Latest / Omni Talk Retail / Amazon Exits Fresh, E-Grocery Booms & eBay Bans AI Bots | Fast Five

Transcript

Amazon Exits Fresh, E-Grocery Booms & eBay Bans AI Bots | Fast Five · Omni Talk Retail

0:01
This
0:01
episode
0:01
of
0:01
The
0:01
OmniTalk
0:02
Retail
0:02
Fast
0:03
5
0:03
is
0:03
brought
0:03
to
0:03
you
0:03
by
0:04
the
0:04
A
0:04
and
0:04
M
0:04
Consumer
0:05
and
0:05
Retail
0:05
Group.
0:05
The
0:06
A
0:06
and
0:06
M
0:06
Consumer
0:06
and
0:06
Retail
0:07
Group
0:07
is
0:07
a
0:07
management
0:08
consulting
0:08
firm
0:08
that
0:08
tackles
0:09
the
0:09
most
0:09
complex
0:10
challenges
0:10
and
0:11
advances
0:11
its
0:11
clients,
0:12
people
0:12
and
0:12
communities
0:13
toward
0:13
their
0:14
maximum
0:14
potential.
0:15
CRG
0:16
brings
0:16
the
0:16
experience,
0:16
tools
0:17
and
0:17
operator
0:18
like
0:18
pragmatism
0:19
to
0:19
help
0:19
retailers
0:19
and
0:20
consumer
0:20
products
0:20
companies
0:21
be
0:21
on
0:21
the
0:22
right
0:22
side
0:22
of
0:22
disruption
0:24
and
0:24
Miracle,
0:25
the
0:25
catalyst
0:25
of
0:25
Commerce.
0:26
Over
0:26
450
0:27
retailers
0:28
are
0:28
opening
0:28
new
0:29
revenue
0:29
streams
0:29
with
0:29
marketplaces,
0:30
dropship
0:31
and
0:31
retail
0:31
media
0:32
and
0:32
succeeding.
0:33
With
0:33
Miracle,
0:34
you
0:34
can
0:34
unlock
0:34
more
0:34
products,
0:35
more
0:35
partners
0:35
and
0:36
more
0:36
profits
0:36
without
0:37
the
0:37
heavy
0:37
lifting.
0:38
So
0:38
what's
0:38
holding
0:38
you
0:39
back?
0:39
Visit
0:39
Miracle.com
0:40
to
0:40
learn
0:41
more.
0:41
That's
0:41
M
0:41
I
0:42
R
0:42
A
0:42
K
0:43
L.com
0:44
and
0:44
Corso.
0:45
Your
0:46
stores
0:46
are
0:46
full
0:46
of
0:46
data,
0:47
but
0:47
are
0:47
your
0:48
teams
0:48
acting
0:48
on
0:48
it?
0:49
Corso
0:50
turns
0:50
retail
0:50
data
0:51
into
0:51
personalized
0:52
daily
0:52
to
0:52
dos
0:52
that
0:52
drive
0:53
sales,
0:53
reduce
0:53
waste
0:54
and
0:54
improve
0:55
execution.
0:56
No
0:56
fluff,
0:57
just
0:57
action.
0:57
Help
0:58
your
0:58
managers
0:58
focus
0:59
on
0:59
what
0:59
matters
0:59
most.
1:00
Visit
1:00
corso.com
1:01
to
1:02
see
1:02
Intelligent
1:02
management
1:03
in
1:03
motion.
1:03
Ocean
1:04
and
1:04
Infios
1:05
At
1:05
Infios,
1:06
they
1:06
unite
1:06
warehousing,
1:07
transportation
1:07
and
1:08
order
1:08
management
1:08
into
1:09
a
1:09
seamless,
1:09
adaptable
1:10
network.
1:11
Infios
1:11
helps
1:11
you
1:12
stay
1:12
ahead
1:12
from
1:13
promise
1:13
to
1:13
delivery
1:14
and
1:14
every
1:14
step
1:14
in
1:15
between.
1:15
To
1:16
learn
1:16
more,
1:16
visit
1:17
infios.com
1:18
and
1:19
Ocampo
1:19
Capital.
1:20
Ocampo
1:20
Capital
1:21
is
1:21
a
1:21
venture
1:21
capital
1:21
firm
1:22
founded
1:22
by
1:22
retail
1:23
executives
1:23
with
1:24
the
1:24
aim
1:24
of
1:24
helping
1:25
early
1:25
stage
1:25
consumer
1:26
businesses
1:26
succeed
1:27
through
1:27
investment
1:28
and
1:28
operational
1:29
support.
1:29
Learn
1:30
more@okampocapital.com
1:33
and
1:33
finally
1:33
Voloc.
1:34
Voloc
1:34
is
1:34
a
1:35
proven
1:35
e
1:35
grocery
1:36
technology
1:36
built
1:36
by
1:36
grocers
1:37
for
1:38
grocers.
1:38
Exactly
1:39
the
1:39
type
1:39
of
1:39
technology
1:39
we
1:40
like
1:40
here
1:40
at
1:40
Omnitalk.
1:41
They
1:41
unite
1:42
proprietary
1:42
software
1:43
with
1:43
right
1:43
size
1:44
automation
1:44
to
1:44
make
1:45
same
1:45
day
1:45
delivery
1:46
profitable.
1:46
To
1:47
learn
1:47
more,
1:47
visit
1:47
veloc.com
1:48
that's
1:49
V.
1:49
E
1:49
L
1:50
O
1:50
q.com
1:52
hello,
1:53
you
1:53
are
1:53
listening
1:53
to
1:54
Omnitalk's
1:54
Retail
1:54
Fast
1:55
Five,
1:55
ranked
1:55
in
1:55
the
1:56
top
1:56
10%
1:56
of
1:56
all
1:57
podcasts
1:57
globally
1:57
and
1:58
currently
1:58
the
1:58
only
1:58
retail
1:59
podcast
1:59
ranked
2:00
in
2:00
the
2:00
top
2:00
100
2:01
of
2:01
all
2:02
business
2:02
podcasts
2:02
on
2:03
Apple
2:03
Podcasts.
2:03
The
2:04
Retail
2:04
Fast
2:04
Five
2:04
is
2:04
the
2:05
podcast
2:05
that
2:05
we
2:05
hope
2:05
makes
2:05
you
2:06
feel
2:06
a
2:06
little
2:07
smarter,
2:07
but
2:07
most
2:07
importantly,
2:08
a
2:08
little
2:08
happier
2:09
each
2:09
week
2:09
too.
2:10
Today
2:10
is
2:11
February
2:11
4,
2:12
2026.
2:13
I'm
2:13
one
2:13
of
2:13
your
2:13
hosts,
2:14
Anne
2:14
Mazinga.
2:15
And
2:15
I'm
2:15
one
2:15
of
2:16
your
2:16
other
2:16
hosts,
2:16
Chris
2:16
Walton.
2:17
And
2:17
we're
2:18
here
2:18
once
2:18
again
2:18
to
2:18
bring
2:19
you
2:19
all
2:19
the
2:19
top
2:19
retail
2:20
headlines
2:20
making
2:21
waves
2:21
in
2:21
the
2:22
world
2:22
of
2:22
omnichannel
2:23
retailing.
2:24
Helping
2:24
us
2:24
out
2:25
today
2:25
for
2:25
their
2:25
regularly
2:26
scheduled
2:27
monthly
2:27
appearance
2:27
is
2:28
the
2:28
Alvarez
2:28
and
2:28
Marcel
2:29
consumer
2:29
and
2:29
retail
2:30
group's
2:30
managing
2:31
director
2:31
Ken
2:32
Cochran
2:32
and
2:33
senior
2:33
director
2:34
John
2:34
Malankar.
2:35
Ken.
2:36
John,
2:37
welcome
2:38
both
2:38
of
2:38
you
2:39
first
2:39
timers
2:40
to
2:40
OmniTok.
2:41
I
2:42
want
2:42
to
2:42
start
2:43
by
2:43
having
2:43
each
2:44
of
2:44
you
2:44
introduce
2:45
yourselves
2:45
and
2:46
give
2:46
a
2:46
brief
2:46
background
2:47
for
2:47
our
2:48
audience
2:48
since,
2:48
since
2:49
this
2:49
is
2:49
your
2:49
first
2:50
time.
2:50
And
2:50
Ken,
2:51
we're
2:51
going
2:51
to
2:51
go
2:51
to
2:52
you
2:52
first.
2:53
I
2:53
have
2:53
been
2:54
with
2:54
A
2:54
and
2:54
M
2:54
for
2:55
a
2:55
little
2:55
over
2:55
eight
2:56
years.
2:56
I,
2:57
I
2:57
spent
2:58
some
2:58
time,
2:58
a
2:58
very
2:59
long
2:59
time
2:59
with
2:59
one
2:59
of
2:59
the
3:00
companies
3:00
that
3:00
you're
3:00
going
3:00
to
3:00
ask
3:01
me
3:01
a
3:01
question
3:01
about
3:01
later.
3:02
So
3:02
it'll
3:03
be
3:03
a
3:03
little
3:03
search
3:04
and
3:04
find
3:04
game
3:05
for
3:05
everybody
3:05
to
3:05
figure
3:05
out
3:06
which
3:06
company
3:06
it
3:06
is.
3:06
But
3:06
I
3:07
bet
3:07
you'll
3:07
be
3:07
able
3:07
to
3:07
figure
3:08
it
3:08
out.
3:08
I,
3:09
I've
3:10
become
3:10
a
3:10
grandfather
3:10
for
3:11
the
3:11
second
3:11
time
3:11
in
3:11
the
3:11
past
3:12
month,
3:12
so
3:12
that's
3:12
pretty
3:13
exciting.
3:13
And
3:15
I'm
3:15
currently
3:15
in
3:16
France
3:16
sitting
3:16
in
3:16
a
3:17
DC
3:17
because
3:17
that's
3:18
all
3:18
I
3:18
do
3:18
is
3:18
go
3:19
to
3:19
DCs
3:19
and
3:19
figure
3:20
stuff
3:20
out.
3:20
So
3:20
thanks
3:21
for
3:21
the
3:21
opportunity
3:22
and
3:22
run.
3:23
The
3:23
world
3:23
as
3:23
a
3:23
grandpa
3:24
for
3:24
the
3:24
second
3:24
time.
3:25
Congratulations
3:26
on
3:26
that,
3:26
Ken.
3:26
I'm
3:27
excited
3:27
to
3:27
hear
3:27
more
3:28
about
3:28
that
3:28
after
3:28
the
3:29
show.
3:29
All
3:30
right.
3:30
And
3:30
John,
3:31
let's
3:31
hear
3:32
about
3:32
you
3:32
and
3:32
your
3:32
background.
3:33
Sure
3:34
thing.
3:35
Good
3:35
morning,
3:35
good
3:35
afternoon,
3:36
good
3:36
evening.
3:36
Depending
3:36
on
3:37
when
3:37
somebody
3:37
might
3:38
be
3:38
listening
3:38
to
3:38
this.
3:39
Yeah,
3:39
My
3:39
name
3:39
is
3:40
John
3:40
Malankar,
3:40
senior
3:41
director
3:41
with
3:41
Alvarez
3:42
and
3:42
Marcel
3:42
consumer
3:43
and
3:43
retail
3:43
group.
3:44
I
3:44
spent
3:44
the
3:45
better
3:45
part
3:45
of
3:45
the
3:45
last
3:45
15
3:45
years
3:46
focused
3:46
on
3:47
end
3:47
to
3:47
end
3:47
operations
3:48
in
3:48
food
3:48
and
3:49
beverage,
3:49
or
3:49
cpg,
3:51
as
3:51
well
3:51
as
3:51
some
3:51
groceries.
3:52
And
3:52
that
3:52
means
3:53
I
3:53
found
3:53
myself
3:54
doing
3:54
everything
3:54
from
3:55
sourcing
3:55
peanut
3:55
butter
3:56
cups
3:56
to
3:56
be
3:57
included
3:57
in
3:57
ice
3:58
cream
3:58
to
3:59
warehouse
3:59
networking
4:00
modeling
4:01
for
4:01
a
4:01
client
4:01
that
4:02
did
4:02
everything
4:02
from
4:03
jarred
4:03
pickles
4:03
to
4:04
dried
4:04
pasta
4:05
and
4:05
everything
4:05
in
4:05
between
4:06
and
4:07
even
4:07
reducing
4:08
waste
4:08
at
4:08
a
4:08
chicken
4:09
processing
4:09
plant.
4:09
And
4:09
I'll
4:10
let
4:10
everybody
4:10
guess
4:10
which
4:10
one
4:11
of
4:11
those,
4:11
you
4:11
know,
4:11
smelled
4:11
the
4:12
best
4:12
or
4:12
maybe
4:12
with
4:13
the
4:13
most
4:13
fun.
4:14
But
4:14
it's,
4:15
it's
4:15
been
4:15
a
4:15
good,
4:16
a
4:16
great
4:16
ride
4:16
and
4:16
excited
4:17
to
4:17
be
4:17
here
4:17
and
4:17
share
4:18
my
4:18
perspectives
4:18
on
4:19
some
4:19
of
4:19
the
4:19
headlines
4:19
of
4:20
the
4:20
day
4:20
with
4:20
y'.
4:20
All.
4:21
Oh,
4:21
John,
4:22
I
4:22
am
4:22
jealous
4:22
of
4:23
pickles,
4:23
pasta
4:24
and
4:24
peanut
4:24
butter
4:24
cups,
4:25
that
4:25
those
4:25
are
4:25
three
4:26
categories
4:26
that
4:27
I
4:27
would
4:27
love
4:27
to
4:27
be
4:28
part
4:28
of
4:28
a
4:29
focus
4:29
group
4:29
for.
4:30
So
4:30
I'm
4:31
excited
4:31
to
4:32
have
4:32
your
4:32
insight
4:33
on
4:33
the
4:33
show.
4:34
Well,
4:34
thanks
4:34
so
4:35
much
4:35
for
4:35
being
4:35
here,
4:35
Chris.
4:35
Should
4:36
we
4:36
get
4:36
started?
4:37
Yeah,
4:37
let's
4:38
do
4:38
it.
4:38
I
4:38
mean,
4:38
usually
4:38
we
4:39
talk
4:39
about
4:39
the
4:39
four
4:39
P's
4:40
when
4:40
it
4:40
comes
4:40
to
4:40
marketing,
4:41
but
4:41
I
4:41
think
4:41
we
4:41
got
4:41
the
4:41
three
4:41
P's
4:42
here
4:42
with
4:42
John
4:42
with
4:43
pickles,
4:43
pasta
4:43
and
4:44
peanut
4:44
butter
4:44
cups.
4:44
So
4:45
I
4:45
think
4:45
we've
4:46
got
4:46
to
4:46
get
4:46
to
4:46
this
4:46
week's
4:46
headlines.
4:47
Because
4:47
in
4:47
this
4:48
week's
4:48
Fast
4:48
Five,
4:48
we've
4:49
got
4:49
news
4:49
on
4:49
grocery
4:50
E
4:50
commerce
4:51
hitting
4:51
19%
4:52
penetration
4:52
last
4:53
month.
4:53
Walmart
4:54
launching
4:54
a
4:54
cross
4:55
border
4:55
shipment
4:55
program
4:56
to
4:56
take
4:56
on
4:56
Amazon's
4:57
FBA
4:58
program.
4:58
EBay
4:59
drawing
4:59
a
4:59
hard
5:00
line
5:00
in
5:00
the
5:00
sand
5:00
against
5:01
AI
5:01
shopping
5:02
bots
5:02
on
5:02
its
5:02
platform.
5:03
And
5:03
BJ's
5:04
Wholesale
5:04
opening
5:05
its
5:05
second
5:06
small
5:06
format
5:07
market
5:07
location.
5:08
But
5:08
we
5:08
begin
5:08
today
5:09
with
5:09
another
5:09
about.
5:10
Face
5:10
from
5:11
Amazon
5:11
and
5:13
all
5:13
right,
5:13
headline
5:14
one.
5:14
Amazon
5:15
is
5:15
shutting
5:16
down
5:16
its
5:16
Amazon
5:17
One
5:18
palm
5:18
recognition
5:19
payment
5:19
system
5:20
and
5:20
in
5:20
the
5:20
same
5:21
week
5:21
is
5:22
closing
5:22
all
5:23
72
5:24
of
5:24
its
5:24
Amazon
5:24
Go
5:25
and
5:25
Amazon
5:26
Fresh
5:26
physical
5:27
stores
5:27
according
5:28
to
5:28
multiple
5:28
outlets.
5:29
Amazon
5:29
announced
5:29
it
5:30
will
5:30
end
5:30
Amazon
5:30
one
5:31
and
5:31
remove
5:32
all
5:32
palm
5:32
readers
5:33
from
5:33
physical
5:33
locations
5:34
by
5:34
June
5:34
3rd
5:35
of
5:35
this
5:35
year
5:36
citing
5:36
limited
5:37
customer
5:37
adoption.
5:38
The
5:38
simultaneously
5:39
Amazon
5:40
said
5:40
it
5:40
would
5:40
close
5:40
all
5:41
72
5:41
of
5:41
its
5:42
Amazon
5:42
Go
5:42
and
5:43
Amazon
5:43
Fresh
5:43
stores
5:44
across
5:44
the
5:44
US
5:45
Converting
5:45
various
5:46
locations
5:47
into
5:47
Whole
5:47
Foods
5:48
Market
5:48
stores.
5:49
Amazon
5:49
stated,
5:50
quote,
5:50
while
5:50
we've
5:51
seen
5:51
encouraging
5:51
signals
5:52
in
5:52
our
5:52
Amazon
5:52
branded
5:53
physical
5:53
grocery
5:53
stores,
5:54
we
5:54
haven't
5:55
yet
5:55
created
5:55
a
5:55
truly
5:56
distinctive
5:56
customer
5:57
experience
5:57
with
5:57
the
5:57
right
5:58
economic
5:58
model
5:59
needed
5:59
for
5:59
large
6:00
scale
6:00
expansion.
6:01
End
6:01
quote.
6:02
John,
6:03
we're
6:03
going
6:03
to
6:03
you
6:04
here
6:04
first.
6:05
What
6:05
do
6:05
you
6:05
think
6:05
is
6:05
the
6:05
bigger
6:06
headline
6:06
here?
6:06
That
6:06
Amazon
6:07
is
6:07
shutting
6:07
down
6:08
its
6:08
standalone
6:08
grocery
6:09
stores
6:09
or
6:10
that
6:10
it's
6:10
ending
6:11
its
6:11
palm
6:12
payment
6:12
efforts?
6:13
Yeah,
6:13
I
6:13
think
6:13
that's
6:14
a
6:14
great
6:14
place
6:14
to
6:14
start,
6:15
right?
6:15
What
6:15
is
6:15
the
6:15
bigger
6:15
headline?
6:16
Because
6:16
it's
6:17
a
6:17
very
6:17
curiously
6:17
written
6:17
headline.
6:18
If
6:18
a
6:18
big
6:18
retailer
6:19
is
6:20
pulling
6:20
out
6:21
of,
6:21
you
6:21
know,
6:22
70
6:22
stores
6:22
and
6:22
kind
6:23
of
6:23
closing
6:23
a
6:23
huge
6:24
format,
6:25
which
6:25
was
6:25
a
6:25
big
6:25
bet,
6:26
I
6:27
mean,
6:27
I
6:27
would
6:27
lead
6:27
with
6:27
that,
6:28
right?
6:28
I
6:28
mean
6:28
that's
6:29
where
6:29
my
6:29
eyes
6:29
go.
6:29
And
6:30
if
6:30
I
6:30
dissect
6:30
that
6:30
a
6:31
little
6:31
bit,
6:31
you
6:32
know,
6:32
we
6:32
know
6:32
that
6:33
Amazon
6:33
is
6:33
not
6:34
afraid
6:34
to
6:35
ramp
6:35
something
6:36
down,
6:36
right?
6:36
Or
6:37
sort
6:37
of
6:37
kill
6:37
an
6:37
experiment.
6:38
Does
6:38
anyone
6:38
remember
6:38
the
6:39
fire
6:39
phone?
6:40
You
6:40
know?
6:41
Yeah,
6:41
PSA
6:42
for,
6:42
you
6:42
know,
6:43
rest
6:43
in
6:43
peace,
6:43
right?
6:44
The
6:44
fire
6:44
phone.
6:45
It
6:45
came,
6:45
it
6:45
went,
6:46
didn't
6:46
work.
6:46
Too
6:47
crowded
6:47
of
6:47
a
6:47
space.
6:49
Are
6:49
we
6:49
seeing
6:50
a
6:50
rhyming
6:50
here,
6:51
you
6:51
know,
6:51
with,
6:51
with
6:52
grocery
6:52
store
6:53
actual
6:54
retail
6:54
formats
6:54
where,
6:55
okay,
6:55
they
6:56
gave
6:56
it
6:56
a
6:56
go.
6:57
The
6:57
value
6:57
proposition
6:58
was
6:58
essentially
6:59
around
6:59
affordable
7:00
pricing
7:00
and
7:01
you
7:01
know,
7:01
some
7:01
interesting
7:02
features,
7:02
right?
7:02
A
7:02
different
7:03
shopping.
7:04
I
7:05
remember
7:05
the
7:05
days
7:05
when
7:05
they
7:05
opened
7:06
those
7:06
small
7:06
formats
7:06
and
7:07
you
7:07
had
7:07
all
7:07
the
7:07
cameras
7:07
in
7:08
the
7:08
ceiling
7:08
and
7:08
it
7:09
just
7:09
knew
7:09
what
7:10
we're
7:10
getting
7:10
and
7:10
so
7:11
on,
7:11
right?
7:13
And
7:13
okay,
7:13
they
7:13
tried
7:13
it
7:14
for
7:14
a
7:14
while,
7:14
several
7:14
years.
7:15
They
7:15
had
7:16
the
7:16
Whole
7:16
Foods
7:17
brand,
7:17
which
7:17
is
7:17
obviously
7:17
a
7:17
more
7:18
premium
7:18
brand.
7:18
So
7:18
you
7:19
have
7:19
these
7:19
Amazon
7:19
Fresh
7:20
kind
7:20
of
7:20
playing
7:20
a
7:21
fighter,
7:21
affordable
7:22
strategy.
7:23
Whole
7:23
Foods
7:23
securing
7:24
the
7:24
premium.
