Latest / Omni Talk Retail / Kroger Buys Giant Eagle, Lowe's Extends The Aisle & NJ Passes A Wacky Grocery Bill | Fast Five

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Kroger Buys Giant Eagle, Lowe's Extends The Aisle & NJ Passes A Wacky Grocery Bill | Fast Five · Omni Talk Retail

• 0:00
  Hello
• 0:00
  and
• 0:00
  welcome
• 0:01
  to
• 0:01
  this
• 0:01
  week's
• 0:01
  Omnitalk
• 0:02
  Retail
• 0:02
  Fast
• 0:03
  5.
• 0:03
  I'm
• 0:03
  Chris
• 0:03
  Walton.
• 0:04
  And
• 0:04
  I'm
• 0:04
  Ben
• 0:05
  Miller.
• 0:05
  And
• 0:06
  Ben,
• 0:06
  who
• 0:06
  knew
• 0:06
  this
• 0:07
  week's
• 0:07
  episode
• 0:07
  would
• 0:08
  be
• 0:08
  dominated
• 0:08
  by,
• 0:08
  of
• 0:09
  all
• 0:09
  places,
• 0:10
  New
• 0:10
  Jersey
• 0:12
  producer
• 0:12
  Ella.
• 0:12
  Let's
• 0:13
  cue
• 0:13
  the
• 0:13
  teaser.
• 0:15
  You
• 0:15
  have
• 0:15
  a
• 0:16
  $9
• 0:16
  billion
• 0:17
  family
• 0:17
  run
• 0:17
  organization
• 0:18
  crying
• 0:18
  uncle
• 0:19
  on
• 0:19
  what
• 0:19
  lies
• 0:20
  ahead.
• 0:20
  Crucial
• 0:21
  to
• 0:21
  AI
• 0:22
  success
• 0:22
  is
• 0:22
  adoption
• 0:23
  and
• 0:23
  context.
• 0:24
  And
• 0:25
  context
• 0:25
  is
• 0:25
  the
• 0:26
  bit
• 0:26
  that
• 0:26
  still
• 0:26
  isn't
• 0:27
  being
• 0:27
  discussed
• 0:27
  enough
• 0:27
  across
• 0:28
  the
• 0:28
  industry.
• 0:29
  The
• 0:29
  AI
• 0:29
  arms
• 0:30
  race
• 0:30
  isn't
• 0:30
  about
• 0:31
  what
• 0:31
  model
• 0:31
  you're.
• 0:33
  This
• 0:33
  is
• 0:33
  the
• 0:33
  great
• 0:34
  concentration
• 0:34
  in
• 0:35
  action.
• 0:35
  Just
• 0:36
  yesterday,
• 0:36
  the
• 0:36
  NRF
• 0:37
  ranked
• 0:37
  it
• 0:37
  as
• 0:37
  the
• 0:37
  number
• 0:37
  four
• 0:37
  retailer
• 0:38
  in
• 0:38
  the
• 0:38
  whole.
• 0:38
  Of
• 0:38
  the
• 0:38
  US
• 0:40
  no
• 0:40
  grocer
• 0:40
  in
• 0:41
  their
• 0:41
  right
• 0:41
  mind
• 0:41
  is
• 0:42
  going
• 0:42
  to
• 0:42
  change
• 0:43
  prices
• 0:43
  while
• 0:44
  consumers
• 0:44
  are
• 0:45
  shopping
• 0:45
  the
• 0:45
  aisle.
• 0:46
  Even
• 0:46
  the
• 0:46
  prospect
• 0:47
  of
• 0:47
  doing
• 0:47
  that
• 0:47
  is
• 0:47
  so
• 0:48
  ethically
• 0:48
  wrong.
• 0:51
  Ben
• 0:51
  Miller,
• 0:51
  my
• 0:52
  brother
• 0:52
  from
• 0:52
  another
• 0:53
  mother
• 0:53
  across
• 0:54
  the
• 0:54
  Atlantic.
• 0:54
  He
• 0:54
  must
• 0:55
  be
• 0:55
  on
• 0:55
  cloud
• 0:55
  nine
• 0:56
  this
• 0:56
  week
• 0:56
  following
• 0:57
  England's
• 0:57
  win.
• 0:59
  Oh,
• 0:59
  Chris,
• 0:59
  look,
• 0:59
  first
• 1:00
  of
• 1:00
  all,
• 1:00
  thank
• 1:00
  you
• 1:00
  for
• 1:00
  going
• 1:01
  early
• 1:01
  and
• 1:01
  bringing
• 1:02
  up
• 1:02
  the
• 1:02
  World
• 1:02
  Cup.
• 1:03
  Did
• 1:03
  not
• 1:03
  want
• 1:03
  it
• 1:03
  to
• 1:03
  be
• 1:04
  the
• 1:04
  elephant
• 1:04
  in
• 1:04
  the
• 1:04
  room.
• 1:05
  What
• 1:06
  a
• 1:06
  great
• 1:06
  tournament.
• 1:07
  It's
• 1:07
  been,
• 1:07
  it's
• 1:08
  been
• 1:08
  great.
• 1:08
  Hosted.
• 1:09
  I'm
• 1:09
  sorry
• 1:10
  to
• 1:10
  have
• 1:10
  seen
• 1:11
  all
• 1:11
  of
• 1:12
  the
• 1:12
  hosts
• 1:12
  go
• 1:12
  out
• 1:12
  in
• 1:12
  a
• 1:13
  round
• 1:13
  of
• 1:13
  16,
• 1:13
  but
• 1:13
  I'm
• 1:14
  very
• 1:14
  delighted
• 1:15
  that
• 1:15
  Mexico
• 1:16
  were
• 1:16
  one
• 1:16
  of
• 1:17
  them.
• 1:17
  It
• 1:17
  was
• 1:17
  a
• 1:18
  incredible,
• 1:18
  incredible
• 1:20
  performance
• 1:20
  in
• 1:20
  the
• 1:20
  Azteca
• 1:21
  on
• 1:22
  Sunday
• 1:22
  night.
• 1:22
  Monday
• 1:23
  morning,
• 1:24
  it
• 1:24
  was
• 1:24
  such
• 1:24
  a
• 1:24
  great
• 1:24
  match.
• 1:24
  My
• 1:25
  wife
• 1:25
  and
• 1:25
  family
• 1:25
  and
• 1:25
  I
• 1:26
  were
• 1:26
  watching
• 1:26
  the
• 1:26
  U.S.
• 1:27
  you
• 1:27
  know,
• 1:27
  play
• 1:27
  their
• 1:28
  terrible
• 1:28
  match
• 1:28
  against,
• 1:29
  against
• 1:29
  Belgium
• 1:30
  and
• 1:30
  they
• 1:30
  were
• 1:30
  saying,
• 1:31
  like,
• 1:31
  my
• 1:31
  wife,
• 1:31
  my
• 1:31
  wife
• 1:32
  particularly
• 1:32
  was
• 1:32
  like,
• 1:32
  man,
• 1:33
  the
• 1:33
  quality
• 1:33
  of
• 1:34
  this
• 1:34
  match
• 1:34
  is
• 1:34
  just
• 1:34
  so
• 1:35
  inferior
• 1:35
  to
• 1:35
  like,
• 1:36
  just
• 1:36
  the,
• 1:36
  the
• 1:36
  intensity
• 1:37
  and
• 1:37
  the,
• 1:38
  and
• 1:38
  the
• 1:39
  excellence
• 1:39
  in
• 1:39
  play
• 1:40
  that
• 1:40
  we
• 1:40
  saw
• 1:40
  on
• 1:41
  display
• 1:41
  with
• 1:41
  England
• 1:42
  and
• 1:42
  Mexico.
• 1:43
  So,
• 1:43
  so
• 1:44
  kudos
• 1:44
  to
• 1:44
  you
• 1:44
  all.
• 1:44
  I
• 1:45
  pull
• 1:45
  it
• 1:45
  for
• 1:45
  you,
• 1:45
  man.
• 1:45
  I
• 1:45
  pull
• 1:46
  it
• 1:46
  for
• 1:46
  you.
• 1:46
  I
• 1:46
  like
• 1:46
  Norway
• 1:47
  too,
• 1:47
  in
• 1:47
  your
• 1:48
  next
• 1:48
  match,
• 1:48
  but
• 1:48
  I'm
• 1:48
  pulling
• 1:49
  for
• 1:49
  you.
• 1:49
  I'm
• 1:49
  pulling
• 1:49
  hard.
• 1:50
  We'll
• 1:50
  see
• 1:50
  what
• 1:50
  happens.
• 1:51
  It's,
• 1:51
  it's.
• 1:52
  We're
• 1:52
  absolutely
• 1:53
  into
• 1:53
  the
• 1:54
  grounds
• 1:54
  of,
• 1:54
  of
• 1:55
  the
• 1:55
  unknown.
• 1:55
  It's
• 1:56
  completely
• 1:56
  unpredictable
• 1:58
  now,
• 1:58
  other
• 1:59
  than
• 1:59
  France
• 1:59
  winning
• 2:00
  the
• 2:00
  whole
• 2:00
  thing.
• 2:01
  Right,
• 2:01
  right,
• 2:01
  right,
• 2:02
  right,
• 2:02
  right,
• 2:02
  right.
• 2:02
  Yeah,
• 2:03
  yeah.
• 2:03
  It's
• 2:03
  the
• 2:03
  best
• 2:03
  of
• 2:03
  the
• 2:03
  best
• 2:04
  now.
• 2:04
  All
• 2:04
  right,
• 2:04
  well,
• 2:05
  so
• 2:05
  before
• 2:05
  we
• 2:05
  get
• 2:05
  started,
• 2:05
  remind
• 2:06
  our
• 2:06
  audience
• 2:06
  of
• 2:06
  who
• 2:06
  you
• 2:07
  are
• 2:07
  and
• 2:07
  all
• 2:08
  that
• 2:08
  is
• 2:08
  keeping
• 2:08
  you
• 2:08
  busy
• 2:09
  these
• 2:09
  days,
• 2:09
  Mr.
• 2:09
  Miller,
• 2:10
  because
• 2:10
  I'm
• 2:10
  curious.
• 2:10
  I
• 2:11
  want
• 2:11
  to
• 2:11
  know.
• 2:12
  Thank
• 2:12
  you,
• 2:12
  Chris.
• 2:13
  So
• 2:13
  many
• 2:14
  people
• 2:14
  know
• 2:14
  me
• 2:14
  for
• 2:15
  the
• 2:15
  last
• 2:15
  four
• 2:16
  years
• 2:16
  or
• 2:16
  so.
• 2:16
  When
• 2:16
  I
• 2:17
  was
• 2:17
  v.
• 2:17
  Contenter,
• 2:18
  Shop
• 2:19
  talk
• 2:19
  and
• 2:19
  grocery
• 2:19
  shop.
• 2:20
  Before
• 2:21
  that,
• 2:21
  I
• 2:21
  had
• 2:21
  a
• 2:21
  long
• 2:21
  stint
• 2:22
  running
• 2:22
  a
• 2:22
  retail
• 2:23
  research
• 2:24
  company
• 2:25
  and
• 2:25
  consultancy.
• 2:26
  And
• 2:26
  before
• 2:26
  that
• 2:27
  I
• 2:27
  was
• 2:27
  in
• 2:27
  retail
• 2:28
  myself
• 2:28
  as
• 2:29
  a
• 2:29
  grocer
• 2:29
  working
• 2:29
  in
• 2:30
  kind
• 2:30
  of
• 2:30
  merchandising,
• 2:31
  commercial
• 2:31
  and
• 2:32
  investor
• 2:33
  relation
• 2:33
  roles.
• 2:34
  And
• 2:34
  I'm
• 2:35
  now
• 2:35
  embarking
• 2:36
  on
• 2:36
  life
• 2:36
  as
• 2:36
  an
• 2:36
  independent
• 2:37
  retail
• 2:38
  analyst.
• 2:38
  So
• 2:39
  it's
• 2:40
  a
• 2:40
  great
• 2:40
  time
• 2:40
  talking
• 2:40
  to
• 2:41
  lots
• 2:41
  of
• 2:41
  people.
• 2:41
  Got
• 2:41
  some
• 2:42
  really
• 2:42
  fun
• 2:42
  projects
• 2:43
  for
• 2:43
  after
• 2:43
  the
• 2:43
  summer
• 2:44
  and,
• 2:44
  and
• 2:44
  just
• 2:45
  kind
• 2:45
  of
• 2:45
  putting
• 2:45
  everything
• 2:45
  together
• 2:46
  and
• 2:46
  making
• 2:47
  sure
• 2:47
  I
• 2:47
  do
• 2:47
  it
• 2:47
  at
• 2:47
  the
• 2:48
  correct
• 2:48
  pace.
• 2:49
  That
• 2:49
  enables
• 2:49
  me
• 2:49
  to
• 2:49
  watch
• 2:49
  some
• 2:50
  World
• 2:50
  cup
• 2:50
  at
• 2:50
  the
• 2:50
  same
• 2:51
  time.
• 2:52
  Right,
• 2:52
  right.
• 2:52
  That
• 2:52
  is
• 2:53
  one
• 2:53
  nice
• 2:53
  thing
• 2:53
  about
• 2:53
  being
• 2:54
  independent.
• 2:54
  It
• 2:54
  allows
• 2:54
  you
• 2:55
  to
• 2:55
  set
• 2:55
  your
• 2:55
  schedule
• 2:55
  as
• 2:56
  I'm
• 2:56
  fighting
• 2:56
  too.
• 2:56
  Like
• 2:56
  I'm
• 2:57
  watching
• 2:57
  more
• 2:57
  soccer
• 2:57
  than
• 2:57
  ever
• 2:58
  have.
• 2:58
  Well,
• 2:58
  it's
• 2:58
  always
• 2:59
  good
• 2:59
  to
• 2:59
  see
• 2:59
  you.
• 2:59
  I
• 3:00
  always
• 3:00
  love
• 3:00
  having
• 3:00
  you
• 3:00
  on.
• 3:00
  Someone
• 3:01
  said
• 3:01
  to
• 3:01
  me
• 3:01
  last
• 3:01
  week
• 3:01
  too,
• 3:02
  I
• 3:02
  wanted
• 3:02
  to
• 3:02
  tell
• 3:02
  this
• 3:02
  to
• 3:02
  you.
• 3:03
  Someone
• 3:03
  said
• 3:03
  to
• 3:03
  me
• 3:03
  last
• 3:03
  week,
• 3:04
  I
• 3:04
  was
• 3:04
  talking
• 3:04
  to
• 3:04
  him
• 3:04
  on
• 3:04
  the
• 3:04
  phone,
• 3:04
  they
• 3:05
  said,
• 3:05
  man,
• 3:05
  you
• 3:05
  and
• 3:06
  Ben
• 3:06
  have
• 3:06
  such
• 3:06
  good
• 3:07
  chemistry.
• 3:07
  You
• 3:08
  should
• 3:08
  have
• 3:08
  him
• 3:08
  on
• 3:08
  more.
• 3:09
  And
• 3:09
  so
• 3:10
  here
• 3:10
  you
• 3:11
  go
• 3:11
  for
• 3:11
  that
• 3:11
  loyal
• 3:12
  listener.
• 3:12
  So
• 3:13
  are
• 3:13
  you
• 3:13
  ready
• 3:13
  to
• 3:13
  get
• 3:13
  to
• 3:13
  this
• 3:13
  week's
• 3:14
  headlines,
• 3:14
  Ben?
• 3:15
  Let's
• 3:15
  do
• 3:15
  it.
• 3:16
  All
• 3:16
  right.
• 3:17
  In
• 3:17
  this
• 3:17
  week's
• 3:17
  Fast5,
• 3:18
  which
• 3:18
  is
• 3:18
  of
• 3:18
  course
• 3:19
  brought
• 3:19
  to
• 3:19
  you
• 3:19
  with
• 3:19
  the
• 3:19
  help
• 3:20
  and
• 3:20
  support
• 3:20
  of
• 3:20
  the
• 3:21
  A
• 3:21
  and
• 3:21
  M
• 3:21
  consumer
• 3:21
  and
• 3:22
  retail
• 3:22
  group,
• 3:22
  Miracle
• 3:23
  Corso,
• 3:24
  Ocampo
• 3:25
  Capital
• 3:25
  and
• 3:25
  Valoc,
• 3:26
  we've
• 3:27
  got
• 3:27
  news
• 3:27
  on
• 3:28
  Amazon
• 3:28
  making
• 3:28
  a
• 3:29
  $1
• 3:29
  billion
• 3:29
  bet
• 3:30
  on
• 3:30
  embedding
• 3:30
  AI
• 3:31
  engineers
• 3:31
  directly
• 3:32
  inside
• 3:32
  its
• 3:32
  AWS
• 3:33
  clients
• 3:33
  businesses.
• 3:34
  Lowe's
• 3:35
  making
• 3:35
  it
• 3:35
  easier
• 3:35
  for
• 3:36
  store
• 3:36
  associates
• 3:36
  to
• 3:37
  sell
• 3:37
  you
• 3:37
  a
• 3:37
  decorative
• 3:37
  goose
• 3:38
  or
• 3:38
  an
• 3:38
  above
• 3:38
  ground
• 3:39
  pool
• 3:39
  pool
• 3:39
  through
• 3:39
  its
• 3:40
  marketplace.
• 3:40
  New
• 3:41
  Jersey
• 3:41
  passing
• 3:41
  a
• 3:42
  first
• 3:42
  in
• 3:42
  the
• 3:42
  nation
• 3:42
  bill
• 3:43
  banning
• 3:43
  surveillance
• 3:44
  pricing
• 3:44
  and
• 3:45
  and
• 3:46
  pausing
• 3:47
  electronic
• 3:47
  shelf
• 3:48
  labels
• 3:48
  in
• 3:48
  grocery
• 3:48
  stores.
• 3:49
  And
• 3:49
  Amazon
• 3:50
  giving
• 3:50
  agentic
• 3:51
  shoppers
• 3:51
  up
• 3:51
  to
• 3:51
  365
• 3:53
  days
• 3:53
  of
• 3:53
  price
• 3:53
  history.
• 3:54
  So
• 3:54
  Alexa
• 3:55
  can
• 3:55
  tell
• 3:55
  you
• 3:55
  if
• 3:56
  that
• 3:56
  deal
• 3:56
  is
• 3:57
  actually
• 3:57
  a
• 3:57
  deal.
• 3:58
  But
• 3:58
  we
• 3:58
  begin
• 3:58
  today
• 3:59
  with
• 3:59
  a
• 3:59
  blockbuster
• 4:00
  grocery
• 4:01
  acquisition.
• 4:02
  Headline
• 4:02
  number
• 4:03
  one
• 4:03
  is
• 4:03
  of
• 4:03
  course
• 4:03
  brought
• 4:04
  to
• 4:04
  you
• 4:04
  by
• 4:04
  the
• 4:04
  A
• 4:04
  M
• 4:05
  Consumer
• 4:05
  and
• 4:05
  Retail
• 4:06
  Group.
• 4:06
  A
• 4:06
  and
• 4:07
  M
• 4:07
  Consumer
• 4:07
  and
• 4:07
  Retail
• 4:07
  Group
• 4:08
  is
• 4:08
  a
• 4:08
  management
• 4:08
  consulting
• 4:09
  firm
• 4:09
  that
• 4:09
  tackles
• 4:09
  the
• 4:10
  most
• 4:10
  complex
• 4:10
  challenges
• 4:11
  and
• 4:11
  advances
• 4:12
  its
• 4:12
  clients,
• 4:12
  people
• 4:13
  and
• 4:13
  communities
• 4:13
  toward
• 4:14
  their
• 4:14
  maximum
• 4:14
  potential.
• 4:15
  CRG
• 4:16
  brings
• 4:16
  the
• 4:16
  experience,
• 4:17
  tools
• 4:17
  and
• 4:17
  operator
• 4:18
  like
• 4:18
  pragmatism
• 4:19
  to
• 4:19
  help
• 4:19
  retailers
• 4:20
  and
• 4:20
  consumer
• 4:21
  products
• 4:21
  companies
• 4:22
  beyond
• 4:22
  the
• 4:22
  right
• 4:23
  side
• 4:23
  of
• 4:23
  disruption.
• 4:24
  All
• 4:25
  right,
• 4:25
  Ben,
• 4:25
  here
• 4:25
  we
• 4:25
  go.
• 4:26
  According
• 4:26
  to
• 4:26
  progressive
• 4:27
  crocher
• 4:27
  Kroger
• 4:28
  has
• 4:28
  agreed
• 4:29
  to
• 4:29
  acquire
• 4:29
  regional
• 4:30
  grocer
• 4:30
  giant
• 4:30
  Eagle
• 4:31
  for
• 4:31
  $1.65
• 4:32
  billion,
• 4:33
  marking
• 4:33
  Kroger's
• 4:34
  first
• 4:34
  major
• 4:34
  acquisition
• 4:35
  since
• 4:35
  its
• 4:36
  proposed
• 4:37
  $24.6
• 4:37
  billion
• 4:38
  Albertsons
• 4:39
  merger
• 4:39
  collapsed
• 4:40
  in
• 4:40
  2024.
• 4:41
  The
• 4:42
  deal
• 4:42
  is
• 4:42
  comprised
• 4:43
  of
• 4:43
  $1.25
• 4:43
  billion
• 4:44
  in
• 4:44
  cash,
• 4:45
  plus
• 4:45
  the
• 4:45
  assumption
• 4:45
  of
• 4:46
  roughly
• 4:46
  $400
• 4:47
  million
• 4:47
  in
• 4:47
  outstanding
• 4:48
  liabilities.
• 4:49
  Giant
• 4:49
  Eagle
• 4:50
  Is
• 4:50
  family
• 4:50
  owned,
• 4:51
  generates
• 4:51
  about
• 4:52
  $9
• 4:52
  billion
• 4:52
  in
• 4:53
  annual
• 4:53
  sales
• 4:53
  and
• 4:53
  operates
• 4:54
  roughly
• 4:55
  197
• 4:56
  supermarkets
• 4:57
  and
• 4:57
  11
• 4:57
  standalone
• 4:58
  pharmacies
• 4:59
  across
• 4:59
  Northern
• 4:59
  Ohio,
• 5:00
  western
• 5:01
  Pennsylvania,
• 5:01
  West
• 5:01
  Virginia,
• 5:02
  Maryland
• 5:02
  and
• 5:03
  Indiana.
• 5:04
  Giant
• 5:04
  Eagle
• 5:04
  will
• 5:04
  keep
• 5:04
  its
• 5:05
  name,
• 5:05
  its
• 5:05
  Cranberry
• 5:06
  Township,
• 5:06
  Pennsylvania
• 5:07
  headquarters
• 5:07
  and
• 5:08
  its
• 5:08
  MyParks
• 5:09
  loyalty
• 5:09
  program.
• 5:10
  The
• 5:10
  deal
• 5:10
  is
• 5:10
  expected
• 5:11
  to
• 5:11
  close
• 5:11
  in
• 5:11
  2027
• 5:12
  pending
• 5:13
  regulatory
• 5:14
  approval.
• 5:14
  Ben,
• 5:15
  does
• 5:15
  Kroger's
• 5:16
  acquisition
• 5:16
  of
• 5:16
  Giant
• 5:17
  Eagle
• 5:17
  say
• 5:17
  more
• 5:17
  about
• 5:18
  Kroger
• 5:18
  or
• 5:19
  more
• 5:19
  about
• 5:19
  the
• 5:19
  state
• 5:20
  of
• 5:20
  the
• 5:20
  grocery
• 5:20
  industry
• 5:21
  itself?
• 5:22
  Oh,
• 5:23
  wow.
• 5:23
  What
• 5:23
  a
• 5:23
  great
• 5:23
  place
• 5:23
  to
• 5:24
  start.
• 5:24
  The
• 5:25
  state
• 5:25
  of
• 5:25
  US
• 5:25
  Grocery.
• 5:26
  Love
• 5:27
  it.
• 5:27
  Look,
• 5:28
  I
• 5:28
  think
• 5:28
  for
• 5:28
  me
• 5:28
  there's
• 5:29
  two
• 5:29
  perspectives.
• 5:30
  There
• 5:30
  is.
• 5:30
  One,
• 5:30
  is
• 5:30
  it
• 5:31
  a
• 5:31
  good
• 5:31
  deal?
