Latest / Omni Talk Retail / Can 14,000 Stores Innovate as One Network? SPAR's CEO Explains | CGF 2026

Transcript

Can 14,000 Stores Innovate as One Network? SPAR's CEO Explains | CGF 2026 · Omni Talk Retail

• 0:00
  Hello,
• 0:00
  everyone.
• 0:01
  This
• 0:01
  is
• 0:01
  omnitalk
• 0:02
  Retail.
• 0:02
  I
• 0:02
  am
• 0:03
  Chris
• 0:03
  Walden,
• 0:03
  and
• 0:04
  we
• 0:04
  are
• 0:04
  coming
• 0:04
  to
• 0:04
  you
• 0:04
  live
• 0:05
  once
• 0:05
  again
• 0:06
  from
• 0:06
  the
• 0:06
  Consumer
• 0:07
  Goods
• 0:07
  Forum
• 0:08
  Global
• 0:08
  Summit
• 0:09
  in
• 0:09
  Vienna,
• 0:10
  Austria.
• 0:10
  And
• 0:10
  we
• 0:10
  are
• 0:11
  of
• 0:11
  course,
• 0:11
  also
• 0:11
  recording
• 0:12
  this
• 0:12
  from
• 0:12
  the
• 0:12
  CGF
• 0:13
  Leadership
• 0:14
  Studio,
• 0:14
  which
• 0:14
  is
• 0:14
  sponsored
• 0:15
  by
• 0:16
  Vuzion.
• 0:16
  Now,
• 0:16
  joining
• 0:17
  me,
• 0:17
  very
• 0:18
  excited
• 0:18
  about
• 0:18
  this
• 0:18
  next
• 0:18
  interview.
• 0:19
  Joining
• 0:20
  me
• 0:20
  is
• 0:20
  Tobias
• 0:21
  Washmuth,
• 0:22
  the
• 0:22
  CEO
• 0:22
  and
• 0:23
  Managing
• 0:23
  Director
• 0:24
  at
• 0:24
  Spar
• 0:24
  International.
• 0:25
  How
• 0:25
  did
• 0:25
  I
• 0:25
  do
• 0:25
  there,
• 0:25
  Tobias?
• 0:26
  Did
• 0:26
  I
• 0:26
  say
• 0:26
  that
• 0:26
  right?
• 0:26
  Chris
• 0:27
  is
• 0:27
  pretty
• 0:27
  good.
• 0:27
  Thank
• 0:27
  you
• 0:27
  very
• 0:28
  much.
• 0:28
  To
• 0:28
  be
• 0:28
  as
• 0:28
  a.
• 0:29
  Was
• 0:30
  a
• 0:30
  German.
• 0:31
  Yes.
• 0:31
  It's
• 0:31
  not
• 0:31
  easy
• 0:32
  to
• 0:32
  roll
• 0:32
  off
• 0:32
  the
• 0:33
  tongue,
• 0:33
  but
• 0:33
  you
• 0:33
  did
• 0:33
  very
• 0:33
  well.
• 0:34
  Thank
• 0:34
  you,
• 0:34
  man.
• 0:34
  Thank
• 0:34
  you.
• 0:34
  I
• 0:35
  appreciate
• 0:35
  that.
• 0:35
  Appreciate
• 0:36
  that.
• 0:36
  Not
• 0:36
  sure
• 0:36
  I
• 0:36
  believe
• 0:36
  you,
• 0:37
  but
• 0:37
  I
• 0:37
  appreciate
• 0:37
  it.
• 0:38
  All
• 0:38
  right,
• 0:38
  so
• 0:38
  tell
• 0:39
  our
• 0:39
  audience.
• 0:39
  Tell
• 0:39
  our
• 0:39
  audience
• 0:39
  about.
• 0:40
  I
• 0:40
  want
• 0:40
  to
• 0:40
  hear
• 0:40
  about
• 0:40
  yourself,
• 0:41
  your
• 0:41
  career
• 0:41
  history,
• 0:42
  and
• 0:42
  also
• 0:42
  specifically
• 0:43
  about
• 0:43
  Spar
• 0:43
  International.
• 0:44
  Okay.
• 0:45
  Well,
• 0:45
  thank
• 0:45
  you
• 0:45
  very
• 0:45
  much
• 0:46
  for
• 0:46
  the
• 0:46
  invitation
• 0:47
  to
• 0:47
  do
• 0:47
  this.
• 0:47
  I'm
• 0:48
  happy
• 0:48
  to
• 0:48
  share.
• 0:49
  So,
• 0:49
  as
• 0:49
  I
• 0:49
  just
• 0:49
  explained,
• 0:50
  my
• 0:50
  name
• 0:50
  is
• 0:50
  German,
• 0:51
  so
• 0:51
  I
• 0:51
  was
• 0:51
  born
• 0:52
  in
• 0:52
  Germany.
• 0:52
  But
• 0:53
  you
• 0:53
  can
• 0:53
  hear
• 0:53
  hopefully
• 0:54
  from
• 0:54
  also
• 0:54
  the
• 0:54
  accent.
• 0:55
  I
• 0:55
  grew
• 0:55
  up
• 0:55
  in
• 0:55
  the
• 0:55
  United
• 0:55
  Kingdom.
• 0:56
  Okay.
• 0:56
  Yes,
• 0:57
  I
• 0:57
  was
• 0:57
  wondering
• 0:57
  about
• 0:57
  that.
• 0:57
  So
• 0:58
  I'm
• 0:58
  grew
• 0:58
  up
• 0:59
  bilingually.
• 0:59
  That
• 1:00
  explains
• 1:00
  a
• 1:00
  little
• 1:01
  bit
• 1:01
  about
• 1:01
  my
• 1:01
  career
• 1:01
  because
• 1:02
  I
• 1:02
  started
• 1:02
  my
• 1:03
  first
• 1:04
  role
• 1:04
  in
• 1:04
  the
• 1:04
  industry
• 1:05
  was
• 1:05
  actually
• 1:05
  working
• 1:05
  for
• 1:06
  English
• 1:06
  chewing
• 1:06
  gum
• 1:07
  out
• 1:07
  in
• 1:08
  UN
• 1:08
  in
• 1:09
  the
• 1:09
  now
• 1:09
  part
• 1:10
  of
• 1:10
  Mars.
• 1:10
  But
• 1:10
  that
• 1:10
  was
• 1:11
  the
• 1:11
  early
• 1:12
  days.
• 1:12
  Wow,
• 1:13
  exciting
• 1:13
  days.
• 1:14
  It's
• 1:14
  just
• 1:14
  the
• 1:14
  early
• 1:14
  90s.
• 1:15
  What
• 1:15
  year
• 1:15
  was
• 1:15
  this
• 1:15
  in
• 1:16
  the
• 1:16
  early
• 1:16
  90s?
• 1:16
  Okay.
• 1:17
  The
• 1:17
  Berlin
• 1:17
  Wall
• 1:17
  had
• 1:17
  come
• 1:18
  down,
• 1:18
  Europe
• 1:18
  had
• 1:19
  opened
• 1:19
  up,
• 1:19
  and
• 1:19
  Rigdish
• 1:20
  Chewingham
• 1:20
  was
• 1:20
  going
• 1:20
  on
• 1:21
  trucks
• 1:21
  into
• 1:22
  the
• 1:22
  central
• 1:22
  Eastern
• 1:23
  Europe.
• 1:24
  And
• 1:24
  that's
• 1:24
  how
• 1:25
  I
• 1:25
  then
• 1:26
  was
• 1:26
  picked
• 1:27
  up
• 1:27
  by
• 1:27
  Marks
• 1:27
  and
• 1:28
  Spencer.
• 1:28
  Okay.
• 1:29
  Because
• 1:29
  they
• 1:29
  were
• 1:29
  looking
• 1:29
  to
• 1:30
  enter
• 1:30
  into
• 1:30
  the
• 1:30
  German
• 1:30
  market
• 1:31
  at
• 1:31
  the
• 1:31
  time.
• 1:31
  There's
• 1:32
  a
• 1:32
  German
• 1:32
  guy,
• 1:32
  speaks
• 1:33
  English,
• 1:33
  has
• 1:34
  some
• 1:34
  experience.
• 1:34
  Finance
• 1:35
  was
• 1:35
  my
• 1:35
  background.
• 1:36
  Got
• 1:36
  it.
• 1:36
  So
• 1:37
  I
• 1:37
  was
• 1:37
  with
• 1:37
  Marks
• 1:37
  and
• 1:37
  Spencer
• 1:38
  and
• 1:38
  I
• 1:38
  had
• 1:38
  a
• 1:38
  great
• 1:38
  time
• 1:38
  there.
• 1:39
  And
• 1:40
  store
• 1:40
  roles,
• 1:41
  regional
• 1:41
  roles,
• 1:42
  marketing
• 1:43
  director
• 1:43
  for
• 1:43
  the
• 1:44
  Germany,
• 1:44
  the
• 1:44
  Benelux.
• 1:45
  Okay.
• 1:45
  And
• 1:45
  then
• 1:45
  I
• 1:45
  joined
• 1:46
  SPA
• 1:46
  in
• 1:47
  the
• 1:47
  summer
• 1:47
  of
• 1:47
  2000.
• 1:48
  So
• 1:48
  26
• 1:49
  years
• 1:49
  with
• 1:49
  SPA
• 1:50
  International.
• 1:51
  26
• 1:51
  years.
• 1:51
  Wow.
• 1:52
  26
• 1:52
  years.
• 1:53
  And.
• 1:53
  But
• 1:53
  the
• 1:54
  unique
• 1:54
  thing
• 1:54
  about
• 1:54
  SPA,
• 1:55
  it's
• 1:55
  always
• 1:55
  different.
• 1:56
  So
• 1:56
  today,
• 1:57
  SPA
• 1:58
  is
• 1:58
  in
• 1:58
  50
• 1:58
  countries.
• 1:59
  We
• 1:59
  have
• 2:00
  a
• 2:00
  global
• 2:00
  turnover
• 2:00
  of
• 2:01
  50.9
• 2:02
  billion
• 2:03
  euros.
• 2:04
  Big
• 2:05
  13
• 2:05
  and
• 2:06
  a
• 2:06
  half
• 2:06
  thousand
• 2:06
  stores
• 2:07
  or
• 2:07
  more
• 2:08
  and
• 2:08
  growing
• 2:09
  with
• 2:09
  a
• 2:09
  growing
• 2:09
  presence.
• 2:10
  And
• 2:10
  Spa
• 2:11
  is
• 2:12
  a
• 2:12
  Dutch
• 2:12
  brand,
• 2:13
  Dutch
• 2:13
  heritage.
• 2:14
  We
• 2:14
  started
• 2:14
  in
• 2:15
  1932.
• 2:16
  The
• 2:16
  name
• 2:16
  I
• 2:16
  need
• 2:16
  to
• 2:17
  explain
• 2:17
  Spa.
• 2:18
  Yeah,
• 2:18
  I've
• 2:19
  always
• 2:19
  wondered
• 2:19
  that,
• 2:19
  actually.
• 2:20
  Well,
• 2:20
  here
• 2:20
  you
• 2:21
  go.
• 2:21
  Yeah,
• 2:21
  here
• 2:21
  we
• 2:21
  go.
• 2:22
  So
• 2:22
  it's
• 2:22
  in
• 2:23
  German.
• 2:23
  It
• 2:23
  means
• 2:23
  to
• 2:23
  save.
• 2:24
  Okay.
• 2:24
  That's
• 2:24
  actually
• 2:25
  not
• 2:25
  the
• 2:25
  origin,
• 2:25
  the
• 2:26
  origins
• 2:26
  comes
• 2:26
  from
• 2:27
  its
• 2:27
  founding
• 2:27
  mission.
• 2:28
  Okay.
• 2:28
  Which
• 2:28
  is
• 2:29
  in
• 2:29
  Dutch,
• 2:29
  do
• 2:29
  en
• 2:29
  rachte
• 2:30
  zamenwerken
• 2:31
  profiteren
• 2:31
  all
• 2:32
  regamartech,
• 2:33
  which
• 2:33
  translates
• 2:33
  into
• 2:34
  English
• 2:34
  for
• 2:35
  the
• 2:35
  viewers,
• 2:35
  is
• 2:36
  working
• 2:37
  together.
• 2:37
  S
• 2:38
  zammenwerken
• 2:38
  P
• 2:39
  profetieren
• 2:39
  benefit
• 2:40
  A
• 2:41
  Allen
• 2:41
  everyone
• 2:42
  hegel
• 2:43
  mate
• 2:43
  sustainably.
• 2:44
  So
• 2:44
  by
• 2:44
  working
• 2:44
  together,
• 2:45
  allshore
• 2:45
  benefit.
• 2:46
  Okay.
• 2:47
  And
• 2:47
  we
• 2:47
  talk
• 2:47
  about
• 2:47
  that
• 2:48
  today
• 2:48
  in
• 2:48
  the
• 2:48
  sense
• 2:49
  of
• 2:49
  better
• 2:49
  together.
• 2:49
  Yeah.
• 2:50
  Which
• 2:50
  is
• 2:50
  about
• 2:51
  uniting
• 2:51
  the
• 2:52
  economies
• 2:52
  of
• 2:52
  scale,
• 2:53
  the
• 2:54
  human
• 2:54
  resources,
• 2:55
  the
• 2:55
  human
• 2:55
  capital,
• 2:56
  the
• 2:56
  economic
• 2:57
  capital
• 2:57
  for
• 2:58
  ensuring
• 2:59
  that
• 2:59
  to
• 3:00
  create
• 3:00
  advantages
• 3:01
  for
• 3:02
  our
• 3:02
  countries
• 3:03
  which
• 3:03
  can
• 3:03
  then
• 3:04
  operate
• 3:04
  together
• 3:05
  collaboratively,
• 3:06
  internationally,
• 3:07
  but
• 3:07
  maintain
• 3:07
  their
• 3:07
  independence.
