Latest / Omni Talk Retail / Walmart's Big Week, Starbucks Gets An AI Brain & Aldi's Coming For Everyone | Fast Five

Transcript

Walmart's Big Week, Starbucks Gets An AI Brain & Aldi's Coming For Everyone | Fast Five · Omni Talk Retail

0:04
Nothing
0:05
says
0:05
welcome
0:06
to
0:06
the
0:06
greatest
0:07
city
0:07
in
0:07
the
0:07
world
0:08
like
0:08
a
0:08
podcast
0:08
booth
0:09
in
0:09
an
0:09
exhibition
0:09
hall.
0:10
I've
0:10
been
0:10
taking
0:10
a
0:10
lot
0:11
of
0:11
grief
0:11
about
0:11
my
0:11
takes
0:12
on
0:12
Agenda
0:12
Ki
0:13
lately.
0:13
We
0:14
still
0:14
underestimate
0:15
what
0:16
the
0:16
impact
0:16
of
0:16
GLP1s
0:17
is
0:17
going
0:17
to
0:17
be
0:17
on
0:18
retail.
0:18
If
0:19
you
0:19
stuck
0:19
around
0:19
to
0:19
the
0:20
end,.
0:20
If
0:20
you
0:20
got
0:20
here
0:21
until
0:21
Inside
0:21
Baseball,
0:22
I
0:22
have
0:22
literally
0:23
no
0:23
idea
0:23
how
0:24
we've
0:24
gone
0:24
from
0:24
Aldi's
0:25
corporate
0:25
structure
0:25
to
0:26
Danny
0:26
DeVito
0:26
Tatisi.
0:29
Hello
0:29
and
0:29
welcome
0:30
to
0:30
the
0:30
Omnitalk
0:31
Retail
0:31
Fast
0:32
5.
0:32
This
0:32
week's
0:33
episode
0:33
was
0:34
recorded
0:34
from
0:34
my
0:35
favorite
0:35
city
0:35
in
0:36
the
0:36
world,
0:36
London,
0:37
with
0:37
one
0:37
of
0:37
my
0:38
all
0:38
time
0:39
favorite
0:39
guest
0:40
hosts,
0:40
my
0:40
brother
0:40
from
0:41
another
0:41
monother
0:42
across
0:42
the
0:42
pond,
0:43
Shoptalk's
0:44
VP
0:44
of
0:44
Original
0:45
content,
0:46
Ben
0:46
Miller.
0:47
Ben
0:47
and
0:47
I
0:47
talked
0:48
a
0:48
little
0:48
Shop
0:48
Talk
0:48
Europe,
0:49
Danny
0:50
DeVito,
0:50
tattoos
0:51
and
0:51
all
0:51
the
0:52
week's
0:52
top
0:52
retail
0:52
headlines
0:53
at
0:53
the
0:53
end
0:53
of
0:54
a
0:54
long
0:54
day
0:55
which
0:55
saw
0:55
me
0:55
interview
0:56
over
0:56
10
0:56
fabulous
0:57
retail
0:57
executives
0:58
right
0:58
from
0:58
the
0:59
floor
0:59
of
0:59
the
0:59
Retail
0:59
Technology
1:00
show.
1:01
All
1:01
of
1:01
which
1:01
you
1:01
can
1:01
find
1:02
by
1:02
going
1:02
to
1:02
YouTube.com
1:03
omnitalkretail
1:05
thanks
1:05
to
1:05
Vuzion
1:05
and
1:06
RTS
1:07
for
1:07
putting
1:07
me
1:07
up
1:07
in
1:08
a
1:08
fabulous
1:08
podcast
1:09
studio
1:09
and
1:09
helping
1:10
me
1:10
to
1:10
interview
1:10
every
1:11
mainstage
1:12
keynote
1:12
executive
1:13
as
1:13
they
1:13
came
1:13
off
1:14
stage.
1:14
So
1:14
let's
1:14
not
1:14
keep
1:15
you
1:15
in
1:15
suspense
1:15
any
1:16
longer.
1:16
Let's
1:17
get
1:17
to
1:17
the
1:17
headlines
1:17
right
1:18
after
1:18
we
1:18
hear
1:18
from
1:18
all
1:19
our
1:19
wonderful
1:19
partners
1:20
who
1:20
make
1:20
this
1:20
podcast
1:21
possible
1:22
each
1:22
and
1:22
every
1:23
week.
1:25
This
1:25
episode
1:25
of
1:25
The
1:26
OmniTalk
1:26
Retail
1:27
Fast
1:27
5
1:27
is
1:27
brought
1:27
to
1:28
you
1:28
by
1:28
the
1:28
A
1:28
and
1:28
M
1:29
Consumer
1:29
and
1:29
Retail
1:29
Group.
1:30
The
1:30
A
1:30
and
1:30
M
1:30
Consumer
1:30
and
1:31
Retail
1:31
Group
1:31
is
1:31
a
1:31
management
1:32
consulting
1:32
firm
1:32
that
1:33
tackles
1:33
the
1:33
most
1:33
complex
1:34
challenges
1:34
and
1:35
advances
1:35
its
1:35
clients,
1:36
people
1:36
and
1:36
communities
1:37
toward
1:38
their
1:38
maximum
1:38
potential.
1:39
CRG
1:40
brings
1:40
the
1:40
experience,
1:41
tools
1:41
and
1:41
operator
1:42
like
1:42
pragmatism
1:43
to
1:43
help
1:43
retailers
1:44
and
1:44
consumer
1:44
products
1:45
companies
1:45
be
1:45
on
1:46
the
1:46
right
1:46
side
1:46
of
1:47
disruption
1:48
and
1:48
Miracle,
1:49
the
1:49
catalyst
1:50
of
1:50
Commerce.
1:50
Over
1:51
450
1:51
retailers
1:52
are
1:52
opening
1:52
new
1:53
revenue
1:53
streams
1:54
with
1:54
marketplaces,
1:54
dropship
1:55
and
1:55
retail
1:56
media.
1:56
And
1:56
succeeding
1:57
with
1:57
Miracle,
1:58
you
1:58
can
1:58
unlock
1:58
more
1:59
products,
1:59
more
1:59
partners
2:00
and
2:00
more
2:00
profits
2:01
without
2:01
the
2:01
heavy
2:02
lifting.
2:02
So
2:02
what's
2:02
holding
2:03
you
2:03
back?
2:03
Visit
2:04
Miracle.com
2:04
to
2:05
learn
2:05
more.
2:05
That's
2:05
M
2:06
I
2:06
R
2:06
A
2:06
K
2:07
L.com
2:08
and
2:09
Corso.
2:10
Your
2:10
stores
2:10
are
2:10
full
2:11
of
2:11
data,
2:11
but
2:12
are
2:12
your
2:12
teams
2:12
acting
2:13
on
2:13
it?
2:13
Corso
2:14
turns
2:14
retail
2:15
data
2:15
into
2:15
personalized
2:16
daily
2:16
to
2:16
dos
2:17
that
2:17
drive
2:17
sales,
2:17
reduce
2:18
waste
2:18
and
2:18
improve
2:19
execution.
2:20
No
2:20
fluff,
2:21
just
2:21
action.
2:22
Help
2:22
your
2:22
managers
2:23
focus
2:23
on
2:23
what
2:23
matters
2:24
most.
2:24
Visit
2:24
corso.com
2:25
to
2:26
see
2:26
Intelligent
2:27
management
2:27
in
2:27
motion
2:28
and
2:28
Infios.
2:29
At
2:29
Infios,
2:30
they
2:30
unite
2:30
warehousing,
2:31
transportation
2:32
and
2:32
order
2:32
management
2:33
into
2:33
a
2:33
seamless,
2:34
adaptable
2:34
network.
2:35
Infios
2:35
helps
2:36
you
2:36
stay
2:36
ahead
2:36
from
2:37
promise
2:37
to
2:37
delivery
2:38
and
2:38
every
2:38
step
2:39
in
2:39
between.
2:40
To
2:40
learn
2:40
more
2:40
visit
2:41
infios.com
2:42
and
2:43
Ocampo
2:43
Capital.
2:44
Ocampo
2:44
Capital
2:45
is
2:45
a
2:45
venture
2:45
capital
2:46
firm
2:46
founded
2:47
by
2:47
retail
2:47
executives
2:48
with
2:48
the
2:48
aim
2:48
of
2:48
helping
2:49
early
2:49
stage
2:49
consumer
2:50
businesses
2:50
succeed
2:51
through
2:51
investment
2:52
and
2:52
operational
2:53
support.
2:54
Learn
2:54
more@ocampo
2:55
capital.com
2:57
and
2:57
finally,
2:57
Valoc
2:58
Veloc
2:58
is
2:59
a
2:59
proven
2:59
e
2:59
grocery
3:00
technology
3:00
built
3:00
by
3:01
grocers
3:01
for
3:02
grocers.
3:02
Exactly
3:03
the
3:03
type
3:03
of
3:03
technology
3:04
we
3:04
like
3:04
here
3:04
at
3:05
Omnitalk.
3:05
They
3:06
unite
3:06
proprietary
3:07
software
3:07
with
3:07
right
3:07
size
3:08
automation
3:08
to
3:08
use
3:09
to
3:09
make
3:09
same
3:09
day
3:09
delivery
3:10
profitable.
3:11
To
3:11
learn
3:11
more
3:11
visit
3:12
volok.com
3:13
that's
3:13
v
3:13
e
3:14
l
3:14
o
3:14
q.com
3:16
Crikey.
3:17
They
3:17
said
3:17
it
3:18
couldn't
3:18
be
3:18
done.
3:18
Ben
3:19
Miller
3:19
live,
3:20
live
3:20
in
3:20
London,
3:21
sitting
3:21
right
3:21
next
3:22
to
3:22
me.
3:22
How's
3:22
the
3:22
forum,
3:23
as
3:23
they
3:23
say
3:23
over
3:23
here?
3:24
Christopher
3:25
Walton,
3:25
a
3:26
jolly
3:26
fine
3:26
hello
3:27
on
3:27
this
3:27
fine
3:27
evening
3:28
for
3:28
you
3:28
and
3:29
welcome
3:30
to
3:30
London.
3:32
I
3:32
appreciate
3:32
you
3:33
having
3:33
me
3:33
on.
3:33
And
3:34
nothing
3:34
says
3:35
welcome
3:35
to
3:36
the
3:36
greatest
3:36
city
3:36
in
3:36
the
3:37
world
3:37
like
3:37
a
3:37
podcast
3:38
booth
3:39
in
3:39
an
3:39
exhibition
3:39
hall.
3:40
Yeah,
3:40
the
3:40
greatest
3:41
city
3:41
in
3:41
the
3:41
world.
3:41
That's
3:41
like
3:42
a
3:42
line
3:42
from
3:42
Hamilton.
3:43
Yes.
3:43
The
3:43
greatest
3:44
city
3:44
in
3:44
the
3:44
world.
3:45
Oh,
3:45
man.
3:45
All
3:45
right,
3:45
so
3:46
we
3:46
are
3:46
now
3:47
less
3:47
than
3:47
two
3:48
months
3:48
away,
3:48
right,
3:49
from
3:49
Shop
3:49
Talk
3:49
Europe
3:49
as
3:50
well.
3:51
What's
3:51
in
3:51
store?
3:52
What
3:52
are
3:52
you
3:52
most
3:52
excited
3:53
about
3:53
for
3:53
Shop
3:53
Talk?
3:53
You're
3:54
a
3:54
Ben,
3:54
you're
3:54
kind
3:54
of
3:54
the
3:55
man
3:55
of
3:55
the
3:55
man,
3:56
one
3:56
of
3:56
the
3:56
men,
3:56
one
3:57
of
3:57
the
3:57
many
3:57
men
3:58
and
3:58
women
3:58
of
3:58
the
3:58
hour
3:59
at
3:59
that
3:59
show
3:59
at
4:00
that
4:00
conference.
4:00
It's
4:01
like
4:01
it's
4:01
coming
4:01
up
4:01
really
4:01
quick.
4:02
So
4:02
we
4:02
are
4:03
9th
4:04
to,
4:04
to
4:04
the
4:04
11th
4:05
of
4:05
June
4:05
this
4:05
year
4:06
back
4:06
in
4:07
Barcelona.
4:07
Fabulous,
4:08
fabulous
4:08
Barcelona.
4:10
I
4:10
guess
4:10
for
4:11
me
4:11
there's
4:11
two
4:12
things
4:12
I'm
4:12
really
4:12
looking
4:12
forward
4:13
to.
4:13
Okay,
4:13
so
4:13
number
4:14
one,
4:15
the
4:15
conversation
4:15
that
4:16
we
4:16
had
4:16
about
4:16
AI
4:17
in
4:17
retail
4:18
in
4:20
Vegas
4:21
at
4:21
Shop
4:21
Talk
4:21
spring
4:22
was
4:22
incredible.
4:23
It
4:23
was
4:23
nuanced,
4:24
it
4:24
was
4:24
interesting.
4:25
People
4:25
were
4:26
sharing.
4:27
I'm
4:27
so
4:28
interested
4:28
to
4:28
hear
4:28
what
4:28
a
4:29
conversation
4:29
is
4:29
in
4:30
Europe.
4:31
One
4:31
of
4:31
the
4:31
challenges
4:31
you
4:32
have
4:32
in
4:32
Europe
4:32
is
4:32
some
4:32
of
4:33
the
4:33
solutions.
4:33
They're
4:33
not
4:33
available
4:33
yet.
4:34
Right.
4:34
You
4:34
know,
4:34
some
4:35
of
4:35
the
4:35
platforms
4:35
haven't
4:35
been
4:36
rolled
4:36
out
4:36
yet.
4:36
Right.
4:37
So
4:38
the
4:38
things
4:39
that
4:39
you
4:39
can
4:39
do
4:40
and
4:40
the
4:40
speed
4:41
that
4:41
you
4:41
want
4:41
to
4:41
move
4:41
at
4:42
in
4:42
Europe
4:42
is
4:42
different.
4:42
So
4:43
hearing
4:43
how
4:43
European
4:44
retailers
4:44
are
4:44
tackling
4:45
that
4:45
I
4:45
think
4:45
is
4:45
going
4:45
to
4:46
be
4:46
absolutely
4:46
fascinating.
4:49
We've
4:49
got
4:49
a
4:49
killer,
4:49
an
4:50
absolutely
4:50
remarkable.
4:51
Oh,
4:51
yeah,
4:52
okay.
4:52
This
4:53
is
4:53
what
4:53
I
4:53
always
4:53
love
4:53
when
4:53
you
4:53
come
4:53
on.
4:54
I'm
4:54
always
4:54
like,
4:54
okay,
4:54
who's,
4:55
who's
4:55
going
4:55
to
4:55
be
4:55
there?
4:56
We've
4:56
got
4:57
so
4:57
l',
4:58
Oreal,
4:58
ikea,
5:00
Nestle,
5:00
We've
5:01
got
5:01
the
5:01
CEO.
5:01
Co
5:02
CEO
5:02
of
5:02
Zalando.
5:03
Oh,
5:03
wow.
5:04
Cathor,
5:05
Sephora,
5:07
Shopify,
5:08
Netflix,
5:08
Reddit,
5:09
Nvidia.
5:11
It's
5:11
brilliant
5:12
lineup.
5:13
Really
5:13
looking
5:13
forward.
5:13
So
5:14
that's
5:14
number
5:14
one.
5:15
Number
5:15
two,
5:16
we're
5:16
gonna
5:17
have
5:17
the
5:17
mother
5:17
of
5:17
all
5:18
after
5:18
show
5:18
parties
5:18
this
5:19
year.
5:19
Really?
5:19
We
5:19
are.
5:20
But
5:20
that's
5:20
another
5:21
day
5:21
and
5:21
another
5:21
story.
5:22
Is
5:22
that
5:22
or
5:22
is
5:22
that
5:22
just
5:22
the
5:22
biggest
5:23
tease
5:23
of
5:23
all
5:23
time?
5:24
Tease
5:24
of
5:24
all
5:24
time.
5:25
You're
5:25
such
5:25
a
5:25
tease.
5:25
You're
5:26
teasing
5:26
me,
5:26
Mr.
5:26
Miller.
5:27
All
5:27
right,
5:27
well,
5:27
that
5:27
sounds
5:28
awesome.
5:28
Carfar's
5:29
been
5:29
in
5:29
our
5:29
headlines
5:29
like
5:30
multiple
5:30
times
5:30
over
5:30
the
5:31
past
5:31
few
5:31
weeks,
5:31
so
5:31
that's
5:32
a
5:32
huge
5:32
get
5:32
too.
5:32
They're
5:33
doing
5:33
some
5:33
really
5:33
great
5:33
things
5:34
on
5:34
the
5:34
smart
5:34
store
5:34
front
5:35
and
5:35
of
5:35
course
5:35
the
5:36
smart
5:36
shopping
5:37
carts
5:37
down
5:37
in
5:37
Israel
5:38
that
5:38
they
5:38
announced
5:38
as
5:38
well.
5:39
Yeah,
5:39
and
5:39
we've
5:39
got
5:39
Justin.
5:40
Who?
5:40
Justin.
5:41
She
5:41
runs
5:42
E
5:42
Commerce
5:42
in
5:43
Spain.
5:43
Used
5:44
to
5:44
run
5:44
E
5:44
Commerce
5:44
in
5:44
Italy.
5:45
She's
5:45
fantastic.
5:46
So
5:46
she's
5:46
one
5:46
of
5:46
our
5:46
track
5:47
speakers
5:47
at
5:47
the
5:47
show.
5:47
Awesome,
5:48
awesome.
5:48
So
5:48
should
5:48
we
5:49
get
5:49
to
5:49
this
5:49
week's
5:50
headlines,
5:50
Ben?
