
• 31:31
  for
• 31:31
  being
• 31:31
  like
• 31:32
  that
• 31:32
  place
• 31:33
  that
• 31:33
  confidently
• 31:34
  knows
• 31:34
  that
• 31:35
  where
• 31:35
  their
• 31:35
  products
• 31:36
  are,
• 31:36
  where
• 31:37
  their
• 31:37
  stock
• 31:37
  is,
• 31:38
  what's
• 31:38
  trending,
• 31:39
  and
• 31:39
  how
• 31:39
  they
• 31:39
  can
• 31:39
  put
• 31:40
  that
• 31:40
  at
• 31:40
  the
• 31:40
  forefront
• 31:41
  of
• 31:41
  their
• 31:41
  stores
• 31:42
  to
• 31:43
  still
• 31:43
  operate
• 31:43
  that
• 31:44
  model
• 31:44
  efficiently.
• 31:45
  I
• 31:45
  do
• 31:45
  think
• 31:45
  that
• 31:46
  there
• 31:46
  is
• 31:46
  probably
• 31:47
  some
• 31:48
  programming
• 31:48
  that
• 31:49
  needs
• 31:49
  to
• 31:49
  happen,
• 31:49
  though,
• 31:49
  to
• 31:50
  your
• 31:50
  point,
• 31:50
  Chris,
• 31:50
  where
• 31:50
  they
• 31:51
  can
• 31:51
  stand
• 31:52
  to
• 31:52
  compete
• 31:52
  for
• 31:52
  some
• 31:53
  other
• 31:53
  items
• 31:53
  that
• 31:53
  will
• 31:54
  take
• 31:54
  a
• 31:54
  little
• 31:54
  bit
• 31:54
  longer
• 31:55
  to
• 31:55
  get
• 31:55
  to
• 31:55
  consumers.
• 31:56
  But
• 31:57
  as
• 31:57
  long
• 31:57
  as
• 31:57
  this
• 31:57
  de
• 31:57
  minimis
• 31:58
  exception
• 31:59
  is
• 32:00
  removed,
• 32:01
  like,
• 32:01
  and
• 32:01
  the
• 32:01
  products
• 32:02
  cost
• 32:02
  the
• 32:02
  same
• 32:02
  and
• 32:03
  they're
• 32:03
  still
• 32:04
  taking
• 32:04
  two
• 32:04
  weeks
• 32:04
  to
• 32:05
  come
• 32:05
  from
• 32:05
  she
• 32:05
  and
• 32:05
  her
• 32:05
  teamu.
• 32:06
  I
• 32:06
  think
• 32:06
  that
• 32:07
  this
• 32:07
  is
• 32:07
  a
• 32:07
  really
• 32:07
  smart
• 32:08
  play
• 32:08
  from
• 32:08
  H
• 32:08
  and
• 32:09
  M.
• 32:09
  But
• 32:10
  I'll
• 32:10
  give
• 32:10
  you,
• 32:10
  I'll
• 32:11
  give
• 32:11
  you
• 32:11
  the
• 32:11
  last
• 32:11
  word,
• 32:12
  Chris.
• 32:12
  Go
• 32:12
  for
• 32:12
  it.
• 32:12
  Oh,
• 32:13
  no,
• 32:13
  I
• 32:13
  don't
• 32:13
  think
• 32:13
  so.
• 32:13
  I
• 32:14
  mean,
• 32:14
  I,
• 32:14
  I,
• 32:14
  I,
• 32:14
  I,
• 32:15
  I,
• 32:15
  I
• 32:15
  think
• 32:15
  I
• 32:15
  agree
• 32:16
  with
• 32:16
  everything
• 32:16
  you
• 32:16
  said.
• 32:17
  I
• 32:17
  just
• 32:17
  think
• 32:17
  it
• 32:17
  feels
• 32:18
  like
• 32:18
  it's
• 32:18
  more
• 32:18
  of
• 32:18
  a
• 32:18
  stop
• 32:19
  approach.
• 32:20
  And
• 32:20
  I
• 32:20
  think
• 32:20
  even,
• 32:20
  even
• 32:21
  this,
• 32:21
  even
• 32:22
  the
• 32:22
  volume
• 32:22
  numbers
• 32:22
  that
• 32:22
  you're
• 32:23
  quoting
• 32:23
  in
• 32:23
  the
• 32:23
  stores,
• 32:23
  and
• 32:23
  maybe
• 32:24
  Bryson
• 32:24
  and
• 32:24
  Brooks
• 32:24
  know
• 32:24
  this
• 32:25
  better
• 32:25
  than
• 32:25
  me.
• 32:25
  I
• 32:25
  have
• 32:25
  a
• 32:26
  feeling
• 32:26
  fast
• 32:26
  fashions,
• 32:27
  you
• 32:27
  know,
• 32:28
  bleed
• 32:28
  or
• 32:28
  impact
• 32:29
  on
• 32:29
  store
• 32:29
  volume
• 32:30
  is
• 32:30
  greater
• 32:30
  than,
• 32:30
  say,
• 32:31
  the
• 32:31
  online
• 32:31
  impact
• 32:32
  of,
• 32:32
  say,
• 32:32
  grocery
• 32:33
  or
• 32:33
  a
• 32:33
  comparative
• 32:34
  business
• 32:34
  too.
• 32:34
  But,
• 32:36
  but
• 32:36
  yeah,
• 32:36
  that's
• 32:36
  just
• 32:36
  my
• 32:37
  take.
• 32:37
  I
• 32:37
  think,
• 32:37
  you
• 32:37
  know,
• 32:37
  you're,
• 32:38
  I
• 32:38
  think
• 32:38
  you're
• 32:38
  dead
• 32:38
  right.
• 32:38
  It's
• 32:39
  something
• 32:39
  they
• 32:39
  have
• 32:39
  to
• 32:39
  do.
• 32:39
  But
• 32:40
  like
• 32:40
  the,
• 32:40
  the
• 32:40
  basic
• 32:41
  tea
• 32:41
  that
• 32:41
  I
• 32:41
  need
• 32:41
  right
• 32:42
  today,
• 32:42
  they're
• 32:43
  gonna
• 32:43
  always
• 32:43
  going
• 32:43
  to
• 32:44
  keep
• 32:44
  that
• 32:44
  business.
• 32:44
  It's
• 32:44
  all
• 32:45
  the
• 32:45
  other
• 32:45
  businesses
• 32:46
  that
• 32:46
  are
• 32:46
  getting
• 32:46
  siphoned
• 32:47
  off
• 32:47
  or
• 32:47
  all
• 32:47
  the
• 32:47
  other,
• 32:48
  you
• 32:48
  know,
• 32:48
  customer
• 32:49
  interactions
• 32:49
  that
• 32:49
  are
• 32:49
  getting
• 32:50
  siphoned
• 32:50
  off
• 32:50
  over
• 32:50
  time
• 32:50
  based
• 32:51
  on
• 32:51
  the
• 32:51
  exponential
• 32:52
  growth
• 32:52
  of
• 32:52
  this.
• 32:53
  And
• 32:53
  it's
• 32:53
  not
• 32:53
  just,
• 32:54
  it's
• 32:54
  not
• 32:54
  just
• 32:55
  us.
• 32:55
  Us
• 32:56
  and
• 32:56
  de
• 32:56
  minimis
• 32:56
  either,
• 32:57
  as
• 32:57
  we
• 32:57
  learned
• 32:57
  at
• 32:57
  Shop
• 32:58
  Talk
• 32:58
  Europe.
• 32:58
  I
• 32:58
  mean,
• 32:58
  this
• 32:59
  thing
• 32:59
  is
• 32:59
  big
• 32:59
  in
• 33:00
  Europe,
• 33:00
  too.
• 33:00
  Yeah.
• 33:01
  Let's
• 33:01
  bring
• 33:02
  Michael
• 33:02
  from
• 33:02
  Lowe's
• 33:03
  onto
• 33:03
  today's
• 33:04
  show.
• 33:09
  Joining
• 33:09
  us
• 33:09
  now
• 33:10
  for
• 33:10
  five
• 33:10
  insightful
• 33:11
  minutes
• 33:11
  to
• 33:11
  discuss
• 33:11
  his
• 33:12
  company's
• 33:12
  recent
• 33:12
  push
• 33:13
  into
• 33:13
  building
• 33:14
  a
• 33:14
  third
• 33:14
  party
• 33:14
  digital
• 33:15
  marketplace
• 33:15
  is
• 33:16
  Lowe's
• 33:17
  company's
• 33:17
  Vice
• 33:17
  president
• 33:17
  of
• 33:18
  Marketplace,
• 33:19
  Michael
• 33:19
  McCluskey.
• 33:20
  Michael,
• 33:20
  let's
• 33:20
  start
• 33:21
  with
• 33:21
  this.
• 33:21
  We've
• 33:21
  been
• 33:22
  seeing
• 33:22
  a
• 33:22
  lot
• 33:22
  of
• 33:22
  momentum
• 33:23
  around
• 33:23
  marketplaces
• 33:24
  with
• 33:24
  top
• 33:25
  retail
• 33:25
  leaders.
• 33:26
  Why
• 33:26
  was
• 33:26
  a
• 33:26
  marketplace
• 33:27
  prioritized
• 33:28
  at
• 33:28
  Lowe's
• 33:28
  and
• 33:29
  why
• 33:29
  now?
• 33:30
  You
• 33:30
  know,
• 33:31
  for
• 33:31
  us,
• 33:32
  Marketplace,
• 33:32
  it
• 33:33
  really
• 33:33
  starts
• 33:33
  with
• 33:33
  creating
• 33:34
  an
• 33:34
  endless
• 33:34
  aisle
• 33:35
  for
• 33:35
  our
• 33:35
  customers.
• 33:35
  Right.
• 33:36
  You
• 33:36
  know,
• 33:36
  the
• 33:36
  unique
• 33:37
  thing
• 33:37
  about
• 33:37
  the,
• 33:37
  the
• 33:38
  Lowe's
• 33:38
  customer,
• 33:38
  and
• 33:39
  I
• 33:39
  think
• 33:39
  what
• 33:39
  is
• 33:39
  going
• 33:40
  to
• 33:40
  continue
• 33:40
  to
• 33:40
  differentiate
• 33:41
  us
• 33:41
  quite
• 33:41
  a
• 33:42
  bit
• 33:42
  as
• 33:42
  we
• 33:42
  expand
• 33:43
  our
• 33:44
  digital
• 33:44
  experience
• 33:45
  for
• 33:45
  customers
• 33:45
  with
• 33:45
  Marketplace,
• 33:46
  is
• 33:47
  that
• 33:47
  our
• 33:47
  customers
• 33:47
  are
• 33:48
  coming
• 33:48
  to
• 33:48
  us
• 33:48
  not
• 33:48
  just
• 33:48
  to
• 33:48
  search
• 33:49
  for
• 33:49
  a
• 33:49
  product,
• 33:49
  but
• 33:50
  they're
• 33:50
  coming
• 33:50
  with
• 33:50
  a
• 33:50
  project
• 33:51
  in
• 33:51
  mind
• 33:51
  or
• 33:51
  a
• 33:51
  problem
• 33:52
  that
• 33:52
  they
• 33:52
  have
• 33:52
  to
• 33:52
  solve
• 33:53
  for
• 33:53
  their
• 33:53
  home.
• 33:53
  Right.
• 33:54
  And
• 33:54
  so
• 33:54
  we've
• 33:55
  been
• 33:55
  on
• 33:55
  a
• 33:55
  journey
• 33:55
  the
• 33:55
  past
• 33:56
  several
• 33:56
  years
• 33:56
  to
• 33:56
  really
• 33:57
  expand
• 33:57
  our
• 33:58
  digital
• 33:58
  experience
• 33:59
  at
• 33:59
  Lowe's
• 33:59
  and
• 33:59
  Marketplace
• 34:00
  just
• 34:00
  felt
• 34:00
  like
• 34:00
  the
• 34:01
  natural
• 34:01
  next
• 34:01
  step
• 34:02
  for
• 34:02
  us.
• 34:02
  Right.
• 34:02
  You
• 34:03
  know,
• 34:03
  we
• 34:03
  talk
• 34:03
  a
• 34:03
  lot
• 34:03
  here
• 34:04
  about
• 34:04
  the
• 34:04
  e
• 34:04
  commerce
• 34:05
  journey
• 34:05
  starts
• 34:05
  with
• 34:06
  having
• 34:06
  the
• 34:06
  right
• 34:06
  assortment
• 34:07
  for
• 34:07
  customers.
• 34:08
  And
• 34:08
  we
• 34:08
  knew
• 34:08
  that
• 34:09
  really,
• 34:09
  in
• 34:09
  order
• 34:09
  to
• 34:10
  fulfill
• 34:11
  that.
• 34:11
  That
• 34:11
  need
• 34:11
  for
• 34:11
  customers
• 34:12
  and
• 34:12
  be
• 34:12
  there
• 34:12
  for
• 34:13
  customers,
• 34:13
  the
• 34:14
  best
• 34:14
  way
• 34:14
  to
• 34:14
  do
• 34:14
  that
• 34:14
  and
• 34:15
  to
• 34:15
  rapidly
• 34:15
  accelerate
• 34:16
  and
• 34:16
  expand
• 34:16
  the
• 34:17
  assortment
• 34:17
  that
• 34:17
  customers
• 34:18
  are
• 34:18
  looking
• 34:19
  for
• 34:19
  these
• 34:19
  days
• 34:19
  was
• 34:20
  to
• 34:20
  do
• 34:20
  so
• 34:20
  via
• 34:20
  a
• 34:21
  marketplace.
• 34:22
  So
• 34:22
  we've
• 34:22
  just
• 34:22
  recently
• 34:23
  launched,
• 34:23
  and
• 34:23
  we're
• 34:24
  really
• 34:24
  excited
• 34:24
  about
• 34:24
  what
• 34:25
  we're
• 34:25
  seeing
• 34:26
  so
• 34:26
  far,
• 34:26
  the
• 34:26
  traction
• 34:27
  from
• 34:27
  customers
• 34:27
  as
• 34:28
  well
• 34:28
  as
• 34:28
  our
• 34:28
  sellers.
• 34:29
  Well,
• 34:30
  Michael,
• 34:30
  you
• 34:31
  mentioned
• 34:31
  endless
• 34:31
  aisle,
• 34:32
  but
• 34:32
  what
• 34:32
  would
• 34:32
  you
• 34:32
  say
• 34:32
  are
• 34:33
  some
• 34:33
  of
• 34:33
  the
• 34:33
  other
• 34:33
  goals
• 34:34
  of
• 34:34
  the
• 34:34
  Lowe's
• 34:35
  Marketplace
• 34:36
  initiative?
• 34:37
  You
• 34:37
  know,
• 34:37
  our
• 34:37
  goal
• 34:37
  at
• 34:37
  Lowe's
• 34:38
  is
• 34:38
  to
• 34:38
  be
• 34:38
  the
• 34:38
  most
• 34:38
  customer
• 34:39
  centric
• 34:39
  omnichannel
• 34:40
  retailer
• 34:41
  out
• 34:41
  there.
• 34:41
  Right.
• 34:41
  And
• 34:42
  so
• 34:42
  when
• 34:42
  you
• 34:42
  look
• 34:43
  into
• 34:43
  the
• 34:43
  home
• 34:43
  space,
• 34:44
  you're
• 34:44
  looking
• 34:44
  at
• 34:45
  total
• 34:45
  home.
• 34:45
  Total
• 34:46
  addressable
• 34:46
  market
• 34:46
  in
• 34:47
  the
• 34:47
  US
• 34:47
  Is
• 34:47
  roughly
• 34:48
  a
• 34:48
  trillion
• 34:48
  dollars,
• 34:49
  and
• 34:49
  it's
• 34:49
  highly
• 34:49
  fragmented.
• 34:50
  So
• 34:50
  you
• 34:50
  think
• 34:50
  about
• 34:51
  all
• 34:51
  of
• 34:51
  the
• 34:51
  opportunity
• 34:52
  that's
• 34:52
  out
• 34:52
  there
• 34:53
  from
• 34:53
  an
• 34:53
  assortment
• 34:54
  perspective.
• 34:54
  Right.
• 34:55
  You
• 34:55
  know,
• 34:55
  our
• 34:56
  goal
• 34:56
  starts
• 34:56
  with
• 34:57
  the
• 34:57
  customer,
• 34:57
  as
• 34:57
  I
• 34:58
  said.
• 34:58
  Right.
