Latest / Omni Talk Retail / Migros Türkiye Group CEO Özgür Tort on Winning the Last Mile | CGF 2026

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Migros Türkiye Group CEO Özgür Tort on Winning the Last Mile | CGF 2026 · Omni Talk Retail

• 0:00
  Hello
• 0:00
  everyone,
• 0:00
  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
• 0:03
  coming
• 0:03
  to
• 0:03
  you
• 0:03
  live
• 0:03
  once
• 0:04
  again
• 0:04
  from
• 0:04
  the
• 0:04
  Consumer
• 0:05
  Goods
• 0:05
  Forum
• 0:05
  Global
• 0:06
  Summit
• 0:06
  in
• 0:06
  Vienna,
• 0:07
  Austria
• 0:08
  from
• 0:08
  of
• 0:08
  course
• 0:08
  the
• 0:08
  CGF
• 0:09
  Leadership
• 0:09
  Studio,
• 0:10
  which
• 0:10
  is
• 0:10
  sponsored
• 0:11
  by
• 0:11
  Vuzion.
• 0:12
  Now
• 0:12
  joining
• 0:12
  me
• 0:13
  is
• 0:13
  Oscar
• 0:13
  Tort
• 0:14
  and
• 0:14
  he
• 0:14
  is
• 0:14
  the
• 0:14
  CEO
• 0:15
  of
• 0:15
  Migros,
• 0:15
  the
• 0:16
  Migros
• 0:16
  Group.
• 0:17
  Oscar,
• 0:17
  it's
• 0:18
  great
• 0:18
  to
• 0:18
  have
• 0:18
  you.
• 0:18
  Thanks
• 0:18
  for
• 0:19
  joining
• 0:19
  us
• 0:19
  today.
• 0:19
  My
• 0:20
  pleasure,
• 0:20
  my
• 0:20
  pleasure,
• 0:21
  always.
• 0:21
  Yeah.
• 0:21
  So
• 0:21
  You've
• 0:22
  been
• 0:22
  on
• 0:22
  CGF's
• 0:23
  board
• 0:23
  for
• 0:23
  a
• 0:23
  while
• 0:23
  now
• 0:24
  since
• 0:24
  what?
• 0:24
  2013?
• 0:25
  2013,
• 0:26
  yes.
• 0:26
  Wow.
• 0:27
  It's
• 0:27
  been
• 0:27
  a
• 0:27
  while.
• 0:28
  So
• 0:28
  what's
• 0:29
  happening?
• 0:29
  What's
• 0:29
  generally
• 0:29
  different
• 0:30
  about
• 0:30
  CGF
• 0:31
  now
• 0:31
  versus
• 0:32
  back
• 0:32
  then?
• 0:33
  No,
• 0:34
  I
• 0:34
  guess
• 0:34
  there
• 0:34
  is
• 0:35
  plenty
• 0:35
  of
• 0:35
  shifts
• 0:36
  in
• 0:36
  terms
• 0:36
  of
• 0:37
  organization.
• 0:37
  First
• 0:38
  of
• 0:38
  all,
• 0:38
  we
• 0:38
  are
• 0:38
  much
• 0:39
  more
• 0:39
  focused.
• 0:40
  This
• 0:40
  is
• 0:40
  very
• 0:40
  good
• 0:41
  because
• 0:41
  this
• 0:41
  is
• 0:42
  what
• 0:42
  we
• 0:42
  all
• 0:42
  target,
• 0:42
  right?
• 0:43
  I
• 0:43
  mean
• 0:43
  to
• 0:43
  have
• 0:44
  concrete
• 0:44
  outcomes.
• 0:46
  And
• 0:46
  I
• 0:46
  can
• 0:47
  easily
• 0:47
  see
• 0:47
  that
• 0:48
  this
• 0:49
  is
• 0:49
  becoming
• 0:49
  to
• 0:50
  a
• 0:50
  real
• 0:50
  reality.
• 0:51
  The
• 0:51
  topics
• 0:52
  that
• 0:52
  we
• 0:52
  are
• 0:52
  tackling
• 0:53
  is
• 0:53
  just
• 0:53
  now
• 0:54
  becoming
• 0:54
  the
• 0:54
  real
• 0:55
  outcomes
• 0:55
  of
• 0:55
  what
• 0:56
  we
• 0:56
  want
• 0:56
  to
• 0:56
  target.
• 0:56
  So
• 0:58
  if
• 0:58
  I
• 0:58
  were
• 0:58
  to
• 0:59
  go
• 0:59
  back,
• 0:59
  I
• 1:00
  guess
• 1:00
  we
• 1:00
  started
• 1:00
  with
• 1:01
  a
• 1:01
  clear
• 1:01
  agenda
• 1:02
  of
• 1:02
  ECG
• 1:03
  initiatives,
• 1:04
  I
• 1:04
  mean
• 1:04
  ESG
• 1:04
  initiatives
• 1:05
  obviously.
• 1:06
  So
• 1:07
  now
• 1:07
  that
• 1:07
  there
• 1:08
  were
• 1:08
  initiatives,
• 1:08
  now
• 1:09
  we
• 1:09
  have
• 1:09
  a
• 1:09
  great
• 1:10
  outcome
• 1:10
  on
• 1:10
  food
• 1:10
  waste,
• 1:11
  on
• 1:11
  plastic
• 1:11
  waste,
• 1:12
  especially
• 1:13
  data
• 1:14
  management.
• 1:15
  With
• 1:15
  every
• 1:15
  challenges
• 1:16
  that
• 1:16
  we
• 1:16
  have
• 1:17
  between
• 1:17
  manufacturers
• 1:18
  and
• 1:18
  retailers.
• 1:20
  But
• 1:20
  when
• 1:20
  it
• 1:20
  comes
• 1:21
  to
• 1:21
  the
• 1:21
  agenda,
• 1:22
  agendas
• 1:22
  are
• 1:22
  shifting
• 1:23
  for
• 1:23
  retailers,
• 1:24
  for
• 1:24
  manufacturers,
• 1:25
  everyone
• 1:25
  is
• 1:25
  the
• 1:25
  same
• 1:25
  challenge.
• 1:27
  We
• 1:27
  used
• 1:27
  to
• 1:27
  have,
• 1:27
  of
• 1:27
  course
• 1:28
  technology
• 1:29
  driven
• 1:29
  issues
• 1:29
  in
• 1:30
  the
• 1:30
  past
• 1:30
  as
• 1:30
  well,
• 1:31
  but
• 1:31
  now
• 1:31
  it's
• 1:32
  magnificent.
• 1:33
  I
• 1:33
  mean
• 1:33
  the
• 1:34
  whole
• 1:34
  agenda
• 1:34
  of
• 1:34
  submit
• 1:35
  is
• 1:35
  almost
• 1:35
  transformed
• 1:36
  into
• 1:37
  AI
• 1:37
  driven
• 1:38
  initiatives
• 1:39
  which
• 1:39
  are
• 1:39
  very
• 1:39
  clearly,
• 1:40
  very
• 1:41
  nice
• 1:41
  and
• 1:42
  looking
• 1:43
  forward
• 1:44
  to
• 1:44
  the
• 1:44
  future.
• 1:45
  I
• 1:46
  guess
• 1:46
  the
• 1:46
  most
• 1:46
  important
• 1:47
  outcome
• 1:47
  will
• 1:47
  be
• 1:47
  the
• 1:47
  efficiency
• 1:48
  that
• 1:48
  we
• 1:48
  will
• 1:48
  gain
• 1:49
  altogether.
• 1:50
  Yeah.
• 1:50
  The
• 1:50
  one
• 1:50
  interesting
• 1:51
  thing
• 1:51
  about
• 1:51
  this
• 1:51
  that
• 1:51
  I've
• 1:52
  been
• 1:52
  noticing
• 1:52
  at
• 1:52
  the
• 1:52
  conference,
• 1:53
  I'm
• 1:53
  curious
• 1:53
  to
• 1:53
  get
• 1:53
  your
• 1:53
  take
• 1:53
  on
• 1:54
  it
• 1:54
  too
• 1:54
  is
• 1:54
  it
• 1:54
  feels
• 1:54
  like
• 1:55
  the
• 1:55
  technology
• 1:56
  focus,
• 1:56
  and
• 1:57
  particularly
• 1:57
  because
• 1:57
  of
• 1:58
  AI
• 1:58
  is
• 1:59
  actually
• 1:59
  now
• 1:59
  melding
• 2:00
  a
• 2:00
  more
• 2:01
  congealed
• 2:03
  approach
• 2:03
  to
• 2:03
  the
• 2:04
  business
• 2:04
  across
• 2:04
  all
• 2:05
  the
• 2:05
  different
• 2:05
  things
• 2:06
  that
• 2:06
  are
• 2:06
  also
• 2:06
  on,
• 2:07
  you
• 2:07
  know,
• 2:08
  that
• 2:08
  are
• 2:08
  being
• 2:08
  discussed
• 2:09
  like
• 2:09
  supply
• 2:09
  chain
• 2:10
  resiliency,
• 2:11
  food,
• 2:11
  food
• 2:12
  and
• 2:12
  climate
• 2:13
  concerns.
