Latest / Omni Talk Retail / DFI CEO Scott Price on Retail’s AI Future, Growth Obstacles & Training the Next Merchants | WRC 2025

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DFI CEO Scott Price on Retail’s AI Future, Growth Obstacles & Training the Next Merchants | WRC 2025 · Omni Talk Retail

• 0:00
  Hello
• 0:00
  everyone,
• 0:01
  this
• 0:01
  is
• 0:01
  Omnitalk
• 0:02
  Retail.
• 0:03
  I'm
• 0:03
  Chris
• 0:03
  Walton.
• 0:04
  And
• 0:04
  I'm
• 0:04
  Anne
• 0:04
  Mazinga.
• 0:05
  And
• 0:05
  we
• 0:05
  are
• 0:05
  coming
• 0:05
  to
• 0:05
  you
• 0:06
  live
• 0:06
  from
• 0:06
  the
• 0:06
  World
• 0:07
  Retail
• 0:07
  Congress,
• 0:08
  the
• 0:08
  Fusion
• 0:08
  Group's
• 0:09
  booth
• 0:09
  in
• 0:10
  the
• 0:10
  Grand
• 0:10
  Foyer
• 0:11
  ballroom
• 0:11
  just
• 0:11
  outside
• 0:11
  the
• 0:12
  main
• 0:12
  keynote
• 0:12
  stage.
• 0:13
  And
• 0:13
  standing
• 0:14
  between
• 0:14
  us
• 0:14
  is
• 0:14
  a
• 0:14
  man
• 0:14
  who
• 0:15
  we
• 0:15
  had
• 0:15
  on
• 0:15
  last
• 0:16
  year
• 0:16
  at
• 0:16
  wrc,
• 0:17
  Scott
• 0:18
  Price,
• 0:18
  the
• 0:19
  CEO,
• 0:19
  I
• 0:20
  should
• 0:20
  say,
• 0:20
  of
• 0:20
  DFI
• 0:21
  Group.
• 0:22
  Scott,
• 0:22
  welcome
• 0:22
  back
• 0:23
  to
• 0:23
  omnitalk.
• 0:24
  Scott,
• 0:25
  you
• 0:25
  did
• 0:25
  an
• 0:26
  excellent
• 0:26
  job
• 0:26
  today
• 0:27
  on
• 0:27
  stage.
• 0:27
  I
• 0:27
  just
• 0:28
  have
• 0:28
  to
• 0:28
  say
• 0:28
  there's
• 0:29
  a
• 0:29
  lot
• 0:29
  of
• 0:29
  things
• 0:29
  that
• 0:29
  Chris
• 0:30
  and
• 0:30
  I
• 0:30
  both
• 0:30
  took
• 0:30
  away
• 0:31
  from
• 0:31
  your
• 0:31
  session.
• 0:32
  But
• 0:32
  before
• 0:32
  we
• 0:32
  get
• 0:33
  into
• 0:33
  those
• 0:33
  details,
• 0:34
  if
• 0:35
  you
• 0:35
  don't
• 0:35
  mind
• 0:35
  just
• 0:36
  giving
• 0:36
  people
• 0:36
  a
• 0:36
  little
• 0:36
  bit
• 0:37
  of
• 0:37
  background
• 0:37
  again
• 0:38
  on
• 0:38
  what
• 0:38
  DFI
• 0:39
  Retail
• 0:39
  Group
• 0:40
  is
• 0:41
  and
• 0:41
  then
• 0:41
  your
• 0:41
  role
• 0:42
  there
• 0:42
  and
• 0:42
  all
• 0:42
  you
• 0:43
  oversee.
• 0:43
  So
• 0:43
  we're
• 0:44
  a
• 0:44
  Hong
• 0:45
  Kong
• 0:45
  based
• 0:45
  multi
• 0:46
  format
• 0:46
  retailer.
• 0:48
  11,000
• 0:49
  stores,
• 0:50
  roughly
• 0:50
  13
• 0:51
  countries,
• 0:52
  five
• 0:52
  formats
• 0:53
  of
• 0:53
  food,
• 0:54
  convenience
• 0:54
  stores,
• 0:55
  health
• 0:55
  and
• 0:55
  beauty,
• 0:56
  home
• 0:56
  furnishings
• 0:57
  and
• 0:57
  restaurants.
• 0:58
  About
• 0:59
  200,000
• 0:59
  team
• 1:00
  members
• 1:01
  and
• 1:02
  quite
• 1:02
  an
• 1:02
  exciting
• 1:03
  portfolio
• 1:04
  for
• 1:04
  a
• 1:04
  business.
• 1:05
  And
• 1:05
  what
• 1:05
  all
• 1:05
  do
• 1:05
  you
• 1:05
  oversee
• 1:06
  in
• 1:06
  your
• 1:06
  role
• 1:06
  there?
