Latest / Omni Talk Retail / 🛒 The Future of Grocery: Topco’s Insights on Private Label & Shopper Trends | FMI 2025

Transcript

🛒 The Future of Grocery: Topco’s Insights on Private Label & Shopper Trends | FMI 2025 · Omni Talk Retail

• 0:00
  Hello
• 0:00
  everyone.
• 0:01
  This
• 0:01
  is
• 0:01
  Omnitalk
• 0:01
  Retail.
• 0:02
  I'm
• 0:02
  Chris
• 0:02
  Walton.
• 0:02
  And
• 0:02
  I'm
• 0:02
  Anne
• 0:03
  Mazinga.
• 0:03
  And
• 0:03
  we
• 0:03
  are
• 0:04
  coming
• 0:04
  to
• 0:04
  you
• 0:04
  once
• 0:04
  again
• 0:04
  from
• 0:05
  the
• 0:05
  simbi
• 0:05
  booth
• 0:06
  at
• 0:06
  FMI
• 0:07
  in
• 0:07
  Marco
• 0:07
  Island,
• 0:08
  Florida,
• 0:09
  booth
• 0:09
  number
• 0:09
  108.
• 0:10
  And
• 0:10
  standing
• 0:11
  between
• 0:11
  us
• 0:11
  is
• 0:11
  Katie
• 0:12
  Welts.
• 0:12
  Katie
• 0:13
  is
• 0:13
  the
• 0:13
  vice
• 0:13
  president
• 0:14
  of
• 0:14
  category
• 0:14
  management
• 0:15
  and
• 0:15
  market
• 0:15
  insights
• 0:16
  at
• 0:16
  Topco.
• 0:17
  Katie,
• 0:17
  welcome
• 0:18
  to
• 0:18
  omnitalk.
• 0:19
  Thanks,
• 0:19
  thanks
• 0:19
  for
• 0:19
  having
• 0:20
  us.
• 0:20
  Yeah,
• 0:20
  it's
• 0:20
  great
• 0:20
  to
• 0:20
  have
• 0:20
  you
• 0:21
  here
• 0:21
  at
• 0:21
  fmi.
• 0:21
  Yeah,
• 0:22
  thank
• 0:22
  you.
• 0:22
  And
• 0:23
  Katie,
• 0:23
  let's
• 0:23
  start
• 0:23
  out
• 0:24
  by
• 0:24
  giving
• 0:24
  our
• 0:24
  listeners
• 0:25
  a
• 0:25
  little
• 0:25
  bit
• 0:26
  of
• 0:26
  your
• 0:26
  background,
• 0:27
  your
• 0:27
  role,
• 0:28
  and
• 0:28
  for
• 0:28
  those
• 0:28
  who
• 0:28
  might
• 0:29
  not
• 0:29
  be
• 0:29
  familiar,
• 0:30
  what
• 0:30
  Topco
• 0:31
  is
• 0:33
  about.
• 0:33
  Topco.
• 0:34
  All
• 0:34
  right,
• 0:34
  well,
• 0:34
  why
• 0:34
  don't
• 0:35
  I
• 0:35
  start
• 0:35
  with
• 0:35
  Topco
• 0:35
  first
• 0:36
  because
• 0:36
  then
• 0:36
  my
• 0:36
  role
• 0:36
  will
• 0:37
  make
• 0:37
  a
• 0:37
  ton
• 0:37
  more
• 0:37
  sense.
• 0:38
  Perfect.
• 0:38
  So
• 0:39
  Topco
• 0:39
  is
• 0:39
  a
• 0:40
  cooperative
• 0:40
  made
• 0:40
  up
• 0:41
  of
• 0:41
  48
• 0:41
  members
• 0:42
  across
• 0:42
  the
• 0:43
  total
• 0:43
  US
• 0:44
  and
• 0:45
  really
• 0:45
  what
• 0:45
  we're
• 0:45
  here
• 0:45
  to
• 0:45
  do
• 0:46
  is
• 0:46
  help
• 0:46
  our
• 0:46
  members
• 0:47
  aggregate
• 0:47
  their
• 0:48
  purchases.
• 0:48
  So
• 0:49
  typically
• 0:49
  in
• 0:49
  center
• 0:50
  store,
• 0:50
  that
• 0:50
  means
• 0:50
  their
• 0:50
  own
• 0:51
  brand
• 0:51
  purchases,
• 0:52
  but
• 0:52
  that
• 0:52
  can
• 0:52
  be
• 0:53
  items
• 0:53
  not
• 0:53
  for
• 0:53
  resale,
• 0:54
  pharmacy,
• 0:54
  and
• 0:55
  even
• 0:55
  in
• 0:55
  fresh
• 0:56
  and
• 0:56
  branded
• 0:56
  meat.
• 0:57
  So
• 0:57
  we
• 0:57
  really
• 0:57
  cross
• 0:57
  the
• 0:58
  entire
• 0:58
  portfolio
• 0:59
  of
• 0:59
  what
• 0:59
  a
• 0:59
  retailer
• 1:00
  does.