• 2:14
  But
• 2:14
  AI
• 2:15
  is
• 2:15
  enabling
• 2:15
  that
• 2:15
  discussion
• 2:16
  to
• 2:16
  happen
• 2:16
  more
• 2:17
  across
• 2:17
  the
• 2:18
  board
• 2:18
  now.
• 2:18
  Would
• 2:18
  you
• 2:19
  agree
• 2:19
  with
• 2:19
  that?
• 2:19
  Exactly.
• 2:20
  So
• 2:20
  AI,
• 2:21
  you
• 2:21
  know,
• 2:21
  is
• 2:22
  a
• 2:22
  great
• 2:22
  initiative
• 2:23
  for
• 2:23
  business
• 2:23
  efficiency
• 2:24
  for
• 2:24
  everybody.
• 2:25
  Agreed.
• 2:25
  I
• 2:25
  mean
• 2:25
  that
• 2:26
  started
• 2:26
  like
• 2:26
  a
• 2:26
  pilot
• 2:27
  thing
• 2:27
  first,
• 2:28
  then
• 2:28
  you
• 2:28
  know,
• 2:28
  co
• 2:29
  piloting
• 2:29
  and
• 2:29
  now
• 2:30
  definitely
• 2:31
  autopiloting.
• 2:31
  I
• 2:31
  mean
• 2:32
  this
• 2:32
  is
• 2:32
  where
• 2:32
  we
• 2:33
  are
• 2:33
  heading
• 2:33
  for.
• 2:34
  So.
• 2:34
  But
• 2:35
  when
• 2:35
  you
• 2:35
  just
• 2:35
  cross
• 2:36
  everything
• 2:37
  across
• 2:37
  the
• 2:37
  board
• 2:37
  of
• 2:38
  the
• 2:38
  Consumer
• 2:38
  Goods
• 2:39
  Forum
• 2:39
  agenda
• 2:39
  is
• 2:40
  not
• 2:40
  just
• 2:40
  business
• 2:41
  efficiency,
• 2:41
  but
• 2:42
  also
• 2:42
  the
• 2:42
  initiatives
• 2:43
  especially
• 2:43
  that
• 2:43
  we
• 2:43
  have
• 2:44
  taken
• 2:45
  is
• 2:46
  helping
• 2:46
  everything
• 2:46
  on
• 2:47
  exchange.
• 2:48
  So
• 2:48
  everything
• 2:48
  we
• 2:49
  exchange
• 2:49
  on
• 2:50
  can
• 2:50
  name
• 2:50
  it,
• 2:51
  from
• 2:51
  data
• 2:51
  on
• 2:51
  logistics,
• 2:52
  you
• 2:53
  go
• 2:53
  down
• 2:53
  to
• 2:54
  every
• 2:55
  product,
• 2:55
  content,
• 2:56
  ingredients,
• 2:57
  health
• 2:57
  concerns.
• 2:58
  I
• 2:58
  mean
• 2:59
  when
• 2:59
  it
• 2:59
  comes
• 2:59
  to
• 3:00
  climate
• 3:00
  change,
• 3:01
  every
• 3:02
  kind
• 3:02
  of
• 3:02
  single
• 3:03
  steps
• 3:04
  that
• 3:04
  we
• 3:04
  are
• 3:04
  taking
• 3:05
  on
• 3:05
  climate
• 3:05
  change
• 3:05
  driven
• 3:06
  agendas
• 3:06
  is
• 3:07
  AI
• 3:07
  is
• 3:08
  a
• 3:08
  great
• 3:08
  helper.
• 3:09
  I
• 3:09
  mean
• 3:09
  when
• 3:09
  we
• 3:09
  start
• 3:10
  exchanging
• 3:10
  from
• 3:10
  each
• 3:11
  other,
• 3:11
  from
• 3:11
  manufacturers
• 3:12
  to
• 3:12
  retailers.
• 3:12
  Yeah.
• 3:13
  And
• 3:13
  the
• 3:13
  other
• 3:13
  thing
• 3:14
  that
• 3:14
  I
• 3:14
  remember
• 3:14
  from
• 3:15
  previous
• 3:15
  conversations
• 3:16
  I've
• 3:16
  had
• 3:16
  with
• 3:16
  folks
• 3:16
  at
• 3:16
  Migros
• 3:17
  too,
• 3:17
  you
• 3:17
  all
• 3:18
  are
• 3:18
  one
• 3:18
  of
• 3:18
  the
• 3:19
  pioneers
• 3:20
  of
• 3:20
  E
• 3:20
  commerce,
• 3:21
  right?
• 3:21
  You
• 3:22
  guys
• 3:22
  have
• 3:22
  been
• 3:22
  doing
• 3:22
  e
• 3:22
  Commerce
• 3:23
  since
• 3:23
  1997
• 3:24
  if
• 3:25
  I'm
• 3:25
  not
• 3:25
  mistaken.
• 3:26
  Correct.
• 3:26
  You
• 3:26
  were
• 3:26
  like
• 3:26
  one
• 3:26
  of
• 3:26
  the
• 3:27
  first
• 3:27
  ones
• 3:27
  to
• 3:27
  do
• 3:27
  it.
• 3:28
  And
• 3:29
  now
• 3:29
  what,
• 3:29
  20%
• 3:30
  of
• 3:30
  your
• 3:30
  volume
• 3:30
  comes
• 3:31
  through
• 3:31
  e
• 3:31
  commerce?
• 3:31
  One
• 3:32
  fifth,
• 3:32
  roughly.
• 3:32
  Even
• 3:32
  more.
• 3:33
  Even
• 3:33
  more.
• 3:33
  Even
• 3:34
  though
• 3:34
  now
• 3:34
  we
• 3:34
  headed
• 3:34
  22%.
• 3:36
  Wow.
• 3:36
  Okay,
• 3:36
  wow.
• 3:37
  Congrats.
• 3:37
  So
• 3:38
  I'm
• 3:38
  curious,
• 3:38
  like
• 3:38
  when
• 3:39
  you
• 3:39
  think
• 3:39
  about
• 3:39
  that
• 3:40
  and
• 3:40
  you
• 3:40
  think
• 3:40
  about
• 3:40
  the
• 3:40
  trajectory,
• 3:42
  how
• 3:43
  do
• 3:43
  you
• 3:43
  approach,
• 3:43
  you
• 3:44
  know,
• 3:44
  what's
• 3:44
  happening
• 3:44
  with
• 3:45
  AI
• 3:45
  right
• 3:45
  now
• 3:45
  and
• 3:46
  not
• 3:46
  get
• 3:46
  caught
• 3:47
  up
• 3:47
  in
• 3:48
  over
• 3:48
  chasing
• 3:49
  it
• 3:49
  or
• 3:49
  chasing
• 3:49
  it,
• 3:50
  you
• 3:50
  know,
• 3:50
  for
• 3:50
  digital,
• 3:51
  for
• 3:51
  the
• 3:51
  sake
• 3:51
  of
• 3:51
  digital,
• 3:51
  there's
• 3:52
  that
• 3:52
  expression.
• 3:52
  But
• 3:53
  like
• 3:53
  how
• 3:53
  do
• 3:54
  you
• 3:54
  kind
• 3:54
  of
• 3:54
  keep
• 3:54
  in
• 3:55
  mind
• 3:55
  the
• 3:55
  goals
• 3:55
  in
• 3:56
  front
• 3:56
  of
• 3:56
  you,
• 3:56
  you
• 3:56
  know,
• 3:57
  knowing
• 3:57
  that
• 3:57
  you
• 3:57
  do,
• 3:58
  you
• 3:58
  know,
• 3:58
  you
• 3:58
  do
• 3:58
  have
• 3:59
  some,
• 4:00
  some
• 4:00
  acumen
• 4:01
  in
• 4:01
  deciding
• 4:02
  when
• 4:02
  to
• 4:02
  invest
• 4:03
  and
• 4:03
  it
• 4:03
  turns
• 4:03
  out
• 4:03
  that
• 4:04
  you
• 4:04
  guys
• 4:04
  were
• 4:04
  probably
• 4:04
  there
• 4:05
  at
• 4:05
  the
• 4:05
  right
• 4:05
  time
• 4:05
  back
• 4:06
  in
• 4:06
  the
• 4:06
  day.
• 4:06
  So
• 4:06
  how
• 4:06
  do
• 4:06
  you
• 4:06
  make
• 4:07
  sure
• 4:07
  you're
• 4:07
  doing
• 4:07
  that
• 4:07
  again?
• 4:08
  Yeah,
• 4:09
  that's
• 4:09
  a
• 4:09
  very
• 4:09
  important
• 4:10
  question.
• 4:10
  First
• 4:10
  of
• 4:11
  all,
• 4:11
  there
• 4:12
  are
• 4:12
  things
• 4:12
  that
• 4:12
  we
• 4:13
  have
• 4:13
  been
• 4:13
  pioneered,
• 4:13
  but
• 4:14
  it's
• 4:14
  also
• 4:14
  some
• 4:15
  kind
• 4:15
  of
• 4:15
  prioritization.