• 1:07
  So
• 1:07
  as
• 1:07
  chief
• 1:08
  executive,
• 1:09
  it's
• 1:09
  publicly
• 1:10
  listed,
• 1:10
  so
• 1:11
  we,
• 1:11
  I
• 1:12
  think
• 1:12
  as
• 1:12
  a
• 1:12
  traditional
• 1:13
  CEO,
• 1:13
  I'm
• 1:13
  responsible
• 1:14
  for
• 1:15
  strategy,
• 1:15
  resource
• 1:16
  allocation,
• 1:17
  managing
• 1:17
  stakeholders,
• 1:18
  risk
• 1:18
  mitigation
• 1:19
  and
• 1:20
  of
• 1:20
  course
• 1:20
  the
• 1:20
  all
• 1:20
  important
• 1:21
  talent
• 1:21
  development,
• 1:22
  which
• 1:22
  is
• 1:22
  pretty
• 1:22
  important
• 1:23
  most
• 1:23
  days.
• 1:24
  That
• 1:24
  starts
• 1:25
  with
• 1:25
  you,
• 1:25
  doesn't
• 1:25
  it
• 1:25
  Scott?
• 1:26
  I
• 1:26
  think
• 1:26
  that
• 1:26
  starts
• 1:27
  with.
• 1:27
  That's
• 1:27
  the
• 1:27
  praise,
• 1:28
  right?
• 1:28
  All
• 1:28
  right.
• 1:28
  So
• 1:29
  when
• 1:29
  we
• 1:29
  talked
• 1:29
  to
• 1:29
  you
• 1:29
  last
• 1:29
  year,
• 1:30
  I
• 1:30
  think
• 1:30
  you
• 1:30
  were
• 1:30
  just
• 1:30
  about
• 1:31
  in
• 1:31
  year
• 1:31
  one
• 1:31
  of
• 1:31
  the
• 1:31
  job,
• 1:32
  just
• 1:32
  finishing
• 1:32
  up
• 1:32
  year
• 1:32
  one.
• 1:33
  You've
• 1:33
  now
• 1:33
  been
• 1:33
  in
• 1:33
  year
• 1:34
  two.
• 1:34
  I'm
• 1:35
  curious,
• 1:35
  as
• 1:35
  you
• 1:35
  look
• 1:35
  back,
• 1:36
  how
• 1:36
  is
• 1:36
  year
• 1:36
  one
• 1:36
  different
• 1:37
  than
• 1:37
  year
• 1:37
  two?
• 1:38
  What
• 1:38
  did
• 1:38
  you
• 1:38
  wish
• 1:38
  you
• 1:38
  knew
• 1:39
  that
• 1:39
  now
• 1:40
  you
• 1:40
  know,
• 1:40
  I
• 1:40
  mean,
• 1:41
  I'm
• 1:41
  going
• 1:41
  to
• 1:41
  give
• 1:41
  a
• 1:41
  shout
• 1:41
  out
• 1:42
  to
• 1:42
  the
• 1:42
  DS
• 1:42
  my
• 1:42
  team.
• 1:43
  About
• 1:44
  12
• 1:44
  months
• 1:44
  ago
• 1:45
  we
• 1:45
  were
• 1:45
  really
• 1:46
  clear
• 1:46
  we
• 1:46
  needed
• 1:46
  to
• 1:47
  move
• 1:47
  from
• 1:47
  a
• 1:48
  holding
• 1:48
  company
• 1:49
  structure
• 1:49
  with
• 1:50
  all
• 1:50
  of
• 1:50
  these
• 1:50
  banners
• 1:50
  and
• 1:51
  a
• 1:51
  lot
• 1:51
  of
• 1:51
  minority
• 1:52
  which
• 1:52
  we
• 1:53
  sold
• 1:53
  out
• 1:54
  into
• 1:54
  an
• 1:54
  operating
• 1:55
  company
• 1:55
  focused
• 1:56
  on
• 1:56
  those
• 1:56
  four.
• 1:56
  So
• 1:57
  in
• 1:57
  the
• 1:57
  last
• 1:57
  12
• 1:57
  months
• 1:58
  after
• 1:59
  the
• 1:59
  sale,
• 1:59
  we
• 1:59
  paid
• 2:00
  down
• 2:00
  all
• 2:00
  our
• 2:00
  debt,
• 2:01
  our
• 2:01
  profits
• 2:01
  have
• 2:02
  increased
• 2:02
  30%,
• 2:03
  our
• 2:04
  stock
• 2:04
  price
• 2:04
  is
• 2:04
  up
• 2:05
  as
• 2:05
  of
• 2:05
  today,
• 2:06
  46%
• 2:07
  in
• 2:07
  the
• 2:07
  last
• 2:07
  12
• 2:07
  months.
• 2:08
  So
• 2:09
  that
• 2:09
  team
• 2:09
  is
• 2:09
  really
• 2:10
  delivering.
• 2:10
  Wow.
• 2:10
  Lots
• 2:11
  of
• 2:11
  time.