5:50
Let's
5:50
do
5:50
it.
5:51
Let's
5:51
do
5:51
it.
5:51
It's
5:51
like
5:52
6pm
5:52
here
5:52
in
5:52
London.
5:53
Let's
5:53
do
5:53
this.
5:53
All
5:54
right.
5:54
In
5:54
this
5:54
week's
5:55
Fast5,
5:55
we've
5:55
got
5:56
news
5:56
on
5:56
Starbucks
5:57
launching
5:57
a
5:57
beta
5:58
app,
5:58
inside
5:58
chatgpt.
5:59
Instacart
6:00
making
6:00
its
6:00
most
6:01
aggressive
6:01
international
6:02
move
6:03
or
6:03
leap.
6:04
See
6:04
what
6:04
I
6:04
did
6:04
there,
6:05
Ben,
6:05
today
6:06
when
6:06
they
6:06
announced
6:06
the
6:06
acquisition
6:07
of
6:07
Columbia
6:08
based
6:08
retail
6:08
tech
6:09
platform
6:09
instalap.
6:10
And
6:11
Walmart
6:11
giving
6:11
its
6:12
iconic
6:12
great
6:12
value
6:13
private
6:13
label
6:13
brand
6:13
its
6:14
first
6:14
full
6:14
redesign
6:15
in
6:16
more
6:16
than
6:16
a
6:16
decade.
6:17
Oh,
6:17
and
6:17
let
6:17
me
6:17
also
6:17
not
6:18
forget
6:18
Aldi
6:19
quietly
6:19
using
6:19
its
6:20
US
6:20
Stores
6:21
and
6:21
as
6:21
the
6:21
testing
6:22
ground
6:22
for
6:22
a
6:22
new
6:22
global
6:23
store
6:23
format.
6:24
I
6:24
saved
6:24
that
6:24
one
6:24
for
6:25
you,
6:25
Ben.
6:26
But
6:26
we
6:26
begin
6:27
today
6:27
with
6:28
Walmart
6:28
making
6:29
a
6:29
major
6:29
play
6:29
in
6:30
the
6:30
GLP1
6:30
and
6:31
weight
6:31
management
6:33
space.
6:33
All
6:34
right,
6:35
got
6:35
to
6:35
clear
6:35
my
6:35
throat
6:36
there,
6:36
Ben.
6:36
It's
6:36
been
6:37
a
6:37
long
6:37
day
6:37
of
6:37
speaking.
6:38
All
6:38
right.
6:38
Walmart
6:39
is
6:39
expanding
6:39
its
6:39
Better
6:40
Care
6:40
Services
6:40
platform
6:41
to
6:41
include
6:41
weight
6:42
management
6:42
support
6:42
for
6:43
customers
6:43
on
6:43
or
6:44
exploring
6:44
GLP1
6:45
therapies.
6:46
Connecting
6:47
its
6:47
nearly
6:47
4,600
6:48
store
6:49
pharmacy
6:49
network
6:49
with
6:50
virtual
6:50
care
6:50
providers,
6:51
nutrition
6:51
support,
6:51
same
6:52
day
6:52
medication
6:53
delivery,
6:53
all
6:53
under
6:54
one
6:54
digital
6:54
destination.
6:55
According
6:55
to
6:56
Walmart's
6:56
corporate
6:57
website,
6:57
the
6:57
Better
6:58
Care
6:58
Services
6:58
platform
6:59
now
6:59
features
7:00
weight
7:00
management
7:00
support
7:01
from
7:01
five
7:02
third
7:02
party
7:02
providers
7:03
spanning
7:03
personalized
7:04
fitness
7:04
programming,
7:05
registered
7:05
dietitian
7:06
services,
7:06
AI
7:07
supported
7:07
coaching
7:07
and
7:07
telehealth
7:09
based
7:09
medication
7:10
management.
7:10
The
7:11
platform
7:11
also
7:11
includes
7:12
access
7:12
to
7:12
a
7:12
full
7:13
range
7:13
of
7:13
GLP
7:14
medications
7:15
including
7:15
the
7:16
including
7:16
the
7:16
newly
7:17
available
7:17
oral
7:18
option.
7:18
Ben?
7:19
Yes,
7:19
it
7:19
is
7:20
the
7:21
newly
7:21
available
7:21
oral
7:22
option
7:22
Foundeo
7:23
or
7:24
or
7:24
fulgrupron
7:25
for
7:25
those
7:26
that
7:26
like
7:26
what?
7:26
I
7:27
mispronounce
7:27
generic
7:28
drug
7:28
names,
7:29
which
7:29
I
7:29
was
7:29
waiting
7:30
to
7:30
do,
7:30
all
7:30
of
7:31
which
7:31
are
7:31
available
7:31
through
7:31
insurance
7:32
or
7:32
transparent
7:33
cash
7:34
pay
7:34
pricing.
7:35
All
7:35
right,
7:35
Ben,
7:36
here's
7:36
my
7:36
question
7:36
for
7:37
you.
7:37
In
7:38
your
7:38
Shop
7:38
Talk
7:38
Zeitgeist,
7:39
which
7:39
you
7:39
gave
7:40
just
7:40
back
7:40
in
7:41
March.
7:41
So
7:41
less
7:42
than
7:42
two
7:42
months
7:42
ago,
7:43
you
7:44
said
7:44
that
7:44
GLP1S
7:45
was
7:45
one
7:45
of
7:45
the
7:45
top
7:46
six
7:46
or
7:46
seven
7:47
trends
7:48
that
7:48
would
7:48
impact
7:48
retail
7:49
over
7:49
the
7:49
next
7:49
decade.
7:50
So
7:50
I'm
7:50
guessing
7:50
you
7:51
love
7:51
this
7:51
move
7:51
from
7:51
Walmart.
7:52
My
7:52
only
7:52
question
7:53
is
7:53
how
7:53
much?
7:54
Yeah,
7:55
you're
7:55
absolutely
7:55
right.
7:56
You've
7:56
guessed
7:56
it.
7:56
I
7:57
love
7:57
it
7:57
and
7:57
I
7:58
love
7:58
it
7:58
a
7:58
lot.
7:59
So
7:59
let's
8:00
take
8:00
back
8:01
to
8:01
some
8:01
of
8:01
the
8:01
points
8:01
that
8:01
we
8:02
made
8:02
in
8:02
the
8:03
presentation
8:03
back
8:03
in
8:04
March.
8:04
Why
8:05
do
8:05
we
8:05
think
8:06
GLP1S
8:07
is
8:07
going
8:07
to
8:07
have
8:07
such
8:08
an
8:08
impact
8:08
on
8:08
on
8:09
the
8:09
retail
8:09
market?
8:10
I
8:10
mean,
8:10
firstly,
8:10
look
8:11
at
8:11
the
8:11
growth
8:11
numbers.
8:12
So
8:12
Morgan
8:13
Stanley
8:13
currently
8:14
predicts
8:15
that
8:15
the
8:16
2
8:16
to
8:16
3%
8:17
of
8:18
the
8:18
US
8:18
population
8:18
that
8:19
are
8:19
taking
8:19
GLP1s
8:20
over
8:20
the
8:20
next
8:21
decade
8:21
could
8:21
grow
8:21
to
8:22
20%.
8:24
At
8:24
the
8:25
moment,
8:25
it's
8:25
about
8:25
1%.
8:26
Globally,
8:26
that
8:26
could
8:27
grow
8:27
to
8:27
10%.
8:28
So
8:28
huge
8:29
growth.
8:29
Okay,
8:30
now
8:31
what
8:31
we
8:31
do
8:32
in
8:32
the
8:32
Zeitgeist
8:32
is
8:33
we
8:33
look
8:33
at,
8:33
okay,
8:35
what
8:35
do
8:35
we
8:35
think
8:35
are
8:35
the
8:35
big
8:36
trends
8:36
and
8:36
what
8:36
do
8:36
we
8:37
project
8:37
them
8:37
forward?
8:38
And
8:38
the
8:38
point
8:38
that
8:38
I
8:39
was
8:39
trying
8:39
to
8:39
land
8:39
in
8:40
the
8:40
Zeitgeist
8:40
is
8:40
that
8:41
I
8:41
think
8:41
collectively
8:42
as
8:42
an
8:42
industry,
8:43
we
8:43
still
8:44
underestimate
8:46
what
8:46
the
8:46
impact
8:46
of
8:47
GLP1
8:47
is
8:47
going
8:48
to
8:48
be
8:48
on
8:48
retail.
8:48
So
8:48
let
8:49
me
8:49
kind
8:49
of
8:49
unpack
8:49
this.
8:50
Yeah.
8:50
Just
8:51
this
8:51
week,
8:52
McKinsey
8:53
published
8:53
some
8:53
brand
8:53
new
8:54
research.
8:55
They
8:55
looked
8:56
at
8:56
21
8:57
food
8:57
and
8:57
beverage
8:58
categories
8:58
to
8:59
look
8:59
at
8:59
what
8:59
the
8:59
spend
9:00
trend
9:00
is.
9:01
For
9:01
people
9:01
who've
9:01
been
9:01
on
9:02
GLP1s
9:03
for
9:03
over
9:03
six
9:03
months.
9:05
Of
9:05
the
9:05
24
9:06
categories,
9:08
only
9:09
four
9:10
had
9:10
seen
9:10
an
9:10
increase
9:11
in
9:11
spend.
9:12
And
9:12
of
9:12
those,
9:13
yoghurt
9:14
had
9:14
seen
9:14
the
9:14
biggest
9:15
increase.
9:15
But
9:15
that
9:16
increase
9:16
was
9:16
only
9:17
2
9:17
and
9:18
a
9:18
half
9:18
percent.
9:18
Okay,
9:19
okay.
9:19
On
9:19
the
9:20
other
9:20
side,
9:20
it
9:21
was
9:21
negative
9:22
11.5%
9:23
for
9:24
crisps
9:24
and
9:24
savoury
9:25
snacks.
9:25
It
9:26
was
9:26
negative
9:26
8.5%
9:27
for
9:27
sweet
9:27
bakery.
9:28
So,
9:29
so
9:29
look,
9:31
why
9:31
do
9:31
I
9:31
love
9:32
this
9:32
headline?
9:32
I
9:33
love
9:33
this
9:33
headline
9:33
because
9:34
clearly
9:34
Walmart
9:35
doesn't
9:35
underestimate
9:35
its
9:36
impact.
9:37
Yet
9:37
Walmart
9:37
has
9:38
recognized
9:38
it
9:39
and
9:39
it's
9:40
connecting
9:40
its
9:41
digital
9:41
ecosystem
9:42
in
9:42
a
9:42
way
9:42
that
9:42
it
9:43
can
9:43
because
9:44
the
9:44
properties
9:44
that
9:45
it's
9:45
built
9:45
to
9:46
really
9:46
help
9:47
customers
9:47
to
9:47
understand
9:48
and
9:48
at
9:49
the
9:49
same
9:49
time
9:49
to
9:50
learn
9:50
more
9:50
about
9:51
what's
9:51
going
9:51
on.
9:52
So
9:52
Ben,
9:52
I'm
9:52
curious,
9:53
does
9:53
that
9:54
mean
9:54
that
9:54
Walmart
9:55
and
9:55
others
9:55
are
9:55
also
9:56
just
9:56
at
9:56
risk
9:56
from
9:57
GLP1
9:57
in
9:57
terms
9:58
of
9:58
declining
9:58
revenue
9:59
overall
9:59
as
9:59
people
10:00
are
10:00
just
10:00
starting
10:00
to
10:00
eat
10:01
less
10:01
as
10:01
well.
10:02
Yeah.
10:03
So
10:03
one
10:03
of
10:03
the
10:03
things
10:03
we
10:04
found
10:04
people
10:05
are
10:05
eating
10:05
less
10:06
but
10:07
what
10:07
they
10:07
are
10:07
prioritizing
10:08
is
10:09
small
10:09
portions
10:10
on
10:11
the
10:11
go,
10:11
convenience
10:12
solutions,
10:14
products
10:14
that
10:15
help
10:15
with
10:15
digestive,
10:19
easy
10:19
digestive
10:20
solutions.
10:22
So
10:22
diets
10:22
are
10:22
changing
10:23
that
10:23
people
10:23
are
10:24
buying
10:24
more
10:24
often
10:24
so
10:25
it
10:25
leads
10:25
itself
10:25
to
10:25
more
10:25
convenient
10:26
products,
10:26
more
10:26
fresh,
10:27
which
10:27
are
10:27
higher
10:27
margin.
10:28
So
10:28
there's
10:28
some
10:29
massive
10:29
category
10:30
shifts.
10:32
If
10:32
you
10:32
follow
10:32
those
10:33
shifts
10:33
and
10:33
provide
10:34
the
10:34
solutions
10:34
that
10:34
people
10:35
in
10:35
need,
10:35
there's
10:35
actually
10:35
margin
10:36
gains
10:36
to
10:36
be
10:36
made
10:37
there.
10:37
But
10:37
it's
10:38
about
10:38
recognizing
10:39
and
10:39
not
10:39
underestimating.
10:40
That
10:40
was
10:40
the
10:40
point
10:41
I
10:41
was
10:41
trying
10:41
to
10:41
make.
10:41
Right,
10:42
right.
10:42
And
10:43
the
10:43
pharmacy
10:43
keeps
10:43
the
10:43
foot
10:43
traffic,
10:44
foot
10:45
traffic
10:45
coming
10:45
to
10:45
the
10:46
Walmart
10:46
store
10:46
too.
10:47
Can
10:47
I
10:47
just
10:47
say
10:49
as
10:49
a
10:49
final
10:50
point.
10:50
Yeah.
10:51
I'd
10:51
really
10:51
love
10:52
to
10:52
hear
10:52
what
10:52
you
10:52
think
10:52
of
10:52
this
10:53
but
10:53
I
10:54
love
10:54
anything
10:55
that
10:55
connects
10:56
the
10:56
pharmacy
10:56
to
10:56
the
10:56
rest
10:56
of
10:57
the
10:57
store.
10:57
Look
10:58
because
10:58
running
10:58
pharmacy,
10:59
it's
10:59
a
10:59
hard
10:59
business,
11:00
it's
11:00
hard
11:01
people
11:02
cost
11:02
could
11:03
be
11:03
dangerous.
11:04
Anything
11:05
that
11:05
provides
11:06
a
11:06
greater
11:06
halo
11:07
than
11:07
just
11:07
footfall
11:08
I
11:08
think
11:08
is
11:08
a
11:08
real
11:08
positive
11:09
and
11:09
I
11:09
love
11:09
that
11:09
Walmart
11:10
leaning
11:10
into
11:10
that.
11:10
Yeah,
11:11
Yeah.
11:11
I
11:11
mean
11:11
100%
11:12
on
11:12
the
11:12
pharmacy
11:12
side.
11:12
I
11:13
mean
11:13
I
11:13
don't
11:13
have
11:14
much
11:14
to
11:14
add.
11:14
I
11:14
mean
11:14
that's
11:14
why
11:14
I
11:15
wanted
11:15
you
11:15
to
11:15
share
11:16
the
11:16
data
11:16
that
11:17
I
11:17
know
11:17
you
11:17
always
11:17
bring
11:17
to
11:17
the
11:17
table
11:18
on
11:18
this
11:18
because
11:18
it
11:18
is
11:18
really
11:19
interesting
11:19
to
11:19
think
11:19
about,
11:19
you
11:20
know
11:20
and
11:20
then
11:20
there's
11:20
also
11:21
the
11:21
question
11:21
that
11:21
I
11:21
have
11:21
too,
11:22
which
11:22
I
11:22
didn't
11:22
ask
11:22
you
11:23
about,
11:23
which
11:23
I'd
11:23
love
11:23
to
11:23
get
11:23
your
11:24
thoughts
11:24
on.
11:24
Maybe
11:24
at
11:24
the
11:24
end
11:24
is
11:25
like,
11:25
you
11:25
know,
11:26
you
11:26
get
11:26
all
11:26
these
11:26
reports
11:27
and
11:27
some,
11:28
in
11:28
some
11:28
ways
11:28
all
11:29
these
11:29
reports
11:29
happening
11:30
at
11:30
the
11:30
same
11:30
time
11:30
get
11:30
a
11:31
little
11:31
bit
11:31
self
11:31
enforcing
11:32
in
11:32
terms
11:32
of
11:32
the
11:33
predictions
11:33
that
11:33
everyone's
11:34
making
11:34
around
11:34
the
11:35
severity
11:35
or
11:36
the
11:36
impact.
11:36
And
11:36
so
11:37
you
11:37
always
11:37
have
11:37
to
11:37
take
11:37
that
11:37
with
11:37
a
11:38
grain
11:38
of
11:38
salt.
11:38
But,
11:38
but
11:39
to
11:39
your
11:39
point
11:39
you're
11:39
saying
11:39
like
11:40
there's
11:40
going
11:40
to
11:40
be
11:41
a
11:41
probable
11:41
impact
11:41
here.
11:42
So,
11:42
so
11:42
I
11:42
like
11:42
it
11:43
because
11:43
you
11:43
know,
11:44
Walmart
11:44
is
11:44
basically
11:45
attacking
11:45
what
11:45
is
11:46
a
11:46
sizable
11:46
trend
11:47
through
11:47
their
11:47
pharmacy
11:47
which
11:48
engenders
11:48
loyalty
11:49
in
11:49
their
11:49
customer.
11:50
I
11:50
think
11:50
it's
11:50
a
11:50
pretty,
11:51
it's
11:51
pretty
11:52
remarkable
11:52
given
11:53
the
11:53
effort
11:54
and
11:54
some
11:54
would
11:54
say
11:54
failed
11:55
efforts
11:55
they
11:55
put
11:55
into
11:56
their
11:56
clinics
11:57
as
11:57
well.