• 3:08
  Got
• 3:08
  it,
• 3:08
  got
• 3:09
  it.
• 3:09
  And
• 3:09
  now
• 3:09
  can
• 3:09
  you
• 3:10
  touch
• 3:10
  on
• 3:10
  the
• 3:10
  structure
• 3:11
  too
• 3:11
  underneath,
• 3:12
  you
• 3:12
  know,
• 3:12
  in
• 3:13
  terms
• 3:13
  of
• 3:13
  how
• 3:13
  all
• 3:13
  the
• 3:13
  stores
• 3:13
  are
• 3:14
  operating
• 3:14
  by
• 3:14
  country
• 3:14
  too?
• 3:15
  Because
• 3:15
  I
• 3:15
  think
• 3:15
  that's
• 3:15
  going
• 3:15
  to
• 3:15
  be
• 3:15
  a
• 3:16
  key
• 3:16
  piece
• 3:16
  of
• 3:16
  this
• 3:16
  interview
• 3:16
  for
• 3:17
  everyone
• 3:17
  to
• 3:17
  understand.
• 3:17
  I
• 3:18
  think
• 3:18
  we
• 3:18
  are
• 3:19
  very
• 3:19
  unique
• 3:20
  in
• 3:20
  that
• 3:20
  sense.
• 3:22
  So,
• 3:22
  and
• 3:22
  I
• 3:22
  will
• 3:22
  give
• 3:22
  you
• 3:23
  maybe
• 3:23
  a
• 3:23
  couple
• 3:23
  of
• 3:23
  examples
• 3:24
  because
• 3:24
  it's
• 3:25
  not
• 3:25
  a
• 3:25
  uniform
• 3:25
  structure
• 3:26
  globally.
• 3:27
  We
• 3:27
  adapt
• 3:28
  and
• 3:28
  we
• 3:28
  evolve
• 3:29
  in
• 3:29
  different
• 3:29
  markets
• 3:30
  internationally
• 3:31
  over
• 3:31
  a
• 3:31
  period
• 3:31
  of
• 3:31
  time.
• 3:32
  We
• 3:32
  find
• 3:32
  ourselves
• 3:33
  today
• 3:33
  here
• 3:33
  in
• 3:33
  Vienna,
• 3:34
  in
• 3:34
  Austria.
• 3:35
  And
• 3:35
  that's
• 3:35
  a
• 3:35
  very
• 3:35
  key
• 3:35
  market
• 3:36
  because
• 3:36
  here
• 3:36
  in
• 3:36
  Austria
• 3:37
  we
• 3:37
  have
• 3:37
  37.1%
• 3:38
  market
• 3:38
  share,
• 3:39
  market
• 3:39
  leader.
• 3:40
  Our
• 3:40
  store
• 3:41
  structure
• 3:41
  here
• 3:41
  is,
• 3:42
  yes,
• 3:42
  we
• 3:42
  have
• 3:43
  a
• 3:43
  lot
• 3:43
  of
• 3:43
  independent
• 3:44
  retailers,
• 3:44
  independently
• 3:45
  owned
• 3:45
  and
• 3:45
  operated.
• 3:46
  About
• 3:46
  50%
• 3:47
  of
• 3:47
  the
• 3:47
  stores
• 3:48
  are
• 3:48
  under
• 3:48
  there,
• 3:50
  but
• 3:50
  the
• 3:50
  other
• 3:50
  50%
• 3:51
  are
• 3:51
  company
• 3:51
  owned,
• 3:51
  which
• 3:52
  are
• 3:52
  owned
• 3:52
  by
• 3:52
  the
• 3:53
  families
• 3:53
  who
• 3:54
  are
• 3:54
  the
• 3:54
  original
• 3:54
  investors
• 3:55
  and
• 3:55
  developers
• 3:55
  of
• 3:55
  spa.
• 3:56
  And
• 3:56
  those
• 3:56
  company
• 3:57
  stores
• 3:57
  would
• 3:57
  be
• 3:57
  larger
• 3:58
  hypermarkets,
• 3:58
  Intersper,
• 3:59
  Eurospar,
• 3:59
  but
• 4:00
  also
• 4:00
  Spa,
• 4:00
  Spa
• 4:00
  Gourmet,
• 4:01
  and
• 4:01
  they
• 4:01
  would
• 4:02
  be
• 4:02
  about
• 4:02
  75%
• 4:03
  of
• 4:03
  the
• 4:03
  turnover.
• 4:03
  Okay,
• 4:04
  so
• 4:05
  that's
• 4:06
  structure.
• 4:06
  If
• 4:06
  you
• 4:07
  go
• 4:07
  to
• 4:07
  our
• 4:07
  second
• 4:07
  largest
• 4:07
  market
• 4:08
  on
• 4:08
  the
• 4:08
  other
• 4:08
  side
• 4:09
  of
• 4:09
  the
• 4:09
  world,
• 4:09
  into
• 4:09
  South
• 4:10
  Africa
• 4:11
  where
• 4:11
  we
• 4:11
  have
• 4:11
  7.5
• 4:12
  billion
• 4:12
  euro
• 4:12
  turnover,
• 4:13
  close
• 4:13
  127%
• 4:14
  market
• 4:14
  share
• 4:15
  of
• 4:15
  the
• 4:15
  modern
• 4:16
  trade
• 4:16
  market,
• 4:17
  then
• 4:18
  all
• 4:18
  of
• 4:18
  our
• 4:18
  stores,
• 4:19
  100%,
• 4:20
  well,
• 4:20
  96%
• 4:22
  of
• 4:23
  our
• 4:23
  stores,
• 4:23
  the
• 4:23
  4%
• 4:24
  are
• 4:24
  corporate
• 4:25
  stores
• 4:25
  for
• 4:25
  a
• 4:25
  period
• 4:25
  of
• 4:26
  time
• 4:26
  before
• 4:26
  they
• 4:26
  are
• 4:27
  again
• 4:27
  then
• 4:28
  put
• 4:28
  in
• 4:28
  the
• 4:28
  hands
• 4:28
  of
• 4:28
  independent
• 4:29
  retailers.
• 4:29
  So
• 4:30
  our
• 4:30
  structure
• 4:31
  historically
• 4:32
  was
• 4:32
  that
• 4:32
  SPA
• 4:33
  was
• 4:33
  brought
• 4:33
  together
• 4:34
  as
• 4:34
  wholesalers
• 4:35
  who
• 4:35
  would
• 4:35
  unite
• 4:36
  together
• 4:36
  under
• 4:37
  one
• 4:37
  common
• 4:37
  brand,
• 4:38
  bring
• 4:39
  in
• 4:39
  the
• 4:39
  retailers
• 4:40
  to
• 4:40
  work
• 4:40
  together
• 4:41
  on
• 4:41
  a
• 4:41
  common
• 4:41
  identity
• 4:42
  to
• 4:42
  share
• 4:42
  those
• 4:43
  economies
• 4:43
  of
• 4:43
  scale,
• 4:44
  share
• 4:44
  the
• 4:44
  benefits,
• 4:44
  be
• 4:45
  part
• 4:45
  of
• 4:45
  a
• 4:45
  larger
• 4:45
  group,
• 4:46
  maintain
• 4:46
  their
• 4:46
  independence.
• 4:47
  But
• 4:47
  over
• 4:47
  time,
• 4:47
  as
• 4:48
  we
• 4:48
  had
• 4:48
  to
• 4:48
  compete
• 4:48
  against
• 4:49
  different
• 4:49
  retail
• 4:49
  and
• 4:50
  different
• 4:50
  markets,
• 4:50
  we
• 4:50
  also
• 4:51
  invested
• 4:51
  then
• 4:51
  into
• 4:51
  our
• 4:52
  own
• 4:52
  larger
• 4:53
  format
• 4:53
  company
• 4:53
  owned
• 4:54
  divisions.
• 4:54
  And
• 4:54
  that's
• 4:55
  therefore
• 4:55
  we
• 4:56
  have
• 4:57
  quite
• 4:57
  a
• 4:58
  agility
• 4:59
  in
• 4:59
  adapting
• 4:59
  to
• 5:00
  the
• 5:00
  different
• 5:00
  markets
• 5:00
  internationally
• 5:01
  in
• 5:01
  that
• 5:01
  sense.
• 5:02
  And
• 5:02
  therefore,
• 5:03
  while
• 5:03
  there
• 5:04
  is
• 5:05
  the
• 5:05
  Heritage
• 5:05
  would
• 5:06
  have
• 5:06
  been
• 5:06
  pure
• 5:06
  independent
• 5:07
  retailers
• 5:07
  today
• 5:08
  will
• 5:08
  find
• 5:08
  a
• 5:09
  hybrid
• 5:10
  of
• 5:10
  independent
• 5:10
  together
• 5:10
  with
• 5:11
  company
• 5:11
  owned
• 5:11
  stores,
• 5:12
  multi
• 5:12
  formats
• 5:13
  from
• 5:14
  80
• 5:14
  square
• 5:14
  meters
• 5:15
  to
• 5:15
  8,000
• 5:15
  square
• 5:16
  meter
• 5:16
  stores
• 5:16
  and
• 5:17
  online
• 5:17
  multi
• 5:17
  channel
• 5:18
  at
• 5:18
  the
• 5:18
  same
• 5:18
  time.
• 5:18
  Yeah,
• 5:18
  right,
• 5:19
  right,
• 5:19
  yeah.
• 5:19
  So
• 5:19
  there's
• 5:20
  a
• 5:20
  wide
• 5:20
  range
• 5:21
  of
• 5:21
  activity
• 5:21
  going
• 5:22
  on
• 5:22
  in
• 5:22
  your
• 5:22
  organization,
• 5:23
  like
• 5:24
  large
• 5:24
  country
• 5:25
  differences,
• 5:26
  size
• 5:26
  differences,
• 5:27
  particularly
• 5:27
  in
• 5:27
  terms
• 5:27
  of
• 5:28
  the
• 5:28
  size
• 5:28
  of
• 5:28
  the
• 5:28
  stores
• 5:28
  as
• 5:29
  well
• 5:29
  and
• 5:29
  the
• 5:29
  formats
• 5:30
  too.
• 5:30
  So,
• 5:31
  so
• 5:31
  that's
• 5:31
  really.
• 5:32
  So
• 5:32
  that's
• 5:32
  why
• 5:32
  I
• 5:32
  wanted
• 5:32
  to
• 5:32
  make
• 5:33
  sure.
• 5:33
  And
• 5:33
  you
• 5:33
  did
• 5:33
  a
• 5:33
  great
• 5:33
  job
• 5:33
  covering
• 5:34
  that
• 5:34
  too.
• 5:34
  So
• 5:34
  thank
• 5:34
  you
• 5:34
  for
• 5:34
  that
• 5:35
  take.
• 5:35
  Thank
• 5:35
  you
• 5:35
  for
• 5:35
  taking
• 5:36
  the
• 5:36
  time
• 5:36
  to
• 5:36
  do
• 5:36
  that.
• 5:36
  So
• 5:37
  the
• 5:37
  reason
• 5:37
  I
• 5:37
  wanted
• 5:37
  to
• 5:37
  ask
• 5:37
  you
• 5:37
  that
• 5:38
  specifically
• 5:38
  was
• 5:39
  the
• 5:39
  theme
• 5:39
  of
• 5:39
  this
• 5:40
  conference
• 5:40
  is
• 5:40
  the
• 5:40
  Adaptive
• 5:41
  Edge.
• 5:42
  That's
• 5:42
  the
• 5:42
  theme.
• 5:42
  Right.
• 5:43
  And
• 5:43
  that's
• 5:43
  about
• 5:44
  how
• 5:44
  do
• 5:44
  we
• 5:44
  accelerate
• 5:45
  particularly
• 5:46
  around
• 5:46
  AI
• 5:47
  as
• 5:47
  a
• 5:47
  collective
• 5:48
  retail
• 5:48
  and
• 5:48
  CPG
• 5:49
  community.
• 5:50
  So
• 5:50
  I'm
• 5:50
  curious,
• 5:51
  as
• 5:51
  you
• 5:51
  think
• 5:51
  about
• 5:52
  that
• 5:53
  key
• 5:54
  message
• 5:54
  here,
• 5:56
  how
• 5:56
  does
• 5:56
  it
• 5:56
  translate
• 5:57
  to
• 5:57
  an
• 5:57
  organization
• 5:57
  like
• 5:58
  yours
• 5:58
  that
• 5:58
  is
• 5:58
  structured
• 5:59
  like
• 5:59
  that?
• 5:59
  How
• 6:00
  do
• 6:00
  you.
• 6:00
  What
• 6:00
  are
• 6:00
  some
• 6:00
  of
• 6:00
  the
• 6:00
  different
• 6:01
  puts
• 6:01
  and
• 6:01
  takes
• 6:01
  you
• 6:01
  have
• 6:01
  to
• 6:02
  work
• 6:02
  through?
• 6:02
  Perfect
• 6:02
  for
• 6:02
  us.
• 6:03
  You.
• 6:03
  Perfect
• 6:03
  for
• 6:04
  you.
• 6:04
  Yeah.
• 6:04
  Because
• 6:04
  if
• 6:05
  you
• 6:05
  look
• 6:05
  at
• 6:05
  the
• 6:06
  structure,
• 6:06
  you
• 6:07
  have
• 6:07
  to
• 6:07
  look
• 6:07
  at
• 6:07
  SPA
• 6:08
  as
• 6:08
  a
• 6:09
  network
• 6:09
  far
• 6:10
  reaching,
• 6:10
  with
• 6:10
  many
• 6:10
  notes.
• 6:11
  Okay.
• 6:11
  Interconnected
• 6:13
  with
• 6:13
  different
• 6:14
  businesses.