• 4:17
  But
• 4:17
  at
• 4:17
  the
• 4:18
  same
• 4:18
  time,
• 4:18
  I
• 4:18
  have
• 4:19
  some
• 4:19
  straight
• 4:20
  comments
• 4:20
  on
• 4:21
  culture
• 4:21
  phenomenal
• 4:22
  as
• 4:22
  well,
• 4:22
  because
• 4:23
  in,
• 4:23
  in
• 4:24
  a
• 4:24
  Turkish
• 4:24
  market
• 4:25
  back
• 4:26
  to
• 4:26
  the
• 4:26
  years
• 4:26
  that
• 4:26
  we
• 4:27
  started
• 4:27
  this
• 4:27
  initiative,
• 4:29
  there
• 4:29
  is
• 4:29
  always
• 4:29
  someone
• 4:30
  who's
• 4:31
  delivering
• 4:31
  to
• 4:31
  your
• 4:32
  home,
• 4:32
  right.
• 4:32
  So
• 4:33
  that
• 4:33
  was
• 4:33
  the
• 4:33
  independent
• 4:34
  retailers
• 4:35
  very
• 4:35
  close
• 4:35
  by
• 4:36
  to
• 4:36
  the
• 4:36
  residential
• 4:36
  areas,
• 4:37
  just
• 4:37
  give
• 4:37
  them
• 4:38
  a
• 4:38
  call,
• 4:38
  they
• 4:38
  just
• 4:38
  bring
• 4:39
  you
• 4:39
  the
• 4:39
  products.
• 4:39
  Right.
• 4:40
  Larger
• 4:40
  residential
• 4:41
  areas,
• 4:41
  there
• 4:41
  is
• 4:41
  a
• 4:41
  doorman
• 4:42
  who
• 4:42
  is
• 4:42
  doing
• 4:42
  the
• 4:42
  servicing
• 4:43
  at
• 4:43
  home.
• 4:44
  So
• 4:44
  that
• 4:44
  was
• 4:44
  a
• 4:44
  bit
• 4:45
  a
• 4:45
  cultural
• 4:45
  phenomenon
• 4:46
  which
• 4:46
  triggered
• 4:47
  that
• 4:47
  initiative
• 4:47
  back
• 4:48
  in
• 4:48
  1990s.
• 4:49
  So
• 4:49
  we
• 4:50
  just
• 4:50
  put
• 4:50
  the
• 4:50
  technology
• 4:50
  on
• 4:51
  top
• 4:51
  of
• 4:51
  it
• 4:51
  with
• 4:51
  the
• 4:51
  Internet.
• 4:52
  And
• 4:53
  at
• 4:53
  the
• 4:53
  beginning
• 4:53
  it
• 4:53
  was
• 4:54
  not
• 4:54
  efficient
• 4:54
  to
• 4:55
  be
• 4:55
  honest,
• 4:55
  because
• 4:56
  it's
• 4:56
  a
• 4:56
  costly
• 4:57
  thing.
• 4:57
  But
• 4:58
  now
• 4:59
  when
• 4:59
  with
• 4:59
  all
• 4:59
  the
• 5:00
  technologies
• 5:00
  that
• 5:00
  we
• 5:00
  are
• 5:01
  deploying,
• 5:02
  especially
• 5:02
  the
• 5:03
  speed
• 5:03
  of
• 5:03
  and
• 5:03
  the
• 5:04
  content
• 5:04
  that
• 5:04
  we
• 5:04
  are
• 5:04
  sharing
• 5:05
  with
• 5:05
  the
• 5:05
  shoppers
• 5:06
  and
• 5:06
  the
• 5:06
  quality
• 5:06
  of
• 5:07
  the
• 5:07
  image
• 5:07
  starting
• 5:07
  and
• 5:08
  all
• 5:08
  the
• 5:09
  attributes
• 5:09
  of
• 5:09
  the
• 5:09
  products
• 5:10
  that
• 5:10
  we
• 5:10
  can
• 5:10
  share,
• 5:11
  it's
• 5:11
  even
• 5:11
  better
• 5:12
  than
• 5:12
  the
• 5:12
  in
• 5:12
  store
• 5:13
  experience
• 5:13
  because
• 5:14
  you
• 5:14
  can
• 5:14
  learn
• 5:14
  Better
• 5:15
  about
• 5:15
  the
• 5:15
  product
• 5:16
  when
• 5:17
  you
• 5:17
  just
• 5:17
  check
• 5:17
  it
• 5:17
  on
• 5:17
  your
• 5:18
  simple
• 5:18
  application.
• 5:19
  So
• 5:20
  QR
• 5:20
  codes
• 5:20
  and
• 5:21
  everything,
• 5:21
  all
• 5:21
  this
• 5:21
  dynamic
• 5:23
  information
• 5:23
  exchange
• 5:24
  is
• 5:24
  helping.
• 5:24
  And
• 5:25
  this
• 5:25
  is
• 5:25
  all
• 5:25
  with
• 5:26
  technology.
• 5:26
  I
• 5:26
  mean
• 5:26
  the
• 5:27
  data
• 5:27
  integrity,
• 5:28
  the
• 5:28
  foundation
• 5:29
  of
• 5:29
  data
• 5:29
  is
• 5:29
  helping
• 5:30
  us
• 5:30
  to
• 5:30
  deliver
• 5:31
  all
• 5:31
  the
• 5:31
  data
• 5:32
  information
• 5:32
  relevant
• 5:33
  with
• 5:33
  the
• 5:33
  shoppers
• 5:34
  necessities
• 5:34
  about
• 5:35
  that
• 5:35
  simple
• 5:35
  product.
• 5:36
  They
• 5:36
  can
• 5:36
  easily
• 5:36
  compare,
• 5:37
  they
• 5:37
  can
• 5:37
  easily
• 5:37
  filter.
• 5:38
  So
• 5:39
  next
• 5:39
  to
• 5:39
  it,
• 5:39
  of
• 5:39
  course
• 5:39
  the
• 5:40
  technology
• 5:40
  which
• 5:40
  drives
• 5:40
  with
• 5:41
  AI
• 5:41
  or
• 5:41
  just
• 5:41
  the
• 5:42
  technology
• 5:42
  itself
• 5:42
  on
• 5:43
  the
• 5:43
  automation,
• 5:44
  because
• 5:44
  this
• 5:44
  cost,
• 5:45
  you
• 5:45
  have
• 5:45
  to
• 5:45
  somehow
• 5:46
  tackle
• 5:46
  it.
• 5:47
  So
• 5:47
  that's
• 5:48
  the
• 5:48
  picking
• 5:48
  cost,
• 5:48
  that's
• 5:49
  the
• 5:49
  last
• 5:49
  mile
• 5:49
  cost.
• 5:50
  So
• 5:51
  everything
• 5:51
  we
• 5:51
  started
• 5:52
  with
• 5:52
  the
• 5:53
  home
• 5:53
  based
• 5:54
  delivery
• 5:55
  and
• 5:55
  the
• 5:56
  idea
• 5:56
  is
• 5:56
  just
• 5:56
  stores
• 5:57
  to
• 5:57
  be
• 5:57
  used
• 5:57
  as
• 5:58
  a
• 5:58
  picking
• 5:59
  destination.
• 6:00
  So
• 6:00
  when
• 6:01
  we
• 6:01
  started
• 6:01
  the
• 6:01
  whole
• 6:02
  operation,
• 6:02
  the
• 6:02
  challenge
• 6:03
  was
• 6:03
  always
• 6:04
  we
• 6:04
  wanted
• 6:04
  to
• 6:05
  achieve
• 6:05
  that
• 6:05
  the
• 6:06
  household
• 6:06
  penetration
• 6:06
  in
• 6:07
  the
• 6:07
  country
• 6:07
  and
• 6:08
  the
• 6:08
  stores
• 6:08
  are
• 6:08
  the
• 6:08
  best
• 6:09
  thing.
• 6:09
  So
• 6:10
  this
• 6:10
  is
• 6:10
  why
• 6:10
  we
• 6:10
  call
• 6:11
  in
• 6:11
  our
• 6:11
  digital
• 6:12
  assets
• 6:13
  and
• 6:13
  muscles.
• 6:14
  Stores
• 6:14
  are
• 6:14
  the
• 6:14
  growth
• 6:15
  engine
• 6:15
  of
• 6:15
  our
• 6:16
  digital
• 6:16
  growth.
• 6:17
  Okay.
• 6:17
  Because
• 6:18
  as
• 6:18
  much
• 6:18
  as
• 6:18
  store
• 6:19
  we
• 6:19
  have
• 6:19
  penetrated
• 6:19
  in
• 6:20
  the
• 6:20
  country,
• 6:20
  that's
• 6:21
  the
• 6:21
  penetration
• 6:21
  of
• 6:22
  digital
• 6:22
  commerce
• 6:22
  as
• 6:23
  well.
• 6:23
  So
• 6:24
  now
• 6:24
  we
• 6:24
  have
• 6:24
  more
• 6:24
  than
• 6:25
  3,800
• 6:26
  stores
• 6:26
  and
• 6:27
  more
• 6:27
  than
• 6:28
  half
• 6:28
  of
• 6:28
  them
• 6:28
  are
• 6:28
  used
• 6:29
  as
• 6:29
  a
• 6:29
  hub
• 6:30
  which
• 6:30
  justified
• 6:31
  the
• 6:31
  cost
• 6:31
  of
• 6:32
  last
• 6:32
  mile.
