Latest / Omni Talk Retail / CVS Chief Merchant Musab Balbale on Why the Front Store Is Its Future | Live from Shoptalk 2025

Transcript

CVS Chief Merchant Musab Balbale on Why the Front Store Is Its Future | Live from Shoptalk 2025 · Omni Talk Retail

• 0:00
  Hello,
• 0:00
  everyone.
• 0:01
  This
• 0:01
  is
• 0:01
  Omnitalk
• 0:02
  Retail.
• 0:02
  I'm
• 0:02
  Chris
• 0:02
  Walton.
• 0:03
  And
• 0:03
  I'm
• 0:03
  Man
• 0:03
  Mazinga.
• 0:04
  And
• 0:04
  we
• 0:04
  are
• 0:04
  finishing
• 0:05
  up
• 0:05
  our
• 0:06
  day
• 0:06
  one
• 0:06
  coverage
• 0:07
  from
• 0:07
  Shop
• 0:07
  Talk.
• 0:08
  All
• 0:08
  downhill
• 0:09
  from
• 0:09
  here,
• 0:09
  guys.
• 0:09
  Yes.
• 0:10
  Not
• 0:10
  like
• 0:10
  you
• 0:10
  have
• 0:10
  anything
• 0:10
  coming
• 0:11
  up
• 0:11
  after
• 0:11
  this.
• 0:11
  No.
• 0:11
  Yes.
• 0:12
  Yes.
• 0:12
  The
• 0:12
  work
• 0:13
  is
• 0:13
  never
• 0:13
  finished,
• 0:13
  Dan.
• 0:14
  But,
• 0:14
  yes,
• 0:14
  we
• 0:14
  are
• 0:14
  here
• 0:15
  once
• 0:15
  again
• 0:15
  live
• 0:15
  from
• 0:16
  the
• 0:16
  avalara
• 0:16
  booth.
• 0:16
  Booth
• 0:17
  14.
• 0:18
  No,
• 0:18
  1554.
• 0:19
  Wow.
• 0:20
  I
• 0:20
  got
• 0:20
  Shop
• 0:20
  Talk
• 0:20
  dyslexia
• 0:21
  coming
• 0:21
  my
• 0:21
  way.
• 0:22
  But
• 0:22
  standing
• 0:22
  between
• 0:23
  us,
• 0:23
  Anne,
• 0:24
  is
• 0:24
  a
• 0:24
  man
• 0:24
  who
• 0:24
  should
• 0:24
  need
• 0:25
  no
• 0:25
  introduction
• 0:25
  because
• 0:26
  he's
• 0:26
  gonna
• 0:26
  be
• 0:26
  on
• 0:26
  stage
• 0:26
  with
• 0:26
  me
• 0:27
  in
• 0:27
  about
• 0:27
  30
• 0:27
  minutes
• 0:27
  as
• 0:28
  well.
• 0:28
  Maybe
• 0:28
  an
• 0:28
  hour,
• 0:29
  actually,
• 0:29
  technically.
• 0:30
  But
• 0:30
  I've
• 0:30
  got
• 0:30
  Musab
• 0:31
  Babale,
• 0:32
  the
• 0:32
  senior
• 0:33
  vice
• 0:33
  president
• 0:33
  and
• 0:34
  chief
• 0:34
  merchandising
• 0:34
  officer
• 0:35
  at
• 0:35
  CVS
• 0:36
  Health.
• 0:37
  Musab,
• 0:38
  happy
• 0:38
  first
• 0:39
  day
• 0:39
  of
• 0:39
  Shop
• 0:39
  Talk.
• 0:40
  And
• 0:40
  thanks
• 0:40
  for
• 0:40
  being
• 0:40
  with
• 0:41
  us
• 0:41
  at
• 0:41
  omnitok.
• 0:42
  Thanks.
• 0:42
  It's
• 0:42
  exciting
• 0:42
  to
• 0:43
  be
• 0:43
  here.
• 0:43
  Did
• 0:43
  you
• 0:43
  guys
• 0:43
  see
• 0:44
  the
• 0:44
  two
• 0:44
  puppies?
• 0:45
  No.
• 0:46
  I
• 0:46
  have
• 0:46
  heard
• 0:46
  about
• 0:46
  the
• 0:46
  two
• 0:47
  puppies.
• 0:47
  I
• 0:47
  heard,
• 0:48
  though.
• 0:48
  That
• 0:48
  is
• 0:48
  like
• 0:49
  taking
• 0:49
  bizarre
• 0:50
  experiences
• 0:51
  to
• 0:51
  a
• 0:51
  whole
• 0:52
  new
• 0:52
  level.
• 0:52
  I
• 0:52
  mean,
• 0:53
  they're
• 0:53
  puppies,
• 0:53
  though.
• 0:54
  They're
• 0:54
  puppies.
• 0:55
  They're
• 0:55
  going
• 0:55
  to
• 0:55
  get
• 0:55
  people.
• 0:56
  Get
• 0:56
  people
• 0:56
  to
• 0:56
  stop.
• 0:57
  Did
• 0:57
  you
• 0:57
  want
• 0:57
  to
• 0:57
  take
• 0:57
  one
• 0:57
  home?
• 0:58
  We
• 0:58
  talked
• 0:59
  about
• 0:59
  that.
• 0:59
  We
• 1:00
  talked
• 1:00
  about,
• 1:00
  you
• 1:00
  know,
• 1:01
  coming
• 1:01
  home
• 1:01
  with
• 1:01
  a
• 1:01
  surprise
• 1:02
  puppy
• 1:02
  for
• 1:02
  the
• 1:02
  kids.
• 1:02
  Get
• 1:02
  some
• 1:02
  merchandising
• 1:03
  ideas
• 1:03
  for
• 1:03
  CVS
• 1:04
  Health.
• 1:04
  Or
• 1:05
  not
• 1:05
  with
• 1:05
  the
• 1:05
  puppies.
• 1:05
  We're
• 1:06
  staying.
• 1:06
  We're
• 1:06
  staying
• 1:06
  away
• 1:06
  from
• 1:07
  that
• 1:07
  category.
• 1:08
  Not
• 1:08
  in
• 1:08
  your
• 1:08
  baliweg.
• 1:09
  No,
• 1:09
  no.
• 1:10
  We
• 1:10
  got
• 1:10
  toys,
• 1:10
  we
• 1:10
  got
• 1:11
  food,
• 1:12
  we
• 1:12
  got.
• 1:12
  We
• 1:13
  got
• 1:13
  pads,
• 1:13
  but
• 1:13
  not
• 1:14
  the
• 1:14
  puppy
• 1:14
  itself.
• 1:15
  Draw
• 1:15
  the
• 1:15
  light
• 1:15
  of
• 1:15
  dog
• 1:15
  food.
• 1:16
  Right.
• 1:17
  Well,
• 1:17
  Musab,
• 1:18
  let's.
• 1:18
  Let's
• 1:18
  dive
• 1:19
  into
• 1:19
  a
• 1:19
  little
• 1:20
  bit
• 1:20
  about
• 1:20
  what
• 1:21
  you.
• 1:21
  You
• 1:22
  oversee
• 1:22
  in
• 1:23
  your
• 1:23
  role
• 1:23
  at
• 1:23
  CVS
• 1:24
  now,
• 1:25
  what
• 1:25
  departments
• 1:26
  are
• 1:26
  underneath
• 1:27
  you?
• 1:27
  What
• 1:27
  kind
• 1:27
  of
• 1:28
  work
• 1:29
  are
• 1:29
  you
• 1:29
  doing
• 1:29
  day
• 1:30
  to
• 1:30
  day?
