Latest / Omni Talk Retail / Why Space Planning Could Make or Break Many Grocery Retailers In The Years To Come | 5IM

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Why Space Planning Could Make or Break Many Grocery Retailers In The Years To Come | 5IM · Omni Talk Retail

• 0:00
  Foreigning
• 0:10
  us
• 0:10
  now
• 0:10
  for
• 0:10
  five
• 0:10
  insightful
• 0:11
  minutes
• 0:11
  is
• 0:11
  the
• 0:11
  A
• 0:12
  and
• 0:12
  M
• 0:12
  consumer
• 0:12
  and
• 0:12
  retail
• 0:13
  groups,
• 0:13
  Chris
• 0:13
  Crates
• 0:14
  and
• 0:14
  Brandon
• 0:15
  Peasley.
• 0:15
  Brandon
• 0:16
  and
• 0:16
  Chris
• 0:16
  are
• 0:16
  here
• 0:16
  to
• 0:17
  discuss
• 0:17
  A
• 0:17
  and
• 0:17
  M's
• 0:18
  latest
• 0:18
  research
• 0:18
  on
• 0:18
  the
• 0:19
  power
• 0:19
  of
• 0:19
  advanced
• 0:20
  space
• 0:20
  planning.
• 0:21
  And
• 0:21
  let
• 0:21
  me
• 0:21
  tell
• 0:21
  you
• 0:21
  folks,
• 0:22
  this
• 0:22
  could
• 0:22
  not
• 0:22
  be
• 0:23
  more
• 0:23
  timely.
• 0:23
  Chris,
• 0:24
  let's
• 0:24
  start
• 0:24
  with
• 0:24
  this.
• 0:25
  Why
• 0:25
  is
• 0:25
  it
• 0:25
  so
• 0:26
  important
• 0:26
  that
• 0:26
  grocers
• 0:27
  evaluate
• 0:27
  their
• 0:27
  space
• 0:28
  strategy
• 0:28
  now?
• 0:28
  What's
• 0:29
  changed?
• 0:29
  I
• 0:30
  think
• 0:30
  from
• 0:30
  a
• 0:30
  macro
• 0:30
  standpoint,
• 0:32
  highly
• 0:32
  inflationary
• 0:32
  environment.
• 0:33
  You
• 0:34
  also
• 0:34
  have
• 0:34
  E
• 0:35
  commerce
• 0:35
  hitting
• 0:36
  the
• 0:36
  center
• 0:37
  of
• 0:37
  the
• 0:37
  store
• 0:37
  and
• 0:38
  really
• 0:38
  changing
• 0:38
  what
• 0:39
  categories
• 0:39
  people
• 0:40
  look
• 0:40
  to
• 0:41
  grocery
• 0:41
  stores
• 0:41
  versus
• 0:42
  other
• 0:42
  channels
• 0:43
  for.
• 0:44
  On
• 0:45
  the
• 0:45
  fresh
• 0:46
  produce
• 0:47
  side,
• 0:47
  you
• 0:47
  have
• 0:48
  health
• 0:48
  and
• 0:48
  wellness
• 0:48
  taking
• 0:49
  center
• 0:49
  stage.
• 0:50
  You
• 0:50
  have
• 0:50
  the
• 0:50
  GLP1
• 0:51
  drugs
• 0:52
  really
• 0:52
  changing
• 0:52
  what
• 0:53
  people
• 0:53
  are
• 0:53
  shopping
• 0:54
  for
• 0:54
  in
• 0:54
  the
• 0:54
  store.
• 0:56
  And
• 0:56
  I
• 0:56
  think
• 0:57
  the
• 0:57
  kind
• 0:57
  of
• 0:58
  summary
• 0:58
  of
• 0:58
  it
• 0:59
  all
• 0:59
  is
• 0:59
  it's
• 0:59
  producing
• 1:00
  really
• 1:00
  different
• 1:00
  category
• 1:01
  outcomes
• 1:02
  in
• 1:02
  a
• 1:02
  grocery
• 1:03
  store.