7:25
And
7:25
they
7:25
basically
7:25
said
7:26
to
7:26
the
7:26
market,
7:26
you
7:26
know
7:26
what,
7:27
this
7:27
experiment
7:27
down
7:28
here
7:28
didn't
7:28
quite
7:28
work.
7:29
Which.
7:30
Okay,
7:30
let's
7:31
move
7:31
on.
7:31
Right.
7:32
So
7:32
I
7:33
think
7:33
it's
7:33
a,
7:33
it's
7:33
a
7:34
interesting
7:34
milestone
7:35
where,
7:35
hey,
7:36
some
7:36
of
7:36
these
7:36
technologies,
7:36
maybe
7:37
the
7:37
privacy
7:37
concerns
7:38
were
7:38
just
7:38
a
7:38
little
7:39
too
7:39
far.
7:39
We're
7:39
not
7:39
quite
7:40
ready
7:40
for
7:40
it.
7:40
Maybe
7:40
the
7:41
technology
7:41
and
7:41
the
7:41
cameras
7:42
weren't,
7:42
weren't
7:43
quite
7:43
where
7:43
they
7:43
needed
7:43
to
7:43
be.
7:45
So
7:45
we're
7:46
going
7:46
to
7:46
pause
7:46
for
7:46
now
7:46
and
7:47
double
7:47
down
7:47
on
7:47
a
7:48
strong
7:48
brand
7:48
that
7:48
we
7:48
have.
7:49
That's
7:49
kind
7:49
of
7:49
my
7:49
takeaway
7:50
for
7:50
it.
7:50
And
7:50
we'll
7:51
see
7:51
what
7:51
goes
7:51
on
7:52
in
7:52
the
7:52
future
7:53
and
7:53
where
7:53
some
7:53
of
7:53
these
7:53
technologies
7:54
go
7:54
because
7:54
I
7:54
don't
7:55
think
7:55
they're
7:55
going
7:55
to
7:55
go
7:55
away
7:55
forever,
7:55
but
7:56
it's
7:56
okay.
7:56
We
7:56
need
7:57
to
7:57
try
7:57
again
7:57
and
7:57
figure
7:58
this
7:58
out.
7:59
So,
7:59
John,
7:59
your
8:00
thoughts
8:00
are
8:00
really
8:00
more
8:00
focused
8:01
on
8:01
like,
8:02
it
8:02
was
8:02
more
8:02
about
8:02
the
8:03
technology
8:03
not
8:04
working
8:04
in
8:04
the
8:04
store.
8:05
And
8:06
like,
8:06
are
8:06
you.
8:07
Is
8:07
it
8:07
less
8:07
about
8:08
the
8:08
offering,
8:09
the
8:09
grocery
8:09
offering
8:09
that
8:10
Amazon
8:10
was
8:10
able
8:10
to
8:11
provide
8:11
or
8:11
how
8:12
do
8:12
you
8:12
kind
8:12
of
8:12
think
8:12
about
8:12
that?
8:14
Yeah.
8:14
On
8:14
the
8:15
offering.
8:15
So,
8:15
you
8:15
know,
8:16
just
8:17
an
8:17
anecdote
8:17
right
8:18
from
8:18
my
8:18
side
8:18
where
8:18
I
8:18
happen
8:19
to
8:19
live
8:19
right
8:19
now.
8:20
I
8:20
have
8:20
a
8:20
Lidl
8:21
nearby,
8:21
I
8:22
have
8:22
a
8:22
shoprite,
8:23
I
8:23
have
8:23
a
8:23
Trader
8:24
Joe's.
8:24
You
8:25
know,
8:25
Whole
8:25
Foods
8:25
is
8:26
a
8:26
little
8:26
further,
8:26
not
8:27
really
8:27
realistic
8:27
to
8:27
drive
8:27
there.
8:28
And
8:28
I
8:28
do
8:28
have
8:28
an
8:28
Amazon
8:28
Fresh.
8:29
And
8:29
when
8:29
I
8:29
first
8:30
moved
8:30
to
8:30
this
8:30
area
8:30
18
8:31
months
8:31
ago,
8:31
I
8:32
said,
8:32
all
8:32
right,
8:32
well,
8:32
I'm
8:32
going
8:32
to
8:32
go
8:32
to
8:33
all
8:33
of
8:33
them.
8:33
Right.
8:33
And
8:33
see
8:33
what
8:34
the
8:34
deal
8:34
is.
8:34
So
8:36
personally
8:36
and
8:37
you
8:37
know,
8:37
someone
8:37
who's
8:37
worked
8:38
in
8:38
grocery
8:38
for
8:38
a
8:38
while
8:38
and
8:39
thought
8:39
about
8:39
this
8:39
a
8:39
bit,
8:40
you
8:41
walk
8:41
around
8:41
the
8:41
Amazon
8:41
Fresh
8:42
format
8:42
and
8:43
yeah,
8:43
there's
8:43
some
8:43
interesting
8:44
bells
8:44
and
8:44
whistles,
8:44
but
8:45
like,
8:45
the
8:45
floor
8:45
space
8:46
isn't
8:46
really
8:46
super
8:47
optimized.
8:48
You
8:48
know,
8:48
the
8:48
offering.
8:49
Yeah,
8:49
there's
8:49
a
8:49
lot
8:49
of
8:49
brands
8:50
here,
8:50
but
8:50
then
8:50
this
8:50
other
8:51
part
8:51
of
8:51
the
8:51
aisle
8:51
is
8:51
kind
8:51
of
8:52
tight.
8:52
I'm
8:53
not
8:53
sure
8:53
they
8:53
had
8:53
a
8:54
super
8:54
clear
8:55
value
8:55
proposition
8:56
other
8:56
than.
8:56
Right.
8:58
More
8:58
affordable
8:58
prices
8:58
because
8:59
it's
8:59
Amazon,
8:59
so
8:59
I
8:59
always
9:00
get
9:00
the
9:00
best
9:00
price.
9:01
And
9:02
you
9:02
know,
9:02
there
9:02
are
9:02
going
9:02
to
9:02
be
9:02
some
9:03
cool
9:03
features
9:04
as
9:05
the
9:05
cart.
9:05
You
9:05
know,
9:05
there's
9:05
gonna
9:06
be
9:06
a
9:06
cool
9:06
dashboard
9:06
on
9:06
my
9:07
cart
9:07
and
9:07
I
9:07
can
9:07
scan
9:08
things
9:08
and
9:08
all
9:08
this
9:09
and
9:09
that.
9:09
But
9:09
it
9:09
just,
9:10
it
9:10
was
9:10
never
9:10
quite
9:10
a
9:10
cohesive,
9:11
kind
9:12
of
9:12
shiny
9:12
experience,
9:13
if
9:13
that
9:13
makes
9:13
any
9:13
sense.
9:14
Yeah,
9:14
absolutely
9:15
does.
9:15
And
9:15
I
9:15
think
9:16
tells.
9:17
And
9:17
further,
9:18
I
9:18
think
9:18
justifies
9:19
what
9:19
you
9:19
were
9:19
saying
9:19
earlier
9:19
about,
9:20
you
9:20
know,
9:20
eliminating
9:21
things
9:21
like
9:21
palm
9:22
payment
9:22
that
9:22
were
9:23
really
9:23
the,
9:23
like
9:24
that's
9:24
the
9:24
driver
9:25
is
9:25
the
9:25
technology
9:26
and
9:26
the
9:26
convenience
9:27
that
9:27
you
9:27
get
9:27
with
9:27
some
9:27
of
9:27
the.
9:29
In
9:29
some
9:29
of
9:30
these
9:30
Amazon
9:30
stores.
9:31
All
9:32
right.
9:32
I
9:32
want
9:32
to
9:33
Hear
9:33
what
9:33
you
9:33
have
9:33
to
9:33
say.
9:33
Ken,
9:34
what
9:34
are,
9:34
what's
9:34
your
9:35
perspective
9:35
on
9:35
this?
9:35
Are
9:36
you,
9:36
which
9:36
do
9:36
you
9:36
think
9:37
is
9:37
the
9:37
bigger
9:37
story?
9:37
Is
9:37
it
9:38
more
9:38
eliminating
9:39
some
9:39
of
9:39
that
9:40
technology
9:40
or
9:41
is
9:41
it
9:41
closing
9:41
the
9:42
Fresh
9:42
and
9:42
go
9:42
stores?
9:44
I
9:44
think
9:44
it's
9:44
closing
9:45
the
9:45
fresh
9:45
and
9:45
grow
9:45
stores.
9:46
Just
9:46
the
9:46
Palm
9:47
technology
9:47
is,
9:48
is
9:48
interesting,
9:49
but
9:49
it's
9:49
kind
9:49
of
9:49
to
9:50
me
9:50
you
9:50
take
9:50
the
9:51
combination
9:51
of
9:51
who
9:51
fresh
9:52
might
9:52
have
9:52
been
9:52
targeting,
9:53
which
9:53
is
9:54
a
9:54
younger
9:54
consumer
9:55
that's
9:55
a
9:55
little
9:55
bit
9:56
more
9:56
technology
9:56
enabled
9:57
to
9:57
be
9:57
cool.
9:58
But
9:58
that's
9:59
going
9:59
to
9:59
come
9:59
into
9:59
the
9:59
next
9:59
question
10:00
we're
10:00
going
10:00
to
10:00
talk
10:00
of
10:01
in
10:01
today's
10:01
session
10:02
about
10:02
the
10:02
growth
10:02
of
10:03
grocery
10:04
E
10:04
commerce.
10:04
Those
10:05
targeted
10:05
customers
10:06
might
10:06
be
10:06
the
10:06
exact
10:07
same
10:07
people
10:07
that
10:07
are
10:07
ordering
10:08
everything
10:08
online
10:09
and
10:09
want
10:09
to
10:09
deal
10:09
with
10:10
that
10:10
technology.
10:10
Whereas
10:11
potentially
10:12
the
10:12
order
10:12
demographic
10:13
may
10:13
be
10:13
less
10:14
interested
10:14
in
10:14
some
10:14
of
10:14
the
10:15
technology
10:15
that's
10:15
in
10:15
these
10:15
stores.
10:16
And
10:17
quite
10:17
candidly,
10:19
you
10:19
know,
10:19
where
10:19
do
10:19
you
10:19
go
10:20
today
10:20
without
10:20
your
10:20
phone?
10:21
Do
10:21
I
10:22
really
10:22
want
10:22
to
10:22
register
10:23
my
10:23
credit
10:23
cards
10:23
with
10:24
yet
10:24
another
10:25
recognition
10:26
technology?
10:27
Probably
10:28
not.
10:28
And
10:29
you
10:29
know,
10:29
and
10:30
if
10:30
you
10:30
think
10:30
about
10:30
a
10:30
younger
10:31
demographic,
10:31
they
10:31
don't
10:32
leave
10:32
their
10:32
phone
10:32
for
10:32
more
10:33
than
10:33
a
10:33
hot
10:33
second.
10:33
And
10:34
so
10:34
you've
10:34
got
10:35
all
10:35
your
10:35
payment
10:35
capabilities
10:36
there.
10:36
Right?
10:36
And
10:38
why
10:38
bother
10:38
with
10:38
the
10:39
palm
10:39
reader
10:40
capability?
10:41
Yeah,
10:42
I
10:43
agree
10:43
with
10:43
you
10:43
too,
10:44
Ken.
10:44
I
10:44
think
10:44
that's,
10:45
you
10:45
know,
10:45
I
10:45
did,
10:46
I
10:46
loved
10:47
the
10:47
Palm
10:47
pay,
10:47
but
10:48
I
10:48
totally
10:49
agree
10:49
there's,
10:49
there's
10:50
really
10:50
rare,
10:51
rarely
10:51
is
10:51
there
10:52
a
10:52
moment
10:52
where
10:52
I
10:52
don't
10:53
have
10:53
my
10:53
phone
10:53
with
10:53
me
10:54
that
10:54
I
10:54
can,
10:54
you
10:55
know,
10:55
very
10:55
quickly
10:56
tap
10:56
to
10:56
pay
10:56
or
10:57
use,
10:57
you
10:57
know,
10:58
the,
10:58
the
10:59
functions
10:59
on
10:59
my
10:59
card
11:00
to
11:00
quickly
11:00
scan
11:01
through.
11:02
I'm
11:03
curious
11:03
what
11:03
your
11:03
thoughts
11:04
are
11:04
about,
11:05
you
11:05
know,
11:05
what
11:05
this
11:06
means
11:06
for
11:06
Amazon,
11:07
like
11:07
talking
11:07
about
11:07
the
11:08
conversion
11:08
to
11:09
a
11:09
Whole
11:09
Foods
11:10
concept.
11:11
And
11:11
I
11:12
think,
11:12
you
11:12
know,
11:13
also
11:13
what
11:13
John,
11:13
you
11:14
brought
11:14
in
11:14
about
11:14
price
11:15
point
11:15
and
11:15
like
11:15
you
11:16
shopped
11:16
Amazon
11:16
because
11:17
the
11:17
price
11:17
point
11:17
was
11:18
competitive.
11:19
I,
11:19
I
11:20
actually
11:20
think
11:20
this
11:20
could
11:21
be
11:21
a
11:21
really
11:21
interesting
11:22
move
11:22
for
11:22
Whole
11:22
Foods
11:23
to
11:23
further
11:23
position
11:24
it
11:24
as
11:24
like
11:25
the
11:25
low
11:26
price
11:26
leader
11:26
when
11:27
it
11:27
comes
11:27
to
11:28
higher
11:28
quality
11:29
produce
11:30
and
11:30
ingredients
11:31
and
11:31
better
11:32
food
11:33
than
11:33
some
11:33
of
11:33
the
11:33
competitors
11:34
like
11:34
maybe
11:34
the
11:34
Trader
11:35
Joe's
11:35
or
11:35
the
11:36
Sprouts
11:36
that
11:36
are
11:36
starting
11:37
to
11:37
gain
11:37
in
11:38
popularity,
11:39
especially
11:39
with
11:40
a
11:40
nation
11:40
that's,
11:41
you
11:41
know,
11:41
increasingly
11:42
using
11:42
GLP1s
11:43
and
11:43
is
11:43
looking
11:43
for
11:43
these
11:44
fresh
11:44
offerings.
11:45
I'm
11:46
curious
11:46
your
11:46
thoughts
11:47
on
11:47
whether
11:47
or
11:47
not
11:47
like
11:47
I
11:48
think
11:48
the
11:48
bigger
11:48
headline
11:49
here
11:49
is
11:49
definitely
11:49
the
11:50
closing
11:50
of
11:50
the
11:50
fresh
11:50
stores
11:51
and
11:51
the
11:51
conversion
11:52
to
11:52
Whole
11:52
Foods
11:53
because
11:53
I
11:54
think
11:54
that
11:54
Amazon
11:55
stands
11:55
to
11:56
get
11:56
really
11:57
competitive
11:57
if
11:58
they
11:58
can
11:58
bring
11:58
the
11:59
scale
11:59
of
11:59
Amazon
12:00
to
12:00
a
12:01
Whole
12:01
Foods
12:01
location.
12:02
So
12:03
curious
12:03
Chris,
12:03
to
12:04
hear
12:04
maybe
12:04
wrap
12:05
us
12:05
up
12:05
here
12:05
with
12:05
your
12:06
thoughts
12:06
on,
12:06
on
12:06
bigger
12:07
headline.
12:07
And
12:08
if
12:08
you
12:08
think
12:09
there's
12:09
an
12:09
opportunity
12:10
here
12:10
for
12:10
Amazon
12:11
to
12:11
really
12:12
take
12:12
Whole
12:12
Foods
12:13
and
12:13
make
12:13
it
12:14
attainable
12:14
or
12:15
something
12:16
that
12:16
more
12:16
people
12:16
could
12:17
shop
12:17
at.
12:18
Wow,
12:18
that's,
12:19
that's
12:19
kind
12:19
of
12:19
a
12:19
different
12:19
tangent
12:20
to,
12:20
to
12:20
what
12:21
we
12:21
were
12:21
discussing
12:21
previously.
12:22
You
12:22
know,
12:22
to
12:23
get
12:23
back
12:23
to
12:23
the
12:23
question
12:23
at
12:24
hand,
12:24
I
12:24
mean,
12:25
disagree
12:25
with
12:25
Ken
12:25
a
12:26
little
12:26
bit.
12:26
And
12:26
I
12:26
think,
12:27
you
12:28
know,
12:28
from
12:28
my
12:28
perspective,
12:29
I
12:29
think
12:29
if
12:29
you
12:29
take
12:30
Amazon
12:30
out
12:30
of
12:30
this
12:31
question,
12:32
you
12:33
know,
12:34
there's
12:34
a
12:34
new
12:35
entry
12:35
into
12:35
grocery
12:36
in
12:36
the
12:36
US
12:36
market.
12:36
It
12:37
didn't
12:37
work.
12:37
We've
12:37
seen
12:38
that
12:38
before,
12:38
We've
12:38
seen
12:38
that
12:39
lots
12:39
of
12:39
times.
12:39
But
12:40
when
12:40
you
12:40
think
12:40
about
12:40
it
12:40
from
12:40
the
12:40
perspective
12:41
of
12:42
someone
12:42
just
12:42
tried
12:43
biometric
12:43
payments
12:44
and
12:44
Ken,
12:44
the
12:44
part
12:44
I
12:44
agree
12:45
with,
12:45
what
12:45
in
12:45
terms
12:45
of
12:46
what
12:46
you
12:46
said
12:46
is
12:46
like,
12:46
yeah,
12:47
there's
12:47
just
12:47
no
12:47
utility
12:48
in
12:48
it
12:48
and
12:48
so
12:48
we
12:49
don't
12:49
need
12:49
it.
12:49
And
12:49
so
12:50
a
12:50
company
12:50
with
12:50
like
12:50
Amazon
12:51
can't
12:52
make
12:52
a
12:52
technology
12:52
like
12:53
that
12:53
work.
12:54
And
12:54
I
12:54
think
12:54
that's
12:55
pretty
12:55
telling,
12:56
like
12:56
in
12:56
terms
12:56
of
12:56
where
12:57
does
12:57
the
12:57
future
12:57
go
12:57
in
12:58
terms
12:58
of
12:58
biometrics
12:59
versus
12:59
where
13:00
does
13:00
the
13:00
future
13:00
grow
13:00
and
13:00
go
13:01
in
13:01
grocery?
13:01
Because
13:01
I
13:01
think
13:02
we
13:02
all
13:02
kind
13:02
of
13:02
expected
13:03
them
13:03
to
13:03
shut
13:03
these
13:04
stores
13:04
down.
13:04
Which
13:05
gets
13:05
to
13:05
your
13:05
point.
13:05
And
13:06
back
13:06
to
13:06
your
13:06
other
13:06
question
13:06
on
13:07
the
13:07
tangent
13:07
is,
13:08
is
13:08
what
13:09
do
13:09
they
13:09
do
13:09
with
13:09
Whole
13:09
Foods?
13:10
I
13:10
don't,
13:11
I
13:11
don't
13:11
know
13:11
what
13:11
they're
13:11
going
13:11
to
13:12
do
13:12
with
13:12
Whole
13:12
Foods.
13:12
I
13:12
mean,
13:12
I
13:13
think
13:13
you
13:13
could
13:13
potentially
13:14
take
13:14
the
13:14
prices
13:14
down,
13:14
but
13:15
those
13:15
prices
13:15
are
13:15
that
13:16
way
13:16
for
13:16
a
13:16
reason
13:16
because
13:17
they
13:17
don't
13:17
have
13:18
as
13:18
large
13:18
of
13:18
distribution
13:19
as
13:19
they
13:19
do
13:20
throughout
13:20
the
13:20
national
13:21
grocery
13:21
chain.
13:22
So
13:22
I
13:22
think
13:22
you're
13:23
in
13:23
kind
13:23
of
13:23
a,
13:23
they're
13:24
in
13:24
a
13:24
tight
13:24
spot
13:24
here
13:25
in
13:25
which.
13:25
But
13:25
that's
13:26
why
13:26
I
13:26
think
13:26
the
13:26
next
13:26
headline
13:27
is
13:27
really
13:27
important
13:27
too,
13:28
which
13:28
Ken
13:28
alluded
13:28
to
13:29
as
13:29
well,
13:29
which
13:29
is
13:29
the
13:30
increasing
13:31
the
13:31
increase
13:32
in
13:32
grocery
13:32
E
13:32
Commerce
13:33
penetration
13:33
and
13:34
Amazon's
13:35
hand
13:35
at
13:35
that.
13:36
So
13:36
let's
13:36
get
13:36
to
13:36
the
13:37
next
13:37
headline.
13:37
Headline
13:38
number
13:38
two.
13:38
Grocery
13:39
E
13:39
Commerce
13:39
hit
13:39
a
13:40
slew
13:40
of
13:40
record
13:40
highs
13:41
in
13:41
2025,
13:42
including
13:42
19%
13:43
penetration
13:45
in
13:45
December,
13:45
according
13:46
to
13:46
Grocery
13:46
Dive.
13:47
Nearly
13:47
every
13:47
month
13:48
in
13:48
2025
13:49
saw
13:49
year
13:49
over
13:49
year
13:49
growth
13:50
in
13:50
E
13:50
grocery
13:50
sales.
13:51
And
13:51
December
13:52
was
13:52
no
13:52
exception,
13:53
with
13:53
sales
13:53
surging
13:53
to
13:53
a
13:54
record
13:54
$12.7
13:55
billion,
13:56
which
13:56
was
13:56
up
13:57
32%
13:58
year
13:58
over
13:58
year.
13:59
The
13:59
final
13:59
month
14:00
of
14:00
2025
14:01
also
14:01
saw
14:01
the
14:01
online
14:02
share
14:02
of
14:02
total
14:02
grocery
14:03
spending
14:03
reach
14:04
19%,
14:04
up
14:05
430
14:05
basis
14:06
points
14:06
year
14:06
over
14:06
year
14:07
as
14:07
order
14:08
frequency
14:08
rates
14:08
increased.
14:09
All
14:09
of
14:09
which
14:09
comes
14:10
from
14:10
Brick
14:10
meets
14:11
Click's
14:11
most
14:11
recent
14:12
monthly
14:13
findings.
14:13
And
14:13
those
14:13
guys
14:14
I
14:14
met,
14:14
I
14:15
met
14:15
Their,
14:16
their
14:16
head
14:16
the
14:16
other
14:16
day
14:17
and,
14:17
and
14:17
those
14:18
guys
14:18
are
14:18
just
14:18
smoking
14:18
it.