• 1:30
  Yeah.
• 1:31
  So
• 1:31
  I'm
• 1:32
  general
• 1:32
  manager
• 1:33
  of
• 1:33
  our
• 1:33
  front
• 1:33
  store
• 1:33
  business.
• 1:34
  So
• 1:34
  that
• 1:34
  is
• 1:34
  everything
• 1:35
  in
• 1:35
  this
• 1:35
  retail
• 1:36
  experience.
• 1:36
  That's
• 1:36
  not
• 1:36
  the
• 1:37
  pharmacy.
• 1:37
  Yeah.
• 1:38
  So
• 1:38
  across
• 1:38
  the
• 1:39
  categories,
• 1:39
  across
• 1:39
  our
• 1:40
  digital
• 1:40
  business,
• 1:42
  everything
• 1:42
  that
• 1:43
  sort
• 1:43
  of
• 1:43
  interacts
• 1:43
  with
• 1:43
  the
• 1:43
  consumer.
• 1:44
  Okay.
• 1:45
  And
• 1:45
  tell
• 1:45
  us
• 1:45
  a
• 1:46
  little
• 1:46
  bit
• 1:46
  about.
• 1:46
  There's
• 1:47
  been
• 1:47
  some
• 1:47
  big
• 1:47
  news.
• 1:47
  You
• 1:48
  guys
• 1:48
  are
• 1:48
  testing
• 1:48
  some
• 1:49
  new
• 1:49
  formats
• 1:50
  with.
• 1:51
  What
• 1:52
  do
• 1:52
  you
• 1:52
  think
• 1:52
  about
• 1:53
  that
• 1:53
  front
• 1:53
  of
• 1:53
  store
• 1:54
  experience?
• 1:54
  Like,
• 1:54
  where
• 1:54
  do
• 1:55
  you
• 1:55
  want
• 1:55
  to
• 1:55
  take
• 1:55
  it?
• 1:55
  What
• 1:56
  do
• 1:56
  you
• 1:56
  want
• 1:56
  to
• 1:56
  do
• 1:56
  with
• 1:56
  it?
• 1:57
  You
• 1:57
  know
• 1:57
  what's
• 1:58
  really
• 1:58
  interesting,
• 1:58
  and
• 1:58
  we're
• 1:59
  going
• 1:59
  to
• 1:59
  talk
• 1:59
  about
• 1:59
  this
• 1:59
  in
• 1:59
  a
• 1:59
  little
• 2:00
  bit,
• 2:00
  is
• 2:00
  that
• 2:01
  our
• 2:02
  stores
• 2:02
  are
• 2:02
  oftentimes
• 2:03
  thought
• 2:03
  of
• 2:03
  as
• 2:03
  pharmacies.
• 2:04
  Yeah.
• 2:05
  Any
• 2:05
  sense
• 2:06
  of
• 2:06
  how
• 2:06
  much
• 2:07
  of
• 2:07
  our
• 2:07
  traffic
• 2:07
  is
• 2:07
  from
• 2:07
  the
• 2:08
  front
• 2:08
  store?
• 2:08
  What
• 2:08
  would
• 2:09
  you
• 2:09
  guess?
• 2:09
  I
• 2:09
  don't
• 2:09
  know.
• 2:10
  This
• 2:10
  is
• 2:10
  why
• 2:10
  I'm
• 2:10
  Very
• 2:11
  glad
• 2:11
  that
• 2:11
  we
• 2:11
  have
• 2:11
  you
• 2:12
  because
• 2:12
  I
• 2:12
  haven't
• 2:12
  seen
• 2:12
  it.
• 2:12
  I
• 2:12
  don't
• 2:13
  even
• 2:13
  know
• 2:13
  when
• 2:13
  I
• 2:13
  prepped
• 2:13
  the
• 2:13
  interview.
• 2:14
  What
• 2:14
  would
• 2:14
  you
• 2:15
  guess?
• 2:15
  What
• 2:15
  would
• 2:15
  you
• 2:15
  guess?
• 2:16
  Like,
• 2:16
  I
• 2:17
  don't
• 2:17
  know,
• 2:17
  60%
• 2:18
  of
• 2:18
  the
• 2:18
  business.
• 2:19
  What
• 2:19
  the
• 2:19
  traffic,
• 2:19
  the
• 2:20
  traffic
• 2:20
  that
• 2:20
  goes
• 2:20
  to
• 2:20
  front
• 2:21
  of
• 2:21
  store.
• 2:21
  Front
• 2:21
  of
• 2:21
  store
• 2:21
  traffic.
• 2:22
  What
• 2:23
  percent
• 2:23
  of
• 2:23
  the
• 2:23
  traffic
• 2:23
  is
• 2:24
  driven
• 2:24
  by
• 2:24
  front
• 2:24
  of
• 2:24
  store
• 2:25
  items?
• 2:25
  Yeah.
• 2:27
  65.
• 2:28
  You
• 2:28
  guys
• 2:29
  are
• 2:29
  close.
• 2:29
  Three
• 2:29
  quarters
• 2:30
  of
• 2:30
  our
• 2:30
  traffic
• 2:30
  in
• 2:30
  the
• 2:31
  retail
• 2:31
  experience
• 2:31
  is
• 2:32
  front
• 2:32
  of
• 2:32
  store.
• 2:32
  So
• 2:32
  the
• 2:32
  front
• 2:32
  of
• 2:33
  store
• 2:33
  is
• 2:33
  incredibly
• 2:34
  powerful
• 2:35
  as
• 2:35
  part
• 2:35
  of
• 2:35
  our
• 2:36
  total
• 2:36
  sort
• 2:36
  of
• 2:36
  retail.
• 2:37
  Yeah,
• 2:37
  that's
• 2:37
  why
• 2:37
  I
• 2:37
  go
• 2:37
  to
• 2:37
  store.
• 2:38
  It's
• 2:38
  kind
• 2:38
  of
• 2:38
  mind
• 2:38
  blowing.
• 2:38
  I
• 2:39
  mean,
• 2:39
  I
• 2:39
  remember
• 2:39
  you
• 2:39
  told
• 2:39
  me
• 2:39
  it's
• 2:40
  majority
• 2:40
  of
• 2:40
  it,
• 2:41
  but
• 2:41
  yeah,
• 2:41
  it's
• 2:41
  kind
• 2:41
  of
• 2:41
  mind
• 2:41
  blowing
• 2:42
  when
• 2:42
  you
• 2:42
  think
• 2:42
  about
• 2:42
  it.
• 2:43
  So
• 2:43
  then
• 2:43
  you
• 2:43
  start
• 2:43
  thinking
• 2:43
  about
• 2:44
  what
• 2:44
  are
• 2:44
  we
• 2:44
  actually.
• 2:45
  And
• 2:45
  like
• 2:45
  people
• 2:45
  talked
• 2:46
  about
• 2:46
  us
• 2:46
  as
• 2:47
  a
• 2:47
  pharmacy
• 2:47
  or
• 2:47
  health
• 2:48
  and
• 2:48
  wellness
• 2:48
  destination.
• 2:49
  Last
• 2:50
  time
• 2:50
  I
• 2:50
  was
• 2:50
  at
• 2:50
  a
• 2:50
  cvs,
• 2:51
  aside
• 2:51
  from
• 2:51
  my
• 2:51
  job,
• 2:52
  was
• 2:52
  to
• 2:52
  like
• 2:53
  save
• 2:53
  my
• 2:53
  marriage
• 2:53
  for
• 2:53
  Valentine's
• 2:54
  Day.
• 2:55
  Right.