• 6:15
  And
• 6:15
  if
• 6:16
  I
• 6:16
  take
• 6:16
  our
• 6:17
  international
• 6:18
  breadth,
• 6:18
  we
• 6:19
  reach
• 6:19
  from
• 6:20
  the
• 6:20
  southern
• 6:20
  tip
• 6:21
  of
• 6:21
  Australia,
• 6:22
  east
• 6:23
  coast
• 6:23
  of
• 6:23
  China,
• 6:24
  to
• 6:24
  the
• 6:24
  very
• 6:25
  circle
• 6:26
  of
• 6:26
  Norway.
• 6:26
  Right.
• 6:26
  To
• 6:27
  the.
• 6:28
  To
• 6:28
  the
• 6:28
  west
• 6:28
  coast,
• 6:29
  the
• 6:29
  violent
• 6:29
  global.
• 6:30
  Right.
• 6:30
  And
• 6:31
  we
• 6:31
  have
• 6:31
  all
• 6:31
  these
• 6:31
  different
• 6:31
  businesses
• 6:32
  at
• 6:32
  different
• 6:32
  phases
• 6:33
  of
• 6:33
  development
• 6:33
  and
• 6:34
  evolution.
• 6:35
  And
• 6:35
  we
• 6:36
  always
• 6:36
  say
• 6:36
  that
• 6:36
  if
• 6:37
  there
• 6:37
  is
• 6:37
  a
• 6:37
  challenge
• 6:37
  within
• 6:38
  the
• 6:38
  business,
• 6:39
  what
• 6:39
  we
• 6:39
  can
• 6:40
  do
• 6:40
  is
• 6:40
  use
• 6:40
  the
• 6:41
  center
• 6:41
  where
• 6:41
  SPA
• 6:42
  International
• 6:42
  is
• 6:42
  to
• 6:42
  connect
• 6:43
  to
• 6:43
  solutions
• 6:44
  that
• 6:44
  have
• 6:44
  already
• 6:44
  been
• 6:44
  trialled
• 6:45
  and
• 6:45
  tested
• 6:46
  in
• 6:46
  other
• 6:46
  markets
• 6:47
  to
• 6:48
  bring
• 6:48
  that
• 6:48
  adaption
• 6:49
  then
• 6:49
  back
• 6:49
  home.
• 6:49
  And
• 6:50
  that
• 6:50
  works
• 6:50
  just
• 6:50
  as
• 6:50
  much
• 6:50
  in
• 6:50
  the
• 6:51
  world
• 6:51
  of
• 6:51
  technology.
• 6:52
  And
• 6:52
  often
• 6:52
  actually
• 6:52
  technology
• 6:53
  is
• 6:53
  some
• 6:53
  of
• 6:53
  the
• 6:53
  best
• 6:53
  examples
• 6:54
  in
• 6:55
  that
• 6:55
  because
• 6:56
  certain
• 6:56
  countries
• 6:57
  historically
• 6:58
  maybe
• 6:58
  have
• 6:58
  also
• 6:58
  been
• 6:59
  advanced.
• 7:00
  If
• 7:00
  I
• 7:00
  take
• 7:00
  into
• 7:01
  the
• 7:01
  give
• 7:01
  you
• 7:01
  some
• 7:02
  practical
• 7:02
  examples.
• 7:03
  Most
• 7:03
  recently,
• 7:04
  if
• 7:04
  you're
• 7:04
  looking
• 7:04
  at
• 7:05
  automation
• 7:06
  in
• 7:06
  distribution
• 7:07
  and
• 7:07
  supply
• 7:07
  chain
• 7:08
  and
• 7:08
  the
• 7:08
  use
• 7:09
  of
• 7:09
  AI
• 7:09
  technologies
• 7:10
  in
• 7:10
  that
• 7:10
  sense,
• 7:11
  maybe
• 7:11
  for
• 7:11
  us
• 7:11
  one
• 7:12
  of
• 7:12
  the
• 7:12
  leaders
• 7:12
  would
• 7:12
  maybe
• 7:13
  in
• 7:13
  the
• 7:13
  Nordics,
• 7:13
  in
• 7:13
  Norway,
• 7:14
  where
• 7:14
  we
• 7:14
  have
• 7:15
  obviously
• 7:15
  labor
• 7:15
  cost
• 7:16
  structures
• 7:16
  are
• 7:16
  very
• 7:17
  different
• 7:17
  to
• 7:17
  the
• 7:17
  rest
• 7:17
  of
• 7:17
  Europe.
• 7:18
  So
• 7:18
  we
• 7:18
  have
• 7:18
  evolved
• 7:19
  and
• 7:19
  maybe
• 7:19
  in
• 7:20
  AGVs
• 7:20
  and
• 7:21
  automation
• 7:22
  at
• 7:22
  a
• 7:22
  much
• 7:22
  faster
• 7:23
  pace
• 7:23
  than
• 7:24
  other
• 7:24
  parts
• 7:24
  of
• 7:24
  the
• 7:24
  world.
• 7:25
  Most
• 7:25
  recently
• 7:26
  we've
• 7:26
  seen
• 7:26
  the
• 7:27
  tremendous
• 7:27
  growth
• 7:27
  and
• 7:28
  development
• 7:28
  and
• 7:28
  digitalization
• 7:29
  in
• 7:29
  China.
• 7:30
  Now
• 7:30
  spa.
• 7:31
  I
• 7:31
  spent
• 7:31
  10
• 7:31
  years
• 7:31
  of
• 7:32
  my
• 7:32
  career
• 7:32
  developing
• 7:33
  and
• 7:33
  growing
• 7:33
  SPA
• 7:34
  in
• 7:34
  China.
• 7:35
  China.
• 7:35
  I
• 7:35
  was
• 7:35
  previously
• 7:36
  managing
• 7:36
  director
• 7:36
  there
• 7:37
  and
• 7:37
  I'm
• 7:37
  obviously
• 7:38
  very
• 7:38
  close
• 7:38
  to
• 7:39
  the
• 7:39
  developments
• 7:39
  and
• 7:40
  particularly
• 7:40
  I
• 7:40
  would
• 7:41
  Say
• 7:41
  post
• 7:42
  Covid
• 7:42
  the
• 7:43
  acceleration
• 7:43
  that
• 7:44
  we've
• 7:44
  seen
• 7:44
  in
• 7:44
  China,
• 7:44
  the
• 7:45
  digital
• 7:45
  transformation
• 7:46
  allows
• 7:47
  us
• 7:47
  which
• 7:47
  we
• 7:47
  recently
• 7:48
  did
• 7:48
  together
• 7:49
  with
• 7:49
  the
• 7:49
  cgf.
• 7:50
  Also
• 7:50
  in
• 7:50
  terms
• 7:51
  of
• 7:51
  the
• 7:52
  sprints
• 7:52
  is
• 7:52
  to
• 7:52
  go
• 7:53
  out
• 7:53
  to
• 7:53
  China,
• 7:54
  visit
• 7:54
  China,
• 7:55
  shop,
• 7:56
  engage
• 7:56
  with
• 7:56
  the
• 7:56
  key
• 7:57
  leading
• 7:57
  technology
• 7:57
  suppliers
• 7:58
  in
• 7:58
  the
• 7:58
  market,
• 7:59
  utilize
• 7:59
  the
• 7:59
  own
• 8:00
  experiences
• 8:00
  from
• 8:01
  our
• 8:01
  businesses
• 8:01
  there
• 8:02
  to
• 8:02
  share
• 8:03
  that
• 8:03
  learning
• 8:03
  them
• 8:04
  back
• 8:04
  to
• 8:05
  other
• 8:05
  organizations
• 8:06
  that
• 8:06
  maybe
• 8:07
  are
• 8:07
  exploring,
• 8:08
  looking
• 8:08
  and
• 8:08
  for
• 8:09
  solutions.
• 8:10
  So
• 8:10
  to
• 8:11
  answer,
• 8:11
  to
• 8:11
  be
• 8:11
  very
• 8:12
  specific
• 8:12
  to
• 8:12
  your
• 8:13
  question,
• 8:13
  we
• 8:13
  use
• 8:13
  a
• 8:14
  network,
• 8:14
  okay.
• 8:15
  Of
• 8:15
  trial.
• 8:16
  So
• 8:16
  there's
• 8:16
  a
• 8:16
  lot
• 8:17
  of
• 8:17
  hype.
• 8:18
  But
• 8:18
  what
• 8:18
  we
• 8:18
  seek
• 8:19
  to
• 8:19
  do
• 8:19
  is
• 8:19
  to
• 8:20
  find
• 8:20
  actual
• 8:21
  examples
• 8:21
  of
• 8:22
  use
• 8:22
  cases
• 8:22
  that
• 8:22
  have
• 8:23
  been
• 8:23
  successful
• 8:23
  in
• 8:23
  one
• 8:24
  market
• 8:25
  and
• 8:25
  then
• 8:25
  to
• 8:25
  bring
• 8:25
  that
• 8:26
  back
• 8:26
  and
• 8:26
  to
• 8:27
  then
• 8:27
  to
• 8:27
  interconnect
• 8:28
  this
• 8:29
  technology.
• 8:30
  I'll
• 8:30
  give
• 8:30
  you
• 8:30
  one
• 8:30
  more
• 8:30
  example,
• 8:31
  then
• 8:31
  I'll
• 8:32
  go
• 8:32
  from
• 8:33
  here.
• 8:34
  So
• 8:34
  back
• 8:35
  to
• 8:35
  Norway.
• 8:35
  Labor
• 8:35
  costs
• 8:36
  very
• 8:36
  high.
• 8:36
  We've
• 8:36
  been
• 8:36
  really
• 8:37
  developing
• 8:37
  autonomous
• 8:38
  stores.
• 8:38
  Okay.
• 8:39
  And
• 8:39
  the
• 8:39
  autonomous
• 8:39
  stores
• 8:40
  in
• 8:40
  such
• 8:40
  a
• 8:40
  way
• 8:40
  is
• 8:41
  actually
• 8:41
  we've
• 8:42
  taken
• 8:42
  the
• 8:42
  actual
• 8:42
  physical
• 8:43
  store
• 8:43
  which
• 8:43
  is
• 8:43
  existing
• 8:44
  stores
• 8:44
  and
• 8:45
  then
• 8:45
  created
• 8:46
  a
• 8:46
  hybrid
• 8:46
  autonomous
• 8:47
  which
• 8:47
  means
• 8:47
  after
• 8:48
  a
• 8:48
  certain
• 8:49
  time
• 8:49
  of
• 8:49
  day
• 8:50
  it's
• 8:50
  only
• 8:51
  it's
• 8:51
  self
• 8:51
  serve
• 8:52
  shopping
• 8:53
  accessibility.
• 8:54
  That
• 8:55
  technology
• 8:56
  is
• 8:56
  very
• 8:56
  affordable
• 8:57
  in
• 8:57
  terms
• 8:57
  of
• 8:58
  how
• 8:58
  our
• 8:58
  Norwegian
• 8:59
  colleagues
• 8:59
  have
• 8:59
  developed
• 9:00
  it
• 9:00
  together
• 9:00
  with
• 9:00
  their
• 9:01
  technology
• 9:01
  partners
• 9:02
  which
• 9:02
  allows
• 9:02
  us
• 9:03
  to
• 9:03
  take
• 9:03
  the
• 9:03
  business
• 9:04
  case,
• 9:04
  the
• 9:04
  ROI
• 9:05
  and
• 9:05
  immediately
• 9:06
  apply
• 9:06
  it
• 9:06
  and
• 9:07
  then
• 9:07
  bring
• 9:07
  it
• 9:07
  into
• 9:07
  a
• 9:07
  new
• 9:07
  market
• 9:08
  like
• 9:08
  for
• 9:08
  example
• 9:09
  Iceland
• 9:09
  where
• 9:09
  we
• 9:09
  just
• 9:10
  recently
• 9:10
  launched.
• 9:11
  So
• 9:11
  that's
• 9:11
  kind
• 9:11
  of
• 9:11
  how
• 9:11
  we
• 9:12
  work
• 9:12
  in
• 9:12
  our
• 9:12
  network,
• 9:13
  adaptive
• 9:14
  network.
• 9:14
  Got
• 9:14
  it.
• 9:14
  That
• 9:14
  makes
• 9:15
  it.
• 9:15
  I
• 9:15
  mean
• 9:15
  that
• 9:15
  makes
• 9:15
  sense.
• 9:16
  So
• 9:16
  my
• 9:16
  next
• 9:16
  question
• 9:17
  then
• 9:17
  around
• 9:17
  that
• 9:17
  is
• 9:17
  like
• 9:18
  how
• 9:18
  does
• 9:18
  the
• 9:18
  innovation
• 9:19
  end
• 9:19
  up
• 9:19
  happening?
• 9:20
  Does
• 9:20
  it
• 9:20
  come
• 9:20
  bottoms
• 9:21
  up
• 9:21
  then
• 9:21
  or
• 9:21
  is
• 9:21
  it
• 9:22
  top
• 9:22
  down
• 9:23
  based
• 9:23
  on
• 9:23
  what
• 9:23
  you
• 9:23
  see
• 9:24
  and
• 9:24
  then
• 9:24
  you
• 9:24
  kind
• 9:24
  of
• 9:24
  share
• 9:25
  it
• 9:25
  outwards?
• 9:25
  Both,
• 9:26
  both.
• 9:27
  So
• 9:27
  I
• 9:28
  mean
• 9:28
  you
• 9:28
  have
• 9:29
  innovation
• 9:30
  trends
• 9:31
  being
• 9:31
  led
• 9:32
  coming
• 9:33
  out
• 9:33
  of
• 9:33
  one
• 9:33
  particular
• 9:33
  market
• 9:34
  which
• 9:34
  is
• 9:34
  then
• 9:35
  picked
• 9:36
  up
• 9:36
  by
• 9:36
  the
• 9:36
  central
• 9:36
  team.