• 2:12
  Well,
• 2:12
  Scott,
• 2:12
  I'm
• 2:13
  going
• 2:13
  to
• 2:13
  get
• 2:13
  back
• 2:13
  to
• 2:13
  the
• 2:13
  panel
• 2:14
  because
• 2:14
  you
• 2:15
  spoke
• 2:15
  on
• 2:15
  the
• 2:15
  panel
• 2:15
  this
• 2:16
  morning.
• 2:16
  One
• 2:16
  of
• 2:17
  the
• 2:17
  things
• 2:17
  that
• 2:17
  we
• 2:17
  loved
• 2:18
  that
• 2:18
  you
• 2:18
  said
• 2:20
  was
• 2:20
  where
• 2:20
  retail
• 2:21
  growth
• 2:21
  will
• 2:21
  come
• 2:22
  from.
• 2:22
  Will
• 2:22
  you
• 2:22
  share
• 2:23
  with
• 2:23
  our
• 2:23
  audience
• 2:23
  what
• 2:24
  your
• 2:24
  answer
• 2:24
  was
• 2:25
  to
• 2:25
  that
• 2:25
  question?
• 2:26
  So
• 2:26
  you
• 2:26
  know,
• 2:26
  the
• 2:26
  retail
• 2:27
  growth
• 2:27
  used
• 2:28
  to
• 2:28
  be
• 2:28
  all
• 2:28
  about
• 2:29
  the
• 2:29
  what,
• 2:29
  you
• 2:30
  know,
• 2:30
  the
• 2:30
  what
• 2:30
  being
• 2:30
  assortment,
• 2:31
  price,
• 2:32
  value,
• 2:32
  innovation
• 2:34
  and
• 2:34
  now
• 2:34
  what's
• 2:35
  happening
• 2:35
  is
• 2:35
  growth
• 2:36
  is
• 2:36
  coming
• 2:36
  from
• 2:36
  also
• 2:36
  the
• 2:37
  how.
• 2:38
  So
• 2:38
  the
• 2:38
  how
• 2:38
  very
• 2:39
  much
• 2:39
  to
• 2:39
  me
• 2:39
  driven
• 2:40
  by
• 2:40
  technology.
• 2:41
  Data
• 2:41
  has
• 2:42
  been
• 2:42
  an
• 2:42
  asset
• 2:42
  for
• 2:42
  retailers
• 2:43
  for
• 2:43
  decades.
• 2:44
  It's
• 2:45
  only
• 2:45
  really
• 2:45
  in
• 2:45
  the
• 2:46
  last
• 2:46
  10
• 2:46
  years
• 2:46
  they
• 2:47
  started
• 2:47
  to
• 2:47
  figure
• 2:47
  out
• 2:47
  how
• 2:48
  to
• 2:48
  monetize
• 2:48
  it.
• 2:49
  Now
• 2:49
  AI
• 2:50
  is
• 2:50
  accelerating
• 2:50
  it.
• 2:51
  So
• 2:51
  in
• 2:51
  addition
• 2:51
  to
• 2:52
  creating
• 2:53
  personalization
• 2:54
  with
• 2:54
  the
• 2:54
  customer,
• 2:55
  you're
• 2:55
  also
• 2:56
  creating
• 2:57
  value
• 2:57
  for
• 2:57
  the
• 2:58
  vendor
• 2:58
  because
• 2:58
  you
• 2:59
  can
• 2:59
  give
• 2:59
  them
• 2:59
  more
• 2:59
  effective
• 3:00
  media
• 3:01
  access,
• 3:01
  you
• 3:01
  can
• 3:01
  monetize
• 3:02
  the
• 3:02
  data
• 3:02
  by
• 3:03
  helping
• 3:03
  them
• 3:03
  more
• 3:03
  effective
• 3:04
  promotion.
• 3:05
  AI
• 3:05
  though
• 3:06
  is
• 3:06
  also
• 3:06
  changing
• 3:06
  the
• 3:06
  nature
• 3:07
  of
• 3:07
  work
• 3:07
  in
• 3:07
  retail
• 3:08
  because
• 3:08
  a
• 3:09
  lot
• 3:09
  of
• 3:09
  the
• 3:10
  sort
• 3:11
  of
• 3:11
  more
• 3:11
  manual
• 3:12
  or
• 3:12
  repetitive
• 3:13
  work
• 3:13
  is
• 3:13
  being
• 3:14
  replaced.
• 3:14
  And
• 3:15
  you
• 3:15
  know,
• 3:15
  one
• 3:15
  of
• 3:15
  the
• 3:15
  concerns
• 3:16
  I
• 3:16
  have
• 3:16
  is
• 3:17
  look,
• 3:17
  an
• 3:17
  assistant
• 3:18
  buyer
• 3:18
  job
• 3:18
  and
• 3:18
  a
• 3:19
  search
• 3:19
  admission,
• 3:19
  it's
• 3:20
  a
• 3:20
  great
• 3:20
  job
• 3:20
  to
• 3:20
  get
• 3:21
  into
• 3:21
  retail.
• 3:22
  You
• 3:22
  know,
• 3:22
  you
• 3:23
  a
• 3:23
  lot
• 3:23
  of
• 3:23
  pricing
• 3:24
  and
• 3:24
  promotion,
• 3:24
  etc.