• 6:32
  Okay.
• 6:33
  So
• 6:33
  that
• 6:34
  helped
• 6:34
  us
• 6:34
  in
• 6:34
  terms
• 6:34
  of
• 6:35
  technology
• 6:36
  and
• 6:36
  now
• 6:36
  the
• 6:36
  picking
• 6:37
  cost.
• 6:37
  Picking
• 6:37
  cost
• 6:38
  is
• 6:38
  just,
• 6:38
  you
• 6:38
  know,
• 6:39
  it's
• 6:39
  a
• 6:39
  human
• 6:39
  intensive
• 6:40
  thing.
• 6:40
  But
• 6:41
  now
• 6:41
  we
• 6:41
  manage
• 6:42
  after
• 6:42
  all
• 6:42
  this
• 6:42
  automation
• 6:43
  robotics
• 6:44
  that
• 6:44
  we
• 6:44
  implemented,
• 6:45
  we
• 6:45
  can
• 6:45
  pick
• 6:46
  at
• 6:46
  the
• 6:46
  same
• 6:46
  time
• 6:47
  four
• 6:47
  orders
• 6:48
  in
• 6:48
  six
• 6:49
  minutes.
• 6:49
  Oh
• 6:49
  wow.
• 6:50
  So
• 6:50
  that's
• 6:50
  the
• 6:50
  picking
• 6:51
  technology
• 6:51
  that
• 6:51
  we
• 6:51
  have
• 6:52
  right
• 6:52
  now
• 6:52
  back
• 6:52
  in
• 6:52
  the
• 6:52
  store.
• 6:53
  Yeah,
• 6:53
  so
• 6:53
  that's
• 6:54
  the
• 6:54
  backward
• 6:54
  of
• 6:54
  this.
• 6:55
  We
• 6:55
  call
• 6:55
  them
• 6:55
  mini
• 6:55
  duck
• 6:56
  stores.
• 6:56
  Okay,
• 6:56
  okay,
• 6:57
  okay,
• 6:57
  okay.
• 6:58
  So
• 6:58
  that
• 6:58
  two
• 6:58
  things
• 6:59
  together
• 6:59
  combined.
• 7:00
  Now
• 7:01
  I'm
• 7:01
  really
• 7:01
  proud
• 7:01
  to
• 7:02
  express
• 7:02
  this
• 7:02
  is
• 7:02
  a
• 7:03
  first
• 7:03
  of
• 7:04
  all
• 7:04
  profit
• 7:04
  driven
• 7:05
  initiative
• 7:05
  now.
• 7:06
  Right.
• 7:06
  So
• 7:06
  second
• 7:07
  far
• 7:08
  most
• 7:08
  important,
• 7:08
  our
• 7:09
  store
• 7:09
  penetration
• 7:10
  is
• 7:10
  reaching
• 7:10
  100%
• 7:11
  of
• 7:11
  the
• 7:11
  households
• 7:12
  in
• 7:12
  the
• 7:12
  country.
• 7:12
  Okay.
• 7:13
  Whereas
• 7:13
  digitally
• 7:15
  and
• 7:15
  with
• 7:15
  the
• 7:15
  last
• 7:16
  mile
• 7:16
  efficiencies,
• 7:17
  we
• 7:17
  can
• 7:17
  reach
• 7:18
  them
• 7:18
  84%
• 7:19
  of
• 7:19
  the
• 7:19
  households
• 7:20
  of
• 7:20
  the
• 7:20
  Turkish
• 7:21
  population.
• 7:22
  So
• 7:22
  that's
• 7:23
  by
• 7:23
  far
• 7:23
  deeply
• 7:24
  expanded.
• 7:25
  Right.
• 7:25
  And
• 7:26
  I
• 7:26
  mean
• 7:26
  the
• 7:27
  efficiencies
• 7:27
  that
• 7:27
  we
• 7:28
  gained
• 7:28
  helped
• 7:28
  us
• 7:29
  to
• 7:29
  deliver
• 7:30
  goods
• 7:31
  less
• 7:31
  than
• 7:32
  three
• 7:32
  hours
• 7:32
  on
• 7:33
  80%
• 7:34
  of
• 7:34
  the
• 7:34
  orders.
• 7:34
  Wow.
• 7:35
  Okay,
• 7:35
  so
• 7:35
  you
• 7:35
  guys
• 7:36
  are
• 7:36
  going
• 7:36
  that
• 7:36
  quickly?
• 7:36
  Yeah,
• 7:37
  that's
• 7:37
  that
• 7:37
  quick.
• 7:38
  And
• 7:38
  even
• 7:38
  further,
• 7:39
  we
• 7:39
  have
• 7:39
  this
• 7:39
  instant
• 7:40
  deliveries
• 7:40
  helping
• 7:41
  us
• 7:41
  with
• 7:41
  limited
• 7:42
  assortment.
• 7:42
  But
• 7:43
  it's
• 7:43
  very
• 7:43
  helpful.
• 7:44
  In
• 7:44
  30
• 7:44
  minutes
• 7:45
  we
• 7:45
  are
• 7:45
  almost
• 7:45
  done.
• 7:46
  It's
• 7:46
  40,
• 7:46
  45
• 7:47
  minutes
• 7:47
  of
• 7:47
  our
• 7:47
  orders.
• 7:48
  So
• 7:49
  which
• 7:49
  means
• 7:49
  that
• 7:50
  the
• 7:50
  speed
• 7:50
  is
• 7:50
  there,
• 7:51
  automation
• 7:52
  is
• 7:52
  there
• 7:52
  and
• 7:52
  the
• 7:53
  technology
• 7:53
  which
• 7:53
  helps
• 7:54
  in
• 7:54
  terms
• 7:54
  of
• 7:55
  data
• 7:55
  exchange
• 7:55
  is
• 7:56
  the
• 7:56
  key.
• 7:56
  What
• 7:56
  is
• 7:57
  this
• 7:57
  roadmap?
• 7:58
  Wow,
• 7:58
  wow.
• 7:58
  Yeah,
• 7:58
  I'm
• 7:59
  seeing
• 7:59
  that
• 7:59
  trend
• 7:59
  too.
• 7:59
  Just
• 7:59
  people
• 8:00
  trying
• 8:00
  to
• 8:00
  get
• 8:00
  faster,
• 8:01
  just
• 8:01
  trying
• 8:01
  to
• 8:01
  get
• 8:01
  it
• 8:01
  to
• 8:02
  people
• 8:02
  faster
• 8:02
  and
• 8:02
  using
• 8:03
  AI
• 8:03
  and
• 8:03
  technology
• 8:03
  to
• 8:04
  make
• 8:04
  it
• 8:04
  happen.
• 8:05
  So,
• 8:05
  you
• 8:05
  know,
• 8:05
  E
• 8:05
  commerce
• 8:06
  is
• 8:06
  one
• 8:06
  side
• 8:06
  of
• 8:06
  the
• 8:06
  equation
• 8:07
  though
• 8:07
  too.
• 8:07
  And
• 8:07
  I
• 8:07
  want
• 8:07
  to
• 8:07
  make
• 8:08
  sure
• 8:08
  for
• 8:08
  our
• 8:08
  audience
• 8:08
  back
• 8:08
  home
• 8:09
  particularly
• 8:09
  maybe
• 8:09
  that's
• 8:10
  not
• 8:10
  as
• 8:10
  familiar
• 8:10
  with
• 8:10
  the
• 8:10
  European
• 8:11
  landscape.
• 8:12
  You
• 8:12
  all
• 8:12
  operate
• 8:13
  a
• 8:13
  lot
• 8:13
  of
• 8:13
  different
• 8:13
  stores
• 8:14
  too.
• 8:14
  And
• 8:14
  there's
• 8:15
  a
• 8:15
  lot
• 8:15
  under
• 8:15
  quote
• 8:15
  unquote,
• 8:16
  the
• 8:17
  retail
• 8:17
  verse
• 8:17
  too.
• 8:18
  So
• 8:18
  can
• 8:18
  you
• 8:18
  talk
• 8:18
  about
• 8:19
  the
• 8:19
  store
• 8:19
  formats
• 8:20
  that
• 8:20
  you
• 8:20
  operate
• 8:20
  and
• 8:21
  also
• 8:21
  what
• 8:21
  also
• 8:22
  comprises
• 8:22
  the
• 8:22
  retail
• 8:23
  verse
• 8:23
  as
• 8:23
  you,
• 8:24
  as
• 8:24
  you
• 8:24
  oversee
• 8:25
  it?
• 8:26
  I
• 8:26
  guess
• 8:26
  it's
• 8:26
  an
• 8:27
  evolution
• 8:27
  of
• 8:27
  retail
• 8:28
  which
• 8:28
  has
• 8:28
  happened
• 8:29
  globally.
• 8:29
  It's
• 8:30
  happened
• 8:30
  in
• 8:30
  the
• 8:30
  Turkish
• 8:31
  market
• 8:31
  as
• 8:31
  well.