• 5:32
  And
• 5:32
  then
• 5:32
  the
• 5:33
  second
• 5:33
  is
• 5:34
  should
• 5:34
  they
• 5:34
  do
• 5:34
  it
• 5:35
  anyway?
• 5:36
  Okay,
• 5:38
  first,
• 5:38
  good
• 5:39
  Look,
• 5:39
  Giant
• 5:40
  Eagle
• 5:40
  is
• 5:40
  a
• 5:40
  solid
• 5:41
  business.
• 5:41
  Yeah,
• 5:42
  it's
• 5:42
  got
• 5:42
  and
• 5:42
  it's
• 5:43
  got
• 5:43
  some
• 5:43
  really
• 5:43
  excellent
• 5:44
  regional
• 5:45
  market
• 5:45
  positions
• 5:46
  in
• 5:47
  places
• 5:47
  where
• 5:47
  Kroger
• 5:48
  doesn't.
• 5:48
  So
• 5:48
  it
• 5:49
  is
• 5:49
  a,
• 5:50
  on
• 5:50
  the
• 5:50
  whole,
• 5:50
  a
• 5:51
  good
• 5:51
  geographic
• 5:51
  fit.
• 5:52
  Look,
• 5:52
  there'll
• 5:53
  need
• 5:53
  to
• 5:53
  be
• 5:53
  some
• 5:53
  selective
• 5:54
  store
• 5:55
  divestments
• 5:56
  to
• 5:56
  hit
• 5:56
  antitrust,
• 5:57
  but
• 5:58
  I
• 5:58
  they
• 5:59
  should
• 5:59
  be
• 6:00
  manageable.
• 6:03
  Second,
• 6:03
  can
• 6:03
  they
• 6:03
  get
• 6:04
  value
• 6:04
  from
• 6:04
  it?
• 6:04
  So
• 6:05
  look,
• 6:06
  they
• 6:06
  are
• 6:06
  spending
• 6:07
  a
• 6:08
  billion
• 6:08
  and
• 6:08
  a
• 6:08
  half
• 6:09
  to
• 6:09
  get
• 6:09
  another
• 6:09
  9
• 6:10
  billion
• 6:10
  in
• 6:10
  revenue.
• 6:11
  So
• 6:11
  that's
• 6:12
  better
• 6:12
  economies
• 6:13
  of
• 6:13
  scale,
• 6:13
  that's
• 6:13
  better
• 6:13
  buying,
• 6:14
  that's
• 6:14
  deeper.
• 6:14
  With
• 6:15
  CPG
• 6:16
  partners,
• 6:17
  you've
• 6:17
  got
• 6:17
  to
• 6:17
  assume
• 6:17
  the
• 6:17
  Kroger
• 6:18
  is
• 6:18
  buying
• 6:18
  better
• 6:18
  than
• 6:18
  Giant
• 6:19
  Eagle
• 6:19
  was.
• 6:19
  There's
• 6:20
  retail
• 6:21
  media
• 6:21
  opportunities
• 6:22
  and
• 6:23
  through
• 6:23
  Kroger
• 6:23
  precision
• 6:24
  marketing.
• 6:25
  So
• 6:26
  that
• 6:26
  definitely
• 6:27
  a
• 6:27
  route
• 6:27
  to
• 6:28
  add
• 6:28
  value.
• 6:29
  They
• 6:30
  can
• 6:30
  absolutely
• 6:30
  add
• 6:30
  value
• 6:31
  to
• 6:31
  Giant
• 6:31
  Eagle's
• 6:32
  ecom
• 6:32
  business.
• 6:33
  So
• 6:34
  Giant
• 6:34
  Eagle,
• 6:34
  he's
• 6:34
  got
• 6:35
  a
• 6:35
  look,
• 6:35
  he's
• 6:35
  got
• 6:35
  a
• 6:35
  good
• 6:35
  curbside
• 6:36
  game.
• 6:37
  But
• 6:37
  there
• 6:37
  is
• 6:37
  work
• 6:37
  to
• 6:38
  do
• 6:38
  in
• 6:38
  home
• 6:38
  delivery
• 6:39
  that
• 6:39
  as
• 6:39
  we
• 6:39
  know
• 6:39
  is
• 6:40
  the
• 6:40
  fastest
• 6:40
  growing
• 6:40
  bit
• 6:41
  of
• 6:41
  US
• 6:42
  grocery
• 6:42
  ecom
• 6:43
  right
• 6:43
  now.
• 6:44
  So
• 6:45
  there's
• 6:45
  some
• 6:45
  strong
• 6:46
  kind
• 6:46
  of
• 6:46
  synergistic
• 6:47
  rationale
• 6:47
  there.
• 6:50
  The
• 6:50
  Giant
• 6:50
  Eagle's
• 6:51
  private,
• 6:51
  so
• 6:51
  it's
• 6:52
  hard
• 6:52
  to
• 6:52
  get
• 6:52
  a
• 6:52
  really
• 6:53
  clear
• 6:53
  read
• 6:54
  on
• 6:54
  the
• 6:55
  financials.
• 6:56
  I
• 6:57
  think
• 6:57
  the
• 6:57
  price
• 6:57
  feels
• 6:58
  okay,
• 6:58
  but
• 6:59
  having
• 6:59
  a
• 6:59
  feeling
• 7:00
  about
• 7:00
  an
• 7:00
  acquisition
• 7:01
  isn't
• 7:01
  great.
• 7:02
  It
• 7:02
  feels
• 7:03
  okay,
• 7:04
  right?
• 7:06
  It's
• 7:07
  not
• 7:07
  where
• 7:07
  you'd
• 7:07
  want
• 7:07
  to
• 7:07
  be.
• 7:08
  We're
• 7:08
  taking
• 7:08
  a
• 7:08
  view
• 7:09
  on
• 7:09
  it.
• 7:10
  But
• 7:11
  look,
• 7:11
  for
• 7:11
  everything
• 7:11
  I
• 7:12
  know
• 7:12
  about
• 7:12
  Giant
• 7:12
  Eagle,
• 7:13
  they
• 7:13
  should
• 7:13
  be
• 7:13
  making
• 7:14
  ebitda
• 7:15
  of
• 7:15
  about
• 7:16
  250
• 7:17
  million
• 7:17
  a
• 7:17
  year.
• 7:18
  So
• 7:18
  China
• 7:19
  Eagle
• 7:19
  spending
• 7:19
  1.6
• 7:20
  to
• 7:20
  get
• 7:20
  another
• 7:21
  250
• 7:22
  profit.
• 7:22
  That's
• 7:22
  okay.
• 7:23
  It's
• 7:23
  a
• 7:23
  multiple
• 7:24
  of
• 7:24
  what,
• 7:24
  6
• 7:24
  to
• 7:24
  7?
• 7:25
  Which
• 7:25
  feels
• 7:26
  okay
• 7:26
  for
• 7:26
  a
• 7:26
  big
• 7:26
  grocery
• 7:27
  acquisition.
• 7:28
  So
• 7:29
  that's
• 7:30
  fully
• 7:30
  okay.
• 7:31
  It's
• 7:31
  now
• 7:31
  the
• 7:32
  should
• 7:33
  okay.
• 7:34
  And
• 7:34
  the
• 7:35
  should's
• 7:35
  difficult
• 7:36
  because
• 7:36
  we
• 7:36
  don't
• 7:37
  know
• 7:37
  the
• 7:37
  Background.
• 7:38
  We
• 7:38
  don't
• 7:38
  know
• 7:38
  why
• 7:39
  Giant
• 7:39
  Eagle
• 7:40
  are
• 7:40
  selling.
• 7:41
  I
• 7:42
  mean
• 7:42
  it
• 7:43
  could
• 7:43
  be
• 7:43
  a
• 7:43
  point
• 7:43
  that
• 7:44
  this
• 7:44
  is
• 7:44
  just
• 7:44
  an
• 7:45
  offer
• 7:45
  that's
• 7:45
  come
• 7:45
  up
• 7:46
  that's
• 7:46
  too
• 7:46
  good
• 7:46
  to
• 7:47
  say
• 7:47
  no
• 7:47
  to.
• 7:47
  You
• 7:48
  know,
• 7:48
  if
• 7:48
  you're
• 7:48
  Kroger
• 7:49
  and
• 7:49
  this
• 7:49
  is
• 7:49
  offered
• 7:49
  to
• 7:50
  you
• 7:50
  at
• 7:50
  this
• 7:50
  price,
• 7:51
  it's
• 7:52
  hard
• 7:52
  to
• 7:52
  know
• 7:52
  why
• 7:53
  you
• 7:53
  would
• 7:53
  decline.
• 7:54
  So
• 7:54
  look,
• 7:55
  that's
• 7:55
  where
• 7:55
  due
• 7:55
  diligence
• 7:56
  is
• 7:56
  so
• 7:56
  important,
• 7:57
  why
• 7:57
  they're
• 7:57
  selling,
• 7:57
  why
• 7:58
  now?
• 7:59
  It
• 7:59
  may
• 8:00
  just
• 8:00
  be
• 8:00
  actually
• 8:00
  a
• 8:01
  really,
• 8:01
  a
• 8:01
  relatively.
• 8:02
  Kroger's
• 8:03
  150
• 8:03
  plus
• 8:03
  billion
• 8:04
  business.
• 8:04
  So
• 8:05
  it's
• 8:05
  a
• 8:05
  relatively
• 8:05
  small
• 8:06
  acquisition
• 8:06
  to
• 8:07
  buy
• 8:07
  a
• 8:07
  good
• 8:07
  business
• 8:07
  with
• 8:08
  good
• 8:08
  market
• 8:09
  positions.
• 8:11
  They've
• 8:11
  got
• 8:11
  new,
• 8:11
  new
• 8:12
  leadership
• 8:12
  so
• 8:12
  they
• 8:13
  can
• 8:13
  put
• 8:13
  the
• 8:13
  Albertson
• 8:14
  thing
• 8:14
  behind
• 8:14
  them.
• 8:14
  Greg
• 8:15
  Foreign
• 8:15
  could
• 8:15
  say
• 8:16
  new
• 8:16
  broom.
• 8:17
  Come
• 8:17
  with
• 8:17
  me.
• 8:18
  You
• 8:18
  know,
• 8:18
  there
• 8:18
  is
• 8:18
  absolute
• 8:19
  distraction
• 8:19
  risk.
• 8:20
  But
• 8:20
  maybe
• 8:21
  he
• 8:21
  needs
• 8:21
  to
• 8:21
  do
• 8:21
  something
• 8:21
  like
• 8:22
  this
• 8:22
  to
• 8:22
  prove
• 8:22
  that
• 8:22
  he
• 8:22
  can
• 8:23
  balance
• 8:23
  everything
• 8:23
  he
• 8:24
  needs
• 8:24
  to
• 8:24
  do.
• 8:27
  But
• 8:27
  Chris,
• 8:27
  does
• 8:27
  it
• 8:27
  excite
• 8:28
  me?
• 8:29
  Yeah.
• 8:29
  Is
• 8:29
  this,
• 8:30
  is
• 8:30
  this
• 8:30
  the
• 8:30
  thing
• 8:31
  that
• 8:31
  is
• 8:31
  going
• 8:31
  to
• 8:31
  supercharge
• 8:32
  Kroger?
• 8:32
  It's,
• 8:33
  it's
• 8:33
  just
• 8:33
  a
• 8:33
  very
• 8:34
  Kroger
• 8:35
  thing
• 8:35
  to
• 8:35
  do.
• 8:36
  And
• 8:36
  I'm
• 8:36
  right
• 8:36
  and
• 8:37
  I,
• 8:37
  I
• 8:37
  can
• 8:37
  understand
• 8:38
  it,
• 8:38
  it's
• 8:38
  got
• 8:39
  rationale.
• 8:40
  But
• 8:40
  I,
• 8:41
  but
• 8:41
  I'm
• 8:41
  not
• 8:41
  sure
• 8:43
  what
• 8:43
  they're
• 8:43
  getting
• 8:44
  that's
• 8:44
  new.
• 8:45
  You
• 8:45
  know,
• 8:45
  both,
• 8:46
  both
• 8:46
  these
• 8:46
  businesses
• 8:48
  are
• 8:48
  slowly
• 8:49
  losing
• 8:50
  market
• 8:50
  share
• 8:51
  to
• 8:52
  Amazon
• 8:52
  and
• 8:52
  Walmart
• 8:53
  and
• 8:53
  Sprouts
• 8:54
  and,
• 8:54
  and
• 8:54
  Aldi.
• 8:55
  I
• 8:55
  don't
• 8:56
  see
• 8:56
  anything
• 8:57
  in
• 8:57
  this
• 8:57
  is
• 8:57
  going
• 8:58
  to
• 8:58
  help
• 8:58
  with
• 8:58
  that.
• 8:59
  Now
• 8:59
  if
• 9:00
  leadership
• 9:01
  team
• 9:01
  can
• 9:01
  prove
• 9:01
  that
• 9:01
  they
• 9:01
  can
• 9:02
  bring
• 9:02
  this
• 9:02
  acquisition,
• 9:02
  get
• 9:03
  this
• 9:03
  extra
• 9:03
  scale,
• 9:04
  drive
• 9:04
  the
• 9:04
  value
• 9:05
  as
• 9:05
  well
• 9:05
  as
• 9:05
  giving
• 9:06
  us
• 9:06
  this
• 9:06
  something
• 9:06
  new
• 9:07
  that's
• 9:07
  exciting.
• 9:08
  I
• 9:08
  buy
• 9:08
  into
• 9:09
  that.
• 9:09
  But
• 9:10
  I'd
• 9:10
  love
• 9:10
  to
• 9:10
  see
• 9:11
  that
• 9:11
  new
• 9:11
  and
• 9:11
  exciting
• 9:11
  as
• 9:12
  well,
• 9:12
  Chris.
• 9:12
  I
• 9:12
  really
• 9:12
  would.
• 9:13
  So,
• 9:14
  so
• 9:14
  Ben.
• 9:14
  So
• 9:15
  net
• 9:15
  Net,
• 9:15
  you're
• 9:15
  kind
• 9:15
  of
• 9:16
  like
• 9:16
  eh,
• 9:16
  meh.
• 9:17
  On
• 9:17
  this
• 9:17
  acquisition.
• 9:18
  That's
• 9:18
  how
• 9:18
  I'd
• 9:18
  kind
• 9:19
  of
• 9:19
  sum
• 9:19
  it
• 9:19
  up.
• 9:19
  Meh.
• 9:19
  You're
• 9:20
  kind
• 9:20
  of
• 9:20
  meh
• 9:20
  like,
• 9:21
  you're
• 9:21
  like,
• 9:21
  okay,
• 9:21
  I'll
• 9:22
  take
• 9:22
  it.
• 9:22
  That's
• 9:22
  fine.
• 9:23
  Unless,
• 9:23
  unless
• 9:24
  you
• 9:24
  discover
• 9:24
  any
• 9:25
  skeleton
• 9:25
  in
• 9:25
  the
• 9:25
  closet
• 9:26
  when
• 9:26
  you're
• 9:26
  doing
• 9:26
  due
• 9:26
  diligence.
• 9:27
  It's
• 9:28
  probably
• 9:28
  too
• 9:28
  good
• 9:29
  an
• 9:29
  offer
• 9:29
  to
• 9:29
  say
• 9:29
  no
• 9:30
  to.
• 9:31
  But
• 9:32
  it
• 9:32
  doesn't
• 9:32
  wake
• 9:33
  me
• 9:33
  up
• 9:33
  excited
• 9:34
  in
• 9:34
  the
• 9:34
  morning,
• 9:34
  Chris.
• 9:35
  And
• 9:35
  it
• 9:35
  just
• 9:35
  feels
• 9:36
  like
• 9:36
  for
• 9:36
  you,
• 9:36
  just
• 9:36
  like
• 9:37
  another.
• 9:37
  It's
• 9:37
  just
• 9:37
  like
• 9:38
  Kroger
• 9:38
  being
• 9:38
  Kroger.
• 9:39
  That's
• 9:39
  kind
• 9:39
  of
• 9:39
  how
• 9:40
  you'd
• 9:40
  sum
• 9:40
  it
• 9:40
  up.
• 9:41
  It's
• 9:41
  CRO.
• 9:41
  It's
• 9:42
  Kroger
• 9:42
  being
• 9:42
  Kroger.
• 9:43
  Kroger
• 9:43
  being
• 9:43
  Kroger.
• 9:44
  Yeah.
• 9:44
  And
• 9:44
  I
• 9:44
  think
• 9:44
  I
• 9:44
  agree
• 9:44
  with
• 9:45
  that
• 9:45
  too.
• 9:45
  I
• 9:45
  mean
• 9:45
  the
• 9:46
  other
• 9:46
  points
• 9:46
  I'd
• 9:46
  bring
• 9:46
  Up
• 9:47
  is
• 9:47
  I,
• 9:47
  you
• 9:48
  know,
• 9:48
  I
• 9:48
  think,
• 9:48
  I
• 9:48
  think
• 9:49
  the
• 9:49
  story
• 9:49
  and
• 9:49
  the
• 9:50
  reason
• 9:50
  I
• 9:50
  asked
• 9:50
  that
• 9:50
  question
• 9:50
  is
• 9:51
  I
• 9:51
  think
• 9:51
  it
• 9:51
  says
• 9:51
  a
• 9:51
  lot
• 9:51
  about
• 9:51
  the
• 9:52
  grocery
• 9:52
  industry
• 9:52
  too
• 9:54
  because
• 9:54
  you
• 9:54
  know,
• 9:54
  groceries
• 9:55
  in
• 9:55
  a
• 9:55
  tough
• 9:55
  spot,
• 9:56
  it's
• 9:56
  only
• 9:57
  going
• 9:57
  to
• 9:57
  get
• 9:57
  worse.
• 9:57
  As
• 9:57
  I've
• 9:58
  talked
• 9:58
  about
• 9:58
  on
• 9:58
  this
• 9:58
  show
• 9:59
  many,
• 9:59
  many
• 9:59
  times
• 10:00
  with
• 10:00
  you
• 10:00
  and
• 10:00
  with
• 10:00
  others.
• 10:01
  And
• 10:02
  you
• 10:02
  know,
• 10:02
  when
• 10:03
  I
• 10:03
  look
• 10:03
  at
• 10:03
  it
• 10:03
  from
• 10:03
  Giant
• 10:03
  Eagle's
• 10:04
  perspective,
• 10:04
  I
• 10:04
  have
• 10:04
  to
• 10:04
  look,
• 10:05
  you
• 10:05
  know,
• 10:05
  I
• 10:05
  think
• 10:05
  it's
• 10:05
  important
• 10:06
  to
• 10:06
  think
• 10:06
  about
• 10:06
  the
• 10:06
  motivations
• 10:07
  here
• 10:07
  too.
• 10:08
  You
• 10:08
  have
• 10:08
  a
• 10:08
  very
• 10:09
  successfully
• 10:10
  run
• 10:10
  family
• 10:10
  organization
• 10:11
  in
• 10:11
  Giant
• 10:12
  Eagle.
• 10:12
  I
• 10:13
  mean
• 10:13
  I
• 10:13
  can
• 10:13
  Even
• 10:13
  remember
• 10:14
  at
• 10:14
  FMI
• 10:14
  back
• 10:15
  in
• 10:15
  2019,
• 10:15
  I
• 10:15
  had
• 10:16
  the
• 10:16
  privilege
• 10:16
  of
• 10:16
  going
• 10:17
  on
• 10:17
  right
• 10:17
  before
• 10:19
  presenting
• 10:19
  to
• 10:19
  the
• 10:19
  audience,
• 10:20
  right
• 10:20
  before
• 10:20
  CEO
• 10:21
  Laura
• 10:21
  Shapira
• 10:22
  Carrot,
• 10:23
  who's
• 10:23
  part
• 10:23
  of
• 10:23
  the
• 10:24
  original
• 10:24
  Carrot
• 10:24
  family,
• 10:25
  which
• 10:25
  is
• 10:25
  one
• 10:25
  of
• 10:25
  the
• 10:25
  original
• 10:26
  founding
• 10:26
  families
• 10:26
  of
• 10:27
  John
• 10:27
  Eagle.
• 10:27
  I
• 10:27
  heard
• 10:27
  her
• 10:28
  speak
• 10:28
  and
• 10:28
  she
• 10:28
  was
• 10:29
  talking
• 10:29
  about
• 10:29
  the,
• 10:30
  the
• 10:31
  family
• 10:31
  owned
• 10:31
  nature
• 10:32
  of
• 10:32
  the
• 10:32
  business
• 10:32
  was
• 10:32
  very
• 10:33
  palpable
• 10:33
  in
• 10:33
  what
• 10:33
  she's
• 10:34
  saying.
• 10:34
  So
• 10:34
  basically
• 10:34
  you
• 10:35
  have
• 10:35
  a
• 10:35
  nine
• 10:35
  billion
• 10:35
  dollar
• 10:36
  family
• 10:36
  run
• 10:36
  organization
• 10:38
  crying
• 10:38
  uncle
• 10:39
  on
• 10:39
  what
• 10:39
  lies
• 10:39
  ahead.
• 10:40
  That's
• 10:40
  essentially
• 10:41
  what's
• 10:41
  happening
• 10:41
  here.
• 10:42
  So
• 10:42
  I
• 10:42
  read
• 10:42
  this
• 10:43
  as
• 10:43
  Giant
• 10:44
  Eagles
• 10:44
  leadership
• 10:46
  and
• 10:46
  shareholders
• 10:47
  are
• 10:47
  saying
• 10:48
  it's
• 10:48
  time
• 10:48
  to
• 10:48
  harvest
• 10:49
  and
• 10:49
  get
• 10:49
  out.
• 10:50
  And
• 10:50
  if
• 10:50
  Giant
• 10:50
  Eagle
• 10:51
  is
• 10:51
  doing
• 10:51
  it
• 10:52
  because
• 10:52
  they're
• 10:53
  one
• 10:53
  of
• 10:53
  the
• 10:53
  more
• 10:53
  successful
• 10:54
  players
• 10:54
  at
• 10:55
  making
• 10:55
  a
• 10:55
  go
• 10:55
  of
• 10:55
  it,
• 10:56
  you
• 10:56
  can
• 10:56
  expect
• 10:57
  a
• 10:57
  lot
• 10:57
  more
• 10:58
  of
• 10:58
  where
• 10:58
  this
• 10:58
  came
• 10:59
  from
• 10:59
  down
• 10:59
  the
• 10:59
  road
• 11:00
  here
• 11:00
  as
• 11:00
  we
• 11:00
  look
• 11:00
  out
• 11:00
  the
• 11:00
  next
• 11:01
  five,
• 11:01
  10
• 11:01
  years.
• 11:02
  Because
• 11:02
  the
• 11:02
  latest
• 11:02
  reports
• 11:03
  are,
• 11:03
  you
• 11:03
  said
• 11:03
  it
• 11:03
  already,
• 11:04
  Ben,
• 11:04
  Walmart
• 11:04
  has
• 11:05
  40%
• 11:05
  of
• 11:05
  the
• 11:05
  online
• 11:06
  US
• 11:06
  market,
• 11:07
  one
• 11:07
  hour
• 11:07
  delivery,
• 11:08
  one
• 11:08
  hour
• 11:09
  or
• 11:09
  less
• 11:09
  delivery
• 11:10
  is
• 11:10
  actually
• 11:10
  now
• 11:10
  making
• 11:10
  up
• 11:11
  18%
• 11:11
  of
• 11:12
  all
• 11:12
  grocery
• 11:12
  orders.
• 11:13
  Thank
• 11:13
  you
• 11:13
  Amazon.
• 11:14
  So
• 11:14
  Giant
• 11:15
  Eagle
• 11:15
  executives
• 11:16
  may
• 11:16
  be
• 11:16
  the
• 11:16
  smartest
• 11:17
  executives
• 11:18
  of
• 11:18
  the
• 11:18
  entire
• 11:19
  bunch
• 11:19
  here
• 11:19
  saying
• 11:20
  we
• 11:20
  see
• 11:20
  the
• 11:21
  writing
• 11:21
  on
• 11:21
  the
• 11:21
  wall,
• 11:22
  we're
• 11:22
  getting
• 11:22
  the
• 11:22
  hell
• 11:23
  out.