• 34:58
  And
• 34:58
  so
• 34:58
  it's
• 34:59
  really
• 34:59
  making
• 34:59
  sure
• 34:59
  that
• 34:59
  we
• 34:59
  continue
• 35:00
  to
• 35:00
  deliver
• 35:00
  on
• 35:01
  a
• 35:01
  frictionless
• 35:01
  customer
• 35:02
  experience.
• 35:02
  You
• 35:02
  know,
• 35:03
  frankly,
• 35:03
  I
• 35:03
  think
• 35:03
  customers
• 35:04
  aren't
• 35:04
  thinking
• 35:04
  in
• 35:04
  the
• 35:05
  lens
• 35:05
  of
• 35:05
  Marketplace.
• 35:06
  Right.
• 35:06
  That's
• 35:06
  for
• 35:06
  us
• 35:06
  to
• 35:06
  talk
• 35:07
  about.
• 35:07
  Right.
• 35:07
  But
• 35:08
  they're
• 35:08
  thinking,
• 35:08
  hey,
• 35:08
  was
• 35:08
  Lowe's
• 35:09
  able
• 35:09
  to
• 35:09
  solve
• 35:09
  my
• 35:09
  problem?
• 35:10
  Did
• 35:10
  they
• 35:10
  have
• 35:10
  the
• 35:11
  item
• 35:11
  that
• 35:11
  I
• 35:11
  was
• 35:11
  looking
• 35:11
  for?
• 35:12
  But
• 35:12
  we
• 35:12
  also
• 35:12
  have
• 35:12
  a
• 35:13
  new
• 35:13
  customer
• 35:13
  here.
• 35:13
  As
• 35:13
  we
• 35:14
  expand
• 35:14
  this
• 35:14
  platform
• 35:15
  in
• 35:15
  this
• 35:15
  marketplace,
• 35:16
  we
• 35:16
  also
• 35:16
  are
• 35:16
  treating
• 35:17
  our
• 35:17
  sellers
• 35:18
  as
• 35:18
  a
• 35:18
  new
• 35:18
  customer
• 35:19
  into
• 35:19
  the
• 35:19
  Lowe's
• 35:20
  ecosystem.
• 35:20
  Right.
• 35:21
  So
• 35:21
  our
• 35:21
  ability
• 35:22
  to
• 35:22
  kind
• 35:22
  of
• 35:22
  connect
• 35:23
  the
• 35:23
  seller
• 35:24
  to
• 35:24
  the
• 35:24
  Lowe's
• 35:25
  customer,
• 35:25
  the
• 35:25
  customer
• 35:26
  who's
• 35:26
  looking
• 35:26
  to
• 35:26
  solve
• 35:26
  a
• 35:27
  problem
• 35:27
  for
• 35:27
  their
• 35:27
  home,
• 35:28
  is
• 35:28
  really
• 35:29
  a
• 35:29
  big
• 35:29
  ambition
• 35:30
  of
• 35:30
  ours,
• 35:30
  and
• 35:31
  we
• 35:31
  think
• 35:31
  we're
• 35:31
  well
• 35:31
  positioned
• 35:32
  to
• 35:32
  deliver
• 35:32
  on
• 35:32
  that.
• 35:33
  So
• 35:33
  our
• 35:33
  goal,
• 35:33
  Ann,
• 35:34
  really,
• 35:34
  is
• 35:34
  just
• 35:34
  to
• 35:34
  continue
• 35:35
  to
• 35:35
  deliver
• 35:35
  that
• 35:35
  frictionless
• 35:36
  experience
• 35:37
  for
• 35:37
  both
• 35:37
  customers
• 35:38
  as
• 35:38
  well
• 35:38
  as
• 35:38
  our
• 35:39
  seller
• 35:39
  partners
• 35:39
  now.
• 35:40
  Interesting,
• 35:41
  interesting.
• 35:41
  So
• 35:42
  this
• 35:42
  experience
• 35:42
  is
• 35:42
  pretty
• 35:43
  unique.
• 35:43
  And
• 35:43
  there's
• 35:43
  one
• 35:43
  aspect
• 35:44
  of
• 35:44
  it
• 35:44
  that
• 35:44
  I
• 35:44
  want
• 35:44
  to
• 35:45
  learn
• 35:45
  more
• 35:45
  about
• 35:45
  too,
• 35:45
  Michael,
• 35:46
  and
• 35:46
  that
• 35:46
  is
• 35:46
  that
• 35:46
  the
• 35:46
  initiative
• 35:47
  extends
• 35:47
  into
• 35:48
  Lowe's
• 35:48
  pro
• 35:49
  business.
• 35:49
  Can
• 35:50
  you
• 35:50
  tell
• 35:50
  us
• 35:50
  more
• 35:50
  about
• 35:50
  that
• 35:51
  and
• 35:51
  how
• 35:51
  that
• 35:51
  works?
• 35:52
  You
• 35:52
  know,
• 35:52
  the
• 35:52
  pro
• 35:53
  customer
• 35:53
  at
• 35:53
  Lowe's,
• 35:54
  this
• 35:54
  has
• 35:54
  been
• 35:54
  a
• 35:54
  growing
• 35:54
  segment
• 35:55
  of
• 35:55
  our
• 35:55
  business.
• 35:55
  You
• 35:56
  know,
• 35:56
  roughly
• 35:56
  Today,
• 35:56
  we're
• 35:57
  around
• 35:57
  30%
• 35:58
  of
• 35:58
  total
• 35:58
  Lowe's
• 35:58
  business
• 35:59
  is
• 35:59
  the
• 35:59
  pro
• 35:59
  customer.
• 36:00
  You
• 36:00
  know,
• 36:00
  who
• 36:01
  is
• 36:01
  that
• 36:01
  customer?
• 36:01
  Right.
• 36:01
  They
• 36:02
  are
• 36:02
  the
• 36:02
  small
• 36:03
  to
• 36:03
  medium
• 36:03
  size
• 36:03
  and
• 36:03
  even
• 36:04
  large
• 36:04
  size.
• 36:04
  Businesses
• 36:05
  that
• 36:05
  are
• 36:05
  working
• 36:05
  on
• 36:06
  projects
• 36:06
  out
• 36:07
  there.
• 36:07
  And
• 36:07
  what's
• 36:08
  exciting
• 36:08
  for
• 36:08
  us
• 36:08
  is,
• 36:09
  again,
• 36:10
  it's
• 36:10
  about
• 36:10
  assortment.
• 36:11
  Right.
• 36:11
  So
• 36:11
  it's
• 36:11
  not
• 36:11
  just
• 36:12
  the
• 36:12
  homeowner,
• 36:12
  the
• 36:12
  do
• 36:12
  it
• 36:13
  for
• 36:13
  me
• 36:13
  or
• 36:13
  do
• 36:14
  it
• 36:14
  yourself
• 36:14
  customer
• 36:15
  that's
• 36:15
  at
• 36:15
  home
• 36:15
  working
• 36:16
  on
• 36:16
  projects,
• 36:16
  but
• 36:17
  it's
• 36:17
  also
• 36:17
  this
• 36:17
  business
• 36:18
  owner
• 36:18
  that
• 36:18
  is
• 36:19
  looking
• 36:19
  for
• 36:19
  assortment,
• 36:20
  and
• 36:20
  we
• 36:21
  want
• 36:21
  to
• 36:21
  be
• 36:21
  able
• 36:21
  to
• 36:21
  satisfy
• 36:22
  that
• 36:22
  customer
• 36:22
  as
• 36:23
  well.
• 36:23
  Right.
• 36:23
  And
• 36:24
  the
• 36:24
  other
• 36:24
  thing
• 36:24
  I
• 36:24
  think
• 36:24
  that's
• 36:25
  really
• 36:25
  exciting
• 36:25
  for
• 36:25
  us
• 36:26
  is
• 36:26
  when
• 36:26
  you
• 36:26
  think
• 36:26
  about,
• 36:27
  you
• 36:27
  know,
• 36:27
  the
• 36:28
  seller
• 36:28
  experience
• 36:28
  and
• 36:29
  how
• 36:29
  we
• 36:29
  can
• 36:29
  continue
• 36:29
  to
• 36:30
  differentiate
• 36:30
  ourselves
• 36:31
  is
• 36:31
  we
• 36:31
  have
• 36:31
  this
• 36:32
  customers
• 36:32
  for
• 36:32
  our
• 36:32
  sellers.
• 36:33
  So
• 36:33
  they're
• 36:33
  going
• 36:33
  to
• 36:33
  shop
• 36:34
  a
• 36:34
  little
• 36:34
  bit
• 36:34
  differently.
• 36:34
  They're
• 36:35
  shopping
• 36:35
  in
• 36:35
  different
• 36:35
  quantities.
• 36:36
  Right.
• 36:36
  If
• 36:37
  they're
• 36:37
  redoing,
• 36:37
  you
• 36:38
  know,
• 36:38
  a
• 36:38
  building
• 36:38
  and
• 36:39
  doing
• 36:39
  bathrooms
• 36:39
  within
• 36:39
  that
• 36:40
  building,
• 36:40
  they're
• 36:41
  going
• 36:41
  to
• 36:41
  look
• 36:41
  for
• 36:41
  a
• 36:41
  vanity
• 36:42
  or
• 36:42
  mirrors.
• 36:43
  They're
• 36:43
  not
• 36:43
  just
• 36:43
  buying
• 36:43
  one.
• 36:44
  They're
• 36:44
  going
• 36:44
  to
• 36:44
  be
• 36:44
  buying
• 36:45
  in
• 36:45
  bulk.
• 36:45
  And
• 36:45
  I
• 36:45
  think
• 36:45
  that's
• 36:46
  a
• 36:46
  pretty
• 36:46
  compelling
• 36:46
  value
• 36:47
  proposition
• 36:47
  for
• 36:48
  the
• 36:48
  seller
• 36:49
  when
• 36:49
  they
• 36:49
  start
• 36:49
  to
• 36:49
  think
• 36:49
  about
• 36:50
  new
• 36:50
  channels
• 36:50
  that
• 36:50
  they.
• 36:50
  That
• 36:51
  they
• 36:51
  can
• 36:51
  launch
• 36:51
  on
• 36:51
  and
• 36:52
  grow
• 36:52
  their
• 36:52
  business
• 36:52
  as
• 36:52
  well
• 36:53
  with.
• 36:53
  I
• 36:54
  love
• 36:54
  this.
• 36:55
  Michael,
• 36:56
  what.
• 36:56
  What
• 36:56
  other
• 36:57
  categories
• 36:57
  do
• 36:58
  you
• 36:58
  think
• 36:58
  that
• 36:58
  you'll
• 36:58
  be
• 36:59
  expanding
• 36:59
  into
• 36:59
  as
• 37:00
  this
• 37:00
  marketplace
• 37:00
  grows?
• 37:01
  We
• 37:01
  think
• 37:02
  about
• 37:02
  marketplace
• 37:03
  really
• 37:03
  as
• 37:03
  fulfilling
• 37:04
  that.
• 37:04
  That
• 37:05
  kind
• 37:05
  of
• 37:05
  torso
• 37:05
  and
• 37:06
  the
• 37:06
  long
• 37:06
  tail.
• 37:06
  Right.
• 37:07
  Where
• 37:07
  there's
• 37:08
  just
• 37:08
  a
• 37:08
  lot
• 37:08
  of
• 37:08
  breadth
• 37:09
  and
• 37:09
  depth
• 37:09
  within
• 37:09
  the
• 37:10
  category
• 37:10
  of
• 37:10
  assortment
• 37:11
  and
• 37:11
  taste
• 37:11
  and
• 37:11
  style.
• 37:12
  Right.
• 37:12
  I
• 37:13
  recently
• 37:13
  just
• 37:13
  moved
• 37:13
  here
• 37:13
  into
• 37:14
  the
• 37:14
  Charlotte
• 37:14
  area,
• 37:14
  and
• 37:15
  as
• 37:15
  we
• 37:15
  think
• 37:15
  about,
• 37:15
  you
• 37:16
  know,
• 37:16
  our
• 37:16
  home
• 37:16
  and
• 37:16
  all
• 37:17
  the
• 37:17
  things
• 37:17
  that
• 37:17
  we
• 37:17
  want
• 37:17
  to
• 37:17
  bring
• 37:17
  into
• 37:18
  it,
• 37:18
  you
• 37:18
  know,
• 37:18
  we're
• 37:18
  finding
• 37:18
  that
• 37:19
  we're
• 37:19
  spending
• 37:19
  a
• 37:19
  lot
• 37:19
  of
• 37:20
  time
• 37:20
  browsing
• 37:20
  online.
• 37:21
  Right.
• 37:21
  So
• 37:22
  you
• 37:22
  think
• 37:22
  about
• 37:22
  home
• 37:23
  decor,
• 37:23
  furniture,
• 37:24
  accents,
• 37:25
  outdoor.
• 37:26
  Right.
• 37:26
  Seasonal
• 37:27
  outdoor
• 37:27
  living,
• 37:28
  but
• 37:28
  even
• 37:28
  getting
• 37:28
  into
• 37:28
  some
• 37:29
  of
• 37:29
  our
• 37:29
  core
• 37:29
  areas
• 37:29
  like
• 37:30
  tools,
• 37:30
  for
• 37:30
  example,
• 37:31
  the
• 37:31
  opportunity,
• 37:32
  even
• 37:32
  with
• 37:32
  brands
• 37:33
  that
• 37:33
  we
• 37:33
  already
• 37:33
  work
• 37:34
  with
• 37:34
  today,
• 37:34
  to
• 37:35
  extend
• 37:35
  their
• 37:35
  range
• 37:36
  in
• 37:36
  the
• 37:36
  endless
• 37:36
  aisle,
• 37:37
  fashion.
• 37:37
  Right.
• 37:37
  Into
• 37:37
  bringing
• 37:38
  all
• 37:38
  of
• 37:38
  what
• 37:38
  they
• 37:39
  offer
• 37:39
  in
• 37:39
  their
• 37:39
  full
• 37:39
  catalog
• 37:40
  onto
• 37:40
  lowe's.com
• 37:41
  will
• 37:41
  really
• 37:42
  help
• 37:42
  our
• 37:43
  customers.
• 37:43
  So,
• 37:44
  you
• 37:44
  know,
• 37:44
  the
• 37:44
  way
• 37:44
  I
• 37:45
  think
• 37:45
  about
• 37:45
  it,
• 37:45
  Chris
• 37:45
  and
• 37:45
  Ann,
• 37:46
  is
• 37:46
  this.
• 37:46
  We're
• 37:47
  not
• 37:47
  trying
• 37:47
  here
• 37:47
  to
• 37:47
  be
• 37:47
  the
• 37:48
  everything
• 37:48
  store,
• 37:48
  but
• 37:49
  we
• 37:49
  do
• 37:49
  think
• 37:49
  we're
• 37:49
  well
• 37:49
  positioned
• 37:50
  to
• 37:50
  be
• 37:50
  the
• 37:50
  everything
• 37:50
  for
• 37:51
  home
• 37:51
  store.
• 37:51
  And
• 37:52
  Marketplace
• 37:52
  is
• 37:52
  going
• 37:52
  to
• 37:52
  really
• 37:53
  help
• 37:53
  us,
• 37:54
  you
• 37:54
  know,
• 37:54
  make
• 37:54
  some
• 37:54
  progress
• 37:55
  on
• 37:55
  that
• 37:55
  front.
• 37:55
  You
• 37:56
  are
• 37:56
  speaking
• 37:56
  my
• 37:56
  home
• 37:56
  furnishings
• 37:57
  digital
• 37:57
  language,
• 37:58
  my
• 37:58
  friend.
• 37:58
  Wow,
• 37:59
  that.
• 37:59
  This
• 37:59
  is
• 37:59
  so
• 37:59
  great.
• 38:00
  All
• 38:00
  right,
• 38:01
  well,
• 38:01
  let's
• 38:01
  get
• 38:01
  you
• 38:01
  out
• 38:01
  of
• 38:01
  here
• 38:01
  on
• 38:01
  this.
• 38:02
  So
• 38:02
  is
• 38:02
  there
• 38:02
  anything
• 38:03
  we
• 38:03
  didn't
• 38:03
  ask
• 38:03
  you
• 38:04
  about
• 38:04
  that
• 38:04
  you're
• 38:05
  excited
• 38:05
  to
• 38:05
  tell
• 38:05
  us?
• 38:06
  What
• 38:06
  I
• 38:06
  would
• 38:06
  just
• 38:06
  leave
• 38:06
  you
• 38:06
  with
• 38:07
  is
• 38:07
  this,
• 38:07
  you
• 38:07
  know,
• 38:07
  a
• 38:08
  couple
• 38:08
  of
• 38:08
  points.
