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Transcript

🔹 Inside Lowes Foods’ Digital Strategy: Grocery’s Future with Chad Petersen | FMI 2025 · Omni Talk Retail

• 0:00
  Hello
• 0:00
  everyone,
• 0:01
  this
• 0:01
  is
• 0:01
  Omnitalk
• 0:02
  Retail.
• 0:02
  I'm
• 0:02
  Anne
• 0:02
  Mazenga.
• 0:03
  And
• 0:03
  I'm
• 0:03
  Chris
• 0:03
  Walton.
• 0:04
  And
• 0:04
  we
• 0:04
  are
• 0:04
  here
• 0:04
  for
• 0:04
  our
• 0:05
  last
• 0:05
  interview
• 0:06
  of
• 0:06
  our
• 0:07
  Friday,
• 0:07
  January
• 0:08
  31st
• 0:09
  coverage
• 0:09
  of
• 0:10
  FMI.
• 0:10
  We
• 0:11
  are
• 0:11
  coming
• 0:11
  to
• 0:11
  you
• 0:11
  live
• 0:12
  from
• 0:12
  the
• 0:12
  Simbi
• 0:13
  booth.
• 0:13
  Booth
• 0:14
  number
• 0:14
  108
• 0:14
  will
• 0:14
  be
• 0:14
  here
• 0:15
  tomorrow
• 0:15
  as
• 0:15
  well.
• 0:16
  Yes,
• 0:16
  and
• 0:16
  we
• 0:17
  will
• 0:17
  still
• 0:17
  be
• 0:17
  retail
• 0:18
  single
• 0:18
  source
• 0:18
  of
• 0:18
  truth
• 0:19
  tomorrow
• 0:19
  as
• 0:19
  well.
• 0:20
  Not
• 0:20
  just
• 0:20
  today,
• 0:20
  but
• 0:21
  tomorrow
• 0:21
  as
• 0:21
  well.
• 0:21
  Give
• 0:22
  Chris
• 0:22
  a
• 0:22
  tagline
• 0:22
  and
• 0:23
  he
• 0:23
  will
• 0:23
  not
• 0:23
  forget
• 0:24
  it,
• 0:24
  I
• 0:24
  guarantee
• 0:25
  you.
• 0:25
  But
• 0:26
  more
• 0:26
  importantly,
• 0:27
  we
• 0:27
  have
• 0:28
  a
• 0:28
  long
• 0:29
  time
• 0:29
  Omnitalk
• 0:30
  retailer.
• 0:31
  Well,
• 0:32
  one
• 0:32
  of
• 0:32
  our.
• 0:33
  You're
• 0:33
  one
• 0:33
  of
• 0:33
  our
• 0:33
  fans
• 0:34
  and
• 0:35
  we're
• 0:35
  one
• 0:35
  of
• 0:35
  your
• 0:35
  fans.
• 0:36
  Been
• 0:37
  for
• 0:37
  a
• 0:37
  long
• 0:37
  time.
• 0:38
  We
• 0:39
  have
• 0:39
  Chad
• 0:39
  Peterson,
• 0:40
  the
• 0:40
  SVP
• 0:41
  of
• 0:41
  digital
• 0:41
  at
• 0:41
  Lowe's
• 0:42
  Foods.
• 0:42
  Chad,
• 0:42
  welcome.
• 0:43
  Thanks
• 0:43
  for
• 0:43
  having
• 0:43
  me.
• 0:43
  This
• 0:44
  is
• 0:44
  your
• 0:44
  second
• 0:44
  time
• 0:44
  on,
• 0:45
  on.
• 0:45
  The
• 0:45
  show,
• 0:45
  I
• 0:46
  believe.
• 0:46
  It
• 0:46
  is.
• 0:46
  Yeah.
• 0:47
  We
• 0:47
  had
• 0:47
  a
• 0:47
  great
• 0:47
  podcast
• 0:48
  a
• 0:48
  little
• 0:48
  while
• 0:48
  back.
• 0:48
  Yeah,
• 0:49
  we
• 0:49
  were
• 0:49
  like
• 0:49
  one
• 0:49
  of
• 0:49
  our
• 0:50
  first
• 0:50
  guests
• 0:50
  like
• 0:50
  in
• 0:50
  the
• 0:51
  early,
• 0:51
  early
• 0:51
  years
• 0:51
  of
• 0:52
  Omnitalk.
• 0:52
  So
• 0:52
  yeah,
• 0:53
  it's
• 0:53
  great
• 0:53
  to
• 0:53
  see
• 0:54
  you
• 0:54
  again.
• 0:54
  So
• 0:54
  for
• 0:55
  those
• 0:55
  of,
• 0:55
  for
• 0:55
  those
• 0:55
  that
• 0:55
  are
• 0:56
  maybe
• 0:56
  new
• 0:56
  to
• 0:56
  Omnitalk
• 0:57
  or
• 0:57
  new
• 0:57
  to
• 0:57
  Lowe's,
• 0:58
  like
• 0:58
  explain,
• 0:59
  explain
• 1:00
  a
• 1:00
  little
• 1:00
  bit
• 1:00
  about
• 1:00
  your
• 1:00
  background,
• 1:01
  your
• 1:01
  role,
• 1:01
  because
• 1:02
  it's
• 1:02
  expanded
• 1:02
  recently
• 1:03
  as
• 1:03
  well
• 1:03
  as
• 1:04
  about
• 1:04
  the
• 1:04
  company.
• 1:04
  Yeah.
• 1:05
  So
• 1:05
  been
• 1:06
  in
• 1:06
  digital
• 1:06
  a
• 1:06
  long
• 1:06
  time.
• 1:07
  So
• 1:08
  it's
• 1:08
  actually
• 1:08
  going
• 1:08
  on
• 1:08
  a
• 1:08
  quarter
• 1:09
  century,
• 1:09
  which
• 1:09
  is
• 1:09
  insane.
• 1:10
  I've
• 1:11
  been
• 1:11
  fortunate
• 1:12
  to
• 1:12
  be
• 1:12
  with
• 1:12
  Lowe's
• 1:12
  and
• 1:12
  Alex
• 1:13
  Lee
• 1:13
  for
• 1:13
  the
• 1:13
  last
• 1:14
  seven
• 1:14
  plus
• 1:15
  years
• 1:15
  now.
• 1:15
  And
• 1:15
  that's
• 1:16
  my
• 1:16
  only
• 1:16
  experience
• 1:17
  in
• 1:17
  grocery.
• 1:18
  So
• 1:18
  seven
• 1:19
  years
• 1:19
  in
• 1:19
  grocery.
• 1:20
  So.
• 1:21
  But
• 1:21
  really
• 1:21
  excited,
• 1:22
  kind
• 1:23
  of
• 1:23
  head
• 1:23
  up
• 1:23
  all
• 1:23
  of
• 1:23
  our
• 1:23
  digital
• 1:24
  initiatives
• 1:24
  at
• 1:25
  retail.
• 1:25
  So
• 1:25
  you
• 1:26
  think
• 1:26
  about
• 1:26
  started
• 1:26
  with
• 1:27
  E
• 1:27
  Commerce
• 1:27
  and
• 1:27
  it's
• 1:27
  grown
• 1:28
  quite
• 1:28
  significantly
• 1:29
  into
• 1:30
  Omni
• 1:30
  and
• 1:30
  how
• 1:31
  do
• 1:31
  we
• 1:31
  look
• 1:31
  at
• 1:31
  things
• 1:31
  across
• 1:32
  the
• 1:32
  store?
• 1:33
  And
• 1:33
  of
• 1:33
  course
• 1:34
  Lowe's
• 1:34
  Foods
• 1:34
  is
• 1:34
  part
• 1:34
  of
• 1:35
  Alex
• 1:35
  Lee
• 1:35
  Retail,
• 1:35
  which
• 1:36
  is
• 1:36
  part
• 1:36
  of
• 1:36
  Alex
• 1:36
  Lee
• 1:36
  Incorporated,
• 1:37
  which
• 1:37
  is
• 1:37
  a
• 1:37
  Hickory
• 1:38
  based,
• 1:38
  amazing
• 1:39
  family
• 1:39
  owned
• 1:39
  company,
• 1:40
  both
• 1:40
  wholesale
• 1:41
  and
• 1:41
  retail.
• 1:42
  So
• 1:43
  we're
• 1:43
  on
• 1:43
  the
• 1:43
  retail
• 1:44
  side
• 1:44
  for
• 1:44
  Both
• 1:44
  Lowe's
• 1:45
  Foods
• 1:46
  80
• 1:46
  plus
• 1:46
  stores
• 1:47
  and
• 1:47
  KJ's
• 1:48
  Markets
• 1:48
  now
• 1:48
  down
• 1:49
  in
• 1:49
  South
• 1:50
  Carolina
• 1:50
  and
• 1:50
  Georgia.
• 1:52
  So
• 1:52
  great
• 1:52
  addition
• 1:53
  to
• 1:53
  the
• 1:53
  family.
• 1:54
  Well,
• 1:54
  Chad,
• 1:55
  your
• 1:55
  role
• 1:55
  is
• 1:56
  different
• 1:56
  now.
• 1:56
  When
• 1:56
  we
• 1:57
  first
• 1:57
  met
• 1:57
  you,
• 1:57
  you
• 1:57
  were
• 1:58
  heading
• 1:58
  up
• 1:58
  E
• 1:59
  Commerce.
• 1:59
  Now
• 2:00
  we've
• 2:00
  seen
• 2:01
  tons
• 2:01
  of
• 2:01
  evolution
• 2:02
  in
• 2:02
  what
• 2:03
  that
• 2:03
  means
• 2:03
  for
• 2:04
  a
• 2:04
  grocery
• 2:04
  retailer.