14:18
With
14:19
these
14:19
monthly
14:19
reports,
14:20
Amazon
14:20
appears
14:20
to
14:21
be
14:21
having
14:21
an
14:21
impact
14:21
to
14:22
Amazon's
14:22
grocery
14:22
delivery.
14:23
As
14:23
we
14:23
just
14:23
alluded
14:24
to,
14:25
Amazon's
14:25
grocery
14:26
delivery
14:26
offering
14:26
bolstered
14:27
ship
14:27
to
14:27
homes
14:28
performance.
14:28
In
14:28
December,
14:29
the
14:29
segment's
14:29
order
14:30
average
14:30
order
14:30
value
14:31
grew
14:31
14%
14:32
exceeding
14:33
delivery
14:33
and
14:33
pickup
14:34
because
14:34
of
14:34
Amazon's
14:35
same
14:35
day
14:36
fresh
14:36
grocery
14:37
delivery
14:38
again
14:38
according
14:38
to
14:38
Brick
14:39
meets
14:39
Click.
14:40
Ken,
14:40
my
14:40
question
14:40
to
14:41
you.
14:41
19%
14:41
E
14:42
Commerce
14:42
Grocery
14:42
penetration
14:43
has
14:43
kind
14:44
of,
14:44
dare
14:45
I
14:45
say
14:45
it
14:45
snuck
14:46
up
14:46
on
14:46
us
14:46
rather
14:46
quickly
14:47
in
14:47
my
14:47
opinion.
14:48
How
14:48
should
14:48
regional
14:49
grocers
14:49
respond
14:50
to
14:50
this
14:50
news?
14:51
I
14:51
think
14:51
they
14:52
definitely
14:52
have
14:52
to,
14:52
they
14:52
have
14:53
to
14:53
be
14:53
in
14:53
the
14:53
game.
14:53
They've
14:54
got
14:54
to
14:54
have
14:54
a
14:54
good
14:54
app,
14:55
a
14:55
good
14:55
shopping
14:55
shopability
14:56
solution.
14:57
They've
14:57
got
14:57
to
14:58
figure
14:58
out
14:58
how
14:58
to
14:58
do
14:59
home
14:59
delivery.
15:01
I
15:01
give
15:01
all
15:01
the
15:01
people
15:02
that
15:02
I
15:02
work
15:02
with
15:02
a
15:02
hard
15:02
time
15:02
because
15:03
they
15:03
tend
15:03
to
15:03
be
15:03
a
15:03
lot
15:03
younger
15:04
than
15:04
I
15:04
am.
15:04
I,
15:04
I
15:05
can't
15:05
imagine
15:05
somebody
15:06
else
15:06
picking
15:06
out
15:06
my
15:06
avocado
15:07
for
15:07
me
15:07
because
15:08
I
15:08
want
15:08
to
15:08
see
15:08
that
15:08
it
15:08
has
15:09
exactly
15:09
the
15:09
right
15:10
ripeness
15:10
or
15:10
the
15:11
right
15:11
feel
15:11
or
15:12
picking
15:12
out
15:12
my
15:12
bananas.
15:13
I
15:13
don't
15:13
do
15:13
green
15:13
bananas,
15:14
you
15:14
know,
15:14
but
15:15
you
15:15
know,
15:15
I
15:16
guess
15:16
other
15:16
people
15:16
can
15:16
get
15:16
over
15:17
those
15:17
critical
15:17
issues
15:17
in
15:18
life
15:18
and
15:18
figure
15:18
out
15:18
that
15:19
someone
15:19
else
15:19
can
15:19
pick
15:19
them
15:20
out
15:20
for
15:20
them.
15:20
But
15:20
I,
15:21
I,
15:21
I
15:21
think
15:22
the
15:22
regionals
15:22
will
15:22
figure
15:23
this
15:23
out.
15:23
I
15:23
think
15:23
assortment
15:24
still
15:24
wins
15:24
the
15:25
day
15:25
for
15:25
a
15:25
lot
15:25
of
15:25
people
15:26
because
15:26
you
15:27
know,
15:27
the
15:27
better
15:28
stores
15:28
have
15:28
a
15:29
better
15:29
assortment,
15:29
they
15:29
have
15:30
a
15:30
finer
15:30
quality
15:30
of
15:31
product
15:31
and
15:31
so
15:32
they'll
15:32
always
15:32
be
15:33
those
15:33
consumers
15:34
that
15:34
want
15:34
to
15:34
go
15:34
to
15:35
that
15:35
local,
15:35
regional
15:36
place,
15:36
regional
15:37
location
15:37
with
15:38
a
15:38
better
15:38
assortment.
15:39
But
15:40
you
15:41
know,
15:41
I
15:41
think
15:41
it's
15:41
going
15:41
to
15:41
be
15:42
really
15:42
critical
15:42
how
15:42
all
15:42
this
15:43
works
15:43
out
15:43
because
15:44
you
15:44
probably
15:44
have
15:45
seen
15:45
in
15:45
the
15:45
press
15:45
Kroger's
15:46
massive
15:46
failure
15:47
with
15:47
Ocado,
15:48
their
15:48
distribution
15:49
centers
15:49
that
15:49
they
15:50
try
15:50
to
15:50
put
15:51
in
15:51
place,
15:52
you
15:52
know,
15:52
$2.6
15:53
billion
15:54
of,
15:54
of
15:54
impairment
15:55
taken
15:55
in
15:55
those
15:55
scenarios.
15:56
And
15:57
so
15:57
it's,
15:57
it's
15:58
always
15:58
a
15:58
challenge
15:59
how
15:59
you're
15:59
going
15:59
to
15:59
manage
16:00
fresh
16:00
delivery
16:01
in
16:01
the
16:01
most
16:01
time
16:01
effective
16:02
way.
16:03
But
16:03
you
16:04
know,
16:04
the
16:04
consumer
16:04
behaviors
16:05
are
16:05
changing
16:05
and
16:05
more
16:05
and
16:06
more
16:06
people
16:06
don't
16:06
want
16:06
to
16:06
get
16:06
out
16:06
of
16:07
their
16:07
house.
16:08
Personal
16:08
level
16:09
bugs
16:09
me
16:09
because
16:09
we
16:09
got
16:09
to
16:10
get
16:10
people
16:10
out
16:10
of
16:10
their
16:10
houses.
16:11
But
16:11
I
16:12
guess
16:12
those
16:12
folks
16:12
don't
16:13
really
16:13
care
16:13
about
16:13
leaving
16:13
their
16:14
house
16:14
and
16:14
they're
16:14
happy
16:14
to
16:14
stay
16:14
at
16:15
home
16:15
and
16:15
have
16:15
somebody
16:15
else
16:15
do
16:16
everything
16:16
for
16:16
them.
16:17
Yeah,
16:17
and
16:18
there's
16:18
two,
16:18
there's
16:18
two
16:18
points
16:19
that
16:19
come
16:19
to
16:19
mind
16:19
for
16:19
me
16:19
on
16:19
this,
16:20
ken
16:20
too
16:20
is
16:20
1,
16:20
is
16:21
1,
16:21
is
16:21
20%
16:22
has
16:22
always
16:22
historically
16:23
been
16:23
the
16:23
Inflection
16:24
point
16:24
where
16:24
we
16:24
start
16:24
to
16:25
see
16:25
bankruptcies
16:25
through
16:26
the
16:26
industry.
16:27
And
16:27
so
16:27
you
16:27
know
16:28
that
16:28
also
16:29
to
16:29
me
16:29
the
16:29
second
16:29
point
16:30
brings
16:30
up
16:30
the
16:30
death
16:30
by
16:30
a
16:31
thousand
16:31
cuts
16:31
because
16:31
grocery
16:32
isn't
16:32
all
16:32
just
16:33
fresh
16:33
produce
16:34
either.
16:34
Right.
16:35
And
16:35
there's
16:35
a,
16:35
and
16:35
especially
16:36
as
16:36
Amazon
16:36
categorizes
16:37
it,
16:37
there's
16:37
a
16:37
lot
16:38
of
16:38
other
16:38
items
16:38
which
16:39
you
16:39
know,
16:39
probably
16:40
helped
16:40
the
16:40
margins
16:40
in
16:41
to
16:41
some
16:41
degree
16:42
too.
16:42
So
16:42
you
16:43
know,
16:43
how
16:43
do
16:43
you,
16:44
how
16:44
do
16:44
you
16:44
think
16:45
about
16:45
that
16:45
in
16:45
terms
16:46
of
16:46
what
16:46
they
16:46
need
16:47
to
16:47
do
16:47
to
16:47
defend
16:47
themselves
16:48
against
16:48
this
16:48
if
16:49
some
16:49
of
16:49
their
16:49
basket
16:50
they
16:50
traditionally
16:51
get
16:51
from
16:51
the
16:51
store
16:52
trip
16:52
starts
16:52
to
16:52
decline?
16:54
Yeah,
16:55
I
16:55
mean
16:55
this
16:55
is
16:56
the
16:56
challenge
16:56
that
16:56
Amazon
16:57
is
16:57
presenting
16:57
to
16:57
so
16:57
many
16:58
companies
16:58
because
16:59
at
16:59
the
16:59
end
16:59
of
16:59
the
16:59
day
17:00
the
17:00
possibility
17:01
of
17:01
me
17:01
ordering
17:02
raspberries
17:02
online
17:03
because
17:03
how
17:03
many
17:03
times
17:04
have
17:04
you
17:04
gotten
17:04
your
17:04
raspberries
17:05
home
17:05
and
17:05
they
17:05
have,
17:06
they
17:06
have
17:06
mold
17:06
on
17:06
them.
17:07
Well,
17:07
I'm
17:07
not
17:07
going
17:08
to
17:08
do
17:08
it.
17:09
But
17:09
the
17:09
trick
17:09
becomes
17:10
is
17:10
when
17:10
all
17:11
of
17:11
a
17:11
sudden
17:11
I
17:11
can't
17:12
use
17:12
my
17:12
local
17:12
grocer
17:13
just
17:13
as
17:13
a
17:13
raspberry
17:14
pickup
17:14
point
17:14
because
17:15
he's
17:15
not
17:15
going
17:15
to
17:16
stay
17:16
in
17:16
business
17:16
that
17:16
way.
17:17
So
17:17
it's
17:18
this
17:18
cannibalization
17:19
question
17:19
and
17:20
the
17:20
consumers
17:21
don't
17:21
appreciate
17:22
the
17:22
impact
17:23
of
17:23
what
17:23
this
17:24
is
17:24
doing
17:24
on
17:24
the
17:25
cannibalization
17:25
front
17:26
because
17:27
those
17:27
grocers
17:28
need
17:28
more
17:28
volume
17:29
to
17:29
stay
17:29
in
17:29
business
17:29
and
17:30
they
17:30
can't
17:30
just
17:30
be,
17:31
to
17:31
use
17:31
my
17:31
overused
17:32
analogy,
17:32
the
17:32
raspberry
17:33
pickup
17:33
point.
17:33
So
17:34
that
17:34
we've
17:34
got
17:34
to
17:34
figure
17:35
this
17:35
out
17:35
and
17:36
it's
17:37
how
17:37
they
17:37
message
17:37
and
17:38
how
17:38
they
17:38
keep
17:38
their
17:39
assortment
17:39
message
17:40
out
17:40
there.
17:40
And
17:41
the
17:41
key
17:41
thing
17:41
is
17:42
figure
17:42
out
17:42
how
17:43
to
17:43
offer
17:43
same
17:43
day
17:44
delivery.
17:44
There's
17:44
a
17:44
lot
17:45
of
17:45
cool
17:45
technology
17:45
companies
17:46
out
17:46
there
17:46
that
17:46
are
17:47
trying
17:47
to
17:47
be
17:47
the
17:47
anti
17:48
Amazon
17:48
and
17:49
deliver
17:49
real
17:50
time
17:50
or
17:51
excuse
17:51
me,
17:51
very
17:52
rapid
17:52
pickup
17:53
solutions.
17:53
And
17:54
the
17:54
grocery
17:54
guys
17:54
now
17:55
don't
17:55
have
17:55
to
17:55
develop
17:55
all
17:56
that
17:56
tech.
17:56
They
17:56
can
17:56
find
17:56
partners
17:57
that
17:57
provide
17:57
it
17:57
it
17:58
and
17:58
that's
17:58
what
17:58
they
17:58
should
17:59
be
17:59
doing.
18:00
Yep.
18:00
Yeah,
18:01
I'm
18:01
curious
18:01
too,
18:01
John.
18:02
I
18:02
want
18:02
to
18:02
bring
18:02
you
18:02
into
18:02
this
18:02
conversation
18:03
too
18:03
because
18:04
I
18:04
tend
18:04
to
18:05
agree
18:05
with
18:05
what
18:05
you
18:05
just
18:05
said
18:06
there,
18:06
Ken.
18:06
Like
18:06
it's
18:06
not
18:06
going
18:07
to
18:07
be
18:07
an
18:07
easy
18:07
battle
18:07
and
18:08
I
18:08
love
18:08
you
18:08
don't
18:08
want
18:08
to
18:08
be
18:08
the
18:09
raspberry
18:09
pickup
18:09
spot.
18:10
I
18:10
think
18:10
I
18:10
might
18:10
borrow
18:11
that
18:11
and
18:11
steal
18:11
that
18:11
in
18:11
the
18:12
future
18:12
because
18:12
it's
18:12
really
18:13
true.
18:13
You
18:13
don't
18:13
want
18:14
to
18:14
be
18:14
that.
18:14
And
18:15
so
18:15
part
18:15
of
18:16
me
18:16
starts
18:16
to
18:16
say,
18:16
you
18:17
know
18:17
what,
18:17
maybe
18:17
it's
18:17
time
18:18
for
18:18
the
18:18
regional
18:18
grocers
18:18
to
18:19
get
18:19
out
18:19
and
18:19
harvest,
18:19
you
18:20
know,
18:20
sell
18:20
themselves,
18:21
be
18:21
acquired,
18:22
start
18:22
rolling
18:23
know.
18:23
John,
18:23
what
18:24
do
18:24
you
18:24
think
18:24
about
18:24
that
18:24
approach?
18:26
Yeah,
18:26
I
18:26
think
18:27
it's
18:27
definitely
18:28
a
18:28
possibility.
18:29
Right.
18:29
And
18:29
some
18:29
of
18:29
them
18:30
are
18:30
going
18:30
to
18:30
go
18:30
that
18:31
way.
18:31
Inevitably
18:32
there's
18:32
not
18:32
going
18:32
to
18:32
be
18:32
one
18:33
outcome.
18:33
Right.
18:34
Some
18:35
to
18:35
your
18:35
point,
18:35
are
18:36
maybe
18:37
not
18:37
going
18:37
to
18:37
make
18:37
it
18:37
all
18:37
the
18:38
way,
18:38
but
18:38
others
18:38
are
18:38
going
18:39
to
18:39
find
18:39
a
18:39
way
18:39
to
18:39
reinvent
18:40
themselves
18:40
and
18:40
double
18:40
down
18:40
on
18:41
things.
18:41
And
18:41
when
18:42
I
18:42
think
18:42
about
18:42
what
18:42
to
18:42
double
18:43
down
18:43
on,
18:43
if
18:43
I
18:43
can
18:44
expand
18:44
on
18:44
that
18:44
for
18:44
a
18:45
second.
18:46
Grocery,
18:47
let's
18:47
take
18:47
a
18:47
step
18:47
back.
18:48
Grocery
18:49
is
18:49
fundamentally
18:49
a
18:49
very
18:50
local,
18:51
you
18:51
know,
18:51
business.
18:51
Right?
18:52
I
18:52
mean,
18:52
how
18:52
far
18:52
will
18:53
somebody
18:53
travel
18:53
to
18:54
go
18:54
to
18:54
a
18:54
grocery
18:55
store?
18:55
About
18:55
10
18:55
minutes
18:55
or
18:56
so
18:56
drive
18:56
time.
18:56
Right.
18:57
So
18:57
you
18:57
have
18:57
a
18:57
very
18:57
fixed
18:58
radius.
18:58
Generally
18:59
it's
18:59
a
18:59
real
18:59
estate
19:00
game
19:00
where
19:00
you
19:00
put
19:00
that,
19:01
that
19:01
store
19:01
in
19:01
the
19:02
first
19:02
place.
19:02
So
19:03
if
19:03
you
19:03
take
19:03
that
19:03
thought
19:04
or
19:04
if
19:04
you
19:04
agree
19:04
to
19:04
that
19:05
assumption,
19:05
then
19:06
what
19:07
you
19:07
can
19:07
come
19:08
up
19:08
with
19:08
is
19:08
if
19:09
you're
19:09
a
19:09
regional
19:09
grocer,
19:10
you
19:10
don't
19:10
have
19:10
the
19:10
infrastructure,
19:11
the
19:11
dollars
19:12
to
19:12
invest
19:12
in,
19:12
let's
19:13
say
19:13
a
19:13
big
19:13
delivery
19:13
network.
19:14
And
19:14
having,
19:14
you
19:14
know,
19:15
those
19:15
Kroger
19:15
or
19:15
Walmart
19:16
trucks
19:17
going
19:17
down
19:17
the
19:17
road,
19:17
that's,
19:18
that's
19:18
just
19:18
not
19:18
going
19:18
to
19:18
be
19:18
realistic.
19:19
I
19:19
100%
19:19
agree
19:19
with
19:20
Ken's
19:20
point
19:20
that
19:21
hey,
19:22
invest
19:22
in
19:22
partners.
19:23
Instacart,
19:23
Doordash,
19:25
you
19:25
know,
19:25
don't
19:25
try
19:25
to
19:26
reinvent
19:26
your
19:26
own
19:26
app.
19:27
Don't
19:27
try
19:27
to
19:27
reinvent
19:27
a
19:28
delivery
19:28
network.
19:29
You're
19:29
going
19:29
to
19:29
pay
19:29
a
19:29
fee.
19:30
It
19:30
is
19:30
what
19:30
it
19:30
is.
19:31
But
19:31
it's
19:31
table
19:32
stakes.
19:32
If
19:32
you
19:33
don't
19:33
offer
19:33
curbside
19:34
pickup,
19:34
if
19:35
you
19:35
don't
19:35
have
19:35
an
19:35
app
19:35
to
19:36
download,
19:36
somebody
19:37
may
19:37
just
19:37
go
19:37
to
19:37
the
19:38
next
19:38
door
19:38
within
19:38
that
19:38
10
19:39
minute
19:39
drive
19:39
radius.
19:40
So
19:40
check
19:40
the
19:40
box
19:40
on
19:41
those
19:41
capabilities.
19:41
But
19:42
then
19:42
the
19:42
thing
19:42
you
19:42
double
19:42
down
19:43
on
19:43
is
19:44
local.
19:44
Be
19:44
local,
19:45
local,
19:45
local.
19:46
Invest
19:46
in
19:47
the
19:47
highest
19:48
quality
19:48
produce
19:48
at
19:49
a
19:49
reasonable
19:49
price.
19:50
Stock
19:50
the
19:51
items
19:51
that
19:51
maybe,
19:52
you
19:52
know,
19:52
the
19:52
different
19:52
ethnic
19:53
communities
19:53
in
19:53
your
19:54
area
19:55
might
19:55
be
19:55
interested
19:56
in
19:56
that
19:56
the
19:56
big
19:57
box
19:57
store
19:57
just
19:58
doesn't
19:58
quite
19:58
pay
19:58
attention.
19:59
Right.
19:59
And
19:59
that's
20:00
not
20:00
just
20:00
in
20:00
produce.
20:01
You
20:01
can
20:01
think
20:01
about
20:01
the
20:01
bread,
20:01
you
20:02
know,
20:02
bakery
20:02
section,
20:03
you
20:03
can
20:03
think
20:04
about
20:04
that
20:04
hot
20:04
buffet
20:04
area,
20:05
you
20:05
know,
20:06
for
20:06
ready,
20:06
ready
20:06
to
20:07
eat
20:07
meals.
20:08
Really
20:09
invest
20:09
in
20:09
understanding
20:10
that
20:10
10
20:11
minute
20:11
drive
20:11
radius.
20:12
Who
20:12
lives
20:12
there
20:12
and
20:13
how
20:13
do
20:13
you
20:13
scratch
20:14
their
20:14
itch
20:14
when
20:14
it
20:14
comes
20:14
to
20:15
grocery
20:15
beyond
20:16
corn
20:16
flakes
20:17
are
20:17
going
20:17
to
20:17
be
20:17
really
20:17
low
20:17
price
20:18
or
20:18
you're
20:19
going
20:19
to
20:19
get
20:19
a
20:19
Delivery
20:20
today
20:20
at
20:20
5pm
20:21
they
20:21
might
20:21
wait
20:22
until
20:22
tomorrow
20:22
because
20:23
you
20:23
have
20:24
a
20:24
handful
20:25
of
20:25
products
20:26
that
20:26
mean
20:27
a
20:27
lot
20:27
to
20:27
that
20:27
consumer
20:28
and
20:29
the
20:29
big
20:29
shop,
20:29
right.
20:30
Or
20:30
whoever.
20:30
Not
20:30
to
20:30
throw
20:31
out
20:31
random
20:31
names,
20:31
but
20:32
may
20:32
not
20:33
carry.
20:33
They
20:33
might
20:33
just
20:34
have
20:34
a
20:34
small
20:34
aisle
20:35
with
20:35
some
20:35
specialty
20:35
items.
20:36
I
20:36
think
20:36
that's
20:36
where
20:37
competitive
20:37
advantage
20:38
could
20:39
really
20:39
come
20:39
into
20:39
play.
20:39
And
20:40
the
20:40
big
20:40
guys
20:41
likely
20:41
just
20:41
don't
20:42
have
20:42
the
20:42
mind
20:42
share.
20:43
They're
20:43
operating
20:43
at
20:43
too
20:44
high
20:44
of
20:44
a
20:44
level
20:45
so
20:45
they're
20:45
going
20:45
to
20:45
miss
20:45
that
20:46
consumer
20:46
insight
20:46
and
20:46
it's
20:47
a
20:47
chance
20:47
to
20:47
create
20:48
an
20:48
advantage.
20:49
Yeah,
20:50
yeah.
20:50
Just
20:50
seems
20:50
really
20:51
hard
20:51
to
20:51
do
20:51
though
20:51
at
20:51
the
20:52
end
20:52
of
20:52
the
20:52
day.