• 2:55
  Or
• 2:55
  as
• 2:56
  a
• 2:56
  parent
• 2:56
  getting
• 2:56
  like
• 2:57
  pens
• 2:57
  and
• 2:57
  crayons
• 2:58
  for
• 2:58
  my
• 2:58
  kids,
• 2:59
  what
• 2:59
  we
• 3:00
  really
• 3:00
  are,
• 3:00
  as
• 3:00
  much
• 3:01
  as
• 3:01
  anything
• 3:01
  else
• 3:02
  is
• 3:03
  the
• 3:03
  local
• 3:03
  community
• 3:04
  store.
• 3:04
  Like
• 3:04
  we're
• 3:05
  there
• 3:05
  for
• 3:05
  your
• 3:06
  last
• 3:06
  minute
• 3:06
  needs,
• 3:06
  for
• 3:06
  things
• 3:07
  you
• 3:07
  need
• 3:07
  immediately
• 3:07
  when
• 3:08
  you
• 3:08
  run
• 3:08
  out
• 3:08
  of
• 3:09
  sugar
• 3:09
  or
• 3:09
  cereal
• 3:10
  or
• 3:10
  anything
• 3:10
  else.
• 3:12
  Health
• 3:12
  and
• 3:13
  wellness
• 3:13
  is
• 3:13
  a
• 3:13
  core
• 3:13
  part
• 3:14
  of
• 3:14
  our
• 3:14
  DNA
• 3:14
  and
• 3:14
  we're
• 3:14
  not
• 3:15
  walking
• 3:15
  away
• 3:15
  from
• 3:15
  it.
• 3:16
  But
• 3:16
  our
• 3:16
  genome
• 3:17
  is
• 3:17
  more
• 3:17
  than
• 3:17
  just
• 3:17
  health
• 3:18
  and
• 3:18
  wellness.
• 3:18
  It's
• 3:18
  like
• 3:19
  those
• 3:19
  everyday
• 3:19
  essentials
• 3:20
  that
• 3:20
  just
• 3:20
  make
• 3:20
  life
• 3:21
  easier
• 3:21
  and
• 3:21
  more
• 3:21
  possible.
• 3:22
  Right.
• 3:22
  So
• 3:22
  I
• 3:22
  want
• 3:22
  to
• 3:22
  talk
• 3:23
  to
• 3:23
  you
• 3:23
  more
• 3:23
  about
• 3:23
  that.
• 3:23
  But
• 3:24
  too
• 3:24
  I
• 3:24
  also
• 3:24
  want
• 3:24
  to
• 3:24
  get
• 3:24
  a
• 3:24
  sense
• 3:25
  of
• 3:25
  your
• 3:25
  background
• 3:25
  because
• 3:25
  we
• 3:26
  always
• 3:26
  like
• 3:26
  telling
• 3:26
  our
• 3:26
  audience
• 3:27
  like
• 3:27
  how
• 3:27
  people
• 3:28
  got
• 3:28
  to
• 3:28
  where
• 3:28
  they
• 3:29
  are
• 3:29
  and
• 3:29
  your
• 3:29
  background
• 3:30
  is
• 3:30
  really
• 3:30
  unique.
• 3:30
  Talk
• 3:30
  about
• 3:31
  it.
• 3:31
  So
• 3:32
  I
• 3:32
  joined
• 3:32
  CVS
• 3:33
  about
• 3:33
  three
• 3:33
  years
• 3:33
  ago.
• 3:34
  Three
• 3:34
  years
• 3:34
  ago.
• 3:35
  I
• 3:35
  was
• 3:35
  with
• 3:35
  Walmart
• 3:36
  for
• 3:36
  six
• 3:36
  years
• 3:36
  before
• 3:36
  that
• 3:37
  came
• 3:38
  to
• 3:38
  Walmart
• 3:38
  because
• 3:39
  Walmart
• 3:39
  acquired
• 3:40
  Jet.com,
• 3:40
  as
• 3:40
  part
• 3:41
  of
• 3:41
  a
• 3:41
  startup.
• 3:42
  I
• 3:42
  was
• 3:42
  with
• 3:42
  Vitamin
• 3:43
  Shop
• 3:43
  before
• 3:43
  that.
• 3:43
  So
• 3:43
  a
• 3:44
  long
• 3:44
  time
• 3:44
  in
• 3:44
  retail
• 3:46
  and
• 3:46
  CVS
• 3:47
  is
• 3:47
  like,
• 3:47
  was
• 3:48
  really
• 3:48
  attractive
• 3:49
  because
• 3:49
  the
• 3:49
  people
• 3:49
  and
• 3:50
  the
• 3:50
  mission
• 3:51
  and
• 3:51
  just
• 3:51
  the
• 3:51
  opportunity
• 3:52
  we
• 3:52
  have
• 3:52
  to
• 3:52
  really
• 3:53
  transform
• 3:53
  what
• 3:53
  we
• 3:53
  do.
• 3:54
  Yeah.
• 3:54
  So
• 3:54
  I'm
• 3:54
  curious,
• 3:55
  how
• 3:55
  does,
• 3:55
  how
• 3:55
  do,
• 3:56
  how
• 3:56
  does
• 3:56
  one
• 3:56
  compare
• 3:57
  the
• 3:57
  CVS
• 3:57
  experience
• 3:58
  to
• 3:58
  the
• 3:58
  Walmart
• 3:58
  experience?
• 3:59
  What's
• 3:59
  the
• 3:59
  same,
• 3:59
  what's
• 4:00
  different?
• 4:00
  I've
• 4:01
  never
• 4:01
  got
• 4:01
  to
• 4:01
  ask
• 4:01
  anybody
• 4:01
  that.
• 4:02
  Walmart's
• 4:03
  an
• 4:03
  incredible
• 4:04
  retailer.
• 4:04
  And
• 4:04
  like
• 4:05
  what
• 4:05
  I
• 4:05
  take
• 4:05
  away
• 4:05
  from
• 4:06
  those
• 4:06
  six
• 4:06
  years
• 4:07
  is,
• 4:08
  you
• 4:08
  may
• 4:08
  remember
• 4:08
  this,
• 4:09
  but
• 4:09
  in
• 4:09
  2014,
• 4:10
  2015,
• 4:11
  everyone
• 4:11
  was
• 4:11
  talking
• 4:12
  about
• 4:12
  Amazon
• 4:12
  and
• 4:12
  Target.
• 4:12
  Yep.
• 4:13
  And
• 4:14
  people
• 4:14
  had
• 4:14
  written
• 4:14
  Walmart
• 4:15
  off.
• 4:15
  Yeah,
• 4:15
  they
• 4:15
  had
• 4:15
  and
• 4:16
  what
• 4:16
  Doug
• 4:16
  has
• 4:16
  done
• 4:17
  over
• 4:18
  the
• 4:18
  last
• 4:19
  like
• 4:19
  6,
• 4:20
  7,
• 4:20
  8
• 4:20
  years
• 4:20
  is
• 4:21
  mind
• 4:21
  blowing.
• 4:22
  Like,
• 4:22
  we
• 4:23
  forget
• 4:23
  how
• 4:23
  much
• 4:23
  transformation
• 4:24
  there's
• 4:24
  been
• 4:24
  in
• 4:24
  that
• 4:25
  business.
• 4:26
  We're
• 4:26
  like
• 4:27
  the
• 4:27
  early
• 4:27
  part
• 4:27
  of
• 4:27
  that
• 4:28
  journey.
• 4:28
  Like,
• 4:28
  there's
• 4:28
  a
• 4:29
  lot
• 4:29
  to
• 4:30
  continue
• 4:30
  getting
• 4:30
  right
• 4:30
  at
• 4:31
  cvs.