• 38:08
  You
• 38:09
  know,
• 38:09
  we're
• 38:09
  super
• 38:09
  early
• 38:09
  on
• 38:10
  in
• 38:10
  this
• 38:10
  journey.
• 38:10
  Right.
• 38:10
  This
• 38:11
  is
• 38:11
  very
• 38:11
  early
• 38:11
  innings
• 38:12
  for
• 38:12
  us
• 38:12
  with
• 38:12
  Marketplace
• 38:13
  and
• 38:13
  Lowe's.
• 38:13
  But
• 38:14
  what
• 38:14
  I
• 38:14
  can
• 38:15
  tell
• 38:15
  you
• 38:15
  is,
• 38:15
  you
• 38:15
  know,
• 38:15
  the
• 38:16
  opportunity
• 38:16
  is
• 38:16
  massive.
• 38:17
  Right.
• 38:17
  So
• 38:18
  again,
• 38:18
  I
• 38:18
  mentioned
• 38:19
  that
• 38:19
  total
• 38:19
  home
• 38:19
  in
• 38:20
  the
• 38:20
  US
• 38:21
  total
• 38:21
  addressable
• 38:22
  market,
• 38:22
  we're
• 38:22
  looking
• 38:22
  at
• 38:22
  a
• 38:23
  trillion
• 38:23
  dollars.
• 38:23
  You
• 38:24
  know,
• 38:24
  just
• 38:24
  the
• 38:24
  sheer
• 38:24
  breadth
• 38:25
  of
• 38:25
  items
• 38:26
  that
• 38:26
  we're
• 38:26
  able
• 38:26
  to
• 38:26
  sell
• 38:27
  online.
• 38:27
  We're
• 38:28
  super
• 38:28
  motivated
• 38:28
  and
• 38:29
  encouraged
• 38:29
  also
• 38:30
  by
• 38:30
  the
• 38:30
  early
• 38:30
  traction
• 38:31
  that
• 38:31
  we've
• 38:31
  seen
• 38:32
  since
• 38:32
  we've
• 38:32
  launched
• 38:32
  this
• 38:33
  business,
• 38:33
  both
• 38:33
  from
• 38:33
  customers
• 38:34
  as
• 38:34
  well
• 38:34
  as
• 38:35
  interest
• 38:35
  from
• 38:35
  the
• 38:35
  seller
• 38:36
  community
• 38:36
  to
• 38:36
  partner
• 38:37
  with
• 38:37
  us
• 38:37
  and
• 38:37
  be
• 38:37
  able
• 38:38
  to
• 38:38
  expand
• 38:38
  their
• 38:38
  business
• 38:38
  on
• 38:39
  those.
• 38:39
  So
• 38:39
  I
• 38:39
  would
• 38:40
  just
• 38:40
  say,
• 38:40
  you
• 38:40
  know,
• 38:40
  expect
• 38:40
  to
• 38:40
  see
• 38:41
  a
• 38:41
  lot
• 38:41
  more
• 38:41
  from
• 38:41
  us.
• 38:41
  We're
• 38:42
  really
• 38:42
  excited
• 38:42
  about
• 38:43
  this
• 38:43
  and
• 38:43
  encouraged
• 38:44
  by
• 38:44
  what,
• 38:44
  what
• 38:44
  we've
• 38:45
  seen
• 38:45
  and
• 38:45
  delivered
• 38:46
  so
• 38:46
  far.
• 38:46
  Great
• 38:47
  stuff,
• 38:47
  Michael.
• 38:48
  Thank
• 38:48
  you.
• 38:48
  Thanks,
• 38:49
  Michael.
• 38:51
  All
• 38:51
  right,
• 38:51
  headline
• 38:51
  number
• 38:52
  four.
• 38:52
  Albertsons
• 38:52
  is
• 38:53
  launching
• 38:53
  its
• 38:53
  own
• 38:53
  in
• 38:54
  store
• 38:54
  digital
• 38:55
  display
• 38:56
  network.
• 38:56
  According
• 38:56
  to
• 38:57
  chain
• 38:57
  storage,
• 38:57
  the
• 38:58
  grocery
• 38:58
  conglomerates,
• 39:00
  Albertsons
• 39:01
  media
• 39:01
  collective
• 39:02
  retail
• 39:02
  media
• 39:03
  arm.
• 39:03
  Whoa,
• 39:04
  say
• 39:04
  that
• 39:04
  again
• 39:04
  10
• 39:04
  times
• 39:05
  fast.
• 39:05
  Is
• 39:05
  partnering
• 39:06
  with
• 39:06
  shopper
• 39:06
  engagement
• 39:07
  solution
• 39:07
  provider
• 39:08
  Strata
• 39:08
  Cash,
• 39:09
  my
• 39:09
  one
• 39:09
  of
• 39:09
  my
• 39:09
  favorite
• 39:10
  names
• 39:10
  of
• 39:10
  any
• 39:10
  tech
• 39:11
  solutions
• 39:11
  provider
• 39:12
  in
• 39:12
  retail
• 39:12
  to
• 39:13
  deploy
• 39:13
  a
• 39:13
  fleet
• 39:13
  of
• 39:14
  digital
• 39:14
  screens
• 39:14
  that
• 39:14
  will
• 39:15
  support
• 39:15
  in
• 39:15
  store
• 39:16
  advertising
• 39:16
  in
• 39:16
  its
• 39:17
  stores.
• 39:17
  The
• 39:18
  in
• 39:18
  store
• 39:18
  digital
• 39:18
  display
• 39:19
  network
• 39:19
  pilot
• 39:19
  will
• 39:20
  launch
• 39:20
  during
• 39:20
  summer
• 39:21
  2025
• 39:22
  in
• 39:22
  select
• 39:22
  Albertsons
• 39:23
  Company's
• 39:24
  stores
• 39:24
  in
• 39:24
  two
• 39:25
  key
• 39:25
  regions.
• 39:26
  Featuring
• 39:26
  large
• 39:27
  format
• 39:27
  premium
• 39:28
  displays
• 39:28
  in
• 39:29
  high
• 39:29
  traffic
• 39:29
  areas
• 39:30
  at
• 39:30
  selected
• 39:30
  touchpoints
• 39:31
  throughout
• 39:31
  the
• 39:31
  the
• 39:31
  store,
• 39:32
  such
• 39:32
  as
• 39:32
  store
• 39:33
  entry
• 39:33
  and
• 39:34
  the
• 39:34
  produce
• 39:34
  department.
• 39:35
  Albertsons
• 39:36
  expects
• 39:36
  this
• 39:36
  initiative
• 39:37
  will
• 39:37
  enhance
• 39:37
  the
• 39:37
  shopping
• 39:38
  experience
• 39:38
  for
• 39:38
  customers
• 39:39
  while
• 39:39
  also
• 39:39
  providing
• 39:40
  insights
• 39:40
  through
• 39:41
  advanced
• 39:41
  measurement
• 39:41
  capabilities
• 39:42
  for
• 39:42
  brand
• 39:42
  partners,
• 39:43
  allowing
• 39:44
  for
• 39:44
  proof
• 39:44
  of
• 39:44
  play,
• 39:45
  direct
• 39:45
  sales
• 39:45
  attribution
• 39:46
  and
• 39:46
  sales
• 39:47
  lift.
• 39:47
  Bryson,
• 39:49
  given
• 39:50
  your
• 39:50
  steep
• 39:50
  grocery
• 39:51
  background,
• 39:51
  what
• 39:51
  are
• 39:51
  the
• 39:52
  chances
• 39:52
  that
• 39:52
  Albertson
• 39:53
  regrets
• 39:53
  deploying
• 39:54
  these
• 39:54
  digital
• 39:54
  screens?
• 39:55
  Or
• 39:56
  do
• 39:56
  you
• 39:56
  think
• 39:56
  it
• 39:56
  is
• 39:56
  a
• 39:56
  no
• 39:57
  regret
• 39:57
  decision?
• 40:00
  So
• 40:00
  it's
• 40:00
  interesting
• 40:01
  question
• 40:01
  and
• 40:02
  I
• 40:02
  would
• 40:03
  lead
• 40:03
  off
• 40:03
  and
• 40:03
  say
• 40:03
  that,
• 40:03
  you
• 40:03
  know,
• 40:04
  I
• 40:04
  don't
• 40:04
  think
• 40:04
  that
• 40:04
  it's
• 40:04
  a,
• 40:05
  it's
• 40:05
  not
• 40:05
  necessarily
• 40:06
  a
• 40:06
  no
• 40:06
  regret
• 40:06
  decision
• 40:07
  yet.
• 40:07
  Okay.
• 40:07
  Okay.
• 40:08
  Quite
• 40:08
  honestly,
• 40:08
  you
• 40:09
  know,
• 40:09
  being
• 40:09
  able
• 40:09
  to
• 40:10
  disprove
• 40:10
  that,
• 40:10
  you
• 40:10
  know,
• 40:11
  fall
• 40:11
  squarely
• 40:11
  on
• 40:11
  Albertsons
• 40:12
  and
• 40:12
  what
• 40:12
  they're
• 40:12
  able
• 40:13
  to
• 40:13
  do
• 40:13
  here.
• 40:13
  So
• 40:14
  I
• 40:14
  think
• 40:14
  kind
• 40:14
  of
• 40:14
  breaking
• 40:14
  down
• 40:15
  a
• 40:15
  few
• 40:15
  areas.
• 40:15
  Right.
• 40:16
  So
• 40:16
  there's,
• 40:17
  you
• 40:17
  know,
• 40:17
  no
• 40:17
  arguing
• 40:18
  that
• 40:18
  retail
• 40:18
  media
• 40:18
  is
• 40:19
  one
• 40:19
  of
• 40:19
  the
• 40:19
  fastest
• 40:19
  growing
• 40:19
  ad
• 40:20
  segments.
• 40:20
  So
• 40:21
  as
• 40:21
  you
• 40:21
  know,
• 40:21
  retailers
• 40:22
  are
• 40:22
  now
• 40:22
  competing
• 40:23
  for
• 40:23
  more
• 40:23
  share
• 40:23
  of
• 40:24
  that
• 40:24
  spend
• 40:24
  on
• 40:24
  behalf
• 40:25
  of
• 40:25
  their
• 40:25
  brand
• 40:25
  partners.
• 40:26
  You
• 40:26
  know,
• 40:27
  they've
• 40:27
  got
• 40:27
  to
• 40:27
  put
• 40:27
  forward
• 40:27
  the
• 40:27
  compelling
• 40:28
  value
• 40:28
  proposition.
• 40:29
  You
• 40:29
  know,
• 40:29
  historically
• 40:29
  it's
• 40:30
  largely
• 40:30
  been
• 40:30
  in
• 40:30
  the
• 40:30
  online
• 40:31
  platform,
• 40:32
  you
• 40:32
  know,
• 40:33
  driving
• 40:33
  traffic
• 40:34
  to
• 40:34
  branded
• 40:35
  products.
• 40:36
  This
• 40:36
  now,
• 40:37
  you
• 40:37
  know,
• 40:37
  is
• 40:37
  a
• 40:37
  more
• 40:38
  meaningful
• 40:38
  way
• 40:38
  to
• 40:39
  kind
• 40:39
  of
• 40:39
  bridge
• 40:39
  that
• 40:39
  gap
• 40:39
  and
• 40:40
  bring
• 40:40
  the
• 40:40
  digital
• 40:40
  into
• 40:40
  the
• 40:41
  physical.
• 40:41
  But
• 40:42
  with
• 40:42
  that
• 40:42
  being
• 40:42
  said,
• 40:43
  what's
• 40:43
  going
• 40:43
  to
• 40:43
  be
• 40:43
  imperative
• 40:44
  for
• 40:44
  Albertsons
• 40:44
  to
• 40:45
  succeed
• 40:45
  in
• 40:45
  is
• 40:45
  demonstrating
• 40:46
  that
• 40:46
  they're
• 40:46
  in
• 40:47
  lockstep
• 40:48
  with
• 40:48
  the
• 40:48
  brand's
• 40:48
  vision.
• 40:49
  They
• 40:49
  know
• 40:49
  who
• 40:49
  the
• 40:50
  target
• 40:50
  customer
• 40:51
  is
• 40:51
  and
• 40:51
  they're
• 40:51
  able
• 40:52
  to
• 40:52
  put
• 40:52
  forward
• 40:53
  relevant
• 40:53
  and
• 40:53
  meaningful
• 40:54
  content
• 40:54
  that
• 40:54
  truly
• 40:55
  does
• 40:55
  engage
• 40:56
  and
• 40:56
  drive
• 40:57
  that
• 40:57
  point
• 40:57
  of
• 40:57
  sale
• 40:58
  conversion,
• 40:58
  which
• 40:58
  really
• 40:59
  was
• 40:59
  kind
• 40:59
  of
• 40:59
  what
• 40:59
  they're
• 40:59
  pinning
• 41:00
  their
• 41:00
  hopes
• 41:00
  on
• 41:00
  here,
• 41:00
  I
• 41:00
  think
• 41:00
  with
• 41:01
  this
• 41:01
  investment.
• 41:02
  So
• 41:02
  to
• 41:03
  be
• 41:03
  able
• 41:03
  to,
• 41:03
  you
• 41:04
  know,
• 41:04
  craft
• 41:04
  that
• 41:04
  in
• 41:05
  a
• 41:05
  meaningful
• 41:05
  manner,
• 41:06
  I
• 41:06
  think
• 41:06
  is
• 41:06
  one
• 41:06
  of
• 41:06
  the
• 41:06
  biggest
• 41:07
  hurdles
• 41:07
  that's
• 41:07
  going
• 41:07
  to
• 41:07
  have
• 41:07
  to
• 41:08
  be
• 41:08
  unlocked
• 41:08
  here
• 41:08
  because
• 41:09
  you're
• 41:09
  going
• 41:09
  from,
• 41:10
  you
• 41:10
  know,
• 41:10
  online
• 41:10
  where
• 41:11
  you
• 41:11
  can
• 41:11
  be
• 41:11
  very
• 41:11
  niche
• 41:11
  and
• 41:12
  targeted
• 41:12
  to
• 41:13
  now
• 41:13
  in
• 41:13
  the
• 41:13
  physical
• 41:14
  space
• 41:14
  where
• 41:14
  it's
• 41:15
  mass.
• 41:15
  Right.
• 41:15
  And
• 41:16
  you're,
• 41:16
  you
• 41:16
  know,
• 41:16
  casting
• 41:17
  a
• 41:17
  wider
• 41:17
  net
• 41:17
  in
• 41:18
  hopes
• 41:18
  of
• 41:18
  catching,
• 41:18
  you
• 41:18
  know,
• 41:19
  the
• 41:19
  meaningful
• 41:19
  fish.
• 41:20
  But
• 41:20
  the
• 41:21
  ability
• 41:21
  to,
• 41:21
  you
• 41:22
  know,
• 41:22
  frequently
• 41:22
  cycle
• 41:23
  that
• 41:23
  content,
• 41:23
  make
• 41:24
  sure
• 41:24
  it's
• 41:24
  right
• 41:24
  relevant
• 41:25
  in
• 41:25
  engaging
• 41:26
  with
• 41:26
  those
• 41:26
  customers,
• 41:27
  I
• 41:27
  think
• 41:27
  is
• 41:27
  going
• 41:27
  to
• 41:28
  be
• 41:28
  a
• 41:28
  bit
• 41:28
  of
• 41:28
  a
• 41:28
  challenge,
• 41:28
  right?
• 41:29
  In
• 41:29
  putting
• 41:29
  forward
• 41:30
  that
• 41:30
  direct
• 41:30
  meaningful
• 41:30
  and
• 41:31
  then
• 41:31
  tying
• 41:31
  that
• 41:31
  directly
• 41:32
  to
• 41:32
  an
• 41:32
  ROI
• 41:32
  and
• 41:33
  lift
• 41:33
  that
• 41:33
  you
• 41:33
  can
• 41:33
  quantify,
• 41:34
  you
• 41:34
  know,
• 41:35
  intake
• 41:35
  to
• 41:35
  the
• 41:36
  General
• 41:36
  Mills,
• 41:37
  to
• 41:37
  the
• 41:37
  Kellogg's
• 41:37
  of
• 41:37
  the
• 41:38
  worlds
• 41:38
  and
• 41:38
  demonstrate
• 41:38
  that,
• 41:39
  you
• 41:39
  know,
• 41:39
  we
• 41:39
  are
• 41:39
  moving
• 41:39
  the
• 41:39
  needle.