20:52
Like
20:52
I
20:52
wonder
20:52
if
20:53
we're
20:53
not
20:53
sitting
20:53
here
20:53
looking,
20:53
you
20:54
know,
20:54
10
20:54
years
20:54
from
20:54
now
20:55
looking
20:55
at
20:55
the
20:55
circuit
20:55
Cities
20:56
of
20:56
the
20:56
world
20:56
and
20:56
the
20:57
Toys
20:57
R
20:57
Us
20:58
of
20:58
the
20:58
world
20:58
getting,
20:58
you
20:59
know,
20:59
getting
20:59
hit
20:59
by
20:59
this.
20:59
Yeah.
21:00
Ken,
21:00
you
21:00
want
21:00
to
21:01
add
21:01
something?
21:02
Yeah,
21:02
I
21:02
mean
21:02
it's
21:03
going
21:03
to
21:03
be
21:03
really,
21:03
this
21:04
is
21:04
always
21:04
interesting
21:04
to
21:04
me
21:04
because
21:05
I,
21:05
I,
21:05
you
21:05
can
21:06
see
21:06
it
21:06
already
21:06
happening
21:07
with
21:07
the
21:07
impact
21:07
of
21:07
Amazon
21:08
on
21:08
so
21:09
many
21:09
other
21:09
local
21:09
stores
21:10
and
21:10
chains
21:10
where
21:11
they're
21:11
just
21:11
really
21:11
facing
21:12
a
21:12
struggle
21:12
and
21:13
are
21:14
the,
21:14
the
21:15
consumer
21:16
doesn't
21:16
really
21:16
realize
21:17
what
21:17
they're
21:17
doing.
21:18
But
21:18
unfortunately
21:18
there,
21:19
there
21:19
can
21:19
be
21:20
a
21:20
day
21:21
in
21:21
our
21:21
future
21:22
where
21:22
these
21:22
stores
21:23
start
21:23
to
21:23
close
21:23
and
21:23
everybody
21:24
goes,
21:24
well,
21:24
what
21:24
happened
21:24
to
21:25
the
21:25
stores?
21:25
I'm
21:25
like,
21:25
well
21:26
you
21:26
bought
21:26
everything
21:27
from
21:28
Big
21:29
Brother
21:29
and
21:30
the
21:30
local
21:30
store
21:32
needed
21:32
to
21:32
sell
21:32
some
21:32
cornflakes
21:33
to
21:33
sell
21:33
the
21:33
raspberries.
21:34
You
21:34
know,
21:34
it's,
21:34
it's,
21:35
it'll
21:36
be
21:36
interesting
21:36
to
21:36
see
21:36
if
21:37
they're,
21:37
that
21:37
inflection
21:38
point
21:38
finally
21:39
starts
21:39
to
21:39
resonate
21:40
with
21:40
people.
21:40
I
21:40
doubt
21:40
it
21:40
will
21:41
because
21:42
I
21:42
don't
21:42
think
21:42
consumers
21:43
think
21:43
that
21:43
longer
21:44
term.
21:44
But
21:45
it
21:45
is
21:45
something
21:45
that
21:45
concerns
21:46
me
21:46
because
21:46
I
21:46
just
21:47
wonder,
21:47
you
21:47
know,
21:48
when,
21:48
when
21:48
we
21:48
lose
21:49
some
21:50
of
21:50
that
21:50
local
21:51
delivery
21:52
capability,
21:52
what
21:52
will
21:52
happen
21:53
to
21:53
us?
21:54
The
21:54
other
21:54
point
21:55
too
21:55
is
21:55
curbside
21:55
pickup
21:56
is
21:56
much
21:56
more
21:56
of
21:56
a
21:56
factor
21:57
in
21:57
these
21:57
numbers
21:58
than
21:58
it
21:58
was
21:58
historically
21:59
when
21:59
you
21:59
look
21:59
at
21:59
like
22:00
the
22:00
Toys
22:00
R
22:00
Us
22:00
and
22:01
the
22:01
electronics
22:01
impact.
22:02
So
22:02
that
22:02
could
22:03
be
22:03
one
22:03
thing
22:03
that
22:03
potentially
22:04
gives
22:04
them
22:04
some
22:05
benefit.
22:05
But
22:05
Ann,
22:05
you
22:06
get
22:06
the
22:06
last
22:06
word
22:06
here.
22:06
What
22:06
would
22:07
you
22:07
advise
22:08
the
22:08
regional
22:08
grocers
22:08
to
22:09
do
22:09
in
22:09
light
22:09
of
22:09
the
22:09
increasing
22:10
e
22:10
commerce
22:11
grocery
22:11
penetration
22:12
statistics?
22:13
Look,
22:13
I
22:13
think
22:13
it's
22:14
exactly
22:14
what
22:15
all
22:16
of
22:16
you
22:16
have
22:16
said.
22:17
You
22:17
have
22:17
to
22:18
have
22:18
a
22:19
culture
22:19
at
22:19
a
22:20
regional
22:20
grocer
22:20
that's
22:21
ready
22:21
to
22:21
invest
22:22
in
22:22
the
22:22
technology
22:22
partners.
22:23
They
22:23
are
22:23
not
22:24
technology
22:24
companies.
22:24
They
22:25
are
22:25
pillars
22:25
of
22:26
their
22:26
community.
22:26
And
22:26
the
22:27
way
22:27
that
22:27
they
22:27
stand
22:27
out
22:28
is
22:28
by
22:28
investing
22:29
in
22:29
being
22:29
that
22:30
place
22:30
that
22:31
their
22:31
community
22:31
goes
22:32
to
22:32
and
22:32
can
22:32
trust.
22:33
However,
22:34
the
22:35
shoppers
22:35
are
22:35
being
22:36
trained
22:36
to
22:36
expect
22:37
same
22:37
day
22:37
delivery
22:38
from,
22:38
from,
22:39
you
22:39
know,
22:39
Walmart
22:40
and
22:40
Amazon
22:40
and
22:41
all
22:41
these,
22:41
these
22:42
other
22:42
grocery
22:43
providers,
22:43
the
22:43
big
22:43
box
22:44
stores.
22:44
And
22:45
so
22:45
I
22:45
think
22:45
you
22:45
have
22:46
to
22:46
be
22:46
invested
22:46
in
22:47
how
22:47
can
22:47
I
22:47
make
22:48
my
22:48
operations
22:49
run
22:49
as
22:49
efficiently
22:50
as
22:50
possible
22:51
and
22:51
then
22:52
how
22:52
do
22:52
I
22:52
get
22:52
some
22:53
savings,
22:53
some
22:54
cost
22:54
savings
22:54
there
22:55
that
22:55
I
22:55
can
22:55
then
22:55
pass
22:56
on
22:56
to,
22:56
you
22:57
know,
22:57
investing
22:57
in
22:57
more,
22:59
you
22:59
know,
22:59
in,
23:00
in
23:00
these
23:00
delivery
23:01
platforms
23:01
or,
23:01
or
23:02
lowering
23:02
prices
23:03
for
23:03
my
23:03
loyalty
23:04
members
23:04
or
23:04
things
23:04
like
23:05
that.
23:05
I
23:05
think
23:05
it's
23:06
really
23:06
creating
23:07
a
23:07
cultural
23:07
shift
23:08
within
23:08
these
23:08
regionals
23:09
of
23:09
how
23:10
they're
23:10
going
23:10
to
23:10
approach
23:11
the
23:11
business
23:11
to
23:12
withstand
23:13
the
23:13
next
23:14
10
23:14
years
23:14
and
23:15
some
23:15
of
23:15
these
23:15
competitors.
23:16
But
23:16
I,
23:17
I
23:17
do
23:17
think
23:17
there's
23:17
still
23:18
a
23:18
place
23:18
for
23:18
regional
23:18
grocers
23:19
and
23:19
I
23:19
think
23:19
we
23:20
heard
23:20
that
23:20
loud
23:20
and
23:20
clear
23:21
at
23:21
FMI
23:21
a
23:21
couple
23:22
of
23:22
weeks
23:22
ago
23:22
from
23:22
Leideran
23:23
at
23:23
Lowe's
23:24
Foods,
23:24
from
23:24
Melissa
23:25
Vecchio
23:25
at
23:25
Fresh
23:25
Market,
23:26
from
23:26
the
23:26
Schnooks
23:27
team.
23:27
Like
23:28
everybody
23:29
there,
23:29
they,
23:29
they
23:30
are
23:30
still,
23:30
there's
23:30
still
23:31
a
23:31
place
23:31
for
23:31
that,
23:31
there's
23:32
still
23:32
a
23:33
reason
23:33
to
23:33
go
23:33
to
23:33
those
23:34
stores
23:34
because
23:34
they
23:35
invest
23:35
in
23:35
their
23:35
community.
23:36
So
23:36
I
23:36
think
23:36
that's
23:37
going
23:37
to
23:37
be
23:37
a
23:37
key
23:37
component
23:38
to
23:38
their
23:38
success
23:39
is
23:40
investing
23:40
in
23:40
technology
23:40
in
23:41
the
23:41
future
23:41
and
23:41
then
23:42
still
23:42
being
23:43
that
23:43
pillar,
23:43
that
23:44
destination,
23:45
that
23:45
trusted
23:46
resource
23:46
in
23:46
the
23:47
community
23:48
that
23:48
that's
23:48
focused
23:49
on
23:49
serving
23:49
their,
23:49
their
23:50
customers
23:50
with
23:50
the
23:50
best
23:51
price
23:51
possible
23:51
and
23:51
the
23:52
best,
23:52
best
23:52
quality
23:52
produce
23:53
possible
23:53
and,
23:54
and
23:54
food.
23:54
I
23:54
was
23:54
just
23:55
going
23:55
to
23:55
say
23:55
one
23:55
thing.
23:55
One
23:56
of
23:56
those
23:56
regional
23:57
stores
23:57
that
23:57
you
23:57
were
23:57
just
23:58
talking
23:58
about,
23:58
they
23:59
opened
23:59
a
23:59
beer
24:00
garden
24:00
in
24:00
their
24:01
store
24:01
and
24:02
I
24:02
was
24:02
like,
24:02
who
24:02
in
24:03
the
24:03
world's
24:03
gonna
24:03
go
24:04
drink
24:04
beer
24:05
at
24:05
the
24:05
grocery
24:05
store?
24:06
And
24:06
I
24:06
could
24:07
not
24:07
have
24:07
been
24:07
more
24:07
wrong.
24:08
There
24:08
are
24:09
like
24:09
Thursday
24:09
night,
24:10
the
24:10
grocery
24:10
store
24:11
has
24:11
become
24:11
the
24:11
social
24:12
hub.
24:12
People
24:13
go
24:13
hang
24:13
out
24:13
and
24:13
then
24:14
they
24:14
go
24:14
buy
24:14
groceries
24:14
drinking
24:15
beer.
24:15
And
24:16
I
24:16
just,
24:16
you
24:16
know,
24:17
that's
24:17
out
24:17
of
24:17
the
24:17
box
24:17
thinking
24:18
that
24:18
made
24:18
people
24:18
want
24:18
to
24:19
go
24:19
to
24:19
the
24:19
store
24:20
and
24:20
that's
24:20
how
24:20
some
24:20
of
24:20
these
24:20
regional
24:21
guys
24:21
will
24:21
pull
24:21
this
24:21
off.
24:22
It's
24:22
not,
24:22
it's
24:23
not
24:23
all
24:23
about
24:23
the
24:23
cheapest
24:24
price.
24:24
It's
24:24
about
24:24
an
24:24
experience
24:25
a
24:25
little
24:25
bit.
24:25
So
24:26
that's
24:26
one
24:26
way
24:26
you
24:26
can
24:26
reach
24:27
those
24:27
folks.
24:28
Yeah,
24:28
and
24:28
I
24:28
don't
24:28
necessarily
24:29
think
24:29
it's
24:29
about
24:29
tech
24:30
either.
24:30
I
24:30
think
24:30
what
24:30
I
24:30
would
24:30
say
24:31
is
24:31
instead
24:31
of
24:31
investing
24:32
in
24:32
tech
24:32
and
24:32
assuming
24:33
the
24:33
tech
24:33
is
24:33
table
24:33
stakes,
24:34
I'd
24:34
be
24:34
investing
24:34
in
24:35
what
24:35
brings
24:35
you
24:35
differentiation
24:36
in
24:36
the
24:36
marketplace.
24:37
That's
24:38
how
24:38
I'd
24:38
be
24:38
thinking
24:38
about
24:39
it
24:39
because
24:39
tech
24:39
can.
24:40
There's
24:40
been
24:40
a
24:40
lot
24:40
of
24:41
tech
24:41
investments
24:41
that
24:41
haven't
24:42
paid
24:42
off.
24:42
And
24:42
Trader
24:43
Joe's
24:43
is
24:43
a
24:43
great
24:43
example
24:44
of
24:44
somebody
24:44
that
24:44
is
24:44
not
24:44
a
24:45
very
24:45
tech
24:45
forward
24:45
retailer.
24:46
And
24:46
that
24:46
store
24:47
is
24:47
always
24:47
packed
24:47
because
24:48
they
24:48
know
24:48
how
24:48
to
24:48
differentiate
24:49
themselves.
24:50
All
24:50
right,
24:50
let's
24:50
go
24:50
to
24:50
headline
24:51
number
24:51
three.
24:51
Walmart
24:52
is
24:52
launching
24:53
a
24:53
new
24:53
cross
24:53
border
24:54
shipping
24:54
program
24:55
called
24:55
Walmart
24:55
Exports
24:56
for
24:56
its
24:56
third
24:57
party
24:57
marketplace
24:57
sellers.
24:58
According
24:58
to
24:59
supply
24:59
chain
24:59
Dive,
25:00
Walmart
25:00
Exports
25:01
will
25:01
allow
25:01
eligible
25:01
Walmart
25:02
fulfillment
25:02
services
25:03
items
25:04
to
25:04
be
25:04
shipped
25:05
from
25:05
the
25:05
US
25:05
to
25:06
shoppers
25:06
in
25:06
Mexico
25:07
and
25:07
Canada
25:07
with
25:08
additional
25:08
countries
25:09
to
25:09
be
25:09
added
25:09
over
25:10
time.
25:11
Eligible
25:11
products
25:11
will
25:12
be
25:12
automatically
25:12
enrolled
25:13
in
25:13
the
25:13
program
25:13
with
25:14
Walmart
25:14
handling
25:15
the
25:15
picking,
25:15
packing
25:16
and
25:16
shipping.
25:17
0
25:18
additional
25:18
friction
25:19
required
25:19
from
25:19
its
25:20
sellers.
25:20
Quote
25:21
Walmart
25:21
is
25:22
currently
25:22
testing
25:23
new
25:23
marketplace
25:24
capabilities
25:24
that
25:24
leverage
25:25
our
25:25
fulfillment
25:25
and
25:25
logistics
25:26
network
25:26
to
25:27
help
25:27
sellers
25:27
on
25:27
our
25:28
U.S.
25:28
marketplace
25:29
reach
25:29
customers
25:29
shopping
25:30
across
25:31
borders,
25:31
end
25:32
quote.
25:32
A
25:32
company
25:33
spokesperson
25:34
told
25:34
Supply
25:34
Chain
25:35
Dive.
25:35
Ken,
25:36
you,
25:37
you
25:37
are
25:37
the,
25:38
this,
25:38
this,
25:38
this
25:39
headline
25:39
was
25:39
written
25:40
for
25:40
you
25:41
to
25:41
answer,
25:41
so
25:41
we're
25:42
going
25:42
to
25:42
go
25:42
to
25:42
you
25:42
first.
25:43
Are
25:43
you
25:44
buying
25:44
or
25:44
selling
25:45
the
25:45
idea
25:46
of
25:46
Walmart
25:47
exports?
25:48
I
25:48
am
25:48
buying
25:49
in
25:49
bulk
25:50
on
25:50
this
25:50
idea.
25:50
Yeah,
25:51
me
25:51
too.
25:52
I'm
25:53
a
25:53
Walmart
25:53
buyer
25:54
in
25:54
bulk
25:54
on
25:54
this
25:55
particular
25:55
issue.
25:55
So
25:56
you
25:57
know,
25:57
I,
25:57
I
25:58
think
25:58
it's
25:58
a
25:58
great
25:58
idea.
25:59
I
25:59
think
25:59
that
26:00
Walmart
26:01
will,
26:02
they
26:02
may
26:02
require
26:02
a
26:03
little
26:03
bit
26:03
more
26:03
information
26:03
from
26:04
their
26:04
vendors
26:04
to
26:04
make
26:05
sure
26:05
they
26:05
have
26:05
all
26:05
the
26:05
information
26:05
that
26:06
they
26:06
require
26:06
to
26:06
be
26:07
compliant.
26:07
It's
26:08
up
26:08
to
26:08
the
26:08
vendors
26:08
to
26:09
make
26:09
sure
26:09
their
26:09
product
26:09
is
26:09
saleable
26:10
in
26:10
those
26:10
destination
26:11
markets.
26:12
But
26:12
it
26:12
is
26:13
absolutely
26:13
a
26:13
good
26:13
plan.
26:14
Walmart
26:15
has
26:15
scale
26:16
on
26:17
distribution
26:17
and
26:17
volume
26:18
and
26:18
this
26:18
is
26:18
a
26:19
great
26:19
answer
26:19
to
26:19
Amazon's
26:20
capabilities
26:21
and
26:21
it
26:21
makes
26:21
people
26:22
want
26:22
to
26:22
join
26:22
their,
26:23
their
26:24
marketplace.
26:25
So
26:25
I'm
26:25
absolutely
26:26
buying
26:26
on
26:27
Walmart
26:27
offering
26:28
this
26:28
capability.
26:29
Love
26:30
it.
26:30
Chris,
26:31
you
26:31
are,
26:31
you
26:32
are
26:32
gleefully
26:33
in,
26:33
in
26:34
unison
26:34
with
26:34
Ken.
26:35
It
26:35
sounds
26:35
like
26:35
why,
26:36
why
26:36
does
26:36
that,
26:38
why
26:38
does
26:38
that
26:38
emotion
26:39
come
26:39
to
26:39
be
26:39
for
26:40
you
26:40
when
26:40
we're
26:40
talking
26:41
about
26:41
Walmart
26:41
exports?
26:42
Oh,
26:42
oh,
26:43
I
26:43
mean,
26:43
yeah,
26:43
100%
26:44
agree
26:44
with
26:44
Ken.
26:44
I
26:44
love
26:44
how
26:45
he
26:45
said
26:45
it
26:45
again
26:45
too.
26:45
I
26:46
mean
26:46
there's
26:46
a
26:46
couple
26:46
of
26:46
reasons.
26:47
One,
26:47
you
26:47
know,
26:47
the
26:48
infrastructure,
26:48
what's
26:48
the
26:48
infrastructure
26:49
set
26:49
up,
26:49
which
26:49
essentially
26:50
it
26:50
is,
26:50
you
26:50
know,
26:50
once
26:50
you
26:51
do
26:51
it
26:51
once
26:51
it's
26:51
so
26:52
easy
26:52
to
26:52
rinse
26:52
and
26:52
repeat
26:53
this
26:53
for
26:53
scale
26:54
and
26:54
you
26:54
just
26:54
make
26:55
it
26:55
part
26:55
of
26:55
the
26:55
wfs,
26:56
the
26:56
Walmart
26:57
fulfillment
26:57
service
26:57
offering
26:58
from
26:58
now
26:58
going
26:58
forward.
26:59
So
26:59
it's
26:59
like
26:59
a
26:59
no
26:59
brainer.
27:00
But
27:00
then
27:00
the
27:00
other
27:01
part
27:01
about
27:01
it
27:01
that
27:01
I
27:02
like
27:02
is,
27:03
and
27:03
this
27:03
is
27:03
a
27:04
kind
27:04
of
27:04
a
27:04
new
27:04
wrinkle
27:04
to
27:05
discussion
27:05
is
27:05
we've,
27:06
we've
27:06
talked
27:07
about
27:07
marketplaces
27:07
and
27:07
retail
27:08
media
27:08
and
27:08
the
27:08
relationship
27:09
between
27:09
that
27:10
and
27:10
so
27:10
this
27:10
expands
27:11
the
27:11
reach
27:11
of
27:12
Walmart's
27:12
marketplace
27:13
for
27:13
Walmart
27:14
sellers
27:14
which
27:14
in
27:14
turn
27:15
means
27:15
more
27:15
retail
27:16
media
27:16
dollars
27:16
from
27:17
the
27:17
sellers
27:17
too.
27:17
And
27:18
retail
27:18
media
27:18
and
27:18
advertising
27:19
has
27:19
become
27:20
the
27:20
key
27:20
growth
27:21
vehicle
27:21
for
27:21
Walmart
27:22
which
27:22
for
27:22
those
27:23
paying
27:23
attention
27:23
just
27:23
became
27:24
a
27:24
trillion
27:24
dollar
27:25
company
27:25
yesterday.
27:26
On
27:26
the
27:26
back
27:27
of
27:27
said
27:27
advertising
27:28
business
27:28
increases.
27:29
So
27:30
it
27:30
just
27:30
makes
27:30
a
27:30
ton
27:30
of
27:31
sense.
27:31
And
27:32
yeah,
27:32
I
27:32
mean
27:33
and
27:33
I
27:33
think
27:33
you
27:33
have
27:34
to
27:34
look
27:34
at
27:34
the
27:34
new
27:34
appointments
27:35
that
27:35
Walmart
27:36
has
27:36
put
27:36
in
27:36
place
27:37
too
27:37
to
27:37
support
27:38
this
27:38
strategy.
27:38
You
27:39
have
27:39
David
27:39
Gugina
27:40
with
27:41
his
27:41
supply
27:41
chain
27:41
and
27:41
E
27:42
Com
27:42
know
27:42
how
27:42
running
27:43
the
27:43
show
27:43
now
27:44
for
27:44
for
27:44
the
27:44
US
27:45
Walmart
27:45
team.
27:46
Seth's
27:47
Dallier's
27:48
growth
27:49
and
27:49
marketplace
27:49
expansion
27:50
experience
27:50
and
27:50
then
27:50
Chris
27:51
Nicholas
27:51
is
27:51
bringing
27:52
bringing
27:52
in
27:52
his
27:52
financial
27:53
operations
27:54
and
27:55
the
27:55
know
27:55
how
27:56
to
27:56
kind
27:56
of
27:56
operate
27:57
this
27:57
from
27:57
an
27:57
international
27:58
perspective.