• 3:25
  Basic
• 3:25
  work.
• 3:26
  AI
• 3:26
  is
• 3:26
  replacing
• 3:27
  that
• 3:27
  which
• 3:27
  means
• 3:28
  that
• 3:28
  you
• 3:29
  go
• 3:29
  from
• 3:29
  a
• 3:29
  22
• 3:30
  year
• 3:30
  old
• 3:30
  college
• 3:30
  grad
• 3:31
  to
• 3:31
  now
• 3:31
  a
• 3:31
  cheap
• 3:32
  merchant.
• 3:32
  I
• 3:32
  mean
• 3:32
  it's
• 3:33
  as
• 3:33
  those
• 3:33
  jobs
• 3:34
  get
• 3:34
  eliminated,
• 3:35
  we're
• 3:35
  going
• 3:35
  to
• 3:35
  have
• 3:35
  to
• 3:35
  think
• 3:35
  about
• 3:36
  how
• 3:36
  we
• 3:36
  develop
• 3:36
  this
• 3:37
  next
• 3:37
  generation
• 3:37
  of
• 3:37
  merchants.
• 3:38
  Yeah,
• 3:39
  that
• 3:39
  was
• 3:39
  a
• 3:39
  great
• 3:39
  point.
• 3:39
  I
• 3:40
  mean
• 3:40
  I'm
• 3:40
  sure
• 3:40
  you
• 3:40
  have
• 3:40
  some
• 3:40
  thoughts
• 3:41
  too,
• 3:41
  Chris,
• 3:41
  giving
• 3:41
  your
• 3:42
  background,
• 3:42
  former.
• 3:42
  Merchant,
• 3:43
  in
• 3:43
  the
• 3:43
  audience
• 3:43
  listening
• 3:43
  to
• 3:43
  you
• 3:43
  today,
• 3:44
  I
• 3:44
  was
• 3:44
  like
• 3:44
  struck
• 3:44
  by
• 3:44
  two
• 3:45
  things.
• 3:45
  One,
• 3:45
  that
• 3:45
  you
• 3:45
  are
• 3:46
  all
• 3:46
  in
• 3:46
  on
• 3:46
  AI.
• 3:47
  That
• 3:47
  was
• 3:47
  really
• 3:47
  interesting.
• 3:48
  Said
• 3:48
  it
• 3:48
  was
• 3:48
  going
• 3:49
  to
• 3:49
  be
• 3:49
  the
• 3:49
  separator
• 3:49
  between
• 3:49
  the
• 3:50
  haves
• 3:50
  and
• 3:50
  the
• 3:50
  haves
• 3:50
  nots.
• 3:51
  But
• 3:51
  you
• 3:51
  know,
• 3:51
  again,
• 3:52
  as
• 3:52
  a
• 3:52
  former
• 3:52
  merchant,
• 3:53
  I'm
• 3:53
  curious
• 3:53
  too,
• 3:54
  like
• 3:55
  how
• 3:55
  do
• 3:55
  you
• 3:55
  solve
• 3:56
  that
• 3:56
  problem?
• 3:56
  Like,
• 3:57
  because
• 3:57
  you
• 3:57
  know,
• 3:58
  AI
• 3:58
  is
• 3:58
  such
• 3:59
  a
• 3:59
  powerful
• 3:59
  tool
• 4:00
  that
• 4:00
  it's
• 4:00
  going
• 4:00
  to
• 4:00
  be
• 4:00
  hard
• 4:00
  to
• 4:01
  stay
• 4:01
  in
• 4:01
  front
• 4:01
  of
• 4:01
  that.
• 4:01
  How
• 4:02
  are
• 4:02
  you
• 4:02
  thinking
• 4:02
  about
• 4:02
  adapting
• 4:03
  to
• 4:03
  that
• 4:03
  challenge?
• 4:03
  So
• 4:04
  look,
• 4:04
  you'll
• 4:04
  know
• 4:05
  merchandising
• 4:06
  is
• 4:06
  art
• 4:06
  and
• 4:07
  science.
• 4:08
  I
• 4:08
  think
• 4:08
  that
• 4:08
  the
• 4:08
  science
• 4:09
  will
• 4:09
  absolutely
• 4:11
  be
• 4:11
  overtaken
• 4:12
  by
• 4:12
  AI.
• 4:12
  But
• 4:13
  I
• 4:13
  am
• 4:13
  confident
• 4:14
  that
• 4:14
  the
• 4:15
  art
• 4:15
  can
• 4:15
  never
• 4:15
  be
• 4:16
  replaced.
• 4:16
  And
• 4:16
  the
• 4:16
  reason
• 4:16
  I
• 4:17
  say
• 4:17
  that
• 4:17
  is
• 4:17
  that
• 4:18
  the
• 4:18
  role
• 4:18
  of
• 4:18
  innovation
• 4:19
  is
• 4:20
  very
• 4:20
  much
• 4:21
  driven
• 4:21
  by
• 4:22
  human
• 4:22
  decisions.