• 1:00
  And
• 1:01
  we
• 1:01
  not
• 1:01
  only
• 1:01
  do
• 1:02
  that,
• 1:02
  but
• 1:02
  we
• 1:02
  also
• 1:02
  offer
• 1:03
  that
• 1:03
  for
• 1:03
  regional
• 1:04
  grocers
• 1:04
  and
• 1:04
  wholesalers
• 1:05
  that
• 1:05
  enables
• 1:06
  them
• 1:06
  to
• 1:06
  compete
• 1:07
  on
• 1:07
  the
• 1:07
  size
• 1:07
  and
• 1:07
  scale
• 1:08
  of
• 1:08
  some
• 1:08
  of
• 1:08
  the
• 1:08
  larger
• 1:09
  national
• 1:09
  chains.
• 1:09
  Amazing.
• 1:10
  My
• 1:10
  role
• 1:11
  at
• 1:11
  Taco
• 1:12
  is
• 1:12
  I
• 1:12
  am
• 1:12
  the
• 1:12
  vice
• 1:12
  president
• 1:13
  of
• 1:13
  center
• 1:13
  store
• 1:14
  category
• 1:14
  management
• 1:15
  and
• 1:15
  also
• 1:15
  insights.
• 1:16
  And
• 1:16
  so
• 1:16
  for
• 1:16
  center
• 1:16
  store
• 1:17
  category
• 1:17
  management,
• 1:18
  it's
• 1:18
  basically
• 1:18
  anything
• 1:19
  with
• 1:19
  a
• 1:19
  UPC
• 1:19
  code
• 1:20
  that's
• 1:20
  not
• 1:20
  meat.
• 1:21
  Okay.
• 1:22
  And
• 1:22
  really
• 1:23
  what
• 1:23
  we're
• 1:23
  here
• 1:23
  to
• 1:23
  do
• 1:23
  is
• 1:23
  help
• 1:24
  our
• 1:24
  members
• 1:24
  sell
• 1:24
  more
• 1:24
  of
• 1:24
  what
• 1:24
  they've
• 1:25
  got,
• 1:25
  more
• 1:25
  of
• 1:25
  what
• 1:26
  we've
• 1:26
  got,
• 1:26
  and
• 1:26
  innovate.
• 1:27
  And
• 1:27
  then
• 1:27
  we
• 1:27
  measure
• 1:27
  that.
• 1:28
  So
• 1:29
  explain
• 1:29
  that
• 1:29
  because
• 1:29
  like,
• 1:30
  so
• 1:30
  all
• 1:30
  of
• 1:31
  our
• 1:31
  loyal
• 1:31
  fans
• 1:31
  in
• 1:32
  like
• 1:32
  the
• 1:32
  apparel
• 1:32
  industry,
• 1:33
  they
• 1:33
  don't
• 1:33
  necessarily
• 1:34
  know
• 1:34
  what
• 1:34
  category
• 1:34
  management
• 1:35
  is
• 1:35
  and
• 1:35
  what
• 1:35
  it
• 1:36
  means
• 1:36
  on
• 1:36
  a
• 1:36
  day
• 1:36
  to
• 1:36
  day
• 1:36
  basis.
• 1:37
  So
• 1:37
  double
• 1:37
  click
• 1:38
  into
• 1:38
  that
• 1:38
  for
• 1:38
  us
• 1:38
  and
• 1:38
  tell
• 1:39
  us,
• 1:39
  tell
• 1:39
  us
• 1:39
  what
• 1:40
  it
• 1:40
  is
• 1:40
  that
• 1:40
  you're
• 1:40
  doing
• 1:40
  on
• 1:40
  a
• 1:40
  daily
• 1:41
  basis.
• 1:41
  Like
• 1:41
  what
• 1:41
  exactly
• 1:42
  it
• 1:42
  is
• 1:42
  that
• 1:42
  I
• 1:42
  do
• 1:43
  every
• 1:43
  day.
• 1:43
  No,
• 1:43
  absolutely.
• 1:44
  And
• 1:44
  the
• 1:44
  insights
• 1:44
  you're
• 1:44
  providing.
• 1:45
  Absolutely.
• 1:46
  So
• 1:46
  from
• 1:46
  a
• 1:47
  category
• 1:47
  management
• 1:48
  standpoint,
• 1:48
  it's
• 1:48
  really
• 1:49
  about
• 1:49
  understanding
• 1:49
  the
• 1:50
  shopper
• 1:50
  and
• 1:51
  what
• 1:51
  their
• 1:51
  needs
• 1:51
  are
• 1:51
  and
• 1:52
  then
• 1:52
  fulfilling
• 1:52
  those
• 1:52
  needs,
• 1:53
  be
• 1:53
  it
• 1:53
  with
• 1:53
  the
• 1:54
  right
• 1:54
  assortment.
• 1:54
  Right.
• 1:55
  So
• 1:55
  you're
• 1:55
  really
• 1:55
  sort
• 1:56
  of
• 1:56
  anchoring
• 1:56
  on
• 1:56
  the
• 1:56
  five
• 1:57
  or
• 1:57
  six
• 1:57
  Ps
• 1:57
  of
• 1:57
  marketing.
• 1:58
  So
• 1:58
  having
• 1:58
  the
• 1:58
  product
• 1:59
  on
• 1:59
  shelf,
• 2:00
  having
• 2:00
  it
• 2:00
  at
• 2:00
  the
• 2:01
  right
• 2:01
  price
• 2:01
  to
• 2:01
  demonstrate
• 2:02
  a
• 2:02
  value.