27:58
I
27:58
think
27:59
think
27:59
you
27:59
have
27:59
the
28:00
right
28:00
team
28:00
in
28:00
place
28:00
to
28:01
further
28:01
catapult
28:02
this
28:02
into
28:03
what
28:03
I
28:04
think
28:04
will
28:04
be
28:04
a
28:05
very
28:05
direct
28:06
direct
28:07
competitor
28:07
for
28:08
Amazon
28:08
sellers
28:09
and
28:09
for
28:10
the
28:10
fulfilled
28:10
by
28:10
Amazon
28:11
service.
28:11
But
28:12
John,
28:12
let's
28:13
have
28:13
you
28:13
close
28:13
us
28:13
out
28:14
here.
28:14
Any,
28:14
any
28:14
other
28:15
thoughts
28:15
on
28:16
our
28:17
what
28:17
seems
28:17
like
28:17
our
28:18
unanimous
28:18
decision
28:19
that
28:19
this
28:19
is
28:19
a
28:19
buy
28:20
for
28:21
Walmart
28:21
imports?
28:23
Well
28:23
I'm
28:24
not
28:24
to
28:24
be
28:24
the
28:25
the
28:25
Danny
28:25
Downer.
28:26
Oh
28:27
just
28:28
qualifier.
28:29
Just
28:30
a
28:30
bit
28:30
of
28:30
nuance
28:31
I
28:31
think.
28:31
Right.
28:31
Okay.
28:32
Headline
28:32
for
28:33
me
28:33
is
28:33
the
28:33
devil's
28:34
in
28:34
the
28:34
details.
28:35
And
28:35
as
28:36
you
28:36
just
28:36
covered
28:36
right.
28:37
They've
28:37
built
28:37
out
28:38
a
28:38
pretty
28:38
impressive
28:39
team
28:39
to
28:40
mind
28:40
those
28:41
details
28:41
and
28:42
make
28:42
sure
28:42
that
28:43
all
28:43
the
28:43
promise
28:44
that
28:44
I
28:44
think
28:44
we
28:44
are
28:44
aligned
28:45
on.
28:45
Right.
28:45
Anytime
28:45
you
28:46
can
28:46
expand
28:46
the
28:46
pie,
28:47
that's
28:47
a
28:47
good
28:47
thing.
28:49
But
28:50
if
28:50
it
28:50
was
28:50
so
28:51
easy
28:51
to
28:51
do
28:51
it
28:51
would
28:51
have
28:51
been
28:51
done
28:51
already.
28:52
So
28:53
the.
28:53
I
28:53
just.
28:54
That's
28:54
what
28:54
I
28:54
would
28:54
add
28:55
to
28:55
this
28:55
discussion
28:55
of.
28:55
Okay.
28:56
In
28:56
this
28:56
particularly
28:57
in
28:57
this
28:57
macroeconomic
28:58
environment
28:59
or
28:59
you
28:59
know,
29:00
administration
29:00
et
29:01
cetera
29:02
with
29:03
international
29:04
trade
29:04
dynamics
29:05
kind
29:05
of
29:05
changing
29:06
by
29:06
the
29:06
week,
29:06
it
29:06
seems
29:07
sometimes
29:07
right.
29:08
There's,
29:09
there's
29:09
going
29:09
to
29:09
be
29:09
a
29:10
lot
29:10
more
29:10
volatility
29:11
maybe
29:11
than
29:11
if
29:11
they
29:11
were
29:12
trying
29:12
this
29:12
several
29:12
years
29:13
ago
29:13
or
29:13
maybe
29:14
several
29:14
years
29:14
from
29:14
now.
29:16
There
29:16
will
29:16
be
29:17
a
29:17
lot
29:17
of,
29:17
a
29:17
lot
29:18
of
29:18
details
29:18
to
29:18
mind
29:19
and
29:19
you
29:19
can
29:19
imagine,
29:20
you
29:20
can
29:20
somewhat
29:21
easily
29:21
imagine
29:21
a
29:21
scenario
29:22
where
29:22
sellers
29:23
are
29:23
getting
29:24
you
29:24
know,
29:24
suddenly
29:25
seeing
29:25
a
29:25
lot
29:25
of
29:25
fees
29:26
showing
29:26
up
29:26
that
29:26
maybe
29:27
that
29:27
they,
29:27
they
29:27
weren't
29:27
aware
29:28
of,
29:28
you
29:28
know,
29:28
goods
29:29
getting
29:29
kind
29:29
of
29:29
caught
29:29
up,
29:30
crossing
29:30
borders
29:31
and,
29:31
and
29:32
then
29:32
delivery
29:32
times
29:32
being
29:33
shaken
29:33
up,
29:33
consumers
29:34
not
29:34
being
29:34
you
29:34
know,
29:35
so
29:35
that
29:36
story
29:36
is
29:36
possible
29:37
but
29:37
any
29:37
good
29:37
idea
29:38
has
29:38
risk.
29:38
Right.
29:39
Not
29:39
saying
29:39
that's
29:40
a
29:40
reason
29:40
not
29:40
to
29:40
do
29:41
it
29:41
but
29:42
we'll
29:42
just
29:42
be
29:42
very
29:42
curious
29:43
to
29:43
see
29:43
how
29:44
the
29:44
execution
29:45
of
29:45
this
29:45
strategy.
29:46
Right.
29:46
The
29:46
classic
29:47
well
29:47
hey,
29:47
the
29:47
you
29:47
know,
29:48
80%
29:48
of
29:48
the
29:48
the
29:49
value
29:49
is
29:49
in
29:49
the
29:49
execution,
29:50
not
29:50
the,
29:50
not
29:50
the
29:50
strategy
29:51
and
29:51
the
29:51
idea.
29:52
I
29:52
think
29:52
this
29:52
one
29:52
in
29:53
particular,
29:53
you
29:53
know
29:54
there
29:54
are
29:54
some
29:54
meaningful
29:55
considerations
29:55
that
29:56
I'm
29:56
sure
29:56
that
29:56
team
29:56
is
29:56
going
29:56
to
29:56
be
29:57
very
29:57
on
29:57
top
29:57
of
29:57
and
29:58
looking
29:58
to
29:58
nail
29:59
down.
29:59
We
29:59
shall
29:59
see.
30:00
That's
30:01
right.
30:01
Yeah.
30:01
Because
30:01
if
30:02
it
30:02
doesn't
30:02
work
30:03
right
30:03
the
30:03
first
30:03
time
30:04
you
30:04
might
30:04
have
30:04
some
30:05
sellers
30:05
that
30:05
are
30:06
walking
30:07
back
30:07
from
30:08
their
30:08
experience
30:08
with
30:09
maybe
30:09
Walmart
30:10
Marketplace,
30:11
us
30:11
too,
30:12
not
30:12
just
30:12
the,
30:12
the
30:13
Mexico
30:13
and
30:13
Canada
30:14
versions.
30:15
Ken,
30:15
did
30:15
you
30:15
want
30:15
to
30:15
close
30:16
us
30:16
out
30:16
here
30:16
with
30:16
one
30:16
more
30:17
thought?
30:17
Yeah,
30:18
I
30:18
mean,
30:18
I
30:18
think,
30:18
you
30:18
know,
30:19
it's
30:19
obviously
30:19
great
30:19
to
30:19
start
30:19
with
30:20
Canada,
30:20
New
30:20
Mexico,
30:20
those
30:20
are
30:21
the
30:21
easy
30:21
buttons
30:21
of
30:22
international
30:22
shipping
30:23
from
30:23
the
30:23
United
30:23
States.
30:24
So
30:24
that's
30:24
the
30:24
place
30:24
to
30:25
do
30:25
this.
30:25
You
30:26
know,
30:26
I
30:26
think
30:26
the,
30:26
you
30:27
know,
30:27
vendors
30:27
need
30:27
to
30:28
be
30:28
aware
30:28
that
30:28
they
30:28
are
30:29
now
30:29
going
30:29
to
30:29
be
30:29
responsible
30:30
for
30:31
compliance
30:31
and
30:32
making
30:32
sure
30:33
things
30:33
are
30:33
in
30:34
the
30:34
right
30:34
language,
30:34
marked
30:35
the
30:35
right
30:35
way,
30:35
packed
30:36
the
30:36
right
30:36
way,
30:36
with
30:37
the
30:37
right
30:38
requirements.
30:38
So
30:39
I'm
30:39
sure
30:39
Walmart
30:40
will
30:40
be
30:40
very
30:40
good
30:41
at
30:41
communicating
30:41
those
30:41
requirements
30:42
backwards.
30:43
But
30:43
you
30:43
know,
30:43
Canada
30:44
and
30:44
Mexico
30:44
is
30:44
the
30:44
place
30:45
to
30:45
start.
30:45
They
30:45
got
30:45
lots
30:46
of
30:46
volume,
30:46
scale,
30:47
you
30:47
know,
30:47
scale
30:48
is
30:48
all
30:48
that
30:48
matters
30:49
in
30:49
transportation.
30:50
So
30:50
at
30:50
the
30:50
end
30:50
of
30:50
the
30:50
day
30:50
they
30:51
can
30:51
deliver
30:51
a
30:51
heck
30:51
of
30:51
a
30:51
value
30:52
for
30:52
folks
30:53
that
30:53
were
30:53
trying
30:53
to
30:53
do
30:53
small
30:54
parcel
30:54
shipping
30:54
from
30:55
their
30:55
house,
30:55
that,
30:55
that's
30:55
never
30:56
going
30:56
to
30:56
work.
30:56
So,
30:57
you
30:58
know,
30:58
fire
30:58
it
30:58
up
30:58
and
30:58
let's
30:59
go.
30:59
Now
30:59
we
31:00
start
31:00
going
31:00
across
31:00
oceans,
31:01
it'll
31:01
get
31:01
a
31:02
little
31:02
trickier,
31:02
but
31:02
we'll
31:02
see,
31:03
right?
31:03
Yeah.
31:04
And
31:04
I
31:04
think
31:04
too,
31:04
Ken,
31:05
you
31:05
know,
31:05
to
31:05
that
31:05
point,
31:06
to
31:06
the
31:06
point
31:06
you
31:06
guys
31:06
brought
31:06
up
31:07
about
31:07
the
31:07
vendors,
31:07
like,
31:08
let's
31:08
not
31:08
forget
31:08
there's
31:09
a
31:09
lot
31:09
of
31:09
vendors
31:09
already
31:10
doing
31:10
this
31:11
via
31:11
Amazon.
31:12
So
31:12
there's
31:12
a
31:12
lot
31:12
of
31:12
vendors
31:13
that
31:13
understand
31:13
the
31:14
cross
31:14
border
31:14
dynamics.
31:15
There's
31:15
probably
31:16
thousands,
31:16
if
31:16
not
31:17
tens
31:17
of
31:17
thousands
31:17
of
31:18
them
31:18
that
31:18
are
31:18
already
31:18
doing
31:19
this
31:19
with
31:19
Amazon.
31:19
So
31:20
they're
31:20
not
31:20
going
31:21
to
31:21
have
31:21
trouble
31:21
acclimating.
31:22
So
31:22
as
31:22
long
31:23
as
31:23
Walmart
31:23
can
31:23
get
31:23
the
31:24
execution
31:24
right,
31:24
it's,
31:25
it's
31:25
kind
31:25
of
31:25
a.
31:25
It's
31:26
kind
31:26
of.
31:26
It'll
31:26
work.
31:26
It'll
31:27
work.
31:27
Right?
31:27
All
31:28
right,
31:28
headline
31:28
number
31:28
four.
31:29
EBay
31:29
is
31:30
banning
31:30
AI
31:31
shopping
31:31
bots
31:32
for
31:32
making
31:32
automated
31:33
purchases
31:34
on
31:34
its
31:34
platform.
31:35
According
31:35
to
31:36
chainstorage.
31:36
EBay
31:37
is
31:37
updating
31:37
its
31:38
user
31:38
agreement
31:38
to
31:39
specifically
31:39
prohibit.
31:40
We
31:40
split
31:41
an
31:41
infinitive
31:41
there.
31:41
And
31:42
to
31:42
specifically
31:43
prohibit
31:44
unauthorized
31:45
agentic
31:45
AI
31:46
tools
31:46
and
31:46
bots
31:46
from
31:47
accessing
31:47
or
31:47
taking
31:48
actions
31:48
on
31:48
its
31:48
platform.
31:49
Ebay
31:50
called
31:50
out
31:50
AI
31:51
shopping
31:51
agents
31:51
like
31:51
Amazon's
31:52
Buy
31:52
from
31:53
Me
31:53
and
31:53
LLM
31:54
scraping
31:54
bots
31:54
by
31:55
name,
31:55
saying
31:55
they
31:56
are
31:56
not
31:56
permitted
31:56
to
31:57
interact
31:57
with
31:58
the
31:58
platform
31:58
without
31:59
eBay's
31:59
explicit
32:00
permission.
32:01
EBay
32:01
said,
32:02
quote,
32:02
these
32:03
rules
32:03
help
32:03
keep
32:04
interactions
32:04
predictable
32:05
and
32:05
safe
32:05
so
32:06
we
32:06
can
32:06
protect
32:06
buyers
32:07
and
32:07
sellers,
32:07
apply
32:08
appropriate
32:08
safeguard
32:09
and
32:09
usage
32:09
limits
32:10
and
32:10
maintain
32:11
a
32:11
reliable
32:12
experience,
32:12
end
32:13
quote.
32:13
Ken,
32:14
curious,
32:14
do
32:14
you
32:15
agree
32:15
with
32:15
the
32:15
approach
32:15
ebay
32:16
is
32:16
taking
32:16
here?
32:16
And
32:17
do
32:17
you
32:17
expect
32:17
other
32:18
retailers
32:19
to
32:19
follow
32:19
ebay's?
32:20
Lead?
32:21
Well,
32:21
I
32:21
listened
32:22
to
32:22
this
32:22
world
32:22
class
32:23
podcast
32:23
that
32:24
talked
32:24
just
32:24
a
32:24
week
32:24
or
32:24
so
32:24
ago
32:25
about
32:26
Amazon's
32:27
move
32:27
in
32:27
this
32:27
area.
32:28
So
32:29
I
32:29
was
32:29
doing
32:29
my
32:29
homework
32:29
before
32:30
the
32:30
call,
32:30
and
32:31
I
32:31
think
32:31
it
32:32
makes
32:32
sense
32:32
for
32:32
ebay
32:33
to
32:33
make
32:33
this
32:33
decision
32:34
because
32:34
they're
32:34
a
32:35
marketplace.
32:36
And
32:36
you
32:36
know,
32:36
you
32:37
just
32:37
mentioned
32:37
earlier
32:37
about,
32:38
about
32:38
Walmart's
32:39
valuation
32:40
as
32:40
it
32:40
relates
32:40
to
32:40
advertising
32:41
dollars
32:41
and
32:41
some
32:42
things.
32:42
At
32:43
the
32:43
end
32:43
of
32:43
the
32:43
day,
32:43
marketplaces
32:44
are
32:45
making
32:46
a
32:46
lot
32:46
of
32:46
money
32:46
off
32:46
advertising
32:47
and
32:48
how
32:48
they
32:48
manage
32:48
that
32:49
relationship
32:49
with
32:49
their
32:49
customers.
32:50
And
32:51
so
32:51
as
32:52
a
32:52
retailer,
32:53
I
32:53
don't
32:54
think
32:54
I
32:54
would
32:54
take
32:54
this
32:55
stance.
32:55
As
32:56
a
32:56
marketplace,
32:57
I
32:57
think
32:57
I
32:58
would
32:58
take
32:58
this
32:58
stance.
32:59
So
32:59
to
32:59
me,
33:00
the
33:00
distinction
33:00
there
33:00
is
33:01
marketplace
33:01
versus
33:02
retailer.
33:02
Because
33:03
at
33:04
the
33:04
end
33:04
of
33:04
the
33:04
day,
33:04
do
33:04
I
33:04
want
33:05
to
33:05
sell
33:05
something
33:06
as
33:06
a,
33:06
as
33:06
a
33:07
single
33:07
brand
33:07
retailer
33:08
selling
33:09
something?
33:09
Yeah,
33:10
if
33:10
I'm
33:10
a.
33:11
But
33:11
if
33:11
I'm
33:12
a
33:12
marketplace
33:12
vendor,
33:13
where
33:13
all
33:13
of
33:13
a
33:13
sudden
33:13
I'm
33:14
really
33:14
trying
33:14
to
33:14
combine
33:15
the
33:15
marketing
33:15
message
33:16
and
33:16
my
33:16
own
33:16
search
33:17
capabilities
33:17
and
33:17
some
33:18
of
33:18
those
33:18
things
33:18
I
33:19
look
33:19
at
33:19
a
33:19
little
33:19
bit
33:19
differently.
33:20
So
33:20
I
33:21
would
33:21
say
33:21
I
33:21
understand
33:21
why
33:21
they're
33:22
doing
33:22
it
33:22
in
33:22
their
33:22
case,
33:22
but
33:23
I'm
33:23
not
33:23
sure
33:24
how
33:25
more
33:25
single
33:26
brand
33:26
retail
33:26
solutions
33:27
or
33:28
those
33:29
folks
33:29
would
33:29
really
33:30
adopt
33:30
this
33:30
kind
33:30
of
33:30
strategy.
33:31
That's
33:31
interesting.
33:32
I
33:32
hadn't
33:32
thought
33:32
about
33:33
that
33:33
dichotomy
33:34
of
33:34
marketplace
33:34
versus
33:35
a
33:35
retailer.
33:36
John,
33:36
what's
33:36
your
33:36
thoughts
33:37
on
33:37
that?
33:38
Yeah,
33:38
I
33:38
think
33:38
it's
33:38
a
33:39
really
33:39
meaningful
33:39
difference.
33:40
And
33:41
when
33:41
you
33:41
think
33:42
about
33:42
ebay,
33:43
obviously
33:43
it's
33:44
been
33:44
around
33:44
for
33:44
a
33:44
while,
33:44
and
33:45
we
33:45
think
33:46
about
33:46
20
33:46
years
33:47
ago
33:47
when
33:47
we
33:47
were
33:47
bidding
33:48
on
33:48
some
33:49
collectible
33:50
antique
33:50
or
33:50
something,
33:51
and
33:51
you
33:52
didn't
33:52
know
33:52
who
33:52
was
33:52
on
33:52
the
33:52
other
33:52
side,
33:53
and
33:53
that
33:53
was
33:53
kind
33:53
of
33:54
mysterious.
33:55
I
33:56
think
33:56
the
33:56
success
33:57
of
33:57
ebay,
33:57
one
33:57
of
33:58
the
33:58
biggest
33:58
predictors
33:58
of
33:58
it
33:58
is
33:59
do
33:59
people
33:59
trust
34:00
the
34:00
marketplace?
34:01
And
34:01
it's
34:01
a
34:01
little
34:01
different
34:01
than
34:02
trusting
34:02
the
34:02
retailer.
34:03
The
34:03
retailer,
34:03
you
34:03
want
34:04
a
34:04
certain
34:04
quality
34:05
of
34:05
goods
34:05
and,
34:06
and
34:06
safety
34:06
and
34:06
so
34:06
on.
34:07
On
34:07
a
34:07
marketplace,
34:08
well,
34:09
the
34:09
seller
34:09
is
34:09
responsible
34:10
for
34:10
the,
34:10
you
34:10
know,
34:10
the
34:11
quality
34:11
of
34:11
the
34:11
goods.
34:12
What
34:12
I
34:12
trust
34:13
the
34:13
marketplace
34:13
to
34:13
do
34:13
is
34:13
just
34:14
kind
34:14
of
34:14
keep
34:14
a
34:14
level
34:15
playing
34:15
field
34:16
and
34:16
feel
34:17
like,
34:17
okay,
34:17
I
34:17
had
34:17
a,
34:17
I
34:17
had
34:18
a
34:18
fair
34:18
shot,
34:18
you
34:18
know,
34:19
in
34:19
my
34:19
interaction,
34:20
I
34:20
know
34:20
what's
34:20
going
34:20
on.
34:20
I
34:20
know
34:21
the
34:21
fees.
34:21
When
34:22
I
34:22
saw
34:22
this
34:22
headline,
34:23
I
34:23
thought,
34:23
you
34:24
know,
34:24
ticketmaster
34:24
says
34:25
hello.
34:26
The
34:27
analogy
34:27
perfectly
34:28
works,
34:29
necessarily.
34:29
But
34:29
if
34:29
we
34:29
just
34:29
tease
34:30
that
34:30
out
34:30
a
34:30
little
34:30
bit,
34:31
you
34:31
know,
34:31
we've
34:31
all
34:32
been
34:32
frustrated
34:33
with,
34:33
you
34:34
know,
34:34
bots
34:34
buying
34:34
up
34:35
tickets,
34:35
and
34:35
then
34:35
you're
34:36
onto
34:36
the
34:36
secondary
34:37
market
34:37
and
34:38
you're
34:38
paying
34:38
a
34:38
premium
34:38
price
34:39
there,
34:39
you
34:40
know,
34:40
that
34:40
frustration.
34:41
And
34:41
we
34:41
haven't
34:41
quite
34:42
solved
34:42
that
34:42
one
34:42
just
34:42
yet.
34:42
Right.
34:43
But
34:43
I
34:43
think
34:43
the
34:44
analogy
34:44
holds
34:44
that,
34:44
okay,
34:45
ebay's,
34:45
you
34:45
know,
34:46
saying,
34:46
hey,
34:46
we
34:46
don't
34:46
want
34:46
our
34:47
core
34:47
users,
34:48
right,
34:48
the
34:48
ones
34:48
that
34:48
are
34:49
particularly
34:49
high
34:49
volume
34:49
and
34:50
so
34:50
on,
34:51
getting
34:51
frustrated
34:51
by
34:52
this
34:52
dynamic.
34:52
Let's,
34:53
let's
34:53
keep
34:53
for
34:53
now
34:53
at
34:54
least.
34:54
Let's
34:54
keep
34:54
it,
34:55
you
34:55
know,
34:55
human
34:55
to
34:56
human.
34:57
And
34:57
then
34:57
when
34:57
I
34:57
think
34:57
about
34:58
the
34:58
bottom
34:58
line
34:58
impact,
34:58
just
34:59
to
34:59
add
34:59
one
34:59
more
34:59
point
35:00
at
35:01
the
35:01
end
35:01
of
35:01
the
35:01
day,
35:01
yes,
35:01
ebay
35:02
is
35:02
making
35:02
a
35:02
lot
35:02
of
35:02
money
35:02
on
35:02
marketing,
35:03
as
35:03
Ken
35:04
said.