• 2:05
  Will
• 2:05
  you
• 2:05
  talk
• 2:05
  a
• 2:06
  little
• 2:06
  bit
• 2:06
  about
• 2:06
  just
• 2:07
  some
• 2:07
  of
• 2:07
  the
• 2:07
  changes
• 2:07
  that
• 2:08
  you've
• 2:08
  seen,
• 2:09
  even
• 2:09
  just
• 2:10
  expanding
• 2:10
  your
• 2:10
  role
• 2:11
  beyond
• 2:11
  E
• 2:11
  Commerce
• 2:12
  as
• 2:12
  a
• 2:12
  title
• 2:12
  and
• 2:13
  more
• 2:13
  into
• 2:13
  digital
• 2:14
  and
• 2:14
  kind
• 2:14
  of
• 2:14
  what
• 2:14
  the
• 2:14
  implications
• 2:16
  that
• 2:16
  will
• 2:16
  have
• 2:17
  for
• 2:17
  your
• 2:18
  team
• 2:18
  at
• 2:18
  Lowe's
• 2:18
  Foods?
• 2:19
  Yeah,
• 2:19
  you
• 2:19
  know,
• 2:19
  we've
• 2:19
  been
• 2:19
  talking
• 2:19
  about
• 2:20
  that
• 2:20
  a
• 2:20
  lot.
• 2:20
  Just
• 2:20
  at
• 2:20
  this
• 2:21
  show
• 2:21
  alone
• 2:21
  with
• 2:22
  all
• 2:22
  of
• 2:22
  our
• 2:22
  colleagues
• 2:23
  that,
• 2:23
  you
• 2:23
  know,
• 2:23
  we
• 2:23
  all
• 2:23
  kind
• 2:23
  of
• 2:24
  grew
• 2:24
  up
• 2:24
  in
• 2:24
  this
• 2:25
  E
• 2:25
  commerc
• 2:25
  boom
• 2:26
  for
• 2:26
  grocery
• 2:27
  back
• 2:27
  in
• 2:27
  like
• 2:27
  2018,
• 2:28
  2019.
• 2:29
  We
• 2:29
  know
• 2:29
  what
• 2:29
  happened
• 2:29
  in
• 2:30
  2020.
• 2:30
  And
• 2:31
  e
• 2:31
  commerce
• 2:31
  was
• 2:32
  the
• 2:32
  fastest
• 2:32
  kind
• 2:33
  of
• 2:33
  growth
• 2:34
  engine
• 2:34
  to
• 2:35
  bringing
• 2:35
  us
• 2:35
  up
• 2:36
  to
• 2:36
  speed
• 2:36
  on
• 2:36
  digital.
• 2:37
  Now,
• 2:37
  as
• 2:38
  the
• 2:38
  dust
• 2:38
  is
• 2:38
  settled,
• 2:39
  it's
• 2:39
  not
• 2:39
  just
• 2:39
  about
• 2:40
  the
• 2:40
  buying
• 2:40
  online,
• 2:41
  it's
• 2:41
  about
• 2:42
  the
• 2:42
  online
• 2:43
  being
• 2:43
  part
• 2:43
  of
• 2:43
  the
• 2:44
  journey.
• 2:44
  And
• 2:45
  that's
• 2:45
  probably
• 2:45
  the
• 2:46
  hardest
• 2:46
  thing
• 2:46
  for
• 2:46
  grocers
• 2:46
  to
• 2:47
  figure
• 2:47
  out.
• 2:47
  What
• 2:47
  kind
• 2:48
  of
• 2:48
  systems,
• 2:48
  what
• 2:48
  kind
• 2:48
  of
• 2:49
  platforms.
• 2:49
  And
• 2:49
  so
• 2:50
  as
• 2:50
  the
• 2:50
  role
• 2:51
  has
• 2:51
  evolved,
• 2:52
  we're
• 2:52
  looking
• 2:52
  at
• 2:53
  technology
• 2:53
  and
• 2:54
  how
• 2:54
  that
• 2:54
  digital
• 2:55
  weaves
• 2:55
  into
• 2:55
  the
• 2:55
  whole
• 2:55
  journey.
• 2:56
  Okay,
• 2:56
  that's
• 2:57
  digital,
• 2:57
  that's
• 2:58
  commerce,
• 2:58
  that's
• 2:59
  digital
• 2:59
  offers,
• 2:59
  it's
• 3:00
  point
• 3:00
  of
• 3:00
  sale.
• 3:00
  Yeah.
• 3:01
  It's
• 3:01
  payment
• 3:01
  systems,
• 3:02
  it's
• 3:02
  frictionless
• 3:03
  across
• 3:03
  the
• 3:03
  store.
• 3:04
  So
• 3:05
  a
• 3:05
  lot
• 3:05
  of
• 3:06
  this
• 3:06
  is
• 3:06
  also
• 3:06
  looking
• 3:06
  at
• 3:06
  kind
• 3:07
  of
• 3:07
  a
• 3:07
  North
• 3:07
  Star.
• 3:07
  How
• 3:08
  do
• 3:08
  we
• 3:08
  have
• 3:08
  an
• 3:08
  aligned
• 3:09
  digital
• 3:09
  strategy
• 3:10
  that's
• 3:10
  not
• 3:10
  driven
• 3:11
  by
• 3:11
  E
• 3:11
  Com?
• 3:12
  It's
• 3:12
  driven
• 3:13
  by
• 3:13
  the
• 3:13
  leadership
• 3:14
  team.
• 3:14
  Right.
• 3:15
  So
• 3:15
  marketing,
• 3:16
  merchandising,
• 3:17
  category
• 3:17
  management,
• 3:19
  it.
• 3:20
  Right.
• 3:20
  And
• 3:20
  all
• 3:20
  of
• 3:20
  our
• 3:21
  companies
• 3:21
  to
• 3:22
  say
• 3:22
  this
• 3:22
  is
• 3:22
  our
• 3:23
  aligned
• 3:23
  roadmap
• 3:24
  and
• 3:24
  our
• 3:24
  aligned
• 3:24
  North
• 3:25
  Star.
• 3:25
  And
• 3:26
  that's
• 3:26
  what
• 3:26
  we're
• 3:26
  really
• 3:26
  building
• 3:26
  across
• 3:27
  now.
• 3:27
  And
• 3:27
  now
• 3:27
  we
• 3:27
  gotta
• 3:28
  figure
• 3:28
  out
• 3:28
  how
• 3:28
  to
• 3:28
  go
• 3:28
  execute
• 3:28
  it,
• 3:29
  which
• 3:29
  is
• 3:29
  the
• 3:29
  big
• 3:29
  challenge
• 3:30
  that's
• 3:30
  kind
• 3:30
  of
• 3:31
  the
• 3:31
  role
• 3:31
  there.
• 3:31
  As
• 3:32
  long
• 3:32
  as
• 3:32
  some
• 3:32
  of
• 3:32
  the
• 3:32
  hardware
• 3:32
  and
• 3:33
  systems.
• 3:33
  Because
• 3:33
  you
• 3:34
  can't
• 3:34
  just
• 3:34
  set
• 3:34
  a
• 3:34
  promise
• 3:35
  on
• 3:35
  the
• 3:35
  phone
• 3:36
  and
• 3:36
  not
• 3:36
  deliver
• 3:36
  on
• 3:36
  it
• 3:37
  at
• 3:37
  point
• 3:37
  of
• 3:37
  sale
• 3:37
  or
• 3:38
  at
• 3:38
  our
• 3:38
  beer
• 3:38
  den
• 3:39
  or
• 3:39
  whatever.
• 3:39
  It's
• 3:39
  gotta
• 3:39
  be
• 3:40
  end
• 3:40
  to
• 3:40
  end.
• 3:41
  I
• 3:42
  imagine
• 3:42
  that
• 3:42
  helps
• 3:43
  the
• 3:43
  conversations
• 3:43
  internally
• 3:44
  too,
• 3:44
  of
• 3:44
  what
• 3:44
  you're
• 3:45
  going
• 3:45
  to
• 3:45
  do,
• 3:45
  but
• 3:45
  also
• 3:46
  what
• 3:46
  you're
• 3:46
  not
• 3:46
  going
• 3:46
  to
• 3:47
  do
• 3:47
  as
• 3:47
  well
• 3:47
  as
• 3:48
  you
• 3:48
  prioritize
• 3:48
  things.
• 3:48
  Is
• 3:48
  that
• 3:49
  true?
• 3:49
  You
• 3:49
  have
• 3:49
  to
• 3:49
  do
• 3:49
  a
• 3:49
  lot
• 3:49
  of
• 3:49
  soul
• 3:50
  searching
• 3:50
  and
• 3:50
  you
• 3:50
  have
• 3:50
  to
• 3:50
  be
• 3:51
  true
• 3:51
  to
• 3:51
  your
• 3:51
  North
• 3:51
  Star.
• 3:52
  Right.
• 3:52
  And
• 3:52
  you
• 3:53
  know,
• 3:53
  we
• 3:53
  talk
• 3:53
  to
• 3:53
  technology
• 3:54
  providers.
• 3:54
  There's
• 3:55
  a
• 3:55
  ton
• 3:55
  of
• 3:55
  amazing
• 3:55
  providers.
• 3:56
  It's,
• 3:57
  we
• 3:57
  want
• 3:57
  every
• 3:57
  shiny
• 3:58
  penny
• 3:58
  possible,
• 3:59
  but
• 3:59
  it's
• 3:59
  where
• 3:59
  and
• 4:00
  how
• 4:00
  does
• 4:00
  it
• 4:00
  fit
• 4:00
  in
• 4:00
  the
• 4:01
  strategy.
• 4:01
  And
• 4:01
  so
• 4:02
  the
• 4:02
  strategy
• 4:02
  and
• 4:02
  kind
• 4:03
  of
• 4:03
  moving
• 4:03
  strategy
• 4:03
  ahead
• 4:04
  of
• 4:04
  technology
• 4:04
  is
• 4:05
  part
• 4:05
  of
• 4:05
  what
• 4:05
  we're
• 4:05
  after.