• 9:37
  We
• 9:37
  don't
• 9:37
  really
• 9:37
  have
• 9:37
  top
• 9:38
  down
• 9:38
  or
• 9:38
  bottom
• 9:38
  up.
• 9:38
  It's
• 9:39
  more
• 9:39
  like
• 9:39
  we
• 9:39
  have
• 9:39
  a
• 9:39
  central.
• 9:40
  You
• 9:40
  do
• 9:40
  you
• 9:40
  have
• 9:40
  a
• 9:40
  central
• 9:41
  function.
• 9:42
  Okay,
• 9:42
  so
• 9:43
  we
• 9:43
  have
• 9:43
  a
• 9:43
  central
• 9:43
  resource
• 9:44
  that's
• 9:44
  Power
• 9:44
  International,
• 9:45
  okay.
• 9:45
  And
• 9:45
  then
• 9:45
  we
• 9:45
  have
• 9:46
  our
• 9:46
  collaborative
• 9:46
  network
• 9:47
  and
• 9:47
  then
• 9:47
  through
• 9:47
  the
• 9:48
  network
• 9:48
  we
• 9:48
  pull
• 9:48
  that
• 9:49
  together
• 9:49
  and
• 9:49
  through
• 9:50
  that
• 9:50
  center
• 9:50
  point
• 9:50
  we
• 9:51
  can
• 9:51
  then
• 9:51
  expedite
• 9:51
  it.
• 9:52
  Same
• 9:53
  through
• 9:54
  being
• 9:54
  members
• 9:54
  of
• 9:55
  CGF
• 9:55
  and
• 9:55
  the
• 9:56
  activities
• 9:56
  that
• 9:56
  we
• 9:56
  have
• 9:57
  within
• 9:57
  the
• 9:57
  CGF
• 9:58
  and
• 9:58
  the
• 9:58
  involvement
• 9:58
  that
• 9:58
  we
• 9:59
  have,
• 9:59
  we
• 9:59
  may
• 9:59
  see
• 10:00
  new
• 10:00
  trends
• 10:01
  and
• 10:01
  developments
• 10:01
  that
• 10:02
  we
• 10:02
  want
• 10:02
  to
• 10:02
  bring
• 10:02
  back
• 10:03
  into
• 10:03
  the
• 10:03
  organization.
• 10:04
  We
• 10:04
  then
• 10:04
  structure
• 10:05
  our
• 10:05
  countries
• 10:06
  groups
• 10:06
  into
• 10:07
  expert
• 10:07
  pools.
• 10:08
  So
• 10:09
  we
• 10:09
  bring
• 10:09
  together
• 10:09
  the
• 10:10
  leading
• 10:10
  lights
• 10:10
  maybe
• 10:10
  in
• 10:11
  data
• 10:11
  science
• 10:12
  together
• 10:13
  to
• 10:13
  then
• 10:14
  develop
• 10:14
  and
• 10:15
  expedite
• 10:16
  those
• 10:16
  trends
• 10:16
  with
• 10:17
  them
• 10:17
  or
• 10:17
  bring
• 10:17
  that
• 10:18
  in
• 10:18
  logistics,
• 10:18
  supply
• 10:19
  chain,
• 10:20
  AI,
• 10:20
  automation
• 10:21
  so
• 10:21
  these
• 10:21
  what
• 10:22
  we
• 10:22
  call
• 10:22
  sort
• 10:22
  of
• 10:22
  Sprint
• 10:23
  working
• 10:23
  groups
• 10:24
  by
• 10:24
  multicultural
• 10:26
  members
• 10:26
  of
• 10:27
  the
• 10:27
  different
• 10:27
  countries
• 10:28
  coming
• 10:28
  together.
• 10:28
  Okay,
• 10:29
  got
• 10:29
  it.
• 10:29
  So
• 10:29
  the
• 10:30
  other
• 10:30
  part
• 10:30
  that
• 10:30
  I
• 10:30
  think
• 10:30
  is
• 10:32
  what's.
• 10:32
  It's.
• 10:32
  It's
• 10:33
  not,
• 10:33
  it's.
• 10:33
  It's
• 10:33
  germane
• 10:34
  to
• 10:34
  the
• 10:34
  discussion
• 10:34
  is
• 10:35
  data.
• 10:36
  You
• 10:36
  know,
• 10:36
  how
• 10:36
  do
• 10:36
  you
• 10:36
  coordinate
• 10:37
  data
• 10:37
  when
• 10:38
  you
• 10:38
  are
• 10:38
  running
• 10:38
  so
• 10:38
  many
• 10:39
  disparate
• 10:39
  organizations
• 10:40
  around
• 10:40
  the
• 10:40
  world
• 10:40
  too?
• 10:41
  What's
• 10:41
  your
• 10:41
  approach
• 10:41
  there?
• 10:42
  Well,
• 10:43
  I
• 10:43
  think
• 10:43
  the,
• 10:43
  what
• 10:44
  we've
• 10:44
  learned
• 10:44
  actually
• 10:44
  is
• 10:45
  the
• 10:46
  ability
• 10:47
  of
• 10:47
  being
• 10:48
  able
• 10:48
  to
• 10:48
  add
• 10:49
  value
• 10:49
  to
• 10:49
  our
• 10:50
  countries
• 10:50
  through
• 10:50
  SPA
• 10:51
  Data
• 10:51
  services.
• 10:52
  SPA
• 10:52
  Data
• 10:53
  Services
• 10:53
  is
• 10:53
  a
• 10:54
  central
• 10:54
  data
• 10:55
  consultancy.
• 10:56
  Okay.
• 10:56
  SPA
• 10:57
  that
• 10:57
  undertakes
• 10:58
  projects
• 10:59
  on
• 10:59
  behalf
• 10:59
  of
• 11:00
  the
• 11:00
  the
• 11:01
  countries
• 11:01
  which
• 11:01
  again
• 11:02
  is
• 11:02
  moving
• 11:02
  best
• 11:02
  practices
• 11:03
  and
• 11:03
  processes
• 11:04
  be
• 11:04
  that
• 11:05
  starting
• 11:05
  taking
• 11:05
  our
• 11:06
  first
• 11:06
  party
• 11:06
  data
• 11:07
  and
• 11:07
  analyzing
• 11:08
  that
• 11:08
  to
• 11:08
  get
• 11:09
  much
• 11:09
  better
• 11:09
  take
• 11:10
  on
• 11:11
  for
• 11:11
  example
• 11:11
  store
• 11:11
  format,
• 11:12
  cluster
• 11:13
  analysis,
• 11:14
  shopping
• 11:14
  basket,
• 11:15
  affinity,
• 11:16
  pricing,
• 11:17
  promotion,
• 11:18
  effectiveness
• 11:19
  and
• 11:19
  having
• 11:19
  run
• 11:20
  those,
• 11:20
  those
• 11:20
  type
• 11:21
  of
• 11:21
  data
• 11:21
  projects
• 11:22
  with
• 11:22
  a
• 11:22
  number
• 11:22
  of
• 11:22
  countries,
• 11:23
  you
• 11:23
  start
• 11:23
  to
• 11:24
  develop
• 11:24
  a
• 11:24
  standardized
• 11:25
  approach.
• 11:26
  Right.
• 11:26
  And
• 11:26
  also
• 11:27
  a
• 11:27
  way
• 11:27
  of
• 11:27
  structuring
• 11:28
  the
• 11:28
  data
• 11:29
  and
• 11:29
  learning.
• 11:30
  So
• 11:30
  it's
• 11:30
  possible
• 11:30
  for
• 11:30
  our
• 11:31
  teams
• 11:31
  who
• 11:31
  do
• 11:31
  not
• 11:31
  speak
• 11:32
  a
• 11:32
  word
• 11:32
  of
• 11:32
  Mandarin
• 11:33
  to
• 11:33
  run
• 11:34
  data
• 11:34
  projects
• 11:35
  with
• 11:35
  Chinese
• 11:36
  partner
• 11:36
  data
• 11:37
  in
• 11:37
  the
• 11:38
  same
• 11:38
  structure
• 11:38
  that
• 11:38
  would
• 11:39
  run
• 11:39
  the
• 11:39
  same
• 11:39
  type
• 11:39
  of
• 11:39
  analysis.
• 11:40
  Maybe
• 11:40
  an
• 11:40
  island,
• 11:42
  same
• 11:42
  structure,
• 11:42
  same
• 11:42
  format.
• 11:43
  And
• 11:44
  it's
• 11:44
  a
• 11:44
  question
• 11:44
  of
• 11:44
  their
• 11:45
  capacity
• 11:45
  building
• 11:45
  and
• 11:46
  onboarding
• 11:46
  that.
• 11:46
  So
• 11:47
  that's
• 11:48
  been
• 11:48
  a
• 11:48
  game
• 11:48
  changer
• 11:49
  for
• 11:49
  us.
• 11:49
  It's
• 11:49
  been
• 11:49
  really
• 11:50
  fundamental
• 11:50
  of
• 11:51
  how
• 11:51
  we
• 11:51
  look
• 11:51
  at
• 11:52
  the
• 11:52
  business,
• 11:52
  how
• 11:53
  we
• 11:53
  look
• 11:53
  in
• 11:53
  terms
• 11:53
  of
• 11:54
  our
• 11:54
  strategic
• 11:55
  development
• 11:55
  and
• 11:55
  also
• 11:56
  how
• 11:56
  we
• 11:56
  partner
• 11:57
  with
• 11:57
  key
• 11:59
  brands.
• 12:00
  Because
• 12:00
  obviously
• 12:01
  the
• 12:01
  insights
• 12:01
  that
• 12:01
  we
• 12:01
  have
• 12:02
  gives
• 12:02
  us
• 12:02
  a
• 12:02
  very
• 12:02
  competitive
• 12:03
  and
• 12:04
  well,
• 12:04
  compelling
• 12:06
  information
• 12:06
  which
• 12:07
  we
• 12:07
  can
• 12:07
  share
• 12:07
  on
• 12:08
  a
• 12:08
  strategic
• 12:08
  basis
• 12:09
  with
• 12:09
  our
• 12:09
  strategic
• 12:09
  partners.
• 12:10
  Right,
• 12:10
  right.
• 12:10
  Wow,
• 12:10
  that's
• 12:10
  a.
• 12:11
  Yeah,
• 12:11
  that's
• 12:11
  brilliant.
• 12:11
  That's
• 12:12
  brilliantly
• 12:12
  said.
• 12:12
  So
• 12:13
  the
• 12:13
  other
• 12:13
  interesting
• 12:13
  thing
• 12:14
  that
• 12:14
  I
• 12:14
  think
• 12:14
  that
• 12:15
  I
• 12:15
  find
• 12:15
  about
• 12:15
  that
• 12:16
  conversation
• 12:16
  is
• 12:16
  you
• 12:16
  are
• 12:17
  also
• 12:17
  the
• 12:18
  CGF
• 12:18
  board
• 12:19
  sponsor
• 12:19
  of
• 12:19
  the
• 12:19
  data
• 12:20
  driven
• 12:20
  value
• 12:21
  chain
• 12:21
  industry
• 12:22
  solution,
• 12:22
  which
• 12:22
  is
• 12:22
  a
• 12:23
  lot
• 12:23
  to
• 12:23
  say,
• 12:24
  but
• 12:24
  you
• 12:24
  are
• 12:24
  the
• 12:24
  sponsor
• 12:25
  and
• 12:25
  it
• 12:25
  sounds
• 12:26
  like
• 12:26
  you're
• 12:26
  the
• 12:26
  perfect
• 12:26
  guy
• 12:27
  for
• 12:27
  that
• 12:27
  given
• 12:27
  what
• 12:27
  you
• 12:27
  just
• 12:27
  described.
• 12:28
  But
• 12:28
  why
• 12:28
  did
• 12:28
  you
• 12:29
  sign
• 12:29
  up
• 12:29
  for
• 12:29
  that?
• 12:29
  Well,
• 12:29
  I,
• 12:30
  I
• 12:30
  signed
• 12:31
  up
• 12:31
  because
• 12:31
  we've
• 12:31
  had
• 12:31
  an
• 12:32
  involvement
• 12:33
  in
• 12:34
  the
• 12:34
  value
• 12:34
  chain
• 12:35
  and
• 12:35
  development
• 12:36
  of
• 12:36
  that.
• 12:36
  One
• 12:36
  of
• 12:36
  our
• 12:37
  key
• 12:37
  members,
• 12:38
  Tom
• 12:38
  Rose
• 12:39
  as
• 12:39
  a
• 12:39
  co
• 12:39
  chair
• 12:40
  and
• 12:40
  as
• 12:40
  a
• 12:41
  co
• 12:41
  chair
• 12:41
  and
• 12:41
  the
• 12:41
  involvement
• 12:42
  that
• 12:42
  we've
• 12:42
  had
• 12:42
  in
• 12:43
  digital
• 12:43
  and
• 12:43
  data
• 12:43
  and
• 12:44
  value
• 12:44
  chain
• 12:45
  over
• 12:46
  time
• 12:46
  we've
• 12:47
  seen
• 12:47
  obviously
• 12:47
  the
• 12:48
  growth
• 12:48
  and
• 12:48
  the
• 12:49
  importance
• 12:49
  of
• 12:49
  that
• 12:50
  within
• 12:50
  all
• 12:50
  of
• 12:50
  the
• 12:50
  discussions
• 12:51
  that
• 12:51
  we're
• 12:51
  having
• 12:51
  here
• 12:52
  as
• 12:52
  an
• 12:52
  industry
• 12:53
  most
• 12:53
  recently,
• 12:53
  if
• 12:54
  we
• 12:54
  bring
• 12:54
  it
• 12:54
  to
• 12:54
  where
• 12:54
  we
• 12:55
  are
• 12:55
  today
• 12:55
  in
• 12:55
  Vienna
• 12:56
  the
• 12:56
  last
• 12:56
  couple
• 12:56
  of
• 12:56
  days
• 12:57
  is
• 12:57
  obviously
• 12:58
  AI
• 12:59
  Cybersecurity
• 13:00
  and
• 13:00
  these
• 13:00
  are
• 13:01
  top
• 13:01
  of
• 13:01
  mind
• 13:01
  issues
• 13:02
  at
• 13:02
  CEO
• 13:02
  level
• 13:02
  which
• 13:03
  is
• 13:03
  very.