35:04
But
35:04
also,
35:04
you
35:05
know,
35:05
there's
35:05
a
35:05
fee,
35:06
right.
35:06
That's
35:06
depending
35:06
on,
35:07
okay,
35:07
how
35:07
many
35:07
dollars
35:08
are
35:08
flowing
35:08
through
35:08
those
35:09
auctions.
35:09
And
35:10
I
35:10
suspect
35:10
that
35:11
a
35:11
well
35:12
programmed
35:13
bot
35:13
might
35:14
be
35:14
a
35:14
little
35:14
bit
35:15
too
35:15
rational
35:15
in
35:16
what
35:16
they're
35:16
bidding
35:17
versus
35:17
wow,
35:18
the
35:18
human
35:18
who
35:19
really
35:19
wants
35:20
that
35:20
Magic
35:20
the
35:21
Gathering
35:21
card
35:21
shout
35:22
out
35:22
to
35:22
younger
35:22
John
35:23
and
35:24
they
35:24
put
35:24
in
35:24
that
35:25
final
35:26
little
35:26
bit
35:26
higher
35:26
bid,
35:27
a
35:27
little
35:27
bit
35:27
more
35:27
revenue
35:28
flowing
35:28
through
35:28
the
35:28
pipes.
35:29
So
35:29
I
35:30
wonder
35:30
if
35:30
there's
35:30
just
35:30
a
35:30
bit
35:30
of
35:31
a
35:31
bottom
35:31
line
35:32
play
35:32
here
35:32
as
35:32
well
35:33
as
35:33
the
35:33
integrity,
35:33
fair
35:34
display.
35:35
That's
35:35
a
35:35
really
35:35
interesting
35:36
point
35:36
too.
35:36
That's
35:36
unique,
35:37
particularly
35:37
unique
35:38
to
35:38
ebay
35:38
too.
35:39
I,
35:39
I,
35:39
you
35:39
know,
35:39
I,
35:40
the
35:40
marketplace,
35:41
the
35:41
marketplace
35:41
versus
35:41
retail
35:42
I
35:42
think
35:42
is
35:42
really
35:42
interesting.
35:42
Me
35:43
too.
35:43
I
35:43
kind
35:43
of,
35:43
Ken,
35:44
as
35:44
I'm
35:44
thinking
35:44
about
35:44
this
35:44
in,
35:45
in
35:45
the
35:45
mo
35:45
moment,
35:46
in
35:46
real
35:46
time,
35:46
I
35:47
almost
35:47
think
35:47
it's
35:47
like,
35:47
yes,
35:48
and
35:48
the,
35:48
and
35:49
for
35:49
me
35:49
would
35:49
be
35:50
what
35:50
is
35:50
your
35:51
reputation
35:51
as
35:51
a
35:52
retailer
35:52
and
35:52
basically
35:53
your
35:53
power
35:53
in
35:54
the
35:54
marketplace
35:55
too,
35:55
I
35:55
think
35:55
comes
35:55
into
35:55
play
35:56
here
35:56
too.
35:56
Because
35:57
the
35:57
one
35:57
thing
35:57
about
35:57
this
35:58
is,
35:58
you
35:59
know,
35:59
in
35:59
the
35:59
short
36:00
term
36:01
you
36:01
cannot,
36:01
you
36:02
can
36:02
take
36:02
this
36:02
approach
36:03
and
36:03
always
36:03
change
36:03
your
36:04
mind
36:04
later,
36:04
but
36:04
if
36:05
you
36:05
open
36:05
it
36:05
up
36:05
too
36:06
soon,
36:06
it's
36:06
hard
36:07
to
36:07
probably
36:07
go
36:07
back
36:08
and
36:08
unwire
36:09
that.
36:10
So
36:10
that's
36:10
why
36:10
I,
36:11
I
36:11
like
36:11
this
36:12
approach.
36:12
And
36:12
the
36:13
other
36:13
thing
36:13
I
36:13
think
36:13
you
36:13
have
36:13
to
36:13
factor
36:14
in
36:14
too
36:14
is
36:15
what's
36:15
the
36:15
size
36:15
of
36:15
your
36:15
IT
36:16
team.
36:16
Like
36:17
eBay
36:17
probably
36:17
has
36:17
a
36:18
pretty
36:18
sizable
36:18
IT
36:18
team
36:19
to
36:19
create
36:19
and
36:19
control
36:20
this.
36:20
Whereas
36:20
like
36:20
if
36:20
you're
36:21
a
36:21
small,
36:21
medium
36:22
sized
36:22
business,
36:22
you
36:22
have,
36:23
you
36:23
have
36:23
probably
36:23
no
36:23
hope
36:23
in
36:24
trying
36:24
to
36:24
do
36:24
this
36:24
or
36:25
it's
36:25
going
36:25
to
36:25
be
36:25
very
36:25
difficult
36:26
for
36:26
you.
36:26
But,
36:27
but
36:27
Ann,
36:27
what
36:28
do
36:28
you
36:28
think?
36:28
And
36:28
then
36:28
we'll
36:28
go
36:28
back
36:29
to
36:29
Ken.
36:30
Well,
36:30
I,
36:31
I
36:31
think
36:31
we're,
36:31
we're
36:32
missing
36:32
a
36:32
key
36:32
component
36:33
of
36:33
the
36:33
conversation
36:34
here
36:34
and
36:34
that
36:35
is
36:35
what
36:35
the
36:35
customer
36:36
is
36:36
going
36:36
to
36:36
buy
36:37
on
36:37
ebay
36:37
too.
36:38
I
36:38
mean
36:39
like,
36:39
like
36:39
Ken
36:40
and
36:40
John
36:40
both
36:41
said,
36:41
I
36:41
mean,
36:41
you're
36:42
going
36:42
to
36:42
buy
36:42
collectibles
36:43
too.
36:43
You're
36:43
going
36:44
to
36:44
buy
36:44
Magic
36:45
the
36:45
Gathering
36:45
cards.
36:46
I'M
36:46
going
36:47
on
36:47
ebay
36:47
to
36:47
buy
36:48
resale
36:49
apparel
36:49
and
36:50
accessories
36:50
and
36:51
clothing.
36:51
And
36:52
that
36:52
doesn't
36:52
work
36:52
the
36:53
same
36:53
way
36:53
as
36:54
a
36:54
buy
36:54
for
36:54
me
36:54
when
36:55
I'm
36:55
buying
36:55
a
36:55
brand
36:55
new
36:56
product
36:56
or
36:56
a
36:57
bra
36:57
from
36:57
Lululemon.
36:58
Like
36:58
Amazon
36:59
Buy
36:59
for
36:59
Me
36:59
example
37:00
was,
37:00
came
37:00
out,
37:00
you
37:00
know,
37:01
months
37:01
ago.
37:02
This,
37:02
this
37:02
requires
37:03
you
37:03
to
37:03
go
37:04
on
37:04
the,
37:04
like,
37:04
I'm
37:05
fine
37:05
with
37:05
the
37:05
LLM
37:06
search
37:06
like
37:06
which
37:07
it
37:07
sounds
37:07
like
37:07
ebay
37:07
is
37:07
still
37:08
doing.
37:08
I
37:08
can
37:08
still
37:08
show
37:09
up,
37:09
have
37:09
my
37:09
products
37:10
show
37:10
up
37:10
in
37:10
the
37:10
LLM
37:11
search
37:11
when
37:11
I'm
37:11
saying
37:12
I'm
37:12
looking
37:12
for,
37:13
you
37:13
know,
37:13
a,
37:13
a
37:14
yellow
37:14
handbag
37:15
and
37:15
have
37:15
the
37:16
ebay
37:16
results
37:16
come
37:17
through.
37:17
What
37:17
I
37:18
don't
37:18
want
37:18
is
37:18
a
37:19
bot
37:19
automatically
37:20
purchasing
37:20
something
37:20
for
37:21
me
37:21
that
37:21
I
37:21
can't
37:22
then
37:22
go
37:22
in
37:22
and
37:23
specifically
37:23
inspect
37:24
myself
37:25
and
37:25
look
37:25
at
37:25
the
37:26
quality
37:26
and
37:26
look
37:27
at
37:27
the
37:27
reviews
37:27
from
37:27
that
37:28
person.
37:28
Like
37:28
that
37:29
part
37:29
is,
37:29
is
37:30
still,
37:30
I
37:30
think,
37:30
something
37:31
that
37:31
I,
37:31
as
37:31
ebay,
37:32
as
37:32
a
37:32
retailer,
37:33
I
37:33
don't
37:33
want
37:33
a
37:34
bot
37:34
coming
37:34
in
37:35
and
37:35
having
37:35
my
37:36
customers
37:36
be
37:36
dissatisfied
37:37
with
37:37
their
37:37
purchase
37:38
that
37:38
they
37:38
automatically
37:39
had
37:39
a
37:39
bot
37:39
buy
37:40
for
37:40
them
37:40
when
37:40
they
37:40
didn't
37:40
get
37:41
to
37:41
look
37:41
at
37:41
the,
37:42
the
37:42
product
37:42
and
37:42
inspect
37:43
it
37:43
themselves.
37:44
So
37:44
I'm
37:44
with,
37:44
I'm
37:45
here,
37:45
I'm
37:45
with
37:46
Ken
37:46
here.
37:46
Like
37:46
I
37:47
think
37:47
retailers
37:47
who
37:47
are
37:48
selling
37:48
new
37:48
goods,
37:49
like
37:49
go
37:50
ahead,
37:50
buy
37:50
from
37:50
me,
37:51
that's
37:51
not
37:51
a
37:51
problem.
37:51
You
37:52
don't
37:52
have
37:52
an
37:52
issue
37:52
with
37:52
returns
37:53
as
37:53
much.
37:54
You
37:54
don't
37:54
have
37:54
like
37:55
those
37:55
kinds
37:55
of
37:55
issues
37:55
aren't
37:56
there
37:56
when
37:57
you're
37:57
dealing
37:57
with
37:57
a
37:58
marketplace
37:58
that
37:58
especially
37:59
is,
37:59
is
38:00
known
38:00
and
38:01
came
38:01
on
38:01
the
38:01
scene
38:02
selling
38:02
collectibles
38:03
and
38:03
resold
38:04
goods
38:04
that
38:05
have
38:05
more
38:05
nuance
38:06
to
38:06
them
38:06
when
38:06
you're
38:07
purchasing
38:07
and
38:07
isn't
38:08
a
38:08
situation
38:08
where
38:09
a
38:09
bot
38:09
should
38:09
just
38:09
come
38:10
and
38:10
buy
38:10
it
38:10
and
38:10
you're
38:11
done.
38:12
Hmm,
38:12
that's
38:13
interesting
38:13
too.
38:13
Like
38:13
it
38:13
goes
38:14
back
38:14
to
38:14
the
38:14
first
38:14
headline
38:14
too
38:14
about
38:15
biometric
38:15
payments.
38:15
Like,
38:16
we
38:16
think
38:16
everyone
38:16
wants
38:17
this
38:17
agent
38:18
commerce,
38:18
but
38:19
you're
38:19
saying
38:19
you
38:19
want
38:19
it
38:19
for
38:20
some
38:20
items
38:20
and
38:20
not
38:21
for
38:21
others.
38:21
And
38:21
I'm
38:22
actually
38:22
wondering
38:22
if
38:22
the
38:23
utility
38:23
is
38:23
there
38:23
for
38:24
anything
38:25
and
38:25
time
38:25
will
38:25
tell.
38:26
But
38:26
Ken,
38:27
what
38:27
do
38:27
you
38:27
think?
38:28
Yeah,
38:29
it's
38:29
really
38:29
interesting
38:30
what
38:30
you
38:30
said
38:30
there.
38:30
And
38:30
I
38:31
could
38:31
almost
38:31
see
38:31
a
38:31
bot
38:31
that
38:32
would
38:32
say,
38:32
oh,
38:32
that
38:32
seller
38:33
has
38:33
one
38:33
star.
38:33
I'm
38:34
not
38:34
even
38:34
going
38:34
to
38:34
show
38:34
that
38:35
that
38:35
product.
38:35
But
38:36
if
38:36
I
38:36
want
38:36
the
38:37
Hummel
38:37
figure
38:37
that
38:38
looked
38:38
like
38:38
my
38:38
grandma's
38:39
and
38:39
I
38:39
might
38:39
take
38:40
a
38:40
chip,
38:40
then
38:41
I,
38:41
I
38:41
don't
38:41
want
38:41
that
38:42
bot
38:42
to
38:42
eliminate
38:42
that.
38:43
And
38:43
that's
38:43
what
38:43
ebay
38:43
wants
38:44
to
38:44
make
38:44
sure
38:44
they
38:44
can
38:44
continue
38:45
to
38:45
enable.
38:46
Is
38:46
somebody
38:47
saying,
38:47
no,
38:47
the
38:48
value
38:48
of
38:48
the
38:48
Hummel
38:49
figure
38:49
is
38:49
what
38:49
I
38:50
wanted
38:50
because
38:50
that's
38:50
what
38:51
grandma
38:51
had.
38:51
Now
38:52
the
38:52
only
38:52
thing
38:52
I
38:53
had
38:53
to
38:53
say
38:53
that
38:53
I
38:53
think
38:53
I
38:54
found
38:54
ironic
38:54
about
38:54
this
38:55
article
38:55
and
38:55
John
38:56
kind
38:56
of
38:56
referen
38:56
that
38:57
somehow
38:57
ebay
38:58
can
38:58
figure
38:58
out
38:58
that
38:58
this
38:58
is
38:58
a
38:59
bot
38:59
coming
38:59
shopping,
39:00
but
39:00
Ticketmaster
39:01
can't
39:01
figure
39:01
out
39:01
that
39:01
it's
39:02
a
39:02
bot
39:02
coming
39:02
to
39:02
buy
39:02
a
39:03
bunch
39:03
of
39:03
tickets
39:03
up.
39:04
So
39:04
I'm
39:04
like,
39:05
what
39:05
is
39:05
really,
39:06
what
39:06
really
39:06
does
39:06
exist
39:07
as
39:07
a
39:07
capability
39:08
and
39:08
can
39:08
we
39:09
really
39:09
stop
39:09
bot
39:10
buying
39:10
of.
39:10
Of
39:11
bulk
39:11
tickets
39:11
and
39:11
then
39:12
driving
39:12
them
39:12
in
39:12
the
39:12
resale
39:13
marketplace?
39:13
Because
39:14
I'm
39:14
trying
39:14
to
39:14
figure
39:14
out
39:15
who's
39:15
on
39:15
which
39:15
side
39:15
of
39:15
the
39:16
story
39:16
here.
39:17
Yeah.
39:17
And
39:17
that's
39:18
a
39:18
topic
39:18
I
39:18
want
39:18
to
39:18
dive
39:19
deep
39:19
into
39:19
over
39:20
the
39:20
next,
39:20
you
39:20
know,
39:20
three
39:21
to
39:21
six
39:21
months
39:21
because
39:21
I
39:21
think
39:21
it's
39:22
going
39:22
to
39:22
be
39:22
very,
39:23
it's
39:23
going
39:23
to
39:23
become
39:23
more
39:24
important
39:24
with
39:24
each
39:25
passing
39:25
week.
39:25
Ken,
39:26
I
39:26
think
39:26
that's
39:26
a
39:26
great
39:26
call
39:27
out.
39:27
All
39:27
right,
39:28
let's
39:28
go
39:28
on
39:28
to
39:28
headline
39:29
number
39:29
five.
39:29
BJ's
39:30
Wholesale
39:30
Club
39:31
is
39:31
opening
39:31
its
39:31
second
39:32
small
39:32
format
39:32
BJ's
39:33
location,
39:34
this
39:34
time
39:35
in
39:35
Delray
39:35
Beach,
39:36
Florida.
39:36
According
39:37
to
39:37
storebrands.com
39:39
the
39:39
new
39:39
BJ's
39:39
Market
39:40
is
39:40
55000
39:41
square
39:41
feet,
39:41
about
39:42
half
39:42
the
39:42
size
39:42
of
39:43
a
39:43
typical
39:43
BJ's
39:44
Wholesale
39:44
location.
39:45
BJ's
39:46
first
39:46
introduced
39:46
the
39:46
market
39:47
concept
39:47
in
39:47
Warwick,
39:48
Rhode
39:48
island
39:49
back
39:49
in
39:49
2022,
39:50
making
39:50
this
39:50
only
39:51
the
39:51
the
39:51
second
39:52
test
39:52
of
39:52
the
39:52
smaller
39:53
footprint
39:53
format.
39:54
The
39:54
store
39:55
features
39:55
fresh
39:55
food,
39:56
produce,
39:56
sundries
39:57
and
39:57
seasonal
39:57
products
39:57
and
39:58
is
39:58
positioned
39:58
as
39:58
a
39:59
convenient
39:59
weeknight
40:00
grocery
40:00
run
40:00
or
40:01
a
40:01
fast
40:01
weekend
40:02
trip.
40:03
BJ's
40:03
EVP
40:04
of
40:04
Strategy
40:04
and
40:04
Development
40:05
Bill
40:05
Werner
40:06
said,
40:06
quote,
40:06
BJ's
40:07
market
40:07
offers
40:07
unbeatable
40:08
value
40:08
on
40:09
groceries
40:09
combined
40:10
with
40:10
a
40:10
smaller
40:10
footprint
40:11
that
40:11
makes
40:12
for
40:12
a
40:12
quick
40:13
shopping
40:13
experience,
40:14
end
40:14
quote.
40:15
John,
40:15
we're
40:16
going
40:16
to
40:16
you
40:16
again
40:17
who
40:17
should
40:17
be
40:17
the
40:18
most
40:18
scared
40:19
if
40:19
a
40:19
smaller
40:20
format
40:21
club
40:21
operation
40:22
proves
40:23
successful,
40:23
especially
40:24
in
40:24
Rhode
40:24
island
40:25
and
40:25
Delray
40:25
Beach,
40:26
Florida.
40:26
Yeah,
40:27
there
40:27
are
40:27
two
40:28
different,
40:28
two
40:28
more
40:29
different
40:29
places.
40:29
Can
40:29
we
40:30
start
40:30
there
40:31
and
40:31
they
40:31
took
40:31
them.
40:32
Yeah,
40:33
this,
40:33
this
40:34
one's
40:34
super
40:34
interesting
40:35
and,
40:35
but
40:35
in,
40:35
in
40:36
many
40:36
ways
40:36
a
40:36
bit
40:36
perplexing.
40:38
You
40:38
know,
40:38
you
40:39
wait
40:39
four
40:39
years
40:39
to
40:40
take
40:40
the
40:40
second
40:40
bite
40:40
of
40:41
the
40:41
apple.
40:43
I
40:43
hope
40:43
you
40:43
learned
40:43
a
40:43
lot
40:44
right
40:44
about
40:44
the
40:44
first
40:45
one
40:45
and
40:45
then
40:45
in
40:45
a
40:45
very
40:46
different
40:46
location.
40:47
I
40:47
think
40:47
my
40:47
takeaway
40:48
on
40:48
this
40:48
one
40:48
or
40:48
my
40:48
take
40:49
on
40:49
it
40:49
is
40:50
I
40:50
think
40:51
this
40:51
format
40:52
will
40:52
have
40:52
limited
40:53
potential
40:55
because
40:56
it's
40:56
targeting
40:57
a
40:58
fairly
40:58
thin
40:58
sliver
40:59
of
40:59
the
40:59
market.
41:00
So
41:00
the
41:00
way
41:00
I
41:00
would
41:00
think
41:01
through
41:01
this
41:01
is
41:02
you
41:02
have
41:02
a
41:03
club
41:03
format,
41:04
club,
41:04
fundamentally
41:05
limited
41:06
SKU
41:06
assortment
41:07
and
41:08
low,
41:08
low
41:09
pricing
41:09
on
41:09
a
41:09
per
41:09
ounce
41:10
basis.
41:10
Right.
41:11
I
41:11
mean
41:11
obviously
41:11
the
41:11
dollar
41:12
amounts
41:12
could
41:12
end
41:12
up
41:13
being
41:13
quite
41:13
large
41:13
the
41:14
last
41:14
time
41:14
I
41:14
walked
41:14
out
41:14
of
41:14
a
41:14
Costco.
41:15
But
41:15
on
41:16
a
41:16
per
41:16
ounce
41:16
basis,
41:17
hopefully
41:17
you're
41:17
doing
41:17
better.
41:18
That's
41:19
fundamentally
41:19
the
41:19
value
41:19
prop.
41:20
And
41:21
their
41:21
own
41:21
quotes
41:22
are
41:22
saying
41:22
we
41:23
want
41:23
you
41:23
in
41:23
and
41:24
out.
41:24
Very
41:24
convenient.
41:25
Hey,
41:25
you
41:26
just
41:26
have
41:26
a
41:26
few
41:26
minutes
41:26
on
41:26
a
41:26
Wednesday
41:27
night,
41:28
go
41:29
get
41:29
your
41:29
staples,
41:29
right.
41:29
Because
41:30
you're
41:30
not
41:30
going
41:30
to
41:30
get
41:30
a
41:30
super
41:31
wide
41:31
assortment
41:32
of
41:32
things
41:32
in
41:32
experimentation.
41:34
So
41:34
if
41:34
I
41:34
play
41:34
that
41:35
out,
41:35
the
41:35
other
41:35
thing
41:36
by
41:36
the
41:36
way,
41:36
sorry,
41:36
real
41:36
quick,
41:37
is
41:37
that
41:37
they
41:37
are
41:37
going
41:37
to
41:37
be
41:37
E
41:38
comms
41:38
capable.
41:40
I
41:40
saw
41:40
that
41:40
in
41:40
the
41:40
headlines
41:41
as
41:41
well,
41:41
that
41:41
you
41:41
can
41:42
do
41:42
curbside
41:42
pickup
41:43
and
41:43
so
41:43
on.
41:44
So
41:45
they
41:45
want
41:45
you
41:45
in
41:46
and
41:46
out
41:46
or
41:46
maybe
41:46
just
41:46
park
41:47
in
41:47
and
41:47
park
41:47
out
41:48
and
41:48
off
41:48
you
41:48
go
41:48
with,
41:49
with
41:49
your
41:49
goods.
41:50
So
41:50
all
41:50
that
41:50
to
41:50
me
41:50
translates
41:51
to
41:51
this
41:52
is
41:52
almost
41:52
like
41:52
a
41:52
mini
41:53
fulfillment
41:53
center.