• 4:32
  But
• 4:32
  Walmart
• 4:32
  is
• 4:32
  this
• 4:33
  incredible
• 4:33
  example
• 4:33
  of
• 4:34
  like,
• 4:34
  don't
• 4:34
  write,
• 4:35
  don't
• 4:35
  write
• 4:35
  a
• 4:35
  retailer
• 4:36
  off.
• 4:36
  Like
• 4:36
  they
• 4:36
  can
• 4:37
  come
• 4:37
  back
• 4:37
  and
• 4:37
  really
• 4:37
  surprise
• 4:38
  you.
• 4:38
  Yeah.
• 4:39
  Okay.
• 4:39
  I
• 4:40
  want.
• 4:40
  I'm
• 4:40
  still
• 4:41
  not
• 4:41
  done
• 4:41
  with
• 4:41
  my
• 4:41
  question
• 4:42
  about
• 4:42
  store.
• 4:43
  I
• 4:43
  have
• 4:43
  more
• 4:44
  questions
• 4:44
  for
• 4:44
  you,
• 4:44
  Musab.
• 4:45
  So
• 4:46
  you're
• 4:46
  doing
• 4:46
  this
• 4:47
  pilot
• 4:47
  where
• 4:48
  you're
• 4:48
  doing
• 4:49
  pretty
• 4:49
  much
• 4:50
  no
• 4:50
  front
• 4:50
  of
• 4:50
  store,
• 4:51
  just
• 4:51
  pharmacy.
• 4:52
  And
• 4:53
  then
• 4:53
  you're
• 4:53
  going
• 4:53
  to
• 4:53
  continue
• 4:54
  to
• 4:54
  expand
• 4:55
  your
• 4:55
  pharmacies
• 4:56
  inside
• 4:56
  of
• 4:57
  Target
• 4:57
  stores.
• 4:58
  You're
• 4:58
  going
• 4:58
  to
• 4:58
  continue
• 4:58
  to
• 4:59
  build
• 4:59
  full
• 4:59
  size
• 4:59
  CVS
• 5:00
  stores.
• 5:01
  How
• 5:01
  do
• 5:01
  you
• 5:01
  think
• 5:02
  about
• 5:02
  the
• 5:02
  merchandising
• 5:03
  strategy
• 5:04
  for
• 5:04
  those
• 5:05
  new
• 5:05
  and
• 5:05
  future
• 5:06
  front
• 5:06
  of
• 5:06
  store
• 5:06
  locations?
• 5:07
  And
• 5:07
  then
• 5:08
  will
• 5:09
  you
• 5:09
  still
• 5:09
  sell
• 5:09
  stuff
• 5:10
  in
• 5:10
  like,
• 5:10
  will
• 5:11
  there
• 5:11
  be
• 5:11
  things
• 5:11
  for
• 5:12
  sale,
• 5:12
  like
• 5:12
  impulse
• 5:12
  purchases
• 5:13
  for
• 5:13
  sale
• 5:13
  for
• 5:14
  the
• 5:14
  pharmacy?
• 5:14
  Like,
• 5:15
  how
• 5:15
  much
• 5:15
  can
• 5:15
  you
• 5:15
  share
• 5:15
  with
• 5:16
  us
• 5:16
  about
• 5:16
  what
• 5:16
  we
• 5:16
  can
• 5:17
  expect
• 5:17
  for
• 5:17
  these
• 5:18
  new
• 5:18
  store
• 5:18
  formats?
• 5:19
  All
• 5:19
  right,
• 5:19
  so
• 5:19
  let
• 5:19
  me
• 5:19
  take
• 5:19
  a
• 5:19
  step
• 5:20
  back.
• 5:20
  So
• 5:20
  we
• 5:20
  have
• 5:20
  9,000
• 5:21
  locations
• 5:21
  around
• 5:21
  the
• 5:21
  country.
• 5:22
  Right.
• 5:22
  That's
• 5:22
  a
• 5:22
  lot
• 5:23
  of
• 5:23
  locations.
• 5:23
  And
• 5:24
  even
• 5:24
  on
• 5:25
  the
• 5:25
  strip,
• 5:25
  we've
• 5:25
  got
• 5:25
  three
• 5:25
  CVS's.
• 5:26
  Yes.
• 5:27
  Been
• 5:27
  to
• 5:27
  them.
• 5:27
  Yes.
• 5:28
  So
• 5:28
  as
• 5:28
  you
• 5:28
  think
• 5:28
  about
• 5:29
  the
• 5:29
  CVS's
• 5:30
  within,
• 5:30
  let's
• 5:31
  say
• 5:31
  a
• 5:32
  10
• 5:32
  minute
• 5:32
  drive
• 5:32
  from
• 5:32
  your
• 5:32
  house.
• 5:33
  Yes.
• 5:33
  They
• 5:34
  serve
• 5:34
  really
• 5:35
  small
• 5:35
  trade
• 5:35
  areas.
• 5:37
  And
• 5:38
  most
• 5:39
  of
• 5:39
  the
• 5:39
  time
• 5:39
  when
• 5:39
  you
• 5:39
  talk
• 5:39
  about
• 5:40
  mass
• 5:40
  retail
• 5:40
  or
• 5:41
  organized
• 5:41
  retail,
• 5:41
  you
• 5:42
  think
• 5:42
  about
• 5:42
  a
• 5:42
  single
• 5:42
  box
• 5:43
  concept
• 5:43
  across
• 5:43
  the
• 5:43
  country.
• 5:44
  Country.
• 5:45
  But
• 5:45
  the
• 5:45
  opportunity
• 5:45
  for
• 5:46
  us
• 5:46
  is
• 5:46
  to
• 5:46
  not
• 5:47
  think
• 5:47
  about
• 5:47
  one
• 5:48
  experience
• 5:48
  everywhere,
• 5:50
  but
• 5:50
  to
• 5:50
  think
• 5:50
  about
• 5:50
  what's
• 5:51
  the
• 5:51
  right
• 5:51
  experience
• 5:51
  for
• 5:52
  that
• 5:52
  particular
• 5:52
  location
• 5:53
  in
• 5:53
  that
• 5:53
  small
• 5:53
  trade
• 5:54
  area.
• 5:54
  And
• 5:54
  that
• 5:54
  is
• 5:55
  so
• 5:55
  hard
• 5:55
  to
• 5:55
  do.
• 5:56
  Like
• 5:56
  five
• 5:56
  years
• 5:56
  ago
• 5:56
  you
• 5:57
  couldn't
• 5:57
  do
• 5:57
  that.
• 5:57
  The
• 5:57
  technology
• 5:57
  didn't
• 5:58
  exist.
• 5:58
  But
• 5:58
  now
• 5:58
  the
• 5:59
  technology
• 5:59
  with
• 5:59
  AI
• 6:00
  and
• 6:00
  other
• 6:00
  things
• 6:00
  allows
• 6:00
  us
• 6:01
  to
• 6:02
  think
• 6:02
  about
• 6:02
  every
• 6:02
  single
• 6:03
  one
• 6:03
  of
• 6:03
  our
• 6:03
  stores
• 6:03
  as
• 6:04
  a
• 6:04
  sole
• 6:04
  proprietor,
• 6:05
  but
• 6:05
  with
• 6:06
  the
• 6:06
  efficiency
• 6:06
  of
• 6:06
  scale.