• 8:31
  We
• 8:31
  started
• 8:31
  back
• 8:32
  in
• 8:33
  1950s
• 8:34
  and
• 8:35
  that's
• 8:35
  a
• 8:35
  very
• 8:35
  interesting
• 8:36
  initiative.
• 8:36
  The
• 8:37
  first
• 8:37
  start
• 8:37
  of
• 8:37
  our
• 8:38
  operations
• 8:38
  was
• 8:38
  with
• 8:39
  trucks.
• 8:39
  So
• 8:40
  trucks
• 8:40
  were,
• 8:40
  you
• 8:41
  know,
• 8:41
  visiting
• 8:42
  the
• 8:42
  simple
• 8:43
  districts
• 8:43
  of
• 8:43
  the
• 8:43
  city.
• 8:44
  Right.
• 8:44
  So
• 8:44
  now
• 8:45
  we
• 8:45
  are
• 8:45
  again
• 8:46
  with
• 8:46
  trucks
• 8:46
  now
• 8:47
  servicing
• 8:47
  to
• 8:47
  do
• 8:47
  stores
• 8:48
  from
• 8:48
  stores
• 8:48
  to
• 8:49
  the
• 8:49
  household.
• 8:49
  So
• 8:50
  back
• 8:50
  to
• 8:50
  the
• 8:50
  origins,
• 8:51
  I
• 8:51
  will
• 8:51
  call
• 8:51
  it
• 8:51
  so.
• 8:52
  But
• 8:52
  meanwhile,
• 8:52
  of
• 8:52
  course
• 8:52
  we
• 8:53
  started
• 8:53
  with
• 8:53
  supermarkets,
• 8:54
  small
• 8:54
  sized,
• 8:55
  and
• 8:55
  then
• 8:55
  of
• 8:55
  course
• 8:56
  with
• 8:56
  the
• 8:56
  variety
• 8:57
  exchange,
• 8:57
  you
• 8:57
  know,
• 8:57
  manufacturers
• 8:58
  capabilities,
• 8:59
  a
• 8:59
  lot
• 8:59
  of
• 8:59
  brands.
• 9:00
  We
• 9:00
  extended
• 9:01
  the
• 9:01
  store
• 9:01
  sizes
• 9:02
  and
• 9:02
  the
• 9:02
  store
• 9:03
  sizes
• 9:03
  returned
• 9:04
  into
• 9:04
  even
• 9:04
  hypermarkets.
• 9:05
  We
• 9:05
  are
• 9:05
  still
• 9:05
  running
• 9:05
  hypermarkets.
• 9:06
  So
• 9:07
  supermarkets,
• 9:08
  hypermarkets
• 9:08
  are
• 9:09
  kind
• 9:09
  of
• 9:09
  an
• 9:09
  evolution.
• 9:10
  But
• 9:10
  in
• 9:11
  time,
• 9:11
  of
• 9:11
  course,
• 9:11
  larger,
• 9:12
  the
• 9:12
  cities,
• 9:13
  higher
• 9:13
  the
• 9:13
  traffic
• 9:14
  issues
• 9:14
  and
• 9:14
  you
• 9:14
  know,
• 9:15
  getting
• 9:15
  to
• 9:16
  the
• 9:16
  locations
• 9:16
  is
• 9:17
  getting
• 9:17
  more
• 9:17
  difficult.
• 9:18
  So
• 9:18
  then
• 9:19
  becomes
• 9:19
  again
• 9:19
  back
• 9:19
  to
• 9:20
  convenience.
• 9:20
  So
• 9:20
  now
• 9:20
  in
• 9:21
  the
• 9:21
  recent
• 9:21
  years,
• 9:21
  we
• 9:21
  are
• 9:22
  opening
• 9:22
  more
• 9:22
  convenience
• 9:23
  for
• 9:23
  formats
• 9:24
  than
• 9:24
  the
• 9:24
  larger
• 9:24
  supermarkets.
• 9:25
  Okay,
• 9:26
  so
• 9:26
  again
• 9:27
  back
• 9:27
  to
• 9:27
  the
• 9:27
  necessity
• 9:28
  of
• 9:28
  the
• 9:28
  shoppers.
• 9:29
  We
• 9:29
  used
• 9:29
  to
• 9:29
  shop
• 9:30
  weekly,
• 9:30
  right.
• 9:30
  In
• 9:30
  the
• 9:31
  past.
• 9:31
  Now
• 9:31
  it's
• 9:31
  a
• 9:32
  occasional
• 9:32
  shopping
• 9:33
  as
• 9:33
  well.
• 9:33
  So
• 9:34
  the
• 9:34
  best
• 9:34
  thing,
• 9:34
  what
• 9:35
  we
• 9:35
  call
• 9:35
  ourselves,
• 9:36
  I
• 9:36
  guess
• 9:36
  multi
• 9:37
  format
• 9:37
  understanding
• 9:38
  with
• 9:38
  an
• 9:39
  omnichannel
• 9:39
  perspective,
• 9:40
  but
• 9:41
  always
• 9:41
  a
• 9:41
  next
• 9:41
  generation
• 9:42
  retailer
• 9:42
  with
• 9:43
  technology.
• 9:43
  So
• 9:43
  this
• 9:44
  is
• 9:44
  what
• 9:44
  we
• 9:44
  want
• 9:44
  to
• 9:44
  propose
• 9:45
  as
• 9:45
  a
• 9:46
  kind
• 9:46
  of
• 9:46
  engraft
• 9:46
  engine
• 9:47
  for
• 9:47
  us.
• 9:48
  So
• 9:48
  all
• 9:48
  these
• 9:48
  formats
• 9:49
  now
• 9:50
  is
• 9:50
  helping
• 9:50
  us
• 9:50
  in
• 9:51
  terms
• 9:51
  of
• 9:51
  both
• 9:51
  penetration
• 9:52
  of
• 9:52
  shopping.
• 9:53
  Instance.
• 9:54
  So
• 9:54
  if
• 9:55
  you
• 9:55
  want
• 9:55
  to
• 9:55
  have
• 9:55
  a
• 9:55
  top
• 9:55
  up
• 9:56
  shopping,
• 9:56
  it's
• 9:56
  easy
• 9:57
  just
• 9:57
  with
• 9:57
  a
• 9:58
  call
• 9:58
  or
• 9:58
  just
• 9:59
  ordering.
• 10:00
  If
• 10:00
  it's
• 10:00
  a
• 10:00
  full
• 10:00
  weekly
• 10:01
  shopping,
• 10:01
  you
• 10:01
  have
• 10:02
  to
• 10:02
  have
• 10:02
  all
• 10:02
  these
• 10:03
  physical
• 10:03
  formats
• 10:04
  at
• 10:04
  the
• 10:04
  same
• 10:04
  time
• 10:05
  full
• 10:05
  of
• 10:05
  baskets.
• 10:06
  So
• 10:06
  that's
• 10:07
  kind
• 10:07
  of
• 10:07
  an
• 10:07
  evolution
• 10:08
  of
• 10:08
  retail.
• 10:09
  But
• 10:09
  when
• 10:10
  you
• 10:10
  do
• 10:10
  this,
• 10:10
  I
• 10:10
  mean
• 10:11
  sometimes
• 10:11
  you
• 10:11
  need
• 10:11
  a
• 10:12
  kind
• 10:12
  of
• 10:12
  a
• 10:12
  focused
• 10:13
  format
• 10:13
  because
• 10:14
  some
• 10:14
  of
• 10:14
  the
• 10:14
  shoppers
• 10:15
  want
• 10:15
  much
• 10:15
  better
• 10:15
  comfort.
• 10:16
  So
• 10:17
  that
• 10:17
  comfort
• 10:17
  is
• 10:17
  maybe
• 10:18
  less
• 10:18
  people
• 10:19
  in
• 10:19
  the
• 10:19
  store,
• 10:19
  but
• 10:20
  very
• 10:20
  comfortable
• 10:20
  experience.
• 10:21
  So
• 10:21
  that
• 10:22
  is
• 10:22
  why
• 10:22
  we
• 10:22
  have
• 10:22
  kind
• 10:23
  of
• 10:23
  an
• 10:23
  upscale
• 10:23
  format
• 10:24
  which
• 10:24
  is
• 10:24
  micro
• 10:25
  center,
• 10:25
  which
• 10:25
  is
• 10:26
  just
• 10:26
  delivering
• 10:27
  a
• 10:27
  better
• 10:27
  business
• 10:28
  terms
• 10:28
  even
• 10:29
  when
• 10:29
  we
• 10:29
  compare
• 10:29
  in
• 10:30
  terms
• 10:30
  of
• 10:30
  returns
• 10:30
  and
• 10:30
  everything.
• 10:31
  So
• 10:32
  the
• 10:33
  necessities
• 10:33
  are
• 10:34
  evolving.
• 10:34
  The
• 10:34
  formats
• 10:35
  I
• 10:35
  call
• 10:35
  it.
• 10:35
  Yeah,
• 10:36
  I
• 10:36
  mean
• 10:36
  we
• 10:36
  have
• 10:36
  a
• 10:36
  lot
• 10:36
  of
• 10:37
  pet
• 10:37
  lovers
• 10:37
  nowadays.