41:53
I
41:54
mean
41:54
it
41:54
sounds
41:54
like
41:54
a
41:54
ghost
41:55
store
41:55
in
41:55
some
41:55
ways.
41:56
Right.
41:56
And
41:56
we've
41:56
seen
41:57
other
41:57
retailers
41:57
kind
41:57
of
41:58
experiment
41:58
with
41:58
this.
41:59
You
42:00
know,
42:00
somebody
42:00
comes
42:01
in,
42:01
they
42:01
get
42:01
their
42:01
staples,
42:02
they
42:02
know
42:02
what
42:02
they're
42:02
going
42:03
to
42:03
shop
42:03
for.
42:03
Very
42:03
little
42:04
impulse
42:04
buying
42:05
and
42:06
they're
42:06
in
42:06
and
42:06
out.
42:07
Okay,
42:08
who
42:08
is
42:08
that
42:08
consumer
42:08
and
42:09
how
42:09
many
42:09
dollars
42:10
are
42:10
in
42:10
that
42:11
kind
42:11
of
42:11
trip
42:12
demand
42:12
moment,
42:12
if
42:13
you
42:13
will.
42:13
I
42:13
just
42:14
don't
42:14
know
42:14
that
42:14
it's
42:14
that
42:14
big.
42:15
So
42:16
in
42:16
terms
42:16
of
42:17
retailers
42:17
that
42:18
would
42:18
be
42:18
concerned,
42:19
I
42:20
think
42:20
everyone's
42:20
just
42:21
kind
42:21
of
42:21
going
42:21
to
42:21
be
42:21
on
42:21
a
42:22
bit
42:22
of
42:22
wait
42:22
and
42:22
see.
42:23
Maybe
42:23
the
42:23
ones
42:23
that
42:23
are
42:24
more
42:24
price
42:24
oriented
42:25
probably
42:25
are
42:25
a
42:25
little
42:26
closer
42:27
to
42:27
the
42:28
hot
42:28
zone.
42:29
But
42:30
whether
42:30
this
42:31
format
42:31
does
42:31
well
42:31
or
42:32
not
42:32
and
42:32
they
42:32
get
42:32
to
42:32
that
42:32
third
42:33
and
42:33
fourth
42:33
and
42:33
fifth
42:33
star,
42:34
God
42:34
knows
42:34
where
42:35
is
42:35
going
42:35
to
42:36
depend
42:36
on.
42:36
Is
42:37
there
42:37
actually
42:37
enough
42:37
demand
42:38
out
42:38
there
42:38
for
42:39
a
42:39
pretty
42:39
lock
42:40
and
42:40
load
42:40
trip,
42:41
you
42:41
know,
42:41
a
42:41
replenishment
42:42
of
42:42
sorts?
42:44
Are
42:45
there
42:45
enough
42:45
dollars
42:45
there
42:45
to
42:46
make
42:46
this
42:46
worthwhile
42:46
for
42:47
both
42:47
the
42:47
consumer
42:47
and
42:48
BJ's?
42:49
Right?
42:49
Yeah.
42:50
No,
42:50
I
42:50
think
42:50
you
42:50
bring
42:50
up
42:51
some
42:51
really
42:51
good
42:51
points,
42:52
John.
42:53
I
42:53
looked
42:54
to
42:54
like
42:54
the
42:54
Costco
42:55
early
42:55
opening
42:56
example
42:56
too
42:57
of
42:57
like,
42:57
you
42:58
know,
42:58
when
42:58
you
42:58
eliminate
42:59
some
42:59
of
42:59
those
42:59
friction
43:00
points
43:00
for
43:01
people
43:01
to
43:01
get
43:01
those
43:01
essentials,
43:02
like
43:02
if
43:03
milk,
43:03
bread,
43:03
you
43:04
know,
43:04
produce
43:05
becomes
43:05
lower
43:06
price
43:06
available
43:07
and
43:07
it's
43:07
a
43:08
quicker
43:08
in
43:08
and
43:08
out
43:09
experience
43:09
like
43:09
BJ
43:10
is
43:10
kind
43:10
of
43:11
hammering.
43:11
And
43:12
in
43:12
this
43:12
headline,
43:13
you
43:14
know,
43:14
that
43:14
to
43:15
me
43:15
brings
43:16
issue
43:16
for
43:17
the
43:17
public's
43:18
locations
43:19
in
43:19
Florida,
43:20
the
43:20
regional
43:20
players,
43:20
the
43:20
Winn
43:21
Dixies
43:21
in
43:21
Florida
43:22
that
43:22
are,
43:22
you
43:22
know,
43:22
those,
43:23
that's
43:23
where
43:23
people
43:23
are
43:24
going
43:24
for
43:24
those
43:24
quick
43:25
in
43:25
and
43:25
out
43:25
trips.
43:26
And
43:26
if
43:26
they
43:26
can
43:26
now
43:27
get,
43:27
you
43:27
know,
43:27
bulk
43:28
pricing
43:28
for
43:29
those,
43:29
those
43:29
items
43:30
that
43:30
they
43:30
typically
43:30
are
43:31
doing
43:31
in
43:31
and
43:31
out
43:31
trips
43:32
on,
43:32
I
43:32
think
43:33
that's
43:33
where
43:33
where
43:34
we,
43:34
we
43:34
could
43:34
have
43:35
some
43:35
concern.
43:35
But
43:35
I
43:36
think
43:36
your
43:36
point
43:36
is,
43:37
is
43:37
well
43:37
taken
43:37
in
43:38
that
43:39
there's,
43:39
this
43:39
is
43:40
the
43:40
second
43:40
location
43:41
that
43:41
they
43:41
built.
43:41
So
43:41
what
43:42
kind
43:42
of
43:42
scale
43:42
do
43:43
we
43:43
really
43:43
think
43:43
that
43:43
they're
43:44
going
43:44
to
43:44
get
43:44
and
43:44
how
43:45
much
43:45
of
43:45
an
43:45
impact
43:46
will
43:46
that
43:46
end
43:46
up
43:47
having?
43:48
Ken,
43:48
let's
43:49
go
43:49
to
43:49
you
43:49
next.
43:49
What
43:49
are
43:49
your
43:50
thoughts
43:50
on,
43:50
on
43:50
BJ's
43:51
and
43:51
the
43:51
slower
43:52
price
43:52
format?
43:52
Who
43:52
should
43:53
be
43:53
scared?
43:53
Scared
43:54
and
43:54
the
43:54
other
43:54
regionals
43:55
should
43:55
be
43:55
scared.
43:55
It
43:55
kind
43:55
of
43:56
ties
43:56
nicely
43:56
into
43:56
the
43:56
first
43:57
couple
43:57
of
43:57
topics.
43:58
Amazon's
43:58
closing
43:59
their
44:00
grocery
44:00
offering,
44:01
but
44:01
now
44:01
BJ's
44:02
is
44:02
going
44:02
to
44:02
open
44:02
a
44:02
different
44:02
one.
44:03
It's
44:03
an
44:03
interesting
44:05
dynamic
44:05
for
44:05
me
44:06
because
44:06
they
44:06
talk
44:07
about
44:07
going
44:07
in
44:07
for
44:07
a
44:07
quick
44:08
run
44:08
on
44:08
a
44:08
Wednesday
44:08
night.
44:09
Quite
44:09
honestly,
44:10
when
44:10
I
44:10
go
44:10
to
44:10
Costco
44:10
on
44:11
a
44:11
Wednesday
44:11
night,
44:11
there's
44:12
nobody
44:12
there
44:12
either.
44:13
So
44:13
I
44:13
can
44:13
make
44:13
that
44:13
run
44:13
pretty
44:14
quick.
44:14
So
44:15
it's
44:16
finding
44:16
that
44:16
niche.
44:17
Rhode
44:17
island
44:18
could
44:18
not
44:18
be
44:18
more
44:19
different
44:19
than
44:19
Delray
44:20
Beach.
44:21
So
44:21
I'm
44:22
fascinated
44:22
as
44:22
to
44:22
how
44:23
they're
44:23
figuring
44:23
out
44:23
their
44:23
demographics
44:24
and
44:24
what
44:24
they're
44:25
shooting
44:25
at.
44:25
But
44:26
yeah,
44:26
you
44:26
know,
44:27
well,
44:27
they
44:27
can
44:28
give
44:28
it
44:28
a
44:28
go.
44:28
It's
44:28
going
44:28
to
44:28
be
44:29
interesting.
44:29
I,
44:29
I
44:29
think
44:30
unfortunately
44:30
too
44:30
many
44:30
people
44:31
are
44:31
getting
44:31
used
44:32
to
44:32
saying,
44:32
well,
44:32
I'll
44:33
just
44:33
order
44:33
something
44:33
and
44:34
maybe
44:34
the
44:34
online
44:35
drive
44:35
through
44:35
pickup,
44:36
excuse
44:36
me,
44:36
will,
44:36
will
44:37
work
44:37
for
44:37
them.
44:38
But
44:38
more
44:39
and
44:39
more
44:39
people
44:39
are
44:39
saying,
44:40
I'm
44:40
not
44:40
even
44:40
going
44:40
to
44:40
go
44:41
out
44:41
on
44:41
a
44:41
Wednesday
44:41
night.
44:42
I'm
44:42
just
44:42
going
44:42
to
44:42
have
44:42
it
44:43
get
44:43
delivered
44:43
to
44:43
me
44:43
by
44:44
some
44:45
retiree
44:45
in
44:46
Florida,
44:46
which,
44:46
the
44:46
last
44:47
time
44:47
I
44:47
checked,
44:47
there's
44:47
a
44:47
couple.
44:48
So
44:48
we'll
44:48
see
44:48
how
44:48
that
44:49
works
44:49
out.
44:49
Yeah,
44:50
40%
44:50
or
44:51
something.
44:51
I
44:51
think
44:52
I
44:52
just
44:52
heard
44:52
of
44:53
the
44:53
population
44:53
in
44:54
Florida
44:54
are
44:55
still
44:55
buried.
44:56
Residents
44:56
and
44:56
retirees.
44:58
Okay,
44:58
Chris,
44:59
what,
44:59
what
44:59
do
44:59
you
44:59
think?
45:00
Who,
45:00
who
45:01
should
45:01
be
45:01
worried?
45:02
Yeah,
45:03
I
45:03
mean,
45:03
I
45:03
think,
45:03
you
45:03
know,
45:04
I
45:04
think
45:04
it's
45:04
interesting
45:04
that
45:04
you
45:04
guys,
45:05
you
45:05
guys
45:05
think
45:05
these
45:05
stores
45:06
are
45:06
so
45:06
dissimilar.
45:07
I
45:07
actually
45:07
think
45:07
they're
45:08
closer
45:09
than
45:09
they
45:09
appear
45:10
in
45:10
the
45:10
mirror
45:10
because
45:11
if
45:11
you
45:11
think
45:12
about
45:12
where
45:12
the
45:12
first
45:12
one
45:12
is,
45:13
it's
45:13
right
45:13
in
45:13
BJ's
45:14
backyard.
45:14
Right.
45:15
And
45:15
so,
45:15
so
45:15
BJ's,
45:16
I
45:16
think
45:16
is
45:16
looking
45:17
that
45:17
at
45:17
that
45:17
as
45:17
the
45:18
first
45:18
experiment.
45:18
And
45:19
I
45:19
kudos
45:19
to
45:19
them
45:19
for
45:20
taking
45:20
time
45:20
to
45:21
roll
45:21
out
45:21
the
45:21
second
45:22
one
45:22
because
45:22
that
45:22
tells
45:23
me
45:23
that
45:24
they
45:24
waited
45:25
potentially
45:26
to
45:26
get
45:27
the
45:27
operations
45:28
down
45:28
to
45:28
the
45:28
point
45:28
where
45:29
they
45:29
felt
45:29
confident
45:30
they
45:30
could
45:30
roll
45:30
it.
45:30
So
45:31
where
45:31
do
45:31
they
45:31
take
45:31
it?
45:31
Well,
45:31
they
45:32
take
45:32
it
45:32
down
45:32
to
45:32
Florida
45:32
where
45:33
there's
45:33
a
45:33
lot
45:33
of
45:33
East
45:33
Coasters
45:34
that
45:35
probably
45:35
already
45:35
have
45:35
familiarity
45:36
with
45:36
the
45:36
brand.
45:37
And
45:37
every
45:38
East
45:38
Coaster,
45:38
when
45:38
they
45:38
come
45:39
down
45:39
there
45:39
for
45:39
the
45:39
weekend,
45:40
for
45:40
the
45:40
week,
45:40
for
45:41
the,
45:41
the
45:41
six
45:41
months
45:42
period
45:42
when
45:42
they're
45:42
snowboarding,
45:43
whatever
45:44
is
45:44
already
45:44
going
45:44
to
45:44
have
45:44
the
45:45
BJ's
45:45
membership.
45:46
So
45:46
that's
45:46
sticky.
45:47
And
45:47
they're
45:47
going
45:47
to
45:47
have
45:48
the
45:48
experience.
45:48
And
45:48
now
45:48
they're
45:48
going
45:49
to
45:49
be
45:49
like,
45:49
maybe
45:49
I'll
45:50
try
45:50
this.
45:50
So,
45:50
yes,
45:50
I
45:50
agree.
45:51
The
45:51
regional
45:51
grocers
45:52
are
45:52
at
45:52
risk
45:52
here.
45:53
I
45:53
think
45:53
this
45:53
is
45:53
a
45:54
concept
45:54
actually
45:54
that
45:54
everyone
45:55
needs
45:55
to
45:55
be
45:55
watching
45:56
for
45:56
that
45:56
reason.
45:56
Because
45:56
if
45:57
you
45:57
can
45:57
make
45:57
a
45:57
club
45:58
experience
45:58
work
45:58
in
45:59
50,000
45:59
square
46:00
feet,
46:00
it's
46:00
huge.
46:01
Now
46:01
can
46:01
they.
46:02
I
46:02
don't
46:02
know
46:02
if
46:02
they
46:02
can
46:02
make
46:03
it
46:03
work
46:03
in
46:03
Florida.
46:03
They
46:03
might
46:03
be
46:04
able
46:04
to
46:04
make
46:04
it
46:04
work
46:04
in
46:04
their
46:04
own
46:04
backyard.
46:05
But
46:05
the
46:06
one,
46:06
the
46:06
one
46:06
big,
46:07
the
46:07
one
46:07
retailer
46:07
that
46:08
I
46:08
think
46:08
needs
46:08
to
46:08
be
46:08
paying
46:09
really
46:09
close
46:09
attention
46:09
to
46:09
this,
46:10
it's
46:10
not
46:10
going
46:10
to
46:10
surprise
46:10
anyone
46:11
is
46:11
Target,
46:11
because
46:12
Target
46:12
has
46:12
always
46:13
had
46:13
that
46:13
reputation
46:13
as
46:14
the
46:14
place
46:14
you
46:14
go
46:15
when
46:15
you're
46:15
on
46:15
vacation.
46:16
And
46:16
this
46:17
could
46:17
take
46:17
that
46:18
away.
46:18
All
46:19
right,
46:19
let's
46:20
go
46:20
to
46:20
the
46:20
lightning
46:21
round.
46:21
We're
46:22
almost
46:22
done.
46:22
You
46:23
guys
46:23
have
46:23
been
46:23
so
46:23
good
46:24
for
46:24
sticking
46:25
with
46:25
us.
46:26
Ken,
46:26
you
46:26
get
46:26
the
46:27
first
46:27
question
46:27
here,
46:27
and
46:28
I'm
46:28
really,
46:28
really
46:29
excited.
46:30
Being
46:30
a
46:30
lover
46:30
of
46:31
fashion,
46:32
your
46:32
former
46:33
former
46:33
alma
46:33
mater,
46:34
Ralph
46:34
Lauren
46:35
designed
46:35
the
46:36
USA
46:36
team
46:36
uniforms
46:38
for
46:38
the
46:38
Winter
46:38
Olympics,
46:39
which
46:40
begin
46:40
this
46:41
Friday.
46:41
What
46:42
is
46:42
your
46:42
favorite
46:43
piece
46:43
from
46:43
the
46:43
Ralph
46:44
Lauren
46:44
Team
46:45
USA
46:45
collection?
46:47
Well,
46:47
I
46:47
actually
46:47
was
46:48
involved
46:48
in
46:48
these
46:48
things
46:49
when
46:49
I
46:49
was
46:49
there
46:50
getting
46:50
ready
46:51
for
46:51
the,
46:51
the
46:51
Olympic
46:52
teams
46:52
and
46:52
some
46:53
of
46:53
these
46:53
things.
46:53
So
46:53
this
46:54
is,
46:54
this
46:54
is
46:54
near
46:55
and
46:55
dear
46:55
to
46:55
my
46:55
heart.
46:57
I,
46:57
I
46:57
always
46:58
like
46:58
the
46:58
ear
46:58
flap
46:59
hat,
46:59
the
46:59
little
46:59
toboggan,
47:00
like,
47:00
you
47:01
know,
47:01
that's
47:01
a
47:01
great
47:01
one.
47:02
If
47:02
I
47:02
was
47:02
way
47:03
cooler,
47:03
I'd
47:03
get
47:03
a,
47:04
the
47:04
opening
47:05
ceremony
47:05
toggle
47:05
coat.
47:06
But
47:06
I'm,
47:06
I'm
47:07
too
47:07
old
47:07
to
47:07
be
47:07
cool,
47:08
so.
47:08
But
47:08
if
47:08
I
47:09
was
47:09
young,
47:09
if
47:09
I
47:09
would
47:10
get
47:10
that
47:11
then.
47:12
But
47:12
if
47:12
I
47:13
were
47:13
to
47:13
go,
47:13
if
47:13
I
47:13
were
47:14
to
47:14
go
47:14
core
47:14
Ken
47:15
fashion,
47:15
I
47:16
would
47:16
get
47:16
a.
47:16
I
47:16
like
47:16
the
47:17
base
47:17
layer
47:17
shirt.
47:18
It's
47:18
nice
47:18
and
47:18
simple.
47:18
Got
47:19
some
47:19
cool
47:19
logoing.
47:20
Or
47:20
you
47:20
got
47:21
to
47:21
go
47:21
the
47:21
polo
47:21
bear
47:22
T
47:22
shirt
47:22
or
47:22
hoodie.
47:23
You
47:23
can't
47:23
ever,
47:24
can't
47:24
ever
47:24
beat
47:24
the
47:25
Olympic
47:25
polo
47:25
bear.
47:26
And
47:26
if
47:26
I
47:26
was
47:26
going
47:26
to
47:27
get
47:27
a
47:27
little
47:27
crazy,
47:27
like,
47:28
you
47:28
know,
47:28
in
47:28
my
47:28
fashion
47:29
statement,
47:29
I
47:29
might
47:29
go
47:30
for
47:30
the,
47:31
the
47:31
Team
47:31
USA
47:32
track
47:32
jacket.
47:33
It's
47:33
got
47:33
some
47:33
really
47:34
cool
47:34
features.
47:35
But
47:35
people,
47:36
people
47:36
will
47:36
generally
47:37
tell
47:37
you
47:37
that
47:37
my
47:37
fashion
47:38
sense
47:38
looks
47:38
like
47:38
I,
47:40
I
47:40
haven't
47:40
left
47:40
the
47:41
1990s
47:42
or
47:42
something,
47:42
or
47:43
maybe
47:43
70s,
47:43
but
47:44
we'll
47:44
see.
47:44
Ken,
47:45
those
47:45
polar
47:46
bear
47:46
T
47:46
shirts
47:46
are
47:47
selling
47:47
out
47:47
with
47:47
Gen
47:48
Z.
47:48
They're
47:48
like
47:48
reselling
47:49
on
47:49
some
47:50
of
47:50
the
47:50
sites
47:50
for
47:50
hundreds
47:51
of
47:51
dollars.
47:51
So
47:51
I
47:51
actually
47:52
think
47:52
you
47:52
have
47:52
it
47:52
flipped.
47:53
Like,
47:53
maybe,
47:54
maybe
47:54
you
47:55
are
47:55
more
47:55
fashion
47:56
forward
47:56
than
47:56
you
47:56
think
47:57
with
47:57
the
47:57
toggle
47:58
coat
47:58
than
47:58
that
47:59
or
47:59
with
47:59
the
47:59
bear
48:00
T
48:00
shirt
48:01
than
48:01
you
48:01
are
48:01
with
48:01
a
48:01
toggle
48:02
coat
48:02
out.
48:02
Well,
48:03
the
48:03
amazing.
48:04
The
48:04
amazing
48:04
thing
48:05
about
48:05
this
48:05
is
48:05
I
48:05
was
48:05
on
48:06
the
48:06
site
48:06
kind
48:06
of
48:06
getting
48:07
ready
48:07
for
48:07
today,
48:08
and
48:08
almost
48:09
everything
48:09
sold
48:10
out.
48:10
It
48:10
is
48:10
unbelievable
48:11
to
48:12
me.
48:12
A
48:13
ear
48:13
flap
48:14
knitted
48:15
ski
48:15
cap
48:15
is
48:16
for
48:16
400
48:17
bucks
48:17
is
48:17
sold
48:18
out.
48:18
So
48:19
kudos
48:19
to
48:20
Ralph
48:20
Lauren.
48:20
They
48:20
always
48:20
figured
48:21
out
48:21
a
48:21
way
48:21
to
48:21
tell
48:21
a
48:21
story
48:22
and
48:22
they've
48:22
done
48:22
some
48:22
great
48:22
things
48:23
for
48:23
the
48:23
Olympians
48:23
over
48:23
the
48:24
years.
48:25
Yeah.
48:25
And
48:26
I
48:26
can't.
48:26
I
48:26
can't
48:26
wait
48:26
to
48:27
watch
48:27
Lindsey
48:27
Vaughn
48:27
in
48:27
the
48:28
downhill
48:28
on
48:28
the.
48:28
A
48:28
torn
48:29
ACL
48:29
that
48:30
she
48:30
just
48:30
suffered.
48:31
Like,
48:31
that's
48:31
just
48:31
nuts
48:31
that
48:32
she's
48:32
going
48:32
to
48:32
do
48:32
the
48:32
downhill
48:33
on
48:33
a
48:33
torn
48:33
acl.
48:34
But
48:34
anyway.
