Latest / Omni Talk Retail / Walmart’s High Income Demo, Klarna’s Bold Move & Why Costco May Be The New Pepsi | Fast Five

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Walmart’s High Income Demo, Klarna’s Bold Move & Why Costco May Be The New Pepsi | Fast Five · Omni Talk Retail

0:05
The
0:05
Omnitalk
0:05
Fast
0:05
five
0:05
is
0:06
brought
0:06
to
0:06
you
0:06
in
0:06
association
0:07
with
0:07
the
0:07
A
0:07
and
0:08
M
0:08
Consumer
0:08
and
0:08
retail
0:09
group.
0:09
The
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A
0:10
and
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M
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Consumer
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and
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retail.
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Group
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is
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a
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management
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clients,
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companies
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1:23
by
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retail
1:23
executives
1:24
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the
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of
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helping
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1:26
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1:27
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1:28
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1:29
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Learn
1:31
more@ocampocapital.com
1:32
dot
1:34
hello.
1:35
You
1:35
are
1:35
listening
1:36
to
1:36
Omnitalk's
1:37
retail
1:37
fast
1:37
five,
1:38
ranked
1:38
in
1:38
the
1:38
top
1:38
10%
1:39
of
1:39
all
1:39
podcasts
1:40
globally
1:40
and
1:40
currently
1:41
ranked
1:41
in
1:41
the
1:41
top
1:41
100
1:42
of
1:42
all
1:42
business
1:43
podcasts
1:43
on
1:43
Apple
1:44
Podcasts.
1:44
The
1:45
retail
1:45
Fast
1:45
five
1:45
is
1:46
the
1:46
podcast
1:46
that
1:46
we
1:46
hope
1:46
makes
1:47
you
1:47
feel
1:47
a
1:47
little
1:47
smarter,
1:48
but
1:48
most
1:48
importantly,
1:49
a
1:49
little
1:49
happier
1:49
each
1:50
week
1:50
too.
1:50
And
1:51
the
1:51
Fast
1:51
five
1:51
is
1:51
just
1:52
one
1:52
of
1:52
the
1:52
many
1:52
great
1:52
podcasts
1:53
you
1:53
can
1:53
find
1:54
from
1:54
the
1:54
Omnitalk
1:55
Retail
1:55
podcast
1:56
network
1:56
alongside
1:57
our
1:57
retail
1:57
daily
1:57
minute,
1:58
which
1:58
brings
1:58
you
1:58
a
1:59
curated
1:59
selection
1:59
of
2:00
the
2:00
most
2:00
important
2:00
retail
2:01
headlines
2:01
every
2:02
morning,
2:02
and
2:03
our
2:03
retail
2:03
technology
2:03
spotlight
2:04
series,
2:04
which
2:04
goes
2:05
deep
2:05
each
2:05
week
2:06
on
2:06
the
2:06
latest
2:06
retail
2:07
technology
2:07
trends.
2:08
Today
2:08
is
2:09
October
2:09
2,
2:10
2024.
2:11
I'm
2:11
one
2:11
of
2:11
your
2:11
whole
2:11
San
2:11
Mazinga.
2:12
And
2:13
I'm
2:13
Chris
2:13
Walton
2:14
and
2:14
we
2:14
are.
2:14
Here
2:15
once
2:15
again
2:15
to
2:15
discuss
2:16
all
2:16
the
2:16
top
2:16
headlines
2:17
from
2:17
the
2:17
past
2:17
week
2:18
making
2:18
waves
2:19
in
2:19
the
2:19
world
2:19
of
2:19
omnichannel
2:20
retailing.
2:21
Chris,
2:22
we
2:23
got
2:23
a
2:23
big
2:23
couple
2:23
weeks
2:24
coming
2:24
up.
2:24
The
2:24
countdown
2:25
is
2:25
on
2:26
to
2:26
grocery
2:26
shop
2:27
and
2:27
shop
2:27
talk
2:28
fall.
2:28
So
2:29
joining
2:29
us
2:29
today
2:30
is
2:30
our
2:30
special
2:31
guest,
2:31
Joe
2:32
Laheslow,
2:32
head
2:32
of
2:33
us
2:33
content
2:34
for
2:34
Shop
2:34
Talk.