• 11:23
  And
• 11:23
  Kroger,
• 11:24
  you're
• 11:24
  going
• 11:24
  to
• 11:24
  be
• 11:24
  the
• 11:24
  one
• 11:24
  left
• 11:25
  holding
• 11:25
  the
• 11:25
  bag
• 11:26
  on
• 11:26
  what
• 11:26
  is
• 11:26
  potentially
• 11:26
  a
• 11:27
  depreciating
• 11:27
  asset.
• 11:28
  I
• 11:28
  mean,
• 11:28
  why
• 11:29
  else
• 11:29
  would
• 11:29
  a
• 11:29
  family
• 11:29
  owned
• 11:30
  business
• 11:30
  sell
• 11:31
  out?
• 11:32
  That's
• 11:32
  just
• 11:33
  my
• 11:33
  take
• 11:33
  here,
• 11:33
  Ben,
• 11:34
  but
• 11:34
  I
• 11:34
  don't
• 11:34
  know,
• 11:34
  you
• 11:34
  get
• 11:35
  the
• 11:35
  last
• 11:35
  word.
• 11:37
  I
• 11:37
  agree
• 11:37
  with
• 11:38
  all
• 11:38
  you've
• 11:38
  said.
• 11:39
  However,
• 11:39
  if
• 11:39
  you're
• 11:40
  sat
• 11:40
  in
• 11:41
  Kroger
• 11:41
  and
• 11:42
  Giant
• 11:42
  Eagle
• 11:42
  comes
• 11:43
  up
• 11:43
  on
• 11:43
  the
• 11:43
  table
• 11:45
  to
• 11:45
  potentially
• 11:46
  buy
• 11:46
  for
• 11:46
  9
• 11:47
  billion,
• 11:47
  do
• 11:48
  you
• 11:48
  say
• 11:48
  no
• 11:48
  and
• 11:49
  walk
• 11:49
  away
• 11:49
  from
• 11:49
  that?
• 11:50
  Personally,
• 11:51
  I
• 11:51
  think
• 11:52
  you
• 11:52
  don't.
• 11:52
  I
• 11:52
  think
• 11:52
  you
• 11:52
  buy
• 11:53
  it.
• 11:54
  Yeah,
• 11:55
  that,
• 11:55
  that
• 11:55
  brings
• 11:55
  up
• 11:56
  the,
• 11:56
  I
• 11:56
  don't
• 11:56
  know
• 11:56
  what
• 11:56
  the
• 11:56
  analogy
• 11:57
  is,
• 11:57
  but
• 11:57
  that
• 11:57
  means
• 11:58
  like
• 11:58
  when
• 11:58
  you're
• 11:58
  the
• 11:58
  only,
• 11:59
  like
• 11:59
  the
• 11:59
  only
• 11:59
  guy
• 12:00
  or
• 12:00
  girl
• 12:00
  at
• 12:00
  the
• 12:00
  prom
• 12:01
  or
• 12:01
  what
• 12:01
  are
• 12:01
  on
• 12:02
  the
• 12:02
  dance
• 12:02
  floor,
• 12:02
  do
• 12:02
  you
• 12:03
  take
• 12:03
  the
• 12:03
  Dance.
• 12:03
  I
• 12:03
  don't,
• 12:03
  I
• 12:04
  don't
• 12:04
  know
• 12:04
  what,
• 12:04
  but
• 12:04
  you
• 12:04
  guys
• 12:05
  know
• 12:05
  what,
• 12:05
  I'm
• 12:05
  totally
• 12:05
  screwing
• 12:06
  up
• 12:06
  this
• 12:06
  analogy.
• 12:07
  But
• 12:07
  like
• 12:08
  that's
• 12:08
  what
• 12:08
  it
• 12:08
  is.
• 12:09
  Like
• 12:09
  if
• 12:09
  you're
• 12:09
  the
• 12:09
  only
• 12:10
  suitor
• 12:11
  that's
• 12:11
  you,
• 12:11
  you
• 12:12
  know,
• 12:12
  that
• 12:12
  is
• 12:12
  available,
• 12:13
  like
• 12:13
  should
• 12:13
  you
• 12:14
  be
• 12:14
  the
• 12:14
  one
• 12:14
  signing
• 12:15
  up
• 12:15
  for
• 12:16
  the
• 12:16
  deal?
• 12:16
  I
• 12:16
  don't
• 12:17
  know.
• 12:17
  I
• 12:17
  don't
• 12:17
  know
• 12:17
  that.
• 12:19
  I,
• 12:19
  I,
• 12:19
  I
• 12:19
  don't,
• 12:19
  I
• 12:20
  don't,
• 12:20
  I,
• 12:21
  I,
• 12:21
  I
• 12:21
  don't
• 12:22
  think
• 12:22
  it's
• 12:22
  that
• 12:22
  bad.
• 12:23
  But
• 12:23
  we
• 12:23
  will
• 12:24
  see.
• 12:25
  Especially,
• 12:26
  especially
• 12:26
  too
• 12:26
  Ben
• 12:27
  though,
• 12:27
  like
• 12:27
  the
• 12:28
  other
• 12:28
  point
• 12:28
  of
• 12:28
  this
• 12:28
  too,
• 12:28
  which
• 12:29
  we
• 12:29
  didn't
• 12:29
  really
• 12:29
  talk
• 12:29
  about
• 12:30
  is
• 12:31
  foreign
• 12:32
  has
• 12:32
  said
• 12:33
  60
• 12:33
  of
• 12:33
  his
• 12:34
  store
• 12:34
  base
• 12:34
  is
• 12:35
  not
• 12:35
  where
• 12:35
  he
• 12:35
  needs
• 12:35
  it
• 12:36
  to
• 12:36
  be.
• 12:36
  And
• 12:36
  now
• 12:37
  he's
• 12:37
  got
• 12:37
  that
• 12:37
  the
• 12:37
  distraction
• 12:38
  of
• 12:38
  an
• 12:38
  acquisition
• 12:39
  and
• 12:39
  bringing
• 12:39
  them
• 12:39
  into
• 12:40
  the
• 12:40
  fold.
• 12:40
  Like,
• 12:41
  I
• 12:42
  don't
• 12:42
  know,
• 12:42
  like
• 12:42
  it
• 12:43
  just
• 12:43
  gets
• 12:43
  real
• 12:43
  dicey
• 12:44
  real
• 12:44
  quick.
• 12:44
  But
• 12:44
  anyway,
• 12:45
  let's
• 12:45
  keep
• 12:45
  rolling.
• 12:46
  Okay,
• 12:47
  we're
• 12:47
  going
• 12:47
  to
• 12:47
  move
• 12:47
  on
• 12:47
  to
• 12:47
  headline
• 12:48
  number
• 12:48
  two.
• 12:48
  And
• 12:48
  this
• 12:48
  is
• 12:49
  brought
• 12:49
  to
• 12:49
  you
• 12:49
  by
• 12:49
  Miracle,
• 12:50
  the
• 12:50
  catalyst
• 12:51
  of
• 12:51
  Commerce.
• 12:52
  Over
• 12:53
  450
• 12:54
  retailers
• 12:55
  are
• 12:55
  opening
• 12:55
  new
• 12:56
  revenue
• 12:56
  streams
• 12:57
  with
• 12:57
  marketplaces,
• 12:58
  dropship
• 12:59
  and
• 12:59
  retail
• 13:00
  media.
• 13:00
  And
• 13:01
  succeeding
• 13:02
  with
• 13:02
  Miracle,
• 13:03
  you
• 13:03
  can
• 13:03
  unlock
• 13:03
  more
• 13:04
  products,
• 13:04
  more
• 13:05
  partners
• 13:05
  and
• 13:05
  more
• 13:06
  profits
• 13:06
  without
• 13:07
  the
• 13:07
  heavy
• 13:07
  lifting.
• 13:08
  So
• 13:08
  what's
• 13:08
  holding
• 13:09
  you
• 13:09
  back?
• 13:09
  Visit
• 13:10
  miracle.com
• 13:11
  to
• 13:11
  learn
• 13:12
  more.
• 13:12
  All
• 13:13
  right,
• 13:13
  Chris,
• 13:13
  headline
• 13:13
  number
• 13:14
  two.
• 13:14
  Amazon
• 13:15
  Web
• 13:15
  Services
• 13:16
  is
• 13:16
  investing
• 13:17
  1
• 13:17
  billion
• 13:17
  U.S.
• 13:18
  to
• 13:19
  create
• 13:19
  a
• 13:19
  forward
• 13:20
  deployed
• 13:21
  engineering
• 13:22
  organization
• 13:23
  that
• 13:23
  embeds
• 13:24
  teams
• 13:24
  of
• 13:25
  AWS
• 13:25
  engineers
• 13:26
  directly
• 13:27
  inside
• 13:28
  customer
• 13:28
  businesses
• 13:29
  to
• 13:29
  build
• 13:29
  and
• 13:30
  deploy
• 13:31
  production
• 13:32
  AI
• 13:32
  systems.
• 13:34
  So
• 13:34
  according
• 13:34
  to
• 13:34
  Chainstore
• 13:35
  Age,
• 13:35
  these
• 13:35
  AWS
• 13:36
  frontier
• 13:37
  teams
• 13:38
  work
• 13:38
  inside
• 13:38
  a
• 13:39
  customer's
• 13:39
  own
• 13:39
  business
• 13:41
  with
• 13:41
  engineering
• 13:42
  and
• 13:42
  security
• 13:42
  teams
• 13:43
  building
• 13:43
  with
• 13:44
  the
• 13:44
  customer's
• 13:45
  data
• 13:45
  governance
• 13:45
  and
• 13:46
  processes.
• 13:48
  AWS
• 13:49
  claims.
• 13:49
  Amazon
• 13:50
  claims
• 13:51
  the
• 13:51
  AWS
• 13:51
  FDE
• 13:52
  forward
• 13:53
  deployed
• 13:53
  engineering
• 13:54
  teams
• 13:54
  can
• 13:55
  cut
• 13:55
  AI
• 13:56
  deployment
• 13:56
  timelines
• 13:57
  from
• 13:58
  months
• 13:59
  today's
• 14:00
  and
• 14:00
  the
• 14:00
  program
• 14:00
  is
• 14:01
  explicitly
• 14:02
  designed
• 14:02
  so
• 14:02
  customers
• 14:03
  are
• 14:03
  self
• 14:03
  sufficient
• 14:04
  once
• 14:04
  the
• 14:05
  engagement
• 14:05
  ends.
• 14:06
  Chris,
• 14:07
  where
• 14:07
  does
• 14:07
  this
• 14:07
  AWS
• 14:08
  fully
• 14:09
  deployed
• 14:09
  engineering
• 14:09
  news
• 14:11
  signal
• 14:12
  about
• 14:12
  the
• 14:12
  AI
• 14:13
  arms
• 14:14
  race
• 14:14
  within
• 14:15
  retail?
• 14:16
  Ooh,
• 14:17
  the
• 14:17
  AI
• 14:17
  arms
• 14:17
  race.
• 14:18
  That's
• 14:18
  a
• 14:18
  cool
• 14:18
  phrase,
• 14:18
  Ben.
• 14:20
  Well,
• 14:22
  it
• 14:22
  tells
• 14:22
  me
• 14:22
  that
• 14:23
  the
• 14:23
  AI
• 14:23
  arms
• 14:24
  race
• 14:24
  isn't
• 14:24
  about
• 14:24
  what
• 14:25
  model
• 14:25
  you're
• 14:25
  using
• 14:25
  anymore.
• 14:26
  Like
• 14:26
  that,
• 14:27
  that
• 14:27
  you
• 14:27
  can
• 14:27
  basically
• 14:28
  pick
• 14:28
  one
• 14:28
  at
• 14:28
  this
• 14:29
  point.
• 14:30
  But
• 14:30
  the
• 14:30
  key
• 14:30
  is
• 14:31
  really
• 14:31
  getting
• 14:32
  used
• 14:32
  to
• 14:33
  using
• 14:33
  one
• 14:33
  inside
• 14:34
  of
• 14:34
  your
• 14:34
  organization
• 14:35
  as
• 14:35
  quickly
• 14:35
  as
• 14:36
  possible
• 14:36
  for
• 14:36
  maximum
• 14:37
  impact.
• 14:37
  That's
• 14:38
  what's
• 14:38
  happening
• 14:38
  here
• 14:39
  and
• 14:39
  that's
• 14:39
  why
• 14:40
  AWS
• 14:41
  and
• 14:41
  others
• 14:41
  are
• 14:41
  taking
• 14:42
  this
• 14:42
  approach.
• 14:44
  And
• 14:45
  the
• 14:45
  problem
• 14:45
  with
• 14:45
  that
• 14:45
  is
• 14:45
  that
• 14:46
  the
• 14:46
  average
• 14:46
  retailer
• 14:47
  doesn't
• 14:47
  know
• 14:47
  how
• 14:47
  to
• 14:47
  figure
• 14:48
  this
• 14:48
  out
• 14:48
  on
• 14:48
  their
• 14:48
  own,
• 14:49
  like
• 14:49
  how
• 14:49
  to
• 14:49
  actually
• 14:50
  stand
• 14:51
  up
• 14:51
  the
• 14:51
  agents
• 14:51
  that
• 14:51
  are
• 14:52
  going
• 14:52
  to
• 14:52
  do
• 14:52
  the
• 14:53
  work
• 14:53
  on
• 14:53
  the
• 14:54
  data
• 14:54
  and
• 14:55
  information
• 14:56
  that
• 14:56
  the
• 14:56
  retailer
• 14:57
  has
• 14:57
  because,
• 14:57
  like
• 14:58
  we
• 14:58
  learn
• 14:58
  like,
• 14:59
  like,
• 14:59
  I
• 14:59
  think
• 14:59
  I
• 14:59
  talked
• 15:00
  about
• 15:00
  this
• 15:00
  in
• 15:00
  the
• 15:00
  Shop
• 15:00
  Talk
• 15:01
  Europe
• 15:01
  takeaways,
• 15:02
  you
• 15:02
  know,
• 15:02
  podcast.
• 15:03
  Like
• 15:03
  an
• 15:03
  agent
• 15:04
  is
• 15:04
  like
• 15:04
  your
• 15:04
  employee
• 15:05
  on
• 15:05
  day
• 15:05
  one.
• 15:06
  You
• 15:06
  have
• 15:06
  to
• 15:06
  give
• 15:06
  it
• 15:07
  the
• 15:07
  right
• 15:07
  training
• 15:08
  to
• 15:08
  make
• 15:08
  it
• 15:08
  successful.
• 15:09
  And
• 15:09
  so
• 15:10
  that's
• 15:10
  fundamentally
• 15:11
  what's
• 15:11
  happening
• 15:11
  here
• 15:11
  is
• 15:12
  Amazon
• 15:12
  is
• 15:12
  saying,
• 15:12
  like,
• 15:13
  look,
• 15:13
  we
• 15:13
  realize
• 15:14
  now
• 15:14
  you
• 15:14
  need
• 15:14
  engineering
• 15:15
  help
• 15:16
  to
• 15:16
  make
• 15:16
  that
• 15:16
  work
• 15:17
  and
• 15:17
  the
• 15:17
  average
• 15:18
  retailer
• 15:18
  is
• 15:18
  not
• 15:18
  going
• 15:18
  to
• 15:18
  be
• 15:18
  able
• 15:19
  to
• 15:19
  figure
• 15:19
  this
• 15:19
  out
• 15:19
  on
• 15:19
  their
• 15:20
  own
• 15:20
  and,
• 15:20
  and
• 15:20
  therefore
• 15:21
  the
• 15:21
  money
• 15:21
  is
• 15:21
  flowing
• 15:22
  in
• 15:22
  this
• 15:22
  direction
• 15:23
  to
• 15:24
  not
• 15:24
  only
• 15:25
  justify,
• 15:25
  I'd
• 15:25
  almost
• 15:26
  say
• 15:26
  help
• 15:26
  justify
• 15:27
  what
• 15:28
  people
• 15:28
  think
• 15:28
  is
• 15:29
  a
• 15:29
  big
• 15:29
  opportunity.
• 15:30
  So
• 15:30
  like
• 15:30
  the
• 15:30
  money's
• 15:30
  still
• 15:31
  flowing
• 15:32
  and
• 15:32
  you
• 15:32
  know,
• 15:33
  we
• 15:33
  haven't
• 15:34
  necessarily
• 15:34
  seen
• 15:35
  the
• 15:35
  Holy
• 15:35
  grail
• 15:36
  or
• 15:36
  the,
• 15:36
  the
• 15:37
  gold
• 15:37
  fall
• 15:37
  to
• 15:37
  the
• 15:37
  bottom
• 15:38
  line,
• 15:38
  you
• 15:38
  know,
• 15:38
  or
• 15:39
  whatever.
• 15:39
  The
• 15:39
  profit
• 15:39
  all
• 15:39
  fall
• 15:40
  the
• 15:40
  bottom
• 15:40
  line
• 15:40
  from
• 15:40
  AI's
• 15:41
  deployment.
• 15:41
  So
• 15:42
  like
• 15:42
  it's
• 15:42
  still
• 15:42
  rushing
• 15:43
  there
• 15:43
  and
• 15:44
  my
• 15:44
  hunch
• 15:44
  is
• 15:44
  it'll
• 15:45
  be
• 15:45
  there,
• 15:45
  but
• 15:45
  it's
• 15:45
  going
• 15:46
  to,
• 15:46
  I
• 15:46
  think
• 15:46
  it's
• 15:46
  smart
• 15:47
  that
• 15:47
  it's
• 15:47
  going
• 15:47
  to
• 15:47
  take
• 15:47
  efforts
• 15:47
  like
• 15:48
  this
• 15:48
  and
• 15:48
  I
• 15:48
  think
• 15:49
  the,
• 15:49
  the
• 15:49
  smart
• 15:49
  retailers
• 15:50
  would
• 15:50
  get
• 15:50
  behind
• 15:50
  it.
• 15:51
  They're
• 15:51
  probably
• 15:51
  not
• 15:51
  going
• 15:51
  to
• 15:51
  get
• 15:52
  behind
• 15:52
  it
• 15:52
  with
• 15:52
  aws,
• 15:53
  which
• 15:53
  is
• 15:53
  one
• 15:53
  of
• 15:53
  the
• 15:53
  interesting
• 15:54
  things
• 15:54
  about
• 15:54
  this
• 15:54
  announcement,
• 15:55
  but
• 15:55
  they
• 15:55
  got
• 15:55
  to
• 15:56
  get
• 15:56
  behind
• 15:56
  this
• 15:56
  approach,
• 15:57
  I
• 15:57
  think,
• 15:57
  with
• 15:58
  other
• 15:58
  folks
• 15:59
  if
• 15:59
  they're
• 15:59
  not
• 15:59
  going
• 15:59
  to
• 15:59
  use
• 16:00
  aws.
• 16:01
  Yeah,
• 16:01
  I
• 16:02
  agree,
• 16:02
  I
• 16:02
  agree.
• 16:02
  Look,
• 16:04
  crucial
• 16:04
  to
• 16:05
  AI
• 16:05
  success
• 16:05
  is
• 16:06
  adoption
• 16:06
  and
• 16:07
  context.
• 16:08
  And
• 16:08
  context
• 16:09
  is
• 16:09
  the
• 16:09
  bit
• 16:09
  that
• 16:09
  still
• 16:10
  isn't
• 16:10
  being
• 16:10
  discussed
• 16:11
  enough
• 16:11
  across
• 16:11
  the
• 16:11
  industry.
• 16:12
  Right.
• 16:12
  You
• 16:12
  know,
• 16:12
  tailoring
• 16:13
  models,
• 16:14
  training
• 16:15
  them
• 16:15
  to
• 16:15
  your
• 16:15
  specific
• 16:16
  businesses.
• 16:17
  And
• 16:18
  my
• 16:18
  assumption
• 16:18
  is
• 16:19
  that
• 16:19
  context
• 16:19
  and
• 16:19
  this
• 16:20
  context
• 16:20
  layer
• 16:20
  is
• 16:21
  absolutely
• 16:21
  built
• 16:21
  into
• 16:22
  this.
• 16:23
  The
• 16:23
  fact
• 16:23
  that
• 16:23
  Amazon
• 16:24
  feels
• 16:24
  the
• 16:24
  need
• 16:24
  to
• 16:25
  invest
• 16:25
  a
• 16:25
  billion
• 16:26
  in
• 16:26
  this
• 16:26
  initiative
• 16:27
  absolutely
• 16:28
  highlights
• 16:28
  the
• 16:28
  importance
• 16:29
  of
• 16:29
  this
• 16:29
  unlock.
• 16:30
  And
• 16:31
  they'll
• 16:31
  only
• 16:31
  be
• 16:32
  doing
• 16:32
  this
• 16:32
  if
• 16:32
  AWS
• 16:33
  had
• 16:33
  seen
• 16:34
  this
• 16:34
  was
• 16:34
  a
• 16:34
  barrier,
• 16:34
  that
• 16:35
  they
• 16:35
  needed
• 16:35
  to
• 16:36
  do
• 16:36
  this
• 16:36
  to
• 16:36
  drive
• 16:37
  adoption
• 16:37
  and
• 16:37
  to
• 16:38
  help
• 16:38
  their
• 16:38
  customers.
• 16:39
  So.
• 16:39
  Completely
• 16:40
  agree.
• 16:40
  I
• 16:40
  think
• 16:41
  it's
• 16:41
  also
• 16:41
  quite
• 16:42
  fun
• 16:42
  that
• 16:42
  it's
• 16:42
  follows
• 16:43
  the
• 16:43
  Kroger
• 16:43
  story
• 16:44
  so
• 16:44
  quickly.
• 16:46
  So
• 16:47
  many
• 16:47
  people
• 16:47
  across
• 16:47
  the
• 16:47
  industry
• 16:48
  have
• 16:48
  had
• 16:48
  so
• 16:49
  much
• 16:49
  to
• 16:49
  say
• 16:49
  about
• 16:50
  Kroger's
• 16:50
  potential
• 16:51
  acquisition
• 16:51
  and
• 16:51
  that's
• 16:52
  kind
• 16:52
  of
• 16:52
  1.6
• 16:53
  billion
• 16:53
  of
• 16:53
  spend.
• 16:54
  And
• 16:54
  here's
• 16:54
  Amazon
• 16:55
  saying,
• 16:55
  yeah,
• 16:55
  we're
• 16:56
  going
• 16:56
  to
• 16:56
  spend
• 16:56
  a
• 16:56
  billion
• 16:56
  on
• 16:57
  this.
• 16:57
  To
• 16:58
  which
• 16:58
  most
• 16:58
  people
• 16:58
  go,
• 16:58
  yeah,
• 16:58
  that
• 16:59
  sounds
• 16:59
  good,
• 16:59
  and
• 17:00
  then
• 17:00
  move
• 17:00
  on.
• 17:00
  And
• 17:00
  this,
• 17:01
  this
• 17:01
  is
• 17:02
  the
• 17:02
  great
• 17:02
  concentration
• 17:03
  in
• 17:03
  action,
• 17:03
  isn't
• 17:04
  it,
• 17:05
  that
• 17:05
  there
• 17:05
  are
• 17:05
  things
• 17:06
  that
• 17:06
  it's
• 17:06
  possible
• 17:07
  for
• 17:07
  Amazon
• 17:07
  and
• 17:08
  Walmart
• 17:08
  to
• 17:08
  do
• 17:08
  that
• 17:08
  others.
• 17:09
  And
• 17:09
  let's
• 17:09
  be
• 17:09
  honest,
• 17:10
  Kroger's
• 17:10
  not
• 17:10
  small.
• 17:11
  Just
• 17:11
  yesterday
• 17:12
  the
• 17:12
  NRF
• 17:12
  ranked
• 17:13
  it
• 17:13
  as
• 17:13
  a
• 17:13
  number
• 17:13
  four
• 17:13
  retailer
• 17:14
  in
• 17:14
  the
• 17:14
  whole
• 17:14
  of
• 17:14
  the
• 17:14
  US
• 17:15
  So
• 17:15
  I
• 17:16
  think
• 17:16
  that's
• 17:16
  an
• 17:16
  interesting
• 17:16
  point.