• 41:40
  This
• 41:40
  is
• 41:40
  a
• 41:40
  viable
• 41:40
  investment
• 41:41
  path
• 41:41
  for
• 41:41
  you.
• 41:42
  So
• 41:42
  I
• 41:43
  wouldn't
• 41:43
  say
• 41:43
  that
• 41:43
  it's
• 41:43
  no
• 41:43
  regret.
• 41:44
  I
• 41:44
  think,
• 41:44
  you
• 41:44
  know,
• 41:45
  this
• 41:45
  test
• 41:45
  and
• 41:45
  learn
• 41:45
  approach
• 41:46
  is
• 41:46
  the
• 41:46
  meaningful
• 41:47
  way
• 41:47
  that
• 41:47
  certainly
• 41:47
  I
• 41:48
  would
• 41:48
  engage
• 41:48
  with
• 41:48
  it.
• 41:49
  I
• 41:49
  do
• 41:49
  see
• 41:49
  that
• 41:49
  there's
• 41:50
  upside,
• 41:50
  but
• 41:51
  I
• 41:51
  do
• 41:51
  see
• 41:51
  a
• 41:51
  lot
• 41:52
  of
• 41:52
  operational
• 41:53
  risk
• 41:53
  and
• 41:53
  get
• 41:54
  rights
• 41:54
  that
• 41:54
  are
• 41:55
  critical
• 41:55
  in
• 41:55
  the
• 41:55
  early
• 41:56
  stages
• 41:56
  in
• 41:56
  terms
• 41:56
  of
• 41:56
  upper,
• 41:57
  upper
• 41:57
  funnel
• 41:58
  identification
• 41:58
  and
• 41:59
  being
• 41:59
  able
• 41:59
  to
• 41:59
  translate
• 41:59
  that
• 42:00
  into
• 42:00
  the
• 42:00
  meaningful
• 42:01
  endpoints
• 42:01
  of
• 42:01
  engagement
• 42:01
  with
• 42:02
  the
• 42:02
  customers.
• 42:03
  Right.
• 42:03
  Addition
• 42:03
  to
• 42:03
  the
• 42:04
  capital
• 42:04
  costs
• 42:04
  and
• 42:04
  the
• 42:05
  execution
• 42:05
  of
• 42:05
  this
• 42:05
  in
• 42:06
  this
• 42:06
  at
• 42:06
  the
• 42:06
  store
• 42:06
  level
• 42:07
  too.
• 42:07
  Let
• 42:07
  me
• 42:07
  ask
• 42:07
  you
• 42:07
  a
• 42:08
  follow
• 42:08
  up
• 42:08
  question
• 42:08
  then,
• 42:08
  because
• 42:09
  it
• 42:09
  seems
• 42:09
  like
• 42:10
  the
• 42:10
  grocery
• 42:10
  industry,
• 42:10
  if
• 42:10
  you
• 42:11
  step
• 42:11
  back
• 42:11
  30,000
• 42:11
  foot
• 42:12
  level,
• 42:12
  like
• 42:12
  it
• 42:12
  seems
• 42:13
  like
• 42:13
  the
• 42:13
  grocery
• 42:13
  industry
• 42:13
  in
• 42:13
  total
• 42:14
  is
• 42:14
  moving
• 42:14
  in
• 42:14
  this
• 42:15
  direction.
• 42:16
  Do
• 42:16
  you
• 42:16
  think
• 42:16
  that's.
• 42:17
  And
• 42:17
  in
• 42:17
  fairness
• 42:17
  to
• 42:17
  Albertsons,
• 42:18
  they
• 42:18
  also
• 42:18
  talked
• 42:19
  about
• 42:19
  increasing
• 42:19
  their
• 42:20
  in
• 42:20
  store
• 42:20
  audio
• 42:21
  play
• 42:21
  too.
• 42:22
  Like
• 42:22
  if
• 42:22
  you
• 42:22
  were
• 42:22
  a
• 42:22
  grocery
• 42:23
  executive,
• 42:23
  would
• 42:23
  you
• 42:23
  be
• 42:23
  advising
• 42:24
  them
• 42:24
  to
• 42:24
  go
• 42:24
  and
• 42:25
  invest
• 42:25
  in
• 42:25
  digital
• 42:25
  screens
• 42:26
  to
• 42:27
  the
• 42:27
  degree
• 42:27
  that
• 42:27
  they're
• 42:28
  talking
• 42:28
  about
• 42:28
  it,
• 42:28
  or
• 42:28
  would
• 42:29
  you,
• 42:29
  or
• 42:29
  would
• 42:29
  you
• 42:29
  actually
• 42:29
  advise
• 42:30
  them
• 42:30
  to
• 42:30
  take
• 42:30
  make
• 42:31
  what
• 42:31
  seem
• 42:31
  like
• 42:32
  easier
• 42:32
  to
• 42:32
  execute
• 42:33
  approaches
• 42:33
  via
• 42:33
  like
• 42:34
  things
• 42:34
  like
• 42:34
  in
• 42:34
  store
• 42:35
  audio
• 42:35
  instead?
• 42:36
  How
• 42:36
  do
• 42:36
  you
• 42:36
  think
• 42:36
  about
• 42:36
  that,
• 42:36
  Bryson?
• 42:37
  Yeah,
• 42:38
  I
• 42:38
  think,
• 42:38
  you
• 42:38
  know,
• 42:39
  to
• 42:39
  answer
• 42:39
  that,
• 42:39
  I
• 42:39
  think
• 42:39
  you
• 42:39
  have
• 42:39
  to
• 42:40
  think
• 42:40
  that
• 42:40
  kind
• 42:40
  of
• 42:41
  how
• 42:41
  dynamic
• 42:41
  can
• 42:42
  you
• 42:42
  be
• 42:42
  with
• 42:42
  these
• 42:42
  screens?
• 42:42
  Right.
• 42:43
  And
• 42:43
  what
• 42:43
  can
• 42:43
  you
• 42:43
  do?
• 42:43
  I
• 42:43
  think,
• 42:44
  you
• 42:44
  know,
• 42:44
  just
• 42:44
  comparing
• 42:44
  it
• 42:44
  to
• 42:45
  the
• 42:45
  audio,
• 42:45
  you
• 42:45
  know,
• 42:46
  it's,
• 42:47
  I'm
• 42:47
  probably
• 42:47
  not,
• 42:47
  you
• 42:47
  know,
• 42:47
  a
• 42:48
  sample
• 42:48
  size
• 42:48
  of
• 42:48
  1
• 42:48
  here,
• 42:48
  but
• 42:49
  you
• 42:49
  know,
• 42:49
  my
• 42:49
  objective
• 42:49
  as
• 42:50
  a
• 42:50
  shopper,
• 42:50
  not,
• 42:51
  you
• 42:51
  know,
• 42:51
  somebody
• 42:51
  in
• 42:51
  the
• 42:51
  industry
• 42:52
  as
• 42:52
  a
• 42:52
  shopper
• 42:52
  is
• 42:52
  really
• 42:52
  to
• 42:53
  get
• 42:53
  in
• 42:53
  and
• 42:53
  get
• 42:53
  out
• 42:53
  as
• 42:54
  fast
• 42:54
  as
• 42:54
  I
• 42:54
  can.
• 42:54
  So
• 42:54
  to
• 42:55
  chin
• 42:55
  out
• 42:55
  kind
• 42:55
  of
• 42:55
  that
• 42:56
  ancillary
• 42:57
  noise
• 42:57
  around.
• 42:58
  So,
• 42:58
  you
• 42:58
  know,
• 42:58
  I
• 42:58
  question
• 42:59
  how
• 42:59
  much
• 42:59
  that
• 42:59
  messaging
• 43:00
  is
• 43:00
  really
• 43:00
  resonating
• 43:01
  and
• 43:01
  captured
• 43:01
  with
• 43:01
  the
• 43:01
  customer.
• 43:02
  Coming
• 43:02
  back
• 43:03
  to
• 43:03
  the
• 43:03
  digital
• 43:03
  screens,
• 43:04
  I
• 43:04
  think,
• 43:04
  you
• 43:04
  know,
• 43:04
  it's
• 43:05
  not
• 43:05
  just
• 43:05
  about
• 43:05
  advertising
• 43:06
  and
• 43:07
  awareness.
• 43:07
  I
• 43:08
  think
• 43:08
  one
• 43:08
  of
• 43:08
  the
• 43:08
  unlocks
• 43:09
  in
• 43:09
  the
• 43:09
  article
• 43:09
  they
• 43:09
  were
• 43:10
  focusing
• 43:10
  on
• 43:10
  was
• 43:10
  generating
• 43:11
  new
• 43:11
  ideas.
• 43:12
  Right.
• 43:12
  With
• 43:13
  ingredients,
• 43:13
  recipes,
• 43:14
  solutions.
• 43:15
  So
• 43:15
  if
• 43:16
  they
• 43:16
  can
• 43:16
  convert
• 43:16
  that
• 43:17
  into,
• 43:17
  you
• 43:17
  know,
• 43:17
  true
• 43:17
  value
• 43:18
  add
• 43:18
  for
• 43:18
  the
• 43:18
  customer.
• 43:19
  Not
• 43:19
  just
• 43:19
  a
• 43:19
  point
• 43:19
  of
• 43:19
  display
• 43:20
  in
• 43:20
  the
• 43:20
  sense
• 43:20
  of,
• 43:20
  you
• 43:21
  know,
• 43:21
  here's
• 43:21
  a
• 43:21
  great
• 43:21
  promotion
• 43:22
  on
• 43:22
  product
• 43:22
  X,
• 43:23
  but
• 43:23
  really,
• 43:23
  you
• 43:24
  know,
• 43:24
  here's
• 43:24
  a
• 43:25
  secondary
• 43:25
  use
• 43:25
  for
• 43:26
  a
• 43:26
  product
• 43:26
  that,
• 43:26
  you
• 43:27
  know,
• 43:27
  you
• 43:27
  may
• 43:27
  be
• 43:27
  familiar
• 43:27
  with
• 43:28
  or
• 43:28
  you
• 43:28
  may
• 43:28
  not
• 43:28
  be,
• 43:29
  but
• 43:29
  something
• 43:29
  that
• 43:29
  you
• 43:30
  can
• 43:30
  then
• 43:30
  incorporate
• 43:30
  into
• 43:31
  your,
• 43:31
  you
• 43:32
  know,
• 43:32
  routines
• 43:33
  in
• 43:33
  terms
• 43:33
  of
• 43:33
  recipes
• 43:34
  and
• 43:35
  solutions.
• 43:35
  I
• 43:36
  think
• 43:36
  there
• 43:36
  is
• 43:36
  an
• 43:36
  opportunity
• 43:37
  there
• 43:37
  to,
• 43:37
  you
• 43:37
  know,
• 43:38
  drive
• 43:38
  that
• 43:38
  surprise
• 43:39
  and
• 43:39
  delight
• 43:39
  on
• 43:39
  behalf
• 43:39
  of
• 43:40
  the
• 43:40
  consumer.
• 43:40
  But
• 43:40
  it's
• 43:41
  going
• 43:41
  to
• 43:41
  come
• 43:41
  back
• 43:41
  to
• 43:41
  the
• 43:42
  relevance,
• 43:43
  the,
• 43:43
  you
• 43:43
  know,
• 43:43
  understanding
• 43:44
  of
• 43:44
  what
• 43:44
  the
• 43:45
  consumer
• 43:45
  is
• 43:45
  really
• 43:45
  looking
• 43:46
  for
• 43:46
  and
• 43:46
  then
• 43:46
  translating
• 43:47
  that
• 43:47
  into
• 43:47
  meaningful
• 43:48
  content
• 43:48
  that's
• 43:48
  going
• 43:48
  to
• 43:48
  capture
• 43:49
  their
• 43:49
  eyeballs.
• 43:49
  Right.
• 43:49
  I
• 43:50
  mean,
• 43:50
  just
• 43:50
  think
• 43:50
  about
• 43:50
  the
• 43:51
  visual
• 43:51
  cues.
• 43:51
  Walking
• 43:52
  into
• 43:52
  a
• 43:52
  grocery
• 43:52
  store,
• 43:53
  there's
• 43:53
  so
• 43:53
  much
• 43:53
  stimulus
• 43:54
  around
• 43:54
  you.
• 43:54
  Right.
• 43:54
  Whether
• 43:55
  it's
• 43:55
  the
• 43:55
  point
• 43:55
  of
• 43:55
  sale,
• 43:56
  signage,
• 43:56
  the
• 43:56
  secondary
• 43:57
  displays,
• 43:57
  the
• 43:57
  primary
• 43:58
  displays,
• 43:59
  the
• 43:59
  number
• 43:59
  of
• 44:00
  customers
• 44:00
  shopping
• 44:01
  around
• 44:02
  you.
• 44:02
  So
• 44:02
  to
• 44:02
  be
• 44:03
  able
• 44:03
  to
• 44:03
  compete
• 44:03
  with
• 44:03
  that
• 44:04
  mind
• 44:04
  share,
• 44:04
  it
• 44:04
  really
• 44:05
  is
• 44:05
  going
• 44:05
  to
• 44:05
  speak
• 44:05
  to
• 44:05
  the
• 44:05
  relevance
• 44:06
  as
• 44:07
  well
• 44:07
  as
• 44:07
  the,
• 44:07
  you
• 44:07
  know,
• 44:08
  engaging
• 44:08
  content
• 44:09
  that's
• 44:09
  going
• 44:09
  to
• 44:09
  come
• 44:09
  forward
• 44:09
  on
• 44:09
  the
• 44:10
  screens.
• 44:10
  Yeah.
• 44:11
  Listening
• 44:11
  to
• 44:11
  talk,
• 44:11
  it
• 44:11
  sounds
• 44:12
  like
• 44:12
  there's
• 44:12
  still
• 44:12
  a
• 44:12
  lot
• 44:12
  to
• 44:13
  figure
• 44:13
  out
• 44:13
  to
• 44:13
  make
• 44:13
  this
• 44:14
  execute
• 44:14
  correctly.
• 44:14
  And
• 44:15
  what
• 44:15
  do
• 44:15
  you
• 44:15
  think
• 44:15
  about
• 44:15
  this?
• 44:16
  This?
• 44:16
  Yeah,
• 44:17
  I
• 44:17
  mean
• 44:17
  I,
• 44:17
  I
• 44:17
  called
• 44:18
  out
• 44:18
  what
• 44:18
  you
• 44:19
  mentioned
• 44:19
  earlier.
• 44:19
  Like,
• 44:20
  I
• 44:20
  think
• 44:20
  it's,
• 44:20
  it's
• 44:21
  a
• 44:21
  good
• 44:21
  move
• 44:22
  when
• 44:22
  done
• 44:23
  in
• 44:23
  conjunction
• 44:24
  with
• 44:24
  in
• 44:24
  store
• 44:25
  audio,
• 44:25
  other
• 44:25
  retail
• 44:26
  media
• 44:26
  promotions
• 44:27
  on
• 44:27
  the,
• 44:28
  you
• 44:28
  know,
• 44:28
  on
• 44:29
  an
• 44:29
  app
• 44:29
  in,
• 44:30
  on,
• 44:30
  in
• 44:30
  the
• 44:30
  hands
• 44:31
  of
• 44:31
  your
• 44:31
  consumers.
• 44:32
  So
• 44:33
  that
• 44:33
  if
• 44:33
  there
• 44:33
  surround
• 44:34
  sound
• 44:34
  approach
• 44:34
  kind
• 44:34
  of
• 44:35
  thing.
• 44:35
  Yeah.
• 44:35
  Just
• 44:35
  like
• 44:36
  if
• 44:36
  so
• 44:36
  if
• 44:36
  there
• 44:36
  is
• 44:37
  a
• 44:37
  fail
• 44:37
  point
• 44:37
  with
• 44:37
  the
• 44:38
  screens
• 44:38
  which
• 44:38
  we've
• 44:39
  seen
• 44:39
  happen
• 44:39
  time
• 44:40
  and
• 44:40
  time
• 44:40
  again,
• 44:40
  I
• 44:41
  think
• 44:41
  that
• 44:41
  you,
• 44:41
  you
• 44:42
  have
• 44:42
  other
• 44:42
  things,
• 44:42
  things
• 44:42
  to
• 44:43
  fall
• 44:43
  back
• 44:43
  on.