• 1:04
  You
• 1:04
  know,
• 1:05
  our
• 1:05
  research
• 1:05
  shows
• 1:06
  over
• 1:06
  the
• 1:06
  last
• 1:06
  five
• 1:06
  years
• 1:07
  there's
• 1:07
  been
• 1:07
  about
• 1:07
  $37
• 1:08
  billion
• 1:09
  of
• 1:09
  growth
• 1:09
  in
• 1:10
  the
• 1:10
  fresh
• 1:10
  food,
• 1:10
  fresh
• 1:11
  and
• 1:11
  food
• 1:11
  areas
• 1:12
  of
• 1:12
  the
• 1:12
  store.
• 1:13
  On
• 1:13
  the
• 1:13
  other
• 1:13
  hand,
• 1:14
  you've
• 1:14
  got
• 1:14
  $27
• 1:15
  billion
• 1:16
  of
• 1:16
  revenue
• 1:17
  lost
• 1:17
  in
• 1:18
  general
• 1:18
  merchandising
• 1:19
  areas
• 1:19
  of
• 1:19
  the
• 1:20
  store.
• 1:20
  And
• 1:20
  so
• 1:20
  it's
• 1:21
  a
• 1:21
  really
• 1:21
  important
• 1:21
  time
• 1:22
  for
• 1:22
  grocers
• 1:22
  to
• 1:23
  step
• 1:23
  back
• 1:23
  and
• 1:23
  think
• 1:24
  about
• 1:25
  what
• 1:25
  they're
• 1:25
  using
• 1:25
  shelf
• 1:26
  space
• 1:26
  for
• 1:26
  in
• 1:26
  the
• 1:27
  stores,
• 1:27
  what
• 1:27
  their
• 1:28
  customer
• 1:28
  missions
• 1:29
  actually
• 1:29
  are,
• 1:29
  and
• 1:30
  how
• 1:30
  they
• 1:30
  can
• 1:30
  be
• 1:30
  more
• 1:31
  productive
• 1:31
  and
• 1:31
  differentiated
• 1:32
  for
• 1:32
  their
• 1:33
  customers
• 1:33
  with
• 1:33
  that
• 1:33
  space.
• 1:34
  This
• 1:34
  is
• 1:34
  a
• 1:35
  pretty
• 1:35
  big
• 1:35
  overhaul
• 1:36
  for
• 1:36
  retail
• 1:36
  organizations.
• 1:37
  What
• 1:37
  are
• 1:37
  retailers
• 1:38
  missing
• 1:39
  in
• 1:39
  this
• 1:39
  process?
• 1:40
  Like,
• 1:40
  what
• 1:40
  are
• 1:40
  some
• 1:40
  of
• 1:40
  the
• 1:41
  challenges
• 1:41
  that
• 1:41
  they're
• 1:42
  coming
• 1:42
  across
• 1:42
  as
• 1:42
  they
• 1:43
  start
• 1:43
  to
• 1:43
  embark
• 1:44
  on
• 1:44
  this
• 1:44
  endeavor?
• 1:45
  So
• 1:45
  the
• 1:45
  first
• 1:45
  is
• 1:46
  they
• 1:46
  tend
• 1:46
  to
• 1:46
  underestimate
• 1:47
  the
• 1:47
  complexity
• 1:48
  associated
• 1:49
  with
• 1:49
  making.
• 1:51
  Now,
• 1:51
  I've
• 1:51
  seen
• 1:51
  that
• 1:51
  most
• 1:52
  retailers
• 1:52
  have
• 1:52
  a
• 1:53
  pretty
• 1:53
  well
• 1:53
  defined
• 1:53
  assortment
• 1:54
  process
• 1:55
  and
• 1:55
  they
• 1:55
  tend
• 1:55
  to
• 1:56
  think
• 1:56
  I'm
• 1:56
  making
• 1:56
  space
• 1:56
  changes.
• 1:57
  This
• 1:57
  is
• 1:57
  just
• 1:57
  an
• 1:58
  extension
• 1:58
  of
• 1:59
  my
• 1:59
  assortment
• 2:00
  process.
• 2:00
  But
• 2:01
  it's
• 2:01
  much,
• 2:01
  much
• 2:01
  bigger
• 2:02
  than
• 2:02
  that.
• 2:02
  You're
• 2:03
  impacting
• 2:03
  a
• 2:03
  lot
• 2:03
  more
• 2:04
  categories
• 2:04
  at
• 2:04
  the
• 2:04
  same
• 2:05
  time.