• 17:17
  But
• 17:17
  yeah,
• 17:17
  it's
• 17:18
  telling
• 17:19
  this
• 17:19
  story
• 17:19
  for
• 17:20
  me
• 17:20
  that
• 17:20
  AI
• 17:20
  adoption
• 17:21
  is
• 17:21
  not
• 17:21
  easy
• 17:23
  and
• 17:23
  you
• 17:23
  need
• 17:24
  experts
• 17:24
  and
• 17:24
  you
• 17:25
  need
• 17:25
  help.
• 17:25
  Otherwise
• 17:25
  you're
• 17:26
  just
• 17:26
  not
• 17:26
  going
• 17:26
  to
• 17:26
  unlock
• 17:26
  that
• 17:27
  potential.
• 17:28
  Yeah.
• 17:28
  I
• 17:28
  think
• 17:29
  it
• 17:29
  also
• 17:29
  tells
• 17:29
  you
• 17:29
  about
• 17:29
  the
• 17:29
  relative
• 17:30
  profit
• 17:30
  of
• 17:30
  software
• 17:31
  versus
• 17:32
  running
• 17:32
  physical
• 17:33
  stores
• 17:33
  too.
• 17:34
  Particularly
• 17:34
  physical
• 17:35
  grocery.
• 17:35
  Particularly
• 17:35
  grocery.
• 17:35
  Right.
• 17:36
  When
• 17:36
  you
• 17:36
  put
• 17:36
  it
• 17:36
  in
• 17:36
  context.
• 17:37
  Right?
• 17:37
  Yeah.
• 17:37
  Right.
• 17:38
  100%.
• 17:39
  All
• 17:39
  right.
• 17:39
  Headline
• 17:40
  number
• 17:40
  three.
• 17:40
  Headline
• 17:41
  number
• 17:41
  three
• 17:41
  is
• 17:41
  brought
• 17:41
  to
• 17:41
  you
• 17:42
  by
• 17:42
  Corso.
• 17:42
  Your
• 17:43
  stores
• 17:43
  are
• 17:43
  full
• 17:43
  of
• 17:44
  data,
• 17:44
  but
• 17:44
  are
• 17:44
  your
• 17:44
  teams
• 17:45
  acting
• 17:45
  on
• 17:45
  it?
• 17:45
  Corso
• 17:46
  turns
• 17:46
  retail
• 17:47
  data
• 17:47
  into
• 17:47
  personalized
• 17:48
  daily
• 17:48
  to
• 17:48
  dos
• 17:49
  that
• 17:49
  drive
• 17:49
  sales,
• 17:49
  reduce
• 17:50
  waste
• 17:50
  and
• 17:50
  improve
• 17:51
  execution.
• 17:51
  No
• 17:52
  fluff,
• 17:52
  just
• 17:52
  action.
• 17:53
  Help
• 17:53
  your
• 17:53
  managers
• 17:54
  focus
• 17:54
  on
• 17:54
  what
• 17:54
  matters
• 17:55
  most.
• 17:55
  Visit
• 17:55
  corso.com
• 17:56
  to
• 17:57
  see
• 17:57
  Intelligent
• 17:57
  Management
• 17:58
  in
• 17:58
  Motion.
• 17:59
  Headline
• 17:59
  number
• 17:59
  three.
• 18:00
  Lowe's
• 18:00
  has
• 18:00
  integrated
• 18:01
  its
• 18:01
  third
• 18:01
  party
• 18:01
  marketplace
• 18:02
  directly
• 18:03
  into
• 18:03
  My
• 18:03
  Red
• 18:04
  Vest,
• 18:05
  the
• 18:05
  software
• 18:05
  its
• 18:06
  store
• 18:06
  associates
• 18:07
  use
• 18:07
  to
• 18:07
  help
• 18:07
  customers
• 18:07
  place
• 18:08
  orders,
• 18:08
  letting
• 18:09
  shoppers
• 18:09
  buy
• 18:09
  Marketplace
• 18:10
  only
• 18:10
  items
• 18:11
  like
• 18:11
  above
• 18:11
  ground
• 18:11
  pools
• 18:12
  and
• 18:12
  even
• 18:13
  even
• 18:13
  Ben
• 18:14
  decorative
• 18:15
  geese.
• 18:15
  Yes,
• 18:16
  that
• 18:16
  was
• 18:16
  called
• 18:16
  out
• 18:17
  in
• 18:17
  the
• 18:17
  press
• 18:17
  release.
• 18:18
  And
• 18:19
  you
• 18:19
  can
• 18:19
  get
• 18:19
  these
• 18:19
  for
• 18:19
  home
• 18:20
  delivery
• 18:20
  from
• 18:21
  inside
• 18:21
  any
• 18:22
  of
• 18:22
  its
• 18:22
  more
• 18:23
  than
• 18:23
  1700
• 18:24
  stores.
• 18:24
  What's
• 18:25
  good
• 18:25
  for
• 18:25
  the
• 18:25
  goose
• 18:25
  is
• 18:26
  good
• 18:26
  for
• 18:26
  the
• 18:26
  gander
• 18:27
  at
• 18:27
  Lowe's,
• 18:27
  according
• 18:28
  to
• 18:28
  Modern
• 18:28
  retail.
• 18:29
  The
• 18:29
  integration
• 18:29
  lets
• 18:29
  associates
• 18:30
  search
• 18:30
  marketplace
• 18:31
  products
• 18:31
  alongside
• 18:32
  Lowe's
• 18:32
  own
• 18:32
  inventory
• 18:33
  and
• 18:33
  complete
• 18:34
  the
• 18:34
  purchase
• 18:34
  in
• 18:34
  store
• 18:35
  with
• 18:35
  the
• 18:35
  items
• 18:35
  shipped
• 18:36
  to
• 18:36
  the
• 18:36
  customer's
• 18:36
  home.
• 18:37
  Lowe's
• 18:37
  VP
• 18:38
  of
• 18:38
  Marketplace,
• 18:38
  Michael
• 18:39
  McClusk.
• 18:40
  Michael
• 18:40
  McCluskey
• 18:41
  said
• 18:41
  the
• 18:41
  goal
• 18:41
  is
• 18:41
  for
• 18:42
  customers
• 18:42
  to
• 18:42
  not
• 18:42
  even
• 18:43
  know
• 18:43
  whether
• 18:43
  an
• 18:44
  item
• 18:44
  is
• 18:44
  1p
• 18:44
  or
• 18:45
  3p.
• 18:45
  They're
• 18:46
  just
• 18:46
  looking
• 18:46
  for
• 18:47
  the
• 18:47
  right
• 18:47
  solution.
• 18:47
  And
• 18:48
  I
• 18:48
  100
• 18:49
  agree
• 18:49
  with
• 18:49
  Michael
• 18:50
  in
• 18:50
  his
• 18:50
  sentiment.
• 18:51
  The
• 18:51
  future
• 18:51
  has
• 18:51
  already
• 18:52
  reached
• 18:52
  about
• 18:52
  97%
• 18:53
  of
• 18:53
  stores
• 18:53
  and
• 18:54
  will
• 18:54
  be
• 18:54
  chain
• 18:54
  wide
• 18:55
  within
• 18:55
  weeks.
• 18:56
  Lowe's
• 18:56
  says
• 18:56
  it's
• 18:57
  already
• 18:57
  exceeding
• 18:57
  internal
• 18:58
  expectations
• 18:59
  for
• 18:59
  store
• 18:59
  driven
• 19:00
  sales
• 19:00
  just
• 19:00
  weeks
• 19:01
  after
• 19:01
  launch.
• 19:02
  Ben,
• 19:02
  is
• 19:02
  Lowe's
• 19:03
  onto
• 19:03
  something
• 19:03
  here
• 19:04
  with
• 19:04
  enabling
• 19:04
  its
• 19:05
  store
• 19:05
  associates
• 19:05
  to
• 19:06
  to
• 19:06
  sell
• 19:06
  Marketplace
• 19:06
  products
• 19:07
  in
• 19:07
  store?
• 19:08
  What
• 19:08
  do
• 19:08
  you
• 19:08
  think
• 19:08
  of
• 19:09
  this
• 19:09
  move?
• 19:09
  Yeah,
• 19:10
  of
• 19:10
  course
• 19:10
  it's
• 19:11
  onto
• 19:11
  something.
• 19:11
  I
• 19:11
  know.
• 19:12
  Okay,
• 19:13
  all
• 19:13
  right.
• 19:13
  I
• 19:14
  like
• 19:14
  it.
• 19:14
  I.
• 19:15
  I
• 19:15
  like
• 19:15
  it
• 19:15
  for
• 19:16
  Lowe's
• 19:17
  because
• 19:17
  home
• 19:18
  improvement
• 19:18
  is
• 19:18
  high.
• 19:19
  Touch.
• 19:19
  Yes.
• 19:21
  Both
• 19:21
  Lowe's
• 19:21
  and
• 19:22
  Home
• 19:22
  Depot
• 19:23
  invest
• 19:23
  in
• 19:24
  their
• 19:24
  store
• 19:24
  teams
• 19:25
  as
• 19:25
  a
• 19:25
  key
• 19:25
  point
• 19:25
  of
• 19:25
  difference.
• 19:26
  People
• 19:26
  know
• 19:27
  to
• 19:27
  go
• 19:27
  and
• 19:28
  ask
• 19:28
  for
• 19:28
  help.
• 19:29
  So
• 19:29
  the
• 19:29
  more
• 19:30
  you
• 19:30
  can
• 19:30
  do
• 19:30
  to
• 19:30
  empower
• 19:31
  those
• 19:31
  teams
• 19:32
  just
• 19:32
  feels
• 19:33
  like
• 19:33
  really
• 19:34
  good
• 19:34
  omnichannel
• 19:34
  retailing.
• 19:37
  And
• 19:37
  I
• 19:37
  think,
• 19:37
  look,
• 19:38
  we're
• 19:39
  all
• 19:39
  really
• 19:39
  used
• 19:39
  to
• 19:40
  sales
• 19:40
  experiences
• 19:41
  that
• 19:41
  start
• 19:41
  on
• 19:41
  the
• 19:42
  shop
• 19:42
  floor
• 19:42
  and
• 19:43
  continue
• 19:43
  online
• 19:44
  to
• 19:44
  access
• 19:44
  a
• 19:45
  wider
• 19:45
  assortment.
• 19:46
  So
• 19:46
  look,
• 19:46
  adding
• 19:47
  Marketplace
• 19:47
  is
• 19:48
  just
• 19:48
  for
• 19:49
  me,
• 19:49
  a
• 19:49
  logical
• 19:50
  extension
• 19:51
  of
• 19:51
  that.
• 19:51
  And
• 19:52
  it
• 19:52
  also
• 19:52
  removes
• 19:53
  a
• 19:53
  disconnect.
• 19:53
  Chris,
• 19:54
  if
• 19:54
  you're
• 19:55
  a
• 19:55
  shopper
• 19:55
  standing
• 19:56
  in
• 19:56
  a
• 19:56
  store,
• 19:56
  you've
• 19:57
  got
• 19:57
  the
• 19:57
  Lowe's
• 19:57
  app
• 19:58
  open
• 19:59
  and
• 19:59
  you're
• 20:00
  looking
• 20:00
  at
• 20:00
  an
• 20:00
  item
• 20:01
  that
• 20:02
  works
• 20:02
  for
• 20:02
  you,
• 20:02
  you
• 20:03
  know,
• 20:03
  you
• 20:03
  really
• 20:03
  want
• 20:04
  that
• 20:04
  goose
• 20:04
  because
• 20:05
  they
• 20:05
  are
• 20:05
  on
• 20:05
  trend
• 20:05
  right
• 20:06
  now,
• 20:06
  decorative
• 20:06
  geese.
• 20:07
  It
• 20:07
  makes
• 20:08
  no
• 20:08
  sense
• 20:08
  that
• 20:09
  the
• 20:09
  store
• 20:09
  team
• 20:09
  you're
• 20:09
  talking
• 20:10
  to
• 20:10
  can't
• 20:10
  help
• 20:10
  you
• 20:10
  with
• 20:11
  that.
• 20:11
  And,
• 20:12
  and
• 20:12
  that,
• 20:13
  you
• 20:13
  know,
• 20:13
  that
• 20:13
  undermines
• 20:14
  the
• 20:14
  store
• 20:15
  associates.
• 20:15
  So
• 20:16
  this
• 20:16
  is,
• 20:17
  it's
• 20:17
  great
• 20:17
  to
• 20:17
  see
• 20:18
  this
• 20:18
  investment.
• 20:18
  It's,
• 20:19
  it's
• 20:19
  a
• 20:19
  win
• 20:19
  for
• 20:20
  customers,
• 20:20
  access
• 20:20
  to
• 20:21
  a
• 20:21
  wider
• 20:21
  product
• 20:21
  range.
• 20:23
  Especially
• 20:24
  as
• 20:24
  Low
• 20:25
  said,
• 20:25
  they've
• 20:25
  more
• 20:26
  than
• 20:26
  double
• 20:26
  doubled
• 20:27
  their
• 20:27
  marketplace
• 20:27
  assortment
• 20:28
  in
• 20:28
  the
• 20:28
  last
• 20:28
  year.
• 20:30
  So
• 20:30
  big
• 20:31
  win
• 20:31
  for
• 20:31
  customers
• 20:32
  and
• 20:32
  it
• 20:32
  should
• 20:32
  be
• 20:32
  a
• 20:33
  big
• 20:33
  win
• 20:33
  for
• 20:33
  sellers
• 20:33
  as
• 20:34
  well.
• 20:34
  Building
• 20:34
  on
• 20:35
  those
• 20:35
  in
• 20:35
  store
• 20:35
  recommendations
• 20:36
  that
• 20:36
  I've
• 20:36
  got,
• 20:37
  I've
• 20:37
  got
• 20:37
  a
• 20:37
  slight
• 20:37
  watch
• 20:38
  out
• 20:38
  on
• 20:39
  execution
• 20:39
  to
• 20:40
  make
• 20:40
  sure
• 20:40
  that
• 20:40
  the
• 20:40
  store
• 20:41
  gets
• 20:41
  credit
• 20:42
  for
• 20:42
  these
• 20:42
  store
• 20:43
  driven
• 20:43
  sales.
• 20:45
  That's
• 20:45
  important
• 20:46
  at
• 20:46
  that,
• 20:46
  that
• 20:46
  last
• 20:46
  little
• 20:47
  bit.
• 20:47
  You
• 20:47
  know,
• 20:48
  if
• 20:48
  they
• 20:48
  haven't
• 20:48
  got
• 20:48
  that
• 20:48
  right,
• 20:48
  it'll
• 20:49
  disturb
• 20:49
  the
• 20:49
  flywheel.
• 20:50
  But,
• 20:50
  you
• 20:50
  know,
• 20:50
  it
• 20:50
  should
• 20:51
  be
• 20:52
  a
• 20:52
  win
• 20:52
  for
• 20:52
  all
• 20:52
  involved
• 20:53
  anyway.
• 20:53
  Look,
• 20:54
  Chris,
• 20:54
  I
• 20:54
  can
• 20:54
  see
• 20:54
  you
• 20:55
  nodding
• 20:55
  along.
• 20:56
  Do
• 20:57
  you
• 20:57
  like
• 20:57
  it?
• 20:57
  And
• 20:57
  if
• 20:58
  so,
• 20:58
  do
• 20:58
  you
• 20:58
  think
• 20:58
  more
• 20:58
  people
• 20:59
  should
• 20:59
  be
• 20:59
  doing
• 20:59
  this?
• 21:00
  Oh,
• 21:00
  I
• 21:01
  freaking
• 21:01
  love
• 21:01
  it.
• 21:02
  I
• 21:02
  freaking
• 21:02
  love
• 21:02
  it,
• 21:03
  Ben.
• 21:03
  I
• 21:03
  mean,
• 21:03
  you
• 21:03
  even
• 21:04
  got
• 21:04
  me
• 21:04
  thinking
• 21:04
  about
• 21:04
  something
• 21:04
  I
• 21:05
  hadn't
• 21:05
  thought
• 21:05
  about
• 21:05
  until
• 21:05
  we,
• 21:06
  we
• 21:06
  just
• 21:06
  started
• 21:06
  recording
• 21:07
  here,
• 21:07
  which
• 21:07
  is
• 21:07
  like.
• 21:08
  Yeah,
• 21:08
  when
• 21:08
  you,
• 21:08
  when
• 21:09
  you
• 21:09
  put
• 21:09
  the
• 21:10
  power
• 21:10
  of
• 21:10
  the
• 21:11
  recommendation
• 21:12
  in
• 21:12
  the
• 21:12
  hands
• 21:12
  of
• 21:12
  the
• 21:12
  associate
• 21:13
  for
• 21:13
  an
• 21:13
  online
• 21:13
  item,
• 21:14
  you
• 21:14
  could
• 21:14
  even
• 21:15
  trigger
• 21:15
  like
• 21:15
  a
• 21:15
  deal
• 21:16
  to
• 21:16
  get
• 21:16
  that
• 21:16
  sales
• 21:17
  associate
• 21:17
  to
• 21:17
  close
• 21:18
  the
• 21:18
  transaction
• 21:19
  right
• 21:19
  then
• 21:19
  and
• 21:19
  there
• 21:20
  with
• 21:20
  the
• 21:20
  customer,
• 21:20
  in
• 21:21
  theory.
• 21:21
  So,
• 21:21
  like,
• 21:22
  there's
• 21:22
  a
• 21:22
  whole
• 21:22
  range
• 21:22
  of
• 21:23
  things
• 21:23
  that
• 21:23
  happen
• 21:23
  from
• 21:24
  this.
• 21:25
  So
• 21:25
  I
• 21:26
  like
• 21:26
  it.
• 21:26
  But
• 21:26
  I
• 21:26
  think
• 21:26
  your
• 21:26
  point
• 21:27
  is
• 21:27
  really
• 21:27
  very,
• 21:28
  very
• 21:28
  shrewd,
• 21:29
  Ben,
• 21:29
  which
• 21:29
  is
• 21:30
  you
• 21:30
  like
• 21:30
  it
• 21:30
  because
• 21:31
  of
• 21:31
  the
• 21:31
  vertical.
• 21:32
  You
• 21:32
  like
• 21:32
  it
• 21:32
  because
• 21:33
  of
• 21:33
  the
• 21:33
  vertical
• 21:33
  that
• 21:33
  Lowe's
• 21:34
  operates
• 21:34
  in,
• 21:34
  which
• 21:34
  is
• 21:35
  home
• 21:35
  improvement.
• 21:35
  And,
• 21:36
  and
• 21:36
  again,
• 21:36
  which
• 21:37
  is
• 21:37
  one
• 21:37
  reason
• 21:37
  I
• 21:37
  love
• 21:37
  having
• 21:38
  you
• 21:38
  on
• 21:38
  this
• 21:38
  show
• 21:39
  as
• 21:39
  often
• 21:39
  as
• 21:39
  we
• 21:39
  do
• 21:40
  is
• 21:40
  you
• 21:40
  look
• 21:41
  to
• 21:41
  Europe.
• 21:41
  And,
• 21:42
  and
• 21:43
  I've
• 21:43
  interviewed
• 21:43
  executives
• 21:44
  from
• 21:44
  Kingfisher
• 21:45
  Leroy
• 21:45
  Merlin
• 21:46
  over
• 21:46
  the
• 21:46
  past
• 21:47
  two,
• 21:47
  three
• 21:47
  years
• 21:48
  and
• 21:48
  they've
• 21:48
  all
• 21:49
  talked
• 21:49
  about
• 21:49
  the
• 21:49
  advantages
• 21:50
  of
• 21:51
  taking
• 21:51
  this
• 21:51
  approach
• 21:52
  in
• 21:52
  their
• 21:52
  own
• 21:52
  stores.
• 21:53
  So
• 21:53
  you
• 21:53
  look
• 21:54
  to
• 21:54
  Europe.
• 21:54
  It's
• 21:54
  a
• 21:54
  great
• 21:55
  place
• 21:55
  to
• 21:55
  get
• 21:55
  benchmarking
• 21:56
  for
• 21:56
  what
• 21:56
  you
• 21:57
  should
• 21:57
  be
• 21:57
  doing
• 21:57
  in
• 21:58
  your
• 21:58
  store.
• 21:58
  And
• 21:58
  this
• 21:58
  is
• 21:59
  a
• 21:59
  great
• 21:59
  example
• 21:59
  of
• 21:59
  benchmarking
• 22:00
  marketplace
• 22:00
  practices.
• 22:01
  And
• 22:02
  so
• 22:02
  it
• 22:02
  works
• 22:02
  in
• 22:02
  the
• 22:02
  vertical
• 22:02
  because
• 22:03
  of
• 22:03
  home
• 22:03
  improvement.
• 22:03
  Right.
• 22:03
  It's
• 22:04
  high
• 22:04
  touch,
• 22:04
  high
• 22:05
  services,
• 22:06
  the
• 22:06
  employees
• 22:06
  are
• 22:07
  genuinely
• 22:07
  helpful.
• 22:08
  There
• 22:08
  are
• 22:09
  items
• 22:09
  that
• 22:09
  you
• 22:09
  need
• 22:09
  to
• 22:10
  complete
• 22:10
  your
• 22:10
  home
• 22:10
  renovation
• 22:11
  products,
• 22:11
  your
• 22:12
  decorative
• 22:13
  lawn
• 22:14
  chore
• 22:14
  that
• 22:14
  you
• 22:14
  need.
• 22:15
  You
• 22:15
  need
• 22:15
  those
• 22:15
  geese,
• 22:16
  like
• 22:16
  you
• 22:16
  said.
• 22:16
  And
• 22:17
  those
• 22:17
  items
• 22:17
  aren't
• 22:17
  always
• 22:18
  carried
• 22:18
  in
• 22:18
  store,
• 22:18
  nor
• 22:19
  should
• 22:19
  they
• 22:19
  be.
• 22:19
  So
• 22:20
  that
• 22:20
  is
• 22:20
  why
• 22:20
  this
• 22:20
  is
• 22:21
  going
• 22:21
  to
• 22:21
  work.
• 22:21
  Is
• 22:22
  it
• 22:22
  going
• 22:22
  to
• 22:22
  work
• 22:22
  in
• 22:22
  a
• 22:22
  Target
• 22:23
  or
• 22:23
  Walmart?
• 22:23
  Like
• 22:23
  what?
• 22:24
  I
• 22:24
  tell
• 22:24
  them
• 22:24
  to
• 22:24
  do
• 22:24
  the
• 22:25
  same
• 22:25
  thing.
• 22:25
  Absolutely.
• 22:26
  100%.
• 22:27
  No,
• 22:27
  I
• 22:28
  wouldn't.
• 22:28
  Because
• 22:29
  you
• 22:29
  don't
• 22:29
  have
• 22:29
  the
• 22:29
  same
• 22:30
  quality
• 22:30
  of
• 22:30
  service
• 22:31
  and
• 22:31
  the
• 22:31
  same
• 22:31
  types
• 22:31
  of
• 22:32
  interactions
• 22:32
  day
• 22:32
  in
• 22:32
  and
• 22:33
  day
• 22:33
  out.
• 22:33
  But
• 22:33
  would
• 22:33
  it
• 22:34
  work
• 22:34
  in
• 22:34
  like
• 22:34
  a
• 22:34
  Best
• 22:35
  Buy?
• 22:35
  100%,
• 22:36
  yes.
• 22:37
  100%,
• 22:37
  yes.
• 22:38
  I
• 22:38
  think
• 22:38
  it
• 22:38
  will.
• 22:38
  So.
• 22:39
  So
• 22:39
  that's
• 22:39
  where
• 22:40
  I
• 22:40
  think,
• 22:40
  you
• 22:40
  know,
• 22:40
  if
• 22:40
  you've
• 22:41
  got
• 22:41
  a
• 22:41
  high
• 22:41
  touch,
• 22:42
  high
• 22:42
  service
• 22:42
  environment
• 22:42
  and
• 22:43
  you're
• 22:43
  looking
• 22:43
  at
• 22:43
  a
• 22:43
  marketplace,
• 22:44
  this
• 22:44
  is
• 22:45
  a
• 22:45
  smart,
• 22:45
  smart
• 22:45
  extension.
• 22:47
  Interesting,
• 22:48
  interesting.