2:35
And
2:35
Joe
2:35
will
2:35
be
2:36
helping
2:36
us
2:36
break
2:36
down
2:37
all
2:37
the
2:37
week's
2:37
headlines
2:38
and
2:38
share
2:38
with
2:38
us
2:39
a
2:39
few
2:39
details
2:40
of
2:40
what
2:40
we
2:40
can
2:40
expect
2:41
at
2:41
each
2:41
of
2:41
these
2:42
events.
2:42
Joe,
2:42
welcome
2:43
to
2:43
the
2:43
show.
2:44
Hey,
2:45
thank
2:45
you
2:45
so
2:45
much
2:45
for
2:46
having
2:46
me.
2:46
It's
2:46
always
2:47
a
2:47
joy
2:47
to
2:47
talk
2:47
to
2:47
you
2:47
both.
2:48
Yeah.
2:49
Joel,
2:49
how
2:49
busy
2:49
are
2:50
you
2:50
right
2:50
now?
2:50
I
2:50
mean,
2:50
these
2:50
shows
2:51
are
2:51
back
2:51
to
2:51
back.
2:52
They're
2:52
two
2:52
weeks
2:52
in
2:53
a
2:53
row.
2:53
Like,
2:53
are
2:53
you
2:54
just.
2:54
How
2:54
did
2:54
you
2:55
even
2:55
make
2:55
time
2:55
for
2:55
us
2:56
today?
2:56
I'm
2:56
curious.
2:56
Yeah,
2:59
this
2:59
is
2:59
my
2:59
study
3:00
break.
3:01
This
3:01
is
3:01
the
3:01
moment
3:02
when,
3:02
I
3:03
don't
3:03
know,
3:03
I
3:03
get
3:03
to
3:03
get
3:04
my
3:04
head
3:05
out
3:05
of
3:05
our
3:06
agenda
3:06
and
3:06
speakers
3:07
for
3:08
a
3:08
little
3:09
while
3:09
and
3:09
just,
3:10
I
3:10
actually
3:10
welcome
3:12
the
3:12
moment
3:13
to
3:13
take
3:13
a
3:13
breath
3:14
and
3:14
I
3:14
think
3:15
about
3:15
other
3:15
things.
3:16
Yeah,
3:16
it's
3:16
great
3:17
to
3:17
have
3:17
you.
3:17
I
3:17
mean,
3:17
to
3:18
tell
3:18
people
3:18
how
3:18
the
3:18
sausage
3:19
is
3:19
made.
3:19
Joe
3:19
emailed
3:19
us
3:20
on
3:20
Sunday
3:20
night.
3:20
He
3:21
was
3:21
like,
3:21
hey,
3:21
I
3:21
need
3:22
to
3:22
reschedule.
3:22
I've
3:22
got
3:22
a.
3:23
I
3:23
got
3:23
to
3:23
coordinate
3:23
a
3:24
keynote,
3:24
a
3:24
speaking
3:25
engagement
3:25
for
3:26
the
3:26
stage
3:26
here.
3:26
Can
3:27
we
3:27
reschedule
3:27
this
3:27
too
3:28
early
3:28
in
3:28
the
3:28
morning?
3:28
And
3:28
we're
3:29
like,
3:29
yes,
3:29
for
3:29
sure.
3:29
Let's
3:30
get
3:30
it
3:30
done.
3:30
And
3:31
we
3:31
made
3:31
it
3:31
happen,
3:31
so
3:31
it's
3:31
good
3:32
to
3:32
have
3:32
you,
3:32
Joe.
3:33
Yeah,
3:33
thanks.
3:34
I
3:34
appreciate
3:34
you
3:34
being
3:35
flexible
3:35
for
3:36
me,
3:36
as
3:36
my
3:37
calendar
3:37
has
3:37
filled
3:38
unpredictably
3:39
and
3:39
quickly
3:39
over
3:39
the
3:40
last
3:40
five
3:41
days.
3:42
Yeah.
3:42
Um,
3:42
well,
3:43
this
3:43
is
3:43
a
3:43
good
3:43
warm
3:43
up
3:44
for,
3:44
because
3:44
we're
3:44
going
3:45
to
3:45
be
3:45
on
3:45
stage
3:46
with
3:46
you
3:46
at
3:46
grocery
3:47
shop
3:47
and
3:48
shop
3:48
talk,
3:48
doing
3:49
the
3:49
wrap
3:49
up,
3:50
uh,
3:50
content,
3:51
presentations,
3:52
kind
3:52
of
3:52
talking
3:52
about
3:52
everything,
3:53
all
3:53
the
3:53
highlights
3:54
from
3:54
the
3:54
show.