• 44:44
  But
• 44:44
  I
• 44:44
  guess
• 44:44
  this
• 44:45
  is
• 44:45
  where
• 44:45
  I,
• 44:46
  I
• 44:46
  think
• 44:46
  about
• 44:46
  things
• 44:47
  and
• 44:47
  Companies
• 44:47
  that
• 44:47
  we've
• 44:48
  talked
• 44:48
  to
• 44:48
  recently,
• 44:48
  Chris,
• 44:48
  were
• 44:49
  like
• 44:50
  E
• 44:50
  Ink
• 44:50
  or
• 44:51
  like
• 44:51
  some
• 44:51
  other
• 44:51
  things
• 44:52
  that
• 44:52
  are
• 44:52
  not
• 44:52
  as
• 44:52
  dependent
• 44:53
  on
• 44:53
  like
• 44:54
  a
• 44:54
  digital
• 44:54
  screen
• 44:55
  could
• 44:55
  have
• 44:55
  similar
• 44:56
  impact,
• 44:56
  but
• 44:57
  with
• 44:57
  less
• 44:57
  concern
• 44:58
  about
• 44:58
  having
• 44:59
  a
• 44:59
  fail
• 44:59
  point
• 44:59
  because
• 45:00
  there's
• 45:00
  just
• 45:00
  no
• 45:01
  denying
• 45:01
  it.
• 45:01
  A
• 45:01
  dark
• 45:02
  screen
• 45:02
  is
• 45:02
  bad.
• 45:03
  It's
• 45:03
  a
• 45:03
  bad
• 45:04
  experience
• 45:04
  for
• 45:04
  the
• 45:05
  consumer.
• 45:05
  It's
• 45:06
  great
• 45:06
  when
• 45:06
  they
• 45:06
  work,
• 45:06
  but
• 45:07
  when
• 45:07
  they
• 45:07
  don't
• 45:07
  or
• 45:08
  something
• 45:08
  doesn't
• 45:09
  get
• 45:09
  programmed
• 45:09
  correctly,
• 45:09
  I
• 45:10
  think
• 45:10
  it,
• 45:10
  it
• 45:10
  actually
• 45:11
  has
• 45:11
  a
• 45:11
  more
• 45:12
  impactful
• 45:13
  poor
• 45:14
  experience
• 45:15
  than
• 45:15
  it
• 45:15
  does
• 45:15
  a
• 45:16
  good
• 45:16
  one
• 45:16
  when
• 45:16
  it,
• 45:17
  when
• 45:17
  they're
• 45:17
  working.
• 45:17
  So,
• 45:18
  yeah,
• 45:19
  I
• 45:19
  agree
• 45:19
  with
• 45:19
  you.
• 45:19
  I
• 45:20
  mean,
• 45:20
  I'm
• 45:20
  kind
• 45:20
  of
• 45:20
  like,
• 45:20
  I
• 45:20
  mean,
• 45:21
  you
• 45:21
  always,
• 45:21
  you
• 45:21
  always
• 45:21
  give
• 45:22
  me
• 45:22
  grief
• 45:22
  when
• 45:22
  I
• 45:22
  ask
• 45:22
  you
• 45:23
  to
• 45:23
  put,
• 45:23
  you
• 45:23
  know,
• 45:23
  bets
• 45:23
  on
• 45:23
  things.
• 45:24
  I'm
• 45:24
  like
• 45:24
  50,
• 45:24
  50
• 45:25
  on
• 45:25
  this.
• 45:25
  Like
• 45:25
  that.
• 45:25
  Yeah.
• 45:26
  I
• 45:26
  think,
• 45:26
  you
• 45:26
  know,
• 45:27
  there's
• 45:27
  a,
• 45:27
  there's
• 45:27
  an
• 45:27
  equally
• 45:28
  likely
• 45:28
  chance
• 45:28
  that,
• 45:29
  that
• 45:29
  Albertsons
• 45:29
  could
• 45:29
  be
• 45:30
  looking
• 45:30
  back
• 45:30
  on
• 45:30
  this
• 45:30
  years
• 45:30
  from
• 45:31
  now
• 45:31
  and
• 45:31
  being
• 45:31
  like,
• 45:31
  man,
• 45:31
  we
• 45:31
  just
• 45:32
  went
• 45:32
  too
• 45:32
  fast
• 45:32
  on
• 45:33
  this.
• 45:33
  Or
• 45:33
  we
• 45:33
  thought
• 45:33
  it
• 45:33
  was
• 45:33
  something
• 45:34
  and
• 45:34
  it
• 45:34
  wasn't.
• 45:34
  Because
• 45:35
  to
• 45:35
  your
• 45:35
  point,
• 45:35
  you
• 45:36
  need
• 45:36
  two
• 45:36
  things
• 45:36
  to
• 45:36
  happen
• 45:37
  for
• 45:37
  this
• 45:37
  idea
• 45:38
  to
• 45:38
  ultimately
• 45:38
  work.
• 45:39
  The
• 45:39
  screens
• 45:39
  have
• 45:40
  to
• 45:40
  work
• 45:40
  day
• 45:40
  in
• 45:40
  and
• 45:40
  day
• 45:41
  out,
• 45:41
  which
• 45:41
  is
• 45:41
  no
• 45:41
  mean
• 45:42
  feat.
• 45:42
  And
• 45:42
  you
• 45:42
  have
• 45:42
  to
• 45:42
  get
• 45:43
  them
• 45:43
  repaired
• 45:43
  and
• 45:43
  replaced
• 45:44
  and,
• 45:44
  and
• 45:45
  all
• 45:45
  that
• 45:45
  kind
• 45:45
  of
• 45:45
  thing.
• 45:45
  And
• 45:46
  it's
• 45:46
  just,
• 45:46
  it
• 45:46
  is
• 45:47
  much
• 45:47
  more
• 45:47
  difficult
• 45:47
  than
• 45:47
  people
• 45:48
  realize.
• 45:48
  There's
• 45:49
  also
• 45:49
  the
• 45:49
  electrical
• 45:50
  issues
• 45:50
  that
• 45:50
  have
• 45:50
  to
• 45:50
  come
• 45:51
  in.
• 45:51
  It
• 45:51
  costs
• 45:51
  more
• 45:51
  to
• 45:51
  run
• 45:52
  these
• 45:52
  things.
• 45:52
  So.
• 45:53
  And
• 45:53
  then
• 45:53
  the
• 45:53
  last
• 45:53
  point
• 45:54
  is
• 45:54
  you
• 45:54
  have
• 45:54
  to
• 45:54
  attribute
• 45:55
  the
• 45:55
  sale,
• 45:55
  which
• 45:55
  is
• 45:55
  what
• 45:55
  Bryson
• 45:56
  also
• 45:56
  said,
• 45:56
  because
• 45:57
  otherwise
• 45:57
  you're
• 45:57
  just
• 45:57
  investing
• 45:58
  in
• 45:58
  overwhelmingly
• 45:59
  large
• 46:00
  amount
• 46:00
  of
• 46:00
  capital
• 46:00
  for
• 46:00
  what
• 46:01
  is
• 46:01
  essentially
• 46:01
  just,
• 46:01
  just
• 46:01
  a
• 46:02
  video
• 46:02
  billboard
• 46:02
  in
• 46:03
  your
• 46:03
  store.
• 46:03
  And
• 46:03
  that
• 46:04
  doesn't
• 46:04
  do
• 46:04
  anybody
• 46:05
  any
• 46:05
  good.
• 46:05
  So,
• 46:06
  Brooks,
• 46:06
  what
• 46:06
  do
• 46:06
  you
• 46:06
  think
• 46:07
  here
• 46:07
  though?
• 46:07
  Last
• 46:07
  word?
• 46:08
  A
• 46:08
  last
• 46:09
  word.
• 46:09
  It's
• 46:09
  not
• 46:09
  about
• 46:09
  the
• 46:10
  screens,
• 46:10
  it's
• 46:10
  about
• 46:11
  what's
• 46:11
  going
• 46:11
  to
• 46:11
  be
• 46:11
  on
• 46:11
  the
• 46:12
  screens.
• 46:12
  I
• 46:12
  think
• 46:12
  Bryson
• 46:13
  said
• 46:13
  that
• 46:14
  extremely
• 46:14
  well.
• 46:15
  I
• 46:16
  can't
• 46:16
  think
• 46:16
  of
• 46:16
  a
• 46:17
  sector
• 46:17
  with
• 46:17
  a
• 46:18
  worse
• 46:18
  track
• 46:18
  record
• 46:19
  in,
• 46:19
  quote,
• 46:19
  digital
• 46:20
  advertising
• 46:21
  than
• 46:21
  grocery.
• 46:22
  So
• 46:23
  this
• 46:23
  has
• 46:23
  got
• 46:23
  to
• 46:23
  be
• 46:23
  a
• 46:24
  lot
• 46:24
  better
• 46:24
  than
• 46:24
  just
• 46:25
  the
• 46:25
  12
• 46:25
  page
• 46:26
  circular.
• 46:26
  Cut
• 46:27
  and
• 46:27
  paste
• 46:27
  it
• 46:27
  onto
• 46:28
  a
• 46:28
  screen
• 46:28
  and
• 46:28
  call
• 46:29
  it
• 46:29
  digital
• 46:29
  advertising.
• 46:30
  I
• 46:30
  think
• 46:31
  there's
• 46:31
  an
• 46:31
  opportunity
• 46:32
  here,
• 46:32
  but
• 46:33
  look,
• 46:34
  I
• 46:34
  think
• 46:34
  it
• 46:34
  depends
• 46:35
  on
• 46:35
  what
• 46:36
  actually
• 46:36
  is
• 46:37
  executed
• 46:37
  on
• 46:38
  that
• 46:38
  screen.
• 46:39
  Got
• 46:40
  it.
• 46:40
  So
• 46:40
  net
• 46:40
  net
• 46:41
  a
• 46:41
  lot
• 46:41
  more
• 46:42
  to
• 46:42
  learn
• 46:42
  in
• 46:42
  terms
• 46:42
  of
• 46:43
  how
• 46:43
  to
• 46:43
  make
• 46:43
  this
• 46:44
  work.
• 46:44
  And
• 46:44
  yes,
• 46:45
  your
• 46:45
  flashback
• 46:46
  to
• 46:46
  digital
• 46:46
  circulars.
• 46:47
  Oh,
• 46:47
  man,
• 46:47
  Brooks,
• 46:48
  that's
• 46:48
  like
• 46:48
  frightening.
• 46:49
  That's
• 46:49
  like
• 46:49
  Halloween
• 46:50
  part
• 46:50
  12
• 46:51
  for
• 46:51
  me.
• 46:51
  Part
• 46:52
  13.
• 46:53
  Yeah.
• 46:53
  All
• 46:54
  right,
• 46:54
  let's
• 46:54
  go
• 46:54
  on
• 46:55
  to
• 46:55
  headline
• 46:55
  number
• 46:55
  five.
• 46:56
  Costco
• 46:56
  is
• 46:56
  building
• 46:57
  its,
• 46:57
  its
• 46:57
  first
• 46:58
  standalone
• 46:59
  gas
• 46:59
  station.
• 47:00
  According
• 47:00
  to
• 47:00
  USA
• 47:01
  Today,
• 47:01
  Costco
• 47:01
  plans
• 47:02
  to
• 47:02
  open
• 47:02
  a
• 47:02
  standalone
• 47:03
  gas
• 47:03
  station
• 47:03
  in
• 47:04
  Mission
• 47:04
  Viejo,
• 47:05
  California
• 47:05
  in
• 47:05
  the
• 47:06
  spring
• 47:06
  of
• 47:06
  2026
• 47:07
  in
• 47:07
  a
• 47:07
  bid
• 47:08
  to
• 47:08
  drive
• 47:09
  sales.
• 47:10
  The
• 47:10
  new
• 47:10
  site
• 47:10
  comes
• 47:11
  as
• 47:11
  Costco
• 47:11
  works
• 47:12
  to
• 47:12
  expand
• 47:12
  its
• 47:12
  gas
• 47:12
  station
• 47:13
  offerings
• 47:13
  to
• 47:13
  members
• 47:14
  who
• 47:14
  pay
• 47:14
  $65
• 47:15
  to
• 47:15
  $130
• 47:16
  per
• 47:17
  year
• 47:17
  to
• 47:17
  shop
• 47:17
  at
• 47:18
  the
• 47:18
  warehouse.
• 47:18
  Giant
• 47:19
  cheaper
• 47:20
  gas,
• 47:20
  on
• 47:21
  top
• 47:21
  of
• 47:21
  the
• 47:21
  5%
• 47:22
  rewards
• 47:22
  that
• 47:22
  Costco
• 47:22
  gives
• 47:23
  credit
• 47:23
  card
• 47:23
  holders
• 47:24
  is
• 47:24
  one
• 47:24
  of
• 47:24
  the
• 47:24
  top
• 47:25
  membership
• 47:25
  draws
• 47:26
  for
• 47:26
  Costco.
• 47:26
  And
• 47:27
  standalone
• 47:27
  stations
• 47:27
  could
• 47:28
  help
• 47:28
  alleviate
• 47:28
  traffic
• 47:29
  at
• 47:29
  existing
• 47:30
  warehouses
• 47:30
  which
• 47:31
  often
• 47:31
  face,
• 47:32
  and
• 47:32
  I
• 47:32
  can
• 47:32
  attest
• 47:33
  to
• 47:33
  this,
• 47:33
  snarled
• 47:34
  parking
• 47:34
  lots
• 47:35
  and
• 47:35
  long
• 47:35
  lines
• 47:36
  at
• 47:36
  the
• 47:36
  pump.
• 47:37
  Brooks,
• 47:38
  are
• 47:38
  you
• 47:38
  pro
• 47:39
  or
• 47:39
  con?
• 47:40
  The
• 47:40
  idea
• 47:40
  of
• 47:41
  Costco
• 47:41
  building
• 47:42
  standalone
• 47:43
  gas
• 47:43
  stations
• 47:43
  both
• 47:43
  for
• 47:44
  the
• 47:44
  consumer
• 47:44
  and
• 47:45
  for
• 47:45
  Costco,
• 47:46
  Both
• 47:46
  points
• 47:46
  of
• 47:47
  view,
• 47:47
  please.
• 47:49
  Oh,
• 47:49
  this
• 47:49
  feels
• 47:50
  like
• 47:50
  the
• 47:50
  biggest
• 47:51
  no
• 47:51
  brainer
• 47:51
  today.
• 47:52
  I
• 47:52
  mean
• 47:52
  I'm
• 47:52
  a
• 47:52
  big.
• 47:53
  Really
• 47:53
  Costco?
• 47:54
  Yeah,
• 47:54
  this
• 47:54
  is
• 47:54
  a,
• 47:55
  this
• 47:55
  is
• 47:55
  a
• 47:55
  big
• 47:55
  no
• 47:55
  brainer.
• 47:56
  Greater.
• 47:56
  I
• 47:56
  mean,
• 47:57
  look,
• 47:58
  add
• 47:58
  more
• 47:58
  hours,
• 47:59
  extend
• 47:59
  the
• 48:00
  hours,
• 48:00
  expand
• 48:01
  the
• 48:01
  footprint
• 48:02
  that
• 48:02
  you
• 48:02
  have.
• 48:03
  But
• 48:03
  look,
• 48:03
  I
• 48:03
  think
• 48:04
  the
• 48:04
  next
• 48:04
  step
• 48:04
  here
• 48:04
  has
• 48:05
  to
• 48:05
  be
• 48:05
  standalone
• 48:06
  stations.
• 48:07
  These
• 48:07
  are
• 48:07
  so
• 48:07
  popular.
• 48:08
  To
• 48:08
  me
• 48:08
  it's
• 48:09
  just
• 48:09
  a
• 48:09
  matter
• 48:09
  of
• 48:09
  simple
• 48:10
  economics.
• 48:10
  This
• 48:11
  is
• 48:11
  supply
• 48:11
  and
• 48:11
  demand.
• 48:12
  This
• 48:12
  is
• 48:12
  economics
• 48:13
  101.
• 48:14
  You've
• 48:14
  got
• 48:14
  all
• 48:14
  kinds
• 48:15
  of
• 48:15
  demand
• 48:15
  given
• 48:16
  the
• 48:16
  member
• 48:16
  pricing,
• 48:17
  the
• 48:17
  benefits
• 48:18
  that
• 48:18
  you
• 48:18
  described
• 48:19
  in,
• 48:19
  but
• 48:19
  just
• 48:20
  not
• 48:20
  nearly
• 48:21
  enough
• 48:22
  supply.