11:57
And
11:57
now
11:58
they're
11:58
doing
11:58
this
11:58
digitally.
11:59
So
11:59
I
11:59
think
11:59
that's
12:00
important.
12:00
You
12:00
know,
12:00
it's
12:01
asset
12:01
light
12:01
approach
12:01
to
12:02
doing
12:02
this
12:02
which
12:03
is
12:03
very
12:03
different
12:03
than
12:03
where
12:03
they
12:04
were
12:04
like
12:04
two
12:04
or
12:04
three
12:04
years
12:04
ago.
12:05
Yeah,
12:05
I
12:05
love
12:05
that.
12:06
And
12:06
then
12:06
the
12:06
other
12:06
point
12:06
I'd
12:07
make
12:07
too,
12:07
the
12:07
second
12:07
thing
12:08
I
12:08
make
12:08
is
12:09
they've
12:09
learned
12:10
Walmart
12:10
has
12:10
done
12:10
a
12:11
great
12:11
job
12:11
of
12:11
learning
12:11
how
12:11
to
12:11
speak
12:12
to
12:12
their
12:12
customer
12:12
digitally
12:13
and
12:13
specifically
12:14
via
12:14
the
12:14
Walmart
12:14
plus
12:15
subscriber
12:15
too.
12:15
So
12:16
I
12:16
think
12:16
this
12:16
is
12:17
a
12:17
very
12:17
this,
12:17
and
12:18
this
12:18
is
12:18
very
12:18
much
12:18
who
12:19
this
12:19
is
12:19
geared
12:19
after.
12:20
Even
12:20
though
12:20
you're
12:21
saying
12:21
in
12:21
those
12:21
numbers,
12:21
you're
12:22
probably
12:22
hitting
12:22
the
12:23
broad
12:23
base
12:23
of
12:23
America
12:24
too,
12:24
and
12:24
the
12:24
broad
12:24
base
12:24
of
12:25
consumers
12:25
globally,
12:26
but
12:26
that
12:27
is
12:27
who
12:27
you're
12:27
gearing
12:28
this
12:28
towards.
12:28
And
12:29
Walmart
12:29
plus,
12:30
it's
12:30
going
12:30
to
12:30
come
12:30
up
12:30
again
12:30
later
12:31
too,
12:31
as
12:31
part
12:31
of
12:31
their
12:31
strategy,
12:32
but
12:32
you
12:32
can
12:32
see
12:32
how
12:33
they're
12:33
continuing
12:33
to
12:33
try
12:34
to
12:34
lean
12:34
into
12:35
that
12:35
as
12:35
kind
12:35
of
12:36
their
12:36
competitive
12:37
moat,
12:37
so
12:37
to
12:37
speak,
12:38
in
12:38
the
12:38
landscape.
12:38
Okay,
12:39
we're
12:39
going
12:39
to
12:39
move
12:39
on.
12:40
On
12:40
headline
12:40
number
12:41
two,
12:42
Starbucks
12:42
has
12:43
launched
12:43
a
12:43
beta
12:44
app
12:44
within
12:45
ChatGPT.
12:47
It
12:47
allows
12:47
customers
12:48
to
12:48
describe
12:48
their
12:49
mood
12:49
or
12:49
upload
12:49
a
12:50
photo
12:50
to
12:50
receive
12:50
personalized
12:51
drink
12:51
suggestions
12:52
and
12:53
then
12:53
customize
12:54
and
12:54
then
12:54
begin
12:55
the
12:55
order
12:55
in
12:56
ChatGPT
12:57
before
12:58
completing
12:59
checkout
12:59
in
12:59
the
13:00
Starbucks
13:00
app
13:00
or
13:00
on
13:01
Starbucks
13:01
starbucks.com
13:02
so
13:03
according
13:03
to
13:03
Starbucks,
13:04
the
13:05
beta
13:05
app
13:05
launched
13:06
on
13:06
April
13:06
15
13:06
and
13:07
is
13:07
accessible
13:08
by
13:08
enabling
13:09
it
13:09
through
13:10
ChatGPT's
13:11
App
13:11
Directory
13:12
and
13:12
then
13:12
tagging
13:13
at
13:14
Starbucks
13:14
in
13:14
a
13:15
prompt.
13:16
Critically,
13:16
as
13:16
I
13:17
just
13:17
said,
13:17
checkout
13:17
does
13:18
not
13:18
happen
13:18
within
13:19
ChatGPT.
13:20
Customers
13:20
complete
13:21
the
13:21
purchase
13:21
in
13:21
a
13:21
Starbucks
13:22
app
13:22
on
13:22
Starbucks.com,
13:23
which
13:23
means
13:23
Starbucks
13:24
retains
13:24
all
13:25
the
13:25
first
13:25
party
13:25
loyalty
13:26
data
13:27
and
13:27
it
13:27
keeps
13:28
the
13:28
transaction
13:29
in
13:29
its
13:29
own
13:29
ecosystem.
13:30
And
13:30
Chris.
13:31
Yes,
13:31
here
13:31
we
13:32
go.
13:32
This
13:33
is
13:33
also
13:34
the
13:34
A
13:34
and
13:34
M.
13:35
I
13:35
love
13:35
what
13:35
the
13:35
guest
13:36
horse
13:36
puts
13:36
me
13:36
on
13:36
the
13:36
spot.
13:37
I've
13:37
been
13:38
waiting
13:38
to
13:38
do
13:38
this.
13:39
Right,
13:39
the
13:39
A
13:39
and
13:40
M
13:40
put
13:40
you
13:40
on
13:40
the
13:40
stop
13:40
question.
13:41
So
13:41
firstly,
13:42
they've
13:42
asked
13:42
me
13:42
to
13:42
imagine
13:43
that
13:43
I'm
13:43
not
13:43
in
13:43
a
13:43
coffee
13:44
shop.
13:44
I'm
13:44
in
13:44
a
13:44
tea
13:44
store,
13:45
a
13:45
very
13:45
British
13:46
tea
13:46
shop.
13:46
To
13:47
play
13:47
into
13:47
the
13:47
full
13:48
Britishness.
13:48
Sounds
13:48
like
13:48
A
13:48
and
13:49
M
13:49
to
13:49
me.
13:49
So
13:49
thank
13:49
you,
13:50
Chad.
13:50
Okay,
13:51
here
13:51
we
13:51
go.
13:52
Given
13:52
the
13:52
high
13:53
usage
13:53
and
13:54
historical
13:54
praise
13:55
of
13:55
Starbucks
13:56
mobile
13:56
app,
13:57
are
13:58
these
13:58
ChatGPT
13:59
and
13:59
other
14:00
agentic
14:00
AI
14:01
integrations
14:02
a
14:02
more
14:02
offensive
14:04
or
14:04
defensive
14:05
play?
14:05
So
14:06
look,
14:06
in
14:06
other
14:06
words,
14:07
do
14:07
Starbucks
14:08
and
14:08
other
14:08
brands
14:09
believe
14:09
that
14:09
consumers
14:10
truly
14:10
are
14:11
looking
14:11
for
14:11
more
14:12
inspiration
14:12
and
14:13
discovery
14:13
when
14:14
they're
14:14
on
14:14
the
14:14
AI
14:14
platform
14:15
compared
14:15
to
14:15
when
14:15
they're
14:16
on
14:16
the
14:16
apps.
14:16
Therefore,
14:17
it's
14:17
incremental
14:19
or.
14:20
Or
14:20
keep
14:20
going.
14:21
Wow.
14:21
Or
14:21
the
14:22
customer
14:22
journeys
14:22
will
14:23
eventually
14:23
go
14:23
direct
14:24
to
14:24
the
14:24
apps,
14:24
less
14:25
in
14:25
favor
14:25
of
14:25
these
14:26
platforms,
14:26
so
14:26
they'll
14:27
have
14:27
to
14:27
integrate
14:27
everything
14:28
to
14:28
avoid
14:28
losing
14:29
traffic.
14:29
Oh
14:29
my
14:30
God.
14:30
That.
14:31
Jeez.
14:31
Oh
14:31
my
14:32
God.
14:34
I
14:34
took,
14:34
you
14:35
know,
14:35
I've
14:35
been
14:35
taking
14:35
a
14:35
lot
14:35
of
14:35
grief
14:36
from
14:36
some
14:36
folks
14:37
that
14:37
I
14:37
know
14:37
pretty
14:38
well
14:38
about
14:38
my
14:38
takes
14:39
on
14:39
agentic
14:39
AI
14:39
lately,
14:40
Ben.
14:40
Like,
14:41
I
14:41
had
14:41
a
14:41
friend
14:41
of
14:41
mine
14:41
who
14:41
I
14:41
respect
14:42
a
14:42
lot.
14:42
He
14:42
told
14:42
me,
14:43
and
14:43
he
14:43
works
14:43
for
14:43
a
14:43
data
14:44
company,
14:44
which
14:44
I
14:44
won't
14:44
say
14:44
who
14:44
they
14:45
are.
14:45
I
14:45
won't
14:45
say
14:45
his
14:45
name
14:45
either.
14:46
But
14:46
he
14:46
said
14:46
his,
14:47
his,
14:48
his
14:48
boss
14:49
called
14:49
him
14:49
and
14:49
said,
14:50
dude,
14:50
they're
14:51
Walton's
14:51
totally
14:52
wrong
14:52
on
14:52
his
14:52
takes.
14:53
So
14:53
I
14:53
don't
14:53
know
14:53
what
14:53
I'm
14:54
missing
14:54
here
14:54
because
14:54
I
14:54
don't
14:55
like
14:55
this
14:55
move,
14:55
Ben.
14:56
I
14:56
think
14:57
that's
14:57
my
14:57
answer
14:57
to
14:57
the
14:57
question.
14:58
And,
14:58
you
14:58
know,
14:58
especially
14:59
if
14:59
I
14:59
was
15:00
lauding
15:00
Starbucks
15:01
last
15:01
week
15:02
for
15:03
their
15:03
weekly
15:03
pay
15:04
and
15:04
they're
15:04
increasing
15:04
their
15:05
barista
15:05
bonuses.
15:06
So
15:06
good.
15:06
So
15:07
good.
15:07
And
15:07
so
15:07
this
15:07
move
15:08
smells
15:08
of.
15:09
It's.
15:10
I
15:10
think
15:10
it's
15:10
important
15:10
to
15:11
put
15:11
it
15:11
in
15:11
context.
15:11
This
15:11
move
15:11
smells
15:12
to
15:12
me
15:12
of
15:12
tech
15:13
teams
15:14
not
15:14
being
15:14
aligned
15:14
to
15:15
the
15:15
business
15:15
problems
15:16
and
15:16
kind
15:16
of
15:17
chasing
15:17
the
15:17
shiny
15:17
tech
15:18
that's
15:18
out
15:18
there.
15:19
I
15:19
don't
15:19
like
15:19
it
15:19
because
15:20
all
15:20
the
15:20
reasons
15:21
I've
15:21
expressed
15:21
on
15:21
past
15:22
shows
15:22
and
15:22
which
15:23
gets
15:23
to
15:23
the
15:23
heart
15:23
of
15:23
the
15:23
question
15:24
that
15:24
A
15:24
and
15:24
M
15:24
is
15:24
asking,
15:25
which
15:25
is,
15:25
does
15:26
the
15:26
consumer
15:26
really
15:27
need
15:27
this
15:27
inside
15:27
of
15:27
a
15:28
chat
15:28
GPT
15:29
experience
15:29
or
15:30
some
15:30
other
15:30
LLM
15:31
experience?
15:31
I
15:31
don't
15:32
think
15:32
so.
15:32
You
15:32
could
15:32
ultimately
15:33
do
15:33
that
15:33
in
15:33
the
15:33
Starbucks
15:34
app.
15:34
So
15:35
I
15:35
don't
15:35
get
15:35
why
15:36
the
15:36
traffic
15:36
is
15:36
necessarily
15:37
going
15:37
to
15:37
go
15:37
here
15:38
to
15:38
do
15:38
this.
15:38
So
15:39
it
15:39
begs
15:39
the
15:39
question,
15:39
me,
15:40
why,
15:41
why
15:41
now?
15:41
Why
15:42
do
15:42
you
15:42
need
15:42
to
15:42
do
15:42
this?
15:42
It's
15:43
not
15:43
make
15:43
or
15:43
break
15:43
for
15:44
you.
15:44
Starbucks,
15:44
at
15:45
this
15:45
point
15:45
in
15:45
time,
15:45
why
15:46
be
15:46
the
15:46
first
15:46
penguin
15:47
in
15:47
the
15:47
water?
15:47
That's
15:47
the
15:47
reason.
15:47
I
15:48
don't
15:48
like
15:48
it.
15:49
Interesting,
15:49
interesting.
15:50
I
15:50
mean,
15:50
look,
15:52
in
15:52
principle,
15:53
I
15:54
don't
15:54
disagree.
15:55
Yeah,
15:56
I
15:56
don't
15:56
entirely
15:57
agree.
15:57
I
15:57
mean,
15:58
no,
15:58
it's
15:58
fine.
15:58
I
15:59
don't
15:59
know
15:59
what
15:59
I
15:59
think
15:59
anymore
16:00
on
16:00
this
16:00
one.
16:00
Look,
16:01
I
16:01
mean,
16:01
look
16:01
at
16:01
the
16:01
bear
16:01
numbers.
16:02
There
16:02
is
16:02
800
16:03
million
16:04
people
16:05
on
16:05
ChatGPT
16:06
every
16:06
week.
16:07
So
16:08
it's
16:08
really
16:08
hard
16:09
to
16:09
walk
16:09
away
16:10
from
16:10
that
16:10
levels
16:10
of
16:11
eyeballs,
16:11
that
16:12
level
16:12
of
16:12
traffic
16:14
and
16:14
agent
16:14
E
16:15
commerce.
16:15
We've
16:16
already
16:16
hit
16:16
one
16:16
of
16:16
the
16:16
really
16:17
big
16:17
talking
16:18
points
16:18
in
16:18
our
16:18
industry.
16:18
Genti
16:19
Thomas
16:19
is
16:19
another
16:20
one.
16:21
And
16:21
what
16:21
became
16:22
super
16:22
clear
16:23
in
16:23
Vegas
16:24
is
16:24
we
16:25
don't
16:25
know
16:25
what
16:25
the
16:25
end
16:25
game
16:26
is
16:26
going
16:26
to
16:26
be.
16:27
Nobody
16:27
knows
16:28
what
16:28
the
16:28
end
16:28
game
16:28
is.
16:29
One
16:29
thing
16:29
that
16:29
became
16:30
really
16:30
clear,
16:30
though,
16:31
is
16:31
you
16:31
can't
16:32
risk
16:32
not
16:33
being,
16:33
being
16:33
part
16:33
of
16:33
the
16:33
conversation
16:34
and
16:34
not
16:34
trying
16:34
things
16:35
because
16:36
one
16:36
of
16:36
these
16:36
solutions
16:36
might
16:37
suddenly
16:37
be
16:37
the
16:37
one
16:38
that
16:38
works.
16:38
And
16:39
if
16:39
you
16:40
stepped
16:40
out
16:40
of
16:40
that
16:41
conversation,
16:41
you're
16:42
playing
16:42
catch
16:42
up
16:42
on
16:42
the
16:42
speed
16:43
at
16:43
which
16:43
he's
16:43
moving.
16:44
So
16:44
there
16:44
is
16:45
that
16:45
that
16:45
jeopardy.
16:47
Having
16:47
said
16:48
that,
16:49
there's
16:49
always
16:49
a
16:50
but.
16:50
There's
16:50
always
16:51
a
16:51
but.
16:51
The
16:51
but
16:52
is
16:52
I
16:52
don't
16:53
love
16:53
the
16:53
in
16:53
app
16:54
approach
16:54
either.
16:54
You
16:55
don't?
16:56
Personally,
16:56
I
16:56
think
16:56
there
16:57
is
16:57
too
16:57
much
16:58
friction
16:59
for
16:59
this
17:00
to
17:00
be
17:00
the
17:00
end
17:00
game.
17:00
It
17:01
doesn't
17:01
feel
17:01
like
17:02
this
17:02
is
17:02
where
17:02
things
17:02
are
17:03
going
17:03
to
17:03
end
17:03
up.
17:04
I'm
17:04
not
17:04
going
17:04
to
17:04
get
17:04
in
17:05
the
17:05
weeds
17:05
on
17:05
the,
17:06
on
17:06
Starbucks
17:07
actual
17:07
application.
17:09
Yeah.
17:09
I
17:09
think
17:09
everybody
17:10
needs
17:10
to
17:10
test
17:11
things
17:11
at
17:11
the
17:11
moment.
17:11
Yeah.
17:12
If
17:12
anybody
17:13
wants
17:13
to
17:13
see
17:13
it.
17:14
Scott
17:15
Wingo
17:15
has
17:15
done
17:15
a
17:15
great
17:16
video
17:16
on
17:16
his
17:17
LinkedIn.
17:18
He
17:18
goes
17:18
through
17:18
it,
17:19
he
17:19
shows
17:19
you,
17:19
shows
17:20
you
17:20
what
17:20
it
17:20
is.
17:20
He
17:21
gives
17:21
it
17:21
two
17:21
out
17:21
of
17:21
ten.
17:22
Two
17:22
out
17:22
of
17:22
ten.
17:23
Two
17:23
out
17:23
of
17:23
10.
17:23
Wow.
17:23
And
17:24
we
17:24
know
17:24
how
17:24
good
17:24
the
17:24
Starbucks
17:25
digital
17:25
experience.
17:25
Yes.
17:26
So
17:27
look,
17:27
have
17:28
a
17:28
look
17:28
at
17:28
that.