• 2:06
  Often
• 2:06
  the
• 2:06
  categories
• 2:07
  don't
• 2:07
  sit
• 2:07
  directly
• 2:08
  adjacent
• 2:08
  to
• 2:08
  each
• 2:08
  other
• 2:09
  where
• 2:09
  you're
• 2:09
  growing
• 2:09
  space
• 2:10
  and
• 2:10
  where
• 2:10
  you're
• 2:10
  reducing
• 2:11
  space.
• 2:11
  So
• 2:11
  there's
• 2:12
  kind
• 2:12
  of
• 2:12
  a
• 2:12
  cascading
• 2:13
  implications
• 2:14
  across
• 2:14
  the
• 2:15
  categories
• 2:15
  in
• 2:15
  between.
• 2:17
  And
• 2:17
  you're
• 2:17
  also
• 2:18
  enhancing
• 2:18
  the
• 2:18
  customer
• 2:19
  experience
• 2:19
  when
• 2:19
  you're
• 2:19
  making
• 2:19
  these
• 2:20
  space
• 2:20
  changes.
• 2:21
  And
• 2:21
  so
• 2:21
  it's
• 2:21
  a
• 2:21
  lot
• 2:21
  more
• 2:22
  than
• 2:22
  just
• 2:22
  product
• 2:22
  changes.
• 2:24
  The
• 2:24
  second
• 2:24
  thing
• 2:24
  I
• 2:24
  would
• 2:25
  highlight
• 2:25
  from
• 2:25
  what
• 2:26
  retailers
• 2:26
  often
• 2:26
  miss
• 2:27
  is
• 2:27
  kind
• 2:27
  of
• 2:28
  a
• 2:28
  level
• 2:28
  of
• 2:29
  executive
• 2:29
  support
• 2:29
  and
• 2:30
  sponsorship.
• 2:31
  Right.
• 2:31
  This
• 2:31
  isn't
• 2:31
  just
• 2:32
  a
• 2:32
  merchandising
• 2:33
  driven
• 2:33
  initiative.
• 2:34
  Right.
• 2:34
  But
• 2:34
  you
• 2:35
  need
• 2:35
  support
• 2:36
  from
• 2:36
  the
• 2:36
  CEO
• 2:37
  on
• 2:37
  down.
• 2:37
  You
• 2:37
  need
• 2:38
  a,
• 2:38
  you
• 2:38
  know,
• 2:39
  it's
• 2:39
  not
• 2:39
  just
• 2:39
  cross
• 2:39
  functional
• 2:40
  teams
• 2:40
  that
• 2:40
  are
• 2:40
  going
• 2:41
  to
• 2:41
  stand
• 2:41
  up
• 2:41
  and
• 2:41
  drive
• 2:42
  this,
• 2:42
  but
• 2:42
  you
• 2:42
  need
• 2:42
  to
• 2:42
  be
• 2:42
  thoughtful
• 2:43
  about
• 2:43
  standing
• 2:43
  up.
• 2:44
  Kind
• 2:44
  of
• 2:44
  a
• 2:45
  center
• 2:45
  of
• 2:45
  excellence
• 2:46
  with
• 2:46
  a
• 2:46
  cross
• 2:47
  functional
• 2:47
  team
• 2:47
  that
• 2:47
  is
• 2:48
  empowered
• 2:48
  to,
• 2:48
  to
• 2:49
  make
• 2:49
  decisions
• 2:50
  and
• 2:50
  drive
• 2:50
  the
• 2:51
  process
• 2:51
  from
• 2:51
  end
• 2:51
  to
• 2:51
  end.
• 2:52
  Someone
• 2:52
  that
• 2:52
  led
• 2:53
  this
• 2:53
  effort
• 2:53
  to
• 2:54
  redesign
• 2:54
  Target
• 2:55
  store
• 2:55
  and
• 2:55
  its
• 2:55
  layout
• 2:56
  five
• 2:56
  to
• 2:56
  ten
• 2:56
  years
• 2:57
  into
• 2:57
  the
• 2:57
  future,
• 2:57
  I
• 2:57
  can
• 2:58
  attest
• 2:58
  to
• 2:58
  that.
• 2:58
  So
• 2:58
  what
• 2:59
  best
• 2:59
  practices
• 2:59
  do
• 3:00
  you
• 3:00
  recommend,
• 3:00
  Brandon?