• 10:38
  We
• 10:38
  have
• 10:38
  a
• 10:38
  pet
• 10:38
  format.
• 10:39
  So
• 10:39
  evolving.
• 10:40
  Right?
• 10:40
  Health
• 10:41
  and
• 10:41
  beauty
• 10:41
  is
• 10:41
  evolving.
• 10:42
  So
• 10:42
  we
• 10:42
  have
• 10:42
  health
• 10:42
  and
• 10:43
  beauty
• 10:43
  for.
• 10:43
  So
• 10:44
  this
• 10:44
  is
• 10:44
  a
• 10:44
  little
• 10:44
  bit
• 10:45
  we
• 10:45
  want
• 10:45
  to
• 10:46
  drive
• 10:46
  shoppers
• 10:47
  necessities.
• 10:48
  This
• 10:48
  is
• 10:48
  really
• 10:48
  interesting.
• 10:49
  This
• 10:49
  actually
• 10:49
  harkens
• 10:50
  back
• 10:50
  to
• 10:50
  a
• 10:50
  conversation
• 10:50
  we
• 10:51
  were
• 10:51
  having
• 10:51
  yesterday
• 10:52
  about
• 10:52
  the
• 10:52
  penetration
• 10:53
  of
• 10:53
  E
• 10:53
  commerce
• 10:54
  in
• 10:54
  the
• 10:54
  United
• 10:54
  States.
• 10:55
  And
• 10:56
  the
• 10:56
  premise
• 10:56
  of
• 10:57
  the
• 10:57
  conversation
• 10:57
  was
• 10:58
  that
• 10:58
  E
• 10:58
  commerce
• 10:59
  is
• 10:59
  actually
• 10:59
  a
• 10:59
  much
• 11:00
  more
• 11:00
  budget
• 11:00
  friendly
• 11:01
  way
• 11:01
  to
• 11:01
  shop.
• 11:01
  And
• 11:02
  so
• 11:02
  the
• 11:03
  people
• 11:03
  that
• 11:04
  I
• 11:04
  was
• 11:04
  speaking
• 11:04
  with,
• 11:05
  they
• 11:05
  were
• 11:05
  saying
• 11:05
  that
• 11:06
  I
• 11:06
  use
• 11:06
  it
• 11:06
  for
• 11:06
  that
• 11:07
  reason.
• 11:07
  And
• 11:07
  so
• 11:07
  I
• 11:07
  try
• 11:08
  to
• 11:08
  do
• 11:08
  as
• 11:08
  much
• 11:08
  of
• 11:08
  my
• 11:08
  full
• 11:09
  grocery
• 11:09
  shopping
• 11:09
  trip
• 11:10
  as
• 11:10
  I
• 11:10
  can
• 11:10
  because
• 11:11
  it
• 11:11
  saves
• 11:11
  me
• 11:11
  money.
• 11:12
  With
• 11:12
  22%
• 11:13
  penetration,
• 11:14
  is
• 11:15
  that
• 11:15
  kind
• 11:15
  of
• 11:15
  what
• 11:16
  you're
• 11:16
  seeing
• 11:17
  overall?
• 11:17
  And
• 11:17
  then
• 11:17
  you're
• 11:18
  having
• 11:18
  to
• 11:18
  now
• 11:18
  adjust
• 11:19
  the
• 11:19
  formats
• 11:20
  too
• 11:20
  to
• 11:21
  be
• 11:21
  more
• 11:21
  about
• 11:21
  the
• 11:22
  fill
• 11:22
  ins
• 11:22
  that
• 11:22
  maybe
• 11:23
  got
• 11:23
  forgotten
• 11:23
  or
• 11:24
  lost
• 11:25
  or
• 11:25
  not
• 11:26
  ordered
• 11:26
  in
• 11:26
  that
• 11:26
  initial
• 11:27
  process.
• 11:28
  Is
• 11:28
  that
• 11:28
  a
• 11:28
  good
• 11:28
  way
• 11:29
  to
• 11:29
  summarize
• 11:29
  it
• 11:29
  or
• 11:29
  am
• 11:29
  I
• 11:30
  oversimplifying
• 11:31
  it?
• 11:31
  No,
• 11:31
  that's
• 11:31
  a
• 11:32
  very
• 11:32
  valid
• 11:32
  point
• 11:33
  because
• 11:33
  this
• 11:33
  is
• 11:33
  the
• 11:34
  way
• 11:34
  we
• 11:34
  review
• 11:34
  the
• 11:35
  business
• 11:35
  model.
• 11:35
  Okay.
• 11:36
  Because
• 11:36
  it's
• 11:36
  an
• 11:36
  evolution.
• 11:37
  You
• 11:37
  have
• 11:37
  stores,
• 11:38
  you
• 11:38
  have
• 11:38
  expansion
• 11:39
  and
• 11:39
  you
• 11:39
  want
• 11:39
  to
• 11:40
  capture
• 11:40
  also
• 11:40
  the,
• 11:41
  you
• 11:41
  know,
• 11:41
  the
• 11:42
  way
• 11:42
  you
• 11:42
  want
• 11:42
  to
• 11:42
  expand
• 11:43
  is
• 11:43
  kind
• 11:43
  of
• 11:44
  an
• 11:44
  omnichannel
• 11:44
  view
• 11:44
  as
• 11:45
  well.
• 11:45
  Where
• 11:45
  you
• 11:46
  need
• 11:46
  to
• 11:46
  open
• 11:46
  more
• 11:46
  stores
• 11:47
  is
• 11:47
  also
• 11:47
  now
• 11:48
  dependent
• 11:48
  on
• 11:48
  the
• 11:49
  omni
• 11:49
  channel
• 11:49
  model.
• 11:50
  Because
• 11:50
  if
• 11:50
  you
• 11:51
  want
• 11:51
  to
• 11:51
  target
• 11:51
  that
• 11:51
  destination,
• 11:52
  it's
• 11:52
  not
• 11:52
  shouldn't
• 11:53
  be
• 11:53
  limited
• 11:54
  with
• 11:54
  the
• 11:54
  only
• 11:54
  catchment
• 11:55
  of
• 11:55
  the
• 11:55
  store,
• 11:55
  but
• 11:56
  you
• 11:56
  also
• 11:56
  deliver
• 11:56
  from
• 11:57
  that
• 11:57
  store.
• 11:58
  So
• 11:58
  that
• 11:58
  is
• 11:58
  why
• 11:58
  the
• 11:58
  expansion
• 11:59
  model
• 11:59
  even
• 12:00
  is
• 12:00
  reviewed.
• 12:01
  Okay.
• 12:01
  So
• 12:01
  for
• 12:02
  that
• 12:02
  reason
• 12:02
  now
• 12:02
  we
• 12:03
  are
• 12:03
  having
• 12:03
  a
• 12:04
  significant
• 12:05
  transformation
• 12:06
  of
• 12:06
  course
• 12:06
  about
• 12:07
  the
• 12:07
  technology
• 12:07
  within
• 12:08
  the
• 12:08
  store
• 12:08
  because
• 12:08
  the
• 12:09
  store
• 12:09
  became
• 12:10
  in
• 12:10
  large
• 12:10
  cities,
• 12:11
  in
• 12:11
  some
• 12:12
  specific
• 12:12
  destinations,
• 12:13
  we
• 12:13
  have
• 12:14
  50%
• 12:14
  of
• 12:14
  the
• 12:15
  stores
• 12:15
  turnover
• 12:15
  coming
• 12:16
  from
• 12:16
  online.
• 12:16
  Yeah.
• 12:17
  So
• 12:17
  that
• 12:17
  store
• 12:17
  has
• 12:17
  to
• 12:18
  be
• 12:18
  transformed
• 12:18
  in
• 12:19
  terms
• 12:19
  of
• 12:19
  layout,
• 12:19
  in
• 12:20
  terms
• 12:20
  of
• 12:20
  service.
• 12:21
  So
• 12:21
  that
• 12:21
  is
• 12:21
  why
• 12:22
  it's
• 12:22
  a
• 12:22
  continuing
• 12:23
  transformation.
• 12:24
  And
• 12:24
  there
• 12:24
  are
• 12:24
  some
• 12:25
  stores
• 12:25
  that
• 12:25
  we
• 12:25
  have
• 12:25
  to
• 12:25
  do
• 12:26
  instant
• 12:26
  deliveries
• 12:27
  very
• 12:27
  rapidly,
• 12:28
  just
• 12:28
  in
• 12:28
  30
• 12:28
  minutes.
• 12:29
  So
• 12:29
  that
• 12:29
  store
• 12:30
  requirement
• 12:30
  is
• 12:30
  also
• 12:30
  shifted.
• 12:31
  So
• 12:31
  these
• 12:32
  are
• 12:32
  the
• 12:32
  transformation
• 12:33
  continuing.
• 12:33
  Okay.
• 12:34
  Wow.
• 12:34
  And
• 12:34
  you
• 12:34
  guys
• 12:34
  are
• 12:34
  just
• 12:34
  on
• 12:35
  the
• 12:35
  front
• 12:35
  end
• 12:35
  of
• 12:35
  it,
• 12:35
  so
• 12:36
  to
• 12:36
  speak.