17:28
If
17:28
you
17:28
want
17:28
to
17:29
get
17:29
in
17:29
the
17:29
weeds
17:29
on
17:30
the
17:30
actual
17:31
tool
17:31
as
17:32
a
17:32
direction
17:32
of
17:32
travel.
17:33
I
17:33
think
17:33
every
17:34
brand
17:34
have
17:34
got
17:34
to
17:35
understand
17:35
how
17:35
they
17:35
show
17:35
up
17:35
in
17:36
agentic
17:36
commerce
17:37
in
17:37
apps.
17:38
I'm
17:38
not
17:38
there
17:39
on
17:39
yet.
17:39
Yeah,
17:39
see
17:40
I
17:40
get
17:40
the
17:40
whole
17:40
thing
17:40
about
17:41
like
17:41
you
17:41
need
17:41
to
17:41
experiment,
17:41
you
17:42
need
17:42
to
17:42
show
17:42
up.
17:42
But
17:42
do
17:42
you,
17:43
do
17:43
you
17:43
really
17:44
like,
17:44
do
17:44
you
17:44
need
17:44
to
17:44
do
17:45
it
17:45
right
17:45
now?
17:45
Because
17:45
like,
17:46
you
17:46
know,
17:46
like
17:46
the
17:47
other
17:47
point
17:47
I
17:47
bring
17:47
up,
17:47
like
17:47
I
17:48
can
17:48
remember
17:48
just
17:48
even
17:48
a
17:48
few
17:49
years
17:49
ago,
17:49
like
17:49
with
17:49
TikTok,
17:50
people
17:50
were
17:51
complaining
17:51
about
17:51
how
17:51
TikTok
17:52
was
17:52
inspiring
17:52
all
17:53
these
17:53
crazy,
17:53
crazy
17:54
drink
17:54
formulations
17:55
that
17:55
people
17:55
were
17:56
bringing
17:56
into
17:56
the
17:56
stores
17:56
and
17:56
it
17:57
was
17:57
causing
17:57
the
17:57
baristas
17:58
headaches.
17:58
So
17:59
like
17:59
if
17:59
you
17:59
think
17:59
about
17:59
this
18:00
and
18:00
you're
18:00
like,
18:00
oh,
18:00
I
18:01
make,
18:01
I'm
18:01
experimenting
18:02
with
18:02
this
18:02
and
18:02
it
18:02
works,
18:03
that's
18:04
you're
18:04
gonna
18:04
have
18:04
that
18:04
problem
18:05
exponentially
18:06
and
18:06
you
18:06
don't
18:07
want
18:07
that.
18:07
So
18:07
I
18:07
don't
18:07
really
18:08
get
18:08
what
18:09
the
18:09
end
18:09
game
18:09
here
18:09
is
18:09
in
18:10
the
18:10
experimentation
18:10
other
18:11
than
18:11
to
18:11
say,
18:11
oh,
18:11
we're
18:12
experimenting.
18:13
And
18:13
that
18:13
really
18:14
leads.
18:14
Look,
18:14
there's
18:14
a
18:14
couple
18:15
of
18:15
other
18:15
things
18:15
that
18:15
I
18:16
couple
18:16
of
18:17
other
18:17
issues
18:17
I've
18:17
got
18:17
with
18:18
this
18:18
and
18:18
okay,
18:19
it's
18:19
Peter.
18:19
That's
18:20
fine.
18:21
Number
18:21
one,
18:23
the
18:23
merchant
18:23
in
18:24
me
18:24
is
18:25
still
18:25
worried
18:26
about
18:26
how
18:27
ruthless
18:28
Brian
18:29
Nichols
18:29
and
18:29
the
18:30
team
18:30
are
18:30
being
18:30
with
18:31
the
18:31
range
18:31
rationalization
18:32
at
18:32
Starbucks.
18:33
One
18:33
of
18:34
the
18:34
problems,
18:34
one
18:34
of
18:34
the
18:35
issues
18:35
that
18:35
caused
18:36
the
18:36
operational
18:37
challenges
18:38
that
18:38
Starbucks
18:38
are
18:38
having,
18:39
particularly
18:39
in
18:39
the
18:39
US
18:40
is
18:40
that
18:40
it
18:41
overranged.
18:41
The
18:42
range
18:42
was
18:42
far
18:42
too
18:42
great.
18:43
If
18:43
you
18:44
go
18:44
on
18:44
the
18:44
Starburst
18:44
website,
18:45
yeah,
18:45
it
18:46
says
18:46
this
18:46
new
18:46
ChatGPT
18:47
app
18:47
and
18:47
I'm
18:48
gonna
18:48
quote
18:48
here
18:48
is
18:48
a
18:48
new
18:49
way
18:49
to
18:49
discover
18:50
your
18:50
next
18:50
favorite
18:51
drink.
18:52
Alright,
18:53
Starbucks,
18:53
you've
18:54
gotta
18:54
take
18:54
a
18:54
step
18:54
back,
18:55
right?
18:55
You're
18:56
a
18:56
coffee
18:56
shop,
18:56
you
18:57
shouldn't
18:57
need
18:57
a
18:57
Gentic
18:58
commerce
18:58
to
18:58
help
18:58
people
18:58
understand
18:59
what
18:59
your
18:59
products
18:59
that
19:00
you
19:00
sell.
19:00
If
19:01
that's
19:01
the
19:01
case,
19:02
you've
19:03
overcomplicated
19:04
it
19:04
and
19:04
that
19:04
just
19:04
creates
19:05
those
19:05
operational
19:05
pressures.
19:06
Mic
19:06
drop.
19:06
Yeah,
19:06
I
19:06
wouldn't
19:07
be
19:07
surprised
19:07
if
19:07
this
19:07
gets
19:08
killed
19:08
sooner
19:08
rather
19:08
than
19:08
later.
19:09
I
19:09
really
19:09
wouldn't.
19:09
But
19:10
mark
19:10
it
19:10
down.
19:11
We'll
19:11
see
19:11
if
19:11
I'm
19:11
right.
19:11
We'll
19:12
see
19:12
if
19:12
I'm
19:12
wrong.
19:13
All
19:13
right,
19:13
let's
19:13
keep
19:13
moving
19:13
on.
19:14
Headline
19:14
number
19:14
three.
19:15
Instacart
19:16
has
19:16
announced
19:17
the
19:17
acquisition
19:17
of
19:18
instalap,
19:19
a
19:20
Colombia
19:20
based
19:20
global
19:21
fulfillment
19:21
and
19:21
Enable
19:21
it
19:22
platform
19:22
that
19:22
serves
19:23
nearly
19:23
100
19:23
grocery
19:24
retailers
19:24
and
19:24
marketplaces
19:25
across
19:25
13
19:26
countries
19:26
in
19:26
Latin
19:27
America,
19:27
Europe
19:27
and
19:28
the
19:28
Middle
19:28
East.
19:28
According
19:29
to
19:29
Grocery
19:29
Dive,
19:30
the
19:30
deal
19:30
gives
19:30
Instacart
19:31
an
19:31
immediate
19:31
foothold
19:32
with
19:32
established
19:32
retailer
19:33
relationships
19:34
outside
19:34
North
19:35
America,
19:35
including
19:36
Senko
19:36
Suit.
19:37
I
19:37
hope
19:37
I'm
19:37
saying
19:37
that
19:37
correctly.
19:38
Ben
19:38
in
19:38
Latin
19:39
America,
19:39
Continente
19:40
in
19:40
Portugal,
19:41
my.
19:42
My
19:42
favorite
19:42
Portuguese
19:43
retailer.
19:43
And
19:44
Geronimo,
19:44
Martins,
19:45
Lulu
19:45
and
19:45
Spar.
19:46
Instacart's
19:47
Chief
19:47
Commercial
19:47
Officer
19:48
Ryan
19:48
Hamburger
19:49
said
19:49
the
19:49
company
19:49
has
19:49
already
19:50
seen
19:50
growing
19:51
global
19:51
demand
19:51
for
19:52
its
19:52
enterprise
19:52
products,
19:53
including
19:53
Storefront
19:54
Pro
19:54
and
19:54
Kaper
19:55
carts,
19:55
with
19:55
early
19:55
traction
19:56
for
19:56
Kaper
19:56
in
19:56
Europe
19:57
and
19:57
Australia.
19:58
And
19:58
its
19:58
first
19:58
Storefront
19:59
Pro
20:00
launches
20:00
outside
20:00
North
20:01
America
20:01
with
20:01
Costco
20:02
in
20:02
France
20:02
and
20:03
Spain,
20:03
which
20:03
I
20:03
believe
20:03
we
20:04
covered
20:04
on
20:04
this
20:04
show.
20:05
Over
20:05
time,
20:05
Instacart
20:06
plans
20:06
to
20:06
bring
20:07
its
20:07
broader
20:07
suite
20:07
of
20:08
enterprise
20:08
technologies,
20:09
including
20:09
carrot
20:09
ads,
20:10
connected
20:10
stores
20:10
and
20:11
and
20:11
AI
20:11
and
20:11
data
20:11
solutions
20:12
to
20:12
instalap's
20:13
international
20:14
retail
20:14
partners.
20:15
Ben,
20:16
buy
20:16
or
20:16
sell
20:16
Instacart's
20:17
acquisition
20:17
of
20:18
Instalap
20:18
as
20:19
a
20:19
smart
20:19
step
20:19
forward
20:20
for
20:20
Instacart?
20:21
Yeah,
20:22
I'm
20:22
buying.
20:23
Okay,
20:23
so
20:24
let
20:24
me
20:24
take
20:24
through
20:24
it.
20:25
I
20:25
think
20:25
it's
20:25
a
20:26
really
20:26
interesting
20:26
story
20:27
and
20:27
part
20:28
of
20:28
the
20:28
interest
20:28
in
20:28
the
20:28
story
20:29
is
20:29
when
20:30
you
20:30
view
20:30
how
20:31
quick
20:31
commerce,
20:33
delivery,
20:34
connections
20:35
and
20:35
profitability
20:36
is
20:36
playing
20:36
out
20:37
in
20:37
the
20:37
grocery
20:37
space.
20:37
So
20:39
one
20:39
thing
20:39
that
20:39
we
20:39
know
20:40
is
20:40
that
20:41
no
20:41
matter
20:41
what
20:41
your
20:41
fulfillment
20:42
route
20:42
is,
20:44
ensuring
20:44
that
20:44
your
20:44
in
20:45
store
20:45
operations
20:45
are
20:46
efficient
20:46
as
20:46
possible
20:47
is
20:47
absolutely
20:48
critical
20:48
for
20:48
grocery
20:49
retailers.
20:50
Okay.
20:50
So
20:51
therefore,
20:51
seeing
20:52
Instacart
20:52
continue
20:53
to
20:53
develop
20:54
and
20:54
invest
20:54
in
20:55
that
20:55
part
20:55
of
20:55
its
20:55
proposition
20:56
I
20:57
think
20:57
is
20:58
huge.
20:58
Now
21:00
if
21:00
you
21:00
take
21:01
this
21:02
acquisition
21:03
in
21:04
isolation.
21:05
Okay,
21:05
yeah.
21:07
It's
21:07
always
21:07
really
21:07
hard
21:08
to
21:08
judge
21:09
an
21:10
acquisition
21:10
without
21:11
knowing
21:11
how
21:11
much
21:11
you
21:11
paid
21:12
for
21:12
it.
21:12
Right.
21:12
That's
21:13
a
21:13
good
21:13
point.
21:14
Fair
21:14
point.
21:14
Yeah.
21:16
The
21:16
financial
21:16
terms
21:16
for
21:17
this
21:17
haven't
21:17
been
21:17
disclosed,
21:18
so
21:19
I'm
21:19
going
21:19
to
21:19
talk
21:20
about
21:20
directly,
21:20
strategically
21:21
and
21:21
directionally
21:22
with
21:22
that
21:22
kind
21:22
of
21:22
quite
21:23
big
21:23
caveat.
21:23
Right,
21:23
right,
21:24
right.
21:24
Instacart
21:25
has
21:25
been
21:25
building
21:25
momentum
21:27
and
21:27
I
21:27
think
21:27
one
21:28
of
21:28
the
21:28
things
21:28
that
21:29
we
21:29
should
21:30
absolutely
21:30
think
21:30
about,
21:31
I
21:31
Hope
21:32
everybody's
21:32
taken
21:32
enough
21:32
notice
21:33
of
21:33
is
21:34
the
21:34
fact
21:34
that
21:35
Aldi
21:35
us
21:35
went
21:36
with
21:37
Storefront
21:37
Pro.
21:38
Yeah,
21:38
we
21:38
talked
21:38
about
21:38
that
21:39
too.
21:40
That's
21:40
huge.
21:40
It's
21:40
a
21:41
huge
21:41
signal
21:41
that
21:42
Aldi
21:42
are
21:42
moving
21:42
the
21:43
entire
21:43
operating
21:43
model
21:44
for
21:44
their
21:44
E
21:44
Comm
21:44
to
21:45
Instacart.
21:45
And
21:45
you
21:45
already
21:46
mentioned
21:46
Costco
21:46
in
21:47
Europe.
21:47
So
21:48
I
21:48
see
21:48
this
21:49
as
21:49
the
21:49
next
21:49
step
21:50
in
21:50
that
21:51
journey.
21:52
So
21:53
then
21:53
it
21:53
comes
21:54
to
21:54
what
21:54
is
21:54
Instacart
21:55
buying
21:55
for
21:55
how
21:56
much
21:56
we
21:56
don't
21:56
know.
21:56
Okay,
21:57
so
21:58
it's
21:59
buying
21:59
scale
22:00
and
22:00
crucially
22:01
is
22:01
buying
22:01
relationships.
22:02
Grocery
22:03
relationships
22:03
are
22:03
really
22:04
hard,
22:04
hard
22:04
fought,
22:05
hard
22:05
build.
22:06
Here's
22:06
100
22:07
retailers,
22:07
30
22:07
countries
22:08
outside
22:09
the
22:09
U.S.
22:10
strength
22:10
in
22:10
LATAM,
22:11
strength
22:12
in
22:12
the
22:12
Middle
22:12
East.
22:13
That's
22:14
a
22:14
really,
22:14
really
22:14
big
22:14
step
22:14
forward.
22:15
So
22:16
that's
22:16
a
22:16
big
22:16
tick
22:16
for
22:17
me.
22:17
Yeah,
22:17
hard
22:18
to
22:18
dislodge
22:18
too.
22:19
Grocery
22:19
relationships
22:20
are
22:20
hard
22:20
to
22:20
dislodge,
22:21
especially
22:21
in
22:21
this
22:21
front
22:22
when.
22:22
Who's
22:22
running
22:22
your
22:22
website?
22:23
You?
22:24
Well,
22:24
not
22:24
only
22:25
the
22:25
website,
22:25
the
22:25
full
22:25
fulfillment
22:26
and
22:26
the
22:27
store
22:27
solutions
22:27
to
22:27
enable
22:28
it.
22:28
You
22:29
mentioned
22:29
upsell.
22:30
Of
22:30
course
22:30
there's
22:30
Upsell,
22:31
Retail
22:31
media,
22:31
paycat.
22:32
We
22:32
can
22:32
come
22:32
back
22:32
to
22:32
that
22:33
one.
22:34
The
22:34
bit
22:35
that
22:35
really
22:35
intrigued
22:35
me
22:36
was,
22:36
okay,
22:37
you're
22:38
buying,
22:39
you're
22:39
fast
22:39
tracking
22:40
your
22:40
international
22:40
book
22:41
of
22:41
business,
22:42
Great.
22:42
But
22:43
what
22:43
about
22:43
the
22:43
tech?
22:44
Is
22:44
there
22:44
something
22:45
new
22:45
coming
22:45
into
22:46
Instacart
22:46
that
22:46
they're
22:46
buying
22:47
from
22:47
the
22:47
tech
22:47
as
22:47
well?
22:47
And
22:48
I
22:48
know
22:48
Insta
22:49
Leap
22:49
is
22:49
highly
22:50
considered,
22:50
so
22:52
look,
22:53
that's
22:53
interesting.
22:53
I
22:53
knew
22:54
we
22:54
were
22:54
going
22:54
to
22:54
talk.
22:54
You
22:54
told
22:54
me
22:54
we
22:55
were
22:55
going
22:55
to
22:55
talk
22:55
about
22:55
this
22:55
one.
22:55
So
22:56
I
22:56
asked
22:56
the
22:56
Instacart
22:56
team
22:57
outright,
22:57
did
22:58
you?
22:58
I
22:58
did,
22:58
I
22:58
did.
22:59
Nice.
23:00
And
23:01
they
23:01
said,
23:01
look,
23:01
they
23:01
are
23:02
excited
23:03
about
23:04
the
23:05
fulfillment
23:05
elements
23:06
that
23:07
instalap
23:08
have
23:08
developed.
23:09
So
23:09
order,
23:09
managing,
23:10
picking,
23:10
routing,
23:12
these
23:12
things
23:12
are
23:12
built.
23:12
So
23:13
we
23:13
explore
23:13
that
23:13
side.
23:14
So
23:14
that
23:14
is
23:16
two
23:16
elements
23:16
to
23:16
it.
23:17
I
23:18
think
23:18
the
23:18
right
23:18
term
23:18
is
23:18
an
23:19
Instacart
23:19
spokesperson
23:20
said,
23:22
and
23:22
I
23:23
think
23:23
the
23:23
quote
23:23
is,
23:23
over
23:24
time,
23:24
we
23:24
expect
23:24
to
23:25
consolidate
23:26
the
23:26
tech
23:26
stacks
23:27
into
23:27
a
23:28
single,
23:28
unified
23:29
platform
23:29
that
23:29
brings
23:30
together
23:30
the
23:30
best
23:30
of
23:30
both
23:31
products.