• 48:22
  I
• 48:22
  mean
• 48:22
  this
• 48:23
  is,
• 48:23
  I
• 48:23
  can't
• 48:23
  think
• 48:23
  of
• 48:24
  a
• 48:24
  more
• 48:24
  loyal
• 48:25
  customer
• 48:25
  base
• 48:26
  for
• 48:26
  gas
• 48:27
  than
• 48:27
  what
• 48:27
  Costco
• 48:28
  has
• 48:28
  built.
• 48:28
  Love
• 48:29
  the
• 48:29
  idea.
• 48:30
  I
• 48:30
  also
• 48:31
  love
• 48:31
  the
• 48:31
  buck
• 48:31
  50
• 48:32
  hot
• 48:32
  dogs
• 48:32
  too.
• 48:33
  So
• 48:34
  don't
• 48:34
  give
• 48:34
  that
• 48:35
  up.
• 48:35
  We
• 48:36
  might
• 48:36
  have
• 48:36
  a
• 48:36
  lightning
• 48:36
  round
• 48:37
  question
• 48:37
  that
• 48:37
  you're
• 48:37
  going
• 48:37
  to
• 48:38
  have
• 48:38
  to
• 48:38
  answer
• 48:38
  too.
• 48:38
  Brooks.
• 48:39
  Bryson.
• 48:40
  Bryson,
• 48:41
  what
• 48:41
  about
• 48:41
  you?
• 48:43
  No,
• 48:43
  so
• 48:43
  I
• 48:43
  agree.
• 48:44
  I
• 48:44
  think
• 48:44
  this
• 48:44
  really
• 48:45
  does
• 48:45
  fall
• 48:45
  into
• 48:45
  no
• 48:45
  regret
• 48:46
  and
• 48:46
  I
• 48:46
  think
• 48:47
  it
• 48:47
  is
• 48:47
  a
• 48:47
  smart
• 48:47
  play.
• 48:48
  I
• 48:48
  think
• 48:48
  the
• 48:48
  one
• 48:48
  element
• 48:49
  that
• 48:49
  I
• 48:49
  would
• 48:49
  add
• 48:49
  to
• 48:49
  it,
• 48:49
  and
• 48:49
  I
• 48:50
  think
• 48:50
  there's
• 48:50
  two
• 48:50
  kind
• 48:50
  of
• 48:50
  points
• 48:51
  of
• 48:51
  consideration
• 48:51
  here
• 48:52
  is
• 48:52
  one
• 48:53
  kind
• 48:53
  of
• 48:53
  the
• 48:53
  role
• 48:53
  of
• 48:54
  the,
• 48:54
  the
• 48:54
  fuel
• 48:55
  centers.
• 48:55
  Right.
• 48:55
  I
• 48:56
  think
• 48:56
  it
• 48:56
  is
• 48:56
  one
• 48:56
  that
• 48:56
  does
• 48:57
  drive
• 48:57
  traffic
• 48:58
  into
• 48:58
  the
• 48:58
  warehouse.
• 48:59
  So
• 48:59
  you
• 48:59
  know,
• 48:59
  they're
• 48:59
  going
• 48:59
  to
• 48:59
  have
• 49:00
  to
• 49:00
  compete
• 49:00
  with
• 49:00
  that
• 49:00
  in
• 49:00
  the
• 49:01
  sense
• 49:01
  of
• 49:01
  knowing
• 49:01
  that,
• 49:01
  you
• 49:01
  know,
• 49:02
  customers
• 49:02
  in
• 49:02
  this
• 49:02
  aspect
• 49:03
  are
• 49:03
  just
• 49:03
  coming
• 49:03
  in
• 49:03
  for
• 49:03
  the
• 49:03
  fuel.
• 49:04
  We're
• 49:04
  not
• 49:04
  going
• 49:04
  to
• 49:04
  get
• 49:04
  the
• 49:04
  added
• 49:05
  benefit
• 49:05
  of
• 49:05
  the
• 49:05
  high
• 49:05
  margin
• 49:06
  basket
• 49:06
  items
• 49:07
  as
• 49:07
  they're
• 49:07
  going
• 49:07
  through
• 49:08
  at
• 49:08
  the
• 49:08
  warehouse.
• 49:08
  But
• 49:09
  conversely,
• 49:09
  I
• 49:09
  think
• 49:09
  too,
• 49:10
  you
• 49:10
  know,
• 49:10
  understanding
• 49:10
  the
• 49:11
  dynamics
• 49:11
  of
• 49:11
  the
• 49:11
  Costco
• 49:12
  shopper,
• 49:12
  they
• 49:12
  really
• 49:12
  engage
• 49:13
  with
• 49:13
  the
• 49:13
  warehouses
• 49:14
  1.6
• 49:15
  to
• 49:15
  2
• 49:15
  times
• 49:16
  in
• 49:16
  a
• 49:16
  given
• 49:16
  month.
• 49:17
  So
• 49:17
  this
• 49:17
  now
• 49:18
  presents
• 49:18
  an
• 49:18
  opportunity
• 49:19
  to
• 49:19
  increase
• 49:19
  that
• 49:20
  traffic
• 49:20
  and
• 49:20
  engagement
• 49:21
  with
• 49:21
  the
• 49:21
  customers,
• 49:22
  improving
• 49:22
  and
• 49:23
  enhancing
• 49:23
  Costco's,
• 49:24
  you
• 49:24
  know,
• 49:24
  top
• 49:24
  of
• 49:24
  mind
• 49:25
  mentality
• 49:26
  with
• 49:26
  those
• 49:26
  consumers.
• 49:27
  So
• 49:27
  the
• 49:27
  frequency
• 49:27
  of
• 49:27
  engagement
• 49:28
  with
• 49:28
  the
• 49:28
  customer
• 49:28
  I
• 49:29
  think
• 49:29
  is
• 49:29
  also
• 49:29
  an
• 49:29
  incremental
• 49:30
  benefit
• 49:30
  that's
• 49:30
  going
• 49:30
  to
• 49:30
  be
• 49:31
  important
• 49:31
  for
• 49:31
  the
• 49:31
  members.
• 49:32
  Absolutely.
• 49:33
  Bryson.
• 49:33
  I
• 49:33
  mean
• 49:33
  you
• 49:33
  think
• 49:33
  about
• 49:34
  just
• 49:34
  how
• 49:34
  many
• 49:34
  more
• 49:35
  people
• 49:35
  are
• 49:35
  more
• 49:35
  inclined
• 49:36
  to
• 49:36
  get
• 49:36
  a
• 49:36
  membership
• 49:37
  when
• 49:37
  gas,
• 49:37
  you
• 49:38
  know,
• 49:38
  which
• 49:38
  is
• 49:38
  for,
• 49:39
  for
• 49:39
  most
• 49:39
  people
• 49:39
  is
• 49:40
  even
• 49:40
  a
• 49:40
  weekly
• 49:41
  type
• 49:41
  thing
• 49:41
  that
• 49:41
  they
• 49:42
  need
• 49:42
  to
• 49:42
  do
• 49:42
  to
• 49:42
  be
• 49:43
  able
• 49:43
  to
• 49:43
  get
• 49:43
  these
• 49:43
  savings
• 49:44
  and
• 49:44
  then
• 49:45
  to
• 49:45
  have
• 49:45
  that
• 49:45
  in
• 49:46
  addition
• 49:46
  to,
• 49:46
  you
• 49:47
  know,
• 49:47
  their,
• 49:47
  their
• 49:47
  Costco
• 49:48
  club
• 49:48
  experience.
• 49:49
  I
• 49:49
  think
• 49:49
  especially
• 49:49
  when
• 49:50
  you
• 49:50
  look
• 49:50
  at
• 49:50
  Sam's
• 49:50
  Club
• 49:51
  and
• 49:51
  Walmart
• 49:51
  who
• 49:52
  are
• 49:52
  also
• 49:52
  making
• 49:52
  a
• 49:52
  play
• 49:53
  and
• 49:53
  feel
• 49:53
  here
• 49:53
  too
• 49:54
  and
• 49:54
  they're
• 49:54
  going
• 49:54
  to
• 49:54
  start
• 49:54
  having
• 49:55
  their
• 49:55
  more
• 49:55
  of
• 49:56
  independent
• 49:56
  stations.
• 49:57
  You
• 49:57
  have
• 49:57
  to
• 49:58
  as
• 49:58
  Costco
• 49:58
  I
• 49:59
  think
• 49:59
  be
• 49:59
  be
• 50:00
  going
• 50:00
  up
• 50:00
  against
• 50:01
  them
• 50:01
  and
• 50:01
  being
• 50:02
  prepared
• 50:02
  especially
• 50:02
  with
• 50:03
  a
• 50:03
  fuel
• 50:03
  strategy.
• 50:04
  But
• 50:04
  Chris,
• 50:04
  close
• 50:04
  us
• 50:05
  out.
• 50:05
  What
• 50:05
  are
• 50:05
  your
• 50:05
  thoughts
• 50:06
  here?
• 50:06
  Yeah,
• 50:06
  I
• 50:07
  mean
• 50:07
  my
• 50:07
  thought
• 50:07
  I
• 50:07
  100
• 50:08
  agree
• 50:08
  with
• 50:08
  everyone.
• 50:08
  I
• 50:08
  think
• 50:08
  my
• 50:09
  thoughts
• 50:09
  are
• 50:09
  I
• 50:09
  wish
• 50:09
  I
• 50:09
  had
• 50:09
  Costco's
• 50:10
  problems,
• 50:10
  you
• 50:10
  know,
• 50:11
  at
• 50:11
  the
• 50:11
  end
• 50:11
  of
• 50:11
  the
• 50:11
  day
• 50:11
  like
• 50:12
  because
• 50:12
  I
• 50:12
  think
• 50:12
  when
• 50:12
  you
• 50:13
  layer
• 50:13
  this
• 50:13
  in,
• 50:13
  like
• 50:13
  Brooks
• 50:14
  said,
• 50:14
  with
• 50:14
  also
• 50:14
  the
• 50:15
  extending
• 50:15
  hours
• 50:16
  for,
• 50:17
  for
• 50:17
  their,
• 50:17
  you
• 50:17
  know,
• 50:17
  their
• 50:18
  most
• 50:18
  exact
• 50:18
  for
• 50:18
  their
• 50:19
  executive
• 50:19
  members.
• 50:19
  I
• 50:19
  mean.
• 50:20
  Yeah,
• 50:20
  this
• 50:20
  is
• 50:20
  also,
• 50:21
  this
• 50:21
  is
• 50:21
  also
• 50:21
  an
• 50:21
  operational,
• 50:22
  you
• 50:23
  know,
• 50:23
  idea.
• 50:23
  You
• 50:24
  know,
• 50:24
  it
• 50:24
  goes
• 50:24
  back
• 50:24
  to
• 50:24
  my
• 50:25
  first
• 50:25
  year
• 50:25
  at
• 50:25
  business
• 50:25
  school
• 50:26
  with
• 50:26
  the
• 50:26
  technology
• 50:27
  and
• 50:27
  operations
• 50:27
  management
• 50:28
  class.
• 50:28
  You
• 50:28
  want
• 50:28
  to
• 50:29
  smooth
• 50:29
  out
• 50:29
  your
• 50:29
  traffic
• 50:30
  flow
• 50:30
  and
• 50:30
  so
• 50:31
  that's
• 50:31
  why
• 50:31
  we're
• 50:31
  doing
• 50:31
  this.
• 50:32
  This
• 50:32
  isn't
• 50:32
  the
• 50:32
  standard
• 50:33
  playbook
• 50:33
  from
• 50:33
  a
• 50:33
  retailer
• 50:34
  to
• 50:34
  build
• 50:34
  a
• 50:35
  standalone
• 50:35
  site
• 50:35
  that
• 50:36
  keeps
• 50:36
  people
• 50:36
  out
• 50:36
  of
• 50:36
  the
• 50:37
  store.
• 50:37
  But
• 50:37
  what
• 50:38
  it
• 50:38
  does
• 50:38
  is
• 50:38
  it
• 50:38
  gets
• 50:38
  back
• 50:39
  to
• 50:39
  the
• 50:39
  subscription
• 50:39
  of
• 50:40
  why
• 50:40
  do
• 50:40
  people
• 50:40
  want
• 50:40
  to
• 50:41
  come
• 50:41
  to
• 50:41
  Costco
• 50:41
  and
• 50:42
  and
• 50:42
  the
• 50:42
  one
• 50:42
  thing
• 50:42
  they
• 50:43
  want
• 50:43
  is
• 50:43
  gas
• 50:44
  discounts.
• 50:44
  But
• 50:45
  the
• 50:45
  one
• 50:45
  thing
• 50:45
  they
• 50:45
  also
• 50:45
  don't
• 50:46
  want
• 50:46
  that
• 50:46
  they
• 50:47
  don't
• 50:47
  want,
• 50:47
  which
• 50:47
  is
• 50:47
  a
• 50:48
  reason
• 50:48
  not
• 50:48
  to
• 50:48
  buy
• 50:49
  the
• 50:49
  Costco
• 50:49
  membership
• 50:50
  is
• 50:50
  when
• 50:51
  they
• 50:51
  not
• 50:51
  being
• 50:51
  able
• 50:52
  to
• 50:52
  find
• 50:52
  a
• 50:52
  parking
• 50:53
  space
• 50:53
  when
• 50:53
  you
• 50:53
  go
• 50:54
  there
• 50:54
  and
• 50:54
  being
• 50:54
  just
• 50:55
  burdened
• 50:55
  by
• 50:56
  how,
• 50:56
  how
• 50:56
  much,
• 50:56
  how
• 50:57
  many
• 50:57
  people
• 50:57
  are
• 50:57
  there.
• 50:58
  So,
• 50:58
  so
• 50:58
  yeah,
• 50:58
  I
• 50:58
  think
• 50:59
  net
• 50:59
  net.
• 50:59
  It's
• 50:59
  a
• 50:59
  great
• 50:59
  idea.
• 51:00
  All
• 51:01
  right
• 51:01
  you
• 51:01
  guys,
• 51:01
  let's
• 51:01
  go
• 51:01
  to
• 51:02
  the
• 51:02
  lightning
• 51:02
  round.
• 51:02
  We're
• 51:02
  going
• 51:02
  to
• 51:02
  continue
• 51:03
  a
• 51:03
  Costco
• 51:03
  conversation.
• 51:04
  Bryson,
• 51:05
  this
• 51:05
  first
• 51:05
  one's
• 51:05
  going
• 51:06
  to
• 51:06
  you
• 51:06
  but
• 51:06
  Brooks
• 51:07
  will
• 51:07
  let
• 51:07
  you
• 51:07
  answer
• 51:07
  it
• 51:07
  too
• 51:08
  because
• 51:08
  of
• 51:08
  your
• 51:09
  love
• 51:09
  of
• 51:09
  Costco,
• 51:10
  the
• 51:10
  hot
• 51:10
  dogs
• 51:10
  and
• 51:11
  all
• 51:11
  of
• 51:11
  the
• 51:11
  above.
• 51:12
  Bryson,
• 51:13
  Costco
• 51:14
  is
• 51:14
  in
• 51:14
  the
• 51:14
  news
• 51:14
  a
• 51:15
  lot
• 51:15
  this
• 51:15
  week.
• 51:16
  What's
• 51:16
  your
• 51:16
  favorite
• 51:16
  Costco
• 51:17
  product
• 51:17
  and
• 51:17
  is
• 51:18
  it
• 51:18
  worth
• 51:18
  worth
• 51:18
  getting
• 51:19
  inside
• 51:19
  Costco
• 51:20
  an
• 51:20
  extra
• 51:20
  hour
• 51:20
  early
• 51:21
  to
• 51:21
  procure
• 51:21
  it?
• 51:22
  Yeah,
• 51:22
  no,
• 51:23
  absolutely.
• 51:23
  Great
• 51:23
  question.
• 51:23
  So.
• 51:24
  And
• 51:24
  an
• 51:24
  exciting
• 51:24
  one
• 51:25
  too.
• 51:25
  So
• 51:25
  you
• 51:25
  know,
• 51:25
  first
• 51:25
  off,
• 51:26
  caveat
• 51:26
  that
• 51:26
  with.
• 51:26
  I
• 51:26
  have
• 51:27
  four
• 51:27
  children
• 51:27
  under
• 51:27
  the
• 51:28
  age
• 51:28
  of
• 51:28
  14,
• 51:28
  so
• 51:28
  I
• 51:29
  am
• 51:29
  in
• 51:29
  Costco
• 51:29
  a
• 51:30
  lot.