• 2:02
  And
• 2:02
  again
• 2:02
  for
• 2:03
  own
• 2:03
  brands,
• 2:03
  that
• 2:03
  has
• 2:04
  a
• 2:04
  very
• 2:04
  unique
• 2:04
  position
• 2:05
  because
• 2:05
  you've
• 2:05
  got
• 2:06
  to
• 2:06
  offer
• 2:06
  value
• 2:06
  to
• 2:06
  national
• 2:07
  brand
• 2:07
  but
• 2:07
  then
• 2:07
  also
• 2:08
  there's
• 2:08
  this
• 2:08
  whole
• 2:09
  migration
• 2:09
  to
• 2:10
  premium
• 2:10
  that
• 2:10
  we
• 2:10
  can
• 2:10
  talk
• 2:10
  about.
• 2:11
  Yes.
• 2:11
  And
• 2:12
  then
• 2:12
  it's
• 2:12
  promotions.
• 2:12
  Right.
• 2:13
  So
• 2:13
  what
• 2:13
  sort
• 2:13
  of
• 2:14
  promotional
• 2:14
  behavior
• 2:14
  do
• 2:15
  you
• 2:15
  need
• 2:15
  to
• 2:15
  see
• 2:15
  in
• 2:15
  order
• 2:16
  to
• 2:16
  enable
• 2:16
  shoppers
• 2:17
  to
• 2:17
  buy
• 2:18
  and
• 2:18
  then
• 2:18
  making
• 2:19
  sure
• 2:19
  that
• 2:19
  it's
• 2:19
  merchandised
• 2:20
  in
• 2:20
  the
• 2:20
  right
• 2:20
  way.
• 2:21
  Right.
• 2:21
  And
• 2:21
  then
• 2:21
  that
• 2:21
  measurement
• 2:22
  is
• 2:23
  how
• 2:23
  do
• 2:23
  all
• 2:23
  of
• 2:23
  those
• 2:23
  things
• 2:24
  come
• 2:24
  together
• 2:24
  and
• 2:24
  work
• 2:25
  to
• 2:25
  enable
• 2:25
  sort
• 2:26
  of
• 2:26
  a
• 2:26
  strong
• 2:27
  and
• 2:27
  productive
• 2:28
  P
• 2:28
  and
• 2:28
  L
• 2:28
  ultimately
• 2:29
  for
• 2:29
  the
• 2:29
  members?
• 2:29
  Right,
• 2:30
  Right.
• 2:30
  Well,
• 2:31
  let's
• 2:32
  talk
• 2:32
  a
• 2:32
  little
• 2:32
  bit
• 2:32
  more
• 2:33
  about
• 2:33
  some
• 2:34
  maybe
• 2:34
  market
• 2:34
  trends
• 2:35
  or
• 2:35
  insights.
• 2:36
  You
• 2:36
  mentioned
• 2:36
  premium.
• 2:37
  Maybe
• 2:38
  tell
• 2:38
  us
• 2:38
  a
• 2:38
  little
• 2:38
  bit
• 2:38
  more
• 2:38
  about
• 2:39
  that.
• 2:39
  So
• 2:40
  again,
• 2:40
  from
• 2:40
  an
• 2:40
  own
• 2:40
  brand
• 2:41
  perspective,
• 2:41
  what
• 2:42
  we
• 2:42
  see
• 2:42
  is
• 2:42
  this
• 2:42
  really
• 2:43
  interesting
• 2:43
  bifurcation
• 2:44
  in
• 2:44
  the
• 2:44
  marketplace.
• 2:45
  Right.
• 2:45
  So
• 2:45
  inflation
• 2:46
  was
• 2:46
  at
• 2:46
  an
• 2:46
  all
• 2:47
  time
• 2:47
  high
• 2:47
  that
• 2:47
  is
• 2:48
  tempered
• 2:48
  out
• 2:48
  a
• 2:49
  little
• 2:49
  bit.
• 2:49
  But
• 2:50
  with
• 2:50
  that
• 2:50
  tempering,
• 2:51
  it's
• 2:51
  actually
• 2:52
  really
• 2:53
  shoppers
• 2:53
  have
• 2:53
  had
• 2:54
  to
• 2:54
  make
• 2:54
  some
• 2:54
  really
• 2:54
  tough
• 2:55
  decisions.
• 2:55
  And
• 2:55
  it's
• 2:56
  not
• 2:56
  just
• 2:56
  shoppers
• 2:57
  that
• 2:57
  have
• 2:57
  a
• 2:57
  limited
• 2:57
  income,
• 2:58
  it's
• 2:58
  even
• 2:58
  your
• 2:59
  higher
• 2:59
  income
• 2:59
  shopper.
• 3:00
  And
• 3:00
  what
• 3:00
  we
• 3:00
  see
• 3:01
  them
• 3:01
  doing
• 3:01
  is
• 3:01
  migrating
• 3:02
  to
• 3:02
  own
• 3:02
  brands.