23:31
So
23:31
it
23:32
looks
23:32
like
23:32
you've
23:32
got
23:32
an
23:32
acquisition
23:34
that
23:34
gives
23:34
a
23:34
needed
23:35
shot
23:35
in
23:35
the
23:35
arm
23:36
for
23:36
international
23:36
expansion.
23:37
It's
23:38
aligned
23:38
with
23:39
a
23:39
profitable
23:39
kind
23:40
of
23:40
platform
23:40
strategy
23:41
play.
23:42
And
23:42
it
23:42
brings
23:43
in
23:43
tech
23:43
that
23:43
can
23:43
also
23:44
help
23:44
develop
23:44
the
23:44
core
23:44
offer.
23:46
So
23:46
we
23:46
found
23:47
paid
23:47
to
23:47
achieve
23:48
all
23:48
that.
23:48
That
23:48
feels
23:49
like
23:49
a
23:49
good
23:49
place
23:49
to
23:49
be,
23:49
right?
23:50
Yeah,
23:50
yeah,
23:50
yeah.
23:50
I
23:51
mean,
23:51
I
23:51
think,
23:51
I
23:52
think,
23:52
you
23:52
know,
23:53
I
23:53
think
23:53
I'm
23:53
gonna
23:54
agree
23:54
with
23:54
you,
23:54
Ben.
23:54
I
23:55
think
23:55
I'm
23:55
gonna
23:55
agree
23:55
with
23:55
you.
23:55
I
23:56
think
23:56
it's
23:56
reluctantly,
23:57
you
23:57
know,
23:58
you
23:58
know,
23:59
I
23:59
mean,
23:59
it's
23:59
a
23:59
card
23:59
knows
24:00
this
24:00
too.
24:00
Like,
24:00
I
24:00
have
24:00
a.
24:00
I
24:00
have
24:00
a.
24:01
I
24:01
love
24:01
Haberly.
24:01
I
24:02
love
24:02
them.
24:02
I
24:02
like
24:03
talking
24:03
to
24:03
them.
24:03
I
24:03
always
24:04
enjoy
24:04
whenever
24:04
I
24:05
get
24:05
the
24:05
chance
24:05
to
24:05
interview
24:05
them.
24:06
But,
24:06
you
24:06
know,
24:06
some.
24:07
Some
24:07
of
24:07
the
24:07
things
24:07
I've
24:07
had
24:08
questions
24:08
about,
24:08
you
24:08
know,
24:09
over
24:09
the
24:09
years
24:09
and
24:09
so.
24:10
But
24:11
I
24:11
think
24:11
this
24:11
is
24:11
a
24:11
smart
24:12
move.
24:12
I
24:12
think
24:12
it
24:12
is,
24:12
I
24:12
think
24:13
for
24:13
the
24:13
reasons
24:13
you
24:13
said.
24:13
I
24:14
mean,
24:14
one,
24:14
it's
24:14
growth
24:15
via
24:15
acquisition,
24:15
which
24:16
I
24:16
think
24:16
is
24:16
important
24:16
in
24:16
and
24:16
of
24:17
itself.
24:17
Because,
24:17
as
24:17
you
24:18
know,
24:18
I
24:18
mentioned
24:18
in
24:18
the
24:18
headline
24:19
read
24:19
too,
24:19
it's
24:19
been
24:19
tough
24:20
for
24:20
Instacart
24:20
to
24:20
crack
24:20
this
24:21
market.
24:21
Then
24:22
it
24:22
sounds
24:22
like,
24:22
as
24:22
you're
24:22
discussing,
24:23
there's
24:23
probably
24:23
some
24:24
IP
24:24
that
24:24
they're
24:24
grabbing
24:25
here
24:25
in
24:26
terms
24:26
of
24:26
how
24:26
the
24:26
tech
24:26
works.
24:27
And
24:27
there's
24:27
also
24:27
just
24:28
the
24:28
IP
24:28
of
24:29
the
24:29
relationships
24:30
themselves,
24:30
which
24:30
I
24:30
don't
24:31
think.
24:31
Which
24:31
is
24:31
a
24:31
great
24:31
point,
24:31
because
24:32
I
24:32
don't
24:32
think
24:32
you
24:32
can
24:32
discount
24:33
that
24:33
at
24:34
all.
24:34
And
24:34
then
24:34
the
24:34
other
24:35
point
24:35
too,
24:35
which
24:35
I
24:35
was
24:35
actually
24:36
surprised
24:36
you
24:36
mentioned
24:36
it,
24:37
but
24:37
you
24:37
only
24:37
mentioned
24:37
it
24:37
briefly,
24:38
was,
24:38
was
24:38
retail
24:39
media.
24:39
That's
24:39
what
24:39
scales.
24:41
So
24:41
as
24:41
you
24:41
conglomerate
24:42
all
24:42
these
24:42
platforms
24:43
together,
24:43
from
24:43
a
24:43
software
24:44
standpoint,
24:45
the
24:45
retail
24:45
media
24:46
is
24:46
the
24:46
engine
24:46
that
24:47
drives
24:47
the
24:47
profitability
24:48
of
24:48
Instacart
24:49
in
24:49
the
24:49
long
24:49
run.
24:50
So
24:50
you're
24:50
going
24:50
to
24:50
get
24:51
more
24:51
scale
24:51
in
24:51
that
24:52
because
24:52
the
24:52
brands
24:52
now
24:53
can
24:53
position
24:53
their
24:53
retail
24:54
media
24:54
across
24:55
more
24:55
options
24:56
globally
24:56
too,
24:57
which
24:57
I
24:57
think
24:57
has
24:58
to
24:58
be
24:58
a
24:59
part
24:59
of
24:59
this.
24:59
Right,
24:59
Ben?
25:00
I
25:00
mean,
25:00
you
25:00
know
25:00
that
25:00
better
25:00
than
25:01
I
25:01
do.
25:01
Yeah,
25:01
I
25:02
completely
25:02
agree.
25:03
The
25:03
potential
25:03
to
25:03
scale,
25:04
particularly
25:04
carrot
25:05
ads,
25:06
that
25:07
media
25:07
play
25:07
is
25:07
huge.
25:08
And
25:08
I
25:08
think
25:08
I
25:08
would
25:08
just.
25:09
Look,
25:09
just
25:09
one
25:10
more
25:10
point
25:11
to
25:11
help
25:12
you
25:12
with
25:12
that
25:12
final.
25:13
Okay.
25:13
Make
25:14
the
25:14
final
25:14
decision.
25:15
You
25:15
mentioned
25:16
Ryan
25:16
Hamburger,
25:17
Chief
25:17
Commercial
25:17
Officer,
25:18
in
25:18
the
25:19
intro.
25:19
He's
25:20
actually
25:20
one
25:20
of
25:20
our
25:20
speakers.
25:21
Oh,
25:21
yeah.
25:21
At
25:21
Shop
25:21
Talk
25:22
Europe.
25:22
So
25:23
he'll
25:23
be
25:23
on
25:23
stage
25:23
on
25:24
the
25:24
Wednesday.
25:24
Maybe
25:24
you
25:25
should
25:25
grab
25:25
him,
25:25
get
25:25
an
25:26
interview,
25:26
ask
25:26
him
25:27
a
25:27
question.
25:28
Everybody
25:28
can
25:28
come
25:29
and
25:29
hear
25:29
directly
25:29
from
25:30
Ryan
25:30
on
25:30
this.
25:31
Love
25:31
to
25:32
do
25:32
that.
25:32
Love
25:32
to
25:32
do
25:32
that.
25:32
Still
25:33
not
25:33
sold
25:33
on
25:33
the
25:33
cart.
25:34
Which
25:34
I
25:35
had
25:35
a
25:35
big,
25:35
long
25:36
conversation
25:36
on
25:36
the
25:36
cart
25:37
with
25:37
somebody
25:37
at
25:37
Zebra
25:38
yesterday,
25:38
but
25:39
yeah,
25:39
still
25:40
not
25:40
sold
25:40
on
25:40
the
25:40
cart.
25:40
But
25:40
that's
25:41
a.
25:41
I
25:41
don't
25:41
want
25:41
to
25:41
take
25:41
us
25:41
off
25:42
topic,
25:42
Ben.
25:42
That's
25:43
the
25:43
topic.
25:43
Let's
25:43
go
25:43
to
25:43
the
25:43
next
25:43
headline.
25:44
I'm
25:44
going
25:44
to
25:44
go
25:44
straight.
25:45
I'm
25:45
going
25:45
to
25:45
plow
25:45
straight
25:46
into
25:46
headline
25:46
number
25:47
four,
25:47
which
25:47
is
25:47
that
25:48
Walmart
25:48
has
25:48
announced
25:49
the
25:49
first
25:49
full
25:50
redesign
25:51
of
25:51
its
25:51
great
25:52
value
25:52
private
25:52
label
25:52
brand
25:53
for
25:53
more
25:53
than
25:53
a
25:53
decade,
25:54
with
25:55
plans
25:55
to
25:55
roll
25:56
out
25:56
new,
25:56
more
25:56
modern
25:57
and
25:57
colorful
25:57
packaging.
25:58
How
25:58
could
25:58
it
25:59
be
25:59
anything
25:59
but
25:59
across
26:00
nearly
26:00
10,
26:01
10,000.
26:02
10,000
26:03
grocery
26:04
and
26:04
household
26:05
items
26:05
over
26:06
the
26:06
next
26:06
18
26:07
to
26:07
24
26:08
months.
26:08
So
26:08
a
26:09
bit
26:09
more
26:09
detail.
26:09
According
26:10
to
26:10
a
26:10
Walmart
26:11
corporate
26:11
blog
26:12
post,
26:12
the
26:12
new
26:12
packaging
26:13
designs
26:13
were
26:14
unveiled
26:14
on
26:14
April
26:15
15,
26:15
will
26:16
begin
26:16
rolling
26:16
out
26:16
from
26:17
May,
26:17
starting
26:18
with
26:18
salty
26:18
snacks,
26:19
which
26:19
is
26:19
interesting
26:20
with
26:20
the
26:20
GLP1
26:20
conversation
26:21
before
26:21
expanding
26:22
category
26:22
by
26:23
category
26:23
into
26:23
more
26:24
than
26:24
100
26:24
product
26:24
categories.
26:25
The
26:26
new
26:26
packaging
26:27
is
26:27
specifically
26:27
designed
26:28
to
26:28
improve
26:28
what
26:28
Walmart
26:29
calls
26:29
shopability,
26:31
making
26:31
it
26:31
easier
26:31
for
26:32
customers
26:32
to
26:32
identify
26:32
products
26:33
in
26:33
store
26:33
and
26:34
on
26:34
the
26:34
aisles.
26:35
Customer
26:36
research
26:37
was
26:37
the
26:37
catalyst.
26:38
While
26:39
shoppers
26:39
ranked
26:40
Great
26:40
Value
26:40
highly
26:41
on
26:41
price
26:41
and
26:42
quality,
26:42
many
26:43
said
26:43
they
26:43
didn't
26:44
feel
26:44
particularly
26:44
proud
26:45
to
26:45
display
26:45
it
26:45
in
26:46
their
26:46
homes.
26:46
So,
26:47
Chris,
26:47
do
26:48
you
26:48
think
26:48
a
26:49
Great
26:49
Value
26:49
packaging
26:50
redesign
26:50
will
26:51
help
26:51
get
26:51
more
26:51
people
26:51
to
26:52
buy
26:52
more
26:52
Great
26:53
Value
26:53
products
26:53
from
26:54
Walmart?
26:54
Oh,
26:55
man,
26:56
that's,
26:58
that's
26:58
a
26:58
tough
26:59
one.
27:00
I
27:00
don't
27:01
actually
27:01
know
27:01
if
27:01
it'll
27:02
get
27:02
them
27:02
to
27:02
buy
27:02
more
27:02
products
27:03
because,
27:04
you
27:04
know,
27:05
but
27:05
I
27:05
think
27:05
at
27:05
the
27:05
end
27:05
of
27:05
the
27:05
day
27:06
I
27:06
like
27:07
this
27:07
move
27:07
because
27:07
I
27:07
don't
27:07
think
27:08
it's
27:08
gonna,
27:08
it's
27:08
not
27:08
gonna
27:09
make
27:09
them
27:09
buy
27:09
less
27:09
products.
27:10
I
27:11
don't
27:11
think,
27:11
you
27:11
know,
27:11
at
27:12
the
27:12
end
27:12
of
27:12
the
27:12
day
27:12
it's
27:12
not
27:12
gonna
27:12
hurt
27:13
anything.
27:13
I
27:13
mean,
27:14
the
27:14
article
27:14
said
27:14
nine
27:15
out
27:15
of
27:15
10
27:15
US
27:15
households
27:16
already
27:17
buy
27:17
it.
27:17
So
27:18
I
27:18
mean,
27:18
how
27:18
much
27:18
room
27:18
is
27:19
there
27:19
to
27:19
grow
27:19
when
27:19
nine
27:19
out
27:20
of
27:20
ten
27:20
are
27:20
already
27:20
buying?
27:20
I
27:20
guess
27:21
you
27:21
can
27:21
get
27:21
them
27:21
to
27:21
buy
27:21
it
27:21
more
27:21
often,
27:22
which
27:22
I
27:22
think
27:22
is
27:22
the
27:22
play
27:23
here.
27:23
And
27:23
I
27:23
alluded
27:23
to
27:23
it
27:23
before
27:24
because
27:25
you're
27:25
going
27:25
after
27:25
the
27:26
upper
27:26
demo.
27:26
If
27:27
you
27:27
read
27:27
between
27:27
the
27:28
lines
27:28
of
27:28
this,
27:28
we're
27:29
not
27:29
proud
27:29
to
27:29
show
27:29
it
27:30
in
27:30
our
27:30
pantries,
27:31
which
27:31
means
27:31
we're
27:32
not
27:32
proud
27:32
to
27:32
highlight
27:33
it
27:33
to
27:33
when
27:33
we
27:33
have
27:34
guests
27:34
in
27:34
the
27:34
house.
27:34
You're
27:35
right.
27:35
And
27:35
so
27:35
that's
27:36
the
27:36
upper
27:36
demographic
27:37
that
27:37
they're
27:37
trying
27:37
to
27:37
get
27:37
after
27:38
and
27:38
they're
27:38
going
27:38
after
27:39
it,
27:39
you
27:39
know,
27:39
because
27:39
of
27:40
the
27:40
success
27:40
they've
27:40
had
27:41
with
27:41
Walmart.
27:41
Plus
27:42
they
27:42
want
27:42
people
27:42
to
27:42
feel
27:43
more
27:43
pride
27:44
in
27:44
having
27:44
it
27:44
in
27:44
their
27:45
house.
27:45
And
27:46
so
27:46
it's
27:46
not
27:46
going
27:46
to
27:46
hurt
27:47
anything
27:47
if
27:47
it
27:48
doesn't
27:48
move
27:48
the
27:48
needle,
27:49
which
27:49
it
27:49
very
27:49
well
27:49
could.
27:50
It,
27:50
you
27:51
know,
27:51
helps
27:51
them
27:51
to,
27:52
helps
27:52
people
27:52
to
27:52
save
27:53
money,
27:53
helps
27:53
Walmart
27:54
make
27:54
more
27:54
money
27:54
and
27:55
then
27:55
look
27:55
out
27:55
because
27:55
that's
27:55
more
27:56
margin
27:56
for
27:56
Walmart
27:57
and
27:57
also
27:58
more
27:58
media
27:59
dollars
27:59
from
27:59
the
27:59
CBGs
28:00
who
28:00
are
28:00
not
28:00
going
28:00
to
28:00
want
28:01
to
28:01
let
28:01
that
28:01
happen.
28:01
Yeah,
28:02
you're
28:02
not
28:02
going
28:02
to
28:02
want
28:03
to
28:03
see
28:03
the
28:03
territory
28:04
to
28:04
Great
28:04
Value
28:04
so
28:05
that
28:05
the
28:05
flywheel
28:06
just
28:06
keeps
28:06
on
28:06
churning.
28:06
So.
28:07
So
28:07
I
28:07
think
28:07
it's
28:07
a
28:08
really
28:08
smart
28:08
move
28:09
from
28:09
a
28:09
profitability
28:10
perspective
28:11
whether
28:11
they
28:11
sell
28:11
more
28:12
Great
28:12
Value
28:12
product.
28:13
I
28:14
Think
28:14
actually
28:14
as
28:14
I'm
28:15
talking
28:15
this
28:15
out
28:15
loud,
28:16
Ben.
28:16
I
28:16
think
28:16
possibly.
28:17
Yeah,
28:17
I
28:18
think
28:18
to
28:18
the
28:18
upper
28:18
income
28:19
demos
28:19
for
28:19
sure.
28:19
Yeah,
28:20
I
28:20
agree.
28:20
I
28:21
mean,
28:21
look,
28:22
firstly,
28:22
I
28:22
love.
28:22
We're
28:23
talking
28:23
about
28:23
private
28:23
label.
28:24
Yeah.
28:25
Big
28:25
things.
28:25
I
28:25
don't
28:25
talk
28:26
about
28:26
private
28:26
label
28:26
very
28:27
often.
28:27
Yeah,
28:27
we
28:28
must
28:28
keep
28:28
talking
28:29
about
28:29
it
28:29
as
28:29
an
28:29
industry
28:29
more.
28:29
But
28:30
let's
28:30
look,
28:31
let's
28:31
talk
28:31
about
28:31
Walmart
28:32
first.
28:32
Because
28:32
look,
28:33
because
28:33
it's
28:33
Walmart,
28:34
because
28:34
the
28:35
scale,
28:35
because
28:35
it's
28:36
10,000
28:36
products,
28:37
because
28:37
it's
28:37
their
28:37
core
28:38
great
28:38
value
28:38
item,
28:39
then
28:39
it's
28:39
a
28:40
story.