• 51:30
  Right.
• 51:31
  Quite
• 51:32
  a
• 51:32
  bit.
• 51:33
  If
• 51:33
  I
• 51:33
  had
• 51:33
  to
• 51:33
  break
• 51:33
  it
• 51:33
  down,
• 51:33
  though,
• 51:34
  what's
• 51:34
  my
• 51:34
  absolute
• 51:34
  favorite
• 51:35
  item
• 51:35
  to
• 51:35
  buy
• 51:35
  there?
• 51:36
  You
• 51:36
  know,
• 51:36
  I
• 51:36
  really
• 51:37
  go
• 51:37
  for
• 51:37
  the
• 51:38
  brisket.
• 51:38
  I've
• 51:39
  really,
• 51:39
  you
• 51:39
  know,
• 51:39
  kind
• 51:39
  of
• 51:39
  got
• 51:39
  into
• 51:41
  smoking
• 51:41
  meats
• 51:42
  over
• 51:42
  the
• 51:42
  past
• 51:43
  number
• 51:43
  of
• 51:43
  years
• 51:43
  and
• 51:44
  really
• 51:44
  trying
• 51:44
  to
• 51:44
  hone
• 51:45
  that
• 51:45
  as
• 51:45
  a
• 51:45
  skill.
• 51:45
  You
• 51:45
  know,
• 51:46
  love
• 51:46
  all
• 51:46
  things
• 51:46
  Texas
• 51:47
  when
• 51:47
  it
• 51:47
  comes
• 51:47
  to
• 51:47
  barbecue.
• 51:48
  And
• 51:48
  in
• 51:48
  trying
• 51:49
  to
• 51:49
  emulate
• 51:49
  that
• 51:49
  as
• 51:49
  best
• 51:50
  I
• 51:50
  can
• 51:50
  in
• 51:50
  Arizona,
• 51:51
  albeit,
• 51:51
  you
• 51:52
  know,
• 51:52
  it's
• 51:52
  still
• 51:52
  a
• 51:52
  struggle
• 51:52
  and
• 51:53
  still
• 51:53
  learning,
• 51:54
  but
• 51:54
  that
• 51:54
  is
• 51:54
  probably,
• 51:55
  you
• 51:55
  know,
• 51:55
  my
• 51:55
  favorite
• 51:55
  item
• 51:56
  when
• 51:56
  I
• 51:56
  go
• 51:56
  shop
• 51:57
  there
• 51:57
  amongst,
• 51:57
  you
• 51:57
  know,
• 51:57
  a
• 51:58
  multitude
• 51:58
  of
• 51:58
  others.
• 52:00
  The
• 52:00
  shift
• 52:01
  to
• 52:01
  offering,
• 52:01
  you
• 52:01
  know,
• 52:02
  one
• 52:02
  hour
• 52:02
  earlier
• 52:02
  shopping
• 52:03
  convenience,
• 52:03
  you
• 52:04
  know,
• 52:04
  for
• 52:04
  the.
• 52:06
  The
• 52:07
  business
• 52:07
  members,
• 52:07
  you
• 52:08
  know,
• 52:08
  is
• 52:08
  that
• 52:08
  a
• 52:08
  value
• 52:08
  proposition
• 52:09
  that
• 52:09
  I
• 52:09
  would
• 52:09
  go
• 52:09
  in
• 52:09
  to
• 52:09
  buy
• 52:10
  that
• 52:10
  product
• 52:10
  early
• 52:10
  enough?
• 52:10
  No.
• 52:11
  But,
• 52:11
  you
• 52:11
  know,
• 52:11
  it
• 52:11
  is
• 52:12
  compelling
• 52:12
  enough
• 52:12
  for
• 52:12
  me
• 52:12
  to
• 52:13
  avoid
• 52:13
  the
• 52:13
  congestion
• 52:14
  in
• 52:14
  the
• 52:14
  lines.
• 52:14
  You
• 52:15
  know,
• 52:15
  given
• 52:15
  the,
• 52:15
  you
• 52:16
  know,
• 52:16
  affinity
• 52:16
  I
• 52:16
  have
• 52:16
  for
• 52:16
  Costco
• 52:17
  and
• 52:17
  the
• 52:17
  frequency
• 52:17
  I'm
• 52:18
  there.
• 52:18
  I
• 52:18
  kind
• 52:18
  of
• 52:18
  have
• 52:19
  an
• 52:19
  endearing
• 52:19
  term
• 52:19
  for
• 52:19
  Costco.
• 52:20
  I
• 52:20
  call
• 52:20
  it
• 52:20
  Zombieland.
• 52:21
  You
• 52:21
  get
• 52:21
  in
• 52:22
  there
• 52:22
  in
• 52:22
  the
• 52:22
  high
• 52:22
  peak
• 52:22
  areas,
• 52:23
  you
• 52:23
  got
• 52:23
  everybody
• 52:23
  just
• 52:23
  meandering
• 52:24
  around
• 52:24
  with
• 52:24
  their
• 52:24
  cards,
• 52:25
  trying
• 52:25
  all
• 52:25
  the
• 52:25
  samples.
• 52:26
  You
• 52:26
  know,
• 52:27
  if
• 52:27
  you
• 52:27
  just
• 52:27
  want
• 52:27
  to
• 52:27
  get
• 52:27
  in
• 52:27
  and
• 52:27
  get
• 52:28
  out,
• 52:28
  becomes
• 52:28
  a
• 52:28
  bit
• 52:28
  of
• 52:28
  a
• 52:28
  challenge.
• 52:29
  So,
• 52:29
  yeah,
• 52:29
  the
• 52:30
  ability
• 52:30
  to
• 52:30
  kind
• 52:30
  of
• 52:30
  avoid
• 52:31
  that
• 52:31
  congestion
• 52:31
  would
• 52:31
  be
• 52:32
  compelling
• 52:32
  enough
• 52:32
  for
• 52:32
  me.
• 52:33
  All
• 52:33
  right,
• 52:34
  Brooks,
• 52:35
  are
• 52:35
  you.
• 52:35
  Is
• 52:36
  the
• 52:36
  hot
• 52:36
  dog
• 52:36
  your
• 52:36
  favorite
• 52:37
  product,
• 52:37
  or
• 52:37
  do
• 52:37
  you
• 52:37
  have
• 52:37
  another
• 52:38
  product
• 52:38
  that
• 52:38
  you'd
• 52:38
  buy?
• 52:39
  Hey,
• 52:39
  my
• 52:40
  family
• 52:40
  still
• 52:40
  goes
• 52:41
  to
• 52:41
  Costco
• 52:41
  just
• 52:42
  for
• 52:42
  lunch.
• 52:43
  We
• 52:43
  don't
• 52:44
  even
• 52:44
  go
• 52:44
  back.
• 52:45
  Well,
• 52:45
  maybe
• 52:46
  lunch.
• 52:46
  And
• 52:46
  the
• 52:47
  produce.
• 52:48
  Well,
• 52:48
  maybe
• 52:48
  lunch,
• 52:49
  produce
• 52:49
  and
• 52:49
  the
• 52:50
  gas.
• 52:50
  Those
• 52:51
  three
• 52:51
  things.
• 52:52
  Nice,
• 52:53
  Nice.
• 52:54
  You
• 52:54
  know,
• 52:54
  the
• 52:54
  interesting
• 52:54
  subtle
• 52:55
  theme
• 52:55
  of
• 52:55
  this,
• 52:55
  too,
• 52:56
  is,
• 52:56
  you
• 52:56
  know,
• 52:56
  makes
• 52:56
  me
• 52:56
  wonder
• 52:57
  if
• 52:57
  Costco's
• 52:57
  getting
• 52:58
  severe
• 52:59
  customer
• 53:00
  survey
• 53:00
  feedback
• 53:01
  or
• 53:01
  data
• 53:01
  that
• 53:01
  the
• 53:02
  parking
• 53:02
  lots
• 53:02
  are
• 53:02
  too
• 53:02
  congested,
• 53:03
  you
• 53:03
  know,
• 53:03
  and
• 53:04
  it's.
• 53:04
  It's
• 53:04
  hampering
• 53:04
  them.
• 53:05
  It's.
• 53:05
  It's.
• 53:05
  It's
• 53:06
  potentially
• 53:06
  a
• 53:06
  real
• 53:06
  tell
• 53:06
  here.
• 53:07
  All
• 53:07
  right,
• 53:07
  question
• 53:08
  two
• 53:08
  to
• 53:08
  Bryson.
• 53:09
  GM
• 53:10
  unveiled
• 53:10
  the
• 53:10
  quickest
• 53:11
  Corvette
• 53:12
  ever
• 53:12
  with
• 53:13
  its
• 53:13
  ZR1X
• 53:14
  hypercar,
• 53:15
  which
• 53:16
  goes
• 53:16
  from
• 53:16
  zero
• 53:16
  to
• 53:17
  60
• 53:17
  miles
• 53:17
  per
• 53:18
  hour
• 53:18
  in
• 53:18
  less
• 53:18
  than
• 53:19
  two
• 53:19
  seconds.
• 53:20
  Earlier
• 53:20
  this
• 53:20
  week.
• 53:21
  Where
• 53:21
  does
• 53:22
  the
• 53:22
  Corvette
• 53:22
  rank
• 53:23
  for
• 53:23
  you
• 53:23
  in
• 53:23
  the
• 53:24
  pantheon
• 53:24
  of
• 53:25
  great
• 53:25
  automobiles?
• 53:27
  So,
• 53:27
  Brooks,
• 53:27
  I
• 53:27
  think
• 53:27
  you
• 53:28
  were
• 53:28
  the
• 53:28
  one
• 53:28
  passionate
• 53:28
  about
• 53:29
  this,
• 53:29
  actually,
• 53:29
  given
• 53:29
  your
• 53:29
  affinity
• 53:30
  for
• 53:30
  automobiles.
• 53:31
  So
• 53:31
  I'll
• 53:31
  let
• 53:31
  you
• 53:32
  take
• 53:32
  that
• 53:32
  one.
• 53:33
  Hey,
• 53:33
  for
• 53:34
  me,
• 53:34
  Nothing
• 53:34
  beats
• 53:35
  the
• 53:35
  1982
• 53:36
  Pontiac
• 53:36
  Firebird
• 53:37
  Trans
• 53:37
  Am
• 53:38
  from
• 53:38
  Knight
• 53:39
  Rider.
• 53:39
  Does
• 53:39
  anybody
• 53:40
  remember
• 53:40
  that?
• 53:41
  Of
• 53:41
  course.
• 53:42
  Of
• 53:42
  course.
• 53:44
  Or
• 53:44
  maybe
• 53:44
  even
• 53:45
  my
• 53:45
  first
• 53:45
  car
• 53:45
  which
• 53:46
  was
• 53:46
  a
• 53:46
  1978
• 53:47
  baby
• 53:48
  blue
• 53:48
  Ford
• 53:48
  Fairmont
• 53:49
  station
• 53:49
  wagon.
• 53:50
  Oh
• 53:51
  my
• 53:51
  God.
• 53:51
  That
• 53:52
  had
• 53:52
  a
• 53:52
  aftermarket
• 53:53
  JVC
• 53:54
  cassette
• 53:55
  deck.
• 53:56
  Oh
• 53:56
  my
• 53:56
  gosh.
• 53:57
  Oh
• 53:57
  my
• 53:57
  God.
• 53:57
  I
• 53:57
  think
• 53:58
  I'd
• 53:58
  skip
• 53:58
  that
• 53:58
  one,
• 53:58
  but
• 53:58
  I
• 53:59
  take
• 53:59
  the
• 53:59
  Corvette
• 53:59
  Stingray
• 54:00
  every
• 54:00
  day
• 54:00
  of
• 54:01
  the
• 54:01
  week
• 54:01
  and
• 54:01
  twice
• 54:01
  on
• 54:01
  Sundays.
• 54:02
  Go
• 54:02
  ahead,
• 54:03
  Bryson.
• 54:03
  So.
• 54:04
  So
• 54:04
  Brooks,
• 54:04
  fun
• 54:05
  fact
• 54:05
  that
• 54:05
  I
• 54:05
  don't
• 54:05
  think
• 54:05
  we've
• 54:05
  talked
• 54:06
  about,
• 54:06
  but
• 54:06
  you
• 54:06
  know,
• 54:07
  my
• 54:07
  cousin's
• 54:07
  husband
• 54:07
  was
• 54:07
  involved
• 54:08
  with
• 54:08
  the
• 54:08
  reboot
• 54:08
  of
• 54:09
  Knight
• 54:09
  Rider
• 54:09
  in
• 54:10
  lead
• 54:10
  and
• 54:10
  they
• 54:10
  shift
• 54:10
  the
• 54:11
  Ford,
• 54:11
  the.
• 54:12
  The
• 54:12
  Mustang
• 54:12
  in
• 54:13
  that
• 54:13
  regards.
• 54:13
  What
• 54:13
  are
• 54:13
  your
• 54:13
  thoughts
• 54:14
  there?
• 54:16
  Well,
• 54:16
  you
• 54:17
  just
• 54:17
  created
• 54:17
  some
• 54:17
  sadness
• 54:18
  for
• 54:18
  me.
• 54:20
  Just
• 54:21
  died
• 54:21
  a
• 54:21
  little
• 54:21
  bit.
• 54:22
  Just
• 54:23
  died
• 54:23
  a
• 54:23
  little
• 54:23
  bit.
• 54:23
  I'm
• 54:24
  headed
• 54:24
  to
• 54:24
  Costco
• 54:24
  now.
• 54:25
  Oh
• 54:25
  my
• 54:25
  gosh.
• 54:26
  Well,
• 54:26
  I
• 54:26
  have
• 54:26
  a.
• 54:27
  I
• 54:27
  have
• 54:27
  another
• 54:27
  option
• 54:28
  for
• 54:28
  you,
• 54:28
  brooks.
• 54:29
  Question
• 54:29
  number
• 54:29
  three.
• 54:30
  This
• 54:30
  year
• 54:30
  McDonald's
• 54:31
  is
• 54:31
  celebrating
• 54:32
  50
• 54:32
  years
• 54:33
  of
• 54:33
  the
• 54:33
  egg
• 54:34
  McMuffin.
• 54:34
  In
• 54:34
  case
• 54:34
  that
• 54:35
  sounds
• 54:35
  more
• 54:35
  appealing
• 54:36
  to
• 54:36
  you
• 54:36
  than
• 54:36
  the
• 54:36
  hot
• 54:36
  dog,
• 54:37
  if
• 54:37
  not
• 54:38
  the
• 54:38
  egg
• 54:38
  McMuffin,
• 54:39
  describe
• 54:39
  your
• 54:39
  perfect
• 54:40
  breakfast
• 54:40
  sandwich.
• 54:42
  Oh,
• 54:42
  hey,
• 54:42
  I'll
• 54:43
  be
• 54:43
  right
• 54:43
  back.
• 54:43
  I'm
• 54:43
  going
• 54:44
  out
• 54:44
  right
• 54:44
  now
• 54:45
  to
• 54:45
  get
• 54:45
  an
• 54:45
  egg
• 54:45
  McMuffin.
• 54:46
  I
• 54:46
  want
• 54:46
  that.
• 54:48
  Hey,
• 54:48
  from
• 54:48
  New
• 54:48
  Jersey.
• 54:49
  Everything
• 54:49
  starts
• 54:50
  and
• 54:50
  ends
• 54:50
  with
• 54:51
  Bagel
• 54:51
  Masters
• 54:52
  Egg
• 54:52
  everything
• 54:53
  Bagel.
• 54:55
  They
• 54:55
  used
• 54:55
  to
• 54:55
  sell
• 54:56
  T
• 54:56
  shirts
• 54:57
  at
• 54:57
  Bagel
• 54:57
  Masters
• 54:58
  with
• 54:58
  the
• 54:58
  words
• 54:59
  I
• 54:59
  love
• 54:59
  Gl.
• 55:02
  Nice.
• 55:03
  I
• 55:03
  think
• 55:03
  I'm
• 55:03
  with
• 55:03
  you.
• 55:03
  My
• 55:04
  perfect
• 55:04
  breakfast
• 55:04
  sandwich
• 55:05
  also
• 55:05
  has
• 55:05
  a
• 55:05
  bagel.
• 55:06
  All
• 55:06
  right,
• 55:06
  last
• 55:06
  one.