3:54
So
3:55
just
3:55
do
3:56
a
3:56
really
3:56
good
3:56
job
3:56
here,
3:57
Joe,
3:57
and
3:57
then
3:57
it'll
3:57
be
3:58
no
3:58
problem
3:58
when
3:58
we
3:59
do
3:59
it,
3:59
uh,
3:59
later
4:00
on
4:00
down
4:00
the
4:00
road.
4:01
Excellent.
4:02
No
4:02
pressure.
4:04
Um,
4:04
all
4:04
right,
4:05
well,
4:05
Chris,
4:05
before
4:05
we
4:05
get
4:05
to
4:06
the
4:06
headlines,
4:06
we
4:07
have
4:07
a
4:07
little
4:07
bit
4:07
of
4:07
hardware
4:07
to
4:08
hand
4:08
out
4:08
this
4:08
week,
4:08
right?
4:09
We
4:10
do.
4:10
And
4:10
because
4:10
it's
4:11
the
4:11
first
4:11
week
4:12
in
4:12
October,
4:12
so
4:13
therefore,
4:13
it
4:13
is
4:13
time
4:14
to
4:14
recognize
4:15
this
4:15
month's
4:15
omnistar,
4:16
our
4:17
omnistar
4:17
award,
4:17
for
4:18
those
4:18
maybe
4:18
unfamiliar
4:19
or
4:19
just
4:19
tuning
4:19
into
4:19
the
4:20
show
4:20
for
4:20
the
4:20
first
4:20
time,
4:21
is
4:21
the
4:21
award
4:21
we
4:22
give
4:22
out
4:22
each
4:22
month
4:22
in
4:23
partnership
4:23
with
4:23
Corso
4:24
to
4:24
recognize
4:24
the
4:25
top
4:25
omnichannel
4:26
operators
4:26
out
4:27
there.
4:27
Not
4:27
the
4:27
pundits,
4:28
not
4:28
the
4:28
so
4:29
called
4:29
experts,
4:30
but
4:30
the
4:30
real
4:30
life
4:31
retail
4:31
operators
4:31
making
4:32
a
4:32
difference
4:32
in
4:32
their
4:33
organizations.
4:34
Corso's
4:34
AI
4:35
co
4:35
pilot
4:35
coaches
4:36
retailers
4:36
to
4:36
optimize
4:37
store
4:37
performance
4:38
at
4:38
every
4:38
level,
4:39
transform
4:39
retail
4:40
operations
4:40
from
4:41
data
4:41
overload
4:42
into
4:42
data
4:43
powered.
4:43
This
4:44
month's
4:44
award
4:44
goes
4:45
to
4:45
Lori
4:45
Joffe,
4:46
the
4:46
chief
4:46
marketing
4:47
officer
4:47
at
4:48
american
4:48
freight
4:48
appliances
4:49
and
4:49
furniture.
4:50
We
4:51
are
4:51
saluting
4:51
Lori
4:52
this
4:52
month
4:52
because
4:52
she
4:53
is
4:53
one
4:53
of
4:53
the
4:53
most
4:53
inquisitive
4:54
and
4:55
curious
4:55
retail
4:56
minds
4:56
out
4:56
there.
4:57
We
4:57
ran
4:57
into
4:57
her
4:58
at
4:58
shop
4:58
talk
4:59
in
4:59
Vegas
4:59
just
5:00
this
5:00
past
5:00
March.
5:01
That's
5:01
right.
5:01
And
5:01
then
5:01
ran
5:01
into
5:02
her
5:02
again
5:02
at
5:03
another
5:03
show
5:03
in
5:04
New
5:04
York
5:04
in
5:05
June.
5:06
And
5:06
I
5:06
got
5:06
to
5:06
tell
5:07
you,
5:07
she
5:07
knows
5:07
her
5:07
stuff.
5:08
She's
5:08
always
5:08
curious,
5:09
always
5:09
inquisitive.
5:10
I
5:10
just
5:10
love
5:10
running
5:11
to
5:11
her,
5:11
bumping
5:11
into
5:11
her.
5:12
And
5:12
so
5:12
Lori,
5:13
this
5:13
bud,
5:14
I
5:14
mean,
5:14
this
5:14
omnistar
5:15
is,
5:16
does
5:16
she
5:16
like
5:16
Budweiser?
5:17
Is
5:18
she
5:18
a
5:18
buddy?