• 4:06
  So
• 4:06
  how
• 4:07
  do
• 4:07
  we
• 4:07
  make
• 4:07
  sure
• 4:07
  that
• 4:08
  our
• 4:08
  solution
• 4:09
  providers,
• 4:09
  our
• 4:10
  development
• 4:10
  strategy,
• 4:11
  follows
• 4:12
  what
• 4:12
  we
• 4:12
  need
• 4:13
  as
• 4:13
  a
• 4:13
  business
• 4:13
  and
• 4:13
  how
• 4:14
  we
• 4:14
  monetize
• 4:14
  it
• 4:14
  because
• 4:15
  we
• 4:15
  got
• 4:15
  to
• 4:15
  pay
• 4:15
  for
• 4:15
  it,
• 4:15
  you
• 4:15
  know,
• 4:16
  and
• 4:16
  grocery
• 4:16
  margins
• 4:17
  are
• 4:17
  tight,
• 4:17
  so
• 4:17
  there's
• 4:17
  not
• 4:18
  a
• 4:18
  ton
• 4:18
  of
• 4:18
  capital.
• 4:19
  Yes,
• 4:19
  we've
• 4:20
  heard
• 4:20
  that
• 4:20
  quite
• 4:20
  a
• 4:20
  bit
• 4:20
  today
• 4:21
  too.
• 4:21
  All
• 4:21
  right,
• 4:21
  so
• 4:22
  which
• 4:22
  leads
• 4:22
  me
• 4:22
  to
• 4:22
  my
• 4:22
  next
• 4:22
  question
• 4:23
  then.
• 4:23
  So,
• 4:23
  you
• 4:23
  know,
• 4:23
  the
• 4:24
  other
• 4:24
  thing
• 4:24
  we've
• 4:24
  Been
• 4:24
  hearing
• 4:24
  today
• 4:24
  and
• 4:25
  talking
• 4:25
  with
• 4:25
  different
• 4:25
  people
• 4:26
  is,
• 4:26
  you
• 4:26
  know,
• 4:26
  the
• 4:26
  consumer
• 4:27
  is
• 4:27
  more
• 4:27
  demanding
• 4:28
  than
• 4:28
  ever.
• 4:29
  You
• 4:29
  know,
• 4:29
  they
• 4:29
  want,
• 4:30
  they
• 4:30
  want
• 4:30
  a
• 4:31
  frictionless
• 4:32
  experience,
• 4:32
  they
• 4:32
  want
• 4:32
  a
• 4:33
  fast
• 4:33
  experience,
• 4:33
  they
• 4:34
  want
• 4:34
  a
• 4:34
  personalized
• 4:35
  experience.
• 4:35
  How
• 4:36
  do
• 4:36
  you
• 4:36
  balance
• 4:37
  all
• 4:37
  of
• 4:37
  that
• 4:37
  in
• 4:38
  defining
• 4:38
  your
• 4:39
  strategy?
• 4:39
  Do
• 4:39
  you
• 4:40
  lever
• 4:40
  up
• 4:40
  one
• 4:40
  versus
• 4:41
  another?
• 4:41
  Do
• 4:42
  you
• 4:42
  try
• 4:42
  to
• 4:42
  accomplish
• 4:42
  them
• 4:42
  all
• 4:43
  to
• 4:43
  a
• 4:43
  degree?
• 4:43
  Like
• 4:43
  how
• 4:44
  do
• 4:44
  you
• 4:44
  think
• 4:44
  about
• 4:44
  that?
• 4:44
  We
• 4:45
  use
• 4:45
  the
• 4:45
  phrase
• 4:45
  both
• 4:46
  and
• 4:46
  a
• 4:46
  lot.
• 4:47
  Both
• 4:47
  and.
• 4:48
  Okay,
• 4:48
  so
• 4:49
  you
• 4:49
  can't
• 4:49
  not
• 4:50
  just
• 4:50
  invest
• 4:50
  in
• 4:50
  one
• 4:50
  thing.
• 4:51
  And
• 4:51
  that's
• 4:51
  the
• 4:51
  hard
• 4:51
  part
• 4:51
  with
• 4:52
  digital.
• 4:52
  Yeah.
• 4:52
  And
• 4:53
  because
• 4:53
  expectations
• 4:54
  are
• 4:54
  set
• 4:54
  by
• 4:55
  the
• 4:55
  big
• 4:55
  companies
• 4:56
  and
• 4:56
  the
• 4:56
  Amazons
• 4:56
  of
• 4:57
  the
• 4:57
  world,
• 4:58
  everybody
• 4:58
  has
• 4:58
  to
• 4:58
  kind
• 4:59
  of
• 4:59
  conform
• 4:59
  to
• 4:59
  that
• 4:59
  expectation.
• 5:00
  Right.
• 5:00
  You
• 5:00
  know,
• 5:01
  why
• 5:01
  are
• 5:01
  you
• 5:01
  telling
• 5:01
  me
• 5:01
  this
• 5:01
  over
• 5:02
  here
• 5:02
  and
• 5:02
  showing
• 5:02
  me
• 5:02
  this
• 5:03
  over
• 5:03
  here?
• 5:03
  Why
• 5:03
  does
• 5:03
  it
• 5:03
  not
• 5:04
  line
• 5:04
  up?
• 5:04
  And
• 5:04
  that's
• 5:05
  trust.
• 5:05
  Digital
• 5:06
  builds
• 5:06
  trust,
• 5:06
  especially
• 5:07
  when
• 5:07
  you're
• 5:07
  setting
• 5:07
  up
• 5:08
  a
• 5:08
  promise
• 5:08
  and
• 5:08
  you
• 5:08
  got
• 5:08
  to
• 5:08
  deliver
• 5:09
  on
• 5:09
  it.
• 5:09
  Whether
• 5:10
  it's
• 5:10
  clipping
• 5:10
  a
• 5:11
  digital
• 5:11
  offer,
• 5:11
  making
• 5:11
  sure
• 5:12
  that
• 5:12
  you
• 5:12
  get
• 5:12
  the
• 5:12
  discount
• 5:12
  at
• 5:12
  point
• 5:13
  of
• 5:13
  sale,
• 5:13
  placing
• 5:14
  your
• 5:14
  online
• 5:14
  order,
• 5:15
  making
• 5:15
  sure
• 5:15
  we're
• 5:15
  in
• 5:15
  stock.
• 5:16
  Right.
• 5:16
  So
• 5:17
  that's
• 5:18
  been
• 5:18
  a
• 5:18
  huge
• 5:18
  kind
• 5:18
  of
• 5:19
  calling
• 5:19
  card
• 5:19
  as
• 5:19
  to
• 5:20
  how
• 5:20
  do
• 5:20
  we
• 5:20
  tie
• 5:20
  all
• 5:20
  those
• 5:21
  things
• 5:21
  together.
• 5:21
  And
• 5:22
  it's
• 5:22
  difficult,
• 5:22
  it's
• 5:23
  hard.
• 5:23
  And
• 5:23
  it
• 5:23
  takes
• 5:24
  everybody
• 5:25
  to
• 5:25
  kind
• 5:25
  of
• 5:25
  execute
• 5:26
  from
• 5:26
  the
• 5:26
  digital
• 5:27
  to
• 5:27
  the
• 5:27
  sops
• 5:28
  in
• 5:28
  the
• 5:28
  stores
• 5:29
  for
• 5:29
  producing
• 5:29
  the
• 5:29
  product,
• 5:30
  using
• 5:30
  our
• 5:31
  registers,
• 5:31
  talking
• 5:32
  to
• 5:32
  our
• 5:32
  guests,
• 5:32
  helping
• 5:33
  them
• 5:33
  enroll.
• 5:33
  It
• 5:33
  doesn't
• 5:33
  matter
• 5:34
  what
• 5:34
  it
• 5:34
  is.
• 5:34
  And
• 5:35
  it's
• 5:35
  the
• 5:35
  thread
• 5:35
  that
• 5:36
  ties
• 5:36
  it
• 5:36
  all
• 5:36
  together.
• 5:36
  Yeah.
• 5:38
  So,
• 5:38
  Chad,
• 5:39
  is
• 5:39
  there
• 5:40
  a
• 5:40
  two
• 5:40
  part
• 5:40
  question?
• 5:41
  One,
• 5:41
  what
• 5:42
  are
• 5:42
  the
• 5:42
  technologies
• 5:43
  then
• 5:43
  that
• 5:43
  you're
• 5:44
  primarily
• 5:45
  focused
• 5:45
  on?
• 5:46
  And
• 5:46
  two,
• 5:47
  who's
• 5:47
  driving
• 5:48
  those
• 5:48
  technology
• 5:49
  decisions?
• 5:50
  Because
• 5:51
  you
• 5:51
  have
• 5:52
  an
• 5:52
  IT
• 5:52
  background.
• 5:53
  Used
• 5:53
  to
• 5:53
  be
• 5:53
  like
• 5:53
  the
• 5:54
  CIO
• 5:54
  was
• 5:54
  in
• 5:54
  charge
• 5:55
  of
• 5:55
  finding
• 5:56
  like
• 5:56
  these
• 5:56
  are
• 5:56
  the
• 5:56
  technologies
• 5:57
  we're
• 5:57
  going
• 5:57
  to
• 5:57
  invest
• 5:57
  in
• 5:57
  and
• 5:57
  then
• 5:58
  bringing
• 5:58
  them
• 5:58
  to
• 5:58
  the
• 5:58
  rest
• 5:58
  of
• 5:58
  the
• 5:58
  team.
• 5:59
  But
• 5:59
  as
• 6:00
  you
• 6:00
  look
• 6:00
  at
• 6:00
  Lowe's
• 6:01
  Foods
• 6:01
  and
• 6:01
  what
• 6:02
  you're
• 6:02
  prioritizing,
• 6:03
  who's
• 6:03
  kind
• 6:03
  of
• 6:04
  giving
• 6:04
  input?