• 3:01
  What
• 3:01
  do
• 3:01
  retailers
• 3:02
  have
• 3:02
  to
• 3:02
  get
• 3:02
  right
• 3:02
  if
• 3:02
  they're
• 3:03
  going
• 3:03
  to
• 3:03
  try
• 3:03
  to
• 3:03
  do
• 3:03
  something
• 3:04
  like
• 3:04
  this?
• 3:04
  Because
• 3:05
  space
• 3:05
  changes
• 3:06
  are
• 3:06
  so
• 3:06
  complicated.
• 3:07
  You
• 3:07
  know,
• 3:08
  this
• 3:08
  is
• 3:08
  a
• 3:08
  space
• 3:08
  that,
• 3:09
  that's
• 3:09
  worth
• 3:09
  starting
• 3:10
  small
• 3:10
  and
• 3:10
  then
• 3:11
  expanding,
• 3:11
  right?
• 3:11
  You
• 3:12
  want
• 3:12
  to
• 3:12
  take
• 3:12
  a
• 3:12
  couple
• 3:12
  of
• 3:12
  pilot
• 3:13
  stores
• 3:13
  and
• 3:14
  you
• 3:14
  want
• 3:14
  to
• 3:14
  test
• 3:14
  your
• 3:15
  concepts,
• 3:15
  you
• 3:15
  want
• 3:15
  to
• 3:15
  hone
• 3:16
  those
• 3:16
  concepts,
• 3:16
  you
• 3:17
  want
• 3:17
  to
• 3:17
  get
• 3:17
  customer
• 3:17
  feedback,
• 3:18
  feedback
• 3:19
  from
• 3:19
  store
• 3:19
  associates
• 3:20
  and
• 3:21
  refine
• 3:21
  the
• 3:21
  ideas,
• 3:22
  you
• 3:23
  want
• 3:23
  to
• 3:23
  measure
• 3:23
  the
• 3:23
  results
• 3:24
  and
• 3:24
  then
• 3:24
  at
• 3:24
  the
• 3:25
  same
• 3:25
  time
• 3:25
  you
• 3:25
  want
• 3:25
  to
• 3:25
  build
• 3:26
  your
• 3:26
  playbooks.
• 3:26
  You
• 3:26
  know,
• 3:27
  how
• 3:27
  are
• 3:27
  you
• 3:27
  going
• 3:27
  to
• 3:27
  scale
• 3:27
  this?
• 3:28
  You
• 3:28
  know,
• 3:28
  what
• 3:28
  are,
• 3:29
  what's
• 3:29
  the
• 3:29
  training
• 3:29
  program
• 3:30
  going
• 3:30
  to
• 3:30
  look
• 3:31
  like?
• 3:31
  How
• 3:31
  do
• 3:31
  you
• 3:31
  go
• 3:31
  and
• 3:32
  teach
• 3:33
  the
• 3:33
  rest
• 3:33
  of
• 3:33
  the
• 3:34
  fleet
• 3:34
  how
• 3:34
  to
• 3:34
  do
• 3:34
  this
• 3:34
  appropriately?
• 3:36
  The
• 3:36
  second
• 3:37
  best
• 3:37
  practice
• 3:37
  that
• 3:37
  we'd
• 3:38
  recommend
• 3:38
  is
• 3:38
  thinking
• 3:39
  about
• 3:39
  future
• 3:39
  purposes.
• 3:40
  So
• 3:40
  going
• 3:40
  back
• 3:41
  to
• 3:41
  Chris's
• 3:42
  example,
• 3:42
  right,
• 3:42
  let's
• 3:43
  say
• 3:43
  you're
• 3:43
  a
• 3:43
  grocer,
• 3:44
  your
• 3:45
  fresh
• 3:45
  business
• 3:45
  has
• 3:46
  grown,
• 3:46
  you
• 3:46
  know,
• 3:46
  10
• 3:46
  to
• 3:46
  15%
• 3:47
  over
• 3:47
  the
• 3:47
  past
• 3:47
  couple
• 3:48
  of
• 3:48
  years.
• 3:48
  But
• 3:49
  if
• 3:49
  you
• 3:49
  expect
• 3:49
  that
• 3:50
  business
• 3:50
  growth
• 3:50
  to
• 3:50
  continue,
• 3:51
  right,
• 3:51
  you
• 3:52
  may
• 3:52
  actually
• 3:52
  want
• 3:52
  to
• 3:53
  lean
• 3:53
  in
• 3:53
  more
• 3:54
  and
• 3:54
  make
• 3:55
  broader,
• 3:55
  more
• 3:55
  sweeping
• 3:56
  space
• 3:56
  change.