28:41
But
28:42
it's
28:42
really
28:42
not
28:43
a
28:43
story
28:43
in
28:44
some
28:44
ways.
28:44
I
28:45
mean,
28:45
look,
28:45
30
28:46
years
28:46
ago
28:46
I
28:47
sat
28:47
my
28:48
desk
28:48
in,
28:48
the
28:48
marketing
28:49
team
28:49
of
28:49
the
28:49
grocery
28:49
retailer
28:50
was
28:50
next
28:50
to
28:51
the
28:51
packaging
28:51
design
28:51
team.
28:52
They
28:52
were
28:52
on
28:52
a
28:53
constant
28:53
cycle
28:54
of
28:54
redeveloping
28:55
packaging
28:55
for
28:56
the
28:56
private
28:56
labels.
28:57
It's
28:57
not
28:57
news,
28:58
it's
28:58
just
28:58
how
28:58
you
28:59
run
28:59
a
28:59
private
28:59
label
28:59
business,
29:00
Right?
29:00
Yeah.
29:01
So
29:01
scale
29:02
makes
29:02
it
29:02
notable,
29:03
Walmart
29:03
makes
29:03
it
29:03
notable,
29:04
but
29:05
it's
29:05
just
29:06
how
29:06
you
29:06
should
29:06
be
29:06
doing.
29:08
Having
29:08
said
29:08
that,
29:09
to
29:10
do
29:10
it
29:10
now
29:11
is
29:11
a
29:12
huge
29:12
signal
29:14
and
29:14
for
29:14
that
29:14
to
29:15
read
29:15
the
29:15
signal,
29:16
you
29:16
got
29:16
to
29:16
look
29:16
at
29:16
what
29:16
the
29:16
CPGs
29:17
did.
29:18
So
29:18
we
29:19
had
29:19
inflation
29:19
out
29:20
of
29:20
COVID
29:21
CPGs.
29:23
CPGs
29:24
took
29:24
the
29:24
price
29:24
increase,
29:25
the
29:25
branded
29:25
CPGs
29:26
took
29:26
the
29:27
price
29:27
and
29:27
they've
29:27
grown
29:27
through
29:28
price.
29:28
So
29:28
if
29:29
you
29:29
sit
29:29
here
29:29
now
29:29
and
29:30
you
29:30
read
29:30
the
29:31
financial
29:32
results
29:32
of
29:33
any
29:33
of
29:33
the
29:33
big
29:33
branded
29:34
CPGs,
29:34
there's
29:35
growth
29:35
coming
29:35
from
29:35
two
29:35
places.
29:37
One,
29:38
value,
29:38
that
29:39
is
29:39
price,
29:39
it's
29:40
not
29:40
volume.
29:40
Two,
29:41
digital.
29:42
Come
29:43
back
29:43
to
29:43
the
29:43
conversation
29:43
we
29:43
were
29:43
having
29:43
earlier
29:44
in
29:44
the
29:44
Instacart
29:45
Bunsen.
29:45
That's
29:45
where
29:45
the
29:46
growth
29:46
is
29:47
now.
29:48
In
29:48
the
29:49
last
29:49
six
29:49
months
29:50
we'd
29:50
hit
29:50
a
29:50
point
29:51
where
29:51
CPGs,
29:52
it
29:52
felt
29:53
like
29:53
the
29:53
conversation
29:53
that
29:53
they'd
29:54
realized
29:54
that,
29:54
that
29:54
they
29:55
realized
29:55
price
29:55
had
29:55
been
29:56
touched
29:56
too
29:56
far
29:57
and
29:57
the
29:57
differential
29:58
to
29:58
private
29:59
label
29:59
had
29:59
opened
29:59
up
30:00
too
30:00
much.
30:01
And
30:01
that
30:01
was
30:01
happening
30:02
just
30:02
at
30:02
a
30:02
time
30:02
that
30:03
the
30:03
inflationary
30:03
pressures
30:04
thankfully
30:05
had
30:05
eased
30:05
off.
30:07
Okay.
30:08
The
30:08
world's
30:09
changed
30:09
in
30:09
the
30:09
last
30:10
month.
30:10
We're
30:11
suddenly
30:11
in
30:11
an
30:11
environment
30:12
where
30:12
inflationary
30:12
pressures
30:13
are
30:13
coming
30:13
in.
30:14
This
30:14
is
30:14
a
30:14
critical
30:15
time.
30:16
Walmart
30:16
is
30:16
saying,
30:17
okay,
30:17
we're
30:17
going
30:17
big
30:18
on
30:18
our
30:18
private
30:18
label.
30:19
The
30:19
industry
30:20
cannot
30:21
risk
30:22
pushing
30:22
price
30:23
too
30:23
much,
30:23
otherwise
30:24
that
30:24
differential
30:25
is
30:25
going
30:25
to
30:25
increase
30:25
even
30:26
further.
30:26
And
30:27
you're
30:27
seeing
30:27
the
30:27
investment
30:28
that's
30:28
going
30:28
in.
30:29
So
30:29
that
30:29
for
30:30
me
30:30
is
30:30
the
30:30
biggest,
30:31
big
30:31
story.
30:32
It's
30:32
watching
30:33
how
30:33
that
30:33
goes.
30:34
Now,
30:35
having
30:36
said
30:36
that,
30:37
I
30:37
also
30:38
have,
30:38
I
30:38
also
30:39
slightly
30:39
don't
30:39
agree
30:40
with
30:40
you.
30:40
Okay.
30:41
Yeah,
30:41
yeah.
30:42
How
30:43
dare
30:43
you.
30:44
Okay,
30:45
great,
30:45
great.
30:46
Nine
30:47
out
30:47
of
30:47
ten
30:47
households,
30:48
right?
30:48
Yeah.
30:49
But
30:49
it
30:49
doesn't
30:49
Tell
30:49
you
30:50
how
30:50
many
30:50
items.
30:50
No,
30:50
it
30:50
doesn't.
30:51
It
30:51
doesn't
30:51
tell
30:51
you
30:51
what
30:51
frequency.
30:52
It
30:52
doesn't
30:52
tell
30:52
you
30:52
how
30:52
many
30:53
categories
30:53
they're
30:53
buying
30:53
into.
30:54
Nobody's
30:54
gonna
30:54
do
30:55
a
30:55
packaging
30:55
redesign
30:55
because
30:56
they
30:56
think
30:56
they're
30:56
gonna
30:56
sell
30:56
less.
30:57
Right?
30:57
Yeah.
30:57
So
30:58
this
30:58
is
30:58
about
30:58
modernization,
30:59
it's
30:59
about
30:59
pushing.
31:00
There's
31:00
categories
31:01
where
31:01
it's
31:01
fascinating.
31:02
They're
31:02
starting
31:02
with
31:03
salty
31:04
snacks
31:04
and
31:04
crisps,
31:05
a
31:05
category
31:06
being
31:06
hit
31:06
by
31:06
the
31:06
GLP1
31:07
impact.
31:08
I
31:08
hope
31:08
that
31:08
they
31:08
recognize
31:09
why
31:09
it's
31:09
been
31:09
hit
31:09
rather
31:10
than
31:10
just
31:10
saying
31:10
he's
31:11
an
31:11
over
31:11
performer,
31:11
let's
31:11
put
31:11
the
31:11
investment
31:12
there.
31:12
But
31:12
they're
31:13
smart
31:13
people,
31:13
so
31:13
I'm
31:13
sure
31:14
they
31:14
do.
31:15
If
31:15
they
31:15
get
31:15
this
31:15
right,
31:16
it
31:16
will
31:16
help
31:17
them
31:17
grow
31:17
penetration,
31:18
growth,
31:18
frequency.
31:19
And
31:19
that's
31:20
a
31:20
real
31:20
watch.
31:20
And
31:20
it's
31:20
a
31:21
real
31:21
watch
31:21
out
31:21
for
31:22
other
31:23
grocers.
31:25
Because
31:25
one
31:25
of
31:25
the
31:25
things
31:25
that
31:25
sometimes
31:26
gets
31:26
lost
31:26
in
31:27
the
31:27
conversation
31:27
about
31:27
private
31:28
label
31:29
is
31:29
it's
31:29
not
31:30
just
31:30
switching
31:30
from
31:30
branded
31:31
to
31:31
private
31:31
label.
31:32
It's
31:32
switching
31:33
store
31:33
locations
31:34
to
31:34
retailers
31:35
that
31:35
have
31:35
a
31:35
higher
31:36
private
31:36
label
31:36
mix,
31:37
like
31:37
a
31:38
limited
31:38
line
31:38
discounter,
31:39
like
31:39
a
31:39
warehouse
31:40
club.
31:40
So
31:41
if
31:41
you're
31:41
sat
31:42
in
31:42
a
31:42
major
31:42
mall
31:42
or
31:43
even
31:43
a
31:43
regional
31:43
grocery
31:43
and
31:44
you're
31:44
thinking
31:44
about
31:44
what
31:45
do
31:45
I
31:45
know?
31:45
How
31:45
do
31:45
I
31:45
respond
31:46
to
31:46
this?
31:46
It's
31:47
so
31:47
important
31:47
to
31:47
get
31:47
that
31:47
private
31:48
label
31:48
range
31:48
back.
31:49
Right?
31:49
Yeah.
31:49
Wow.
31:50
Okay.
31:50
So
31:50
there's
31:50
a
31:50
lot
31:50
of
31:50
points
31:51
I
31:51
heard
31:51
you
31:51
say
31:51
there
31:51
that
31:51
I
31:52
think
31:52
are
31:52
important.
31:52
Just
31:52
to
31:53
reiterate.
31:54
So,
31:54
like
31:55
one
31:55
is
31:55
the
31:56
continued
31:56
digital
31:57
growth
31:57
of
31:57
grocery
31:58
and
31:58
showing
31:58
up
31:59
better
31:59
there.
31:59
Huge.
32:00
One
32:00
is
32:00
the
32:00
inflation
32:01
impact
32:02
1.
32:03
And
32:03
then
32:03
the
32:03
other
32:03
thing
32:03
is
32:04
the
32:04
point
32:04
that
32:05
I
32:05
think
32:05
you
32:05
and
32:05
I
32:05
both
32:06
ended
32:06
up
32:06
making
32:06
it.
32:07
I
32:07
came
32:07
around
32:07
to
32:07
it
32:08
at
32:08
the
32:08
end
32:08
too.
32:08
You
32:09
did.
32:09
Thank
32:10
you,
32:10
thank
32:10
you,
32:10
thank
32:10
you
32:11
for
32:11
that.
32:12
But
32:12
it's
32:12
right
32:12
to
32:12
disagree
32:13
with
32:13
me
32:13
based
32:13
on
32:14
how
32:14
I
32:14
said
32:14
it,
32:14
but
32:14
like
32:16
that
32:16
there
32:16
are
32:16
more
32:16
people
32:17
that
32:17
could
32:17
be
32:17
buying
32:17
more
32:18
great
32:18
value
32:18
products.
32:19
My
32:19
only
32:19
question
32:20
for
32:20
you,
32:20
Ben,
32:20
is
32:20
when
32:21
they
32:21
said
32:21
that
32:21
they
32:21
haven't
32:21
done
32:22
this
32:22
in
32:22
10
32:22
years,
32:23
you
32:23
know,
32:24
were
32:24
they
32:24
kind
32:24
of
32:25
derelict
32:25
in
32:25
not
32:26
doing
32:26
it
32:26
sooner?
32:27
Yeah,
32:28
that
32:28
surprised
32:28
me.
32:29
It
32:29
surprised
32:29
me
32:29
too.
32:31
I
32:31
think
32:31
part
32:31
of
32:31
it
32:32
is
32:32
just
32:32
the
32:32
sheer
32:33
scale
32:33
of
32:34
the
32:34
range.
32:34
Right?
32:35
Yeah.
32:35
This
32:35
is
32:35
the
32:36
core
32:36
range.
32:37
It's
32:37
a
32:37
big
32:37
undertaking.
32:38
So
32:38
big,
32:38
big,
32:39
big
32:39
undertaking.
32:40
And
32:40
what
32:40
stood
32:41
out
32:41
to
32:41
me
32:41
was,
32:42
and
32:43
I
32:43
think
32:43
I'd
32:44
love
32:44
the
32:44
next
32:44
time
32:44
one
32:45
of
32:45
us
32:45
is
32:45
talking
32:45
to
32:45
a
32:45
merchant
32:46
at
32:46
Walmart
32:46
to
32:47
understand
32:48
like
32:48
we're
32:49
talking
32:49
a
32:49
12
32:49
to
32:49
48,
32:50
a
32:50
12
32:51
to
32:51
24
32:51
month
32:52
rollout
32:53
for
32:53
this.
32:54
I'd
32:54
love
32:54
to
32:54
know
32:55
how
32:55
you
32:55
can
32:55
make
32:55
that
32:56
quicker.
32:56
You
32:56
know,
32:57
it
32:57
feels
32:57
like
32:58
with
32:58
the
32:58
technological
32:58
advances
32:59
with
33:00
AI
33:01
that
33:01
seems
33:01
an
33:01
awful
33:02
long
33:02
time
33:03
to
33:03
roll
33:03
this
33:04
out.
33:04
Okay,
33:04
10,000
33:05
is
33:05
a
33:05
huge
33:06
change,
33:06
but
33:06
it'd
33:06
be
33:07
interesting
33:07
to
33:07
know,
33:08
is
33:08
Walmart
33:08
doing
33:09
anything
33:09
different
33:09
in
33:09
the
33:10
process
33:10
to
33:10
be
33:10
able
33:11
to
33:11
improve
33:11
this?
33:11
Yeah.
33:12
Well,
33:12
and
33:12
then
33:12
there's
33:12
also
33:12
the
33:13
correlating
33:13
things
33:13
that
33:14
are
33:14
changing
33:14
in
33:14
terms
33:14
of
33:15
packaging
33:15
design
33:16
and
33:16
requirements
33:17
in
33:17
the
33:17
industry
33:17
as
33:17
well,
33:18
and
33:18
how
33:18
they're
33:18
syncing
33:19
all
33:19
those
33:19
up.
33:19
So
33:19
this
33:19
is
33:20
not
33:20
an
33:20
easy
33:20
undertaking
33:21
by
33:21
any
33:21
means,
33:22
in
33:22
any
33:22
way,
33:22
shape
33:23
or
33:23
form.
33:23
Agreed.
33:23
All
33:24
right,
33:24
headline
33:24
number
33:24
five.
33:25
Aldi
33:25
South
33:25
Group
33:26
is
33:26
using
33:26
its
33:26
US
33:27
Stores
33:27
as
33:27
the
33:27
testing
33:28
ground
33:28
for
33:28
a
33:28
new
33:29
globally
33:29
unified
33:30
store
33:30
format
33:31
developed
33:32
over
33:32
14
33:32
years
33:32
in
33:32
partnership
33:33
with
33:33
Australian
33:34
design
33:34
firm
33:34
Landini
33:35
Associates.
33:36
With
33:36
trials
33:37
already
33:37
underway
33:38
in
33:38
Aventura,
33:39
Florida,
33:39
and
33:40
further
33:40
US
33:40
rollout
33:41
planned
33:41
through
33:41
2026.
33:42
Landini
33:43
Associates.
33:44
Ben?
33:44
Yes,
33:44
for
33:45
those
33:45
wondering,
33:45
I'm
33:45
sad
33:46
to
33:46
say
33:46
has
33:46
no
33:46
affiliation
33:47
with
33:47
the
33:47
fictional
33:48
law
33:48
firm
33:48
Bandini,
33:49
Lambert
33:49
and
33:50
Locke
33:50
from
33:50
the
33:50
wonderful
33:51
Tom
33:51
Cruise
33:51
film
33:52
the
33:52
Firm.
33:53
Thank
33:53
you
33:53
very
33:53
much.
33:53
Anyway,
33:54
according
33:55
to
33:55
Chainsaw
33:55
Age,
33:56
the
33:56
new
33:56
design
33:56
is
33:56
built
33:57
on
33:57
a
33:57
modular
33:57
adaptable
33:58
framework,
33:59
meaning
33:59
it
33:59
can
33:59
be
33:59
scaled
34:00
and
34:00
reconfigured
34:00
across
34:01
different
34:01
store
34:02
sizes
34:02
and
34:02
and
34:02
building
34:02
types.
34:03
The
34:03
format
34:04
is
34:04
designed
34:04
to
34:04
create
34:05
breeder
34:06
greater.
34:06
Greater
34:07
some
34:08
would
34:08
say,
34:08
some
34:08
who
34:08
could
34:08
speak
34:09
English
34:09
would
34:09
say
34:09
greater
34:10
brand
34:10
consistency
34:11
across
34:11
all
34:12
five
34:12
of
34:12
Aldi
34:13
South's
34:13
global
34:14
territories.
34:14
The
34:15
news
34:15
also
34:15
comes.
34:16
This
34:16
is
34:16
important
34:17
as
34:17
Aldi
34:18
is
34:18
in
34:18
the
34:18
middle
34:18
of
34:18
an
34:18
enormous
34:19
2026
34:20
expansion
34:20
push.
34:21
The
34:21
company
34:21
plans
34:22
to
34:22
open
34:22
more
34:22
than
34:22
180
34:23
new
34:23
stores
34:24
this
34:24
year,
34:24
convert
34:25
close
34:25
to
34:25
80
34:25
former
34:26
Southeastern
34:26
groceries
34:27
locations
34:28
to
34:28
the
34:28
Aldi
34:29
format,
34:30
and
34:30
reach
34:30
nearly
34:30
2800
34:31
total
34:32
US
34:32
stores
34:33
by
34:33
year
34:33
end.