• 6:04
  Is
• 6:04
  IT
• 6:05
  merchants?
• 6:05
  Is
• 6:05
  it,
• 6:06
  you
• 6:06
  know,
• 6:06
  marketing?
• 6:07
  Is
• 6:07
  it
• 6:07
  it?
• 6:08
  Like,
• 6:08
  how
• 6:08
  does
• 6:09
  that
• 6:09
  kind
• 6:09
  of
• 6:09
  come
• 6:09
  together?
• 6:09
  Supply
• 6:10
  chain,
• 6:11
  all
• 6:11
  of
• 6:11
  the
• 6:12
  above.
• 6:12
  And
• 6:13
  so
• 6:13
  what
• 6:13
  we're
• 6:13
  trying
• 6:13
  to
• 6:14
  do
• 6:14
  is
• 6:14
  we
• 6:14
  put
• 6:14
  a
• 6:15
  discipline
• 6:15
  in
• 6:15
  place
• 6:16
  for
• 6:16
  technology
• 6:16
  procurement.
• 6:18
  I'm
• 6:18
  pushing
• 6:18
  the
• 6:19
  business
• 6:19
  and
• 6:19
  my
• 6:19
  peers
• 6:20
  and
• 6:20
  leadership
• 6:20
  to
• 6:21
  say,
• 6:21
  what
• 6:22
  do
• 6:22
  we
• 6:22
  want
• 6:22
  to
• 6:22
  go
• 6:22
  do?
• 6:23
  What's
• 6:23
  the
• 6:23
  problem
• 6:23
  we're
• 6:24
  trying
• 6:24
  to
• 6:24
  solve?
• 6:25
  How
• 6:25
  do
• 6:25
  we
• 6:25
  want
• 6:26
  to
• 6:26
  change
• 6:26
  the
• 6:26
  business?
• 6:27
  How
• 6:27
  do
• 6:27
  we
• 6:27
  want
• 6:27
  to
• 6:27
  drive
• 6:28
  loyalty,
• 6:28
  for
• 6:28
  example,
• 6:29
  what
• 6:29
  does
• 6:29
  loyalty
• 6:29
  look
• 6:29
  like
• 6:30
  for
• 6:30
  us?
• 6:30
  Go
• 6:31
  back
• 6:31
  to
• 6:31
  it
• 6:31
  to
• 6:32
  say
• 6:32
  this
• 6:32
  is
• 6:32
  a
• 6:32
  strategy,
• 6:33
  this
• 6:33
  is
• 6:33
  the
• 6:33
  revenue
• 6:34
  we
• 6:34
  think
• 6:34
  we're
• 6:34
  going
• 6:34
  to
• 6:34
  drive
• 6:34
  or
• 6:35
  the
• 6:35
  savings
• 6:35
  that
• 6:35
  we're
• 6:35
  going
• 6:35
  to
• 6:36
  enjoy
• 6:37
  and
• 6:38
  let
• 6:38
  our
• 6:38
  IT
• 6:38
  organization.
• 6:39
  And
• 6:40
  I'll
• 6:40
  help
• 6:40
  as
• 6:40
  well
• 6:41
  think
• 6:41
  through
• 6:42
  who
• 6:42
  are
• 6:43
  the
• 6:43
  folks
• 6:43
  that
• 6:43
  might
• 6:43
  be
• 6:44
  able
• 6:44
  to
• 6:44
  help
• 6:44
  and
• 6:45
  do
• 6:45
  kind
• 6:45
  of
• 6:45
  a
• 6:45
  landscape
• 6:46
  search
• 6:46
  and
• 6:46
  then
• 6:47
  come
• 6:47
  back
• 6:47
  probably
• 6:47
  to
• 6:48
  the
• 6:48
  solutions
• 6:48
  that
• 6:48
  we
• 6:48
  see
• 6:49
  at
• 6:49
  shows
• 6:49
  like
• 6:49
  this
• 6:49
  and
• 6:49
  grocery
• 6:50
  shop
• 6:50
  and
• 6:50
  others
• 6:51
  to
• 6:51
  kind
• 6:51
  of
• 6:52
  pull
• 6:52
  them
• 6:52
  together
• 6:52
  to
• 6:52
  say
• 6:53
  let's
• 6:53
  go
• 6:53
  rfp.
• 6:53
  Okay.
• 6:54
  And
• 6:54
  so
• 6:54
  that
• 6:54
  we're
• 6:54
  not
• 6:54
  disappointed
• 6:55
  when
• 6:55
  it
• 6:55
  comes
• 6:55
  to
• 6:56
  getting
• 6:57
  the
• 6:57
  features
• 6:57
  and
• 6:57
  functions
• 6:58
  that.
• 6:58
  Right.
• 6:58
  It's
• 6:58
  a
• 6:59
  merchant,
• 6:59
  a
• 6:59
  marketer
• 7:00
  expects
• 7:00
  to
• 7:01
  deliver
• 7:01
  the
• 7:01
  value.
• 7:01
  Yeah.
• 7:02
  That's
• 7:02
  the
• 7:02
  right
• 7:03
  way
• 7:03
  to
• 7:03
  do
• 7:03
  anything.
• 7:04
  Looking
• 7:04
  at
• 7:04
  the
• 7:04
  problem
• 7:05
  takes
• 7:05
  a
• 7:05
  while
• 7:05
  to
• 7:05
  get
• 7:05
  through
• 7:06
  versus
• 7:06
  like
• 7:07
  what
• 7:07
  looked
• 7:07
  cool
• 7:08
  at
• 7:08
  this.
• 7:08
  I
• 7:09
  mean
• 7:09
  you
• 7:09
  can
• 7:09
  go
• 7:09
  in
• 7:10
  a
• 7:10
  lot
• 7:10
  of
• 7:10
  wrong
• 7:10
  directions
• 7:10
  if
• 7:11
  you
• 7:11
  don't
• 7:11
  take
• 7:11
  the
• 7:11
  approach
• 7:11
  that
• 7:12
  you're,
• 7:12
  you're
• 7:12
  espousing
• 7:13
  here.
• 7:13
  So
• 7:13
  Chad,
• 7:14
  I'm
• 7:14
  curious,
• 7:14
  are
• 7:14
  there
• 7:14
  any
• 7:14
  innovations
• 7:15
  or
• 7:15
  technologies
• 7:16
  that
• 7:17
  you're
• 7:17
  really
• 7:17
  excited
• 7:18
  about
• 7:18
  exploring
• 7:19
  in
• 7:19
  your
• 7:19
  role
• 7:20
  in
• 7:20
  this,
• 7:20
  in
• 7:20
  this
• 7:20
  coming
• 7:21
  year?
• 7:21
  Yeah,
• 7:21
  I
• 7:21
  mean
• 7:22
  I
• 7:22
  think
• 7:23
  since
• 7:23
  there's
• 7:24
  so
• 7:24
  many,
• 7:24
  I
• 7:25
  think,
• 7:25
  you
• 7:26
  know,
• 7:26
  just
• 7:26
  kind
• 7:26
  of
• 7:26
  looking
• 7:27
  around
• 7:27
  here.
• 7:27
  Right.
• 7:28
  Evolution
• 7:28
  of
• 7:28
  shelf
• 7:29
  labels.
• 7:29
  Right.
• 7:29
  And
• 7:30
  anything
• 7:30
  that
• 7:30
  can
• 7:31
  impact
• 7:31
  that
• 7:31
  digital
• 7:31
  experience,
• 7:32
  whether
• 7:32
  you're
• 7:32
  in
• 7:32
  the
• 7:32
  aisle,
• 7:33
  point
• 7:33
  of
• 7:34
  sale,
• 7:34
  kind
• 7:34
  of
• 7:34
  future
• 7:35
  proofing.
• 7:36
  We
• 7:36
  have
• 7:36
  some
• 7:36
  robotics.
• 7:37
  Right.
• 7:37
  How
• 7:37
  can
• 7:38
  that
• 7:38
  help
• 7:38
  our
• 7:38
  operations
• 7:38
  teams
• 7:39
  but
• 7:39
  also
• 7:39
  potentially
• 7:40
  help
• 7:40
  the
• 7:40
  digital
• 7:40
  experience,
• 7:41
  you
• 7:41
  know,
• 7:41
  kind
• 7:41
  of
• 7:41
  tighten
• 7:41
  things
• 7:42
  up.
• 7:43
  Loyalty
• 7:43
  backbones.
• 7:44
  Right.
• 7:45
  For
• 7:45
  differentiated
• 7:46
  loyalty
• 7:46
  kind
• 7:46
  of
• 7:47
  capabilities
• 7:47
  and.
• 7:48
  Right.
• 7:48
  You
• 7:49
  know,
• 7:49
  again,
• 7:49
  there's
• 7:50
  no
• 7:50
  one
• 7:50
  platform
• 7:51
  that
• 7:51
  does
• 7:51
  everything
• 7:51
  right.
• 7:52
  So
• 7:52
  you
• 7:52
  have
• 7:52
  to
• 7:52
  find
• 7:52
  partners
• 7:53
  and
• 7:53
  vendors
• 7:54
  on
• 7:54
  the
• 7:54
  fulfillment
• 7:55
  side,
• 7:55
  you
• 7:55
  know,
• 7:56
  technology
• 7:56
  side
• 7:57
  that
• 7:57
  work
• 7:57
  with
• 7:57
  one
• 7:57
  another
• 7:58
  and
• 7:58
  have
• 7:58
  open
• 7:58
  architecture.
• 7:59
  And
• 7:59
  I
• 7:59
  think
• 7:59
  that's
• 7:59
  our
• 7:59
  fundamental.
• 8:00
  Anybody
• 8:01
  we
• 8:01
  work
• 8:01
  with
• 8:01
  has
• 8:01
  to
• 8:01
  have
• 8:02
  kind
• 8:02
  of
• 8:02
  a
• 8:02
  microservices
• 8:03
  headless
• 8:04
  architecture
• 8:04
  or
• 8:05
  at
• 8:05
  least
• 8:05
  approach.