• 3:56
  Maybe
• 3:57
  you
• 3:57
  want
• 3:57
  to
• 3:57
  change
• 3:57
  your
• 3:57
  space
• 3:58
  infresion
• 3:59
  20,
• 3:59
  25%.
• 4:00
  And
• 4:01
  so
• 4:01
  you
• 4:01
  need
• 4:01
  to
• 4:01
  be
• 4:01
  really
• 4:01
  thoughtful
• 4:02
  around
• 4:03
  what
• 4:03
  are
• 4:03
  these
• 4:04
  trends?
• 4:04
  Which
• 4:05
  ones
• 4:05
  are
• 4:05
  you
• 4:05
  going
• 4:05
  to
• 4:05
  take
• 4:05
  a
• 4:06
  bet
• 4:06
  on
• 4:06
  and
• 4:07
  how
• 4:07
  are
• 4:07
  you
• 4:07
  going
• 4:07
  to
• 4:07
  enhance
• 4:08
  that
• 4:08
  customer
• 4:08
  value
• 4:08
  proposition?
• 4:09
  At
• 4:09
  the
• 4:09
  end
• 4:09
  of
• 4:10
  the
• 4:10
  day,
• 4:10
  what.
• 4:10
  Are
• 4:11
  you
• 4:11
  and
• 4:11
  the
• 4:11
  team
• 4:11
  at
• 4:11
  A
• 4:12
  and
• 4:12
  M
• 4:12
  advising
• 4:12
  that
• 4:13
  retailers
• 4:13
  start
• 4:14
  doing
• 4:14
  today
• 4:15
  to
• 4:15
  really
• 4:16
  get
• 4:16
  started
• 4:17
  moving
• 4:17
  on
• 4:17
  this
• 4:17
  and
• 4:18
  thinking
• 4:18
  about
• 4:18
  the
• 4:18
  future
• 4:19
  and
• 4:19
  what,
• 4:19
  what
• 4:20
  space
• 4:20
  planning
• 4:21
  should
• 4:21
  look
• 4:21
  like
• 4:21
  for
• 4:21
  their
• 4:21
  organization.
• 4:22
  One
• 4:23
  of
• 4:23
  the
• 4:23
  primary
• 4:23
  things
• 4:23
  is
• 4:24
  really,
• 4:24
  I
• 4:24
  mean,
• 4:24
  Brandon,
• 4:25
  hit
• 4:25
  on
• 4:25
  it
• 4:25
  is
• 4:26
  it's
• 4:26
  talking
• 4:26
  about
• 4:27
  what's
• 4:27
  the
• 4:27
  organization
• 4:28
  going
• 4:28
  to
• 4:28
  be
• 4:28
  that's
• 4:29
  going
• 4:29
  to
• 4:29
  drive
• 4:29
  these
• 4:29
  efforts
• 4:30
  and
• 4:30
  putting
• 4:30
  that
• 4:31
  in
• 4:31
  place
• 4:31
  so
• 4:31
  that
• 4:31
  you're
• 4:32
  able
• 4:32
  to
• 4:32
  take
• 4:33
  a
• 4:34
  non
• 4:34
  biased,
• 4:36
  a
• 4:37
  non
• 4:37
  biased
• 4:37
  perspective
• 4:38
  and
• 4:38
  kind
• 4:38
  of
• 4:38
  navigate
• 4:39
  the
• 4:39
  silos
• 4:40
  of
• 4:40
  the,
• 4:40
  a
• 4:40
  typical
• 4:41
  merchandising
• 4:41
  organization
• 4:42
  and
• 4:43
  really
• 4:43
  evaluate
• 4:44
  the
• 4:44
  trade
• 4:44
  offs
• 4:45
  in
• 4:45
  space.
• 4:45
  So
• 4:45
  I
• 4:45
  think
• 4:45
  that's
• 4:46
  the
• 4:46
  first
• 4:46
  step
• 4:46
  is
• 4:47
  putting
• 4:47
  that
• 4:47
  right
• 4:47
  organization
• 4:48
  in
• 4:48
  place
• 4:48
  and
• 4:49
  empowering
• 4:49
  them.