34:34
On
34:34
its
34:34
way
34:35
on
34:35
its
34:35
way
34:36
to
34:36
a
34:36
target
34:36
of
34:37
3200
34:38
in
34:38
just
34:39
two
34:39
years.
34:39
By
34:39
2028.
34:41
Oh,
34:41
man.
34:42
In
34:42
2025
34:42
alone,
34:43
17
34:43
million
34:44
new
34:44
customers
34:45
visited
34:45
Aldi
34:46
for
34:46
the
34:46
very
34:46
first
34:47
time.
34:47
17
34:48
million.
34:49
Ben,
34:51
first
34:51
question.
34:51
I've
34:51
got
34:51
two
34:52
questions
34:52
for
34:52
you
34:52
to
34:52
close
34:53
us
34:53
out.
34:53
Go
34:53
for
34:53
it.
34:54
Do
34:54
you
34:54
think
34:54
Aldi
34:54
gets
34:55
enough
34:55
credit
34:55
in
34:55
the
34:55
US
34:55
for
34:56
being
34:56
the
34:56
grocer
34:56
that
34:56
it
34:57
is?
34:57
And
34:57
second,
34:58
how
34:58
scared
34:58
should
34:59
US
34:59
Grocers
34:59
get,
35:00
and
35:00
even
35:00
global
35:00
grocers,
35:01
for
35:01
that
35:01
matter,
35:01
be
35:02
with
35:02
this
35:02
news?
35:03
Wow.
35:03
That's.
35:04
Okay.
35:04
Wow.
35:05
Okay,
35:05
big
35:05
question.
35:08
Aldi
35:09
is
35:09
a
35:10
phenomenal
35:10
business
35:11
and
35:12
the
35:12
Aldi
35:12
subdivision
35:13
is
35:14
the
35:14
most
35:15
exciting,
35:15
the
35:15
most
35:16
dynamic
35:17
divisions.
35:18
It
35:18
is
35:19
years
35:19
ahead
35:20
of
35:20
the
35:20
Aldi
35:20
Nord
35:21
business.
35:23
Low
35:23
price,
35:24
strong
35:24
quality,
35:26
amazingly
35:27
cash
35:27
generative
35:28
as
35:28
a
35:29
business
35:29
model.
35:30
Very
35:30
long
35:30
term
35:30
in
35:30
its
35:31
strategic
35:31
thinking.
35:32
So
35:32
I
35:33
guess
35:33
it's
35:33
a
35:33
very
35:33
long
35:34
way
35:34
of
35:34
saying
35:34
if
35:35
people
35:35
don't
35:35
recognize
35:36
this
35:36
and
35:36
haven't
35:36
given
35:37
them
35:37
credit
35:37
by
35:37
now,
35:38
they're
35:39
in
35:39
for
35:39
an
35:39
increasingly
35:39
rude
35:40
awakening.
35:40
Right?
35:40
Yeah.
35:42
So
35:42
let
35:42
me
35:42
give
35:42
you
35:42
an
35:42
example
35:43
here
35:43
in
35:43
the
35:43
UK
35:44
in
35:45
London,
35:45
Aldi
35:46
opened
35:46
its
35:46
very
35:47
first
35:47
store
35:47
in
35:48
April
35:48
1990.
35:50
Okay.
35:50
So
35:50
not
35:50
that
35:51
long
35:51
ago,
35:51
he
35:51
says,
35:52
sounding
35:52
old,
35:54
it's
35:54
now
35:54
grown
35:55
to
35:55
be
35:56
one
35:56
in
35:56
one
35:57
of
35:57
the
35:57
most
35:57
competitive
35:58
grocery
35:58
markets
35:59
in
35:59
the
35:59
world.
36:00
It's
36:00
got
36:01
over
36:01
10%
36:01
market
36:02
share,
36:03
it's
36:03
got
36:03
over
36:03
a
36:04
thousand
36:04
stores
36:05
and
36:05
it's
36:05
on
36:05
track
36:07
at
36:07
the
36:07
moment
36:08
to
36:08
probably
36:09
take
36:09
over
36:09
the
36:09
number
36:09
three
36:10
position.
36:11
So
36:11
it
36:11
looks
36:12
like
36:12
it's
36:12
in
36:14
the
36:14
short
36:14
term,
36:14
in
36:15
the
36:15
medium
36:15
term,
36:15
it's
36:16
going
36:16
to
36:16
displace
36:17
asda.
36:17
So
36:17
ASDA
36:17
for
36:18
those
36:18
who
36:18
remember
36:18
was
36:18
Walmart
36:19
subsidiary
36:20
here
36:20
in
36:20
the
36:20
UK
36:20
and
36:21
it's
36:21
going
36:21
to
36:21
replace
36:21
that
36:21
as
36:21
the
36:22
number
36:22
three.
36:23
Look,
36:23
the
36:24
US
36:24
store
36:24
growth
36:25
is
36:25
equally,
36:26
equally
36:26
striking.
36:27
So
36:28
underestimate
36:29
at
36:29
your
36:29
peril.
36:30
Super
36:30
strong
36:30
business.
36:32
This
36:32
particular
36:33
story
36:33
look
36:34
really
36:34
interesting.
36:34
A
36:35
couple
36:35
of
36:35
things,
36:36
Landini,
36:37
look,
36:37
they
36:37
are
36:37
a
36:37
globally
36:38
renowned
36:38
design
36:39
organization.
36:40
They're
36:40
innovative.
36:42
They've
36:42
worked
36:42
for
36:42
ALI
36:43
for
36:43
a
36:43
long
36:43
time.
36:43
They've
36:43
had
36:43
a
36:44
really
36:44
long
36:44
association
36:45
with
36:46
McDonald's.
36:46
So
36:47
like
36:47
all
36:47
the
36:47
concept
36:48
McDonald's
36:48
stores
36:48
around
36:49
the
36:49
world
36:49
are
36:49
stores
36:50
that
36:50
they've
36:50
created.
36:51
Interesting.
36:51
If
36:51
anybody's
36:52
been,
36:52
if
36:52
any
36:52
of
36:53
the
36:53
listeners
36:53
have
36:53
been
36:53
to
36:53
the
36:54
McDonald's
36:54
in
36:54
Sydney
36:55
Airport,
36:55
which
36:55
is
36:56
incredible.
36:56
It's
36:56
a
36:56
multi
36:57
story.
36:58
It's
36:58
got
36:59
this
36:59
incredible
37:00
machine
37:01
that
37:01
takes
37:02
food
37:02
cooked
37:02
from
37:02
downstairs
37:03
to
37:03
downstairs.
37:03
It's
37:04
like
37:04
an
37:04
elevator.
37:05
It's
37:05
beautiful.
37:06
They
37:06
designed
37:07
it.
37:08
They
37:08
designed
37:08
it.
37:09
So
37:10
they
37:10
get
37:10
formats
37:10
and
37:11
modularity
37:11
then
37:11
that's
37:12
what
37:12
you're
37:12
telling
37:12
me.
37:12
Yeah,
37:13
and
37:14
I
37:14
think
37:14
that,
37:15
and
37:15
I
37:16
know
37:16
when
37:16
we
37:16
were
37:16
chatting
37:16
about
37:16
this
37:17
earlier,
37:17
so
37:17
I'm
37:17
not
37:17
going
37:17
to
37:18
steal
37:18
your
37:18
thunder,
37:19
the
37:19
modularity
37:20
element
37:20
of
37:20
this,
37:21
that's
37:22
the
37:22
big,
37:22
that's,
37:22
that's
37:23
the,
37:23
that's
37:23
the
37:23
bit
37:23
to
37:23
listen
37:24
out
37:24
for.
37:24
But
37:25
I'm
37:25
going
37:25
to
37:25
let
37:25
you
37:25
cover
37:26
that.
37:26
We'll
37:26
talk
37:27
about
37:27
that
37:27
more.
37:27
Well,
37:28
I
37:28
think
37:28
I
37:28
100%
37:29
agree
37:29
with
37:29
everything
37:29
you
37:29
said.
37:30
The
37:30
point
37:30
that
37:30
you
37:30
unlock
37:30
for
37:31
me
37:31
in
37:31
a
37:31
more
37:31
palpable
37:32
way
37:32
than
37:32
I
37:32
thought
37:33
about
37:33
before
37:33
I
37:33
came
37:33
into
37:34
this
37:34
podcast,
37:34
which
37:35
is
37:35
why
37:35
I
37:35
love
37:35
doing
37:35
this
37:35
podcast,
37:36
is
37:37
when
37:37
you
37:37
told
37:38
me
37:38
they
37:38
have
37:38
a
37:38
thousand
37:38
stores
37:39
in
37:39
the
37:39
UK
37:41
and
37:41
they're
37:41
still
37:41
only
37:41
targeting
37:42
like
37:42
3200
37:43
in
37:43
the
37:44
States.
37:44
It
37:45
still
37:45
seems
37:45
like
37:45
there's
37:46
room
37:46
to
37:46
grow.
37:46
Oh
37:47
yeah,
37:47
even
37:47
you
37:47
agree.
37:48
Even
37:48
more
37:48
so.
37:48
Yeah.
37:49
And
37:49
that's
37:49
why
37:49
modularity
37:50
is
37:50
going
37:50
to
37:50
be
37:50
so
37:50
important
37:51
because
37:51
it's
37:51
100%
37:52
aligned
37:52
strategically
37:53
to
37:53
where
37:53
the
37:53
growth
37:54
has
37:54
to
37:54
come
37:54
from,
37:54
and
37:54
that
37:55
is
37:55
through
37:55
the
37:55
acquisition
37:56
of
37:57
existing
37:57
grocers
37:58
regionally
37:59
whose
37:59
footprints
38:00
aren't
38:00
of
38:01
the
38:01
prototype
38:01
design
38:01
of
38:02
a
38:02
typical
38:02
Aldi
38:03
box.
38:03
You
38:03
got
38:03
it.
38:03
And
38:04
I
38:04
know
38:04
that's
38:04
true.
38:04
And
38:05
here's
38:05
how
38:05
I
38:05
know
38:05
that's
38:06
true.
38:06
The
38:06
part
38:07
I'll
38:07
bring
38:07
to
38:07
the
38:07
table
38:07
here
38:08
is
38:08
I
38:09
had
38:09
the
38:09
chance
38:09
to
38:09
interview
38:09
all
38:10
these
38:10
VP
38:10
of
38:10
Real
38:11
Estate
38:11
Dan
38:12
Gavin
38:12
at
38:12
a
38:12
conference
38:13
a
38:13
couple
38:13
years
38:13
ago
38:14
and
38:14
he
38:14
basically
38:15
told
38:15
us
38:15
that
38:15
was
38:15
the
38:15
fact
38:16
like
38:16
that
38:16
was
38:16
the
38:17
problem
38:17
with
38:17
all
38:17
these
38:18
acquisitions
38:18
that
38:19
they
38:19
made,
38:19
is
38:19
that
38:20
they
38:20
had
38:20
to
38:20
think
38:20
about
38:21
this
38:21
because
38:21
the
38:22
box
38:22
wasn't
38:22
going
38:22
to
38:23
work
38:23
the
38:23
way
38:23
it
38:23
was.
38:23
And
38:23
so
38:24
if
38:24
there
38:24
is
38:24
that
38:24
room
38:25
to
38:25
grow,
38:25
which
38:25
it's
38:26
got
38:26
to,
38:26
there's
38:26
got
38:26
to
38:27
be,
38:28
you
38:28
know,
38:28
this
38:28
is
38:29
the
38:29
way
38:29
to
38:29
do
38:29
it.
38:29
Now,
38:30
the
38:30
big
38:30
question,
38:30
though,
38:31
like
38:31
you
38:32
said
38:32
with
38:32
Instagram,
38:32
we
38:32
don't
38:32
know
38:33
how
38:33
much
38:33
they
38:33
paid,
38:33
we
38:34
don't
38:34
know
38:34
if
38:34
it
38:34
works,
38:35
you
38:35
know,
38:35
we
38:36
don't
38:36
know
38:36
that
38:36
this
38:36
new
38:36
format
38:37
is
38:37
working,
38:37
you
38:38
know,
38:38
or
38:38
that
38:38
it's
38:38
going
38:39
to
38:39
continue
38:39
to
38:39
work.
38:39
You
38:40
got
38:40
to
38:40
think
38:40
that
38:40
there's
38:41
a
38:41
high
38:41
probability
38:41
that
38:42
it's
38:42
going
38:42
to,
38:42
given
38:42
all
38:43
these
38:43
track
38:43
record.
38:43
Yeah,
38:44
I
38:44
think
38:44
you
38:44
would
38:45
too.
38:45
It's
38:45
been,
38:46
it's
38:46
based
38:47
on
38:47
the
38:47
Aldi
38:48
Sud
38:48
concept
38:48
stores
38:49
in
38:49
Australia,
38:49
which
38:50
are
38:50
really
38:50
good
38:51
stores.
38:53
I
38:53
think
38:53
the
38:54
Aldi
38:55
have
38:55
traditionally
38:55
a
38:55
cookie
38:56
cutter
38:56
approach
38:57
and
38:57
that's,
38:57
that's
38:57
what
38:58
drives
38:58
the
38:58
synergies.
38:58
So
38:59
this
38:59
modular
38:59
idea
39:00
that
39:00
is
39:00
we
39:00
can
39:01
put
39:01
the
39:01
Aldi
39:01
footprint
39:02
into
39:02
more
39:02
varied
39:03
real
39:03
estate,
39:03
is
39:04
fascinating.
39:05
And
39:05
the
39:05
final
39:05
thing,
39:06
look,
39:07
it's
39:07
got
39:07
me
39:07
thinking
39:08
about
39:08
this.
39:10
There
39:10
has
39:11
been
39:11
rumor
39:11
and
39:12
speculation
39:13
for
39:13
months
39:14
now
39:15
that
39:15
Aldi
39:16
Sud
39:16
and
39:16
Aldi
39:17
Nord
39:17
might
39:18
finally
39:18
come
39:19
together.
39:19
Oh,
39:19
wow.
39:20
So
39:20
look,
39:21
very,
39:21
very
39:21
quick,
39:23
for
39:23
people
39:23
who
39:23
are
39:23
not
39:23
familiar
39:24
to
39:24
the
39:24
story,
39:24
Aldi
39:25
was
39:25
created
39:25
by
39:25
the
39:25
Aldbrecht
39:26
brothers.
39:26
The
39:27
elder
39:27
brothers
39:27
fell
39:28
out.
39:28
One
39:28
brother
39:29
took
39:29
the
39:29
north,
39:29
one
39:29
brother
39:29
took
39:30
the
39:30
south.
39:30
So
39:31
mostly
39:31
non
39:32
overlapping
39:33
territories.
39:33
Right.
39:35
This
39:35
is
39:36
a
39:36
business
39:36
that
39:36
if
39:36
you
39:36
put
39:36
the
39:37
two
39:37
bits
39:37
together,
39:38
the
39:38
buying
39:39
scale
39:40
alone,
39:41
so
39:41
the
39:41
fact
39:41
that
39:41
they're
39:41
building
39:42
this
39:42
in
39:42
a
39:43
modular
39:43
basis,
39:43
it
39:43
could
39:44
be
39:44
about
39:44
small
39:44
acquisitions,
39:45
but
39:45
it
39:46
could
39:46
also
39:46
be
39:46
about
39:46
how
39:46
do
39:47
we
39:47
take
39:47
the
39:47
best
39:47
performing
39:48
concept
39:48
in
39:49
the
39:49
whole
39:49
group
39:50
and
39:50
help
39:50
put
39:51
it
39:51
into
39:51
more
39:51
stores.
39:52
Set
39:52
that
39:52
up
39:52
for
39:52
success
39:53
too,
39:53
right?
39:54
Yeah.
39:55
If
39:55
I
39:55
had
39:55
a
39:55
pound
39:56
for
39:56
every
39:56
time
39:56
Aldi
39:57
Nord
39:57
and
39:57
Aldi
39:57
Sud
39:57
were
39:57
going
39:58
to
39:58
come
39:58
together
39:58
as
39:58
being
39:58
rumored.
39:59
Yeah.
39:59
I
40:00
wouldn't
40:00
need
40:00
to
40:00
be
40:00
doing
40:00
this
40:00
with
40:01
you
40:01
today,
40:01
sir,
40:02
despite
40:02
how
40:02
great
40:02
it
40:02
is.
40:04
But
40:05
genuinely,
40:06
I
40:06
think
40:06
there's
40:07
been
40:07
more
40:07
talk
40:07
now
40:08
than
40:08
there
40:08
has
40:08
Been
40:08
for
40:09
quite
40:09
some
40:09
time
40:09
on
40:09
that.
40:09
Yeah.
40:10
But
40:10
the
40:10
interesting
40:10
thing
40:11
about
40:11
this,
40:11
though,
40:11
if
40:11
you
40:11
step
40:12
back
40:12
from
40:12
it,
40:12
is
40:12
modularity
40:13
does
40:13
not
40:13
generally
40:14
go
40:14
hand
40:14
in
40:14
hand
40:14
with
40:15
scale.
40:16
You
40:16
know,
40:17
so
40:17
there
40:17
is
40:17
something
40:18
that
40:19
you
40:19
are
40:19
trying
40:19
to
40:19
inherently
40:20
crack
40:20
the
40:20
code
40:21
on.
40:21
If
40:22
you're
40:22
going
40:22
to
40:22
use
40:22
this
40:22
in
40:22
the
40:23
way
40:23
that
40:23
you're.
40:23
That
40:23
we're
40:24
hypothesizing.
40:24
That
40:25
we're
40:25
hypothesizing.
40:26
Absolutely.
40:26
All
40:26
right,
40:27
let's
40:27
go
40:27
to
40:27
the
40:27
lightning
40:27
round.