• 12:36
  You
• 12:36
  know,
• 12:36
  globally,
• 12:37
  it
• 12:37
  sounds
• 12:37
  like.
• 12:38
  All
• 12:38
  right,
• 12:38
  so
• 12:38
  I've
• 12:39
  never
• 12:39
  gotten
• 12:39
  to
• 12:39
  ask
• 12:40
  a
• 12:40
  CEO
• 12:40
  this
• 12:40
  question.
• 12:41
  Yes.
• 12:41
  So
• 12:41
  I
• 12:41
  hope
• 12:42
  you
• 12:42
  bear
• 12:42
  with
• 12:42
  me.
• 12:42
  But
• 12:43
  one
• 12:43
  of
• 12:43
  the
• 12:43
  sessions
• 12:43
  is
• 12:44
  on
• 12:44
  agentic
• 12:45
  commerce
• 12:45
  like.
• 12:45
  Right.
• 12:46
  And
• 12:46
  so
• 12:47
  particularly
• 12:48
  with
• 12:48
  everything
• 12:48
  you
• 12:48
  just
• 12:49
  said.
• 12:50
  So
• 12:50
  now
• 12:50
  let's
• 12:50
  bring
• 12:50
  agents
• 12:51
  into
• 12:51
  the
• 12:51
  equation
• 12:52
  and
• 12:52
  agents
• 12:52
  are
• 12:53
  doing
• 12:53
  the
• 12:53
  shopping
• 12:54
  for
• 12:54
  the
• 12:54
  consumers
• 12:55
  where
• 12:55
  you
• 12:55
  already
• 12:56
  have
• 12:56
  a
• 12:56
  large
• 12:56
  penetration
• 12:57
  rate
• 12:57
  of
• 12:59
  E
• 12:59
  commerce.
• 13:01
  How
• 13:01
  are
• 13:01
  you
• 13:01
  preparing
• 13:02
  for
• 13:02
  that
• 13:02
  shift
• 13:03
  and
• 13:03
  how
• 13:03
  do
• 13:03
  you
• 13:03
  think
• 13:03
  it
• 13:04
  will
• 13:04
  impact,
• 13:05
  you
• 13:05
  know,
• 13:05
  the
• 13:05
  Migros
• 13:06
  business
• 13:06
  and
• 13:07
  how
• 13:07
  it
• 13:07
  talks
• 13:07
  to
• 13:08
  its
• 13:08
  consumer
• 13:08
  each
• 13:08
  and
• 13:08
  every
• 13:09
  day?
• 13:09
  Yeah,
• 13:09
  I
• 13:09
  mean
• 13:09
  this
• 13:10
  is
• 13:10
  what
• 13:10
  we
• 13:10
  are
• 13:10
  discussing
• 13:10
  in
• 13:11
  the
• 13:11
  last
• 13:11
  couple
• 13:11
  of
• 13:11
  days
• 13:11
  here.
• 13:12
  I
• 13:12
  mean
• 13:12
  that's
• 13:12
  a
• 13:13
  very
• 13:13
  important
• 13:13
  discussion.
• 13:14
  And
• 13:14
  efficiency
• 13:15
  is
• 13:16
  number
• 13:16
  one.
• 13:16
  So
• 13:17
  there
• 13:18
  are
• 13:18
  a
• 13:18
  lot
• 13:18
  of
• 13:18
  challenges
• 13:19
  on
• 13:19
  retailers,
• 13:19
  on
• 13:19
  manufacturers
• 13:20
  due
• 13:20
  to
• 13:20
  the
• 13:21
  current
• 13:21
  economic
• 13:21
  conditions
• 13:22
  in
• 13:22
  the
• 13:22
  world.
• 13:23
  So
• 13:23
  that
• 13:23
  is
• 13:23
  why
• 13:24
  we
• 13:24
  have
• 13:24
  to
• 13:24
  be
• 13:24
  efficient.
• 13:25
  And
• 13:26
  number
• 13:26
  one
• 13:26
  driver
• 13:27
  of
• 13:27
  AI
• 13:27
  initiatives
• 13:28
  is
• 13:28
  the
• 13:28
  efficiency.
• 13:29
  So
• 13:29
  the
• 13:30
  focus
• 13:30
  of
• 13:31
  one
• 13:31
  or
• 13:31
  two
• 13:31
  items
• 13:32
  just
• 13:32
  to
• 13:32
  make
• 13:32
  sure
• 13:32
  that
• 13:33
  we
• 13:33
  focus
• 13:33
  and
• 13:34
  focus
• 13:34
  on
• 13:35
  efficiency
• 13:35
  and
• 13:36
  to
• 13:36
  have
• 13:37
  been.
• 13:37
  I
• 13:37
  mean
• 13:37
  getting
• 13:38
  ready
• 13:38
  to
• 13:38
  this
• 13:38
  session
• 13:39
  is
• 13:40
  a
• 13:40
  straightforward
• 13:41
  agenda
• 13:41
  for
• 13:42
  not
• 13:42
  just
• 13:42
  for
• 13:42
  us,
• 13:42
  I
• 13:43
  mean
• 13:43
  for
• 13:43
  every
• 13:43
  company
• 13:44
  and
• 13:44
  retail
• 13:45
  specific,
• 13:45
  I
• 13:45
  can
• 13:45
  say
• 13:46
  that
• 13:46
  it
• 13:46
  only
• 13:47
  starts
• 13:47
  with
• 13:47
  a
• 13:47
  great
• 13:48
  data
• 13:48
  foundation,
• 13:49
  right?
• 13:49
  I
• 13:49
  mean
• 13:49
  your
• 13:49
  data
• 13:50
  sets
• 13:50
  should
• 13:50
  be
• 13:50
  high
• 13:51
  quality,
• 13:51
  I
• 13:52
  mean
• 13:52
  better
• 13:52
  accessible,
• 13:53
  flexibly
• 13:54
  accessible
• 13:54
  with
• 13:54
  all
• 13:54
  these
• 13:55
  new
• 13:55
  protocols
• 13:55
  of
• 13:55
  MCPS
• 13:56
  and
• 13:56
  everything.
• 13:57
  Which
• 13:57
  means
• 13:57
  that,
• 13:58
  I
• 13:58
  mean
• 13:58
  open
• 13:58
  source
• 14:00
  kind
• 14:00
  of
• 14:00
  access
• 14:01
  is
• 14:01
  easily
• 14:02
  adapted
• 14:02
  with
• 14:03
  these
• 14:03
  agents.
• 14:04
  So
• 14:04
  we
• 14:04
  have
• 14:04
  been
• 14:04
  transforming
• 14:05
  our
• 14:05
  ERP
• 14:06
  systems,
• 14:06
  we
• 14:06
  have
• 14:06
  been
• 14:07
  transforming
• 14:07
  our
• 14:07
  APP
• 14:09
  infrastructures
• 14:10
  to
• 14:10
  be
• 14:10
  eligible
• 14:10
  in
• 14:11
  that
• 14:11
  sense.
• 14:12
  But
• 14:12
  I
• 14:12
  guess
• 14:13
  one
• 14:13
  more
• 14:13
  definite
• 14:14
  topic
• 14:15
  is
• 14:15
  just
• 14:16
  as
• 14:16
  retailers,
• 14:17
  we
• 14:17
  are
• 14:17
  all
• 14:17
  naming
• 14:18
  ourselves
• 14:19
  customer
• 14:19
  oriented,
• 14:20
  right?
• 14:20
  I
• 14:20
  mean
• 14:20
  we
• 14:20
  are
• 14:20
  shopper
• 14:21
  oriented,
• 14:22
  but
• 14:22
  shop
• 14:22
  orientation
• 14:23
  is
• 14:23
  not
• 14:23
  just
• 14:23
  listening
• 14:24
  to
• 14:24
  your
• 14:24
  shopper,
• 14:25
  but
• 14:25
  acting.
• 14:26
  So
• 14:26
  this
• 14:26
  is
• 14:27
  why,
• 14:27
  I
• 14:27
  mean
• 14:27
  one
• 14:28
  of
• 14:28
  the
• 14:28
  topics
• 14:28
  that
• 14:29
  I'm
• 14:29
  dealing
• 14:29
  with
• 14:29
  every
• 14:29
  day
• 14:30
  almost
• 14:30
  is
• 14:30
  just
• 14:31
  this
• 14:31
  customer
• 14:32
  complaints.
• 14:33
  Every
• 14:33
  day.
• 14:34
  Every
• 14:34
  day.
• 14:34
  I
• 14:34
  imagine
• 14:35
  so.
• 14:35
  Yeah,
• 14:35
  right.
• 14:35
  I
• 14:36
  put
• 14:36
  it
• 14:36
  as
• 14:36
  a
• 14:36
  CEO
• 14:37
  job
• 14:37
  that
• 14:37
  we
• 14:37
  have
• 14:37
  to
• 14:37
  listen
• 14:38
  to
• 14:38
  shopper
• 14:38
  complaints
• 14:39
  and
• 14:39
  the
• 14:40
  customer
• 14:40
  reviews
• 14:40
  online
• 14:41
  are
• 14:42
  the
• 14:42
  great
• 14:42
  information
• 14:43
  set
• 14:43
  of
• 14:43
  data.