• 22:49
  So
• 22:49
  let's
• 22:50
  move
• 22:50
  on
• 22:50
  to
• 22:50
  headline
• 22:50
  number
• 22:51
  four,
• 22:51
  which
• 22:52
  is
• 22:52
  brought
• 22:53
  to
• 22:53
  you
• 22:53
  by
• 22:53
  Ocampo
• 22:54
  Capital.
• 22:55
  Ocampo
• 22:55
  Capital
• 22:56
  is
• 22:56
  a
• 22:57
  venture
• 22:57
  capital
• 22:57
  firm
• 22:58
  founded
• 22:59
  by
• 22:59
  retail
• 22:59
  executives
• 23:00
  with
• 23:00
  the
• 23:00
  aim
• 23:01
  of
• 23:01
  helping
• 23:01
  early
• 23:01
  stage
• 23:02
  consumer
• 23:02
  businesses
• 23:03
  succeed
• 23:03
  through
• 23:04
  investment
• 23:04
  and
• 23:05
  operational
• 23:05
  support.
• 23:06
  So
• 23:06
  learn
• 23:06
  more@ocampocapital.com
• 23:10
  right,
• 23:10
  here
• 23:10
  we
• 23:10
  go.
• 23:10
  Chris,
• 23:11
  we've
• 23:11
  got
• 23:11
  to
• 23:11
  go
• 23:11
  deep
• 23:12
  in
• 23:12
  New
• 23:12
  Jersey
• 23:12
  now
• 23:12
  because
• 23:13
  headline
• 23:13
  number
• 23:13
  four,
• 23:14
  New
• 23:14
  Jersey
• 23:15
  has
• 23:15
  passed
• 23:15
  a
• 23:16
  bipartisan
• 23:17
  Fair
• 23:18
  Price
• 23:18
  Protection
• 23:19
  act
• 23:20
  which
• 23:20
  would
• 23:20
  ban
• 23:21
  grocery
• 23:22
  stores
• 23:22
  and
• 23:23
  third
• 23:24
  party
• 23:24
  delivery
• 23:24
  platforms
• 23:25
  from
• 23:26
  using
• 23:26
  AI
• 23:27
  or
• 23:27
  so
• 23:28
  called
• 23:28
  consumer
• 23:29
  surveillance
• 23:30
  data
• 23:31
  to
• 23:31
  charge
• 23:32
  shoppers
• 23:32
  different
• 23:33
  prices
• 23:33
  for
• 23:34
  the
• 23:34
  same
• 23:34
  items.
• 23:35
  And
• 23:35
  it
• 23:35
  also
• 23:36
  also
• 23:36
  imposes
• 23:37
  a
• 23:37
  one
• 23:38
  year
• 23:38
  moratorium
• 23:39
  on
• 23:39
  on
• 23:40
  new
• 23:40
  electronic
• 23:40
  shelf
• 23:41
  edge
• 23:41
  label
• 23:42
  installations.
• 23:44
  So
• 23:44
  according
• 23:44
  to
• 23:45
  Progressive
• 23:45
  Grocer,
• 23:46
  the
• 23:46
  bill
• 23:47
  now
• 23:47
  sits
• 23:48
  on
• 23:48
  Governor
• 23:49
  Mickey
• 23:49
  Sherrell's
• 23:50
  desk
• 23:51
  and
• 23:51
  I
• 23:51
  hope
• 23:51
  I
• 23:51
  pronounced
• 23:52
  her
• 23:52
  name
• 23:52
  correctly.
• 23:53
  I
• 23:53
  think
• 23:53
  you
• 23:53
  did,
• 23:53
  yeah.
• 23:54
  Amazing.
• 23:55
  She
• 23:55
  was
• 23:55
  previously
• 23:56
  called
• 23:56
  surveillance
• 23:57
  pricing
• 23:58
  outrageous
• 23:59
  and
• 23:59
  is
• 23:59
  expected
• 23:59
  to
• 24:00
  sign
• 24:00
  the
• 24:00
  bill.
• 24:01
  The
• 24:01
  law
• 24:01
  bans
• 24:02
  pricing
• 24:02
  the
• 24:02
  varies
• 24:04
  based
• 24:04
  on
• 24:05
  biometric
• 24:05
  monitoring,
• 24:06
  genetic
• 24:07
  information
• 24:08
  or
• 24:08
  protected
• 24:08
  class
• 24:09
  data,
• 24:09
  but
• 24:10
  carves
• 24:10
  out
• 24:10
  exceptions
• 24:11
  for
• 24:11
  loyalty
• 24:12
  programs
• 24:13
  and
• 24:13
  clearly
• 24:14
  disclose
• 24:15
  group
• 24:15
  discounts
• 24:16
  such
• 24:16
  as
• 24:16
  teachers,
• 24:16
  seniors,
• 24:17
  vets,
• 24:17
  et
• 24:17
  cetera.
• 24:19
  Retailers
• 24:20
  that
• 24:20
  already
• 24:21
  have
• 24:21
  ESLs
• 24:22
  installed
• 24:22
  can
• 24:22
  keep
• 24:22
  using
• 24:23
  them
• 24:23
  during
• 24:23
  the
• 24:23
  one
• 24:23
  year
• 24:24
  moratorium
• 24:25
  while
• 24:25
  the
• 24:25
  state
• 24:25
  studies
• 24:26
  their
• 24:26
  link
• 24:27
  to
• 24:27
  so
• 24:28
  called
• 24:28
  surveillance
• 24:29
  pricing.
• 24:31
  The
• 24:31
  nga,
• 24:31
  the
• 24:32
  National
• 24:32
  Grocers
• 24:32
  association,
• 24:33
  has
• 24:33
  pushed
• 24:33
  back
• 24:34
  arguing
• 24:34
  that
• 24:34
  independent
• 24:35
  grocers
• 24:36
  do
• 24:36
  not
• 24:36
  use
• 24:36
  algorithmic
• 24:37
  or
• 24:37
  search
• 24:38
  pricing
• 24:38
  models
• 24:39
  and
• 24:39
  cause
• 24:39
  ESL
• 24:40
  simply
• 24:40
  a
• 24:41
  modern
• 24:41
  replacement
• 24:42
  for
• 24:42
  paper
• 24:43
  price
• 24:43
  tags.
• 24:45
  Chris,
• 24:46
  this
• 24:46
  is
• 24:46
  the
• 24:46
  A
• 24:47
  and
• 24:47
  M
• 24:47
  put
• 24:47
  you
• 24:47
  on
• 24:47
  the
• 24:47
  spot
• 24:48
  question
• 24:48
  for
• 24:49
  this
• 24:49
  week.
• 24:50
  Okay.
• 24:51
  Okay,
• 24:51
  here
• 24:51
  we
• 24:51
  go.
• 24:51
  Now
• 24:52
  that
• 24:52
  lawmakers
• 24:53
  are
• 24:53
  involved
• 24:53
  in
• 24:54
  the
• 24:54
  AI
• 24:54
  pricing
• 24:54
  debate
• 24:55
  to
• 24:55
  the
• 24:55
  point
• 24:56
  where
• 24:56
  it's
• 24:56
  affecting
• 24:57
  retail
• 24:57
  efficiency
• 24:58
  levers
• 24:59
  like
• 24:59
  ESLs,
• 25:00
  where
• 25:01
  do
• 25:01
  you
• 25:01
  side
• 25:01
  under
• 25:01
  Debate
• 25:02
  pro
• 25:02
  freedom
• 25:03
  of
• 25:03
  pricing
• 25:04
  flexibility
• 25:05
  for
• 25:05
  grocery
• 25:05
  retailers
• 25:06
  or
• 25:06
  pro
• 25:07
  protection
• 25:08
  for
• 25:08
  the
• 25:08
  consumer
• 25:09
  against
• 25:10
  it.
• 25:11
  Oh,
• 25:11
  man.
• 25:11
  I
• 25:12
  don't
• 25:12
  know
• 25:12
  if
• 25:12
  I'll
• 25:12
  take
• 25:12
  up
• 25:12
  the
• 25:13
  dichotomy
• 25:13
  there,
• 25:14
  but,
• 25:14
  you
• 25:14
  know,
• 25:15
  I
• 25:15
  think
• 25:15
  that
• 25:16
  this
• 25:16
  announcement's
• 25:17
  really
• 25:17
  important.
• 25:18
  And
• 25:18
  the
• 25:19
  first
• 25:19
  half
• 25:19
  of
• 25:19
  what
• 25:19
  you
• 25:20
  read,
• 25:20
  I'm
• 25:20
  fine
• 25:20
  with
• 25:20
  like
• 25:21
  biometric
• 25:21
  monitoring
• 25:22
  genetic
• 25:23
  information.
• 25:23
  Like,
• 25:23
  nobody
• 25:24
  should
• 25:24
  be
• 25:24
  using
• 25:24
  genetic
• 25:25
  information
• 25:25
  to
• 25:25
  price
• 25:26
  anything.
• 25:26
  You
• 25:26
  know,
• 25:27
  like,
• 25:27
  that's
• 25:27
  just
• 25:27
  a,
• 25:27
  that's,
• 25:28
  that's
• 25:28
  a
• 25:28
  fine
• 25:29
  line
• 25:29
  that
• 25:29
  I
• 25:29
  don't
• 25:29
  think
• 25:29
  anyone
• 25:30
  wants
• 25:30
  to
• 25:30
  go
• 25:30
  down.
• 25:31
  So
• 25:31
  all
• 25:31
  that
• 25:31
  jazz,
• 25:32
  100%,
• 25:33
  I'm
• 25:33
  good
• 25:33
  with
• 25:33
  it
• 25:34
  because.
• 25:34
  And
• 25:34
  the
• 25:35
  other
• 25:35
  thing
• 25:35
  too
• 25:35
  is
• 25:35
  that's
• 25:35
  really
• 25:36
  an
• 25:36
  online
• 25:36
  proposition.
• 25:37
  You're
• 25:37
  doing
• 25:37
  that
• 25:37
  in
• 25:37
  an
• 25:38
  online
• 25:38
  game.
• 25:39
  You
• 25:39
  know,
• 25:39
  you're
• 25:39
  not
• 25:40
  doing
• 25:40
  that
• 25:40
  in
• 25:40
  store
• 25:41
  pricing.
• 25:41
  Store
• 25:42
  pricing
• 25:42
  doesn't
• 25:42
  work
• 25:43
  that
• 25:43
  way.
• 25:43
  The
• 25:43
  mechanics
• 25:44
  of
• 25:44
  it
• 25:44
  are
• 25:44
  too
• 25:44
  complicated.
• 25:45
  So
• 25:45
  what
• 25:46
  I'm
• 25:46
  really
• 25:46
  resolutely
• 25:47
  against,
• 25:48
  resolutely
• 25:49
  against
• 25:50
  is
• 25:50
  conflating
• 25:51
  electronic
• 25:51
  shelf
• 25:52
  labels
• 25:52
  with
• 25:52
  all
• 25:52
  that
• 25:53
  activity,
• 25:54
  because
• 25:54
  it
• 25:54
  just
• 25:54
  doesn't
• 25:55
  happen
• 25:55
  inside
• 25:56
  of
• 25:56
  a
• 25:56
  retail
• 25:56
  organization.
• 25:57
  No
• 25:57
  grocer
• 25:58
  in
• 25:58
  their
• 25:58
  right
• 25:59
  mind,
• 25:59
  in
• 26:00
  their
• 26:00
  right
• 26:00
  mind
• 26:00
  is
• 26:00
  going
• 26:01
  to
• 26:01
  change
• 26:01
  prices,
• 26:02
  change
• 26:02
  prices
• 26:03
  on
• 26:03
  shelves
• 26:04
  while
• 26:04
  consumers
• 26:05
  are
• 26:05
  shopping
• 26:06
  the
• 26:06
  aisles.
• 26:07
  The
• 26:07
  fallout
• 26:08
  from
• 26:08
  that
• 26:08
  type
• 26:09
  of
• 26:09
  activity
• 26:09
  would
• 26:09
  be
• 26:10
  absolutely
• 26:10
  insane.
• 26:11
  And
• 26:12
  to
• 26:12
  think
• 26:12
  that
• 26:13
  shows
• 26:14
  just
• 26:14
  how
• 26:14
  much
• 26:15
  to
• 26:15
  even
• 26:16
  consider
• 26:16
  that
• 26:17
  shows
• 26:17
  just
• 26:17
  how
• 26:17
  much
• 26:18
  politics
• 26:18
  and
• 26:19
  the
• 26:19
  unions
• 26:19
  are
• 26:19
  involved
• 26:20
  in
• 26:20
  this
• 26:20
  discussion.
• 26:21
  And
• 26:22
  the
• 26:22
  moratorium
• 26:23
  on
• 26:23
  electronic
• 26:24
  shelf
• 26:24
  labels
• 26:24
  makes
• 26:25
  me
• 26:25
  sad
• 26:25
  because
• 26:26
  it
• 26:26
  is
• 26:26
  what
• 26:26
  I
• 26:27
  have
• 26:27
  said
• 26:27
  over
• 26:27
  and
• 26:28
  over
• 26:28
  again
• 26:28
  for
• 26:29
  the
• 26:29
  past
• 26:29
  nine
• 26:29
  years
• 26:30
  since
• 26:30
  creating
• 26:30
  Omnitalk.
• 26:31
  It
• 26:31
  to
• 26:31
  me
• 26:31
  is
• 26:32
  the
• 26:32
  number
• 26:32
  one
• 26:33
  technology
• 26:33
  that
• 26:34
  helps
• 26:34
  grocers
• 26:34
  compete
• 26:35
  with
• 26:35
  Amazon.
• 26:36
  The
• 26:36
  benefits
• 26:37
  are
• 26:37
  so
• 26:37
  multifold.
• 26:38
  You've
• 26:38
  got
• 26:38
  labor
• 26:39
  savings,
• 26:39
  you've
• 26:39
  got
• 26:39
  pick
• 26:40
  to
• 26:40
  like
• 26:40
  capabilities.
• 26:41
  But
• 26:41
  most
• 26:41
  importantly,
• 26:42
  and
• 26:42
  I'll
• 26:42
  say
• 26:43
  this,
• 26:43
  till
• 26:43
  the
• 26:43
  cows
• 26:43
  come
• 26:44
  home,
• 26:44
  you
• 26:44
  get
• 26:44
  marked
• 26:45
  to
• 26:45
  market
• 26:46
  pricing.
• 26:47
  So
• 26:47
  how
• 26:47
  do
• 26:47
  the
• 26:47
  state
• 26:48
  representatives
• 26:49
  think
• 26:49
  grocers
• 26:50
  are
• 26:50
  going
• 26:50
  to
• 26:50
  compete
• 26:50
  with
• 26:50
  Amazon
• 26:51
  when
• 26:51
  Amazon
• 26:52
  can
• 26:52
  change
• 26:52
  their
• 26:53
  prices
• 26:53
  anytime
• 26:54
  they
• 26:54
  want
• 26:54
  to,
• 26:55
  whether
• 26:55
  or
• 26:55
  not
• 26:55
  they're
• 26:55
  doing
• 26:56
  surveillance
• 26:56
  pricing
• 26:57
  or
• 26:57
  not,
• 26:57
  they
• 26:57
  can
• 26:57
  still
• 26:58
  change
• 26:58
  them
• 26:58
  whenever
• 26:59
  they
• 26:59
  want
• 26:59
  to
• 27:00
  while
• 27:00
  grocers
• 27:00
  are
• 27:01
  left
• 27:01
  running
• 27:01
  print
• 27:02
  jobs
• 27:02
  that
• 27:02
  take
• 27:03
  weeks
• 27:03
  and
• 27:03
  weeks
• 27:04
  to
• 27:04
  execute.
• 27:05
  So
• 27:05
  the,
• 27:06
  the
• 27:06
  arguments,
• 27:06
  positive
• 27:07
  to
• 27:07
  me,
• 27:07
  Ben,
• 27:08
  are
• 27:08
  just
• 27:08
  downright
• 27:09
  ridiculous.
• 27:10
  But
• 27:10
  what's
• 27:10
  your
• 27:11
  take?
• 27:12
  Yeah,
• 27:13
  Europe.
• 27:13
  Europe.
• 27:13
  Europe
• 27:14
  said
• 27:14
  you've
• 27:14
  had,
• 27:14
  you've
• 27:15
  had
• 27:15
  ESLs
• 27:16
  forever,
• 27:17
  you
• 27:17
  know,
• 27:17
  and,
• 27:18
  and
• 27:18
  you.
• 27:18
  And
• 27:18
  Europe
• 27:18
  is
• 27:19
  far
• 27:19
  more
• 27:19
  pro
• 27:19
  labor
• 27:20
  than
• 27:20
  the
• 27:20
  United
• 27:20
  States
• 27:21
  is
• 27:21
  too.
• 27:21
  So
• 27:21
  there's,
• 27:22
  there's
• 27:22
  this
• 27:22
  interesting,
• 27:23
  like,
• 27:23
  what
• 27:23
  the
• 27:24
  heck
• 27:24
  is
• 27:24
  going
• 27:24
  on
• 27:24
  here
• 27:25
  with
• 27:25
  this
• 27:25
  legislation?
• 27:26
  To
• 27:26
  me.
• 27:27
  Yeah.
• 27:27
  And
• 27:27
  I
• 27:27
  think
• 27:28
  that,
• 27:28
  I
• 27:28
  mean,
• 27:29
  there's
• 27:29
  an
• 27:29
  irony
• 27:29
  there,
• 27:30
  Chris.
• 27:30
  You
• 27:30
  know,
• 27:31
  do
• 27:32
  you
• 27:32
  know
• 27:32
  it
• 27:32
  was
• 27:32
  actually
• 27:33
  consumer
• 27:34
  protection
• 27:34
  legislation
• 27:35
  that
• 27:35
  drove
• 27:35
  the
• 27:35
  adoption
• 27:36
  of
• 27:37
  ESLs
• 27:37
  in
• 27:38
  Europe?
• 27:38
  No
• 27:38
  way.
• 27:39
  Really?
• 27:39
  Particularly
• 27:39
  France.
• 27:40
  Great
• 27:40
  context,
• 27:40
  Ben,
• 27:41
  great
• 27:41
  context.
• 27:42
  Because
• 27:42
  France
• 27:43
  has
• 27:43
  some
• 27:43
  of
• 27:43
  the
• 27:44
  strongest
• 27:44
  legislation
• 27:45
  around
• 27:45
  pricing
• 27:46
  irregularities
• 27:47
  with
• 27:48
  genuine
• 27:48
  meaningful
• 27:49
  fines.
• 27:50
  If
• 27:50
  you've
• 27:50
  got
• 27:50
  a
• 27:50
  difference
• 27:51
  between
• 27:51
  your
• 27:51
  on
• 27:52
  shelf
• 27:52
  price
• 27:52
  and
• 27:52
  what's
• 27:53
  actually
• 27:53
  charged
• 27:54
  at
• 27:54
  till
• 27:55
  and
• 27:55
  it
• 27:55
  comes
• 27:55
  complete
• 27:56
  with
• 27:56
  frequent
• 27:57
  inspections
• 27:58
  and
• 27:58
  a
• 27:58
  rigorous
• 27:59
  enforcement
• 28:00
  environment,
• 28:02
  put
• 28:02
  those
• 28:02
  together,
• 28:02
  that
• 28:03
  created
• 28:03
  the
• 28:04
  environment
• 28:05
  where
• 28:05
  the
• 28:05
  business
• 28:06
  case
• 28:06
  for
• 28:06
  ESLs,
• 28:07
  that
• 28:07
  is
• 28:07
  to
• 28:07
  ensure
• 28:08
  consistent
• 28:09
  pricing
• 28:10
  was
• 28:10
  tipped
• 28:11
  and
• 28:11
  it
• 28:11
  became
• 28:12
  more
• 28:12
  important
• 28:12
  for
• 28:13
  French
• 28:13
  grocers
• 28:13
  to
• 28:14
  put
• 28:14
  it
• 28:14
  in
• 28:14
  than
• 28:14
  the
• 28:15
  risk
• 28:15
  of
• 28:15
  fines.
• 28:15
  So
• 28:16
  that's,
• 28:16
  that's,
• 28:16
  that's
• 28:17
  what
• 28:17
  drove
• 28:17
  the
• 28:17
  development
• 28:19
  and
• 28:19
  so
• 28:19
  many
• 28:19
  ESL
• 28:20
  technologies
• 28:21
  were
• 28:21
  built
• 28:21
  out
• 28:21
  of
• 28:21
  France
• 28:22
  and
• 28:22
  that,
• 28:22
  that's
• 28:22
  why,
• 28:23
  that's
• 28:23
  why.
• 28:23
  Chris,
• 28:24
  so
• 28:24
  this
• 28:25
  goes,
• 28:25
  this
• 28:26
  goes
• 28:26
  to
• 28:26
  the
• 28:26
  heart
• 28:27
  of
• 28:27
  the
• 28:27
  story
• 28:28
  for
• 28:28
  me.
• 28:28
  Is
• 28:29
  this
• 28:29
  consumer
• 28:30
  protection
• 28:30
  legislation
• 28:31
  or
• 28:31
  is
• 28:31
  this
• 28:32
  a
• 28:32
  labor
• 28:33
  protection
• 28:34
  legislation?
• 28:35
  And
• 28:36
  if
• 28:36
  it's
• 28:36
  the
• 28:36
  latter,
• 28:36
  I
• 28:37
  mean
• 28:37
  that
• 28:37
  there
• 28:37
  is
• 28:37
  clearly
• 28:38
  an
• 28:38
  irony
• 28:38
  in
• 28:38
  that.
• 28:39
  Knowing
• 28:39
  how
• 28:39
  much
• 28:39
  in
• 28:39
  store
• 28:40
  teams
• 28:40
  hate
• 28:40
  having
• 28:40
  to
• 28:41
  manually
• 28:41
  change
• 28:42
  price
• 28:42
  labels.
• 28:44
  But
• 28:44
  I
• 28:44
  think,
• 28:44
  look,
• 28:45
  two
• 28:45
  elements.
• 28:46
  Firstly,
• 28:47
  should
• 28:47
  retailers
• 28:47
  and
• 28:48
  especially
• 28:48
  grocers
• 28:48
  be
• 28:48
  using
• 28:49
  dynamic
• 28:49
  pricing?
• 28:50
  And
• 28:50
  secondly,
• 28:51
  the
• 28:51
  case
• 28:51
  for
• 28:51
  legislation.
• 28:53
  Look,
• 28:53
  Chris,
• 28:53
  I'm
• 28:53
  not
• 28:54
  going
• 28:54
  to
• 28:54
  go
• 28:54
  into
• 28:54
  the
• 28:54
  latter
• 28:55
  genuinely.
• 28:56
  It's
• 28:56
  not
• 28:56
  my
• 28:56
  place
• 28:56
  to
• 28:56
  comment
• 28:57
  on
• 28:57
  the
• 28:57
  legislation
• 28:58
  that
• 28:58
  the
• 28:58
  good
• 28:58
  people
• 28:58
  of
• 28:59
  New
• 28:59
  Jersey
• 28:59
  want
• 28:59
  to
• 29:00
  enact.
• 29:00
  But
• 29:01
  I
• 29:02
  totally
• 29:02
  agree.
• 29:02
  The
• 29:03
  moratorium
• 29:03
  on
• 29:04
  ESL
• 29:04
  rollout
• 29:05
  is,
• 29:06
  it's
• 29:06
  a
• 29:06
  challenging
• 29:07
  precedent
• 29:08
  for
• 29:08
  retailers
• 29:08
  across
• 29:08
  the
• 29:09
  US
• 29:09
  who
• 29:09
  are
• 29:09
  battling
• 29:10
  to
• 29:10
  find
• 29:11
  appropriate
• 29:12
  efficiency
• 29:13
  savings.
• 29:13
  And
• 29:14
  I
• 29:14
  hope
• 29:15
  other
• 29:16
  retailers
• 29:16
  are
• 29:17
  listening,
• 29:17
  are
• 29:17
  paying
• 29:18
  attention
• 29:18
  and
• 29:19
  engaging
• 29:20
  with
• 29:20
  their
• 29:20
  representatives
• 29:21
  accordingly
• 29:22
  on
• 29:22
  this
• 29:22
  topic.
• 29:23
  Really
• 29:24
  important.