• 4:23
  And
• 4:23
  I
• 4:23
  had
• 4:23
  a
• 4:23
  bit
• 4:24
  of
• 4:24
  a
• 4:24
  debate
• 4:24
  with
• 4:24
  someone
• 4:24
  else
• 4:25
  in
• 4:25
  another,
• 4:25
  in
• 4:26
  another
• 4:26
  conversation
• 4:27
  who
• 4:27
  said,
• 4:27
  no,
• 4:27
  no,
• 4:27
  no,
• 4:28
  it
• 4:28
  can
• 4:28
  do
• 4:28
  the
• 4:28
  art
• 4:29
  because
• 4:29
  it
• 4:29
  can
• 4:29
  go
• 4:30
  to
• 4:30
  social
• 4:30
  media
• 4:30
  and
• 4:31
  pick
• 4:31
  up
• 4:31
  hints.
• 4:31
  And
• 4:31
  my
• 4:32
  point
• 4:32
  was
• 4:33
  that
• 4:33
  comes
• 4:34
  from
• 4:34
  them
• 4:34
  experiencing
• 4:35
  the
• 4:35
  product
• 4:35
  that
• 4:35
  came
• 4:36
  from
• 4:36
  availability.
• 4:36
  Who
• 4:37
  made
• 4:37
  the
• 4:37
  decision.
• 4:37
  It's
• 4:37
  a
• 4:38
  chicken
• 4:38
  and
• 4:38
  egg
• 4:38
  discussion.
• 4:39
  Humans
• 4:40
  have
• 4:40
  to
• 4:40
  make
• 4:40
  the
• 4:40
  decision.
• 4:41
  I
• 4:41
  think
• 4:41
  other
• 4:41
  humans
• 4:42
  will
• 4:42
  like
• 4:42
  this
• 4:42
  product,
• 4:43
  like
• 4:43
  this
• 4:43
  color
• 4:44
  and
• 4:44
  therefore
• 4:45
  there
• 4:45
  will
• 4:45
  always
• 4:45
  be
• 4:46
  that
• 4:46
  art
• 4:46
  in
• 4:47
  merchandising
• 4:48
  which
• 4:48
  will
• 4:48
  then
• 4:48
  drive
• 4:49
  the
• 4:49
  social
• 4:49
  media,
• 4:49
  which
• 4:50
  will
• 4:50
  then
• 4:50
  drive
• 4:50
  volume.
• 4:51
  I
• 4:51
  think
• 4:51
  there's
• 4:51
  a
• 4:51
  particular
• 4:51
  difference
• 4:52
  too
• 4:52
  between
• 4:53
  Online
• 4:53
  merchandising
• 4:54
  and
• 4:54
  in
• 4:54
  store
• 4:55
  merchandising
• 4:55
  as
• 4:56
  well.
• 4:56
  Where
• 4:56
  the.
• 4:57
  Yeah,
• 4:57
  it
• 4:57
  is,
• 4:57
  it
• 4:58
  is.
• 4:58
  But
• 4:58
  the
• 4:58
  E
• 4:58
  commerce
• 4:59
  side
• 4:59
  of
• 4:59
  it
• 4:59
  probably
• 5:00
  lends
• 5:00
  itself
• 5:00
  more
• 5:00
  to
• 5:01
  that
• 5:01
  gentleman.
• 5:02
  Or
• 5:02
  woman's
• 5:02
  perspective,
• 5:03
  because
• 5:03
  availability
• 5:04
  is
• 5:04
  the
• 5:04
  key.
• 5:05
  Not
• 5:05
  so
• 5:05
  much
• 5:05
  the
• 5:06
  curation
• 5:06
  that
• 5:06
  you
• 5:06
  have
• 5:07
  to
• 5:07
  do
• 5:07
  in
• 5:07
  a
• 5:07
  brick
• 5:07
  and.
• 5:07
  Mortar,
• 5:08
  the
• 5:08
  brand
• 5:08
  blocking,
• 5:08
  the
• 5:09
  color
• 5:09
  of
• 5:09
  everything,
• 5:10
  et
• 5:11
  cetera.
• 5:11
  All
• 5:11
  of
• 5:11
  those.
• 5:12
  Exactly,
• 5:12
  exactly.
• 5:13
  All
• 5:13
  right,
• 5:13
  so
• 5:13
  growth
• 5:13
  is
• 5:13
  one
• 5:14
  thing,
• 5:14
  right?
• 5:14
  So
• 5:14
  we
• 5:15
  talked
• 5:15
  about
• 5:15
  growth.
• 5:15
  You
• 5:15
  talked
• 5:16
  about
• 5:16
  retail
• 5:16
  media
• 5:16
  as
• 5:16
  well,
• 5:17
  being
• 5:17
  the
• 5:17
  growth
• 5:17
  engine
• 5:17
  that's
• 5:18
  going
• 5:18
  to
• 5:18
  help,
• 5:18
  you
• 5:18
  know,
• 5:18
  fuel
• 5:19
  the
• 5:19
  industry.