5:18
No.
5:18
I
5:18
don't
5:18
know.
5:18
I
5:19
just
5:19
like
5:19
saying
5:19
this
5:19
omniscience
5:20
for
5:20
you.
5:20
So
5:20
I
5:20
want
5:20
to
5:21
make
5:21
the
5:21
allusion
5:21
to
5:21
the
5:22
old
5:22
Budweiser
5:22
commercial
5:23
and
5:23
to
5:24
show
5:24
that
5:24
I'm
5:24
a,
5:24
I'm
5:24
a
5:25
full
5:25
on
5:25
Gen
5:25
Xer.
5:26
All
5:26
right,
5:26
let's
5:27
get
5:27
to
5:27
today's
5:28
headlines.
5:28
Joe,
5:29
are
5:29
you
5:29
ready?
5:30
I
5:30
am
5:30
as
5:30
ready
5:31
as
5:31
I'm
5:31
going
5:31
to
5:31
be.
5:32
All
5:32
right,
5:32
let's
5:33
do
5:33
it.
5:33
Today
5:33
we've
5:33
got
5:34
news
5:34
on
5:34
the
5:34
warehouse
5:35
club's
5:35
winning
5:35
over
5:36
Gen
5:36
Z
5:37
DoorDash's
5:38
new
5:38
suite
5:38
of
5:38
digital
5:39
business
5:39
tools.
5:40
Giant
5:40
Eagles
5:41
attempt
5:41
to
5:41
slash
5:42
wait
5:42
times
5:42
for
5:42
its
5:43
delivery
5:43
drivers.
5:44
Klarna
5:45
bringing
5:45
buy
5:45
now,
5:46
pay
5:46
later
5:47
in
5:47
store
5:47
via
5:48
partnership
5:48
with
5:48
Addian.
5:49
And
5:50
the
5:50
A
5:50
and
5:50
M,
5:50
consumer
5:50
and
5:51
retail
5:51
group's
5:51
Marco
5:52
Valentini
5:52
stops
5:53
by
5:53
to
5:53
give
5:53
us
5:53
five
5:54
insightful
5:54
minutes
5:55
on
5:55
how
5:55
grocers
5:56
can
5:56
accelerate
5:57
their
5:57
private
5:57
label
5:58
brand
5:58
growth.
5:58
But
5:58
we
5:59
begin
5:59
today
6:00
with
6:00
more
6:01
big
6:01
up
6:01
market
6:02
news
6:02
out
6:02
of
6:03
Walmart.
6:03
And
6:04
yes,
6:05
headline
6:05
number
6:05
one,
6:06
new
6:07
research
6:07
from
6:08
brickmeets,
6:08
click
6:08
and
6:09
Mercatus
6:09
says
6:09
that
6:10
affluent
6:10
households
6:11
played
6:11
a
6:11
significant
6:12
role
6:12
in
6:13
driving
6:13
Walmart's
6:13
online
6:14
grocery
6:14
growth
6:15
during
6:15
the
6:15
first
6:15
half
6:16
of
6:16
2024
6:17
as
6:17
even,
6:18
sorry.
6:18
Even
6:19
as
6:19
lower
6:19
income
6:20
households
6:20
remain
6:21
the
6:21
retailers
6:21
core
6:22
e
6:22
grocery
6:23
segment.
6:23
According
6:24
to
6:24
grocery
6:24
Dive,
6:25
the
6:25
growth
6:25
stems
6:25
from
6:25
Walmart's
6:26
higher
6:26
income
6:26
households
6:27
spending
6:27
more
6:28
online
6:28
and
6:28
ordering
6:29
more
6:29
frequently
6:29
than
6:29
other
6:30
customer
6:30
segments.
6:31
Walmart's
6:31
growing
6:32
popularity
6:32
with
6:33
higher
6:33
income
6:33
households
6:34
comes,
6:34
quote,
6:35
at
6:35
the
6:35
expense,
6:36
end
6:36
quote.
6:36
Of
6:37
supermarkets,
6:38
hard
6:38
discounters,
6:38
and
6:39
target.
6:39
Walmart's
6:40
most
6:40
affluent
6:41
customer
6:42
segment,
6:42
which
6:42
makes
6:42
up
6:43
more
6:43
than
6:43
$200,000
6:44
in
6:45
annual
6:45
income,
6:46
now
6:46
makes
6:47
up
6:47
8%
6:47
of
6:48
its
6:48
average
6:48
monthly
6:49
active
6:49
user
6:50
base.