• 6:07
  And
• 6:07
  so
• 6:07
  the
• 6:07
  small
• 6:07
  box
• 6:08
  formats,
• 6:08
  or
• 6:08
  health
• 6:08
  and
• 6:09
  wellness
• 6:09
  formats,
• 6:09
  or
• 6:10
  our
• 6:10
  healthcare
• 6:11
  delivery
• 6:11
  formats,
• 6:12
  they
• 6:13
  all
• 6:13
  have
• 6:13
  to
• 6:13
  kind
• 6:13
  of
• 6:13
  fit
• 6:14
  within
• 6:15
  the
• 6:15
  community
• 6:15
  and
• 6:16
  the
• 6:16
  locale
• 6:16
  that
• 6:16
  they're
• 6:17
  serving.
• 6:18
  So
• 6:18
  we're
• 6:18
  gonna
• 6:18
  have
• 6:19
  full
• 6:19
  boxes
• 6:20
  without
• 6:20
  pharmacies,
• 6:21
  we're
• 6:21
  gonna
• 6:21
  have
• 6:22
  our
• 6:22
  standard
• 6:22
  CVS
• 6:23
  that
• 6:23
  most
• 6:23
  people
• 6:23
  think
• 6:23
  of
• 6:24
  as
• 6:24
  CVS
• 6:24
  and
• 6:24
  a
• 6:25
  pharmacy
• 6:25
  in
• 6:25
  a
• 6:25
  front
• 6:25
  store.
• 6:26
  We're
• 6:26
  go
• 6:26
  standalone
• 6:27
  pharmacy
• 6:27
  locations
• 6:28
  where
• 6:28
  there
• 6:29
  might
• 6:29
  be
• 6:29
  a
• 6:29
  pharmacy
• 6:29
  desert
• 6:30
  and
• 6:30
  we
• 6:30
  don't
• 6:30
  really
• 6:30
  need
• 6:31
  retail
• 6:31
  there.
• 6:32
  But
• 6:32
  it's
• 6:32
  all
• 6:32
  about
• 6:33
  finding
• 6:33
  the
• 6:33
  right
• 6:34
  consumer
• 6:34
  value
• 6:35
  proposition
• 6:35
  for
• 6:35
  the
• 6:36
  small
• 6:36
  space.
• 6:36
  In
• 6:36
  which
• 6:37
  we
• 6:37
  serve.
• 6:38
  So
• 6:38
  what
• 6:38
  kind
• 6:38
  of
• 6:39
  technology
• 6:39
  or
• 6:40
  processes
• 6:41
  or
• 6:41
  people
• 6:42
  do
• 6:42
  you
• 6:42
  need
• 6:42
  to
• 6:42
  invest
• 6:43
  in
• 6:43
  then
• 6:43
  to
• 6:44
  make
• 6:44
  all
• 6:44
  of
• 6:44
  those
• 6:45
  options
• 6:45
  possible?
• 6:46
  This
• 6:46
  is
• 6:46
  what's
• 6:46
  so
• 6:46
  fun
• 6:47
  about
• 6:47
  my
• 6:47
  job.
• 6:47
  So
• 6:48
  what
• 6:48
  we're
• 6:48
  embarked
• 6:49
  on
• 6:49
  now
• 6:49
  is
• 6:50
  really
• 6:50
  investing
• 6:50
  in
• 6:50
  machine
• 6:51
  learning
• 6:52
  to
• 6:52
  take
• 6:52
  the
• 6:52
  complexities
• 6:53
  out
• 6:53
  of
• 6:53
  our
• 6:53
  system
• 6:54
  and
• 6:54
  then
• 6:54
  add
• 6:54
  them
• 6:54
  back
• 6:55
  in.
• 6:55
  So
• 6:55
  we
• 6:55
  have
• 6:56
  190
• 6:57
  million
• 6:58
  store
• 6:58
  SKU
• 6:58
  combinations.
• 7:00
  We
• 7:00
  have
• 7:00
  900
• 7:01
  billion
• 7:03
  value
• 7:03
  SKU
• 7:04
  combinations
• 7:04
  across
• 7:05
  our
• 7:05
  fleet.
• 7:06
  And
• 7:06
  so
• 7:06
  what
• 7:06
  we
• 7:07
  are
• 7:07
  trying
• 7:07
  to
• 7:07
  do
• 7:07
  is
• 7:08
  use
• 7:08
  technology
• 7:08
  to
• 7:09
  look
• 7:09
  at
• 7:09
  external
• 7:10
  data
• 7:10
  like
• 7:10
  who
• 7:11
  are
• 7:11
  the
• 7:11
  competitors,
• 7:11
  how
• 7:12
  customers
• 7:12
  are
• 7:12
  shopping,
• 7:13
  look
• 7:13
  at
• 7:13
  internal
• 7:14
  data,
• 7:14
  what
• 7:15
  people
• 7:15
  are
• 7:15
  buying,
• 7:15
  how
• 7:16
  frequently
• 7:16
  they're
• 7:16
  buying,
• 7:17
  and
• 7:17
  then
• 7:18
  automatically
• 7:19
  design
• 7:19
  planograms
• 7:20
  for
• 7:20
  that
• 7:20
  store
• 7:21
  that
• 7:21
  are
• 7:21
  really
• 7:21
  relevant,
• 7:21
  that
• 7:22
  take
• 7:22
  the
• 7:22
  human
• 7:22
  out
• 7:22
  of
• 7:22
  the
• 7:23
  process.
• 7:24
  Okay,
• 7:24
  so
• 7:25
  you
• 7:25
  want.
• 7:25
  Okay.
• 7:25
  Interesting,
• 7:26
  interesting.
• 7:26
  I
• 7:26
  didn't
• 7:26
  know
• 7:27
  that
• 7:27
  part.
• 7:27
  All
• 7:28
  right,
• 7:28
  so
• 7:28
  you
• 7:28
  and
• 7:28
  I
• 7:28
  are
• 7:28
  speaking
• 7:29
  on
• 7:29
  stage.
• 7:29
  We've
• 7:29
  already
• 7:29
  teased
• 7:30
  it
• 7:30
  today.
• 7:30
  What
• 7:31
  do
• 7:31
  you.
• 7:32
  In
• 7:32
  addition
• 7:32
  to
• 7:32
  what
• 7:32
  you've
• 7:33
  already
• 7:33
  shared,
• 7:33
  what
• 7:33
  else
• 7:34
  do
• 7:34
  you
• 7:34
  hope
• 7:34
  the
• 7:34
  audience
• 7:35
  takes
• 7:35
  away
• 7:36
  for
• 7:36
  those
• 7:36
  that
• 7:37
  can't
• 7:37
  watch?
• 7:37
  Yeah,
• 7:38
  I
• 7:39
  think
• 7:39
  my
• 7:39
  number
• 7:40
  one
• 7:40
  takeaway
• 7:41
  is
• 7:41
  that
• 7:42
  similar
• 7:42
  to
• 7:42
  what
• 7:42
  we
• 7:43
  talked
• 7:43
  about
• 7:43
  is
• 7:43
  Walmart
• 7:44
  a
• 7:44
  couple
• 7:44
  years
• 7:44
  ago,
• 7:45
  people
• 7:45
  look
• 7:45
  at
• 7:45
  this
• 7:45
  channel,
• 7:46
  look
• 7:46
  at
• 7:46
  the
• 7:46
  challenges
• 7:47
  that
• 7:47
  are
• 7:47
  happening
• 7:47
  in
• 7:47
  the
• 7:48
  channel
• 7:49
  and
• 7:49
  immediately
• 7:49
  jump
• 7:49
  to
• 7:50
  a
• 7:50
  conclusion.