• 55:07
  Cheerios
• 55:08
  has
• 55:08
  recently
• 55:08
  pulled
• 55:09
  and
• 55:09
  discontinued
• 55:10
  Honey
• 55:10
  Nut
• 55:10
  Cheerios
• 55:10
  Medley
• 55:11
  Crunch,
• 55:12
  Chocolate
• 55:12
  Peanut
• 55:12
  butter
• 55:13
  Cheerios
• 55:13
  and
• 55:13
  Honey
• 55:14
  Nut
• 55:14
  Cheerios
• 55:14
  Minis
• 55:15
  from
• 55:15
  its
• 55:15
  from
• 55:16
  store
• 55:16
  shelves.
• 55:17
  Let's
• 55:18
  see.
• 55:18
  Bryson,
• 55:18
  I
• 55:18
  think
• 55:18
  this
• 55:19
  one
• 55:19
  goes
• 55:19
  to
• 55:19
  you.
• 55:19
  If
• 55:19
  not,
• 55:20
  we'll
• 55:20
  just
• 55:20
  figure
• 55:20
  it
• 55:20
  out.
• 55:21
  How
• 55:21
  saddened
• 55:22
  are
• 55:22
  you
• 55:22
  by
• 55:22
  this
• 55:22
  news
• 55:23
  and
• 55:23
  given
• 55:23
  the
• 55:23
  choice,
• 55:24
  are
• 55:24
  you
• 55:24
  more
• 55:24
  straight
• 55:25
  up
• 55:25
  Cheerios
• 55:25
  or
• 55:25
  more
• 55:26
  Honey
• 55:26
  Nut?
• 55:27
  So
• 55:28
  I'm
• 55:28
  not
• 55:28
  affected
• 55:28
  by
• 55:28
  this
• 55:29
  one.
• 55:29
  So
• 55:29
  I
• 55:29
  am
• 55:29
  straight
• 55:30
  up
• 55:30
  Honey
• 55:30
  Nut
• 55:30
  Cheerios
• 55:31
  bowl
• 55:31
  of
• 55:31
  Honey
• 55:32
  Nut
• 55:32
  Cheerios.
• 55:32
  You
• 55:32
  know,
• 55:32
  I've
• 55:33
  been
• 55:33
  feeling
• 55:33
  crazy.
• 55:33
  A
• 55:33
  little
• 55:34
  SL
• 55:34
  Banana
• 55:34
  in
• 55:34
  there.
• 55:35
  It's
• 55:35
  kind
• 55:35
  of
• 55:35
  the
• 55:35
  perfect
• 55:35
  little
• 55:36
  breakfast
• 55:36
  if
• 55:36
  I'm
• 55:36
  on
• 55:37
  the
• 55:37
  go.
• 55:38
  I
• 55:38
  think
• 55:38
  you
• 55:38
  know
• 55:38
  what
• 55:39
  I
• 55:39
  am
• 55:39
  saddened
• 55:39
  by
• 55:39
  and
• 55:40
  surprised
• 55:40
  by
• 55:40
  at
• 55:40
  the
• 55:40
  same
• 55:41
  time
• 55:41
  is
• 55:41
  just
• 55:41
  the
• 55:42
  proliferation
• 55:42
  of
• 55:43
  SKUs
• 55:43
  that,
• 55:43
  you
• 55:43
  know,
• 55:44
  Cheerios
• 55:44
  has
• 55:44
  introduced.
• 55:45
  I
• 55:45
  think
• 55:45
  you
• 55:45
  know,
• 55:46
  last
• 55:46
  looking
• 55:46
  at
• 55:46
  the
• 55:46
  website,
• 55:47
  there's
• 55:47
  over
• 55:47
  23
• 55:47
  different
• 55:47
  varieties.
• 55:49
  Again,
• 55:49
  being
• 55:49
  that
• 55:50
  long
• 55:50
  term,
• 55:50
  you
• 55:50
  know,
• 55:50
  loyalist
• 55:51
  to
• 55:51
  Honey
• 55:51
  Nut,
• 55:51
  I
• 55:52
  didn't
• 55:52
  realize
• 55:52
  their
• 55:52
  extensive.
• 55:53
  The
• 55:53
  extensivity
• 55:53
  of
• 55:54
  their
• 55:54
  portfolio
• 55:54
  went
• 55:55
  that
• 55:55
  deep.
• 55:56
  So
• 55:56
  it
• 55:56
  was
• 55:56
  a
• 55:56
  bit
• 55:56
  surprised
• 55:57
  to
• 55:57
  see
• 55:57
  kind
• 55:58
  of
• 55:58
  the,
• 55:58
  the
• 55:58
  number
• 55:58
  of
• 55:58
  extensions.
• 55:59
  But
• 55:59
  I
• 55:59
  think
• 55:59
  also
• 55:59
  too
• 56:00
  it
• 56:00
  speaks
• 56:00
  to,
• 56:00
  you
• 56:00
  know,
• 56:01
  know
• 56:01
  them
• 56:01
  staying
• 56:01
  close
• 56:02
  to
• 56:02
  the
• 56:02
  consumer
• 56:02
  trends
• 56:03
  and
• 56:03
  Understanding
• 56:04
  what's
• 56:04
  top
• 56:04
  of
• 56:04
  mind
• 56:04
  for
• 56:05
  consumer.
• 56:05
  I
• 56:05
  think,
• 56:05
  you
• 56:05
  know,
• 56:06
  recently
• 56:06
  they've
• 56:06
  launched
• 56:06
  into
• 56:07
  a
• 56:07
  protein
• 56:07
  based
• 56:08
  cereal
• 56:08
  so
• 56:09
  capturing
• 56:09
  in
• 56:09
  on
• 56:09
  that
• 56:09
  health
• 56:10
  and
• 56:10
  wellness
• 56:10
  aspect.
• 56:11
  So
• 56:11
  I
• 56:11
  think,
• 56:11
  you
• 56:11
  know,
• 56:12
  kudos
• 56:12
  to
• 56:12
  Cheerios
• 56:13
  for
• 56:13
  staying
• 56:13
  relevant,
• 56:14
  staying
• 56:14
  top
• 56:14
  of
• 56:14
  mind,
• 56:14
  you
• 56:15
  know,
• 56:15
  being
• 56:15
  willing
• 56:16
  to
• 56:16
  take
• 56:16
  those
• 56:16
  risks
• 56:17
  and
• 56:17
  identify
• 56:17
  potential
• 56:18
  new
• 56:18
  opportunities
• 56:19
  in
• 56:19
  test
• 56:19
  and
• 56:20
  learn.
• 56:20
  So
• 56:20
  I
• 56:21
  think
• 56:21
  it's
• 56:21
  a
• 56:21
  natural
• 56:21
  evolution.
• 56:22
  Am
• 56:22
  I
• 56:22
  saddened
• 56:23
  by
• 56:23
  it?
• 56:23
  You
• 56:23
  know,
• 56:23
  not
• 56:23
  directly
• 56:24
  because
• 56:24
  I
• 56:24
  think
• 56:24
  it
• 56:25
  also
• 56:25
  speaks
• 56:25
  to,
• 56:25
  you
• 56:25
  know,
• 56:26
  them
• 56:26
  being
• 56:26
  at
• 56:26
  the
• 56:26
  forefront
• 56:26
  of
• 56:27
  trying
• 56:27
  new
• 56:27
  options
• 56:27
  and
• 56:27
  bringing
• 56:29
  different
• 56:29
  flavor
• 56:29
  combinations
• 56:30
  forward.
• 56:31
  Yeah,
• 56:31
  you
• 56:31
  and
• 56:31
  me
• 56:31
  both.
• 56:31
  I
• 56:32
  went
• 56:32
  on
• 56:32
  the
• 56:32
  website
• 56:32
  yesterday
• 56:32
  too.
• 56:33
  I
• 56:33
  couldn't
• 56:33
  believe
• 56:33
  how
• 56:34
  many
• 56:34
  SKUs
• 56:34
  they
• 56:34
  had.
• 56:35
  And
• 56:35
  yeah,
• 56:36
  and
• 56:36
  interesting
• 56:36
  news
• 56:36
  from
• 56:36
  General
• 56:36
  Mills
• 56:37
  overnight
• 56:37
  too,
• 56:37
  that
• 56:38
  they're
• 56:38
  going
• 56:38
  to
• 56:38
  remove
• 56:38
  artificial
• 56:39
  colors
• 56:40
  and
• 56:40
  flavorings
• 56:41
  in
• 56:41
  their
• 56:41
  products
• 56:41
  by
• 56:42
  I
• 56:42
  think
• 56:42
  2027
• 56:43
  if
• 56:43
  I'm
• 56:43
  not
• 56:43
  mistaken.
• 56:44
  So
• 56:44
  yeah,
• 56:44
  a
• 56:44
  lot
• 56:45
  of,
• 56:45
  lot
• 56:45
  of
• 56:45
  lot
• 56:45
  happening
• 56:46
  in
• 56:46
  the
• 56:46
  food
• 56:46
  industry
• 56:46
  right
• 56:46
  now.
• 56:47
  All
• 56:47
  right,
• 56:47
  that
• 56:47
  closes
• 56:48
  us
• 56:48
  up.
• 56:48
  Happy
• 56:48
  birthday
• 56:49
  today
• 56:49
  to
• 56:50
  Richard
• 56:50
  Madden,
• 56:51
  Isabella
• 56:51
  Rossellini
• 56:52
  and
• 56:52
  to
• 56:52
  the
• 56:52
  woman
• 56:53
  who
• 56:53
  nearly
• 56:53
  upstaged
• 56:54
  Billy
• 56:54
  Crystal
• 56:54
  in
• 56:55
  the
• 56:55
  Princess
• 56:55
  Bride,
• 56:55
  nearly
• 56:56
  the
• 56:56
  great
• 56:57
  Carol
• 56:57
  Kate.
• 56:58
  And
• 56:58
  remember,
• 56:58
  if
• 56:58
  you
• 56:58
  can
• 56:59
  only
• 56:59
  read
• 56:59
  or
• 56:59
  listen
• 56:59
  to
• 56:59
  one
• 57:00
  retail
• 57:00
  blog
• 57:00
  in
• 57:00
  the
• 57:00
  business,
• 57:01
  make
• 57:01
  it
• 57:01
  Omniton,
• 57:02
  the
• 57:02
  only
• 57:03
  retail
• 57:03
  media
• 57:03
  outlet
• 57:03
  run
• 57:04
  by
• 57:04
  two
• 57:04
  former
• 57:04
  executives
• 57:05
  from
• 57:05
  a
• 57:05
  current
• 57:05
  top
• 57:06
  10
• 57:06
  US
• 57:06
  retailer.
• 57:07
  Our
• 57:07
  Fast
• 57:08
  Five
• 57:08
  podcast
• 57:08
  is
• 57:08
  the
• 57:08
  quickest,
• 57:09
  fastest
• 57:09
  rundown
• 57:09
  of
• 57:09
  all
• 57:10
  the
• 57:10
  week's
• 57:10
  top
• 57:10
  news.
• 57:10
  And
• 57:10
  our
• 57:11
  daily
• 57:11
  newsletter,
• 57:11
  the
• 57:11
  Retail
• 57:12
  Daily
• 57:12
  Minute,
• 57:12
  tells
• 57:12
  you
• 57:13
  all
• 57:13
  you
• 57:13
  need
• 57:13
  to
• 57:13
  know
• 57:14
  each
• 57:14
  day
• 57:14
  to
• 57:15
  stay
• 57:15
  on
• 57:15
  top
• 57:15
  of
• 57:15
  your
• 57:15
  game
• 57:16
  as
• 57:16
  a
• 57:16
  retail
• 57:16
  executive
• 57:16
  and
• 57:17
  also
• 57:17
  regularly
• 57:18
  feature
• 57:18
  special
• 57:18
  content
• 57:19
  that
• 57:19
  is
• 57:19
  exclusive
• 57:20
  to
• 57:20
  us
• 57:20
  and
• 57:20
  that
• 57:21
  Ann
• 57:21
  and
• 57:21
  I
• 57:21
  take
• 57:21
  a
• 57:22
  lot
• 57:22
  of
• 57:22
  pride
• 57:22
  in
• 57:22
  doing
• 57:23
  just
• 57:23
  for
• 57:23
  you.
• 57:24
  Thanks
• 57:24
  as
• 57:24
  always
• 57:24
  for
• 57:25
  listening
• 57:25
  in.
• 57:25
  Please
• 57:25
  remember
• 57:25
  to
• 57:26
  like
• 57:26
  and
• 57:26
  leave
• 57:26
  us
• 57:26
  a
• 57:26
  review
• 57:27
  wherever
• 57:27
  you
• 57:27
  happen
• 57:27
  to
• 57:28
  listen
• 57:28
  to
• 57:28
  your
• 57:28
  podcast
• 57:29
  or
• 57:29
  on
• 57:29
  YouTube.
• 57:30
  You
• 57:30
  can
• 57:30
  follow
• 57:30
  us
• 57:30
  today
• 57:30
  by
• 57:31
  simply
• 57:31
  going
• 57:31
  to
• 57:31
  YouTube.com
• 57:33
  omnitalkretail
• 57:35
  Bryson,
• 57:35
  if
• 57:35
  people
• 57:36
  were
• 57:36
  listening
• 57:36
  and
• 57:36
  they're
• 57:36
  saying,
• 57:37
  hey,
• 57:37
  I
• 57:37
  want
• 57:37
  to
• 57:37
  get
• 57:38
  in
• 57:38
  touch
• 57:38
  with
• 57:38
  the
• 57:38
  A
• 57:38
  and
• 57:38
  M
• 57:39
  consumer
• 57:39
  and
• 57:39
  retail
• 57:39
  group,
• 57:40
  what's
• 57:40
  the
• 57:40
  best
• 57:40
  way
• 57:40
  for
• 57:40
  them
• 57:41
  to
• 57:41
  do
• 57:41
  that?
• 57:42
  Yeah,
• 57:42
  I
• 57:42
  think
• 57:42
  the
• 57:42
  best
• 57:42
  way
• 57:43
  is
• 57:43
  to
• 57:43
  get
• 57:43
  that
• 57:43
  through
• 57:43
  our
• 57:43
  website.
• 57:44
  It's
• 57:44
  www.alvarez
• 57:46
  and
• 57:46
  marcel.com
• 57:47
  and
• 57:47
  there,
• 57:48
  you
• 57:48
  know,
• 57:48
  you
• 57:48
  can
• 57:48
  find
• 57:48
  all,
• 57:49
  all
• 57:49
  of
• 57:49
  our
• 57:49
  bios,
• 57:50
  you
• 57:50
  know,
• 57:50
  compelled
• 57:50
  in
• 57:51
  reach
• 57:51
  out
• 57:51
  directly
• 57:52
  to
• 57:52
  Brook
• 57:52
  Brooks,
• 57:53
  you
• 57:53
  know,
• 57:53
  by
• 57:54
  all
• 57:54
  means,
• 57:54
  he's
• 57:54
  there.
• 57:54
  And
• 57:55
  the
• 57:55
  easiest
• 57:55
  way
• 57:55
  to
• 57:55
  reach
• 57:55
  out
• 57:56
  myself
• 57:56
  as
• 57:56
  well.
• 57:57
  All
• 57:58
  right,
• 57:58
  all
• 57:58
  right.
• 57:58
  Well,
• 57:59
  thank
• 57:59
  you
• 57:59
  both
• 57:59
  for
• 58:00
  joining
• 58:00
  us.
• 58:00
  It's
• 58:00
  always
• 58:00
  a
• 58:01
  great
• 58:01
  show,
• 58:01
  always
• 58:01
  a
• 58:02
  lively
• 58:02
  debate
• 58:02
  too.
• 58:03
  And
• 58:03
  we
• 58:03
  definitely
• 58:03
  have,
• 58:03
  we
• 58:04
  definitely
• 58:04
  had
• 58:04
  some
• 58:04
  disagreement
• 58:05
  today
• 58:05
  too
• 58:05
  which
• 58:06
  is
• 58:06
  something
• 58:06
  we
• 58:06
  always
• 58:06
  love
• 58:07
  on
• 58:07
  this
• 58:07
  show.
• 58:08
  So
• 58:08
  until
• 58:08
  next
• 58:09
  week,
• 58:09
  Omnitok
• 58:10
  fans,
• 58:10
  on
• 58:10
  behalf
• 58:10
  of
• 58:11
  all
• 58:11
  of
• 58:11
  us,
• 58:12
  as
• 58:12
  always,
• 58:13
  be
• 58:13
  careful
• 58:13
  out
• 58:13
  there.