• 4:50
  I
• 4:50
  think,
• 4:51
  you
• 4:51
  know,
• 4:51
  from
• 4:51
  a
• 4:52
  more
• 4:52
  foundational
• 4:52
  element,
• 4:53
  if
• 4:53
  you
• 4:53
  were
• 4:54
  sitting
• 4:54
  in
• 4:54
  a
• 4:54
  place
• 4:55
  where
• 4:55
  you
• 4:55
  say,
• 4:55
  hey,
• 4:55
  we
• 4:56
  have
• 4:56
  a
• 4:56
  very
• 4:56
  basic
• 4:57
  space
• 4:57
  plan
• 4:57
  and
• 4:57
  capability.
• 4:58
  You
• 4:59
  know,
• 4:59
  the
• 4:59
  first
• 4:59
  thing
• 4:59
  I'd
• 5:00
  start
• 5:00
  to
• 5:00
  do
• 5:00
  is
• 5:00
  build
• 5:01
  a
• 5:01
  chart
• 5:02
  that
• 5:02
  shows
• 5:03
  how
• 5:03
  much
• 5:04
  of
• 5:04
  our
• 5:04
  shelf
• 5:05
  space
• 5:05
  across
• 5:05
  our
• 5:06
  fleet
• 5:06
  do
• 5:06
  we
• 5:06
  give
• 5:06
  to
• 5:07
  different
• 5:07
  categories
• 5:08
  versus
• 5:08
  how
• 5:08
  much
• 5:08
  margin
• 5:09
  they
• 5:09
  drive
• 5:09
  in
• 5:09
  our
• 5:10
  business.
• 5:10
  And
• 5:11
  I
• 5:11
  think
• 5:11
  while
• 5:12
  it's
• 5:12
  not
• 5:12
  a
• 5:13
  completely
• 5:13
  linear
• 5:14
  chart
• 5:14
  where
• 5:15
  anything
• 5:15
  below
• 5:16
  the
• 5:16
  line
• 5:16
  is
• 5:16
  bad,
• 5:17
  anything
• 5:17
  above
• 5:17
  the
• 5:18
  line
• 5:18
  is
• 5:18
  good,
• 5:18
  et
• 5:18
  cetera,
• 5:19
  I
• 5:20
  think
• 5:20
  it'll
• 5:20
  start
• 5:20
  to
• 5:21
  help
• 5:21
  you
• 5:21
  think
• 5:21
  about
• 5:21
  where
• 5:22
  are
• 5:22
  the
• 5:22
  outliers
• 5:23
  in
• 5:23
  our
• 5:23
  business.
• 5:24
  And
• 5:24
  you
• 5:24
  really
• 5:24
  have
• 5:24
  to
• 5:25
  look
• 5:25
  at
• 5:25
  it
• 5:25
  through
• 5:25
  the
• 5:25
  lens
• 5:26
  of,
• 5:26
  you
• 5:26
  know,
• 5:26
  what
• 5:26
  is
• 5:27
  our.
• 5:27
  What,
• 5:28
  what
• 5:28
  category?
• 5:29
  What
• 5:29
  are
• 5:29
  our
• 5:29
  category
• 5:30
  roles?
• 5:30
  What,
• 5:31
  what
• 5:31
  missions
• 5:31
  are
• 5:32
  we
• 5:32
  targeting
• 5:32
  with
• 5:32
  our
• 5:32
  customers?
• 5:33
  And,
• 5:33
  and
• 5:34
  that
• 5:34
  needs
• 5:34
  to
• 5:34
  guide
• 5:35
  some
• 5:35
  of
• 5:35
  those
• 5:35
  conversations.
• 5:36
  But
• 5:36
  really,
• 5:36
  for
• 5:37
  me,
• 5:37
  that's
• 5:37
  the
• 5:37
  most
• 5:38
  foundational
• 5:38
  starting
• 5:39
  point
• 5:39
  to
• 5:39
  say
• 5:40
  what
• 5:40
  are
• 5:40
  the
• 5:40
  things
• 5:40
  that
• 5:41
  really
• 5:41
  jump
• 5:41
  out
• 5:42
  in
• 5:42
  our
• 5:42
  business
• 5:42
  that
• 5:43
  that
• 5:43
  likely
• 5:43
  don't
• 5:43
  make
• 5:44
  sense
• 5:44
  and
• 5:44
  need
• 5:44
  to
• 5:44
  be
• 5:45
  iterated
• 5:45
  in.