• 5:19
  I'm
• 5:20
  curious,
• 5:20
  what
• 5:20
  other
• 5:20
  obstacles
• 5:21
  besides
• 5:22
  training
• 5:22
  do
• 5:22
  you
• 5:22
  see
• 5:22
  on
• 5:23
  the
• 5:23
  portfolio?
• 5:23
  Because
• 5:23
  that's
• 5:23
  part
• 5:24
  of
• 5:24
  your
• 5:24
  job
• 5:24
  too,
• 5:24
  when
• 5:24
  it's
• 5:25
  moving
• 5:25
  obstacles.
• 5:25
  What
• 5:26
  other
• 5:26
  obstacles
• 5:26
  are
• 5:26
  you
• 5:26
  on
• 5:26
  the
• 5:27
  lookout
• 5:27
  for?
• 5:27
  This
• 5:27
  tr.
• 5:28
  You
• 5:28
  know,
• 5:28
  we're
• 5:28
  in
• 5:28
  a.
• 5:29
  We're
• 5:29
  living
• 5:29
  in
• 5:29
  a
• 5:29
  very
• 5:29
  uncertain
• 5:30
  time.
• 5:31
  And,
• 5:32
  you
• 5:32
  know,
• 5:33
  it's
• 5:33
  not
• 5:33
  just
• 5:33
  the
• 5:34
  terrorists.
• 5:34
  It's
• 5:35
  keep
• 5:35
  calm,
• 5:36
  carry
• 5:36
  on,
• 5:36
  this
• 5:37
  will
• 5:37
  be
• 5:37
  sorted
• 5:37
  out.
• 5:38
  I
• 5:38
  think
• 5:38
  the
• 5:39
  key
• 5:39
  is
• 5:39
  that
• 5:39
  consumer
• 5:40
  confidence
• 5:41
  has
• 5:42
  taken
• 5:42
  a
• 5:42
  real
• 5:42
  hit
• 5:42
  in
• 5:43
  the
• 5:43
  last
• 5:43
  couple
• 5:43
  of
• 5:43
  years.
• 5:44
  First,
• 5:45
  we
• 5:45
  had
• 5:45
  inflation
• 5:46
  globally,
• 5:46
  which
• 5:46
  caused
• 5:47
  a
• 5:47
  lot
• 5:47
  of
• 5:47
  challenges
• 5:48
  for
• 5:48
  people
• 5:48
  in
• 5:48
  terms
• 5:49
  of
• 5:49
  life.
• 5:50
  And
• 5:50
  so
• 5:50
  what
• 5:51
  I'm
• 5:51
  finding
• 5:51
  is
• 5:51
  that
• 5:52
  in
• 5:52
  general,
• 5:52
  we're
• 5:53
  all
• 5:53
  having
• 5:53
  to
• 5:53
  rethink
• 5:54
  our
• 5:54
  assortment
• 5:54
  to
• 5:55
  much
• 5:55
  more
• 5:55
  value
• 5:57
  price
• 5:57
  and
• 5:58
  then
• 5:58
  affordable
• 5:58
  innovation.
• 5:59
  And
• 5:59
  this
• 6:00
  is
• 6:00
  where
• 6:00
  it's
• 6:00
  a
• 6:00
  real
• 6:00
  challenge
• 6:01
  to
• 6:01
  be
• 6:01
  a
• 6:01
  retailer.
• 6:02
  People
• 6:03
  still
• 6:03
  want
• 6:03
  new
• 6:03
  experiences.
• 6:05
  You
• 6:05
  think
• 6:05
  about
• 6:05
  the
• 6:05
  aging
• 6:06
  of
• 6:06
  population,
• 6:07
  they're
• 6:07
  thinking
• 6:07
  about
• 6:08
  not
• 6:08
  just
• 6:08
  curative,
• 6:09
  they're
• 6:09
  thinking
• 6:09
  preventive.
• 6:10
  So
• 6:11
  how
• 6:11
  do
• 6:11
  you
• 6:11
  bring
• 6:11
  innovation
• 6:12
  that's
• 6:12
  affordable
• 6:13
  in
• 6:13
  those
• 6:13
  areas?
• 6:14
  So
• 6:14
  the
• 6:14
  real
• 6:15
  challenge
• 6:15
  to
• 6:15
  me
• 6:16
  is
• 6:16
  staying
• 6:16
  relevant
• 6:17
  in
• 6:17
  this
• 6:17
  time
• 6:17
  of
• 6:18
  economic
• 6:18
  challenge,
• 6:19
  which
• 6:19
  I
• 6:19
  think
• 6:20
  is
• 6:20
  going
• 6:20
  to
• 6:20
  last
• 6:20
  for
• 6:21
  the
• 6:21
  next
• 6:21
  three
• 6:21
  to
• 6:21
  five
• 6:21
  years.