• 3:03
  But
• 3:03
  they're
• 3:03
  not
• 3:03
  necessarily
• 3:04
  looking
• 3:04
  for
• 3:05
  the
• 3:05
  lowest
• 3:05
  price
• 3:05
  on
• 3:05
  shelf,
• 3:06
  they're
• 3:06
  looking
• 3:07
  for
• 3:07
  an
• 3:07
  experience
• 3:09
  in
• 3:09
  their
• 3:09
  basket.
• 3:10
  Right.
• 3:10
  So
• 3:10
  be
• 3:10
  it
• 3:11
  something
• 3:11
  I'm
• 3:11
  going
• 3:11
  to
• 3:11
  cook
• 3:11
  at
• 3:11
  home
• 3:12
  or
• 3:12
  how
• 3:12
  I'm
• 3:12
  going
• 3:12
  to
• 3:12
  treat
• 3:12
  my
• 3:13
  family
• 3:13
  or
• 3:13
  even
• 3:13
  gift
• 3:14
  giving,
• 3:14
  but
• 3:15
  I
• 3:15
  want
• 3:15
  to
• 3:15
  do
• 3:15
  that
• 3:15
  at
• 3:16
  a
• 3:16
  value,
• 3:16
  but
• 3:16
  very
• 3:17
  high
• 3:17
  quality.
• 3:17
  And
• 3:18
  that's
• 3:18
  really
• 3:18
  what
• 3:18
  we've
• 3:19
  started
• 3:19
  to
• 3:19
  see.
• 3:20
  The
• 3:20
  other
• 3:20
  half
• 3:20
  of
• 3:20
  that
• 3:21
  is
• 3:21
  the
• 3:21
  definition
• 3:21
  of
• 3:22
  value
• 3:22
  continues
• 3:23
  to
• 3:23
  evolve.
• 3:23
  So
• 3:23
  it's
• 3:23
  also
• 3:24
  about
• 3:24
  sort
• 3:24
  of
• 3:25
  these
• 3:25
  large
• 3:25
  packs,
• 3:26
  sizes
• 3:26
  and
• 3:26
  that
• 3:26
  club
• 3:27
  channel
• 3:27
  and
• 3:27
  being
• 3:27
  able
• 3:27
  to
• 3:28
  compete
• 3:28
  in
• 3:28
  that
• 3:28
  space
• 3:28
  as
• 3:29
  well.
• 3:29
  Okay,
• 3:29
  so
• 3:29
  folks
• 3:30
  are
• 3:30
  looking
• 3:30
  for
• 3:30
  value
• 3:31
  in
• 3:31
  very
• 3:31
  different
• 3:32
  ways,
• 3:32
  not
• 3:32
  the
• 3:33
  traditional
• 3:33
  definition
• 3:34
  of
• 3:34
  it.
• 3:34
  Right.
• 3:34
  So
• 3:35
  if
• 3:35
  I'm
• 3:35
  hearing
• 3:35
  you
• 3:35
  correctly,
• 3:36
  you're
• 3:36
  saying
• 3:37
  like
• 3:37
  this
• 3:37
  might
• 3:38
  take
• 3:38
  place
• 3:38
  in
• 3:39
  a
• 3:39
  different
• 3:39
  flavor
• 3:40
  profile
• 3:40
  that
• 3:41
  they
• 3:41
  are
• 3:41
  used
• 3:41
  to
• 3:41
  getting
• 3:42
  in
• 3:42
  maybe
• 3:42
  a
• 3:42
  more
• 3:42
  premium
• 3:43
  environment,
• 3:43
  but
• 3:43
  they
• 3:44
  want
• 3:44
  that
• 3:45
  for
• 3:45
  the
• 3:45
  own
• 3:46
  brand
• 3:46
  or
• 3:46
  with
• 3:46
  the
• 3:46
  own
• 3:46
  brand.
• 3:47
  Absolutely.
• 3:47
  And
• 3:48
  oftentimes
• 3:48
  what
• 3:48
  we
• 3:49
  find
• 3:49
  is
• 3:49
  if
• 3:49
  you
• 3:49
  are
• 3:50
  entering
• 3:50
  into
• 3:50
  a
• 3:50
  new
• 3:51
  sort
• 3:52
  of
• 3:52
  unknown
• 3:52
  or
• 3:52
  more
• 3:53
  sort
• 3:53
  of
• 3:53
  exotic
• 3:54
  food
• 3:55
  type.
• 3:56
  So
• 3:56
  I
• 3:56
  mean
• 3:56
  I'm
• 3:57
  thinking
• 3:57
  about
• 3:57
  mochis
• 3:58
  and
• 3:58
  things
• 3:58
  of
• 3:58
  that
• 3:58
  nature.
• 3:59
  People
• 4:00
  first
• 4:00
  will
• 4:01
  enter
• 4:01
  with
• 4:01
  a
• 4:01
  familiar
• 4:02
  flavor
• 4:02
  and
• 4:03
  then
• 4:03
  they'll
• 4:03
  become
• 4:03
  adventurous
• 4:04
  where
• 4:04
  if
• 4:04
  it's
• 4:04
  something
• 4:05
  familiar
• 4:05
  like
• 4:06
  coffee
• 4:06
  or
• 4:06
  tea,
• 4:07
  then
• 4:07
  they're
• 4:07
  more
• 4:08
  adventurous
• 4:08
  on
• 4:08
  that
• 4:08
  flavor
• 4:09
  exploration,
• 4:10
  if
• 4:10
  they're
• 4:10
  familiar.