• 8:06
  If
• 8:06
  it's,
• 8:06
  you
• 8:07
  know,
• 8:07
  black
• 8:07
  box
• 8:07
  on
• 8:08
  prem.
• 8:08
  That's
• 8:08
  not
• 8:08
  going
• 8:08
  to
• 8:08
  work
• 8:09
  for
• 8:09
  the
• 8:09
  future
• 8:10
  because
• 8:10
  we
• 8:10
  have
• 8:10
  to
• 8:10
  have
• 8:11
  a
• 8:11
  portfolio
• 8:11
  that
• 8:12
  can
• 8:12
  work
• 8:12
  with
• 8:12
  one
• 8:13
  another.
• 8:13
  Right.
• 8:13
  That
• 8:14
  makes
• 8:14
  sense.
• 8:14
  That
• 8:14
  makes
• 8:14
  sense.
• 8:15
  So
• 8:15
  let's
• 8:16
  shift
• 8:16
  gears
• 8:16
  a
• 8:16
  little
• 8:16
  bit
• 8:16
  because
• 8:17
  I
• 8:17
  want
• 8:17
  to.
• 8:17
  I'm
• 8:17
  curious
• 8:18
  how
• 8:18
  much,
• 8:19
  how
• 8:19
  much
• 8:19
  of
• 8:19
  your
• 8:19
  sandbox
• 8:20
  is
• 8:20
  devoted
• 8:20
  to
• 8:20
  this
• 8:21
  topic
• 8:21
  now?
• 8:21
  How
• 8:21
  do
• 8:21
  you
• 8:22
  think
• 8:22
  about
• 8:22
  the
• 8:23
  physical
• 8:23
  store
• 8:23
  evolving
• 8:24
  like
• 8:25
  and
• 8:25
  particularly
• 8:25
  with
• 8:26
  the,
• 8:26
  you
• 8:26
  know,
• 8:27
  how
• 8:27
  digital
• 8:27
  plays
• 8:27
  into
• 8:28
  that
• 8:28
  physical
• 8:28
  store
• 8:29
  experience.
• 8:29
  How
• 8:29
  are
• 8:29
  you
• 8:29
  thinking
• 8:30
  about
• 8:30
  that?
• 8:30
  It's
• 8:31
  a
• 8:31
  great
• 8:31
  question.
• 8:31
  So
• 8:32
  we'd
• 8:33
  love
• 8:33
  to
• 8:33
  have.
• 8:33
  I'm
• 8:34
  not
• 8:34
  sure
• 8:34
  if
• 8:34
  you
• 8:34
  guys
• 8:34
  have
• 8:34
  been
• 8:34
  to
• 8:34
  a
• 8:34
  Lowe's
• 8:35
  food
• 8:35
  store
• 8:35
  before,
• 8:35
  but
• 8:36
  Lowe's
• 8:36
  Foods
• 8:36
  is
• 8:36
  experiential.
• 8:37
  We
• 8:37
  are
• 8:38
  entertainment
• 8:38
  based,
• 8:38
  so
• 8:38
  we
• 8:39
  are
• 8:39
  an
• 8:39
  entertainment
• 8:40
  company
• 8:40
  that
• 8:40
  creates
• 8:41
  food
• 8:41
  experiences.
• 8:41
  Yeah.
• 8:42
  What's
• 8:42
  the
• 8:42
  chicken
• 8:42
  dance
• 8:42
  called?
• 8:43
  Again,
• 8:43
  the
• 8:43
  chicken
• 8:43
  dance.
• 8:44
  The
• 8:44
  chicken
• 8:44
  dance.
• 8:44
  We
• 8:44
  do
• 8:44
  the
• 8:45
  chicken
• 8:45
  dance.
• 8:46
  I
• 8:46
  thought
• 8:46
  it
• 8:46
  had
• 8:47
  like
• 8:47
  a
• 8:47
  time
• 8:48
  line
• 8:48
  or
• 8:48
  something.
• 8:49
  Well,
• 8:49
  it's
• 8:49
  our
• 8:49
  own
• 8:49
  version.
• 8:50
  Yes,
• 8:50
  it's
• 8:50
  our
• 8:51
  own
• 8:51
  kind
• 8:51
  of
• 8:52
  distinct
• 8:52
  version
• 8:52
  to
• 8:52
  celebrate
• 8:53
  the
• 8:53
  best
• 8:53
  chicken
• 8:53
  in
• 8:53
  the
• 8:53
  Carolinas
• 8:54
  under
• 8:54
  our
• 8:54
  chicken
• 8:55
  chandelier.
• 8:56
  Yes.
• 8:56
  But
• 8:56
  again,
• 8:57
  we
• 8:57
  have
• 8:58
  events
• 8:58
  that
• 8:58
  happen
• 8:59
  in
• 8:59
  our
• 8:59
  stores.
• 8:59
  We
• 8:59
  have
• 8:59
  our
• 9:00
  community
• 9:00
  tables.
• 9:00
  You
• 9:00
  know,
• 9:01
  Tim
• 9:01
  talked
• 9:01
  about
• 9:01
  it
• 9:01
  this
• 9:01
  morning,
• 9:02
  where
• 9:02
  we,
• 9:03
  we
• 9:03
  gather.
• 9:03
  Right.
• 9:04
  So
• 9:04
  we
• 9:04
  bring
• 9:04
  the
• 9:04
  community.
• 9:05
  And
• 9:05
  growing
• 9:05
  community
• 9:06
  is
• 9:06
  what
• 9:06
  we're
• 9:06
  all
• 9:06
  about.
• 9:07
  So
• 9:07
  how
• 9:07
  do
• 9:07
  you,
• 9:08
  how
• 9:08
  do
• 9:08
  you
• 9:08
  do
• 9:08
  that
• 9:09
  authentically
• 9:09
  with
• 9:09
  digital?
• 9:10
  Well,
• 9:10
  digital
• 9:11
  should
• 9:11
  be
• 9:11
  educating
• 9:11
  and
• 9:12
  informing
• 9:12
  about
• 9:12
  opportunities
• 9:13
  to
• 9:13
  come
• 9:13
  in
• 9:13
  the
• 9:13
  store.
• 9:14
  Digital
• 9:15
  should
• 9:15
  be
• 9:15
  infused
• 9:16
  elegantly
• 9:16
  into
• 9:16
  the
• 9:17
  store.
• 9:17
  But
• 9:17
  we
• 9:17
  don't
• 9:17
  put
• 9:18
  big
• 9:18
  screens
• 9:18
  up
• 9:18
  in
• 9:18
  our
• 9:19
  stores.
• 9:19
  People
• 9:20
  have
• 9:20
  asked
• 9:20
  us
• 9:20
  to
• 9:20
  put
• 9:21
  screens
• 9:21
  up
• 9:21
  at
• 9:21
  the
• 9:21
  beard
• 9:21
  end.
• 9:22
  No,
• 9:22
  we
• 9:22
  want
• 9:23
  you
• 9:23
  to
• 9:23
  have
• 9:23
  a
• 9:23
  conversation
• 9:24
  versus
• 9:25
  watching
• 9:25
  the
• 9:25
  game.
• 9:26
  Right.
• 9:26
  So
• 9:27
  you
• 9:27
  can't
• 9:27
  grow
• 9:27
  community
• 9:27
  if
• 9:27
  you're
• 9:28
  distracting,
• 9:28
  but
• 9:29
  you
• 9:29
  can
• 9:29
  bring
• 9:29
  in
• 9:29
  digital
• 9:30
  elegantly.
• 9:30
  And
• 9:30
  that's
• 9:31
  what
• 9:31
  we're
• 9:31
  trying
• 9:31
  to
• 9:31
  figure
• 9:31
  out.
• 9:32
  That's
• 9:32
  the
• 9:32
  hardest
• 9:33
  part.
• 9:33
  And
• 9:33
  then
• 9:34
  how
• 9:34
  do
• 9:34
  we
• 9:34
  bring
• 9:34
  our,
• 9:34
  as
• 9:35
  we
• 9:35
  talk
• 9:35
  about
• 9:35
  provocative
• 9:36
  with
• 9:36
  a
• 9:36
  twist
• 9:36
  of
• 9:36
  wit,
• 9:37
  kind
• 9:37
  of
• 9:37
  our
• 9:37
  approach
• 9:38
  to
• 9:38
  marketing
• 9:38
  and
• 9:39
  brand
• 9:39
  and
• 9:40
  kind
• 9:40
  of,
• 9:40
  you
• 9:40
  know,
• 9:40
  tongue
• 9:41
  in
• 9:41
  cheek,
• 9:41
  catch
• 9:41
  our
• 9:42
  audience
• 9:42
  off
• 9:42
  guard,
• 9:42
  make
• 9:43
  them
• 9:43
  laugh
• 9:43
  a
• 9:43
  little
• 9:43
  bit,
• 9:43
  make
• 9:44
  them
• 9:44
  think
• 9:44
  and
• 9:44
  make
• 9:44
  the
• 9:44
  brand
• 9:45
  stand
• 9:45
  out.
• 9:46
  Digital
• 9:46
  can
• 9:46
  help
• 9:46
  with
• 9:47
  that
• 9:47
  as
• 9:47
  well.
• 9:47
  Is
• 9:47
  loyalty
• 9:48
  a
• 9:48
  keyword
• 9:49
  in
• 9:49
  that
• 9:50
  discussion
• 9:50
  or
• 9:50
  equation?
• 9:51
  Of
• 9:51
  course.
• 9:51
  How
• 9:52
  so?
• 9:52
  Well,
• 9:53
  you
• 9:53
  know,
• 9:53
  we
• 9:53
  have
• 9:54
  tons
• 9:54
  of
• 9:54
  great
• 9:54
  grocery
• 9:55
  stores
• 9:55
  all
• 9:55
  across
• 9:56
  the
• 9:56
  country.