• 13:03
  Oh
• 13:03
  yeah
• 13:04
  for
• 13:04
  the
• 13:04
  organizations
• 13:05
  and
• 13:07
  this
• 13:07
  cross
• 13:07
  functional
• 13:08
  and
• 13:08
  bringing
• 13:09
  together
• 13:09
  manufacturers
• 13:10
  and
• 13:10
  retailers.
• 13:11
  I've
• 13:11
  been
• 13:11
  part
• 13:11
  of
• 13:12
  CGF
• 13:12
  and
• 13:12
  its
• 13:13
  predecessor
• 13:13
  CIES
• 13:14
  for
• 13:14
  over
• 13:15
  20
• 13:15
  years.
• 13:16
  I
• 13:16
  truly
• 13:16
  believe
• 13:17
  in
• 13:17
  the
• 13:18
  spirit
• 13:18
  of
• 13:18
  collaboration.
• 13:19
  I
• 13:19
  explained
• 13:19
  how
• 13:20
  we
• 13:20
  work
• 13:20
  at
• 13:20
  spa.
• 13:21
  Right.
• 13:21
  So
• 13:21
  it
• 13:21
  mirrors,
• 13:22
  so
• 13:22
  we
• 13:22
  feel
• 13:23
  very
• 13:23
  comfortable
• 13:24
  and
• 13:24
  this
• 13:24
  type
• 13:25
  of
• 13:25
  collaborative
• 13:26
  and
• 13:26
  pre
• 13:26
  competitive
• 13:27
  way
• 13:27
  of
• 13:28
  collaboration
• 13:28
  and
• 13:29
  therefore
• 13:29
  for
• 13:29
  me
• 13:29
  it
• 13:30
  was
• 13:30
  logical
• 13:31
  with
• 13:31
  the
• 13:31
  expertise
• 13:32
  that
• 13:32
  Tom
• 13:32
  Rose
• 13:33
  has
• 13:33
  as
• 13:33
  being
• 13:33
  one
• 13:34
  of
• 13:34
  the
• 13:34
  co
• 13:34
  chairs
• 13:35
  and
• 13:35
  together
• 13:35
  with
• 13:36
  his
• 13:36
  colleagues
• 13:37
  which
• 13:37
  is
• 13:37
  represented
• 13:37
  by
• 13:38
  PepsiCo
• 13:38
  and
• 13:38
  Mondelez
• 13:39
  and
• 13:39
  we
• 13:39
  have
• 13:40
  Migroth
• 13:40
  Turkey
• 13:40
  also
• 13:41
  there
• 13:41
  that
• 13:42
  as
• 13:42
  a
• 13:42
  retailer
• 13:42
  we
• 13:43
  want
• 13:43
  to
• 13:43
  work
• 13:43
  together
• 13:43
  with
• 13:44
  the
• 13:45
  fellow
• 13:45
  coaches
• 13:45
  and
• 13:46
  other
• 13:46
  members
• 13:46
  of
• 13:46
  the
• 13:47
  industry
• 13:47
  to
• 13:47
  seek
• 13:48
  to
• 13:48
  find
• 13:48
  solutions.
• 13:49
  Which
• 13:49
  is
• 13:49
  back
• 13:49
  to
• 13:50
  your
• 13:50
  question
• 13:50
  about
• 13:50
  standardization,
• 13:51
  utilization
• 13:52
  of
• 13:52
  data.
• 13:53
  How
• 13:53
  can
• 13:53
  we
• 13:53
  develop
• 13:54
  solutions
• 13:55
  for
• 13:55
  the
• 13:55
  industry
• 13:55
  which
• 13:56
  benefits
• 13:56
  all
• 13:56
  which
• 13:57
  is.
• 13:57
  I
• 13:57
  think
• 13:58
  the
• 13:58
  President
• 13:58
  this
• 13:58
  morning
• 13:59
  outlined
• 13:59
  perfectly
• 14:00
  well
• 14:00
  of
• 14:00
  the
• 14:00
  importance
• 14:00
  of
• 14:01
  standards.
• 14:01
  Right.
• 14:02
  Where
• 14:02
  you
• 14:02
  know,
• 14:02
  be
• 14:02
  that
• 14:03
  a
• 14:03
  container,
• 14:04
  shipping
• 14:04
  container
• 14:06
  and
• 14:06
  that's
• 14:06
  what
• 14:06
  this
• 14:07
  coalition
• 14:07
  and
• 14:07
  this
• 14:08
  is
• 14:08
  what
• 14:08
  our
• 14:08
  focus
• 14:08
  is
• 14:09
  on.
• 14:09
  Yeah,
• 14:09
  Scott
• 14:09
  Price
• 14:09
  and
• 14:10
  I
• 14:10
  were
• 14:10
  talking
• 14:10
  about
• 14:10
  the
• 14:10
  same
• 14:10
  thing
• 14:11
  this
• 14:11
  morning.
• 14:12
  Yeah,
• 14:12
  I
• 14:13
  mean
• 14:13
  you
• 14:13
  sound,
• 14:13
  you
• 14:13
  come
• 14:14
  across
• 14:14
  like
• 14:14
  a
• 14:15
  person
• 14:15
  that
• 14:16
  likes
• 14:16
  to
• 14:16
  eat
• 14:16
  what
• 14:16
  he
• 14:16
  cooks,
• 14:17
  so
• 14:17
  to
• 14:17
  speak
• 14:17
  is
• 14:18
  how
• 14:18
  it
• 14:18
  said
• 14:18
  that
• 14:18
  in
• 14:18
  the
• 14:18
  U.S.
• 14:19
  you
• 14:19
  know,
• 14:19
  in
• 14:19
  terms
• 14:19
  of
• 14:19
  like,
• 14:20
  you
• 14:20
  know,
• 14:20
  knowing
• 14:21
  how
• 14:21
  it
• 14:21
  works
• 14:21
  and
• 14:21
  then
• 14:21
  trying
• 14:21
  to
• 14:22
  make
• 14:22
  sure
• 14:22
  that
• 14:22
  everyone's
• 14:23
  doing
• 14:23
  it
• 14:23
  and
• 14:23
  is
• 14:23
  on
• 14:23
  the
• 14:23
  same
• 14:24
  page
• 14:24
  with
• 14:24
  it.
• 14:25
  Couple
• 14:25
  more
• 14:26
  questions
• 14:26
  here.
• 14:26
  So
• 14:26
  the
• 14:26
  intelligent
• 14:27
  data
• 14:27
  hub
• 14:28
  idea,
• 14:28
  you
• 14:28
  know,
• 14:28
  the
• 14:29
  store
• 14:29
  being
• 14:29
  an
• 14:29
  intelligent
• 14:30
  hub
• 14:30
  of
• 14:30
  data,
• 14:31
  how
• 14:32
  far
• 14:32
  are
• 14:32
  we
• 14:33
  from
• 14:33
  seeing
• 14:33
  say
• 14:34
  the
• 14:34
  smallest
• 14:34
  independent
• 14:35
  retailers
• 14:35
  from
• 14:36
  being
• 14:36
  able
• 14:36
  to
• 14:37
  actualize
• 14:37
  that
• 14:38
  idea
• 14:38
  in
• 14:38
  concept?
• 14:39
  We're
• 14:39
  seeing
• 14:39
  some
• 14:39
  of
• 14:39
  the
• 14:39
  bigger
• 14:40
  enterprise
• 14:40
  guys
• 14:41
  start
• 14:41
  to
• 14:41
  do
• 14:41
  it,
• 14:41
  start
• 14:42
  to
• 14:42
  explore
• 14:42
  it,
• 14:42
  start
• 14:42
  to
• 14:43
  pepper
• 14:43
  the
• 14:43
  edges
• 14:43
  with
• 14:44
  it.
• 14:44
  How
• 14:44
  far
• 14:44
  are
• 14:45
  we
• 14:45
  from
• 14:45
  seeing
• 14:45
  it
• 14:45
  across
• 14:45
  retail?
• 14:46
  I
• 14:46
  think
• 14:46
  the
• 14:46
  interesting
• 14:47
  thing
• 14:47
  is
• 14:47
  about
• 14:47
  the
• 14:48
  word
• 14:48
  independent
• 14:49
  doesn't
• 14:49
  necessarily
• 14:49
  mean
• 14:49
  small.
• 14:50
  True,
• 14:50
  true,
• 14:51
  true.
• 14:51
  Right.
• 14:52
  Because
• 14:52
  I'm
• 14:53
  the
• 14:53
  true.
• 14:53
  I
• 14:53
  also
• 14:54
  represent,
• 14:54
  I'm
• 14:54
  the
• 14:54
  president
• 14:55
  of
• 14:55
  Independent
• 14:55
  Retail
• 14:56
  Europe.
• 14:56
  Yeah.
• 14:56
  And
• 14:57
  that's
• 14:57
  an
• 14:57
  association
• 14:58
  which
• 14:58
  is
• 14:58
  represented
• 14:59
  by
• 14:59
  some
• 14:59
  of
• 14:59
  the
• 14:59
  key
• 15:00
  retailers.
• 15:00
  Actually
• 15:00
  the
• 15:00
  winning
• 15:01
  retailers.
• 15:01
  Yeah.
• 15:01
  From
• 15:02
  France,
• 15:02
  Leclerc,
• 15:03
  Inter,
• 15:03
  Marche,
• 15:04
  Copper,
• 15:04
  Tivu,
• 15:05
  Finland,
• 15:05
  Casco,
• 15:06
  you
• 15:06
  got
• 15:06
  Edika,
• 15:07
  River.
• 15:07
  All
• 15:07
  of
• 15:08
  Those
• 15:08
  are
• 15:08
  top
• 15:08
  one,
• 15:09
  two
• 15:09
  or
• 15:09
  three
• 15:09
  positions
• 15:10
  in
• 15:10
  the
• 15:10
  markets.
• 15:10
  Kona,
• 15:11
  SpA,
• 15:11
  ECA
• 15:12
  in
• 15:12
  Sweden.
• 15:13
  So
• 15:13
  some
• 15:13
  very
• 15:13
  major
• 15:13
  players.
• 15:14
  They're
• 15:14
  all
• 15:14
  independent
• 15:14
  retailers.
• 15:16
  Now
• 15:16
  if
• 15:16
  you
• 15:16
  look
• 15:17
  at
• 15:17
  the
• 15:17
  players
• 15:17
  I've
• 15:17
  mentioned
• 15:18
  there,
• 15:18
  including
• 15:18
  ourselves,
• 15:19
  spa,
• 15:19
  but
• 15:20
  you
• 15:20
  also
• 15:20
  look
• 15:20
  some
• 15:20
  of
• 15:20
  those
• 15:21
  other
• 15:21
  key
• 15:21
  retailers
• 15:22
  whilst
• 15:23
  they're
• 15:23
  structured,
• 15:23
  maybe
• 15:24
  with
• 15:24
  independent
• 15:25
  retail
• 15:25
  ownership
• 15:26
  because
• 15:26
  the
• 15:27
  same
• 15:27
  way
• 15:27
  that
• 15:27
  we
• 15:28
  are
• 15:28
  structured
• 15:28
  by
• 15:28
  integrating.
• 15:29
  Creating
• 15:29
  this
• 15:30
  collaborative
• 15:30
  might
• 15:30
  make
• 15:31
  it
• 15:31
  easier.
• 15:31
  It
• 15:31
  does,
• 15:32
  yeah.
• 15:33
  And
• 15:33
  therefore
• 15:35
  we
• 15:35
  look
• 15:35
  at
• 15:35
  the
• 15:36
  use
• 15:36
  of
• 15:36
  also
• 15:36
  AI
• 15:37
  in
• 15:37
  this
• 15:37
  space
• 15:38
  as
• 15:39
  an
• 15:39
  enabler,
• 15:40
  an
• 15:40
  accelerator.
• 15:41
  Call
• 15:41
  that.
• 15:41
  Yep.
• 15:42
  And
• 15:42
  in
• 15:43
  terms
• 15:43
  of
• 15:44
  an.
• 15:44
  In
• 15:44
  what
• 15:44
  did
• 15:44
  you
• 15:45
  say?
• 15:45
  Intelligent.
• 15:45
  Intelligent
• 15:46
  data
• 15:46
  hubs.
• 15:46
  I
• 15:47
  love
• 15:47
  all
• 15:47
  this.
• 15:47
  Yeah,
• 15:48
  right.
• 15:49
  The
• 15:49
  smart
• 15:49
  store.
• 15:50
  The
• 15:50
  smart
• 15:50
  store,
• 15:50
  the
• 15:50
  intelligent
• 15:51
  data
• 15:51
  hub,
• 15:51
  whatever
• 15:52
  you
• 15:52
  want
• 15:52
  to
• 15:52
  call
• 15:52
  it,
• 15:52
  choose
• 15:52
  your
• 15:53
  vernacular.
• 15:53
  The
• 15:53
  key
• 15:53
  point
• 15:54
  of
• 15:54
  this,
• 15:54
  the
• 15:54
  store
• 15:55
  is
• 15:56
  the
• 15:56
  point
• 15:57
  of
• 15:58
  execution.