• 4:11
  So
• 4:11
  then
• 4:11
  you
• 4:11
  can
• 4:11
  start
• 4:11
  to
• 4:11
  sort
• 4:11
  of
• 4:12
  go
• 4:12
  into
• 4:12
  botanicals
• 4:13
  or
• 4:13
  really
• 4:14
  spicy
• 4:14
  and
• 4:14
  hot
• 4:14
  things
• 4:15
  like
• 4:15
  that's
• 4:15
  sort
• 4:16
  of
• 4:16
  some
• 4:16
  of
• 4:16
  the
• 4:16
  emerging,
• 4:17
  not
• 4:17
  necessarily
• 4:17
  emerging,
• 4:18
  those
• 4:18
  have
• 4:18
  been
• 4:19
  really
• 4:19
  formal
• 4:19
  trends
• 4:20
  that
• 4:20
  we've
• 4:20
  Seen
• 4:20
  for
• 4:20
  a
• 4:20
  while
• 4:21
  now.
• 4:21
  I've
• 4:21
  never
• 4:21
  thought
• 4:22
  about
• 4:22
  that
• 4:22
  before.
• 4:22
  That's
• 4:22
  interesting.
• 4:23
  It's
• 4:24
  Safe
• 4:24
  Zone
• 4:24
  and
• 4:24
  then.
• 4:25
  Yeah,
• 4:25
  right,
• 4:25
  right.
• 4:25
  It's
• 4:26
  kind
• 4:26
  of
• 4:26
  like,
• 4:26
  kind
• 4:26
  of
• 4:27
  like
• 4:27
  how
• 4:27
  men
• 4:27
  shop
• 4:27
  for
• 4:27
  apparel
• 4:28
  in
• 4:28
  a
• 4:28
  lot
• 4:28
  of
• 4:28
  ways.
• 4:29
  All
• 4:29
  right,
• 4:29
  so
• 4:30
  from
• 4:30
  the
• 4:30
  chair
• 4:30
  atop
• 4:31
  which
• 4:31
  you
• 4:31
  sit,
• 4:32
  if
• 4:32
  you
• 4:32
  were
• 4:32
  to
• 4:33
  guess
• 4:33
  or
• 4:33
  pontificate,
• 4:34
  we
• 4:34
  always
• 4:34
  like
• 4:35
  to
• 4:35
  get
• 4:35
  a
• 4:35
  little
• 4:35
  prognostication
• 4:36
  when
• 4:36
  we
• 4:36
  can.
• 4:36
  Sure.
• 4:37
  How
• 4:37
  do
• 4:37
  you
• 4:37
  think
• 4:37
  grocery
• 4:38
  retailing
• 4:38
  is
• 4:38
  going
• 4:38
  to
• 4:38
  change
• 4:39
  in
• 4:39
  the
• 4:39
  next,
• 4:39
  you
• 4:40
  know,
• 4:40
  three
• 4:40
  to
• 4:40
  five
• 4:40
  years,
• 4:40
  Even
• 4:41
  five
• 4:41
  to
• 4:41
  ten
• 4:41
  years?
• 4:42
  Yeah,
• 4:42
  absolutely.
• 4:43
  So
• 4:43
  I
• 4:43
  think
• 4:43
  there's
• 4:44
  certainly
• 4:44
  going
• 4:44
  to
• 4:44
  continue
• 4:45
  to
• 4:45
  be
• 4:45
  this
• 4:45
  evolution
• 4:46
  of
• 4:47
  satisfying
• 4:48
  needs
• 4:48
  digitally
• 4:49
  or
• 4:50
  with
• 4:50
  home
• 4:50
  delivery,
• 4:51
  things
• 4:51
  of
• 4:51
  that
• 4:52
  nature,
• 4:52
  really
• 4:52
  sort
• 4:52
  of
• 4:53
  maybe
• 4:54
  changing
• 4:55
  the
• 4:55
  way
• 4:55
  you
• 4:56
  engage
• 4:56
  with
• 4:56
  the
• 4:56
  retailer.
• 4:57
  I
• 4:57
  do
• 4:58
  believe
• 4:58
  that
• 4:58
  there
• 4:58
  are
• 4:59
  still
• 4:59
  going
• 4:59
  to
• 4:59
  be
• 4:59
  people
• 4:59
  that
• 5:00
  enjoy
• 5:00
  that
• 5:01
  treasure
• 5:01
  hunt
• 5:01
  and
• 5:01
  that
• 5:02
  walking
• 5:02
  the
• 5:02
  store
• 5:02
  and
• 5:03
  the
• 5:03
  shopping.