• 9:56
  We
• 9:57
  want
• 9:57
  a
• 9:57
  store
• 9:57
  that
• 9:57
  our
• 9:57
  guests
• 9:58
  look
• 9:58
  forward
• 9:58
  to
• 9:58
  coming
• 9:58
  into.
• 9:59
  You
• 9:59
  know,
• 9:59
  and
• 10:00
  what
• 10:00
  I
• 10:00
  love
• 10:00
  being
• 10:00
  on
• 10:00
  the
• 10:01
  commerce
• 10:01
  side.
• 10:01
  If
• 10:02
  we
• 10:02
  can
• 10:02
  motivate
• 10:02
  a
• 10:02
  household
• 10:03
  to
• 10:03
  use
• 10:03
  Lowe's
• 10:04
  Foods
• 10:04
  to
• 10:04
  go,
• 10:04
  which
• 10:04
  is
• 10:04
  our
• 10:05
  first
• 10:05
  party
• 10:05
  commerce.
• 10:05
  It's
• 10:05
  been
• 10:06
  around
• 10:06
  since
• 10:06
  1997
• 10:07
  actually.
• 10:07
  Yeah,
• 10:07
  you
• 10:07
  guys
• 10:08
  were
• 10:08
  one
• 10:08
  of
• 10:08
  the
• 10:08
  first.
• 10:08
  Right,
• 10:08
  right.
• 10:09
  So
• 10:09
  we
• 10:09
  do
• 10:09
  the
• 10:09
  heavy
• 10:09
  lift
• 10:10
  and
• 10:10
  then
• 10:10
  the
• 10:10
  guest
• 10:10
  has
• 10:11
  a
• 10:11
  reason
• 10:11
  to
• 10:11
  park
• 10:11
  their
• 10:11
  car,
• 10:12
  come
• 10:12
  in
• 10:12
  on
• 10:13
  a
• 10:13
  Thursday
• 10:13
  night
• 10:13
  for
• 10:13
  Thursday.
• 10:14
  Thursday
• 10:14
  half
• 10:14
  price
• 10:14
  pint
• 10:15
  nights.
• 10:15
  And
• 10:15
  what
• 10:16
  are
• 10:16
  they
• 10:16
  going
• 10:16
  to
• 10:16
  do?
• 10:16
  They're
• 10:16
  going
• 10:16
  to
• 10:16
  buy
• 10:16
  a
• 10:17
  few
• 10:17
  more
• 10:17
  things,
• 10:17
  they're
• 10:17
  going
• 10:17
  to
• 10:17
  see
• 10:18
  their
• 10:18
  neighbors
• 10:18
  and
• 10:18
  their
• 10:19
  friends
• 10:19
  and
• 10:19
  then
• 10:19
  they're
• 10:20
  going
• 10:20
  to
• 10:20
  pick
• 10:20
  up
• 10:20
  their
• 10:20
  order.
• 10:20
  That's
• 10:20
  the
• 10:21
  perfect
• 10:21
  experience
• 10:22
  because
• 10:22
  now
• 10:22
  they
• 10:22
  can
• 10:23
  take
• 10:23
  time
• 10:23
  to
• 10:23
  enjoy
• 10:23
  the
• 10:24
  store.
• 10:24
  And
• 10:25
  our
• 10:25
  personal
• 10:25
  shoppers
• 10:26
  did
• 10:26
  the
• 10:26
  heavy
• 10:26
  lift.
• 10:26
  So
• 10:26
  I
• 10:27
  mean,
• 10:27
  that's
• 10:27
  just
• 10:27
  one
• 10:27
  example,
• 10:28
  right?
• 10:28
  Yeah,
• 10:28
  but
• 10:29
  Chad,
• 10:29
  how
• 10:29
  else
• 10:30
  then
• 10:30
  if
• 10:30
  you're
• 10:30
  going
• 10:31
  for
• 10:31
  experiential,
• 10:31
  how
• 10:32
  else
• 10:32
  does
• 10:32
  that
• 10:32
  change?
• 10:32
  Like
• 10:33
  the
• 10:33
  feature
• 10:33
  physical
• 10:33
  footprint
• 10:34
  of
• 10:34
  the
• 10:34
  store?
• 10:34
  Do
• 10:34
  you
• 10:34
  see
• 10:35
  any
• 10:35
  changes
• 10:35
  coming?
• 10:36
  And
• 10:36
  as
• 10:36
  we
• 10:36
  kind
• 10:36
  of
• 10:36
  look
• 10:37
  to
• 10:38
  what
• 10:38
  Grocery
• 10:39
  stores
• 10:39
  look
• 10:39
  like
• 10:39
  in
• 10:39
  the
• 10:39
  next
• 10:40
  five
• 10:40
  to
• 10:40
  10
• 10:40
  years.
• 10:41
  Do
• 10:41
  you
• 10:41
  think
• 10:41
  that
• 10:41
  that
• 10:42
  will
• 10:42
  change?
• 10:42
  Will
• 10:42
  there
• 10:43
  be
• 10:43
  more
• 10:43
  space
• 10:43
  dedicated
• 10:44
  to
• 10:44
  the
• 10:45
  personal
• 10:45
  shopper
• 10:46
  part
• 10:46
  of
• 10:46
  the
• 10:47
  journey?
• 10:47
  Like
• 10:47
  back
• 10:48
  of
• 10:48
  house
• 10:48
  space
• 10:48
  to
• 10:48
  prep
• 10:49
  and
• 10:49
  pack
• 10:49
  those
• 10:49
  orders.
• 10:50
  And
• 10:50
  then
• 10:50
  you're
• 10:51
  having
• 10:51
  the
• 10:51
  chicken
• 10:51
  chandelier
• 10:52
  be
• 10:52
  more
• 10:53
  front
• 10:53
  and
• 10:53
  center.
• 10:53
  Like,
• 10:54
  how
• 10:54
  does
• 10:54
  that.
• 10:54
  The
• 10:54
  chandelier
• 10:55
  gets
• 10:55
  bigger?
• 10:56
  Yes.
• 10:56
  I
• 10:56
  don't
• 10:56
  know.
• 10:57
  I
• 10:57
  hope
• 10:57
  not
• 10:57
  because
• 10:57
  it's
• 10:57
  pretty
• 10:58
  big
• 10:58
  right
• 10:58
  now
• 10:58
  and
• 10:59
  actually
• 10:59
  his
• 10:59
  wings
• 10:59
  flap
• 10:59
  and
• 11:00
  everything.
• 11:00
  But
• 11:01
  actually,
• 11:01
  our
• 11:02
  staging
• 11:02
  rooms
• 11:02
  for
• 11:02
  commerce
• 11:03
  are
• 11:03
  probably,
• 11:03
  I
• 11:03
  would
• 11:04
  think,
• 11:04
  biggest
• 11:04
  in
• 11:04
  the
• 11:04
  industry.
• 11:04
  There's
• 11:05
  several
• 11:05
  thousand
• 11:05
  square
• 11:05
  feet.
• 11:06
  Because
• 11:06
  we're
• 11:06
  building
• 11:07
  the
• 11:07
  future
• 11:07
  and
• 11:07
  because
• 11:08
  we're
• 11:08
  fortunate
• 11:08
  that
• 11:08
  leadership
• 11:09
  accepts
• 11:10
  and
• 11:10
  understands
• 11:10
  how
• 11:11
  big
• 11:11
  commerce
• 11:11
  could
• 11:11
  be.
• 11:12
  But
• 11:13
  growing
• 11:13
  our
• 11:14
  seating
• 11:14
  areas
• 11:14
  in
• 11:14
  our
• 11:15
  stores.
• 11:15
  Okay,
• 11:15
  right.
• 11:15
  So
• 11:16
  they
• 11:16
  used
• 11:16
  to
• 11:16
  be
• 11:16
  a
• 11:16
  small
• 11:17
  area.
• 11:17
  If
• 11:18
  you
• 11:18
  look
• 11:18
  at
• 11:18
  our
• 11:18
  latest
• 11:19
  stores,
• 11:19
  there
• 11:19
  is.
• 11:20
  There
• 11:20
  are
• 11:20
  a
• 11:20
  significant
• 11:20
  number
• 11:21
  of
• 11:21
  tables,
• 11:21
  long
• 11:21
  rows
• 11:22
  of
• 11:22
  tables,
• 11:22
  and
• 11:23
  that's
• 11:23
  where
• 11:23
  people
• 11:23
  gather.
• 11:24
  And
• 11:24
  that's
• 11:24
  where
• 11:24
  people
• 11:25
  sit.
• 11:25
  They
• 11:25
  work.
• 11:26
  They're
• 11:26
  drinking
• 11:26
  a
• 11:26
  coffee,
• 11:27
  they're
• 11:27
  getting
• 11:27
  a
• 11:27
  beer,
• 11:27
  they're
• 11:28
  eating
• 11:28
  from
• 11:28
  Sammy's
• 11:29
  or
• 11:29
  salad
• 11:29
  bar
• 11:30
  or
• 11:30
  Chicken
• 11:30
  Kitchen.
• 11:31
  That's
• 11:31
  probably
• 11:31
  one
• 11:31
  of
• 11:32
  the
• 11:32
  biggest
• 11:32
  changes.
• 11:32
  And
• 11:33
  again,
• 11:33
  that's
• 11:33
  not
• 11:33
  a
• 11:33
  secret.
• 11:34
  A
• 11:34
  lot
• 11:34
  of
• 11:34
  grocers
• 11:34
  are
• 11:34
  figuring
• 11:35
  out
• 11:35
  that
• 11:35
  blend
• 11:35
  of
• 11:35
  food
• 11:36
  service
• 11:36
  and
• 11:37
  grocery.
• 11:37
  Right.
• 11:38
  So
• 11:38
  to
• 11:38
  create
• 11:38
  the
• 11:39
  meal
• 11:39
  solutions.