6:50
That
6:50
affluent
6:51
monthly
6:51
user
6:52
base
6:52
has
6:52
increased
6:53
five
6:53
times
6:53
faster
6:54
over
6:54
the
6:54
past
6:54
year
6:54
than
6:55
its
6:55
overall
6:55
average
6:56
monthly
6:56
active
6:57
users
6:57
have.
6:57
The
6:58
two
6:58
firms
6:58
found.
6:59
Lower
7:00
income
7:00
households,
7:00
or
7:00
households
7:01
that
7:01
are
7:01
making
7:02
less
7:02
than
7:02
$50,000
7:03
a
7:03
year,
7:03
accounted
7:04
for
7:04
41%
7:04
of
7:05
Walmart's
7:06
average
7:06
active
7:07
monthly
7:07
users,
7:08
compared
7:08
to
7:08
36%
7:09
for
7:09
hard
7:10
discounters,
7:11
30%
7:11
for
7:11
supermarkets,
7:12
and
7:12
28%
7:13
for
7:13
target,
7:14
per
7:14
the
7:14
report.
7:15
But
7:15
while
7:15
Walmart
7:16
sales
7:16
for
7:16
this
7:17
customer
7:17
segment
7:17
dipped
7:18
6%,
7:19
supermarkets
7:20
and
7:20
target
7:20
saw
7:21
a
7:21
drop
7:21
of
7:21
20%.
7:23
Joe,
7:23
this
7:24
is
7:24
also
7:25
our
7:25
a
7:25
and
7:25
M.
7:25
Put
7:26
you
7:26
on
7:26
the
7:26
spot
7:26
question
7:27
of
7:27
the
7:27
week.
7:28
We
7:28
are
7:28
going
7:29
to
7:29
put
7:29
you
7:29
in
7:30
the
7:30
hot
7:30
seat
7:30
here.
7:31
And
7:31
here
7:31
is
7:31
the
7:32
question
7:32
that
7:32
a
7:32
and
7:33
M
7:33
has
7:34
1
7:35
may
7:35
have
7:35
been
7:35
able
7:36
to
7:36
predict
7:36
this
7:37
trend,
7:37
this
7:38
Walmart
7:39
affluent
7:40
customer
7:40
increase
7:40
trend
7:41
per
7:42
a
7:42
and
7:42
M.
7:42
CRG's
7:43
spring
7:43
customer
7:44
sentiment
7:45
survey,
7:45
where
7:45
higher
7:46
income
7:46
households
7:47
maintained
7:47
a
7:48
600
7:48
basis
7:49
point
7:49
higher
7:50
preference
7:50
to
7:50
shop
7:51
online
7:51
in
7:51
general,
7:52
plus
7:52
24%
7:53
of
7:54
higher
7:54
earners,
7:55
indicated
7:55
they've
7:55
switched
7:56
to
7:56
less
7:56
expensive
7:56
grocers.
7:57
Joe,
7:58
do
7:58
you
7:58
suppose
7:59
the
7:59
Walmart
7:59
versus
8:00
broader
8:00
grocery
8:01
results
8:01
are
8:01
indicative
8:02
of
8:02
that
8:02
wallet
8:02
tightening
8:03
for
8:03
more
8:04
affluent
8:04
online
8:05
shoppers
8:05
or
8:06
because
8:06
of
8:06
a
8:06
superior
8:07
Walmart
8:07
delivery
8:08
customer
8:08
experience?
8:09
What
8:09
do
8:09
you
8:10
make
8:10
of
8:10
these
8:10
new
8:10
income
8:11
statistics
8:12
surrounding
8:12
Walmart?
8:13
That
8:14
was
8:14
a
8:14
lot.
8:15
Welcome
8:15
to
8:15
the
8:15
party,
8:16
Joe.
8:16
There's,
8:17
there's
8:17
a
8:17
lot
8:17
of
8:18
stats
8:18
there
8:19
to
8:19
parse
8:20
out.
8:20
I
8:20
kind
8:20
of
8:20
wish
8:20
there
8:21
were
8:21
some,
8:21
some
8:22
graphs
8:22
and
8:22
charts.
8:23
You
8:23
need
8:23
some
8:23
infographics.
8:24
Yes,
8:25
working
8:25
on
8:25
it.