• 15:59
  It's
• 15:59
  the
• 16:00
  point
• 16:00
  of
• 16:00
  moment
• 16:00
  of
• 16:01
  transaction
• 16:01
  sale
• 16:02
  where
• 16:02
  first
• 16:03
  party
• 16:03
  data,
• 16:04
  so
• 16:04
  that's
• 16:05
  always
• 16:05
  to
• 16:05
  call
• 16:05
  it
• 16:05
  intelligent
• 16:06
  or
• 16:06
  whatever
• 16:06
  that
• 16:06
  has
• 16:07
  been
• 16:07
  historically
• 16:08
  the
• 16:08
  point.
• 16:08
  So
• 16:08
  obviously
• 16:08
  that's
• 16:09
  the
• 16:09
  position
• 16:09
  as
• 16:09
  retailers
• 16:10
  and
• 16:11
  the
• 16:11
  owners
• 16:12
  of
• 16:12
  stores
• 16:12
  and
• 16:12
  having
• 16:13
  networks
• 16:14
  of
• 16:14
  stores.
• 16:14
  It's
• 16:15
  about
• 16:15
  in
• 16:15
  terms
• 16:16
  of
• 16:16
  structuring
• 16:16
  data
• 16:16
  and
• 16:17
  being
• 16:17
  able
• 16:17
  to
• 16:17
  pull
• 16:18
  that
• 16:18
  back
• 16:18
  together
• 16:19
  to
• 16:19
  then
• 16:19
  make
• 16:20
  intelligent
• 16:20
  analysis
• 16:21
  of
• 16:21
  the
• 16:21
  data.
• 16:22
  And
• 16:22
  I
• 16:22
  thought
• 16:23
  also
• 16:23
  we
• 16:23
  had
• 16:23
  a
• 16:23
  good
• 16:23
  example
• 16:24
  of
• 16:24
  that
• 16:24
  today
• 16:25
  from
• 16:25
  Molina,
• 16:26
  maybe
• 16:26
  coming
• 16:26
  out
• 16:27
  of
• 16:27
  as
• 16:27
  Watson
• 16:28
  of
• 16:28
  how
• 16:28
  they're
• 16:29
  not
• 16:29
  only
• 16:29
  doing
• 16:29
  the
• 16:29
  data
• 16:30
  analysis
• 16:30
  from
• 16:30
  it,
• 16:31
  but
• 16:31
  utilizing
• 16:32
  now
• 16:32
  the
• 16:32
  technology
• 16:33
  to
• 16:33
  give
• 16:33
  actually
• 16:34
  and
• 16:35
  promote
• 16:36
  solutions
• 16:37
  in
• 16:37
  terms
• 16:37
  of
• 16:37
  the
• 16:38
  data.
• 16:38
  So
• 16:39
  not
• 16:39
  just
• 16:39
  show
• 16:39
  me
• 16:39
  what
• 16:39
  the
• 16:39
  data
• 16:40
  means,
• 16:40
  but
• 16:40
  show
• 16:40
  me
• 16:40
  what
• 16:41
  actions
• 16:41
  I
• 16:41
  need
• 16:41
  to
• 16:41
  do
• 16:42
  in
• 16:42
  terms
• 16:42
  of
• 16:42
  inventory,
• 16:42
  out
• 16:42
  of
• 16:43
  storage,
• 16:43
  etc.
• 16:44
  And
• 16:44
  that
• 16:45
  is
• 16:45
  coming
• 16:45
  back
• 16:46
  to
• 16:46
  what
• 16:46
  I
• 16:46
  was
• 16:46
  saying
• 16:46
  about
• 16:46
  enablers
• 16:47
  and
• 16:48
  accelerators.
• 16:50
  This
• 16:51
  helps
• 16:52
  retailers,
• 16:53
  also
• 16:53
  retailers
• 16:54
  maybe,
• 16:54
  which
• 16:54
  may
• 16:54
  be
• 16:55
  considered
• 16:56
  as
• 16:56
  independents.
• 16:57
  It
• 16:58
  levels
• 16:58
  the
• 16:58
  playing
• 16:59
  field
• 16:59
  more.
• 17:00
  If
• 17:00
  you
• 17:00
  go
• 17:00
  back
• 17:00
  20
• 17:01
  years,
• 17:01
  maybe
• 17:01
  the
• 17:01
  big
• 17:01
  guys
• 17:02
  could
• 17:02
  invest
• 17:02
  in
• 17:02
  big
• 17:03
  data
• 17:03
  centers
• 17:03
  in
• 17:04
  Bangalore
• 17:04
  and
• 17:05
  have
• 17:05
  a
• 17:05
  thousand
• 17:05
  guys
• 17:06
  sitting
• 17:06
  behind
• 17:06
  computers
• 17:06
  and
• 17:07
  doing
• 17:07
  Google
• 17:07
  churning.
• 17:08
  And
• 17:08
  we
• 17:08
  weren't
• 17:09
  in
• 17:09
  the
• 17:09
  position
• 17:09
  to
• 17:09
  do
• 17:09
  that.
• 17:10
  We
• 17:10
  don't
• 17:10
  need
• 17:11
  a
• 17:11
  thousand
• 17:11
  people
• 17:11
  in
• 17:11
  Bangalore
• 17:12
  churning
• 17:12
  data
• 17:13
  anymore.
• 17:13
  We
• 17:14
  have
• 17:14
  first
• 17:14
  party
• 17:14
  data.
• 17:15
  We
• 17:15
  need
• 17:15
  a
• 17:15
  selective,
• 17:16
  smart
• 17:16
  bunch
• 17:17
  of
• 17:17
  teams
• 17:18
  who
• 17:18
  can
• 17:18
  pull
• 17:19
  that
• 17:19
  together.
• 17:19
  You
• 17:20
  can
• 17:20
  use
• 17:20
  technology
• 17:21
  to
• 17:21
  accelerate
• 17:21
  and
• 17:22
  to
• 17:22
  give
• 17:22
  us
• 17:22
  decisions,
• 17:23
  which
• 17:23
  helps
• 17:24
  our
• 17:24
  ultimate
• 17:24
  goal,
• 17:25
  which
• 17:25
  is
• 17:25
  helps
• 17:25
  our
• 17:25
  retailers
• 17:26
  make
• 17:26
  more
• 17:26
  money,
• 17:27
  be
• 17:27
  more
• 17:27
  productive
• 17:28
  and
• 17:28
  be
• 17:28
  more
• 17:28
  competitive.
• 17:29
  Because
• 17:29
  it's
• 17:29
  extremely
• 17:30
  competitive
• 17:30
  out
• 17:31
  there
• 17:31
  at
• 17:31
  the
• 17:31
  moment
• 17:31
  in
• 17:31
  the
• 17:32
  market
• 17:32
  for
• 17:32
  an
• 17:32
  independent
• 17:33
  retailer
• 17:33
  because
• 17:33
  of
• 17:34
  cost
• 17:34
  pressures
• 17:34
  that
• 17:35
  we
• 17:35
  feel
• 17:35
  as
• 17:35
  an
• 17:35
  industry
• 17:36
  with
• 17:36
  rising
• 17:36
  minimum
• 17:37
  wages,
• 17:37
  where
• 17:38
  the
• 17:38
  squeeze
• 17:39
  that
• 17:39
  we're
• 17:39
  seeing
• 17:39
  in
• 17:40
  terms
• 17:40
  of
• 17:40
  the
• 17:40
  margin
• 17:41
  pressures,
• 17:42
  declining
• 17:42
  EBITDA
• 17:43
  across
• 17:43
  the
• 17:43
  industry
• 17:44
  because
• 17:44
  of
• 17:44
  the
• 17:44
  growth
• 17:44
  of
• 17:45
  OPEX
• 17:45
  costs.
• 17:46
  So
• 17:46
  that
• 17:46
  data
• 17:46
  helps
• 17:47
  us
• 17:47
  to
• 17:47
  get
• 17:47
  those
• 17:47
  few
• 17:48
  percentage
• 17:48
  points.
• 17:49
  That
• 17:49
  doesn't
• 17:50
  look
• 17:50
  just
• 17:50
  good
• 17:50
  on
• 17:50
  the
• 17:51
  analysts
• 17:52
  sheets,
• 17:52
  but
• 17:52
  it
• 17:53
  looks,
• 17:53
  it's
• 17:54
  a
• 17:54
  question
• 17:54
  of
• 17:54
  matter
• 17:55
  of
• 17:55
  life
• 17:55
  and
• 17:55
  death
• 17:56
  for
• 17:56
  a
• 17:56
  family
• 17:56
  owned
• 17:57
  independent
• 17:58
  retail
• 17:58
  business.
• 17:59
  Data
• 18:00
  helps
• 18:00
  them
• 18:01
  to
• 18:01
  be
• 18:01
  more
• 18:01
  competitive
• 18:02
  against
• 18:02
  the
• 18:02
  big
• 18:02
  guys.
• 18:03
  Yeah.
• 18:03
  So
• 18:03
  you
• 18:03
  see
• 18:03
  AI
• 18:04
  as
• 18:04
  the
• 18:04
  equalizer
• 18:04
  then
• 18:05
  in
• 18:05
  the
• 18:05
  long
• 18:05
  term,
• 18:05
  right?
• 18:06
  You
• 18:06
  know.
• 18:07
  Yeah.
• 18:07
  And
• 18:07
  those.
• 18:07
  And
• 18:08
  even
• 18:08
  if
• 18:08
  the
• 18:08
  smaller
• 18:08
  guys.
• 18:09
  The
• 18:09
  smaller
• 18:09
  guys
• 18:09
  are
• 18:09
  probably
• 18:09
  the
• 18:10
  ones
• 18:10
  that
• 18:10
  are
• 18:10
  closer
• 18:10
  to
• 18:10
  their
• 18:11
  consumer
• 18:11
  too
• 18:11
  in
• 18:12
  understanding
• 18:12
  them.
• 18:12
  And
• 18:13
  so
• 18:13
  therefore
• 18:13
  they
• 18:14
  actually
• 18:14
  potentially
• 18:14
  have
• 18:14
  the.
• 18:15
  You've
• 18:15
  got
• 18:15
  to
• 18:15
  stop
• 18:15
  saying
• 18:15
  the
• 18:15
  smaller
• 18:16
  guys.
• 18:16
  No,
• 18:16
  I'm
• 18:17
  just.
• 18:17
  Well,
• 18:17
  I'm
• 18:18
  just
• 18:18
  saying
• 18:18
  like.
• 18:18
  But
• 18:18
  there
• 18:18
  are
• 18:18
  small
• 18:19
  guys
• 18:19
  out
• 18:19
  there.
• 18:19
  There
• 18:20
  are.
• 18:20
  Right.
• 18:20
  But
• 18:20
  I'm
• 18:21
  saying
• 18:21
  like
• 18:21
  the
• 18:21
  small
• 18:21
  guys
• 18:22
  that
• 18:22
  are
• 18:22
  out
• 18:22
  there,
• 18:22
  it
• 18:22
  actually,
• 18:22
  it's
• 18:23
  something
• 18:23
  I
• 18:23
  never
• 18:23
  thought
• 18:23
  about
• 18:23
  before.
• 18:24
  Like
• 18:24
  it
• 18:25
  actually
• 18:25
  gives
• 18:25
  them
• 18:25
  the
• 18:26
  lever
• 18:26
  to
• 18:26
  do
• 18:26
  things
• 18:27
  that
• 18:27
  they
• 18:27
  couldn't
• 18:27
  do
• 18:28
  before.
• 18:28
  You
• 18:29
  know,
• 18:29
  in
• 18:29
  addition
• 18:29
  to
• 18:30
  the
• 18:30
  larger
• 18:30
  independent
• 18:31
  retailers
• 18:31
  too.
• 18:32
  I
• 18:32
  mean,
• 18:32
  use
• 18:33
  cases
• 18:33
  in
• 18:33
  AI
• 18:33
  if
• 18:34
  you
• 18:34
  look.
• 18:34
  I
• 18:34
  mean,
• 18:34
  some
• 18:34
  of
• 18:34
  the
• 18:34
  most
• 18:35
  practical
• 18:35
  ones
• 18:36
  is
• 18:36
  in
• 18:36
  the
• 18:36
  past
• 18:37
  if
• 18:37
  you
• 18:37
  want
• 18:37
  some
• 18:37
  of
• 18:37
  the
• 18:37
  marketing
• 18:38
  materials
• 18:38
  that
• 18:38
  were
• 18:39
  being
• 18:39
  created.
• 18:40
  Right.
• 18:40
  Huge
• 18:40
  budgets,
• 18:41
  agencies,
• 18:43
  and
• 18:43
  the
• 18:43
  cost
• 18:43
  was
• 18:44
  so
• 18:44
  prohibitive.
• 18:45
  You
• 18:45
  saw
• 18:45
  our
• 18:45
  friends
• 18:46
  from
• 18:46
  l'
• 18:46
  Oreal
• 18:46
  show
• 18:47
  their
• 18:47
  example
• 18:47
  of
• 18:47
  how
• 18:47
  they
• 18:48
  quickly
• 18:48
  co
• 18:48
  created
• 18:49
  using
• 18:49
  AI
• 18:50
  campaign.
• 18:51
  Right.
• 18:51
  Well,
• 18:51
  we're
• 18:52
  doing
• 18:52
  that.