• 29:25
  Yeah,
• 29:26
  that
• 29:26
  is
• 29:26
  really
• 29:26
  excellent
• 29:27
  context,
• 29:27
  Ben,
• 29:28
  which
• 29:28
  is
• 29:28
  why
• 29:28
  it's
• 29:28
  so
• 29:29
  great
• 29:29
  having
• 29:29
  you
• 29:29
  on
• 29:29
  the
• 29:29
  show
• 29:30
  because
• 29:30
  you
• 29:30
  provide
• 29:30
  the
• 29:30
  context
• 29:31
  of
• 29:31
  like,
• 29:31
  hey,
• 29:32
  we've
• 29:32
  been
• 29:32
  down
• 29:32
  this
• 29:32
  road
• 29:33
  before.
• 29:33
  There
• 29:34
  are
• 29:34
  right
• 29:34
  and
• 29:34
  wrong
• 29:34
  answers
• 29:35
  to
• 29:35
  these
• 29:35
  questions
• 29:36
  when
• 29:36
  you
• 29:36
  look
• 29:36
  at
• 29:37
  them
• 29:38
  and
• 29:38
  you
• 29:38
  look
• 29:38
  at
• 29:38
  all
• 29:38
  the
• 29:39
  facts
• 29:39
  that
• 29:39
  are,
• 29:39
  that
• 29:40
  can
• 29:40
  be
• 29:40
  presented
• 29:41
  and
• 29:41
  you
• 29:42
  know,
• 29:42
  the
• 29:42
  France
• 29:42
  case
• 29:43
  is
• 29:43
  a
• 29:43
  great
• 29:43
  one
• 29:43
  to
• 29:44
  look
• 29:44
  at
• 29:44
  in
• 29:44
  terms
• 29:44
  of
• 29:44
  what's
• 29:45
  going
• 29:45
  on
• 29:45
  and
• 29:45
  what
• 29:45
  are
• 29:46
  you,
• 29:46
  what
• 29:46
  is
• 29:46
  the
• 29:46
  problem
• 29:46
  you're
• 29:46
  really
• 29:47
  trying
• 29:47
  to
• 29:47
  solve?
• 29:47
  If
• 29:47
  you're
• 29:48
  trying
• 29:48
  to
• 29:48
  solve
• 29:48
  dynamic
• 29:49
  pricing,
• 29:49
  solve
• 29:50
  dynamic
• 29:50
  pricing,
• 29:51
  but
• 29:51
  don't
• 29:51
  make
• 29:52
  electronic
• 29:52
  shelf
• 29:52
  labels
• 29:53
  the
• 29:53
  calling
• 29:54
  card
• 29:54
  for
• 29:54
  that
• 29:55
  issue
• 29:55
  because
• 29:56
  it's
• 29:57
  really
• 29:57
  a
• 29:57
  separate,
• 29:58
  it's
• 29:58
  really
• 29:59
  a
• 29:59
  separate
• 29:59
  topic
• 30:00
  for
• 30:00
  the
• 30:00
  most
• 30:00
  part.
• 30:02
  You
• 30:02
  know
• 30:02
  what
• 30:02
  Chris,
• 30:02
  My
• 30:03
  concern
• 30:03
  in
• 30:03
  bringing
• 30:03
  them
• 30:03
  together
• 30:04
  is,
• 30:04
  is
• 30:05
  it
• 30:05
  we
• 30:05
  potentially
• 30:06
  don't
• 30:06
  get
• 30:06
  the
• 30:06
  grown
• 30:07
  up
• 30:07
  conversation
• 30:07
  that
• 30:07
  we
• 30:08
  should
• 30:08
  be
• 30:08
  having
• 30:08
  about
• 30:08
  that
• 30:09
  dynamic
• 30:09
  pricing.
• 30:10
  Right?
• 30:11
  Yeah,
• 30:11
  look,
• 30:12
  consumers
• 30:12
  are,
• 30:13
  they
• 30:13
  used
• 30:13
  to
• 30:14
  paying
• 30:14
  more
• 30:14
  when
• 30:15
  things
• 30:15
  get
• 30:15
  scarce.
• 30:16
  So
• 30:16
  if
• 30:17
  I
• 30:17
  was
• 30:17
  in
• 30:17
  Miami
• 30:18
  this
• 30:18
  weekend
• 30:19
  and
• 30:20
  I
• 30:20
  wanted
• 30:20
  to
• 30:20
  try
• 30:20
  and
• 30:20
  get
• 30:21
  a
• 30:21
  ticket
• 30:21
  to
• 30:21
  see
• 30:21
  England
• 30:22
  play
• 30:22
  Norway.
• 30:23
  I
• 30:23
  understand
• 30:23
  that's
• 30:24
  going
• 30:24
  to
• 30:24
  cost
• 30:24
  me
• 30:25
  more
• 30:25
  because
• 30:25
  of
• 30:26
  scarcity.
• 30:26
  I
• 30:26
  understand
• 30:28
  the
• 30:28
  last
• 30:28
  seat
• 30:29
  on
• 30:29
  a
• 30:29
  flight
• 30:29
  will
• 30:30
  cost
• 30:30
  more
• 30:30
  than
• 30:30
  if
• 30:31
  a
• 30:31
  plane's
• 30:31
  half
• 30:31
  empty
• 30:32
  because
• 30:32
  it's
• 30:33
  finite.
• 30:34
  I
• 30:34
  might
• 30:34
  not
• 30:35
  love
• 30:35
  it,
• 30:35
  but
• 30:36
  I
• 30:36
  get
• 30:36
  it.
• 30:37
  There
• 30:37
  is
• 30:37
  absolutely
• 30:38
  no
• 30:38
  parallel
• 30:38
  to
• 30:39
  that
• 30:39
  in
• 30:39
  grocery
• 30:39
  retailing.
• 30:40
  No,
• 30:41
  not
• 30:41
  at
• 30:41
  shelf.
• 30:42
  Right.
• 30:42
  Not
• 30:42
  at
• 30:42
  shelf.
• 30:43
  No.
• 30:44
  We
• 30:45
  do
• 30:45
  an
• 30:45
  incredible
• 30:46
  job
• 30:46
  as
• 30:46
  an
• 30:47
  industry
• 30:47
  to
• 30:48
  avoid
• 30:48
  scarcity.
• 30:49
  You
• 30:49
  know,
• 30:49
  our
• 30:49
  stores
• 30:50
  frequently
• 30:50
  run
• 30:50
  with
• 30:51
  on
• 30:51
  shelf
• 30:51
  availability
• 30:52
  in
• 30:52
  the
• 30:52
  high
• 30:52
  90s,
• 30:53
  you
• 30:53
  know
• 30:54
  percent
• 30:54
  there
• 30:55
  is
• 30:55
  no
• 30:55
  last
• 30:56
  seat
• 30:56
  in
• 30:56
  the
• 30:56
  stadium
• 30:58
  equivalent.
• 30:58
  But
• 30:59
  if
• 31:00
  legislation,
• 31:02
  so
• 31:03
  look,
• 31:03
  legislation
• 31:04
  that
• 31:05
  wants
• 31:06
  to
• 31:06
  prevent
• 31:06
  charging
• 31:07
  individuals
• 31:08
  different
• 31:08
  prices
• 31:09
  for
• 31:09
  food
• 31:09
  at
• 31:10
  the
• 31:10
  same
• 31:10
  store
• 31:10
  in
• 31:11
  the
• 31:11
  same
• 31:11
  time.
• 31:12
  I
• 31:12
  mean
• 31:12
  even
• 31:13
  the
• 31:13
  prospect
• 31:14
  of
• 31:14
  doing
• 31:14
  that
• 31:14
  is
• 31:14
  so
• 31:14
  ethically
• 31:15
  wrong.
• 31:15
  No
• 31:15
  retailer
• 31:16
  would
• 31:17
  touch
• 31:17
  it
• 31:17
  with
• 31:17
  a
• 31:17
  barge
• 31:17
  pole.
• 31:18
  And
• 31:18
  no,
• 31:18
  that's,
• 31:19
  that,
• 31:19
  that's,
• 31:20
  that's
• 31:20
  fine.
• 31:21
  But
• 31:21
  what
• 31:21
  will
• 31:21
  be
• 31:22
  a
• 31:23
  shame,
• 31:23
  Chris,
• 31:23
  I'd
• 31:24
  love
• 31:24
  to
• 31:24
  hear
• 31:24
  your
• 31:24
  views
• 31:25
  on
• 31:25
  this
• 31:25
  is
• 31:26
  if
• 31:27
  there
• 31:27
  was
• 31:27
  such
• 31:27
  a
• 31:27
  backlash
• 31:28
  that
• 31:28
  it
• 31:28
  prevented
• 31:29
  retailers
• 31:29
  from
• 31:29
  using
• 31:30
  intelligent
• 31:31
  pricing
• 31:32
  for
• 31:32
  commercial
• 31:33
  or
• 31:33
  shopper
• 31:33
  advantage.
• 31:34
  Look,
• 31:34
  what,
• 31:35
  what
• 31:35
  do
• 31:35
  I
• 31:35
  mean?
• 31:35
  I,
• 31:36
  I
• 31:36
  don't
• 31:36
  have
• 31:36
  a
• 31:36
  problem
• 31:37
  if
• 31:37
  a
• 31:37
  grocer
• 31:38
  reduces
• 31:39
  the
• 31:39
  price
• 31:40
  of
• 31:40
  a
• 31:40
  product
• 31:40
  in
• 31:41
  certain
• 31:41
  stores
• 31:41
  in
• 31:42
  its
• 31:42
  portfolio
• 31:43
  because
• 31:43
  a
• 31:43
  competitor
• 31:44
  in
• 31:44
  catchments
• 31:45
  where
• 31:45
  it's
• 31:45
  overlapping
• 31:46
  has
• 31:46
  got
• 31:46
  some
• 31:46
  competitive
• 31:47
  activity
• 31:48
  and
• 31:49
  AI
• 31:50
  and
• 31:51
  shellfish
• 31:51
  labels
• 31:52
  is
• 31:52
  how
• 31:52
  you
• 31:52
  do
• 31:52
  that.
• 31:52
  I,
• 31:53
  I
• 31:53
  don't
• 31:53
  have
• 31:53
  a
• 31:53
  problem
• 31:54
  if
• 31:55
  a
• 31:55
  grocer
• 31:56
  wants
• 31:56
  to
• 31:56
  run
• 31:56
  some
• 31:57
  live
• 31:57
  A
• 31:57
  B
• 31:57
  tests
• 31:58
  across
• 31:59
  a
• 31:59
  couple
• 31:59
  of
• 31:59
  different
• 31:59
  stores
• 31:59
  in
• 32:00
  his
• 32:00
  portfolio
• 32:00
  to
• 32:00
  understand
• 32:01
  what
• 32:02
  the
• 32:02
  optimum
• 32:03
  markdown
• 32:03
  price
• 32:04
  versus
• 32:04
  full
• 32:04
  price
• 32:05
  is
• 32:05
  so
• 32:06
  it
• 32:06
  sells
• 32:07
  through,
• 32:07
  minimizes
• 32:08
  food
• 32:08
  waste.
• 32:08
  And
• 32:09
  again,
• 32:09
  you
• 32:09
  can
• 32:09
  only
• 32:10
  do
• 32:10
  that
• 32:10
  with
• 32:11
  AI
• 32:11
  and
• 32:11
  ESLs
• 32:12
  in
• 32:12
  a
• 32:12
  physical
• 32:12
  store
• 32:13
  environment.
• 32:13
  So
• 32:14
  limiting
• 32:15
  the
• 32:15
  ability
• 32:15
  to
• 32:16
  do
• 32:16
  some
• 32:16
  of
• 32:16
  these
• 32:16
  smart
• 32:17
  things,
• 32:19
  I,
• 32:19
  I
• 32:19
  feel
• 32:20
  that's
• 32:20
  a
• 32:20
  shame.
• 32:20
  But
• 32:20
  I'd
• 32:20
  love
• 32:20
  to,
• 32:21
  I'd
• 32:21
  love
• 32:21
  to
• 32:21
  hear
• 32:21
  your
• 32:22
  take
• 32:22
  on
• 32:22
  that.
• 32:22
  No,
• 32:23
  I,
• 32:23
  I
• 32:23
  100
• 32:23
  agree
• 32:24
  with
• 32:24
  you.
• 32:24
  I
• 32:24
  mean,
• 32:24
  and
• 32:25
  that's
• 32:25
  what's
• 32:25
  going
• 32:25
  to
• 32:25
  keep
• 32:25
  grocers
• 32:26
  profitable
• 32:26
  in
• 32:26
  the,
• 32:27
  and
• 32:27
  continuing
• 32:27
  to
• 32:27
  staff,
• 32:28
  you
• 32:28
  know,
• 32:29
  up
• 32:29
  and
• 32:29
  employ
• 32:30
  people
• 32:30
  in
• 32:30
  their
• 32:31
  local
• 32:31
  communities
• 32:31
  is
• 32:31
  having
• 32:32
  the
• 32:32
  ability
• 32:32
  and
• 32:32
  the
• 32:32
  triggers
• 32:33
  to
• 32:33
  do
• 32:33
  that.
• 32:33
  But
• 32:34
  the
• 32:34
  key
• 32:34
  point
• 32:34
  you're
• 32:34
  making,
• 32:34
  Ben,
• 32:35
  I
• 32:35
  think
• 32:35
  if
• 32:35
  we
• 32:35
  step
• 32:35
  back
• 32:36
  from
• 32:36
  all
• 32:36
  of
• 32:36
  it
• 32:36
  is
• 32:36
  like,
• 32:37
  you
• 32:37
  have
• 32:37
  to
• 32:37
  think
• 32:37
  about
• 32:37
  how
• 32:38
  this
• 32:38
  works
• 32:38
  in
• 32:38
  practice.
• 32:40
  No
• 32:40
  grocer,
• 32:41
  like
• 32:41
  I
• 32:41
  said
• 32:41
  before,
• 32:42
  no
• 32:42
  grocer
• 32:43
  is
• 32:43
  going
• 32:43
  to
• 32:43
  change
• 32:43
  the
• 32:44
  price
• 32:44
  when
• 32:44
  I'm
• 32:45
  standing
• 32:45
  in
• 32:45
  the
• 32:45
  aisle
• 32:45
  versus
• 32:46
  when
• 32:46
  you're
• 32:46
  standing
• 32:47
  in
• 32:47
  the
• 32:47
  aisle
• 32:47
  because
• 32:48
  the
• 32:48
  social
• 32:48
  media
• 32:49
  videos
• 32:49
  for
• 32:49
  that
• 32:50
  would
• 32:50
  be
• 32:51
  insane.
• 32:52
  Like
• 32:52
  no
• 32:53
  one
• 32:53
  is
• 32:53
  going
• 32:53
  to
• 32:53
  do
• 32:53
  that
• 32:54
  and
• 32:54
  no
• 32:54
  groceries
• 32:55
  probably
• 32:55
  even
• 32:55
  going
• 32:55
  to
• 32:55
  change
• 32:56
  anything
• 32:56
  in
• 32:57
  the
• 32:57
  store
• 32:57
  during
• 32:58
  the
• 32:58
  day.
• 32:58
  Unless
• 32:58
  it's
• 32:59
  like
• 32:59
  a
• 32:59
  dramatic
• 33:00
  promotion
• 33:00
  where
• 33:01
  everyone
• 33:01
  gets
• 33:02
  the
• 33:02
  benefit
• 33:02
  of
• 33:03
  that
• 33:04
  promotion.
• 33:04
  That's
• 33:05
  the
• 33:05
  only
• 33:05
  way
• 33:05
  this
• 33:05
  is
• 33:05
  going
• 33:06
  to
• 33:06
  happen.
• 33:06
  Otherwise
• 33:06
  prices
• 33:06
  are
• 33:06
  going
• 33:06
  to
• 33:07
  change
• 33:07
  overnight.
• 33:07
  They're
• 33:07
  going
• 33:07
  to
• 33:08
  update
• 33:08
  overnight
• 33:08
  just
• 33:09
  like
• 33:09
  they
• 33:09
  always
• 33:09
  do.
• 33:10
  Just
• 33:10
  like
• 33:10
  when
• 33:10
  they
• 33:10
  always
• 33:11
  put
• 33:11
  signs
• 33:11
  out,
• 33:11
  it's
• 33:12
  not
• 33:12
  going
• 33:12
  to
• 33:12
  be
• 33:12
  any
• 33:12
  different.
• 33:13
  And
• 33:13
  so
• 33:13
  that's
• 33:13
  why
• 33:13
  this
• 33:14
  is
• 33:14
  so
• 33:15
  misguided
• 33:15
  if
• 33:15
  you
• 33:15
  actually
• 33:16
  get
• 33:16
  to
• 33:16
  the
• 33:16
  actual
• 33:17
  operations
• 33:17
  of
• 33:18
  how
• 33:18
  retailing
• 33:19
  is
• 33:19
  done,
• 33:20
  you
• 33:21
  know,
• 33:21
  so
• 33:21
  that
• 33:22
  I
• 33:22
  don't
• 33:22
  know,
• 33:22
  but
• 33:22
  let's
• 33:22
  keep
• 33:23
  rolling.
• 33:23
  It's
• 33:23
  a
• 33:24
  great
• 33:24
  discussion.
• 33:24
  I
• 33:24
  love
• 33:25
  the
• 33:25
  context
• 33:25
  that
• 33:25
  you
• 33:26
  brought
• 33:26
  in
• 33:26
  from
• 33:26
  the
• 33:26
  Europe,
• 33:27
  Europe
• 33:27
  side
• 33:27
  too.
• 33:27
  Because
• 33:28
  like,
• 33:28
  yeah,
• 33:28
  you.
• 33:28
  What
• 33:29
  you
• 33:29
  actually
• 33:29
  want
• 33:29
  is
• 33:29
  to
• 33:29
  make
• 33:30
  sure
• 33:30
  people
• 33:30
  are
• 33:30
  getting
• 33:31
  the
• 33:31
  right
• 33:31
  prices
• 33:32
  too.
• 33:32
  Right.
• 33:32
  Which
• 33:33
  also
• 33:33
  ESLs
• 33:33
  help
• 33:34
  with.
• 33:34
  All
• 33:34
  right.
• 33:35
  Crazy.
• 33:35
  I.
• 33:35
  It's
• 33:36
  crazy.
• 33:36
  I
• 33:36
  can't
• 33:36
  believe
• 33:36
  we're
• 33:37
  even
• 33:37
  having
• 33:37
  this
• 33:37
  discussion.
• 33:37
  Some.
• 33:38
  In
• 33:38
  some
• 33:38
  ways.
• 33:38
  All
• 33:39
  right,
• 33:39
  headline
• 33:39
  number
• 33:39
  five
• 33:40
  is
• 33:40
  brought
• 33:40
  to
• 33:40
  you
• 33:40
  by
• 33:40
  voc.
• 33:41
  VLOC
• 33:42
  is
• 33:42
  a
• 33:42
  proven
• 33:42
  E
• 33:43
  grocery
• 33:43
  technology
• 33:43
  built
• 33:44
  by
• 33:44
  grocers
• 33:44
  for.
• 33:45
  For
• 33:45
  grocers,
• 33:45
  exactly
• 33:46
  the
• 33:46
  type
• 33:46
  of
• 33:46
  technology
• 33:47
  we
• 33:47
  like
• 33:47
  here
• 33:47
  at
• 33:48
  Omnitok.
• 33:48
  They
• 33:48
  unite
• 33:49
  proprietary
• 33:49
  software
• 33:50
  with
• 33:50
  right
• 33:50
  size
• 33:51
  automation
• 33:51
  to
• 33:51
  make
• 33:52
  same
• 33:52
  day
• 33:52
  delivery
• 33:53
  profitable.
• 33:53
  To
• 33:54
  learn
• 33:54
  more,
• 33:54
  visit
• 33:54
  veloc.
• 33:55
  Com,
• 33:56
  that's
• 33:56
  V
• 33:56
  E
• 33:57
  L
• 33:57
  O
• 33:57
  q
• 33:58
  dot
• 33:58
  com.
• 33:59
  All
• 33:59
  right,
• 33:59
  headline
• 34:00
  number
• 34:00
  five.
• 34:00
  Amazon
• 34:01
  is
• 34:01
  expanding
• 34:01
  its
• 34:01
  Alexa
• 34:02
  for
• 34:02
  Shopping
• 34:03
  agentic
• 34:03
  assistant
• 34:04
  to
• 34:04
  show
• 34:04
  customers
• 34:05
  up
• 34:05
  to
• 34:05
  30,
• 34:05
  90
• 34:06
  and
• 34:06
  365
• 34:07
  days
• 34:07
  of
• 34:07
  price
• 34:07
  history
• 34:08
  on
• 34:08
  any
• 34:08
  product,
• 34:09
  letting
• 34:09
  shoppers
• 34:10
  or
• 34:10
  Amazon's
• 34:10
  own
• 34:10
  AI
• 34:11
  verify
• 34:11
  whether
• 34:12
  a
• 34:12
  deal
• 34:12
  is
• 34:12
  actually
• 34:13
  a
• 34:13
  deal
• 34:13
  before
• 34:14
  buying.
• 34:14
  According
• 34:15
  to
• 34:15
  Chainstore
• 34:15
  H,
• 34:15
  customers
• 34:16
  can
• 34:16
  access
• 34:17
  price
• 34:17
  history
• 34:17
  two
• 34:17
  ways.
• 34:18
  One,
• 34:18
  by
• 34:19
  clicking
• 34:19
  a
• 34:19
  link
• 34:19
  right
• 34:20
  next
• 34:20
  to
• 34:20
  the
• 34:20
  price
• 34:20
  on
• 34:20
  a
• 34:21
  product
• 34:21
  page.
• 34:21
  Or
• 34:22
  two,
• 34:22
  by
• 34:22
  asking
• 34:23
  Alexa
• 34:23
  for
• 34:23
  shopping
• 34:24
  directly.
• 34:25
  Something
• 34:26
  like
• 34:26
  is
• 34:26
  this
• 34:27
  the
• 34:27
  lowest
• 34:27
  price
• 34:27
  recently?
• 34:28
  Wow.
• 34:29
  Price
• 34:29
  history
• 34:29
  is
• 34:29
  live
• 34:30
  for
• 34:30
  all
• 34:30
  US,
• 34:30
  UK,
• 34:31
  Canadian
• 34:31
  and
• 34:32
  Indian
• 34:32
  customers.
• 34:33
  As
• 34:33
  of
• 34:33
  today,
• 34:34
  the
• 34:34
  full365
• 34:36
  debut
• 34:36
  is
• 34:36
  rolling
• 34:36
  out
• 34:37
  in
• 34:37
  the
• 34:37
  US,
• 34:37
  UK
• 34:38
  and
• 34:38
  India.
• 34:38
  Over
• 34:39
  the
• 34:39
  coming
• 34:39
  weeks,
• 34:40
  band
• 34:40
  is
• 34:40
  giving
• 34:41
  customers
• 34:41
  a
• 34:41
  full
• 34:41
  year
• 34:41
  of
• 34:42
  price
• 34:42
  history.
• 34:42
  Help
• 34:42
  Amazon
• 34:43
  look
• 34:43
  more
• 34:44
  trustworthy?
• 34:45
  Or
• 34:45
  going
• 34:46
  back
• 34:46
  to
• 34:46
  the
• 34:46
  conversation
• 34:47
  that
• 34:47
  we
• 34:47
  just
• 34:47
  had
• 34:47
  to
• 34:48
  some
• 34:48
  degree.
• 34:48
  Does
• 34:49
  it
• 34:49
  invite
• 34:50
  more
• 34:50
  price
• 34:51
  scrutiny
• 34:51
  than
• 34:52
  Amazon
• 34:52
  wants?
• 34:53
  Yeah,
• 34:53
  Chris,
• 34:54
  that
• 34:54
  was
• 34:54
  my
• 34:54
  first
• 34:54
  reflection
• 34:55
  on
• 34:55
  this
• 34:55
  one.
• 34:55
  It's
• 34:55
  funny,
• 34:56
  this
• 34:56
  is
• 34:56
  coming
• 34:56
  after
• 34:56
  the
• 34:57
  last
• 34:57
  one
• 34:57
  because
• 34:57
  there's
• 34:58
  a
• 34:58
  retail
• 34:58
  reality,
• 34:58
  isn't
• 34:59
  it?