8:26
You
8:26
know,
8:26
my
8:27
head
8:27
went
8:27
first
8:28
to
8:28
customer
8:28
experience
8:29
as
8:29
opposed
8:29
to
8:30
trading
8:30
down,
8:31
or
8:31
affluent
8:32
customers
8:32
suddenly
8:33
watching
8:33
their
8:33
grocery
8:34
budgets
8:34
more.
8:34
It
8:34
was,
8:34
the
8:35
second
8:35
thing
8:35
was
8:36
the
8:36
one
8:36
that
8:36
I
8:36
thought
8:37
of,
8:37
which
8:37
is
8:38
when
8:38
you
8:39
decide
8:39
where
8:39
you
8:39
want
8:40
to
8:40
buy
8:40
your
8:40
groceries
8:41
online
8:41
from,
8:41
if
8:41
you
8:42
do
8:42
it
8:42
at
8:42
all,
8:43
it
8:43
depends
8:43
on
8:43
selection,
8:44
it
8:44
depends
8:44
on
8:45
price,
8:45
but
8:45
most
8:45
importantly,
8:46
it
8:46
depends
8:46
on
8:47
how
8:47
fast
8:47
you
8:48
get
8:48
your
8:48
order
8:48
and
8:48
is
8:48
your
8:48
order
8:49
correct
8:49
and
8:50
those
8:50
kinds
8:50
of
8:50
things.
8:50
And
8:50
it
8:50
only
8:51
takes
8:51
one
8:51
or
8:51
two
8:52
negative
8:52
experiences
8:53
for
8:53
somebody
8:53
to
8:53
sour
8:54
on
8:55
whoever
8:55
they
8:56
use
8:56
the
8:56
first
8:56
time
8:56
and
8:57
try
8:57
somebody
8:57
else.
8:57
And
8:58
I
8:58
kind
8:58
of
8:58
think
8:59
it
8:59
might
8:59
be
8:59
more
9:00
that
9:00
experience
9:01
piece
9:01
that's
9:01
driving
9:02
Walmart's
9:02
success
9:02
with
9:03
affluent
9:03
customers.
9:03
It's
9:04
probably
9:04
a
9:04
little
9:04
bit
9:04
of
9:04
both,
9:05
but
9:05
I
9:05
put
9:05
my
9:06
money
9:06
more
9:06
on
9:07
the
9:07
experience
9:08
they're
9:08
able
9:08
to
9:08
deliver.
9:09
Yeah,
9:09
I
9:10
think
9:10
that
9:10
makes
9:10
a
9:10
lot
9:10
of
9:10
sense,
9:11
Joe.
9:11
I
9:11
mean,
9:11
you
9:12
look
9:12
at
9:12
number
9:12
one,
9:13
and
9:13
that
9:13
being
9:13
convenience,
9:14
and
9:14
the
9:15
majority
9:15
of
9:15
the
9:16
households
9:16
in
9:16
the
9:16
country
9:17
are,
9:17
Walmart
9:18
is
9:18
the
9:18
closest
9:19
option
9:19
for
9:19
them.
9:20
And
9:20
if
9:20
they
9:20
can
9:21
order
9:21
online
9:21
and
9:22
have
9:22
it
9:22
delivered,
9:23
or
9:23
they
9:23
can
9:23
have
9:24
something
9:24
available
9:24
for
9:25
pickup
9:25
on
9:25
their
9:25
schedule,
9:26
that
9:27
is
9:27
a
9:27
huge
9:27
impact,
9:28
regardless
9:29
of
9:29
demographic,
9:30
I
9:30
think,
9:30
but
9:31
especially
9:31
in
9:32
this
9:32
case,
9:32
and
9:32
what
9:32
they're
9:33
seeing
9:33
with
9:33
this
9:34
more
9:34
affluent
9:34
customer.
9:35
But
9:35
Chris,
9:36
what
9:36
are
9:36
your
9:36
thoughts
9:36
here?
9:37
I
9:38
think
9:38
the
9:38
answer
9:38
to
9:38
a
9:38
and
9:38
M's
9:39
question
9:39
is
9:39
clearly
9:40
both
9:40
things
9:40
are
9:41
happening.
9:41
You
9:42
have
9:42
the
9:42
higher
9:42
income
9:42
shopper
9:43
trying
9:43
to
9:43
be
9:43
more
9:44
discerning,
9:44
but
9:44
you
9:44
also
9:45
have
9:45
something
9:45
special
9:46
in
9:46
the
9:46
water
9:46
at
9:46
Walmart.