48:34
All
48:34
right,
48:35
Ken,
48:35
next
48:35
one
48:36
Cracker
48:37
Barrel
48:37
issued
48:37
a
48:38
mandate,
48:38
according
48:38
to
48:39
the
48:39
Wall
48:39
Street
48:39
Journal,
48:39
that,
48:40
quote,
48:40
employees
48:40
are
48:41
expected
48:41
to
48:41
dine
48:42
at
48:42
a
48:42
Cracker
48:43
Barrel
48:43
store
48:43
for
48:44
all
48:44
or
48:44
the
48:45
majority
48:45
of
48:45
meals
48:46
while
48:46
traveling
48:47
whenever
48:47
practical,
48:48
based
48:48
on
48:48
location
48:49
and
48:49
schedule,
48:50
end
48:50
quote.
48:50
So
48:51
my
48:51
question
48:51
for
48:51
you,
48:51
Ken,
48:52
is
48:52
if
48:52
you
48:52
had
48:52
to
48:52
work
48:52
under
48:53
this
48:53
type
48:53
of
48:53
mandate
48:54
or
48:54
regime,
48:55
what
48:55
national
48:56
restaurant
48:56
chain
48:57
would
48:57
you
48:57
most
48:57
want
48:58
to
48:58
work
48:58
at?
48:59
Well,
48:59
I'm
49:00
known
49:00
to
49:00
have
49:00
a
49:01
very
49:01
fine
49:01
culinary
49:02
palate.
49:02
So
49:03
my
49:03
first
49:03
answer
49:04
to
49:04
this
49:04
question
49:04
was
49:04
Taco
49:05
Bell.
49:06
Okay.
49:06
Because.
49:07
Because
49:07
of
49:08
how
49:08
just
49:08
how
49:08
discriminating
49:09
I
49:09
am.
49:10
But
49:10
then
49:10
upon
49:10
a
49:11
little
49:11
bit
49:11
of
49:11
further
49:11
reflection,
49:12
I
49:12
decided
49:12
to
49:13
go
49:13
Ruth
49:13
Chris,
49:13
because
49:14
maybe
49:15
there's
49:15
no
49:15
breakfast,
49:16
limited
49:16
lunch.
49:17
And
49:17
then
49:17
if
49:17
I
49:17
figure
49:17
Ruth
49:18
Chris,
49:18
you
49:18
know,
49:18
if
49:18
I
49:18
work
49:19
for
49:19
them,
49:19
I'd
49:19
love
49:20
to
49:20
be
49:20
able
49:20
to
49:20
have
49:20
to
49:20
go
49:20
there
49:21
for
49:21
every
49:21
meal.
49:21
So
49:21
that,
49:22
that's
49:22
my.
49:22
That's
49:23
my
49:23
insights.
49:24
That's
49:24
a
49:24
really
49:25
good
49:25
call.
49:25
Man.
49:26
I
49:26
didn't
49:26
even
49:26
think
49:26
about
49:26
that.
49:27
That
49:27
didn't
49:27
enter
49:27
my
49:28
consideration
49:28
set.
49:28
Taco
49:29
Bell,
49:29
I
49:29
can't
49:29
get
49:29
on
49:30
board
49:30
with.
49:30
But
49:30
Ruth
49:30
Chris,
49:31
that's
49:31
strong.
49:31
Strong
49:32
to
49:32
quite
49:32
strong.
49:33
Well,
49:33
I
49:33
got
49:34
to
49:34
work
49:34
on
49:34
your
49:34
palette
49:35
there.
49:35
You
49:35
know,
49:36
all
49:36
my
49:36
colleagues
49:36
will
49:37
laugh
49:37
at
49:37
me
49:37
saying
49:38
Taco
49:38
Bell
49:38
because
49:39
they
49:39
understand
49:39
my
49:40
discerning
49:40
palette.
49:41
But
49:41
I
49:41
have
49:41
pivoted
49:42
now
49:42
to
49:42
Ruth
49:43
Chris,
49:43
so
49:43
you
49:43
can
49:44
run
49:44
with
49:44
that
49:44
one.
49:45
Oh,
49:45
my
49:45
gosh.
49:46
Okay.
49:47
John,
49:47
Winter
49:47
weather
49:48
has
49:48
been
49:48
pulverizing
49:49
the
49:49
US
49:49
in
49:49
the
49:49
last
49:50
couple
49:50
of
49:50
weeks.
49:50
Weeks.
49:51
Especially
49:52
those
49:53
people
49:53
out
49:53
on
49:53
the
49:54
East
49:54
Coast.
49:54
So
49:54
I
49:55
have
49:55
to
49:55
know,
49:55
where
49:56
is
49:56
your
49:57
go
49:57
to
49:57
winter
49:58
travel
49:58
destination?
50:00
So
50:00
I
50:00
have
50:01
a
50:01
lot
50:01
of
50:01
fond
50:02
memories
50:02
at
50:03
Snowbird
50:04
Ski
50:04
Resort
50:09
as
50:09
well.
50:09
You
50:09
Know,
50:09
you
50:09
can
50:10
do
50:10
the
50:10
combo
50:10
pass
50:11
there.
50:12
It's
50:12
been
50:12
a
50:12
little
50:12
bit
50:13
since
50:13
I've
50:13
had
50:13
the
50:13
pleasure
50:13
of
50:14
going,
50:15
partially
50:15
because,
50:15
you
50:16
know,
50:16
the
50:16
weather
50:16
hasn't
50:17
been
50:17
so
50:18
conducive
50:18
to
50:18
it
50:18
over
50:19
the
50:19
last
50:19
several
50:20
years.
50:20
But
50:21
that
50:21
would
50:21
be
50:21
top
50:21
of
50:22
my
50:22
list
50:22
for
50:22
sure.
50:22
I
50:23
thought
50:23
of
50:23
it
50:23
the
50:23
second
50:24
I
50:24
read
50:24
that
50:24
question.
50:25
Not
50:25
the
50:26
year
50:26
to
50:26
go
50:26
there
50:27
this
50:27
year.
50:27
Man,
50:28
they
50:28
are
50:28
really
50:30
missing
50:30
some
50:30
snow
50:31
up
50:31
at
50:31
Snowbird
50:32
and
50:32
Alta
50:32
this
50:33
year,
50:33
too.
50:34
I
50:35
can
50:35
tell
50:35
John
50:35
doesn't
50:35
live
50:36
where
50:36
we
50:36
live,
50:36
too,
50:36
and
50:37
because
50:37
I
50:37
don't
50:37
think
50:37
the
50:38
last
50:38
place
50:38
I'd
50:38
want
50:38
to
50:38
go
50:39
is
50:39
somewhere
50:39
cold,
50:40
given
50:40
the
50:40
weather
50:41
in
50:41
Minneapolis,
50:41
but.
50:42
All
50:42
right,
50:43
John.
50:43
Kelly
50:43
Clarkson's
50:44
daytime
50:44
talk
50:45
show
50:45
is
50:45
coming
50:45
to
50:45
an
50:46
end
50:46
after
50:46
seven
50:47
years.
50:47
Yes.
50:48
That's
50:48
sad
50:48
but
50:48
true.
50:49
What
50:49
is
50:49
your
50:50
favorite
50:50
Kelly
50:51
Clarkson
50:51
song?
50:53
So
50:54
I'm
50:54
gonna.
50:54
I
50:55
don't
50:55
know
50:55
if
50:55
this
50:55
is
50:55
a
50:55
cop
50:55
out
50:56
or
50:56
not,
50:56
but
50:56
I'm
50:56
gonna
50:57
take
50:57
the
50:57
first
50:57
one.
50:57
A
50:57
moment
50:58
like
50:58
this.
50:58
I
50:59
mean,
50:59
is
50:59
there.
50:59
Is
51:00
there
51:00
any.
51:00
Any
51:00
other
51:01
option?
51:01
I.
51:02
I
51:02
was
51:02
not
51:02
a
51:02
huge
51:02
American
51:03
Idol
51:03
fan
51:04
that
51:04
first
51:04
season,
51:04
but
51:05
I
51:05
do
51:05
still
51:06
remember
51:06
watching
51:07
her
51:07
perform
51:08
after
51:08
she,
51:08
you
51:09
know,
51:09
was
51:09
awarded
51:10
the.
51:10
The
51:10
winner.
51:11
And
51:11
that
51:11
was
51:12
that
51:12
first
51:12
song.
51:12
Right,
51:12
that
51:13
they.
51:13
That
51:13
they
51:13
did
51:14
in
51:14
her
51:14
first.
51:14
First
51:15
hit.
51:15
I
51:15
can
51:15
still
51:16
hear
51:16
it.
51:16
I
51:16
can
51:16
still
51:16
see
51:17
her,
51:17
you
51:17
know,
51:17
on
51:17
stage
51:18
belting
51:18
it
51:18
out
51:18
as
51:19
she
51:19
knew
51:19
she
51:20
was
51:20
when
51:20
it
51:20
had
51:20
won
51:21
and,
51:21
you
51:21
know,
51:21
tears
51:21
going
51:21
down
51:22
her
51:22
face.
51:22
So.
51:23
Nice.
51:23
Nice.
51:24
That's
51:24
gonna
51:24
be
51:24
my
51:24
pick.
51:25
Nice.
51:25
I
51:26
know,
51:26
Ken,
51:26
you're.
51:27
You're
51:27
chopping
51:27
it
51:27
the
51:27
bit
51:27
to
51:28
get
51:28
it
51:28
on
51:28
this
51:28
lightning
51:29
question.
51:29
What's
51:29
your
51:29
answer?
51:30
I.
51:30
I
51:30
wanted
51:31
this
51:31
one
51:31
so
51:31
bad,
51:31
so.
51:32
But.
51:33
So
51:33
I.
51:33
I.
51:34
Because
51:34
of
51:34
the
51:34
departure
51:35
motif
51:35
of
51:35
her
51:35
leaving,
51:36
I
51:36
was
51:36
about
51:36
to
51:36
go
51:36
with
51:37
since
51:37
you've
51:37
been
51:37
gone,
51:38
but
51:38
I
51:39
didn't.
51:41
It's
51:41
the
51:41
only
51:41
answer.
51:42
Well,
51:43
see,
51:43
I.
51:43
I
51:43
had
51:43
a
51:44
pivot,
51:44
but
51:44
because
51:45
I.
51:45
I
51:45
live
51:46
by
51:46
these
51:46
words
51:46
I
51:46
tell
51:47
my
51:47
kids
51:47
and
51:47
other
51:47
people
51:48
all
51:48
the
51:48
time,
51:48
I
51:48
go,
51:49
what
51:49
does
51:49
not
51:49
kill
51:49
you
51:50
makes
51:50
you
51:50
stronger.
51:51
So
51:51
stronger
51:52
is
51:52
my
51:52
ultimate
51:53
recommendation.
51:53
So.
51:54
Because
51:54
I'm
51:54
a
51:54
big
51:54
believer
51:55
in
51:55
what
51:55
does
51:56
not
51:56
kill
51:56
you
51:56
makes
51:56
you
51:56
stronger,
51:57
so.
51:57
So
51:58
I
51:58
went.
51:58
I
51:58
went
51:58
stronger
51:59
at
51:59
the
51:59
end
51:59
of
51:59
the
51:59
day.
52:00
Yeah,
52:01
you
52:01
know,
52:01
I
52:01
might
52:01
have
52:02
to
52:02
go
52:02
with
52:02
my
52:02
life
52:02
would
52:02
suck
52:03
without
52:03
you
52:04
too,
52:04
because.
52:05
And
52:05
producer
52:05
Ella.
52:06
My
52:06
life
52:07
would
52:07
definitely
52:07
suck
52:07
without
52:08
you.
52:08
So
52:08
what.
52:08
What
52:09
is
52:09
your.
52:09
Your
52:10
favorite
52:10
Kelly
52:10
Clarkson
52:11
song
52:11
as
52:11
you're
52:11
sitting
52:12
in
52:12
the
52:12
background
52:12
smiling
52:13
away?
52:13
I'm
52:14
so
52:14
excited,
52:15
Ken,
52:15
that
52:15
you
52:15
picked
52:16
since
52:16
youe've
52:16
been
52:16
Gone,
52:16
because
52:17
I
52:17
stand
52:17
behind
52:18
that
52:18
being
52:18
the
52:19
ultimate
52:19
karaoke
52:20
song.
52:20
The
52:21
ultimate
52:21
karaoke
52:22
song.
52:22
All
52:22
right.
52:22
Wow,
52:23
that's
52:23
great.
52:23
All
52:23
right,
52:24
Ella,
52:24
what
52:25
producer
52:25
Ella,
52:25
What.
52:26
What
52:26
headline
52:27
caught
52:27
your
52:27
fancy
52:28
this
52:28
week?
52:29
Yeah,
52:29
this
52:29
was
52:29
a
52:29
hard
52:30
one.
52:30
And
52:30
I'm
52:30
going
52:30
to
52:31
kind
52:31
of
52:31
build
52:31
off
52:32
of
52:32
what
52:32
you
52:32
all
52:32
said
52:33
about
52:33
Amazon
52:33
shutting
52:34
down
52:34
its
52:34
palm
52:34
payment
52:35
technology.
52:36
But,
52:37
Ken,
52:37
what
52:38
you
52:38
said
52:38
about
52:38
gen
52:39
zers
52:39
like
52:39
myself
52:40
and
52:40
maybe
52:40
that
52:41
technology
52:43
being
52:43
more
52:44
towards
52:44
them.
52:45
I
52:45
was
52:46
reflecting
52:46
on
52:46
my
52:47
time
52:47
at
52:47
Whole
52:47
Foods
52:48
and
52:48
I
52:48
saw
52:49
this
52:49
palm
52:49
payment
52:50
technology
52:51
and
52:52
I
52:52
found
52:52
myself
52:53
in
52:53
this
52:53
place
52:54
of
52:54
feeling
52:54
embarrassed
52:55
to
52:55
set
52:56
it
52:56
up.
52:56
Like,
52:56
I'm
52:57
standing
52:57
in
52:57
this
52:58
self
52:58
checkout.
52:59
No
52:59
one's
53:00
really
53:00
adopting
53:00
it.
53:00
Right.
53:01
And
53:02
having
53:02
this
53:03
concept
53:03
of
53:04
some
53:04
grocer
53:05
having
53:06
this
53:06
biometric
53:07
data
53:07
on
53:07
me,
53:08
that
53:08
scared
53:08
me
53:08
a
53:09
little
53:09
bit.
53:09
And
53:09
so
53:10
the
53:10
customer
53:11
adoption,
53:11
I'm
53:12
not
53:12
that
53:12
shocked
53:13
that
53:13
people
53:13
like
53:14
me
53:15
did
53:15
not
53:15
pick
53:15
up
53:16
on
53:16
it.
53:17
So,
53:17
yeah,
53:18
honestly,
53:19
it's
53:19
more
53:19
effort
53:20
to
53:20
set
53:20
up
53:21
and
53:21
at
53:22
least
53:22
the
53:22
thought
53:22
of
53:22
it
53:23
than
53:23
just
53:24
using
53:24
my
53:24
phone.
53:24
Yeah,
53:25
that
53:25
was
53:25
a
53:25
big
53:25
takeaway.
53:25
Anna
53:26
and
53:26
I
53:26
shot
53:26
a
53:26
video
53:27
at
53:27
the
53:27
Mall
53:27
of
53:27
America
53:28
when,
53:28
remember,
53:29
John,
53:29
you
53:29
were
53:29
joking
53:30
about
53:30
the
53:30
Amazon
53:31
fire.
53:31
But
53:31
we
53:32
went
53:32
into
53:32
Amazon
53:32
four
53:33
Star,
53:33
which
53:33
we
53:33
joked
53:34
about
53:34
on
53:34
a
53:34
recent
53:34
podcast
53:35
too.
53:35
And
53:35
I
53:35
remember
53:35
our
53:35
takeaway
53:36
was
53:36
like,
53:37
it
53:37
takes
53:37
a
53:37
while
53:37
to
53:38
set
53:38
up.
53:38
It's
53:38
cool.
53:38
Once
53:39
you
53:39
get
53:39
it,
53:39
you
53:39
once
53:40
you
53:40
can
53:40
use
53:40
it.
53:40
And
53:40
it's
53:41
been
53:41
fun
53:41
to
53:41
use
53:41
ever
53:42
since.
53:42
But
53:42
like,
53:42
your
53:42
point
53:43
about
53:43
the
53:43
setup
53:44
is
53:44
just
53:44
really
53:44
true.
53:45
And
53:45
like,
53:45
I
53:45
think
53:45
we
53:45
even
53:46
said
53:46
coming
53:46
out
53:46
there,
53:46
we're
53:46
like,
53:47
man,
53:47
could
53:47
just
53:47
use
53:47
my
53:48
phone
53:48
just
53:48
as
53:48
easily.
53:49
So,
53:49
yeah.
53:49
All
53:50
right,
53:50
well,
53:50
happy
53:51
birthday
53:51
today
53:51
to
53:51
Gabrielle
53:52
Anwar
53:53
Michael
53:53
Beck
53:54
of
53:54
Warriors
53:54
fame.
53:55
And
53:55
to
53:55
the
53:55
woman
53:55
who
53:55
gave
53:56
us
53:56
Private
53:56
Vasquez
53:57
in
53:57
Aliens,
53:58
the
53:58
underappreciated
53:59
Jeanette
54:00
Goldstein.
54:01
And
54:01
remember,
54:02
if
54:02
you
54:02
can
54:02
only
54:02
read
54:02
or
54:02
listen
54:03
to
54:03
one
54:03
retail
54:03
blog
54:04
in
54:04
the
54:04
business,
54:04
Make
54:04
It
54:05
Omnitok,
54:05
the
54:05
only
54:05
retail
54:06
media
54:06
outlet
54:06
run
54:07
by
54:07
two
54:07
former
54:07
executives
54:08
from
54:08
a
54:08
current
54:08
top
54:09
10
54:09
US
54:09
retailer.
54:10
Our
54:10
Fast
54:10
Five
54:10
podcast
54:11
is
54:11
the
54:11
quickest,
54:11
fastest
54:12
rundown
54:12
of
54:12
all
54:12
the
54:12
week's
54:13
top
54:13
news
54:13
in
54:14
our
54:14
daily
54:14
newsletter.
54:14
The
54:14
Retail
54:15
Daily
54:15
Minute
54:15
tells
54:15
you
54:16
all
54:16
you
54:16
need
54:16
to
54:16
know
54:16
each
54:16
day
54:17
to
54:17
stay
54:17
on
54:17
top
54:17
of
54:17
your
54:17
game
54:18
as
54:18
a
54:18
retail
54:18
executive
54:19
and
54:19
also
54:19
regularly
54:20
feature
54:20
special
54:21
content
54:22
that
54:22
is
54:22
exclusive
54:22
to
54:22
us
54:22
and
54:23
that
54:23
Ann
54:23
and
54:23
I
54:23
take
54:23
a
54:23
lot
54:24
of
54:24
pride
54:24
in
54:24
doing
54:24
just
54:24
for
54:25
you.
54:25
Thanks
54:25
as
54:25
always
54:25
for
54:26
listening
54:26
in.
54:26
Please
54:26
remember
54:26
to
54:27
like
54:27
and
54:27
leave
54:27
us
54:27
a
54:27
review
54:28
wherever
54:28
you
54:28
happen
54:29
to
54:29
listen
54:29
to
54:29
your
54:30
podcast
54:30
or
54:30
on
54:31
YouTube.
54:31
John,
54:32
if
54:32
people
54:32
want
54:32
to
54:32
get
54:33
in
54:33
touch
54:33
with
54:33
you,
54:34
with
54:34
anyone
54:34
at
54:35
A
54:35
and
54:35
M,
54:35
what's
54:35
the
54:35
best
54:36
way
54:36
for
54:36
them
54:36
to
54:36
do
54:36
that?
54:37
Absolutely.
54:38
Just
54:38
want
54:38
to
54:38
share
54:38
a
54:38
couple
54:38
of
54:39
ways
54:39
to
54:39
do
54:39
that.
54:40
So
54:40
first
54:41
of
54:41
all,
54:41
our
54:42
website
54:42
is
54:43
www.alvarezmarcel.
54:46
c.
54:48
I'll
54:48
just
54:48
spell
54:48
that
54:49
real
54:49
quick.
54:50
A
54:50
L
54:50
V
54:51
A
54:51
R
54:51
E
54:52
Z
54:52
Alvarez
54:53
A
54:53
N
54:53
D
54:54
and
54:54
then
54:54
M
54:55
A
54:55
R
54:56
s
54:56
a
54:56
l
54:56
marcel-crg
54:59
for
54:59
consumer
55:00
retail
55:01
group.com
55:02
you
55:02
can
55:02
also
55:02
find
55:02
us
55:03
on
55:03
LinkedIn
55:03
very
55:03
easily.
55:04
Just
55:04
search
55:04
for
55:04
Alvarez
55:05
Marcel
55:05
Consumer
55:05
and
55:05
Retail
55:06
Group
55:07
and
55:07
follow
55:08
us
55:08
there
55:08
or
55:08
feel
55:09
free
55:09
to
55:09
message.
55:10
Awesome.
55:11
Well,
55:11
John,
55:12
Ken,
55:12
thank
55:12
you
55:13
so
55:13
much
55:13
for
55:13
joining
55:13
us
55:13
today.
55:14
It
55:14
was
55:14
a
55:14
great
55:14
discussion.
55:15
If
55:15
you
55:15
want
55:15
to
55:15
watch,
55:16
watch
55:16
it
55:16
back
55:17
live.
55:18
You
55:18
can
55:18
watch
55:18
it
55:18
on
55:18
YouTube@YouTube.com
55:20
omnietalkretail
55:21
or
55:21
you
55:21
can
55:21
find
55:21
the
55:21
audio
55:22
replay
55:23
of
55:23
this
55:23
podcast
55:23
wherever
55:24
you
55:24
get
55:24
your
55:25
podcast.
55:25
And
55:26
until
55:26
next
55:26
week,
55:26
on
55:27
behalf
55:27
of
55:27
all
55:27
of
55:27
us
55:27
at
55:28
omnitalk,
55:28
on
55:28
behalf
55:28
of
55:28
Anne,
55:29
producer
55:29
Ella
55:30
and
55:30
myself
55:30
and
55:31
our
55:31
friends
55:31
at
55:31
the
55:31
A
55:31
and
55:31
M
55:32
Consumer
55:32
and
55:32
Retail
55:32
Group,
55:33
as
55:33
always,
55:33
be
55:34
careful
55:34
out
55:34
there.