• 6:22
  I
• 6:22
  think
• 6:22
  we're
• 6:22
  going
• 6:22
  to
• 6:23
  have
• 6:23
  cautious
• 6:23
  consumers
• 6:24
  for
• 6:24
  three
• 6:24
  to
• 6:25
  five
• 6:25
  years.
• 6:25
  So
• 6:26
  all
• 6:26
  of
• 6:26
  us
• 6:26
  have
• 6:26
  to
• 6:27
  pivot
• 6:27
  all
• 6:27
  of
• 6:27
  our
• 6:27
  assortments
• 6:28
  to
• 6:28
  be
• 6:28
  able
• 6:28
  to
• 6:29
  address
• 6:29
  it.
• 6:29
  And
• 6:29
  that's
• 6:30
  global,
• 6:30
  global,
• 6:31
  global.
• 6:31
  I
• 6:31
  don't
• 6:31
  think
• 6:31
  it's
• 6:32
  just
• 6:32
  Asia.
• 6:32
  It's
• 6:32
  everywhere.
• 6:33
  And
• 6:33
  Scott,
• 6:34
  what
• 6:34
  bets
• 6:34
  then
• 6:35
  would
• 6:35
  you
• 6:35
  be
• 6:35
  placing
• 6:35
  when
• 6:36
  it
• 6:36
  comes
• 6:36
  to
• 6:36
  technology
• 6:37
  on
• 6:37
  the.
• 6:38
  On
• 6:38
  the
• 6:38
  ways
• 6:39
  to
• 6:39
  really
• 6:39
  double
• 6:40
  down
• 6:40
  so
• 6:40
  that
• 6:41
  you
• 6:41
  are
• 6:41
  investing
• 6:42
  in
• 6:42
  those
• 6:42
  experiences
• 6:43
  that
• 6:43
  you're
• 6:43
  giving
• 6:43
  consumers
• 6:44
  that,
• 6:45
  you
• 6:45
  know,
• 6:45
  what,
• 6:46
  what's
• 6:46
  the,
• 6:46
  what's
• 6:47
  the
• 6:47
  foundation
• 6:47
  that
• 6:48
  people
• 6:48
  should
• 6:48
  be
• 6:48
  like,
• 6:49
  solid
• 6:49
  on
• 6:49
  right
• 6:50
  now?
• 6:50
  It's
• 6:50
  funny
• 6:51
  you
• 6:51
  use
• 6:51
  the
• 6:51
  word
• 6:51
  foundation
• 6:52
  because
• 6:53
  every
• 6:53
  retailer
• 6:54
  who's
• 6:54
  been
• 6:54
  around
• 6:55
  for
• 6:55
  30
• 6:55
  years
• 6:56
  has
• 6:56
  tech
• 6:56
  now.
• 6:57
  You
• 6:57
  know,
• 6:57
  buy,
• 6:58
  move,
• 6:58
  sell
• 6:58
  is
• 6:58
  simple.
• 7:00
  Most
• 7:00
  big
• 7:00
  retailers
• 7:01
  have
• 7:01
  really
• 7:02
  put
• 7:02
  off
• 7:02
  the
• 7:02
  erp,
• 7:03
  so
• 7:03
  we
• 7:03
  have
• 7:03
  to
• 7:04
  modernize
• 7:04
  foundations
• 7:05
  amongst
• 7:06
  all
• 7:06
  retailers.
• 7:07
  The
• 7:07
  bets,
• 7:07
  though,
• 7:08
  to
• 7:08
  me,
• 7:08
  are
• 7:08
  on
• 7:09
  the
• 7:09
  platforms
• 7:10
  that
• 7:10
  we're
• 7:10
  going
• 7:10
  to
• 7:10
  choose
• 7:11
  for
• 7:11
  AI.
• 7:11
  It's
• 7:12
  funny
• 7:12
  as
• 7:12
  coming
• 7:13
  to
• 7:13
  this
• 7:13
  conference
• 7:13
  in
• 7:14
  my
• 7:14
  name
• 7:14
  out
• 7:14
  there,
• 7:15
  I
• 7:15
  probably
• 7:15
  got
• 7:16
  18
• 7:17
  requests
• 7:18
  to
• 7:18
  meet
• 7:18
  me
• 7:19
  via
• 7:19
  LinkedIn
• 7:20
  for
• 7:20
  people
• 7:21
  who
• 7:21
  have
• 7:21
  AI
• 7:22
  solutions.
• 7:22
  Right.
• 7:22
  And
• 7:23
  the
• 7:23
  fact
• 7:23
  is
• 7:24
  there
• 7:24
  are
• 7:24
  a
• 7:24
  lot
• 7:24
  of
• 7:25
  solutions
• 7:25
  that
• 7:25
  are
• 7:25
  not
• 7:25
  yet.