• 14:43
  So
• 14:44
  if
• 14:44
  you
• 14:44
  want
• 14:44
  to
• 14:45
  be
• 14:45
  perfect
• 14:45
  with
• 14:45
  AI,
• 14:46
  you
• 14:46
  have
• 14:46
  to
• 14:46
  first
• 14:47
  be
• 14:47
  perfect
• 14:47
  with
• 14:47
  the
• 14:47
  customer.
• 14:48
  Customer
• 14:48
  reviews.
• 14:48
  So
• 14:49
  that
• 14:49
  is
• 14:49
  the
• 14:49
  source
• 14:49
  of
• 14:50
  data
• 14:50
  where
• 14:50
  AI
• 14:51
  is,
• 14:51
  you
• 14:51
  know,
• 14:51
  trying
• 14:52
  to
• 14:52
  understand
• 14:52
  which
• 14:53
  shoppers
• 14:53
  benefits
• 14:54
  and
• 14:54
  which
• 14:55
  retailers
• 14:55
  are
• 14:55
  doing
• 14:55
  performance.
• 14:56
  So
• 14:56
  these
• 14:57
  are
• 14:57
  key
• 14:57
  points
• 14:58
  and
• 14:58
  not.
• 14:59
  But
• 14:59
  last
• 14:59
  least,
• 15:00
  not
• 15:00
  least,
• 15:01
  I
• 15:01
  guess
• 15:02
  whenever
• 15:02
  it
• 15:02
  comes
• 15:02
  to
• 15:03
  the
• 15:04
  last
• 15:04
  mile
• 15:04
  delivery
• 15:05
  is,
• 15:05
  is
• 15:06
  where
• 15:06
  we
• 15:06
  win
• 15:06
  or
• 15:07
  just
• 15:07
  where
• 15:07
  we
• 15:07
  lose
• 15:08
  the
• 15:08
  game.
• 15:08
  Because
• 15:09
  at
• 15:09
  the
• 15:09
  end
• 15:09
  of
• 15:09
  it,
• 15:10
  that's
• 15:10
  all
• 15:10
  logistics.
• 15:11
  That's
• 15:11
  the
• 15:12
  performance
• 15:12
  that
• 15:12
  we
• 15:12
  have
• 15:12
  to
• 15:13
  just
• 15:13
  make
• 15:13
  sure
• 15:13
  that
• 15:14
  the
• 15:14
  products
• 15:14
  are
• 15:15
  delivered
• 15:15
  in
• 15:16
  full,
• 15:16
  on
• 15:17
  time
• 15:18
  and
• 15:18
  in
• 15:18
  a
• 15:18
  good
• 15:18
  shape.
• 15:19
  And
• 15:19
  the
• 15:20
  goods
• 15:20
  that
• 15:20
  you
• 15:20
  deal
• 15:20
  with,
• 15:21
  you're
• 15:21
  looking
• 15:21
  in
• 15:21
  a
• 15:21
  good
• 15:21
  shape.
• 15:22
  So
• 15:22
  these
• 15:23
  are
• 15:23
  all
• 15:23
  the
• 15:23
  reviews
• 15:23
  that
• 15:24
  we
• 15:24
  are
• 15:24
  reflected
• 15:25
  and
• 15:25
  logistics
• 15:26
  are
• 15:26
  the
• 15:26
  key
• 15:26
  at
• 15:27
  the
• 15:27
  end
• 15:27
  of
• 15:27
  it
• 15:27
  to
• 15:27
  make
• 15:28
  sure
• 15:28
  that
• 15:28
  the
• 15:28
  AI
• 15:28
  and
• 15:29
  The
• 15:29
  agents
• 15:29
  are
• 15:29
  picking
• 15:30
  you
• 15:30
  rather
• 15:30
  than
• 15:31
  the
• 15:31
  other
• 15:31
  alternatives.
• 15:32
  So
• 15:32
  data
• 15:33
  logistics
• 15:34
  and
• 15:34
  customer
• 15:34
  reviews.
• 15:35
  These
• 15:35
  are
• 15:35
  data
• 15:35
  logistics
• 15:36
  and
• 15:36
  relentless
• 15:37
  focus
• 15:37
  on
• 15:37
  the
• 15:37
  customer,
• 15:38
  particularly
• 15:38
  on
• 15:38
  the
• 15:38
  review
• 15:38
  side
• 15:39
  of
• 15:39
  things.
• 15:39
  That's
• 15:40
  how
• 15:40
  you
• 15:40
  think
• 15:40
  about
• 15:40
  it.
• 15:40
  And
• 15:41
  especially
• 15:41
  the
• 15:42
  the
• 15:42
  new
• 15:42
  retail
• 15:43
  verse
• 15:43
  that
• 15:43
  we
• 15:44
  are
• 15:44
  coming
• 15:44
  beyond
• 15:45
  the
• 15:45
  trade
• 15:45
  activities
• 15:46
  are
• 15:46
  also
• 15:46
  great
• 15:47
  help
• 15:47
  here.
• 15:47
  We
• 15:47
  are
• 15:48
  building
• 15:48
  our
• 15:48
  own
• 15:48
  retail
• 15:49
  media,
• 15:50
  we
• 15:50
  are
• 15:50
  building
• 15:50
  our
• 15:50
  own
• 15:51
  initiative
• 15:51
  around
• 15:52
  payment
• 15:52
  systems,
• 15:53
  fintech
• 15:54
  and
• 15:54
  we
• 15:54
  are
• 15:54
  building
• 15:54
  our
• 15:55
  own
• 15:55
  last
• 15:55
  mile
• 15:55
  initiatives
• 15:56
  to
• 15:56
  make
• 15:57
  sure
• 15:57
  that
• 15:57
  we
• 15:57
  control
• 15:57
  the
• 15:58
  last
• 15:58
  mile
• 15:58
  by
• 15:58
  our
• 15:58
  own.
• 15:59
  So
• 15:59
  these
• 16:00
  are
• 16:00
  great
• 16:00
  initiatives
• 16:01
  to
• 16:01
  combine
• 16:02
  this
• 16:02
  experience
• 16:03
  of
• 16:03
  the
• 16:03
  shoppers
• 16:04
  with
• 16:04
  the
• 16:04
  AI.
• 16:05
  Just
• 16:05
  helping
• 16:06
  all
• 16:06
  this
• 16:06
  data
• 16:06
  combine
• 16:07
  to
• 16:07
  make
• 16:07
  sure
• 16:07
  that
• 16:07
  we
• 16:08
  are
• 16:08
  the
• 16:08
  preferred
• 16:09
  partners.
• 16:09
  Wow,
• 16:10
  this
• 16:10
  has
• 16:10
  been
• 16:10
  great,
• 16:10
  man.
• 16:11
  Thank
• 16:11
  you
• 16:11
  so
• 16:11
  much.
• 16:11
  It's
• 16:12
  been
• 16:12
  a
• 16:12
  graduate
• 16:12
  class.
• 16:12
  This
• 16:13
  has
• 16:13
  been
• 16:13
  so
• 16:13
  fun.
• 16:14
  Like
• 16:14
  I
• 16:14
  like
• 16:14
  I
• 16:15
  said,
• 16:15
  I
• 16:15
  never
• 16:15
  have
• 16:15
  gotten
• 16:16
  a
• 16:16
  chance
• 16:16
  to
• 16:16
  ask
• 16:16
  a
• 16:16
  CEO
• 16:17
  about
• 16:17
  how
• 16:17
  they're
• 16:17
  thinking
• 16:18
  about
• 16:18
  agentic
• 16:18
  AI
• 16:19
  and
• 16:19
  so
• 16:19
  thank
• 16:19
  you
• 16:19
  for
• 16:20
  indulging
• 16:20
  that
• 16:21
  last
• 16:21
  question
• 16:21
  and
• 16:22
  thank
• 16:22
  you
• 16:22
  Oscar
• 16:22
  for
• 16:23
  joining
• 16:23
  us.
• 16:23
  My
• 16:23
  pleasure.
• 16:24
  Thank
• 16:24
  you.
• 16:24
  It
• 16:24
  was
• 16:24
  an
• 16:24
  absolute
• 16:25
  pleasure
• 16:25
  for
• 16:25
  me
• 16:25
  as
• 16:25
  well.
• 16:26
  And
• 16:26
  thanks
• 16:26
  to
• 16:26
  CGF
• 16:27
  and
• 16:27
  Vuzion
• 16:28
  for
• 16:28
  allowing
• 16:28
  us
• 16:28
  to
• 16:28
  bring
• 16:29
  you
• 16:29
  great
• 16:29
  interviews
• 16:30
  with
• 16:30
  folks
• 16:30
  like
• 16:30
  Oscar
• 16:31
  of
• 16:31
  Migros.
• 16:32
  And
• 16:32
  as
• 16:32
  always
• 16:33
  to
• 16:33
  everyone
• 16:33
  out
• 16:33
  there,
• 16:34
  be
• 16:34
  careful
• 16:35
  out
• 16:35
  there.