• 34:59
  Prices
• 35:00
  move.
• 35:01
  That's.
• 35:01
  That's
• 35:02
  what
• 35:02
  happens.
• 35:02
  Look
• 35:03
  for
• 35:04
  Amazon,
• 35:04
  I
• 35:04
  think
• 35:04
  it's
• 35:05
  a
• 35:05
  strong
• 35:05
  move.
• 35:06
  I
• 35:06
  think
• 35:06
  it's
• 35:06
  a
• 35:06
  strong
• 35:06
  move
• 35:07
  for
• 35:07
  a
• 35:07
  number
• 35:07
  of
• 35:07
  things.
• 35:08
  It
• 35:08
  keeps
• 35:08
  building
• 35:09
  their
• 35:09
  credentials
• 35:10
  as
• 35:11
  a
• 35:11
  trusted
• 35:11
  price
• 35:11
  leader.
• 35:12
  So
• 35:12
  price
• 35:12
  transparency
• 35:13
  is
• 35:13
  great
• 35:14
  and
• 35:14
  it
• 35:14
  especially
• 35:16
  sets
• 35:16
  them
• 35:16
  up
• 35:16
  for
• 35:16
  agent
• 35:17
  E
• 35:17
  Commerce.
• 35:17
  Price
• 35:18
  transparency.
• 35:19
  That's
• 35:19
  a
• 35:20
  big,
• 35:20
  big
• 35:21
  building
• 35:21
  block
• 35:21
  to
• 35:21
  get
• 35:21
  in
• 35:22
  place.
• 35:25
  There's
• 35:25
  a
• 35:25
  really
• 35:26
  significant
• 35:27
  direction
• 35:27
  of
• 35:27
  travel
• 35:28
  for
• 35:28
  Amazon
• 35:29
  sellers
• 35:29
  here
• 35:29
  and
• 35:30
  this
• 35:30
  is
• 35:30
  Amazon's
• 35:31
  continued
• 35:31
  investment
• 35:32
  in
• 35:32
  Alexa
• 35:32
  for
• 35:33
  shopping.
• 35:34
  Alexa
• 35:35
  for
• 35:35
  shopping
• 35:35
  continues
• 35:36
  to
• 35:36
  look
• 35:37
  like
• 35:37
  it
• 35:37
  will
• 35:38
  be
• 35:38
  the
• 35:38
  default
• 35:39
  way
• 35:39
  to
• 35:39
  navigate
• 35:40
  Amazon
• 35:40
  at
• 35:41
  some
• 35:41
  point
• 35:41
  in
• 35:41
  the
• 35:42
  future.
• 35:42
  So
• 35:43
  I
• 35:43
  think
• 35:43
  that's
• 35:44
  for
• 35:44
  me
• 35:45
  that's
• 35:45
  got
• 35:45
  huge
• 35:45
  read
• 35:46
  throughs
• 35:46
  and
• 35:47
  for
• 35:47
  Amazon
• 35:47
  sellers
• 35:48
  and
• 35:48
  brands
• 35:49
  really
• 35:50
  understanding
• 35:50
  how
• 35:51
  your
• 35:51
  product
• 35:51
  is
• 35:51
  discovered
• 35:52
  and
• 35:52
  how
• 35:52
  it
• 35:52
  shows
• 35:52
  up
• 35:53
  on
• 35:53
  Alexa
• 35:53
  for
• 35:53
  shopping
• 35:54
  is,
• 35:54
  is
• 35:54
  critical
• 35:55
  and
• 35:55
  how
• 35:55
  your,
• 35:56
  you
• 35:56
  know,
• 35:56
  how
• 35:56
  your
• 35:57
  AMS
• 35:57
  investment
• 35:58
  influences
• 35:58
  that.
• 35:58
  So
• 35:59
  that's
• 35:59
  one
• 35:59
  of
• 35:59
  my
• 35:59
  big
• 36:00
  takeaways
• 36:00
  from
• 36:00
  this.
• 36:01
  It's
• 36:02
  also
• 36:02
  important
• 36:02
  for
• 36:03
  Amazon
• 36:03
  sales
• 36:03
  to
• 36:03
  recognize
• 36:04
  there's
• 36:04
  even
• 36:04
  extended
• 36:05
  price
• 36:05
  visibility.
• 36:06
  Now
• 36:07
  they've
• 36:07
  been
• 36:07
  working
• 36:07
  with
• 36:07
  price
• 36:08
  visibility
• 36:08
  for
• 36:09
  a
• 36:09
  while,
• 36:10
  a
• 36:10
  year
• 36:10
  of
• 36:11
  possibility
• 36:11
  that
• 36:11
  brings
• 36:12
  in
• 36:12
  new
• 36:12
  categories,
• 36:12
  new
• 36:13
  seasonal
• 36:13
  products
• 36:14
  where
• 36:14
  the
• 36:14
  shorter
• 36:15
  time
• 36:15
  spans
• 36:15
  that
• 36:15
  it
• 36:16
  might
• 36:16
  have
• 36:16
  been
• 36:16
  of
• 36:16
  less
• 36:16
  relevant.
• 36:17
  So
• 36:17
  all
• 36:17
  sellers.
• 36:18
  I
• 36:18
  think
• 36:19
  it's
• 36:19
  really
• 36:19
  key.
• 36:20
  But
• 36:20
  no,
• 36:20
  I
• 36:21
  think
• 36:21
  it's
• 36:21
  a
• 36:21
  good
• 36:21
  move.
• 36:21
  But
• 36:21
  Chris,
• 36:22
  I'd
• 36:22
  love
• 36:22
  to
• 36:22
  hear
• 36:23
  your
• 36:23
  views
• 36:23
  on
• 36:23
  this
• 36:23
  one.
• 36:24
  Yeah,
• 36:24
  I
• 36:24
  mean
• 36:25
  I'm
• 36:25
  not
• 36:26
  super
• 36:26
  worried
• 36:26
  about
• 36:26
  the
• 36:27
  fallout
• 36:27
  from
• 36:27
  this,
• 36:28
  like
• 36:28
  the
• 36:28
  PR
• 36:28
  fallout
• 36:29
  from
• 36:29
  this
• 36:29
  because
• 36:29
  I
• 36:29
  think
• 36:29
  anytime
• 36:30
  you're
• 36:30
  showing
• 36:31
  consumers
• 36:31
  how
• 36:31
  to
• 36:32
  save
• 36:32
  money,
• 36:32
  I
• 36:33
  think
• 36:33
  it's
• 36:33
  kind
• 36:33
  of
• 36:33
  bulletproof.
• 36:34
  You
• 36:34
  know,
• 36:34
  at
• 36:35
  the
• 36:35
  end
• 36:35
  of
• 36:35
  the
• 36:35
  day,
• 36:35
  you
• 36:35
  know,
• 36:36
  like
• 36:36
  you're
• 36:36
  just
• 36:36
  saying
• 36:36
  like
• 36:36
  hey,
• 36:37
  here's
• 36:37
  the
• 36:37
  price
• 36:37
  and
• 36:38
  here's
• 36:38
  what
• 36:38
  it
• 36:38
  was
• 36:39
  before.
• 36:39
  I
• 36:39
  think
• 36:39
  consumers
• 36:40
  are
• 36:40
  generally
• 36:40
  going
• 36:40
  to
• 36:40
  be
• 36:41
  receptive
• 36:42
  to
• 36:42
  having
• 36:42
  that
• 36:43
  information
• 36:43
  because
• 36:44
  it
• 36:44
  helps
• 36:44
  them
• 36:45
  to
• 36:45
  save
• 36:45
  money.
• 36:45
  So
• 36:46
  for
• 36:46
  that
• 36:46
  reason
• 36:46
  alone,
• 36:47
  I
• 36:47
  like
• 36:47
  the
• 36:47
  move
• 36:47
  from
• 36:48
  Amazon.
• 36:49
  The
• 36:50
  other
• 36:50
  thing
• 36:50
  too,
• 36:50
  Ben,
• 36:50
  and
• 36:51
  you
• 36:51
  touched
• 36:51
  on
• 36:51
  this
• 36:51
  a
• 36:51
  little
• 36:52
  bit.
• 36:52
  I
• 36:52
  love
• 36:52
  it
• 36:53
  for
• 36:53
  the
• 36:53
  optionality
• 36:54
  it
• 36:54
  creates
• 36:54
  just
• 36:55
  as
• 36:55
  an
• 36:55
  experiment.
• 36:56
  So
• 36:56
  I
• 36:56
  think
• 36:56
  it's
• 36:56
  like
• 36:56
  a
• 36:56
  really
• 36:57
  good
• 36:57
  experiment
• 36:58
  to
• 36:58
  see
• 36:58
  what
• 36:59
  happens
• 36:59
  when
• 36:59
  you
• 36:59
  put
• 36:59
  it
• 37:00
  out
• 37:00
  there
• 37:00
  for
• 37:00
  your
• 37:01
  customer
• 37:01
  base
• 37:01
  because
• 37:01
  one,
• 37:02
  you
• 37:02
  can
• 37:02
  see
• 37:02
  how
• 37:02
  consumers
• 37:03
  react
• 37:03
  to
• 37:03
  it.
• 37:04
  But
• 37:04
  two,
• 37:04
  and
• 37:05
  you
• 37:05
  said
• 37:05
  this,
• 37:05
  you
• 37:06
  alluded
• 37:06
  to
• 37:06
  it.
• 37:06
  But
• 37:06
  to
• 37:06
  give
• 37:06
  it
• 37:07
  even
• 37:07
  more
• 37:07
  context,
• 37:08
  like
• 37:08
  it
• 37:08
  gives
• 37:09
  the
• 37:09
  scraping
• 37:10
  agents,
• 37:10
  you
• 37:10
  know,
• 37:11
  all
• 37:11
  the
• 37:11
  LLMs
• 37:12
  that
• 37:12
  are
• 37:12
  scraping
• 37:13
  data
• 37:13
  from
• 37:13
  sites,
• 37:14
  it
• 37:14
  gives
• 37:15
  them
• 37:15
  more
• 37:15
  info
• 37:16
  to
• 37:16
  help
• 37:16
  their
• 37:16
  users
• 37:17
  make
• 37:17
  informed
• 37:18
  decisions
• 37:18
  which
• 37:18
  ultimately
• 37:19
  Amazon
• 37:19
  wants
• 37:20
  because
• 37:20
  they
• 37:20
  want
• 37:21
  to
• 37:21
  capture
• 37:22
  whatever
• 37:22
  product
• 37:22
  search
• 37:23
  traffic
• 37:23
  is
• 37:23
  out
• 37:24
  there
• 37:24
  by
• 37:25
  giving
• 37:25
  them
• 37:25
  the
• 37:25
  most
• 37:26
  information
• 37:26
  on
• 37:26
  whether
• 37:27
  something's
• 37:27
  a
• 37:27
  good
• 37:27
  deal.
• 37:28
  So
• 37:28
  and
• 37:29
  then
• 37:29
  the
• 37:29
  last
• 37:29
  point,
• 37:29
  the
• 37:30
  third
• 37:30
  point
• 37:30
  I'd
• 37:30
  make
• 37:30
  in
• 37:31
  terms
• 37:31
  of
• 37:31
  the
• 37:31
  optionality
• 37:31
  is
• 37:32
  it
• 37:32
  also
• 37:33
  sets
• 37:33
  the
• 37:33
  table
• 37:34
  for
• 37:34
  incorporating
• 37:35
  similar
• 37:35
  enhancements
• 37:36
  into
• 37:37
  Amazon's
• 37:37
  buy
• 37:38
  for
• 37:38
  me
• 37:38
  technology.
• 37:39
  Right?
• 37:39
  Like,
• 37:39
  okay,
• 37:41
  can
• 37:41
  I
• 37:41
  start
• 37:41
  to
• 37:41
  track
• 37:42
  this
• 37:42
  on
• 37:42
  other
• 37:42
  people's
• 37:43
  websites
• 37:43
  too
• 37:44
  and
• 37:44
  incorporate
• 37:44
  that
• 37:45
  into
• 37:45
  it?
• 37:45
  And
• 37:46
  maybe
• 37:46
  Amazon's
• 37:47
  like,
• 37:47
  let's
• 37:47
  understand
• 37:48
  if
• 37:48
  people
• 37:48
  are
• 37:48
  using
• 37:49
  it
• 37:49
  on
• 37:49
  our
• 37:49
  own
• 37:49
  site
• 37:49
  first
• 37:50
  before
• 37:50
  we
• 37:50
  go
• 37:50
  and
• 37:51
  invest
• 37:51
  on
• 37:51
  figuring
• 37:51
  out
• 37:51
  how
• 37:52
  to
• 37:52
  get
• 37:52
  it
• 37:52
  from
• 37:52
  other
• 37:52
  sites
• 37:53
  as
• 37:53
  well
• 37:53
  and
• 37:54
  what
• 37:54
  can
• 37:54
  we
• 37:54
  take
• 37:54
  and
• 37:55
  what's
• 37:55
  going
• 37:55
  to
• 37:55
  be
• 37:55
  involved
• 37:56
  in
• 37:56
  that.
• 37:56
  So
• 37:57
  all
• 37:57
  of
• 37:57
  that
• 37:57
  just
• 37:58
  puts.
• 37:59
  It
• 37:59
  just
• 37:59
  gets
• 37:59
  me
• 37:59
  thinking,
• 38:00
  like
• 38:00
  Amazon
• 38:01
  more
• 38:01
  than
• 38:01
  more,
• 38:01
  more
• 38:02
  and
• 38:02
  more.
• 38:02
  Amazon's
• 38:03
  going
• 38:03
  to
• 38:03
  come
• 38:03
  out
• 38:03
  of
• 38:03
  this
• 38:03
  wave
• 38:04
  of
• 38:04
  AI
• 38:05
  just
• 38:06
  fine
• 38:06
  and
• 38:06
  dandy
• 38:07
  based
• 38:07
  on
• 38:08
  how
• 38:08
  they're,
• 38:10
  the
• 38:11
  actions
• 38:11
  they're
• 38:11
  taking
• 38:12
  to
• 38:12
  bolster
• 38:13
  their
• 38:13
  ranks
• 38:13
  in
• 38:13
  terms
• 38:14
  of
• 38:14
  how
• 38:14
  people
• 38:14
  are
• 38:15
  actually
• 38:15
  going
• 38:15
  to
• 38:15
  shop.
• 38:15
  It
• 38:16
  feels
• 38:16
  like
• 38:16
  the
• 38:16
  most
• 38:17
  clear
• 38:18
  strategy
• 38:18
  to
• 38:18
  me
• 38:19
  in
• 38:19
  the
• 38:19
  industry
• 38:19
  in
• 38:19
  terms
• 38:20
  of
• 38:20
  how
• 38:20
  they're
• 38:20
  thinking
• 38:20
  about
• 38:21
  keeping
• 38:22
  hold
• 38:22
  of
• 38:24
  their
• 38:24
  commerce
• 38:26
  kingdom
• 38:27
  or
• 38:27
  domain,
• 38:27
  so
• 38:28
  to
• 38:28
  speak.
• 38:29
  Yeah,
• 38:29
  I,
• 38:30
  I
• 38:30
  agree.
• 38:30
  I
• 38:30
  think
• 38:31
  anybody
• 38:32
  selling
• 38:33
  significant
• 38:33
  volumes
• 38:34
  online
• 38:34
  should
• 38:34
  really
• 38:34
  stay
• 38:35
  close
• 38:35
  to
• 38:35
  Alexa
• 38:36
  for
• 38:36
  shopping
• 38:36
  and
• 38:36
  how
• 38:36
  it's
• 38:36
  developing.
• 38:37
  Yeah.
• 38:38
  100.
• 38:38
  All
• 38:39
  right,
• 38:39
  Ben,
• 38:39
  well,
• 38:39
  let's
• 38:39
  go
• 38:39
  to
• 38:40
  the
• 38:40
  lightning
• 38:40
  round.
• 38:41
  Yes.
• 38:41
  First
• 38:42
  one.
• 38:42
  Sam's
• 38:43
  Club's
• 38:43
  Rotisserie
• 38:44
  Chicken
• 38:44
  recently
• 38:44
  dethroned
• 38:45
  Costco's
• 38:46
  chicken
• 38:46
  as
• 38:46
  the
• 38:47
  best
• 38:47
  pound
• 38:47
  for
• 38:47
  pound
• 38:48
  bird
• 38:48
  on
• 38:48
  the
• 38:48
  market,
• 38:49
  according
• 38:49
  to
• 38:49
  a
• 38:50
  new
• 38:50
  survey
• 38:51
  by
• 38:51
  Consumer
• 38:52
  Reports.
• 38:52
  Ben,
• 38:53
  I'm
• 38:53
  curious.
• 38:53
  Do
• 38:53
  the
• 38:53
  Brits
• 38:54
  go
• 38:54
  equally
• 38:54
  crazy
• 38:55
  for
• 38:55
  rotisserie
• 38:56
  chicken
• 38:56
  or
• 38:56
  is
• 38:56
  this
• 38:56
  more
• 38:56
  of
• 38:56
  an
• 38:57
  American
• 38:57
  phenomenon?
• 38:58
  And
• 38:58
  also,
• 38:58
  how
• 38:58
  do
• 38:59
  you
• 38:59
  like
• 38:59
  your
• 38:59
  chicken?
• 39:00
  Oh,
• 39:00
  God.
• 39:01
  I
• 39:01
  mean,
• 39:01
  look
• 39:01
  a
• 39:01
  good.
• 39:02
  A
• 39:02
  good
• 39:03
  in
• 39:03
  store.
• 39:03
  Roti's
• 39:04
  Chicken
• 39:04
  is
• 39:05
  a
• 39:05
  core
• 39:06
  part
• 39:06
  of
• 39:07
  any
• 39:07
  decent
• 39:08
  UK
• 39:08
  supermarket,
• 39:09
  but
• 39:09
  in
• 39:09
  all
• 39:09
  honesty,
• 39:10
  it's
• 39:10
  not
• 39:10
  a
• 39:10
  huge
• 39:10
  category.
• 39:11
  So
• 39:11
  it's
• 39:12
  maybe
• 39:12
  US$200
• 39:13
  million
• 39:14
  in
• 39:14
  total
• 39:15
  year
• 39:15
  across
• 39:15
  the
• 39:15
  whole
• 39:16
  of
• 39:16
  UK
• 39:17
  retail.
• 39:17
  So
• 39:18
  it's
• 39:19
  there.
• 39:19
  It
• 39:19
  smells
• 39:20
  great.
• 39:20
  How
• 39:21
  do
• 39:21
  I
• 39:21
  love
• 39:21
  my
• 39:21
  roast
• 39:22
  chicken
• 39:22
  as
• 39:23
  part
• 39:23
  of
• 39:23
  a
• 39:23
  Sunday
• 39:23
  dinner?
• 39:24
  Yeah.
• 39:24
  With
• 39:24
  roast
• 39:25
  potato.
• 39:25
  A
• 39:25
  proper
• 39:26
  British
• 39:26
  Sunday
• 39:27
  roast.
• 39:27
  Oh,
• 39:27
  yeah.
• 39:27
  Roast
• 39:28
  potatoes,
• 39:28
  Yorkshire
• 39:29
  puddings,
• 39:29
  gravy
• 39:30
  that
• 39:30
  you
• 39:30
  can
• 39:30
  make
• 39:30
  your
• 39:30
  fork
• 39:31
  stand
• 39:31
  up
• 39:31
  on
• 39:31
  his.
• 39:31
  In
• 39:32
  his
• 39:32
  own
• 39:32
  hat.
• 39:32
  That's
• 39:33
  great.
• 39:33
  I've
• 39:34
  not,
• 39:34
  I've
• 39:35
  not
• 39:35
  had
• 39:35
  the
• 39:35
  Sam's
• 39:35
  Chicken,
• 39:36
  but
• 39:36
  I
• 39:36
  have
• 39:36
  had
• 39:36
  the
• 39:36
  legendary
• 39:37
  Costco
• 39:37
  Rotis,
• 39:38
  which
• 39:38
  is
• 39:38
  a
• 39:38
  good
• 39:38
  product.
• 39:39
  So,
• 39:40
  yeah,
• 39:40
  all
• 39:40
  Crater
• 39:41
  Sam's,
• 39:41
  if
• 39:41
  they
• 39:41
  got
• 39:42
  a
• 39:42
  better
• 39:42
  one,
• 39:42
  that's
• 39:42
  for
• 39:42
  sure.
• 39:43
  First
• 39:43
  question
• 39:44
  number
• 39:44
  two.
• 39:45
  Tennis
• 39:46
  fans
• 39:47
  all
• 39:47
  around
• 39:47
  the
• 39:47
  world
• 39:48
  are
• 39:48
  currently
• 39:48
  glued
• 39:48
  to
• 39:49
  Wimbledon
• 39:49
  Fortnite
• 39:50
  and
• 39:50
  are
• 39:51
  enjoying
• 39:52
  with
• 39:52
  it
• 39:52
  the
• 39:52
  iconic
• 39:53
  Wimbledon
• 39:54
  treat
• 39:54
  of
• 39:54
  strawberries
• 39:55
  and
• 39:56
  cream.
• 39:57
  Do
• 39:57
  you,
• 39:57
  Chris,
• 39:57
  have
• 39:58
  a
• 39:58
  specific
• 39:59
  favorite
• 40:00
  sporting
• 40:00
  occasion
• 40:01
  and
• 40:02
  snack
• 40:02
  combo?
• 40:04
  Oh,
• 40:04
  yeah.
• 40:05
  Easy,
• 40:05
  easy.
• 40:06
  In
• 40:06
  fact,
• 40:06
  I
• 40:06
  just
• 40:06
  had
• 40:06
  this
• 40:07
  discussion
• 40:07
  with
• 40:07
  my,
• 40:07
  my
• 40:08
  wife
• 40:08
  the
• 40:08
  other
• 40:09
  like
• 40:09
  yesterday,
• 40:10
  actually,
• 40:10
  Ben.
• 40:11
  Super
• 40:12
  bowl,
• 40:12
  Buffalo
• 40:13
  Wings.
• 40:13
  100
• 40:14
  Super
• 40:14
  bowl
• 40:15
  and
• 40:15
  Buffalo
• 40:15
  wings.
• 40:15
  It's
• 40:16
  got
• 40:16
  to
• 40:16
  be.
• 40:16
  Or
• 40:17
  World
• 40:17
  cup
• 40:18
  and
• 40:18
  Guinness.
• 40:18
  That
• 40:18
  would
• 40:19
  be
• 40:19
  my
• 40:19
  next
• 40:19
  answer.
• 40:20
  Oh,
• 40:21
  love
• 40:21
  that.
• 40:21
  Love
• 40:22
  that
• 40:22
  for
• 40:22
  sure.
• 40:23
  All
• 40:23
  right.
• 40:24
  And
• 40:24
  to
• 40:24
  that
• 40:24
  point,
• 40:25
  English
• 40:26
  football
• 40:26
  player
• 40:26
  Jordan
• 40:27
  Henderson
• 40:27
  injured
• 40:28
  himself
• 40:28
  quite
• 40:29
  badly
• 40:29
  as
• 40:29
  he
• 40:30
  rushed
• 40:30
  to
• 40:30
  sing
• 40:30
  Wonderwall
• 40:31
  with
• 40:31
  English
• 40:31
  fans
• 40:32
  following
• 40:32
  the
• 40:32
  team's
• 40:32
  World
• 40:33
  cup
• 40:33
  victory
• 40:33
  over
• 40:33
  Mexico.
• 40:34
  Ben,
• 40:35
  I'm
• 40:35
  curious,
• 40:35
  what's
• 40:36
  the
• 40:36
  degree
• 40:36
  of
• 40:36
  sympathy
• 40:37
  felt
• 40:37
  by
• 40:38
  the
• 40:38
  UK
• 40:38
  population,
• 40:39
  you
• 40:39
  being
• 40:40
  the
• 40:40
  sole
• 40:40
  representative
• 40:41
  of
• 40:41
  the
• 40:41
  entire
• 40:41
  UK
• 40:42
  country
• 40:42
  right
• 40:43
  now?