• 11:40
  But
• 11:40
  for
• 11:40
  us,
• 11:40
  it's
• 11:41
  about
• 11:41
  the
• 11:41
  gathering
• 11:41
  and
• 11:42
  getting
• 11:42
  the
• 11:42
  guests
• 11:42
  in
• 11:42
  the
• 11:42
  store
• 11:43
  to
• 11:43
  enjoy
• 11:43
  whatever
• 11:44
  they
• 11:44
  want
• 11:44
  to
• 11:44
  enjoy.
• 11:44
  And
• 11:45
  Chad,
• 11:45
  this
• 11:46
  is
• 11:46
  a
• 11:46
  question
• 11:46
  that
• 11:47
  I
• 11:47
  hear
• 11:47
  you
• 11:48
  like.
• 11:48
  I
• 11:48
  love
• 11:48
  this
• 11:49
  concept,
• 11:49
  but
• 11:50
  you're
• 11:50
  still
• 11:51
  taking
• 11:51
  that
• 11:52
  space
• 11:52
  that
• 11:53
  at
• 11:53
  the.
• 11:54
  You're
• 11:54
  sacrificing
• 11:55
  scratch
• 11:55
  square
• 11:56
  footage
• 11:56
  on
• 11:56
  the
• 11:56
  floor
• 11:56
  to
• 11:57
  sell
• 11:57
  products
• 11:58
  in
• 11:58
  the
• 11:58
  grocery
• 11:58
  store.
• 11:59
  How
• 11:59
  do
• 11:59
  you
• 12:00
  rationalize
• 12:00
  that
• 12:01
  as
• 12:01
  a
• 12:01
  company
• 12:01
  in
• 12:02
  that.
• 12:02
  Or
• 12:03
  is
• 12:03
  it
• 12:03
  just
• 12:04
  there
• 12:04
  will
• 12:04
  be
• 12:04
  bigger
• 12:05
  baskets,
• 12:05
  the
• 12:05
  people
• 12:05
  will
• 12:05
  come
• 12:06
  more
• 12:06
  frequently
• 12:06
  because
• 12:07
  we
• 12:07
  have
• 12:07
  food
• 12:07
  service
• 12:08
  in
• 12:08
  store
• 12:08
  versus
• 12:09
  like
• 12:09
  giving.
• 12:09
  Dedicating
• 12:10
  more
• 12:10
  floor
• 12:10
  pad
• 12:11
  to
• 12:11
  selling
• 12:12
  products.
• 12:12
  It
• 12:12
  goes
• 12:12
  back
• 12:12
  to
• 12:12
  my
• 12:13
  earlier
• 12:13
  answer
• 12:13
  of
• 12:13
  both
• 12:14
  and.
• 12:14
  Right.
• 12:15
  So,
• 12:15
  yes,
• 12:16
  we
• 12:16
  might
• 12:16
  be
• 12:16
  taking
• 12:16
  up
• 12:16
  a
• 12:17
  little
• 12:17
  bit
• 12:17
  more
• 12:17
  room
• 12:17
  than
• 12:18
  usual,
• 12:18
  and
• 12:18
  we
• 12:18
  do
• 12:18
  that
• 12:18
  with
• 12:19
  our
• 12:19
  staging
• 12:19
  rooms
• 12:19
  as
• 12:20
  well.
• 12:20
  But
• 12:20
  we
• 12:21
  know
• 12:21
  that
• 12:22
  the
• 12:22
  behavior
• 12:22
  that
• 12:23
  it'll
• 12:23
  drive.
• 12:24
  We
• 12:24
  believe
• 12:25
  in
• 12:25
  our
• 12:25
  growth
• 12:26
  of
• 12:26
  community.
• 12:26
  Right.
• 12:27
  By
• 12:27
  getting
• 12:27
  the
• 12:27
  guests
• 12:27
  in
• 12:28
  the
• 12:28
  store,
• 12:28
  we
• 12:28
  are
• 12:29
  kind
• 12:29
  of
• 12:29
  locking
• 12:30
  them
• 12:30
  in
• 12:30
  to
• 12:30
  becoming
• 12:30
  loyal.
• 12:31
  Those
• 12:31
  foods
• 12:31
  households
• 12:32
  bring
• 12:32
  in
• 12:32
  their
• 12:32
  friends,
• 12:32
  bring
• 12:32
  in
• 12:33
  their
• 12:33
  family.
• 12:33
  When
• 12:33
  we
• 12:34
  open
• 12:34
  a
• 12:34
  new
• 12:34
  store,
• 12:35
  we
• 12:35
  bring
• 12:35
  in
• 12:36
  local,
• 12:38
  the
• 12:38
  mayor
• 12:38
  and
• 12:39
  influencers.
• 12:39
  And
• 12:39
  the
• 12:40
  first
• 12:40
  time
• 12:40
  that
• 12:40
  they
• 12:40
  come
• 12:41
  in
• 12:41
  the
• 12:41
  store,
• 12:41
  they
• 12:42
  are
• 12:42
  just
• 12:42
  raving
• 12:43
  about
• 12:43
  this
• 12:43
  experience.
• 12:44
  Right.
• 12:44
  And
• 12:44
  so
• 12:45
  that's
• 12:45
  what
• 12:45
  we
• 12:45
  want.
• 12:45
  And
• 12:46
  it
• 12:46
  organically
• 12:46
  drives
• 12:47
  the
• 12:47
  revenue.
• 12:48
  And
• 12:48
  so
• 12:48
  we
• 12:48
  can
• 12:48
  take
• 12:49
  the
• 12:49
  time
• 12:49
  to
• 12:49
  kind
• 12:49
  of
• 12:49
  design
• 12:50
  the
• 12:50
  stores
• 12:50
  to
• 12:50
  dedicate
• 12:51
  more
• 12:51
  space
• 12:51
  to
• 12:51
  that.
• 12:51
  Yeah,
• 12:52
  but
• 12:52
  sometimes
• 12:53
  you
• 12:53
  can
• 12:53
  rent
• 12:53
  out
• 12:54
  our
• 12:54
  space
• 12:54
  as
• 12:54
  well.
• 12:55
  You
• 12:55
  can
• 12:55
  have
• 12:56
  tea
• 12:56
  parties,
• 12:56
  you
• 12:56
  can
• 12:57
  have
• 12:57
  cake
• 12:57
  decorating,
• 12:58
  and
• 12:58
  we
• 12:58
  do
• 12:58
  a
• 12:58
  lot
• 12:58
  of
• 12:58
  events
• 12:59
  on
• 12:59
  our
• 12:59
  own
• 12:59
  as
• 12:59
  well
• 13:00
  that
• 13:00
  organically
• 13:00
  drive
• 13:01
  that
• 13:01
  entertainment
• 13:01
  and
• 13:02
  drive
• 13:02
  footsteps
• 13:02
  in
• 13:03
  the
• 13:03
  store
• 13:03
  and
• 13:03
  of
• 13:03
  course
• 13:04
  that
• 13:04
  drives
• 13:04
  revenue.
• 13:04
  Right,
• 13:05
  got
• 13:05
  it.
• 13:05
  Chad,
• 13:06
  I'm
• 13:06
  curious
• 13:06
  too.
• 13:06
  We've
• 13:06
  heard
• 13:06
  today
• 13:07
  a
• 13:07
  couple
• 13:07
  things
• 13:07
  around
• 13:07
  the
• 13:08
  food
• 13:08
  service
• 13:08
  element
• 13:09
  and
• 13:09
  particularly,
• 13:09
  you
• 13:09
  know,
• 13:10
  given
• 13:10
  the
• 13:10
  digital
• 13:11
  focus
• 13:11
  of
• 13:11
  your
• 13:11
  job
• 13:12
  and
• 13:12
  food
• 13:13
  service
• 13:13
  being
• 13:13
  still
• 13:14
  a
• 13:14
  value
• 13:14
  oriented
• 13:15
  play
• 13:15
  for
• 13:15
  most
• 13:15
  grocers
• 13:16
  relative
• 13:16
  to
• 13:16
  the
• 13:17
  other
• 13:18
  consideration
• 13:18
  set
• 13:19
  that's
• 13:19
  out
• 13:19
  there
• 13:19
  for
• 13:19
  most
• 13:20
  consumers.
• 13:20
  Are
• 13:20
  you
• 13:21
  piping
• 13:21
  that
• 13:21
  into
• 13:23
  to
• 13:23
  your
• 13:24
  customers
• 13:24
  via
• 13:24
  like,
• 13:25
  can
• 13:25
  they
• 13:26
  order
• 13:26
  online
• 13:26
  and
• 13:26
  pick
• 13:27
  up
• 13:27
  the
• 13:27
  food
• 13:27
  service
• 13:27
  items
• 13:28
  in
• 13:28
  the
• 13:28
  store
• 13:29
  or
• 13:29
  have
• 13:29
  them
• 13:30
  delivered
• 13:30
  from
• 13:31
  the
• 13:31
  Lowe's
• 13:31
  store
• 13:32
  to
• 13:32
  their
• 13:32
  home?
• 13:33
  How
• 13:33
  are
• 13:33
  you
• 13:33
  thinking
• 13:33
  about
• 13:33
  that
• 13:34
  evolution?
• 13:34
  So?
• 13:35
  Well,
• 13:35
  commerce
• 13:36
  is
• 13:36
  something
• 13:36
  we've
• 13:37
  been
• 13:37
  investing
• 13:37
  in
• 13:37
  for
• 13:37
  a
• 13:37
  long
• 13:38
  time.
• 13:38
  So
• 13:38
  when
• 13:38
  you
• 13:38
  think
• 13:39
  about
• 13:39
  the
• 13:39
  grocery
• 13:39
  order,
• 13:40
  where
• 13:40
  you
• 13:40
  can
• 13:40
  order
• 13:40
  anything
• 13:41
  now
• 13:41
  through
• 13:41
  Lowe's
• 13:41
  Foods
• 13:42
  to
• 13:42
  go
• 13:42
  groceries,
• 13:43
  catering,
• 13:44
  cake
• 13:44
  so
• 13:44
  you
• 13:44
  can
• 13:44
  put
• 13:44
  on
• 13:45
  full
• 13:45
  events
• 13:46
  and
• 13:46
  if
• 13:46
  you
• 13:47
  want
• 13:47
  the
• 13:47
  quick
• 13:47
  turn.