• 18:53
  And
• 18:53
  it
• 18:53
  allows
• 18:54
  even
• 18:54
  an
• 18:55
  independent
• 18:55
  retailer
• 18:56
  to
• 18:56
  take
• 18:56
  a
• 18:57
  local
• 18:57
  regional
• 18:58
  product,
• 18:58
  utilize
• 18:59
  technology
• 18:59
  with
• 19:00
  guidelines
• 19:01
  to
• 19:01
  allow
• 19:01
  them
• 19:02
  to
• 19:02
  be
• 19:02
  able
• 19:02
  to
• 19:02
  create
• 19:02
  content
• 19:04
  at
• 19:06
  zero
• 19:06
  cost,
• 19:07
  at
• 19:07
  speed,
• 19:08
  which
• 19:08
  makes
• 19:08
  it
• 19:08
  relevant
• 19:09
  to
• 19:09
  their
• 19:09
  market,
• 19:10
  to
• 19:10
  be
• 19:10
  more
• 19:10
  personalized
• 19:11
  and
• 19:11
  more
• 19:11
  adaptive.
• 19:12
  So
• 19:12
  that's
• 19:12
  really,
• 19:12
  I
• 19:13
  think,
• 19:13
  where
• 19:14
  this
• 19:14
  unlocks
• 19:15
  opportunity.
• 19:15
  Then
• 19:16
  you
• 19:16
  could
• 19:16
  do
• 19:16
  that
• 19:16
  with
• 19:16
  anything.
• 19:16
  You
• 19:17
  could
• 19:17
  do
• 19:17
  that
• 19:17
  with
• 19:17
  your
• 19:17
  pricing
• 19:17
  strategy.
• 19:18
  You
• 19:18
  could
• 19:18
  do
• 19:18
  that
• 19:18
  with
• 19:19
  anything.
• 19:19
  All
• 19:19
  right,
• 19:19
  well,
• 19:19
  let's
• 19:19
  get
• 19:19
  you
• 19:20
  out
• 19:20
  of
• 19:20
  here
• 19:20
  on
• 19:20
  this.
• 19:22
  What.
• 19:22
  So
• 19:22
  with
• 19:23
  that
• 19:23
  being
• 19:23
  your
• 19:24
  board
• 19:24
  assignment,
• 19:24
  what
• 19:25
  does
• 19:25
  success
• 19:25
  look
• 19:26
  like
• 19:26
  for
• 19:26
  you
• 19:27
  at
• 19:28
  the
• 19:28
  end
• 19:28
  of
• 19:28
  your
• 19:28
  board
• 19:28
  assignment
• 19:29
  in
• 19:29
  terms
• 19:29
  of
• 19:29
  trying
• 19:30
  to
• 19:30
  consolidate
• 19:31
  and
• 19:32
  bring
• 19:32
  all
• 19:32
  the
• 19:33
  data
• 19:33
  together
• 19:33
  across
• 19:33
  the
• 19:34
  industry?
• 19:34
  Board
• 19:34
  assignment.
• 19:35
  What
• 19:35
  do
• 19:35
  you
• 19:35
  mean
• 19:35
  from
• 19:36
  the
• 19:36
  cgf?
• 19:37
  Yeah,
• 19:37
  the
• 19:37
  CGF
• 19:37
  board
• 19:38
  assignment.
• 19:38
  Well,
• 19:39
  my
• 19:39
  board
• 19:39
  assignment
• 19:40
  from
• 19:40
  the
• 19:40
  CGF
• 19:40
  is
• 19:41
  at
• 19:41
  the
• 19:41
  moment
• 19:41
  is
• 19:41
  we
• 19:42
  are
• 19:43
  restructuring
• 19:44
  our
• 19:45
  approach
• 19:45
  obviously
• 19:46
  and
• 19:47
  evolving
• 19:48
  the
• 19:48
  function
• 19:48
  of
• 19:48
  the
• 19:49
  ddvc.
• 19:49
  Okay.
• 19:50
  And
• 19:50
  that
• 19:51
  is
• 19:51
  obviously
• 19:52
  the
• 19:52
  function
• 19:52
  that
• 19:52
  we
• 19:52
  have
• 19:53
  at
• 19:53
  the
• 19:53
  moment
• 19:53
  is
• 19:54
  to
• 19:54
  focus
• 19:55
  on
• 19:56
  use
• 19:56
  cases
• 19:57
  and
• 19:58
  applicability.
• 19:59
  Okay.
• 20:00
  And
• 20:00
  less
• 20:00
  on,
• 20:01
  let's
• 20:01
  say
• 20:01
  on
• 20:02
  the
• 20:02
  hype,
• 20:02
  but
• 20:03
  on
• 20:03
  actually
• 20:03
  looking
• 20:03
  at
• 20:04
  solutions
• 20:05
  that
• 20:06
  as
• 20:06
  we
• 20:06
  heard
• 20:07
  today,
• 20:08
  that
• 20:08
  can
• 20:08
  make
• 20:08
  a
• 20:09
  difference
• 20:09
  and
• 20:10
  at
• 20:10
  pace
• 20:10
  and
• 20:10
  quickly.
• 20:11
  So
• 20:12
  to
• 20:12
  start
• 20:13
  with
• 20:13
  that,
• 20:14
  the
• 20:15
  structure
• 20:15
  needs
• 20:15
  to
• 20:16
  be
• 20:16
  there,
• 20:16
  the
• 20:16
  standardization
• 20:17
  needs
• 20:17
  to
• 20:18
  be
• 20:18
  there
• 20:18
  regarding
• 20:18
  to
• 20:18
  the
• 20:19
  data,
• 20:19
  we
• 20:19
  need
• 20:20
  to
• 20:20
  find
• 20:20
  also
• 20:20
  the
• 20:20
  interoperability
• 20:21
  between
• 20:22
  the
• 20:23
  different
• 20:23
  functions.
• 20:24
  There's
• 20:24
  obviously
• 20:25
  a
• 20:25
  big
• 20:26
  focus
• 20:26
  at
• 20:26
  the
• 20:26
  moment
• 20:27
  from
• 20:27
  our
• 20:27
  board.
• 20:28
  The
• 20:28
  CGF
• 20:28
  in
• 20:29
  interest.
• 20:29
  AI
• 20:30
  and
• 20:30
  cyber
• 20:31
  security
• 20:31
  would
• 20:31
  be
• 20:32
  two
• 20:32
  big
• 20:32
  call
• 20:32
  outs.
• 20:33
  The
• 20:34
  knowledge
• 20:35
  that
• 20:35
  we
• 20:35
  have
• 20:35
  in
• 20:36
  that
• 20:36
  space
• 20:36
  in
• 20:36
  the
• 20:36
  industry
• 20:37
  is
• 20:37
  ever
• 20:38
  expanding.
• 20:39
  And
• 20:39
  the
• 20:39
  call
• 20:39
  at
• 20:39
  the
• 20:39
  moment
• 20:40
  is
• 20:40
  to
• 20:40
  bring
• 20:40
  that
• 20:40
  together,
• 20:41
  cut
• 20:42
  through
• 20:42
  what
• 20:42
  is
• 20:43
  Actually
• 20:43
  adding
• 20:43
  value
• 20:44
  today.
• 20:44
  What
• 20:45
  is
• 20:45
  showing
• 20:45
  promise
• 20:46
  for
• 20:46
  the
• 20:46
  future
• 20:47
  and
• 20:47
  to
• 20:47
  get
• 20:47
  the
• 20:48
  teams
• 20:48
  in
• 20:49
  a
• 20:49
  pre
• 20:49
  competitive
• 20:50
  environment
• 20:50
  to
• 20:50
  be
• 20:50
  able
• 20:51
  to
• 20:51
  share
• 20:51
  that
• 20:51
  and
• 20:52
  to
• 20:52
  develop
• 20:52
  standards
• 20:52
  around
• 20:53
  that.
• 20:53
  And
• 20:54
  that's
• 20:54
  what
• 20:55
  the
• 20:55
  co
• 20:55
  chairs
• 20:56
  have
• 20:56
  been
• 20:56
  driving
• 20:56
  all
• 20:57
  along.
• 20:57
  Continue
• 20:57
  to
• 20:58
  drive.
• 20:58
  And
• 20:58
  I
• 20:58
  think
• 20:58
  now
• 20:58
  following
• 20:59
  this
• 21:00
  summit
• 21:01
  we're
• 21:01
  going
• 21:02
  to
• 21:02
  see
• 21:02
  much
• 21:02
  more
• 21:02
  activity,
• 21:02
  even
• 21:03
  more
• 21:03
  from
• 21:03
  the
• 21:03
  coming
• 21:04
  out
• 21:04
  now,
• 21:04
  but
• 21:04
  from
• 21:04
  the
• 21:04
  DDBC.
• 21:05
  So
• 21:06
  you
• 21:06
  know,
• 21:06
  I
• 21:06
  always
• 21:06
  hear
• 21:07
  that
• 21:07
  from
• 21:07
  CEOs
• 21:07
  like
• 21:08
  yourselves,
• 21:08
  you
• 21:08
  know,
• 21:08
  talking
• 21:08
  and
• 21:09
  it
• 21:09
  sounds
• 21:09
  so
• 21:09
  intuitive
• 21:10
  and
• 21:10
  so
• 21:10
  straightforward.
• 21:11
  But
• 21:11
  yet
• 21:12
  what
• 21:12
  are
• 21:12
  the
• 21:12
  roadblocks
• 21:13
  like?
• 21:13
  What's
• 21:13
  the
• 21:13
  biggest
• 21:14
  roadblock
• 21:14
  that
• 21:14
  prevents
• 21:14
  it
• 21:15
  from
• 21:15
  happening?
• 21:16
  I
• 21:16
  think
• 21:17
  at
• 21:17
  the
• 21:18
  moment
• 21:18
  roadblocks
• 21:19
  would
• 21:19
  be
• 21:20
  that
• 21:20
  it's
• 21:21
  an
• 21:21
  ever
• 21:21
  moving
• 21:22
  feast
• 21:22
  in
• 21:23
  terms
• 21:23
  of.
• 21:23
  There
• 21:24
  is
• 21:25
  also.
• 21:25
  There's
• 21:25
  another
• 21:26
  roadblock.
• 21:26
  There
• 21:27
  is
• 21:27
  focus
• 21:28
  required
• 21:29
  which
• 21:29
  is
• 21:30
  very
• 21:30
  difficult
• 21:30
  because
• 21:31
  there's
• 21:31
  so
• 21:31
  much
• 21:32
  opportunities
• 21:32
  and
• 21:33
  everybody's
• 21:33
  chasing
• 21:34
  different
• 21:34
  parts.
• 21:35
  And
• 21:35
  then
• 21:35
  there's
• 21:36
  also.
• 21:36
  I
• 21:37
  think
• 21:37
  there's
• 21:37
  a
• 21:37
  lot
• 21:37
  of
• 21:38
  different
• 21:40
  players
• 21:40
  also
• 21:41
  within
• 21:41
  the
• 21:41
  areas
• 21:41
  of
• 21:42
  consultancies
• 21:43
  and
• 21:44
  looking
• 21:45
  to
• 21:46
  take
• 21:46
  the
• 21:46
  lead.
• 21:47
  So
• 21:48
  everybody's
• 21:48
  a
• 21:49
  constituency
• 21:49
  issue.
• 21:50
  Well,
• 21:50
  everybody's
• 21:50
  vying
• 21:51
  to,
• 21:51
  to
• 21:52
  drive
• 21:53
  this
• 21:53
  forward.
• 21:54
  That's
• 21:54
  positive.
• 21:54
  I
• 21:55
  see
• 21:55
  that.
• 21:55
  Positive.
• 21:55
  There's
• 21:56
  a
• 21:56
  lot
• 21:56
  of
• 21:56
  energy
• 21:56
  and
• 21:56
  everybody's
• 21:57
  wants
• 21:57
  to
• 21:57
  get
• 21:57
  involved
• 21:58
  behind
• 21:58
  it.
• 21:59
  But
• 21:59
  that
• 21:59
  can
• 21:59
  also
• 21:59
  create
• 22:01
  like
• 22:01
  a
• 22:01
  bit
• 22:01
  of
• 22:01
  a
• 22:01
  start
• 22:02
  of
• 22:02
  a
• 22:02
  Formula
• 22:02
  one
• 22:02
  race.
• 22:03
  Right.
• 22:03
  You're
• 22:03
  in
• 22:03
  a
• 22:04
  bit
• 22:04
  of
• 22:04
  chaos
• 22:05
  before
• 22:05
  you
• 22:05
  understand
• 22:06
  which
• 22:06
  direction
• 22:07
  we
• 22:07
  have
• 22:07
  to
• 22:07
  go.
• 22:07
  So
• 22:08
  we
• 22:08
  have
• 22:08
  to
• 22:08
  work
• 22:08
  through
• 22:08
  that
• 22:09
  together.
• 22:09
  The
• 22:10
  Consumer
• 22:10
  Goods
• 22:11
  Forum.
• 22:11
  Work
• 22:11
  together
• 22:12
  in
• 22:12
  the
• 22:12
  partnership
• 22:13
  that's
• 22:13
  underlying
• 22:14
  this
• 22:14
  organization
• 22:15
  and
• 22:15
  the
• 22:16
  success
• 22:16
  it
• 22:16
  has.
• 22:16
  And
• 22:17
  I'm
• 22:17
  confident
• 22:17
  we
• 22:17
  can
• 22:17
  do
• 22:18
  that.
• 22:18
  And
• 22:18
  I
• 22:18
  think
• 22:19
  coming
• 22:19
  out
• 22:19
  of
• 22:19
  it
• 22:19
  we
• 22:20
  will
• 22:20
  have
• 22:20
  real
• 22:21
  added
• 22:21
  value
• 22:22
  not
• 22:22
  only
• 22:23
  to
• 22:23
  the
• 22:24
  members,
• 22:24
  the
• 22:24
  manufacturers
• 22:25
  and
• 22:25
  the
• 22:25
  retailers,
• 22:26
  but
• 22:26
  ultimately
• 22:27
  we'll
• 22:27
  do
• 22:27
  better
• 22:27
  as
• 22:28
  an
• 22:28
  industry
• 22:28
  delivering
• 22:28
  for
• 22:28
  our
• 22:29
  customers.