• 7:51
  Our
• 7:52
  aperture
• 7:52
  at
• 7:53
  CVS
• 7:53
  is
• 7:54
  to
• 7:54
  compete
• 7:54
  in
• 7:54
  retail.
• 7:55
  We
• 7:55
  know
• 7:55
  consumers
• 7:56
  don't
• 7:56
  think
• 7:56
  about
• 7:56
  channels,
• 7:57
  they
• 7:57
  think
• 7:57
  about
• 7:57
  retailers.
• 7:58
  And
• 7:58
  the
• 7:58
  role
• 7:59
  we
• 7:59
  specifically
• 8:00
  play
• 8:00
  is
• 8:01
  to
• 8:01
  serve
• 8:02
  as
• 8:02
  a
• 8:02
  community
• 8:03
  destination
• 8:03
  for
• 8:04
  your
• 8:04
  everyday
• 8:05
  needs.
• 8:05
  Okay.
• 8:06
  Includes
• 8:06
  healthcare
• 8:06
  and
• 8:07
  beauty
• 8:07
  and
• 8:07
  the
• 8:07
  pharmacy
• 8:08
  experience
• 8:08
  for
• 8:08
  sure.
• 8:09
  But
• 8:09
  it's
• 8:09
  a
• 8:09
  lot
• 8:09
  more
• 8:09
  than
• 8:10
  that.
• 8:10
  And
• 8:10
  like
• 8:10
  that
• 8:11
  focus
• 8:11
  on
• 8:12
  our
• 8:12
  original
• 8:13
  value
• 8:13
  proposition.
• 8:14
  We
• 8:14
  think
• 8:14
  back
• 8:14
  to
• 8:14
  like
• 8:14
  what
• 8:14
  CVS
• 8:15
  was
• 8:15
  when
• 8:15
  it
• 8:16
  first
• 8:16
  started,
• 8:16
  I
• 8:17
  think
• 8:17
  will
• 8:17
  continue
• 8:17
  to
• 8:18
  create
• 8:18
  meaningful
• 8:19
  need
• 8:19
  for
• 8:19
  us
• 8:20
  going
• 8:20
  forward.
• 8:20
  So
• 8:20
  it's
• 8:21
  not.
• 8:21
  So
• 8:21
  if
• 8:21
  I
• 8:21
  hear
• 8:21
  you
• 8:21
  right,
• 8:22
  it's
• 8:22
  not
• 8:22
  the
• 8:22
  convenience
• 8:23
  trip
• 8:23
  per
• 8:23
  se,
• 8:24
  it's
• 8:24
  more
• 8:24
  what
• 8:24
  whatever
• 8:25
  the
• 8:25
  local
• 8:25
  community
• 8:26
  needs
• 8:26
  from
• 8:27
  CVS
• 8:27
  that's
• 8:28
  driving
• 8:28
  the
• 8:28
  strategy
• 8:29
  here.
• 8:29
  Yeah,
• 8:30
  I
• 8:30
  think
• 8:30
  convenience
• 8:30
  is
• 8:30
  a
• 8:31
  strong
• 8:31
  part
• 8:31
  of
• 8:31
  it.
• 8:31
  It's
• 8:31
  probably
• 8:32
  a
• 8:32
  portion
• 8:32
  of
• 8:32
  it,
• 8:32
  right?
• 8:32
  Portion
• 8:33
  of
• 8:33
  it,
• 8:33
  yeah.
• 8:33
  And
• 8:33
  convenience
• 8:34
  is
• 8:34
  certainly
• 8:35
  becoming
• 8:36
  harder
• 8:36
  to
• 8:36
  compete
• 8:36
  in
• 8:37
  with
• 8:37
  at
• 8:37
  home
• 8:38
  delivery.
• 8:38
  But
• 8:39
  if
• 8:39
  the
• 8:39
  club
• 8:39
  channel
• 8:40
  serves
• 8:41
  to
• 8:41
  like
• 8:41
  build
• 8:41
  your
• 8:42
  pantry
• 8:42
  and
• 8:42
  the
• 8:42
  box
• 8:43
  channel
• 8:43
  serves
• 8:44
  to
• 8:44
  build
• 8:44
  your
• 8:44
  basket
• 8:45
  and
• 8:45
  like
• 8:45
  e
• 8:45
  commerce
• 8:46
  Pure
• 8:46
  play
• 8:46
  allows
• 8:46
  you
• 8:46
  to
• 8:47
  rifle
• 8:47
  shot
• 8:47
  single
• 8:47
  items.
• 8:48
  We
• 8:49
  are
• 8:49
  there
• 8:49
  for
• 8:49
  like
• 8:50
  immediate
• 8:50
  gratification
• 8:51
  and
• 8:51
  that.
• 8:52
  Immediate
• 8:52
  gratification,
• 8:53
  interesting.
• 8:53
  It
• 8:53
  might
• 8:54
  be
• 8:54
  like
• 8:54
  acute
• 8:54
  immediate
• 8:55
  need,
• 8:55
  like
• 8:55
  I'm
• 8:55
  sick
• 8:55
  and
• 8:56
  I
• 8:56
  need
• 8:56
  a
• 8:56
  nyquil
• 8:56
  right
• 8:57
  now.
• 8:58
  It
• 8:58
  might
• 8:58
  be
• 8:58
  like
• 8:59
  I've
• 8:59
  run
• 8:59
  out
• 8:59
  of
• 8:59
  the
• 8:59
  cereal
• 8:59
  that
• 9:00
  I
• 9:00
  want
• 9:00
  and
• 9:00
  I
• 9:00
  Need
• 9:00
  it
• 9:00
  or
• 9:00
  run
• 9:01
  out
• 9:01
  of
• 9:01
  toilet
• 9:01
  paper.
• 9:01
  And
• 9:01
  I
• 9:01
  need.
• 9:03
  Might
• 9:03
  just
• 9:03
  be.
• 9:03
  I
• 9:04
  only
• 9:04
  need
• 9:04
  a
• 9:04
  few
• 9:04
  things.
• 9:04
  And
• 9:05
  this
• 9:05
  is
• 9:05
  so
• 9:05
  much
• 9:05
  easier
• 9:05
  and
• 9:06
  faster
• 9:06
  for
• 9:07
  somebody
• 9:07
  to
• 9:07
  come
• 9:07
  in
• 9:07
  and
• 9:07
  out
• 9:07
  of
• 9:08
  than
• 9:08
  a
• 9:08
  big
• 9:08
  box
• 9:08
  store.
• 9:09
  So,
• 9:09
  Musab,
• 9:10
  is
• 9:10
  there
• 9:10
  an.
• 9:11
  Is
• 9:11
  there
• 9:11
  a
• 9:11
  category
• 9:13
  that
• 9:13
  you
• 9:14
  feel
• 9:14
  like
• 9:14
  is
• 9:15
  kind
• 9:15
  of
• 9:15
  leading
• 9:15
  the
• 9:16
  trend?
• 9:16
  Whether
• 9:16
  that's
• 9:16
  like,
• 9:17
  food,
• 9:18
  beauty,
• 9:18
  healthcare,
• 9:19
  like,
• 9:20
  of
• 9:20
  all
• 9:20
  the
• 9:20
  categories
• 9:21
  that
• 9:21
  you're
• 9:22
  expanding
• 9:22
  in
• 9:23
  or
• 9:24
  you're
• 9:24
  gonna
• 9:24
  adjust
• 9:25
  based
• 9:25
  on
• 9:25
  the
• 9:25
  geography,
• 9:26
  is
• 9:27
  there
• 9:27
  one
• 9:27
  that
• 9:27
  you
• 9:27
  feel
• 9:27
  like
• 9:28
  we're
• 9:28
  really
• 9:28
  gonna
• 9:29
  index
• 9:29
  higher
• 9:30
  in
• 9:31
  food?