• 13:47
  Right.
• 13:48
  Like
• 13:48
  the
• 13:48
  quick
• 13:48
  things,
• 13:48
  that's
• 13:49
  what
• 13:49
  we're
• 13:49
  working
• 13:49
  on
• 13:49
  right
• 13:50
  now,
• 13:50
  trying
• 13:50
  to
• 13:50
  figure
• 13:50
  out
• 13:51
  and
• 13:51
  unlock
• 13:52
  that
• 13:52
  experience.
• 13:52
  Because
• 13:53
  we
• 13:53
  have
• 13:53
  our
• 13:53
  boxcar
• 13:54
  coffee,
• 13:55
  we
• 13:55
  have
• 13:55
  our
• 13:55
  chicken
• 13:55
  kitchen,
• 13:56
  we
• 13:56
  can
• 13:56
  mobilize
• 13:57
  anything.
• 13:57
  It's
• 13:57
  a
• 13:57
  matter
• 13:58
  of
• 13:58
  how
• 13:58
  do
• 13:58
  we
• 13:58
  do
• 13:58
  it
• 13:58
  in
• 13:58
  a
• 13:59
  seamless
• 13:59
  way.
• 13:59
  Got
• 14:00
  it.
• 14:00
  That's
• 14:00
  intuitive.
• 14:01
  So
• 14:01
  we
• 14:01
  can
• 14:01
  deliver
• 14:02
  on
• 14:02
  the
• 14:02
  promise.
• 14:02
  Right.
• 14:03
  It's
• 14:03
  a
• 14:03
  different
• 14:03
  operation,
• 14:04
  it's
• 14:04
  different
• 14:04
  technology.
• 14:05
  And
• 14:05
  there's
• 14:06
  a
• 14:06
  technology
• 14:06
  solve
• 14:07
  that
• 14:07
  we'll
• 14:07
  need
• 14:07
  someday.
• 14:07
  Right.
• 14:08
  So
• 14:08
  talking
• 14:08
  about
• 14:08
  strategy,
• 14:09
  if
• 14:09
  our
• 14:09
  strategy
• 14:09
  is
• 14:09
  to
• 14:10
  grow
• 14:10
  food
• 14:10
  service,
• 14:11
  we
• 14:11
  need
• 14:11
  malleable
• 14:12
  technology
• 14:13
  that
• 14:13
  will
• 14:13
  help
• 14:13
  us
• 14:13
  really
• 14:14
  stand
• 14:14
  up.
• 14:14
  An
• 14:14
  alternative
• 14:15
  E
• 14:15
  comm
• 14:15
  approach.
• 14:16
  But
• 14:16
  make
• 14:16
  it
• 14:17
  seamless
• 14:17
  for
• 14:17
  the
• 14:17
  guests
• 14:17
  so
• 14:18
  they're
• 14:18
  not
• 14:18
  going
• 14:18
  to
• 14:18
  five
• 14:19
  different
• 14:19
  apps.
• 14:19
  Exactly.
• 14:20
  That's
• 14:20
  the
• 14:21
  perfect
• 14:21
  example
• 14:21
  of
• 14:21
  what
• 14:21
  we
• 14:22
  were
• 14:22
  talking
• 14:22
  about.
• 14:22
  And
• 14:22
  that's
• 14:22
  the
• 14:23
  challenge
• 14:23
  right
• 14:23
  now
• 14:23
  or
• 14:24
  the
• 14:24
  friction
• 14:24
  point
• 14:24
  for
• 14:25
  you
• 14:25
  as
• 14:25
  a
• 14:26
  grocer
• 14:26
  to
• 14:26
  be
• 14:26
  able
• 14:27
  to
• 14:27
  enable
• 14:27
  things
• 14:28
  like
• 14:28
  ordering
• 14:28
  from
• 14:28
  the
• 14:28
  chicken
• 14:29
  kitchen
• 14:29
  directly
• 14:29
  to
• 14:30
  home
• 14:30
  is
• 14:30
  just
• 14:31
  how
• 14:31
  do
• 14:31
  you
• 14:31
  make
• 14:31
  it
• 14:31
  that
• 14:32
  seamless
• 14:32
  experience
• 14:32
  so
• 14:33
  I
• 14:33
  don't
• 14:33
  have
• 14:33
  to
• 14:33
  go
• 14:33
  to
• 14:33
  doordash,
• 14:34
  to
• 14:34
  Uber
• 14:35
  Eats,
• 14:35
  to
• 14:35
  Instacart,
• 14:36
  et
• 14:36
  cetera.
• 14:37
  Make
• 14:37
  it
• 14:37
  easy
• 14:38
  for
• 14:38
  the
• 14:38
  guests
• 14:39
  so
• 14:39
  that
• 14:39
  they
• 14:39
  don't
• 14:39
  have
• 14:39
  to
• 14:39
  think
• 14:40
  they
• 14:40
  can
• 14:40
  just
• 14:40
  purchase
• 14:41
  it,
• 14:41
  trust
• 14:41
  it,
• 14:42
  and
• 14:42
  then
• 14:42
  enjoy
• 14:42
  it.
• 14:43
  And
• 14:43
  being
• 14:43
  intentional
• 14:44
  about
• 14:44
  where
• 14:45
  you
• 14:45
  expect
• 14:45
  them
• 14:45
  to
• 14:46
  look
• 14:47
  for
• 14:47
  it.
• 14:47
  Right.
• 14:47
  Whether
• 14:48
  what's
• 14:48
  on
• 14:48
  your
• 14:48
  app,
• 14:49
  on
• 14:49
  another
• 14:49
  app,
• 14:49
  whatever,
• 14:50
  but
• 14:50
  being
• 14:50
  intentional
• 14:51
  about
• 14:51
  why.
• 14:51
  You'Re
• 14:51
  doing
• 14:51
  it
• 14:51
  and
• 14:52
  be
• 14:52
  true
• 14:52
  to
• 14:52
  our
• 14:52
  brand.
• 14:52
  Right?
• 14:53
  We
• 14:53
  are
• 14:53
  very,
• 14:54
  very
• 14:54
  focused
• 14:54
  on
• 14:54
  the
• 14:54
  Lowe's
• 14:55
  Foods
• 14:55
  brand.
• 14:55
  It
• 14:55
  took
• 14:55
  a
• 14:56
  long
• 14:56
  time
• 14:56
  and
• 14:56
  a
• 14:56
  lot
• 14:56
  of
• 14:56
  people
• 14:57
  to
• 14:57
  build
• 14:58
  and
• 14:58
  we
• 14:58
  have
• 14:59
  to
• 14:59
  maintain
• 14:59
  that
• 14:59
  brand
• 15:00
  equity
• 15:00
  and
• 15:00
  deliver
• 15:01
  it
• 15:01
  in
• 15:01
  everything
• 15:01
  that
• 15:02
  we
• 15:02
  do
• 15:02
  and
• 15:03
  it
• 15:03
  doesn't
• 15:03
  come
• 15:03
  easy.
• 15:04
  It's
• 15:04
  a
• 15:04
  lot
• 15:04
  of
• 15:04
  work
• 15:04
  to
• 15:05
  make
• 15:05
  that
• 15:05
  brand
• 15:05
  work.
• 15:06
  I
• 15:06
  have
• 15:07
  no
• 15:07
  doubt.
• 15:08
  No
• 15:08
  doubt,
• 15:08
  Chad.
• 15:09
  Well,
• 15:09
  Chad,
• 15:09
  thank
• 15:10
  you
• 15:10
  so
• 15:10
  much.
• 15:11
  Thank
• 15:11
  you
• 15:11
  so
• 15:11
  much.
• 15:11
  My
• 15:11
  pleasure
• 15:12
  for
• 15:12
  those
• 15:12
  omnitalk
• 15:13
  fans,
• 15:13
  Chad.
• 15:13
  We've
• 15:14
  been
• 15:14
  trying
• 15:14
  to
• 15:14
  get
• 15:14
  Chad
• 15:14
  back
• 15:15
  on
• 15:15
  the
• 15:15
  program
• 15:15
  here
• 15:15
  for
• 15:15
  a
• 15:15
  while
• 15:16
  and
• 15:16
  we
• 15:16
  finally
• 15:16
  made
• 15:16
  it
• 15:17
  happen
• 15:17
  here
• 15:17
  in
• 15:17
  Florida
• 15:18
  at
• 15:18
  fmi.
• 15:19
  Thanks
• 15:19
  FMI
• 15:20
  for
• 15:20
  hosting
• 15:20
  us
• 15:21
  at
• 15:21
  this
• 15:21
  conference.
• 15:21
  Thanks
• 15:22
  to
• 15:22
  Simbi
• 15:22
  as
• 15:23
  well.
• 15:23
  We're
• 15:23
  going
• 15:23
  to
• 15:23
  be
• 15:24
  back
• 15:24
  tomorrow,
• 15:24
  booth
• 15:25
  108.
• 15:25
  If
• 15:25
  you
• 15:25
  want
• 15:26
  to
• 15:26
  stop
• 15:26
  by,
• 15:26
  say
• 15:26
  hello.
• 15:27
  We're
• 15:27
  going
• 15:27
  to
• 15:27
  be
• 15:27
  here
• 15:28
  doing
• 15:28
  interviews
• 15:29
  all
• 15:29
  day
• 15:29
  long
• 15:29
  and
• 15:30
  until
• 15:30
  then,
• 15:30
  Ann.
• 15:31
  Be
• 15:31
  careful
• 15:31
  out
• 15:31
  there.