• 22:29
  Yeah.
• 22:29
  So
• 22:29
  it
• 22:30
  sounds
• 22:30
  like
• 22:30
  you
• 22:30
  need
• 22:30
  strong
• 22:30
  wranglers.
• 22:31
  That's
• 22:31
  the
• 22:31
  word
• 22:31
  I'd
• 22:32
  use.
• 22:32
  You
• 22:32
  need
• 22:33
  guardrails
• 22:33
  and
• 22:33
  all
• 22:34
  of
• 22:34
  this.
• 22:34
  The
• 22:34
  buzzwords
• 22:34
  that
• 22:35
  one
• 22:35
  would
• 22:35
  use.
• 22:35
  But
• 22:35
  I
• 22:35
  think
• 22:35
  common
• 22:36
  sense.
• 22:36
  Common
• 22:37
  sense.
• 22:37
  Common
• 22:38
  sense
• 22:38
  and
• 22:39
  CEO
• 22:40
  participation.
• 22:40
  Yeah.
• 22:41
  To
• 22:41
  basically
• 22:42
  just
• 22:42
  make
• 22:42
  sure,
• 22:43
  let's
• 22:43
  keep
• 22:43
  moving.
• 22:43
  And
• 22:44
  I
• 22:44
  think
• 22:44
  that
• 22:44
  is
• 22:44
  one
• 22:45
  of
• 22:45
  the.
• 22:45
  That's
• 22:45
  probably
• 22:46
  the
• 22:46
  biggest
• 22:46
  positive.
• 22:47
  In
• 22:48
  my
• 22:48
  time
• 22:48
  in
• 22:48
  the
• 22:48
  cgf
• 22:49
  I
• 22:49
  have
• 22:49
  probably
• 22:50
  rarely
• 22:50
  seen
• 22:51
  one
• 22:51
  area
• 22:52
  that
• 22:52
  has
• 22:52
  so
• 22:52
  much
• 22:53
  focus
• 22:54
  than
• 22:54
  ever
• 22:54
  before
• 22:54
  in
• 22:55
  terms
• 22:55
  of
• 22:55
  technology
• 22:56
  and
• 22:56
  the
• 22:56
  transformation
• 22:57
  that
• 22:57
  is
• 22:57
  making
• 22:57
  the
• 22:57
  industry.
• 22:58
  Do
• 22:58
  you
• 22:58
  think
• 22:58
  that's
• 22:58
  particularly
• 22:59
  true
• 22:59
  of
• 22:59
  Europe?
• 22:59
  Because
• 23:00
  that's
• 23:00
  one
• 23:00
  thing
• 23:00
  I
• 23:00
  found.
• 23:00
  I've
• 23:00
  been
• 23:01
  doing
• 23:01
  this
• 23:01
  business
• 23:01
  for
• 23:01
  eight
• 23:01
  years
• 23:01
  when
• 23:02
  I
• 23:02
  come
• 23:02
  over
• 23:02
  to
• 23:02
  Europe,
• 23:02
  the
• 23:03
  CEOs
• 23:03
  in
• 23:04
  Europe
• 23:04
  talk
• 23:04
  about
• 23:05
  data
• 23:05
  and
• 23:05
  data
• 23:06
  strategy
• 23:06
  much
• 23:07
  More
• 23:07
  so
• 23:07
  than
• 23:07
  I
• 23:07
  ever
• 23:07
  hear
• 23:08
  about
• 23:08
  it
• 23:08
  in
• 23:08
  the
• 23:08
  US
• 23:08
  particularly.
• 23:09
  I
• 23:09
  wouldn't
• 23:10
  agree
• 23:10
  with
• 23:10
  that
• 23:10
  because
• 23:10
  interestingly
• 23:11
  we
• 23:11
  don't
• 23:11
  have
• 23:11
  stores
• 23:11
  in
• 23:12
  the
• 23:12
  US
• 23:12
  But
• 23:13
  I
• 23:13
  go
• 23:13
  over
• 23:13
  to
• 23:13
  the
• 23:13
  United
• 23:14
  States
• 23:14
  regularly
• 23:14
  because
• 23:14
  we're
• 23:15
  members
• 23:15
  of
• 23:15
  FMI.
• 23:15
  Yeah.
• 23:16
  So
• 23:16
  I
• 23:16
  sit
• 23:17
  with
• 23:17
  the
• 23:17
  CEOs
• 23:18
  of
• 23:18
  the
• 23:18
  businesses
• 23:19
  in
• 23:19
  the
• 23:19
  United
• 23:19
  States
• 23:21
  and
• 23:21
  there'll
• 23:22
  be
• 23:22
  some
• 23:22
  key
• 23:23
  independent
• 23:23
  operators
• 23:24
  and
• 23:24
  players
• 23:24
  there,
• 23:24
  but
• 23:25
  some
• 23:25
  of
• 23:25
  them
• 23:25
  being
• 23:25
  a
• 23:25
  very
• 23:25
  big
• 23:26
  businesses
• 23:26
  there
• 23:27
  as
• 23:27
  well,
• 23:28
  large
• 23:28
  players,
• 23:28
  the
• 23:29
  likes
• 23:29
  of
• 23:29
  the
• 23:29
  H.
• 23:29
  E.B.S.
• 23:30
  And
• 23:30
  you
• 23:30
  know,
• 23:31
  but
• 23:31
  also
• 23:31
  some
• 23:31
  of
• 23:31
  the
• 23:32
  maybe
• 23:32
  lesser
• 23:32
  known
• 23:33
  but
• 23:33
  regional
• 23:33
  players,
• 23:33
  strong
• 23:34
  business
• 23:34
  like
• 23:34
  Dorothy
• 23:35
  Lane
• 23:35
  Markets.
• 23:35
  Right.
• 23:35
  Dayton,
• 23:36
  Ohio.
• 23:36
  Yep.
• 23:37
  But
• 23:37
  if
• 23:37
  you
• 23:37
  talk
• 23:37
  to
• 23:37
  the,
• 23:38
  you
• 23:38
  know,
• 23:38
  from
• 23:39
  the
• 23:39
  very
• 23:39
  large
• 23:39
  biggest
• 23:40
  guys
• 23:40
  in
• 23:40
  Texas
• 23:41
  to
• 23:41
  you
• 23:41
  know,
• 23:42
  the
• 23:42
  regional
• 23:43
  superb
• 23:43
  specialists
• 23:44
  of
• 23:44
  Ohio.
• 23:45
  Yeah.
• 23:45
  They're
• 23:46
  all
• 23:46
  focusing
• 23:47
  on
• 23:47
  data.
• 23:47
  Okay.
• 23:47
  They're
• 23:47
  all
• 23:47
  talking
• 23:48
  about
• 23:48
  the
• 23:48
  important
• 23:48
  seller
• 23:49
  and
• 23:49
  most
• 23:49
  recently
• 23:49
  the
• 23:50
  board
• 23:50
  meeting
• 23:50
  I
• 23:50
  was
• 23:50
  at
• 23:51
  the
• 23:51
  midwinter,
• 23:51
  we
• 23:52
  dedicated
• 23:52
  also
• 23:53
  a
• 23:53
  lot
• 23:53
  of
• 23:53
  period
• 23:53
  of
• 23:54
  time
• 23:54
  onto
• 23:54
  cybersecurity
• 23:55
  and
• 23:55
  technology.
• 23:56
  So
• 23:57
  I
• 23:57
  would
• 23:57
  say
• 23:57
  I
• 23:57
  see
• 23:58
  the
• 23:58
  parity
• 23:58
  and
• 23:58
  I
• 23:59
  see
• 23:59
  the
• 23:59
  parity
• 23:59
  also
• 23:59
  in
• 24:00
  the
• 24:00
  communications
• 24:01
  that
• 24:01
  we've
• 24:01
  been
• 24:01
  having
• 24:01
  here
• 24:02
  with
• 24:02
  US
• 24:03
  and
• 24:03
  North
• 24:03
  American
• 24:04
  retailers,
• 24:05
  manufacturers
• 24:06
  as
• 24:06
  well
• 24:06
  as
• 24:06
  with
• 24:06
  with
• 24:07
  the
• 24:07
  European
• 24:07
  companies.
• 24:08
  So
• 24:08
  I
• 24:08
  think
• 24:08
  the
• 24:08
  world
• 24:09
  is
• 24:09
  all
• 24:09
  focused
• 24:09
  on
• 24:09
  this.
• 24:10
  Yeah,
• 24:10
  well,
• 24:10
  and
• 24:10
  AI
• 24:11
  is
• 24:11
  helping
• 24:11
  to
• 24:11
  spur
• 24:11
  that
• 24:11
  too.
• 24:12
  Right.
• 24:12
  You
• 24:12
  know,
• 24:12
  and
• 24:13
  so,
• 24:13
  and
• 24:13
  I
• 24:13
  think.
• 24:13
  Another
• 24:14
  part
• 24:14
  in
• 24:14
  this
• 24:14
  I
• 24:14
  know
• 24:15
  is
• 24:15
  China.
• 24:17
  How
• 24:17
  so?
• 24:17
  Well,
• 24:18
  in
• 24:18
  terms
• 24:18
  of
• 24:19
  if
• 24:20
  we
• 24:20
  used
• 24:20
  to
• 24:20
  talk,
• 24:21
  we
• 24:21
  used
• 24:21
  to
• 24:21
  go
• 24:21
  to
• 24:21
  China
• 24:21
  to
• 24:22
  share
• 24:23
  knowledge
• 24:23
  and
• 24:23
  technology
• 24:24
  to
• 24:24
  help
• 24:25
  our
• 24:25
  businesses
• 24:26
  and
• 24:26
  our
• 24:27
  independently
• 24:27
  family
• 24:28
  owned
• 24:28
  businesses
• 24:29
  that
• 24:29
  were
• 24:31
  growing
• 24:31
  in
• 24:32
  China
• 24:32
  who
• 24:32
  had
• 24:32
  to
• 24:32
  compete
• 24:33
  against
• 24:33
  the
• 24:33
  Walmarts,
• 24:34
  compete
• 24:34
  against
• 24:34
  the
• 24:34
  Metros,
• 24:35
  compete
• 24:36
  against
• 24:36
  the
• 24:36
  Aeons,
• 24:36
  had
• 24:36
  to
• 24:37
  compete
• 24:37
  against
• 24:37
  these
• 24:37
  big
• 24:37
  boxes
• 24:38
  to
• 24:39
  help
• 24:39
  them
• 24:39
  by
• 24:39
  sharing
• 24:40
  with
• 24:40
  them
• 24:40
  technologies
• 24:41
  and
• 24:42
  how
• 24:43
  SPA
• 24:43
  operates.
• 24:44
  Now
• 24:44
  it's
• 24:45
  reversed
• 24:46
  because
• 24:47
  we're
• 24:47
  talking
• 24:47
  about
• 24:48
  data
• 24:49
  technology
• 24:49
  and
• 24:50
  so
• 24:50
  forth,
• 24:50
  the
• 24:50
  learnings
• 24:51
  that
• 24:51
  we
• 24:51
  are
• 24:52
  getting
• 24:52
  and
• 24:52
  this
• 24:53
  global
• 24:53
  retail
• 24:53
  comes
• 24:54
  back.
• 24:54
  So
• 24:55
  they're
• 24:55
  acting
• 24:55
  as
• 24:55
  helping
• 24:56
  now
• 24:56
  shape
• 24:57
  our
• 24:57
  strategies
• 24:58
  internationally.
• 24:58
  Yeah,
• 24:59
  we
• 24:59
  just
• 24:59
  had
• 24:59
  Meng
• 24:59
  Nu
• 24:59
  on
• 25:00
  talking
• 25:00
  about
• 25:00
  one
• 25:00
  product,
• 25:01
  one
• 25:01
  barcode
• 25:01
  for
• 25:02
  example,
• 25:02
  that
• 25:03
  highlights
• 25:03
  what
• 25:03
  you
• 25:03
  just
• 25:03
  said.
• 25:04
  Very
• 25:04
  good.
• 25:05
  Well,
• 25:05
  thank
• 25:05
  you
• 25:05
  very
• 25:06
  much.
• 25:06
  This
• 25:06
  was
• 25:07
  a
• 25:07
  real
• 25:07
  pleasure.
• 25:07
  Chris.
• 25:08
  Yeah,
• 25:08
  it's
• 25:08
  really
• 25:08
  great
• 25:08
  chat
• 25:08
  and
• 25:09
  retail
• 25:09
  with
• 25:09
  you
• 25:09
  and
• 25:10
  technology
• 25:10
  and
• 25:10
  the
• 25:10
  future
• 25:11
  and
• 25:11
  how
• 25:11
  we
• 25:11
  should
• 25:11
  look
• 25:11
  at
• 25:11
  everything.
• 25:12
  So
• 25:12
  I
• 25:12
  appreciate
• 25:12
  it
• 25:13
  very
• 25:13
  much.
• 25:13
  So
• 25:13
  thank
• 25:14
  you
• 25:14
  Tobias
• 25:15
  and
• 25:16
  thank
• 25:16
  you
• 25:16
  to
• 25:16
  Evusion
• 25:16
  and
• 25:17
  CGF
• 25:17
  for
• 25:18
  enabling
• 25:19
  us
• 25:19
  to
• 25:19
  provide
• 25:19
  great
• 25:20
  interviews
• 25:20
  with
• 25:21
  folks
• 25:21
  like
• 25:21
  Tobias
• 25:22
  here.
• 25:22
  And
• 25:23
  as
• 25:23
  always,
• 25:23
  on
• 25:23
  behalf
• 25:24
  of
• 25:24
  all
• 25:24
  of
• 25:24
  us
• 25:24
  at
• 25:24
  Omnitalk,
• 25:25
  be
• 25:25
  careful
• 25:25
  out
• 25:25
  there.