• 5:03
  So
• 5:03
  I
• 5:03
  don't
• 5:03
  necessarily
• 5:04
  think
• 5:04
  that
• 5:04
  that's
• 5:04
  going
• 5:04
  to
• 5:04
  go
• 5:04
  away,
• 5:05
  but
• 5:05
  perhaps
• 5:06
  the
• 5:06
  way
• 5:06
  you
• 5:06
  do
• 5:06
  that
• 5:07
  and
• 5:07
  the
• 5:07
  way
• 5:07
  you
• 5:07
  engage
• 5:08
  with
• 5:08
  the
• 5:08
  products
• 5:09
  may
• 5:09
  continue
• 5:09
  to
• 5:10
  evolve
• 5:10
  as
• 5:10
  shoppers
• 5:11
  have
• 5:11
  access
• 5:11
  to
• 5:12
  more
• 5:12
  and
• 5:12
  more
• 5:12
  information
• 5:14
  and
• 5:14
  they
• 5:14
  have
• 5:15
  access
• 5:15
  to
• 5:16
  sort
• 5:16
  of
• 5:16
  a
• 5:16
  broader
• 5:16
  variety
• 5:17
  of
• 5:17
  retailers
• 5:18
  through
• 5:18
  their
• 5:18
  phones
• 5:18
  or
• 5:19
  their
• 5:19
  devices.
• 5:19
  And
• 5:19
  what
• 5:19
  are
• 5:20
  you
• 5:20
  envisioning
• 5:20
  there?
• 5:20
  Like,
• 5:21
  take
• 5:21
  us
• 5:22
  in
• 5:22
  the
• 5:22
  head
• 5:22
  of
• 5:22
  Katie.
• 5:22
  Like,
• 5:22
  what
• 5:23
  are
• 5:23
  you
• 5:23
  envisioning
• 5:23
  in
• 5:23
  terms.
• 5:23
  Of,
• 5:24
  like,
• 5:24
  what
• 5:24
  that
• 5:25
  could
• 5:25
  look
• 5:25
  like?
• 5:25
  Not
• 5:25
  that
• 5:25
  it
• 5:26
  will
• 5:26
  look
• 5:26
  like,
• 5:26
  but
• 5:26
  like,
• 5:26
  what
• 5:26
  do
• 5:27
  you
• 5:27
  think
• 5:27
  it
• 5:27
  could
• 5:27
  look
• 5:27
  like?
• 5:27
  So
• 5:28
  it
• 5:28
  could.
• 5:28
  For
• 5:28
  me,
• 5:28
  my
• 5:29
  perspective
• 5:29
  is
• 5:29
  it
• 5:29
  could
• 5:30
  look
• 5:30
  like
• 5:30
  all
• 5:30
  of
• 5:30
  the
• 5:30
  things
• 5:31
  that
• 5:31
  I
• 5:31
  know
• 5:31
  I'm
• 5:32
  gonna
• 5:32
  buy
• 5:32
  on
• 5:32
  the
• 5:33
  regular
• 5:33
  show
• 5:33
  up
• 5:33
  at
• 5:33
  my
• 5:34
  house.
• 5:34
  Yeah,
• 5:34
  yeah.
• 5:35
  But
• 5:35
  when
• 5:35
  I've
• 5:35
  got.
• 5:35
  Everyone
• 5:35
  always
• 5:36
  talks
• 5:36
  about
• 5:36
  that.
• 5:36
  Yeah,
• 5:37
  right.
• 5:37
  When
• 5:37
  I
• 5:37
  got,
• 5:37
  when
• 5:37
  I
• 5:38
  want
• 5:38
  to
• 5:38
  try
• 5:38
  something,
• 5:39
  that's
• 5:39
  where
• 5:39
  I've
• 5:40
  got
• 5:40
  this
• 5:40
  opportunity
• 5:41
  to
• 5:41
  engage
• 5:41
  in
• 5:41
  a
• 5:42
  store.
• 5:42
  And
• 5:42
  I
• 5:42
  believe
• 5:42
  that
• 5:43
  stores
• 5:43
  could
• 5:43
  actually
• 5:44
  potentially
• 5:45
  even
• 5:46
  reconfigure
• 5:47
  their
• 5:48
  layouts
• 5:48
  to
• 5:48
  accommodate
• 5:49
  that.
• 5:49
  Right.
• 5:50
  Again,
• 5:50
  so
• 5:51
  enabling
• 5:51
  sort
• 5:52
  of
• 5:52
  this
• 5:52
  more
• 5:53
  adventurous,
• 5:53
  more
• 5:55
  experiential
• 5:56
  type
• 5:56
  of
• 5:57
  retail
• 5:57
  experience.
• 5:58
  As
• 5:58
  you're
• 5:58
  shopping
• 5:59
  the
• 5:59
  store,
• 5:59
  you're
• 5:59
  really
• 5:59
  engaging
• 6:00
  with
• 6:00
  the
• 6:00
  products
• 6:00
  or
• 6:00
  it
• 6:01
  becomes
• 6:01
  sort
• 6:01
  of
• 6:02
  more
• 6:02
  of
• 6:02
  an
• 6:02
  event,
• 6:03
  more
• 6:03
  social,
• 6:04
  more
• 6:04
  community
• 6:05
  based,
• 6:05
  as
• 6:05
  opposed
• 6:05
  to
• 6:06
  necessarily
• 6:07
  me
• 6:07
  just
• 6:07
  going
• 6:07
  to
• 6:08
  fill
• 6:08
  a
• 6:08
  shopping
• 6:08
  cart.