• 7:26
  And
• 7:27
  so
• 7:27
  for
• 7:27
  me,
• 7:27
  the
• 7:28
  big
• 7:28
  bet
• 7:28
  is
• 7:28
  whose
• 7:29
  platform
• 7:29
  are
• 7:29
  you
• 7:29
  going
• 7:30
  to
• 7:30
  use
• 7:30
  to
• 7:30
  help
• 7:30
  you
• 7:30
  one,
• 7:31
  monetize
• 7:31
  your
• 7:31
  data,
• 7:32
  help
• 7:32
  your
• 7:33
  merchants
• 7:33
  do
• 7:33
  a
• 7:34
  better
• 7:34
  job,
• 7:34
  help
• 7:35
  your
• 7:35
  vendors
• 7:35
  do
• 7:36
  better
• 7:36
  promotions,
• 7:37
  and
• 7:37
  at
• 7:37
  the
• 7:37
  same
• 7:37
  time,
• 7:38
  help
• 7:38
  you
• 7:39
  support
• 7:39
  that
• 7:39
  vendor
• 7:40
  portal
• 7:40
  that'll
• 7:41
  bring
• 7:41
  that
• 7:41
  retail
• 7:41
  media
• 7:41
  in
• 7:42
  as
• 7:42
  well.
• 7:42
  So
• 7:42
  that
• 7:43
  whole
• 7:43
  ecosystem,
• 7:44
  to
• 7:44
  me,
• 7:44
  is
• 7:45
  the
• 7:45
  big
• 7:45
  bet
• 7:45
  for
• 7:45
  retailers
• 7:46
  today.
• 7:46
  Yeah,
• 7:47
  because
• 7:47
  we're
• 7:47
  still
• 7:47
  not
• 7:47
  seeing
• 7:48
  one
• 7:48
  person
• 7:48
  taking
• 7:49
  all
• 7:49
  of
• 7:49
  that
• 7:49
  information
• 7:50
  yet,
• 7:50
  too.
• 7:51
  It
• 7:51
  goes
• 7:51
  back
• 7:52
  to
• 7:52
  ideam,
• 7:52
  forgot
• 7:53
  other
• 7:53
  podcasts
• 7:54
  that
• 7:54
  we've
• 7:54
  done
• 7:54
  too,
• 7:54
  about
• 7:55
  the
• 7:55
  importance
• 7:55
  of
• 7:55
  data
• 7:55
  engineering
• 7:56
  being
• 7:56
  the
• 7:57
  kind
• 7:57
  of
• 7:57
  the
• 7:57
  pipes
• 7:58
  of
• 7:58
  everything
• 7:58
  before
• 7:58
  you
• 7:58
  can
• 7:59
  get
• 7:59
  to
• 7:59
  the
• 7:59
  data
• 7:59
  science.
• 8:00
  Right.
• 8:00
  Your
• 8:00
  data
• 8:01
  lake
• 8:01
  is
• 8:01
  dirty.
• 8:01
  It's
• 8:02
  of
• 8:02
  no
• 8:02
  use.
• 8:03
  Right.
• 8:03
  And
• 8:03
  that's
• 8:03
  an
• 8:03
  important
• 8:04
  thing
• 8:04
  for
• 8:04
  CEOs.
• 8:04
  Not
• 8:05
  every
• 8:05
  CEO.
• 8:05
  Again,
• 8:05
  like
• 8:06
  I
• 8:06
  was
• 8:06
  saying
• 8:06
  before,
• 8:07
  not
• 8:07
  every
• 8:07
  CEO
• 8:07
  is
• 8:07
  talking
• 8:08
  about
• 8:08
  AI.
• 8:08
  Not
• 8:08
  every
• 8:08
  CEO
• 8:09
  is
• 8:09
  talking
• 8:09
  about
• 8:09
  the
• 8:09
  data
• 8:10
  to
• 8:10
  that
• 8:10
  extent
• 8:10
  either.
• 8:12
  All
• 8:12
  right,
• 8:12
  well,
• 8:12
  thank
• 8:13
  you
• 8:13
  so
• 8:13
  much,
• 8:13
  Scott.
• 8:14
  We
• 8:14
  really
• 8:14
  appreciate
• 8:15
  you
• 8:15
  taking
• 8:15
  the
• 8:15
  time
• 8:16
  with
• 8:16
  us
• 8:16
  today.
• 8:16
  Thanks
• 8:16
  to
• 8:17
  all
• 8:17
  of
• 8:17
  you
• 8:17
  who
• 8:18
  followed
• 8:18
  along
• 8:18
  our
• 8:19
  coverage
• 8:19
  here
• 8:20
  from
• 8:20
  World
• 8:21
  retail
• 8:21
  Congress
• 8:22
  Day
• 8:22
  1.
• 8:22
  That
• 8:23
  wraps
• 8:23
  us
• 8:23
  up,
• 8:24
  so
• 8:24
  stay
• 8:24
  tuned.
• 8:25
  We'll
• 8:25
  be
• 8:25
  back
• 8:25
  tomorrow
• 8:26
  with
• 8:26
  more
• 8:26
  interviews,
• 8:27
  and
• 8:27
  until
• 8:27
  then,
• 8:28
  be
• 8:28
  careful
• 8:28
  out
• 8:28
  there.