• 40:43
  Oh,
• 40:44
  I
• 40:44
  mean,
• 40:44
  John
• 40:45
  Henness,
• 40:46
  it's
• 40:46
  a
• 40:46
  legend.
• 40:47
  This
• 40:47
  is
• 40:47
  a
• 40:47
  legendary
• 40:48
  performance.
• 40:49
  He
• 40:49
  was
• 40:49
  able
• 40:50
  to
• 40:50
  get
• 40:50
  himself
• 40:51
  booked,
• 40:51
  he
• 40:51
  got
• 40:52
  a
• 40:52
  yellow
• 40:52
  card
• 40:53
  and
• 40:53
  he
• 40:53
  got
• 40:54
  stretch
• 40:54
  it
• 40:54
  off
• 40:55
  without
• 40:55
  playing
• 40:55
  a
• 40:56
  single
• 40:57
  minute
• 40:57
  in
• 40:58
  the
• 40:58
  tournament.
• 40:59
  It
• 40:59
  is,
• 40:59
  it
• 40:59
  is
• 41:00
  a
• 41:00
  remarkable
• 41:01
  future
• 41:01
  pub
• 41:02
  kids
• 41:02
  question.
• 41:02
  I
• 41:03
  mean,
• 41:03
  look,
• 41:03
  thankfully
• 41:04
  he
• 41:04
  is
• 41:05
  a
• 41:05
  big
• 41:05
  part
• 41:06
  squad
• 41:06
  player
• 41:07
  in
• 41:07
  this
• 41:07
  one,
• 41:08
  so
• 41:08
  it's
• 41:08
  not
• 41:09
  going
• 41:09
  to
• 41:09
  harm
• 41:09
  us
• 41:10
  as
• 41:10
  we
• 41:10
  progress
• 41:11
  through
• 41:11
  the
• 41:11
  tournament.
• 41:11
  And
• 41:13
  aren't
• 41:14
  those
• 41:14
  Wonderwall
• 41:14
  moments
• 41:15
  fantastic?
• 41:15
  It's.
• 41:16
  They
• 41:16
  are
• 41:16
  really
• 41:16
  good.
• 41:17
  Is
• 41:17
  becoming
• 41:18
  iconic
• 41:18
  and
• 41:18
  it's,
• 41:19
  it's
• 41:19
  like
• 41:19
  a
• 41:19
  real
• 41:20
  moment
• 41:20
  of
• 41:20
  connection
• 41:21
  between
• 41:21
  the
• 41:21
  players
• 41:21
  and
• 41:21
  the
• 41:21
  fans.
• 41:23
  I
• 41:23
  love
• 41:23
  that.
• 41:24
  And,
• 41:25
  and
• 41:25
  God.
• 41:26
  No,
• 41:27
  you
• 41:27
  go,
• 41:27
  you
• 41:27
  keep
• 41:27
  going.
• 41:27
  I'll
• 41:28
  ask
• 41:28
  you
• 41:28
  my
• 41:28
  question
• 41:28
  later.
• 41:28
  No,
• 41:29
  it's
• 41:29
  going
• 41:29
  to
• 41:29
  say,
• 41:29
  look,
• 41:29
  speaking
• 41:30
  on
• 41:30
  behalf
• 41:30
  of
• 41:30
  all
• 41:31
  English
• 41:31
  football
• 41:31
  fans,
• 41:31
  as
• 41:32
  I
• 41:32
  am
• 41:32
  today
• 41:32
  the
• 41:33
  designated
• 41:33
  spokesperson
• 41:34
  of
• 41:34
  the
• 41:34
  entire
• 41:34
  country,
• 41:35
  thank
• 41:35
  God
• 41:36
  it's
• 41:36
  replaced
• 41:36
  Sweet
• 41:37
  Caroline
• 41:37
  at
• 41:37
  last.
• 41:38
  We
• 41:39
  appreciate
• 41:39
  that.
• 41:40
  Right,
• 41:41
  right,
• 41:41
  right.
• 41:41
  Yeah.
• 41:42
  I
• 41:42
  was
• 41:42
  going
• 41:42
  to
• 41:42
  ask
• 41:43
  you
• 41:43
  if,
• 41:43
  if
• 41:43
  you
• 41:43
  give
• 41:44
  him
• 41:44
  special
• 41:44
  dispensation
• 41:45
  for
• 41:45
  the
• 41:45
  fact
• 41:45
  that
• 41:46
  he
• 41:46
  injured
• 41:46
  himself
• 41:46
  by
• 41:47
  rushing
• 41:47
  to
• 41:47
  sing
• 41:47
  an
• 41:47
  Oasis
• 41:48
  song,
• 41:48
  because
• 41:48
  I
• 41:49
  know
• 41:49
  how
• 41:49
  big
• 41:49
  of
• 41:49
  an
• 41:49
  Oasis
• 41:50
  fan
• 41:50
  you
• 41:50
  are
• 41:50
  as
• 41:50
  well.
• 41:51
  Like
• 41:51
  I
• 41:51
  think
• 41:52
  100%
• 41:52
  you
• 41:53
  do.
• 41:53
  Legendary
• 41:54
  performance,
• 41:55
  Chris.
• 41:55
  Legendary.
• 41:56
  All
• 41:56
  right,
• 41:56
  go
• 41:56
  on.
• 41:57
  I'm
• 41:57
  going
• 41:57
  to
• 41:57
  stick
• 41:57
  with
• 41:57
  the
• 41:58
  World
• 41:58
  cup
• 41:59
  first
• 41:59
  question.
• 42:00
  So
• 42:00
  yesterday
• 42:01
  on
• 42:01
  Ticketmaster's
• 42:02
  resale
• 42:02
  site,
• 42:03
  there
• 42:03
  was
• 42:03
  a
• 42:03
  pair
• 42:03
  of
• 42:04
  tickets
• 42:04
  for
• 42:05
  the
• 42:05
  USA
• 42:05
  Belgium
• 42:06
  game
• 42:06
  for
• 42:07
  what
• 42:07
  was,
• 42:07
  quote,
• 42:07
  the
• 42:08
  best
• 42:08
  seat
• 42:08
  in
• 42:09
  the
• 42:09
  house.
• 42:09
  That's
• 42:10
  mid
• 42:10
  pitch,
• 42:10
  lower
• 42:10
  tier.
• 42:11
  They
• 42:11
  were
• 42:11
  on
• 42:11
  sale
• 42:12
  for
• 42:12
  a
• 42:12
  cool
• 42:13
  $23,000
• 42:15
  for
• 42:16
  the
• 42:16
  pair.
• 42:16
  So
• 42:17
  that's
• 42:17
  $130
• 42:19
  per
• 42:20
  minute
• 42:21
  of
• 42:21
  the
• 42:21
  game
• 42:22
  per
• 42:22
  person,
• 42:23
  excluding
• 42:24
  the
• 42:24
  hydration
• 42:25
  advertising
• 42:26
  breaks.
• 42:27
  So,
• 42:27
  Chris,
• 42:27
  what
• 42:28
  has
• 42:28
  been
• 42:28
  your
• 42:29
  most
• 42:29
  extravagant
• 42:30
  purchase
• 42:30
  on
• 42:31
  a
• 42:31
  time
• 42:31
  per
• 42:32
  dollar
• 42:32
  basis?
• 42:34
  Oh,
• 42:34
  my
• 42:34
  God.
• 42:35
  On
• 42:35
  a
• 42:35
  time
• 42:35
  per
• 42:36
  dollar
• 42:36
  basis.
• 42:37
  Wow,
• 42:37
  that's
• 42:37
  a
• 42:38
  really
• 42:38
  interesting.
• 42:39
  That's
• 42:39
  a
• 42:39
  really
• 42:39
  tough
• 42:40
  question.
• 42:41
  God,
• 42:42
  off
• 42:42
  the
• 42:42
  top
• 42:42
  of
• 42:42
  my
• 42:42
  head,
• 42:42
  I'm
• 42:43
  not
• 42:43
  a
• 42:43
  very
• 42:43
  extravagant
• 42:44
  spender,
• 42:45
  Ben.
• 42:45
  Probably,
• 42:46
  probably.
• 42:47
  In
• 42:47
  reality,
• 42:48
  it's
• 42:48
  probably
• 42:48
  sitting
• 42:49
  at
• 42:49
  the
• 42:49
  blackjack
• 42:49
  table
• 42:50
  in
• 42:50
  Vegas,
• 42:51
  that's
• 42:51
  probably
• 42:51
  the
• 42:51
  most,
• 42:52
  most
• 42:53
  money
• 42:53
  Spent
• 42:53
  per
• 42:54
  time
• 42:54
  alone
• 42:54
  very,
• 42:55
  very
• 42:55
  quickly.
• 42:56
  Yeah,
• 42:57
  100.
• 42:57
  Or.
• 42:58
  Or
• 42:58
  the
• 42:58
  sports
• 42:59
  book
• 42:59
  as
• 42:59
  well.
• 43:00
  It's
• 43:00
  got
• 43:00
  to
• 43:00
  be
• 43:00
  one
• 43:00
  of
• 43:00
  those
• 43:01
  answers.
• 43:01
  Yeah,
• 43:01
  100%.
• 43:03
  All
• 43:03
  right,
• 43:03
  well,
• 43:03
  today's
• 43:04
  podcast
• 43:04
  was
• 43:04
  produced
• 43:05
  with,
• 43:05
  of
• 43:05
  course,
• 43:06
  the
• 43:06
  help
• 43:06
  and
• 43:06
  support
• 43:07
  of
• 43:07
  our
• 43:07
  fabulous
• 43:08
  producer,
• 43:08
  producer
• 43:09
  Ella
• 43:09
  Sirjord.
• 43:10
  Ella,
• 43:11
  come
• 43:11
  on
• 43:11
  in
• 43:11
  here.
• 43:11
  I'm
• 43:12
  curious,
• 43:12
  what
• 43:12
  headline
• 43:13
  won
• 43:13
  the
• 43:13
  show
• 43:13
  for
• 43:14
  you
• 43:14
  today?
• 43:15
  Yeah,
• 43:15
  I
• 43:15
  mean,
• 43:15
  I'm
• 43:16
  with
• 43:16
  you
• 43:16
  both.
• 43:16
  I
• 43:17
  loved
• 43:17
  the
• 43:17
  Lowe's
• 43:18
  headline
• 43:18
  this
• 43:18
  week.
• 43:19
  Did
• 43:19
  you?
• 43:20
  Yes,
• 43:20
  Ben,
• 43:20
  to
• 43:21
  quote
• 43:21
  you,
• 43:21
  it's
• 43:21
  a
• 43:21
  big
• 43:22
  win
• 43:22
  for
• 43:22
  the
• 43:22
  customers.
• 43:23
  Now,
• 43:23
  I
• 43:24
  can't
• 43:24
  say
• 43:25
  I'm
• 43:25
  a
• 43:25
  huge
• 43:26
  Lowe's
• 43:26
  customer.
• 43:26
  I've
• 43:27
  been,
• 43:27
  I've
• 43:27
  been
• 43:27
  there
• 43:28
  for
• 43:28
  the
• 43:28
  potted
• 43:28
  flowers.
• 43:29
  Not
• 43:30
  so
• 43:30
  much
• 43:30
  everything
• 43:30
  else,
• 43:31
  but
• 43:32
  it
• 43:32
  was
• 43:32
  my
• 43:32
  favorite
• 43:32
  because
• 43:33
  as
• 43:33
  a
• 43:33
  customer,
• 43:34
  this
• 43:34
  is
• 43:34
  exactly
• 43:35
  just
• 43:35
  the
• 43:35
  update
• 43:36
  that
• 43:36
  makes
• 43:36
  you
• 43:36
  more
• 43:36
  likely
• 43:37
  to
• 43:37
  shop
• 43:37
  there
• 43:37
  in
• 43:37
  the
• 43:37
  future.
• 43:38
  Right.
• 43:38
  If
• 43:38
  I
• 43:38
  was
• 43:38
  to
• 43:39
  go
• 43:39
  buy
• 43:39
  a
• 43:39
  pool
• 43:39
  and
• 43:39
  I
• 43:40
  know
• 43:40
  you
• 43:40
  know
• 43:40
  what
• 43:40
  it
• 43:40
  might
• 43:41
  be
• 43:41
  on
• 43:41
  their
• 43:41
  website,
• 43:42
  I
• 43:42
  can't.
• 43:42
  No
• 43:42
  matter
• 43:43
  what,
• 43:43
  I'm
• 43:43
  going
• 43:43
  to
• 43:43
  leave
• 43:43
  with
• 43:44
  a
• 43:44
  pool.
• 43:44
  Whether
• 43:44
  it's
• 43:44
  shipped
• 43:45
  to
• 43:45
  my
• 43:45
  door
• 43:45
  or
• 43:45
  there.
• 43:47
  This
• 43:47
  is
• 43:47
  gen
• 43:48
  zers.
• 43:48
  Don't
• 43:48
  really
• 43:48
  care
• 43:49
  as
• 43:49
  long
• 43:49
  as
• 43:50
  I'm
• 43:50
  getting
• 43:50
  it
• 43:51
  right.
• 43:51
  So,
• 43:51
  Ella,
• 43:52
  I'm
• 43:52
  curious
• 43:52
  too.
• 43:52
  As
• 43:52
  an
• 43:52
  offshoot
• 43:53
  to
• 43:53
  this,
• 43:53
  because
• 43:54
  the
• 43:54
  decorative
• 43:54
  geese
• 43:55
  came
• 43:55
  up
• 43:55
  so
• 43:55
  much
• 43:56
  in
• 43:56
  the
• 43:56
  conversation,
• 43:57
  where
• 43:57
  do
• 43:57
  you
• 43:58
  fall
• 43:58
  on
• 43:58
  the
• 43:58
  whole
• 43:58
  decorative
• 43:59
  lawn
• 43:59
  ornaments
• 44:00
  debate,
• 44:01
  especially
• 44:01
  around
• 44:02
  the
• 44:02
  holidays?
• 44:03
  Are
• 44:03
  you
• 44:03
  pro
• 44:04
  or
• 44:04
  con
• 44:04
  inflatable
• 44:05
  decorative
• 44:06
  lawn
• 44:07
  ornaments?
• 44:08
  Okay.
• 44:09
  Inflatable
• 44:10
  against
• 44:12
  decorative
• 44:12
  geese.
• 44:13
  Not.
• 44:13
  Aren't
• 44:14
  necessarily
• 44:14
  inflatable.
• 44:15
  Right,
• 44:16
  Right.
• 44:16
  No,
• 44:17
  they're
• 44:17
  not.
• 44:18
  I
• 44:18
  can
• 44:18
  go
• 44:18
  for
• 44:18
  a
• 44:19
  little
• 44:19
  gnome
• 44:19
  sitting
• 44:20
  in
• 44:20
  my
• 44:20
  yard,
• 44:20
  however,
• 44:21
  a
• 44:21
  massive
• 44:22
  Santa
• 44:22
  or
• 44:22
  a
• 44:23
  massive
• 44:23
  inflatable.
• 44:24
  Absolutely
• 44:25
  not.
• 44:25
  So
• 44:26
  no
• 44:26
  to
• 44:26
  inflatable?
• 44:27
  Yes
• 44:28
  to
• 44:28
  standard
• 44:29
  gnomes
• 44:30
  on
• 44:30
  your.
• 44:30
  In
• 44:30
  your
• 44:31
  lawn?
• 44:31
  Yes,
• 44:31
  that's
• 44:31
  what
• 44:32
  I'm
• 44:32
  hearing.
• 44:32
  Exactly.
• 44:33
  How
• 44:33
  about
• 44:33
  you,
• 44:33
  Chris?
• 44:34
  I.
• 44:35
  I'm
• 44:35
  all
• 44:35
  in
• 44:36
  on
• 44:36
  the
• 44:36
  decorative
• 44:36
  ornaments.
• 44:37
  Yeah,
• 44:37
  I
• 44:37
  love
• 44:38
  decorative
• 44:38
  lot
• 44:38
  ornaments.
• 44:39
  Yeah.
• 44:39
  No,
• 44:39
  I'd
• 44:39
  have
• 44:40
  like
• 44:40
  the
• 44:40
  biggest
• 44:41
  blow
• 44:41
  ups
• 44:41
  of
• 44:41
  Darth
• 44:42
  Vader's
• 44:42
  every
• 44:42
  year
• 44:43
  that
• 44:43
  I
• 44:43
  could.
• 44:43
  But
• 44:43
  Ben,
• 44:44
  I'm
• 44:44
  guessing,
• 44:44
  I'm
• 44:44
  guessing
• 44:45
  the
• 44:45
  English
• 44:45
  are
• 44:45
  a
• 44:46
  more.
• 44:46
  You
• 44:46
  have
• 44:46
  a
• 44:46
  more
• 44:47
  refined,
• 44:47
  you
• 44:48
  know,
• 44:48
  more
• 44:48
  refined
• 44:49
  taste
• 44:49
  than
• 44:49
  us
• 44:49
  here
• 44:49
  in
• 44:50
  the
• 44:50
  States.
• 44:50
  Like,
• 44:50
  what's
• 44:51
  the,
• 44:51
  what's
• 44:51
  the
• 44:51
  feeling
• 44:51
  on
• 44:52
  decorative
• 44:52
  lawn
• 44:52
  ornaments
• 44:53
  in.
• 44:53
  In
• 44:53
  the
• 44:54
  uk?
• 44:55
  Yeah.
• 44:55
  Hard
• 44:56
  no,
• 44:56
  Chris.
• 44:57
  Right.
• 44:57
  It's
• 44:58
  a
• 44:58
  hard
• 44:58
  no.
• 44:58
  Right.
• 44:59
  It's
• 44:59
  like
• 44:59
  you're
• 45:00
  not
• 45:00
  even
• 45:00
  on
• 45:00
  the
• 45:00
  gnome
• 45:01
  territory.
• 45:01
  Right?
• 45:02
  You're
• 45:02
  like
• 45:02
  not
• 45:02
  even
• 45:02
  buying
• 45:03
  into
• 45:03
  what
• 45:03
  Ella's
• 45:04
  throwing
• 45:04
  down
• 45:04
  here,
• 45:04
  right?
• 45:05
  No,
• 45:05
  no,
• 45:06
  we're
• 45:06
  all
• 45:06
  good.
• 45:06
  Thank
• 45:07
  you.
• 45:07
  Oh,
• 45:08
  my
• 45:08
  God,
• 45:08
  this
• 45:08
  is
• 45:09
  so
• 45:09
  great.
• 45:09
  So
• 45:10
  I
• 45:10
  love
• 45:10
  doing
• 45:10
  the
• 45:10
  show
• 45:11
  at
• 45:11
  the
• 45:11
  end
• 45:11
  of
• 45:11
  the
• 45:11
  show.
• 45:11
  It's
• 45:11
  so
• 45:11
  great.
• 45:12
  All
• 45:12
  right,
• 45:12
  well,
• 45:13
  happy
• 45:13
  birthday
• 45:14
  today
• 45:14
  to
• 45:14
  Kevin
• 45:14
  Bacon,
• 45:15
  Sophia
• 45:16
  Bush,
• 45:16
  and
• 45:16
  to
• 45:17
  one
• 45:17
  of
• 45:17
  the
• 45:17
  best
• 45:17
  actors
• 45:18
  pound
• 45:18
  for
• 45:18
  pound
• 45:19
  out
• 45:19
  there
• 45:19
  anywhere,
• 45:19
  the
• 45:19
  man
• 45:20
  who
• 45:20
  once
• 45:20
  played
• 45:20
  Steve
• 45:21
  Prefontaine,
• 45:22
  Billy
• 45:23
  Crudup.
• 45:24
  And
• 45:24
  remember,
• 45:25
  if
• 45:25
  you
• 45:25
  can
• 45:25
  only
• 45:26
  read
• 45:26
  or
• 45:26
  listen
• 45:26
  to
• 45:26
  one
• 45:26
  retail
• 45:27
  blog
• 45:27
  in
• 45:27
  the
• 45:27
  business,
• 45:27
  Make
• 45:28
  It
• 45:28
  OmniTong.
• 45:28
  Our
• 45:28
  Fast
• 45:29
  Five
• 45:29
  podcast
• 45:29
  is
• 45:29
  the
• 45:29
  quickest,
• 45:30
  fastest
• 45:30
  rundown
• 45:30
  of
• 45:30
  all
• 45:31
  the
• 45:31
  week's
• 45:31
  top
• 45:31
  news,
• 45:31
  and
• 45:31
  our
• 45:32
  daily
• 45:32
  newsletter,
• 45:32
  the
• 45:32
  Retail
• 45:33
  Daily
• 45:33
  Minute,
• 45:33
  tells
• 45:34
  you
• 45:34
  all
• 45:34
  you
• 45:34
  need
• 45:34
  to
• 45:34
  know
• 45:34
  each
• 45:35
  day
• 45:35
  to
• 45:36
  stay
• 45:36
  on
• 45:36
  top
• 45:36
  of
• 45:36
  your
• 45:36
  game
• 45:36
  as
• 45:37
  a
• 45:37
  retail
• 45:37
  executive
• 45:37
  and
• 45:38
  also
• 45:38
  regularly
• 45:38
  feature
• 45:39
  special
• 45:39
  content
• 45:39
  that
• 45:39
  is
• 45:40
  exclusive
• 45:40
  to
• 45:40
  us
• 45:41
  and
• 45:41
  that
• 45:41
  we
• 45:41
  all
• 45:41
  take
• 45:42
  a
• 45:42
  ton
• 45:42
  of
• 45:42
  pride
• 45:43
  in
• 45:43
  doing
• 45:44
  just
• 45:44
  for
• 45:44
  you.
• 45:44
  Thanks
• 45:45
  as
• 45:45
  always
• 45:45
  for
• 45:45
  listening
• 45:45
  in.
• 45:45
  Please
• 45:46
  remember
• 45:46
  to
• 45:46
  like
• 45:46
  and
• 45:46
  leave
• 45:46
  us
• 45:47
  a
• 45:47
  review
• 45:47
  wherever
• 45:47
  you
• 45:47
  happen
• 45:48
  to
• 45:48
  listen
• 45:48
  to
• 45:48
  your
• 45:48
  podcast
• 45:49
  or
• 45:50
  on
• 45:50
  YouTube.
• 45:50
  You
• 45:50
  can
• 45:51
  follow
• 45:51
  us
• 45:51
  today
• 45:51
  by
• 45:51
  simply
• 45:52
  going
• 45:52
  to
• 45:52
  YouTube.com
• 45:54
  omnitalkretail
• 45:56
  Ben
• 45:56
  Miller,
• 45:57
  if
• 45:57
  people
• 45:58
  found
• 45:58
  you
• 45:58
  engaging,
• 45:59
  insightful,
• 46:01
  a
• 46:01
  great,
• 46:01
  easy
• 46:02
  listen,
• 46:02
  what's
• 46:02
  the
• 46:02
  best
• 46:03
  way
• 46:03
  for
• 46:03
  them
• 46:03
  to
• 46:03
  get
• 46:03
  in
• 46:03
  touch
• 46:04
  with
• 46:04
  you?
• 46:05
  I'd
• 46:05
  love
• 46:05
  to
• 46:05
  hear
• 46:05
  from
• 46:06
  them
• 46:06
  if
• 46:06
  that's
• 46:06
  the
• 46:06
  case.
• 46:07
  LinkedIn
• 46:07
  is
• 46:08
  also
• 46:08
  always
• 46:08
  the
• 46:08
  best
• 46:08
  option.
• 46:09
  I
• 46:09
  am
• 46:10
  Benmiller
• 46:10
  Retail
• 46:11
  on
• 46:11
  LinkedIn.
• 46:12
  Awesome.
• 46:13
  Awesome.
• 46:13
  Well,
• 46:13
  until
• 46:14
  next
• 46:14
  week,
• 46:15
  on
• 46:15
  behalf
• 46:15
  of
• 46:15
  Ben,
• 46:16
  producer
• 46:17
  Ella
• 46:17
  and
• 46:18
  myself
• 46:18
  and
• 46:18
  all
• 46:18
  of
• 46:19
  us
• 46:19
  here
• 46:19
  at
• 46:20
  Omnitok
• 46:20
  Retail,
• 46:21
  as
• 46:21
  always,
• 46:21
  be
• 46:22
  careful
• 46:22
  out
• 46:22
  there.