• 6:09
  And
• 6:09
  how
• 6:09
  do
• 6:09
  you
• 6:10
  have
• 6:10
  conversations
• 6:10
  with
• 6:11
  some
• 6:11
  of
• 6:11
  your
• 6:11
  brand
• 6:12
  partners
• 6:12
  too,
• 6:13
  as
• 6:13
  you're
• 6:14
  helping
• 6:14
  them
• 6:14
  understand
• 6:15
  like
• 6:16
  this
• 6:16
  new
• 6:16
  way
• 6:16
  of
• 6:17
  shopping
• 6:17
  or
• 6:17
  how
• 6:17
  to
• 6:18
  present
• 6:18
  their
• 6:18
  product
• 6:18
  or
• 6:19
  even
• 6:19
  like,
• 6:19
  I'm
• 6:19
  thinking,
• 6:20
  you
• 6:20
  talk
• 6:20
  about
• 6:20
  the
• 6:21
  repeat
• 6:21
  things
• 6:21
  that
• 6:21
  I
• 6:21
  order,
• 6:22
  like,
• 6:22
  I
• 6:22
  get
• 6:22
  the
• 6:22
  same
• 6:23
  brand
• 6:23
  of
• 6:23
  milk
• 6:24
  every
• 6:24
  single
• 6:24
  time.
• 6:25
  How
• 6:25
  do
• 6:25
  you
• 6:25
  help
• 6:26
  them
• 6:26
  think
• 6:26
  about,
• 6:26
  like,
• 6:26
  how
• 6:26
  do
• 6:27
  I
• 6:27
  break
• 6:27
  through
• 6:27
  then
• 6:28
  in
• 6:28
  that
• 6:28
  category
• 6:29
  when
• 6:29
  somebody's
• 6:30
  already
• 6:30
  pre
• 6:30
  ordered
• 6:31
  their
• 6:31
  milk
• 6:31
  and
• 6:31
  now
• 6:32
  like,
• 6:32
  how
• 6:32
  do
• 6:32
  I
• 6:32
  get
• 6:32
  them
• 6:33
  to
• 6:33
  think
• 6:33
  about
• 6:33
  that
• 6:34
  in
• 6:34
  a
• 6:34
  different
• 6:34
  way
• 6:35
  or
• 6:35
  even
• 6:36
  get
• 6:36
  more
• 6:36
  experiential
• 6:37
  with
• 6:37
  their
• 6:37
  product?
• 6:38
  So
• 6:38
  I
• 6:38
  think
• 6:38
  that's
• 6:39
  where
• 6:39
  you've
• 6:40
  got
• 6:40
  to
• 6:40
  first
• 6:40
  drive
• 6:41
  trial.
• 6:41
  So
• 6:41
  you
• 6:41
  have
• 6:41
  to
• 6:42
  make
• 6:42
  it
• 6:42
  accessible
• 6:42
  to
• 6:43
  me
• 6:43
  and
• 6:43
  you
• 6:43
  have
• 6:43
  to
• 6:43
  make
• 6:44
  it
• 6:44
  meaningful
• 6:44
  to
• 6:44
  me.
• 6:44
  And
• 6:45
  so
• 6:45
  that's
• 6:45
  one
• 6:45
  of
• 6:45
  the
• 6:45
  pieces
• 6:46
  that
• 6:46
  we
• 6:46
  always
• 6:46
  engage
• 6:47
  with
• 6:47
  some
• 6:47
  of
• 6:47
  our
• 6:47
  suppliers
• 6:48
  on
• 6:48
  is
• 6:49
  really
• 6:49
  what
• 6:50
  is
• 6:50
  the
• 6:50
  shopper
• 6:50
  looking
• 6:50
  for
• 6:51
  in
• 6:51
  terms
• 6:51
  of
• 6:51
  that
• 6:51
  access?
• 6:52
  And
• 6:52
  then
• 6:52
  quite
• 6:52
  honestly,
• 6:53
  driving
• 6:53
  trial,
• 6:54
  there's
• 6:54
  nothing
• 6:54
  better
• 6:55
  than
• 6:55
  either
• 6:56
  having
• 6:56
  people
• 6:57
  advocate
• 6:57
  for
• 6:57
  you
• 6:57
  that
• 6:58
  I'm
• 6:58
  familiar
• 6:58
  with
• 6:58
  and
• 6:58
  know
• 6:59
  and
• 6:59
  trust.
• 6:59
  We
• 6:59
  see
• 6:59
  that
• 6:59
  a
• 7:00
  lot
• 7:00
  with
• 7:00
  mom
• 7:00
  and
• 7:00
  baby.
• 7:01
  Mom
• 7:02
  seeks
• 7:02
  out
• 7:03
  sort
• 7:03
  of
• 7:03
  those
• 7:04
  trusted
• 7:04
  advisors
• 7:05
  and
• 7:05
  those
• 7:05
  trusted
• 7:05
  advisors
• 7:06
  are
• 7:06
  like
• 7:07
  on
• 7:07
  TikTok
• 7:08
  and
• 7:08
  Instagram.
• 7:08
  Right.
• 7:09
  So
• 7:09
  it's
• 7:09
  a
• 7:10
  whole
• 7:10
  new
• 7:10
  dimension
• 7:11
  there.
• 7:11
  So
• 7:11
  there's
• 7:11
  definitely
• 7:12
  some
• 7:12
  partnership
• 7:12
  and
• 7:12
  engagement
• 7:13
  at
• 7:14
  that
• 7:14
  level
• 7:14
  as
• 7:14
  well.