• 9:32
  Yeah.
• 9:32
  So
• 9:32
  let
• 9:33
  me
• 9:33
  say,
• 9:33
  across
• 9:33
  the
• 9:33
  board,
• 9:34
  when
• 9:34
  I
• 9:34
  look
• 9:34
  at,
• 9:35
  like,
• 9:35
  our
• 9:35
  market
• 9:35
  share
• 9:35
  data,
• 9:36
  we're
• 9:36
  seeing
• 9:36
  really
• 9:37
  positive
• 9:37
  success
• 9:38
  across
• 9:38
  all
• 9:39
  categories.
• 9:39
  Okay.
• 9:41
  I
• 9:41
  think
• 9:41
  the
• 9:41
  place
• 9:42
  that
• 9:42
  we
• 9:42
  continue
• 9:42
  to
• 9:42
  have
• 9:42
  more
• 9:43
  opportunity
• 9:43
  to
• 9:43
  expand
• 9:45
  is
• 9:45
  really
• 9:45
  around
• 9:46
  consumables
• 9:46
  and
• 9:47
  general
• 9:47
  merchandise.
• 9:47
  Okay.
• 9:48
  So
• 9:48
  our
• 9:48
  health
• 9:48
  and
• 9:48
  beauty
• 9:48
  assortment
• 9:49
  tends
• 9:49
  to
• 9:49
  be
• 9:49
  pretty
• 9:50
  strong
• 9:50
  today.
• 9:52
  We've
• 9:52
  gotten,
• 9:52
  I
• 9:53
  think,
• 9:54
  a
• 9:54
  little
• 9:54
  weaker
• 9:55
  historically
• 9:55
  in
• 9:56
  our
• 9:56
  general
• 9:56
  merchandise
• 9:56
  and
• 9:56
  consumables
• 9:57
  category.
• 9:58
  And
• 9:58
  if
• 9:58
  you
• 9:58
  look
• 9:58
  at
• 9:58
  what
• 9:58
  the
• 9:59
  team
• 9:59
  has
• 9:59
  done
• 9:59
  on
• 9:59
  seasonal,
• 9:59
  like
• 10:00
  our
• 10:00
  Easter
• 10:00
  assortment
• 10:01
  right
• 10:01
  now,
• 10:01
  Halloween,
• 10:02
  Christmas,
• 10:03
  Valentine's
• 10:03
  Day,
• 10:04
  that
• 10:04
  assortment
• 10:05
  continues
• 10:05
  to
• 10:05
  get
• 10:05
  stronger
• 10:06
  and
• 10:06
  stronger
• 10:06
  and
• 10:06
  it
• 10:06
  keeps
• 10:07
  bringing
• 10:07
  people
• 10:07
  in.
• 10:08
  So
• 10:08
  it's
• 10:09
  really.
• 10:09
  It's
• 10:10
  all
• 10:10
  those
• 10:10
  categories
• 10:10
  that
• 10:11
  bring
• 10:11
  in
• 10:11
  customers
• 10:11
  outside
• 10:12
  of
• 10:12
  health
• 10:12
  and
• 10:12
  beauty
• 10:12
  that
• 10:13
  will
• 10:13
  continue
• 10:13
  to
• 10:13
  expand
• 10:13
  and
• 10:14
  get
• 10:14
  stronger
• 10:14
  over
• 10:14
  time.
• 10:15
  Wow,
• 10:15
  that's
• 10:16
  really
• 10:16
  interesting,
• 10:16
  Musab.
• 10:17
  You
• 10:17
  know,
• 10:17
  Ann
• 10:17
  and
• 10:17
  I
• 10:17
  always
• 10:17
  talk
• 10:17
  about,
• 10:18
  like,
• 10:18
  the
• 10:18
  five
• 10:18
  reasons
• 10:19
  stores
• 10:19
  exist,
• 10:19
  you
• 10:20
  know,
• 10:20
  and
• 10:20
  immediate
• 10:20
  gratification
• 10:21
  being
• 10:21
  one
• 10:21
  of
• 10:21
  those.
• 10:22
  And
• 10:22
  it's
• 10:22
  oftentimes
• 10:23
  the
• 10:23
  most
• 10:23
  untalked
• 10:24
  about
• 10:25
  of
• 10:25
  the
• 10:25
  five
• 10:26
  dimensions,
• 10:26
  you
• 10:26
  know,
• 10:26
  and
• 10:27
  so
• 10:27
  that's
• 10:27
  really
• 10:27
  interesting
• 10:27
  to
• 10:28
  hear
• 10:28
  you
• 10:28
  say
• 10:28
  that
• 10:28
  you're
• 10:28
  thinking
• 10:29
  about
• 10:29
  cvs
• 10:29
  and
• 10:30
  the
• 10:30
  design
• 10:30
  of
• 10:30
  CVS
• 10:31
  to
• 10:31
  promote
• 10:31
  immediate
• 10:32
  gratification
• 10:33
  in
• 10:33
  the
• 10:33
  community
• 10:34
  is,
• 10:34
  you
• 10:34
  know.
• 10:34
  We'Re
• 10:35
  joking
• 10:35
  about
• 10:35
  the
• 10:35
  dog.
• 10:35
  The
• 10:36
  puppies.
• 10:36
  Yeah.
• 10:36
  But,
• 10:37
  like,
• 10:37
  what
• 10:37
  the
• 10:37
  puppies
• 10:37
  actually
• 10:38
  tell
• 10:38
  us
• 10:38
  is
• 10:38
  that
• 10:39
  people
• 10:39
  crave
• 10:40
  connection.
• 10:40
  Yeah.
• 10:41
  Now
• 10:41
  we
• 10:41
  won't
• 10:42
  have
• 10:42
  puppies
• 10:42
  in
• 10:42
  our
• 10:42
  stores,
• 10:43
  but,
• 10:43
  like,
• 10:43
  being
• 10:43
  able
• 10:44
  to
• 10:44
  interact
• 10:44
  with
• 10:44
  a
• 10:44
  colleague,
• 10:45
  being
• 10:45
  able
• 10:45
  to
• 10:45
  like
• 10:45
  that.
• 10:45
  Do
• 10:45
  you
• 10:45
  want
• 10:46
  that
• 10:46
  on
• 10:46
  record?
• 10:46
  Are
• 10:46
  you
• 10:47
  sure?
• 10:47
  Yeah,
• 10:47
  yeah.
• 10:48
  I'm
• 10:48
  pretty
• 10:48
  confident
• 10:48
  we
• 10:48
  won't
• 10:49
  have
• 10:49
  puppies
• 10:49
  in
• 10:49
  our
• 10:49
  store.
• 10:51
  I
• 10:52
  might
• 10:52
  be
• 10:52
  wrong,
• 10:52
  but
• 10:52
  I'm
• 10:52
  pretty
• 10:53
  confident
• 10:53
  we
• 10:53
  won't
• 10:53
  have
• 10:53
  puppies
• 10:53
  in
• 10:53
  our
• 10:53
  store.
• 10:54
  But,
• 10:54
  like,
• 10:54
  the
• 10:54
  human
• 10:55
  connection's
• 10:55
  super
• 10:55
  important.
• 10:56
  That,
• 10:56
  like,
• 10:57
  moment
• 10:58
  to
• 10:58
  say,
• 10:58
  okay,
• 10:59
  I
• 10:59
  checked
• 11:00
  something
• 11:00
  off
• 11:00
  my
• 11:00
  like
• 11:01
  to
• 11:01
  do
• 11:01
  list
• 11:01
  between
• 11:02
  work
• 11:02
  and
• 11:02
  home
• 11:02
  is
• 11:02
  super
• 11:03
  important.