• 5:45
  The
• 5:45
  next
• 5:46
  concept,
• 5:47
  both
• 5:47
  in
• 5:47
  the
• 5:47
  current
• 5:48
  state
• 5:48
  and
• 5:48
  then
• 5:48
  projecting
• 5:49
  out
• 5:49
  5
• 5:49
  to
• 5:50
  10
• 5:50
  years
• 5:50
  too.
• 5:50
  Right,
• 5:50
  Chris?
• 5:51
  Yeah,
• 5:51
  I
• 5:52
  think
• 5:52
  it's
• 5:52
  a
• 5:52
  great
• 5:52
  point,
• 5:52
  Chris.
• 5:53
  You
• 5:53
  know,
• 5:53
  it's,
• 5:54
  it's
• 5:54
  an
• 5:54
  opportunity
• 5:55
  to,
• 5:55
  to
• 5:55
  take
• 5:56
  a
• 5:56
  merchandising
• 5:57
  stand
• 5:57
  and
• 5:57
  develop
• 5:58
  a
• 5:58
  point
• 5:58
  of
• 5:59
  where
• 5:59
  you
• 5:59
  want
• 6:00
  to
• 6:00
  go
• 6:00
  over
• 6:01
  the
• 6:01
  next
• 6:01
  five
• 6:01
  to
• 6:01
  10
• 6:02
  years.
• 6:02
  And
• 6:02
  you
• 6:03
  know,
• 6:03
  Brandon
• 6:03
  talked
• 6:04
  about
• 6:04
  it.
• 6:04
  It's
• 6:04
  not
• 6:04
  an
• 6:05
  effort
• 6:05
  that
• 6:05
  you
• 6:05
  do
• 6:06
  every
• 6:06
  single
• 6:06
  year.
• 6:07
  You're
• 6:07
  not
• 6:08
  constantly
• 6:08
  moving
• 6:09
  space.
• 6:09
  I
• 6:10
  think
• 6:10
  about
• 6:10
  it
• 6:10
  more
• 6:10
  of
• 6:11
  a
• 6:11
  two
• 6:11
  to
• 6:11
  four
• 6:12
  year
• 6:12
  cadence
• 6:12
  of
• 6:13
  where
• 6:13
  you're,
• 6:13
  you're
• 6:14
  making
• 6:14
  macro
• 6:15
  space
• 6:15
  adjustments,
• 6:16
  significant
• 6:16
  macro
• 6:17
  space
• 6:17
  adjustments
• 6:18
  in
• 6:18
  your
• 6:18
  store.
• 6:18
  So,
• 6:19
  you
• 6:19
  know,
• 6:19
  Chris,
• 6:19
  it's,
• 6:19
  it's
• 6:20
  a
• 6:20
  great
• 6:20
  chance
• 6:21
  for
• 6:21
  your
• 6:21
  merchants
• 6:21
  to
• 6:22
  help
• 6:23
  drive
• 6:24
  your
• 6:24
  merchandising
• 6:24
  strategy
• 6:25
  on
• 6:25
  how
• 6:25
  you're
• 6:26
  going
• 6:26
  to
• 6:26
  differentiate
• 6:27
  yourself
• 6:27
  and
• 6:27
  where
• 6:28
  you
• 6:28
  think
• 6:28
  the
• 6:28
  market's
• 6:29
  going
• 6:29
  over
• 6:29
  the
• 6:29
  next
• 6:29
  couple
• 6:30
  years.
• 6:31
  Excellent.
• 6:32
  Wow,
• 6:32
  great
• 6:32
  stuff,
• 6:33
  you
• 6:33
  guys.
• 6:33
  Thank
• 6:33
  you
• 6:33
  both.
• 6:35
  And
• 6:35
  if
• 6:35
  you're
• 6:35
  interested
• 6:36
  in
• 6:36
  reading
• 6:36
  A&M
• 6:37
  CRG's
• 6:37
  report
• 6:38
  on
• 6:38
  the
• 6:38
  power
• 6:38
  of
• 6:39
  space
• 6:39
  planning,
• 6:39
  you
• 6:40
  can
• 6:40
  find
• 6:40
  a
• 6:40
  link
• 6:40
  to
• 6:41
  the
• 6:41
  report
• 6:41
  in
• 6:42
  our
• 6:42
  show
• 6:42
  notes.