• 7:15
  So
• 7:15
  I
• 7:15
  imagine
• 7:15
  that'll
• 7:16
  be
• 7:16
  something.
• 7:16
  You'll
• 7:16
  be
• 7:16
  talking
• 7:16
  to
• 7:17
  your
• 7:17
  CBG
• 7:18
  partners
• 7:18
  here
• 7:18
  at
• 7:19
  fmi.
• 7:19
  But
• 7:19
  what
• 7:19
  else
• 7:20
  brings
• 7:20
  you
• 7:20
  here?
• 7:20
  What
• 7:20
  else
• 7:21
  are
• 7:21
  you
• 7:21
  excited
• 7:21
  to
• 7:21
  do
• 7:21
  while
• 7:21
  you're
• 7:22
  at
• 7:22
  the
• 7:22
  show?
• 7:22
  Well,
• 7:23
  a
• 7:23
  big
• 7:23
  part
• 7:23
  of
• 7:24
  our
• 7:24
  role
• 7:24
  at
• 7:24
  FMI
• 7:25
  is
• 7:25
  also
• 7:25
  engaging
• 7:25
  with
• 7:25
  our
• 7:26
  members.
• 7:26
  Right.
• 7:26
  So
• 7:27
  Again,
• 7:27
  we've
• 7:27
  got
• 7:27
  48
• 7:28
  members
• 7:28
  across.
• 7:28
  The
• 7:28
  U.S.
• 7:29
  good
• 7:29
  way
• 7:29
  to
• 7:29
  get
• 7:29
  to
• 7:29
  see
• 7:29
  them
• 7:30
  all.
• 7:30
  Yeah,
• 7:30
  we
• 7:30
  absolutely
• 7:31
  will
• 7:31
  have
• 7:31
  strategic
• 7:32
  conversations
• 7:32
  with
• 7:33
  them.
• 7:33
  We
• 7:33
  will
• 7:34
  partner
• 7:34
  with
• 7:34
  some
• 7:34
  of
• 7:34
  our
• 7:35
  CPG
• 7:36
  partners
• 7:36
  that
• 7:36
  also
• 7:36
  do
• 7:36
  own
• 7:37
  brands
• 7:37
  and
• 7:37
  as
• 7:37
  well
• 7:37
  as
• 7:38
  technology
• 7:38
  providers
• 7:39
  to
• 7:39
  continue
• 7:39
  to
• 7:40
  evolve
• 7:40
  and
• 7:40
  stay
• 7:41
  on
• 7:41
  the
• 7:41
  cutting
• 7:41
  edge.
• 7:42
  Excellent.
• 7:42
  Yes,
• 7:42
  absolutely.
• 7:43
  Well,
• 7:43
  thank
• 7:44
  you,
• 7:44
  Katie.
• 7:44
  Thanks
• 7:44
  for
• 7:44
  stopping
• 7:45
  by.
• 7:45
  Absolutely.
• 7:46
  I
• 7:46
  want
• 7:46
  to
• 7:46
  make
• 7:46
  this
• 7:46
  happen
• 7:46
  too.
• 7:47
  Katie
• 7:48
  and
• 7:48
  I
• 7:48
  would,
• 7:48
  for
• 7:48
  those
• 7:48
  that
• 7:49
  want
• 7:49
  to
• 7:49
  understand
• 7:49
  how
• 7:49
  the
• 7:49
  sausage
• 7:50
  is
• 7:50
  made,
• 7:50
  Katie
• 7:50
  and
• 7:50
  I
• 7:50
  went
• 7:50
  back
• 7:50
  and
• 7:50
  forth
• 7:51
  a
• 7:51
  few
• 7:51
  times.
• 7:51
  We
• 7:51
  were
• 7:51
  able
• 7:52
  to
• 7:52
  nail
• 7:52
  it
• 7:52
  down.
• 7:52
  Absolutely.
• 7:53
  Great.
• 7:53
  You're
• 7:53
  our
• 7:53
  first
• 7:53
  person
• 7:53
  we've
• 7:54
  ever
• 7:54
  had
• 7:54
  from
• 7:54
  Top
• 7:54
  Coats.
• 7:55
  Oh,
• 7:55
  well,
• 7:55
  thanks.
• 7:56
  So
• 7:56
  thanks
• 7:56
  for
• 7:56
  spending
• 7:56
  time
• 7:56
  with
• 7:57
  us.
• 7:57
  Thank
• 7:57
  you
• 7:57
  very
• 7:57
  much,
• 7:57
  guys.
• 7:58
  Appreciate
• 7:58
  it.
• 7:58
  And
• 7:58
  we
• 7:58
  hope
• 7:59
  you
• 7:59
  have
• 7:59
  a
• 7:59
  great
• 7:59
  rest
• 7:59
  of
• 7:59
  the
• 8:00
  show.
• 8:00
  And
• 8:00
  thanks
• 8:01
  to
• 8:01
  Simbi
• 8:01
  for
• 8:01
  sponsoring
• 8:02
  our
• 8:02
  coverage.
• 8:02
  And
• 8:03
  until
• 8:03
  next
• 8:03
  time,
• 8:04
  be
• 8:04
  careful
• 8:04
  out
• 8:05
  there.