40:27
Ben,
40:29
A
40:29
tattoo
40:29
artist
40:30
inked
40:30
a
40:30
portrait
40:30
of
40:30
Danny
40:31
DeVito
40:32
on
40:32
his.
40:33
Or
40:33
her.
40:33
It
40:33
doesn't
40:34
say.
40:34
On
40:34
a
40:34
client's
40:35
big
40:35
toe.
40:35
Danny
40:36
DeVito
40:36
on
40:36
your
40:37
big
40:37
toe.
40:37
Ben.
40:37
Ben,
40:38
do
40:38
you
40:38
have
40:38
any
40:38
tattoos?
40:39
And
40:39
if
40:40
not,
40:40
and
40:40
you
40:40
were
40:41
ever
40:41
to
40:41
get
40:41
one,
40:42
what
40:42
would
40:42
you
40:42
get?
40:43
I
40:43
have
40:43
literally
40:44
no
40:44
idea
40:44
how
40:45
we've
40:45
gone
40:45
from
40:45
Aldi's
40:46
corporate
40:46
structure
40:46
to
40:47
Danny
40:47
DeVito.
40:47
Tatis.
40:48
No,
40:48
Chris,
40:48
I
40:49
did
40:49
not.
40:49
You
40:49
did
40:49
not.
40:50
I
40:50
did
40:50
think
40:50
you
40:50
did,
40:50
which
40:51
is
40:51
why
40:51
I
40:51
asked
40:51
you
40:51
the
40:52
second
40:52
part.
40:52
And
40:53
I
40:53
think
40:53
my
40:53
window
40:54
for
40:54
Tatisse,
40:55
who's
40:55
looking
40:55
good,
40:55
is
40:55
probably
40:56
closed.
40:56
Yeah,
40:57
right,
40:57
right,
40:57
right.
40:57
Yeah.
40:58
The
40:58
saggy
40:58
arms
40:59
and
40:59
everything.
40:59
Right.
41:00
Thank
41:00
you.
41:01
Right,
41:02
moving
41:03
on.
41:03
Chris,
41:04
earlier
41:04
this
41:04
week,
41:04
it
41:05
was
41:05
announced
41:05
that
41:05
after
41:06
15
41:06
years
41:07
in
41:07
Roel
41:08
and
41:08
having
41:08
added
41:08
a
41:09
cool
41:09
3
41:10
1/2
41:10
trillion
41:11
dollars.
41:11
That's
41:12
trillion
41:12
with
41:13
a
41:13
T.
41:14
To
41:14
its
41:14
market
41:14
capitalization,
41:16
Tim
41:16
Cook
41:16
is
41:17
going
41:17
to
41:17
step
41:17
down
41:17
as
41:17
Apple
41:18
CEO.
41:18
Chris,
41:19
what
41:19
is
41:19
the
41:19
one
41:20
Apple
41:20
product
41:21
you
41:21
could
41:21
not
41:21
live
41:21
without?
41:22
It's
41:22
gotta
41:22
be
41:23
my
41:23
phone,
41:23
right?
41:23
It's
41:24
gotta
41:24
be
41:24
your
41:24
phone,
41:24
too,
41:25
right?
41:25
It's
41:25
gotta
41:25
be
41:25
the
41:25
iPhone.
41:26
Yeah.
41:26
Although
41:26
I
41:26
couldn't
41:27
even
41:27
go
41:27
off
41:27
a
41:27
MacBook
41:28
now,
41:28
either.
41:28
I
41:28
don't
41:28
think,
41:29
you
41:29
know,
41:29
if
41:29
I
41:29
had
41:29
to.
41:30
And
41:30
I
41:31
couldn't
41:31
probably
41:32
surrender
41:32
my
41:32
AirPods
41:33
either.
41:34
Yeah.
41:34
Oh,
41:34
really?
41:35
See,
41:35
I'm
41:35
not
41:35
a
41:35
big.
41:35
I'm
41:36
not
41:36
a
41:36
big
41:36
AirPod
41:36
guy.
41:37
I
41:37
love
41:37
my
41:37
AirPods.
41:37
Yeah.
41:37
Really?
41:38
Okay.
41:38
All
41:38
right,
41:38
all
41:38
right,
41:39
all
41:39
right,
41:39
next
41:39
one.
41:40
Eddie
41:40
Murphy
41:41
received
41:41
a
41:41
lifetime
41:42
achievement
41:42
award
41:43
by
41:43
the
41:43
American
41:43
Film
41:44
Institute
41:44
last
41:44
week.
41:44
Ben.
41:45
Ben,
41:45
what
41:45
is
41:45
your
41:46
Mount
41:46
Rushmore
41:46
of
41:47
Eddie
41:47
Murphy
41:47
movies?
41:47
And
41:48
if
41:48
you
41:48
don't
41:48
know
41:48
what
41:48
Mount
41:48
Rushmore
41:49
is,
41:49
Ben,
41:49
it's
41:50
the
41:50
big
41:50
statue
41:50
of
41:50
four
41:51
presidents
41:51
in
41:51
South
41:51
Dakota.
41:52
So
41:52
four
41:52
favorite
41:53
Eddie
41:53
Murphy
41:54
movies.
41:54
Yes.
41:54
Thank
41:54
you
41:55
very
41:55
much,
41:55
Chris.
41:55
I
41:55
do
41:56
know
41:56
what
41:56
Matt
41:56
Murshima
41:56
is
41:57
one.
41:57
It's
41:58
got
41:58
to
41:58
be.
41:58
I'm
41:58
going
41:58
to
41:58
go
41:58
right
41:59
back.
41:59
Beverly
41:59
Hills
42:00
Cop.
42:00
Yes.
42:01
But
42:01
the
42:01
original.
42:02
Got
42:02
to
42:02
be
42:02
the
42:02
original.
42:03
Okay.
42:03
Eddie
42:03
Murphy,
42:04
Axel
42:04
as
42:04
Axel
42:05
Foley.
42:06
Brilliant.
42:07
Okay,
42:07
just.
42:07
That's
42:08
just
42:08
one.
42:08
Yeah,
42:09
that's
42:09
just
42:09
one.
42:09
Just
42:09
give
42:09
me
42:10
one.
42:10
All
42:10
right,
42:11
well,
42:11
look,
42:11
when
42:11
you've
42:12
got
42:12
something
42:12
that
42:12
high,
42:13
you
42:13
don't
42:13
need
42:13
to
42:13
go
42:13
out
42:14
anywhere.
42:14
Okay.
42:14
All
42:14
right.
42:14
It's
42:15
just
42:15
one
42:15
marble.
42:17
Eddie
42:17
Murphy.
42:18
Axel
42:18
fully
42:18
stands
42:19
above
42:19
everyone.
42:19
Single
42:20
person.
42:20
I
42:20
don't
42:20
even
42:20
know
42:20
if
42:20
it's
42:21
marble.
42:21
I
42:21
don't
42:21
know
42:21
what
42:21
Mount
42:22
Rushmore.
42:22
It's
42:22
granite,
42:22
I
42:23
think.
42:23
But
42:23
anyway.
42:23
All
42:24
right.
42:24
All
42:24
right.
42:24
Gone.
42:25
Chris.
42:26
So
42:27
I
42:27
understand
42:27
the
42:27
next
42:28
stop
42:28
in
42:28
the
42:28
Walton
42:29
world
42:29
Tour
42:29
is.
42:29
Is
42:30
Berlin.
42:30
Yes,
42:31
it
42:31
is.
42:31
World
42:32
tour.
42:32
That's
42:32
great.
42:33
Yes.
42:33
What
42:33
is
42:33
your
42:34
favorite
42:34
German
42:34
food?
42:35
Oh,
42:35
man.
42:35
Oh,
42:36
my
42:36
God.
42:37
I
42:37
like
42:38
a
42:38
good
42:38
schnitzel.
42:39
Nice.
42:39
I
42:39
do.
42:39
I
42:40
do
42:40
a
42:40
good
42:40
schnitzel.
42:41
Yeah.
42:41
I'm
42:41
actually
42:41
looking
42:42
forward
42:42
to
42:42
getting
42:42
some
42:42
schnitzel.
42:43
And
42:43
does
42:43
beer
42:44
count
42:44
as
42:44
a
42:44
food?
42:44
Because
42:44
I
42:44
like
42:45
the
42:45
beer
42:45
gardens
42:45
over
42:45
there.
42:45
The
42:46
big
42:46
ones
42:46
are
42:46
very
42:46
good.
42:47
Yeah,
42:47
yeah,
42:47
yeah.
42:47
Food
42:47
and
42:48
drink,
42:48
I
42:48
guess.
42:48
Very
42:49
good.
42:49
All
42:49
right.
42:50
All
42:50
right.
42:50
Today's
42:51
podcast
42:51
was
42:51
produced
42:51
with
42:52
the
42:52
help
42:52
and
42:52
support,
42:52
of
42:53
course,
42:53
of
42:53
our
42:53
great
42:53
producer,
42:54
Ella
42:54
Seward.
42:54
Ella
42:55
couldn't
42:55
be
42:55
with
42:55
us
42:55
today
42:56
because
42:56
we're
42:56
on
42:56
location.
42:57
She's
42:57
in
42:57
a
42:58
completely
42:58
different
42:58
time
42:59
zone.
42:59
But,
43:00
you
43:00
know,
43:00
we
43:00
couldn't
43:01
do
43:01
this
43:01
without
43:01
her,
43:01
and
43:01
we
43:02
want
43:02
to
43:02
thank
43:02
her
43:02
for
43:02
her
43:02
help
43:03
in
43:03
producing
43:03
this
43:04
podcast
43:05
at
43:05
the
43:05
end
43:06
of
43:06
the
43:06
day
43:06
and
43:06
in
43:06
time
43:06
for
43:07
you
43:07
all
43:07
to
43:07
enjoy.
43:08
Happy
43:08
birthday
43:08
today
43:08
to
43:09
Amber
43:09
Heard
43:09
Jack
43:09
Nicholson,
43:10
and
43:10
to
43:10
Lance
43:11
Gabriel,
43:11
guess
43:11
his
43:11
love
43:12
interest
43:12
in
43:13
the
43:13
last
43:13
starfighter,
43:14
the
43:14
great
43:14
Catherine
43:15
Mary
43:15
Stewart.
43:17
Ben.
43:17
And
43:17
remember,
43:18
if
43:18
you
43:18
can
43:18
only
43:18
read
43:18
or
43:18
listen
43:19
to
43:19
one
43:19
retail
43:19
blog
43:20
in
43:20
the
43:20
business,
43:20
make
43:20
it
43:21
Omnitalk.
43:21
Our
43:21
Fast
43:22
five
43:22
podcast
43:22
is
43:22
the
43:22
quickest,
43:23
fastest
43:23
rundown
43:24
of
43:24
all
43:24
the
43:24
week's
43:24
top
43:25
news.
43:25
And
43:25
our
43:25
daily
43:25
newsletter,
43:26
the
43:26
Retail
43:26
Daily
43:27
Minute,
43:27
tells
43:27
you
43:27
all
43:27
you
43:27
need
43:28
to
43:28
know
43:28
each
43:28
day
43:28
to
43:29
stay
43:29
on
43:29
top
43:29
of
43:29
your
43:30
game
43:30
as
43:30
a
43:30
retail
43:30
executive
43:31
and
43:31
also
43:31
regularly
43:32
feature
43:32
special
43:33
content
43:33
that
43:33
is
43:34
exclusive
43:34
to
43:34
us
43:34
and
43:34
that
43:35
we
43:35
all
43:35
take
43:35
a
43:35
ton
43:36
of
43:36
pride
43:36
in
43:36
doing
43:36
just
43:37
for
43:37
you.
43:37
Thanks
43:38
as
43:38
always
43:38
for
43:38
listening
43:38
in.
43:38
Please
43:39
remember
43:39
to
43:39
like
43:39
and
43:39
leave
43:40
us
43:40
a
43:40
review.
43:40
Wherever
43:40
you
43:41
happen
43:41
to
43:41
listen
43:41
to
43:41
your
43:41
podcast
43:42
or
43:42
on
43:42
YouTube,
43:43
you
43:43
can
43:43
follow
43:43
us
43:43
today
43:43
by
43:44
simply
43:44
going
43:44
to
43:44
YouTube.com
43:46
omnitalkretail
43:47
Ben,
43:48
before
43:48
we
43:48
let
43:48
you
43:48
go,
43:49
if
43:49
people
43:50
want
43:50
to
43:50
join
43:50
you
43:50
in
43:50
Barcelona
43:51
for
43:51
Shop
43:51
Talk
43:52
Europe
43:52
in
43:52
June,
43:53
what's
43:53
the
43:53
best
43:54
way
43:54
for
43:54
them
43:54
to
43:54
do
43:55
that?
43:55
Great.
43:56
So
43:56
europe.shoptalk.com
43:58
takes
43:59
you
43:59
directly
43:59
to
44:00
our
44:00
European
44:00
webpage
44:01
or
44:01
just
44:02
hit
44:02
shoptalk.com
44:03
and
44:04
select
44:04
Shoptalk
44:04
Europe.
44:06
It's
44:06
nice.
44:06
We've
44:07
got
44:07
seven
44:08
weeks
44:08
till
44:08
show,
44:08
so
44:09
all
44:09
of
44:09
the
44:09
ticket
44:09
types
44:10
are
44:10
currently
44:10
open.
44:11
And
44:11
for
44:12
retailers
44:12
and
44:12
brands,
44:12
the
44:13
application
44:13
process
44:13
for
44:14
our
44:14
hosted
44:14
program,
44:15
which
44:15
is
44:16
the
44:16
free
44:16
tickets
44:17
and
44:17
support
44:17
with
44:18
travel
44:18
expenses
44:19
that
44:19
closes
44:19
in
44:20
the
44:20
middle
44:20
to
44:21
end
44:21
of
44:21
May,
44:21
so
44:21
you've
44:22
absolutely
44:22
got
44:22
time
44:23
to
44:23
do
44:23
that.
44:23
But
44:23
it's
44:23
better
44:24
to
44:24
get
44:24
your
44:24
application
44:24
in
44:25
sooner
44:25
rather
44:25
than
44:26
later.
44:26
And
44:26
just.
44:26
Okay,
44:27
one
44:27
final.
44:28
This
44:28
is
44:28
like
44:29
a
44:29
little.
44:30
If
44:30
you
44:30
stuck
44:30
around
44:31
to
44:31
the
44:31
end,.
44:31
If
44:31
you
44:31
got
44:31
here,
44:32
it's
44:32
still
44:32
inside
44:33
Baseball.
44:34
If
44:34
you're
44:34
coming
44:34
to
44:34
Barcelona,
44:35
and
44:35
I
44:35
hope
44:35
you
44:36
join
44:36
us,
44:36
we're
44:36
in
44:36
the
44:37
same
44:37
venue.
44:37
Okay.
44:38
Yep.
44:38
So
44:38
the
44:39
Fira
44:39
Grand
44:39
Via.
44:40
Beautiful
44:40
venue.
44:41
Beautiful
44:41
Barcelona.
44:42
We're
44:43
in
44:43
a
44:43
different
44:43
bit.
44:44
We've
44:44
grown.
44:45
So
44:45
we're
44:45
in
44:45
a
44:45
different
44:45
bit
44:46
of
44:46
the
44:46
building.
44:46
Okay.
44:47
Which
44:47
means
44:47
a
44:47
different
44:48
entrance.
44:48
Okay.
44:49
Yeah.
44:49
So
44:50
in
44:50
your
44:50
joining
44:50
instructions,
44:51
it
44:51
will
44:51
tell
44:51
you
44:51
how
44:51
to
44:51
get
44:52
to
44:52
the
44:52
entrance.
44:52
Don't
44:53
go
44:53
to
44:53
where
44:53
you
44:53
usually
44:54
do
44:54
on
44:54
autopilot.
44:55
Oh,
44:55
no.
44:55
Or
44:55
you'll
44:56
have
44:56
the
44:56
big
44:56
sign
44:57
saying,
44:57
please
44:57
go
44:57
around
44:58
the
44:58
corner.
44:58
Oh,
44:59
no.
44:59
Oh,
44:59
no.
45:00
Oh,
45:00
no.
45:00
I
45:00
was
45:01
at
45:01
the
45:01
hotel
45:01
directly
45:02
across
45:02
from
45:02
that
45:02
entrance,
45:03
Ben.
45:03
Oh,
45:03
no.
45:03
But,
45:04
hey,
45:04
hey,
45:04
I'll
45:05
adjust.
45:05
Because
45:05
that's
45:05
what
45:06
we
45:06
do
45:06
here
45:06
at
45:06
Omniton.
45:07
We
45:07
adjust.
45:07
We
45:08
work
45:08
on
45:08
the
45:08
fly
45:09
and
45:09
we
45:09
improv,
45:09
and
45:10
we
45:10
have
45:10
fun
45:10
doing
45:11
this
45:11
show
45:11
every
45:11
week.
45:11
Thanks
45:12
for
45:12
joining
45:12
me,
45:12
Ben.
45:13
Absolute
45:13
pleasure.
45:14
Always
45:14
a
45:14
pleasure.
45:14
Always
45:15
a
45:15
pleasure
45:15
having
45:15
you.
45:15
Can't
45:15
wait
45:16
to
45:16
have
45:16
you
45:16
back.
45:16
And
45:17
until
45:17
next
45:17
week,
45:17
on
45:18
behalf
45:18
of
45:18
all
45:18
of
45:18
us
45:18
at
45:18
Omnitok,
45:19
on
45:19
behalf
45:19
of
45:19
Ben,
45:20
the
45:20
Shop
45:21
Talk
45:21
team,
45:21
everyone,
45:22
producer
45:22
Ella,
45:23
as
45:24
always,
45:24
be
45:24
careful
45:25
out
45:25
there.