• 11:03
  Yeah.
• 11:04
  It's
• 11:04
  going
• 11:04
  to
• 11:05
  continue
• 11:05
  to
• 11:05
  be
• 11:05
  a
• 11:05
  really
• 11:05
  important
• 11:05
  part
• 11:06
  of
• 11:06
  retail.
• 11:06
  Oh,
• 11:06
  my
• 11:06
  God.
• 11:07
  I
• 11:07
  have
• 11:07
  so
• 11:07
  many
• 11:07
  questions
• 11:07
  for
• 11:07
  you
• 11:08
  on
• 11:08
  that.
• 11:08
  But
• 11:08
  I'm
• 11:08
  going
• 11:08
  to
• 11:08
  have
• 11:08
  to
• 11:08
  save
• 11:09
  them
• 11:09
  for
• 11:09
  the
• 11:09
  stage.
• 11:09
  All
• 11:09
  right,
• 11:10
  are
• 11:11
  there
• 11:11
  any
• 11:11
  trends
• 11:12
  or.
• 11:12
  Let's
• 11:13
  get
• 11:13
  you
• 11:13
  out
• 11:13
  of
• 11:13
  here
• 11:13
  on
• 11:13
  this.
• 11:13
  Are
• 11:13
  there
• 11:13
  any
• 11:14
  trends
• 11:14
  or
• 11:15
  technologies
• 11:16
  that
• 11:16
  you're
• 11:16
  particularly
• 11:17
  interested
• 11:17
  in
• 11:18
  learning
• 11:18
  more
• 11:18
  about
• 11:19
  here
• 11:19
  at
• 11:19
  Shoptalk?
• 11:20
  Yeah,
• 11:20
  I
• 11:20
  mean,
• 11:21
  AI
• 11:21
  is
• 11:22
  certainly,
• 11:22
  like,
• 11:23
  overused
• 11:23
  as
• 11:23
  a
• 11:23
  term.
• 11:24
  It
• 11:24
  kind
• 11:24
  of
• 11:24
  reminds
• 11:24
  me
• 11:24
  of
• 11:24
  the
• 11:24
  first
• 11:25
  dot
• 11:25
  com
• 11:25
  bubble
• 11:25
  right
• 11:26
  back
• 11:26
  in
• 11:26
  the
• 11:27
  2000s.
• 11:27
  That
• 11:28
  said,
• 11:28
  there's
• 11:29
  so
• 11:29
  many
• 11:29
  interesting
• 11:30
  applications.
• 11:31
  So
• 11:31
  I
• 11:31
  was
• 11:32
  really
• 11:32
  energized
• 11:32
  by
• 11:33
  hearing
• 11:33
  Miriam
• 11:33
  talk
• 11:34
  about
• 11:34
  what
• 11:34
  she's
• 11:34
  doing
• 11:34
  at
• 11:34
  Arcade
• 11:35
  AI.
• 11:36
  Like,
• 11:36
  she's
• 11:37
  using
• 11:37
  AI
• 11:37
  to
• 11:38
  completely
• 11:38
  reimagine
• 11:39
  how
• 11:39
  consumers
• 11:40
  shop
• 11:41
  at
• 11:41
  a
• 11:41
  much
• 11:41
  more
• 11:41
  individual
• 11:42
  level
• 11:42
  and
• 11:42
  like
• 11:43
  to
• 11:43
  do
• 11:43
  that.
• 11:43
  There's
• 11:43
  supply
• 11:43
  chain,
• 11:44
  there's
• 11:45
  a
• 11:45
  customer
• 11:45
  interface,
• 11:46
  there's
• 11:47
  a
• 11:47
  pricing
• 11:48
  intelligence
• 11:48
  that
• 11:49
  goes
• 11:49
  behind
• 11:49
  it.
• 11:50
  I
• 11:50
  think
• 11:51
  AI
• 11:52
  and
• 11:53
  technology
• 11:53
  is
• 11:53
  certainly
• 11:53
  going
• 11:54
  to
• 11:54
  make
• 11:54
  us
• 11:55
  more
• 11:55
  efficient,
• 11:55
  solves
• 11:56
  problems
• 11:56
  faster.
• 11:57
  But
• 11:57
  it's
• 11:58
  really
• 11:58
  interesting
• 11:58
  as
• 11:58
  to,
• 11:58
  like,
• 11:59
  how
• 11:59
  it's
• 11:59
  going
• 11:59
  to
• 11:59
  change
• 12:00
  how
• 12:00
  we
• 12:00
  interact
• 12:00
  with
• 12:00
  the
• 12:01
  world.
• 12:01
  And
• 12:01
  like
• 12:01
  that
• 12:01
  I
• 12:01
  think,
• 12:02
  is
• 12:02
  really
• 12:02
  exciting.
• 12:03
  Yeah.
• 12:03
  So
• 12:03
  that's
• 12:03
  what
• 12:03
  you're
• 12:03
  excited
• 12:04
  to
• 12:04
  learn
• 12:04
  about
• 12:04
  here.
• 12:04
  All
• 12:05
  right,
• 12:05
  well,
• 12:06
  if
• 12:06
  you're
• 12:06
  watching
• 12:06
  this
• 12:07
  live
• 12:07
  and
• 12:07
  you
• 12:07
  got
• 12:07
  time
• 12:07
  to
• 12:08
  come
• 12:08
  check
• 12:08
  us
• 12:08
  out,
• 12:08
  we're
• 12:08
  going
• 12:08
  to
• 12:09
  be
• 12:09
  interviewing.
• 12:09
  I'm
• 12:09
  going
• 12:10
  to
• 12:10
  be
• 12:10
  interviewing
• 12:10
  Musab
• 12:11
  here
• 12:11
  at,
• 12:11
  I
• 12:11
  think
• 12:12
  4
• 12:12
  20,
• 12:13
  4,
• 12:13
  25,
• 12:14
  something
• 12:14
  like
• 12:14
  that.
• 12:15
  430
• 12:15
  ish,
• 12:16
  give
• 12:16
  or
• 12:16
  take.
• 12:16
  We'll
• 12:16
  be
• 12:16
  here
• 12:17
  until
• 12:17
  then.
• 12:18
  Yeah.
• 12:18
  And
• 12:19
  yeah.
• 12:19
  So
• 12:19
  until
• 12:19
  next
• 12:20
  time.
• 12:20
  And.
• 12:20
  Whoa,
• 12:20
  wait.
• 12:21
  Actually,
• 12:21
  thanks
• 12:21
  to
• 12:21
  Avalara
• 12:22
  for
• 12:22
  sponsoring
• 12:23
  all
• 12:23
  of
• 12:23
  our
• 12:23
  coverage
• 12:23
  at
• 12:24
  the
• 12:24
  show.
• 12:24
  We
• 12:24
  wouldn't
• 12:24
  be
• 12:24
  able
• 12:24
  to
• 12:25
  do
• 12:25
  this
• 12:25
  without
• 12:25
  them.
• 12:26
  They're
• 12:26
  still
• 12:26
  here.
• 12:27
  1554.
• 12:28
  And
• 12:29
  until
• 12:29
  next
• 12:29
  time.
• 12:29
  And
• 12:30
  when
• 12:30
  we're
• 12:30
  back
• 12:30
  tomorrow,
• 12:31
  be
• 12:31
  careful
• 12:31
  out
• 12:32
  there.