9:47
And
9:47
so
9:48
I
9:48
think
9:48
at
9:48
the
9:48
end
9:48
of
9:48
the
9:49
day,
9:49
this
9:50
news
9:50
is
9:51
massive
9:52
news.
9:53
It
9:53
really
9:53
is.
9:54
It's
9:54
a
9:54
huge
9:54
headline
9:54
because
9:55
the
9:55
fruits
9:55
of
9:55
it
9:56
are
9:56
really
9:56
going
9:57
to
9:57
be
9:57
felt
9:57
as
9:57
the
9:58
economy
9:58
gets
9:58
better
9:59
and
9:59
the
9:59
lower
9:59
income
10:00
strata
10:00
starts
10:00
to
10:01
reemerge,
10:02
so
10:02
to
10:02
speak,
10:02
at,
10:03
you
10:03
know,
10:03
and
10:03
who
10:03
knows
10:03
when
10:03
that
10:03
is,
10:04
but
10:04
it'll
10:04
happen
10:04
at
10:04
some
10:05
point.
10:05
And
10:06
so,
10:06
you
10:06
know,
10:06
I,
10:07
there's
10:07
two
10:07
things
10:07
I
10:07
would
10:08
key
10:08
in
10:08
on
10:08
with
10:08
this
10:08
announcement.
10:09
First,
10:10
and,
10:10
Joe,
10:10
you
10:10
kind
10:10
of
10:11
mentioned
10:11
it,
10:11
but
10:11
I'll
10:12
go
10:12
into
10:12
it
10:12
a
10:12
little
10:12
bit
10:12
further,
10:13
is
10:13
grocery
10:13
shopping
10:14
is
10:14
a
10:14
really
10:14
sticky
10:15
behavior.
10:15
So
10:15
once
10:15
you
10:16
have
10:16
high
10:16
income
10:16
shoppers
10:17
shopping
10:18
for
10:18
groceries
10:19
at
10:19
Walmart,
10:20
it
10:20
will
10:20
become
10:20
an
10:21
integrated
10:21
part
10:21
of
10:22
their
10:22
weekly
10:22
grocery
10:22
routines.
10:23
And
10:24
the
10:24
second
10:24
point
10:24
I
10:25
make
10:25
is
10:25
that
10:25
the
10:25
data
10:25
also,
10:26
this
10:26
was
10:26
really
10:26
interesting
10:27
to
10:27
me.
10:27
The
10:27
data
10:28
also
10:28
shows
10:28
that
10:28
only
10:29
17%
10:30
of
10:30
Walmart's
10:31
monthly
10:31
users
10:32
bought
10:32
groceries
10:32
online
10:33
from
10:33
another
10:34
supermarket
10:34
format
10:35
in
10:35
the
10:35
first
10:36
quarter
10:36
of
10:36
2024,
10:37
which
10:37
was
10:38
a
10:38
28
10:38
basis
10:39
point
10:39
drop
10:39
from
10:40
the
10:40
same
10:40
period
10:40
in
10:41
2023,
10:42
which
10:42
means
10:42
Walmart's
10:43
getting
10:43
more
10:43
shoppers
10:44
and
10:44
they're
10:44
cross
10:44
shopping
10:45
less.
10:46
So
10:46
that
10:47
bodes
10:47
very
10:48
well
10:48
for,
10:49
for
10:49
Walmart
10:49
going
10:50
forward.
10:50
It
10:50
only
10:50
puts
10:51
more
10:51
tailwind
10:51
at
10:52
their
10:52
back
10:52
if
10:53
they
10:53
can
10:53
continue
10:53
this,
10:54
which,
10:54
and
10:54
then
10:55
they
10:55
get
10:55
the
10:55
lower
10:55
income
10:55
strata
10:56
in
10:56
the,
10:56
into
10:56
the
10:56
game
10:56
as
10:57
well.
10:57
So
10:57
there
10:58
is
10:58
growth
10:58
latent
10:59
here
10:59
that's
10:59
going
10:59
to
11:00
come
11:00
for
11:00
Walmart
11:00
at
11:01
some
11:01
point
11:01
in
11:01
time.
11:01
So
11:02
this
11:02
is
11:02
big
11:02
news
11:02
to
11:03
me.
11:03
Yeah.
11:03
Especially,
11:04
Chris,
11:04
I
11:04
think
11:04
that's
11:04
a
11:05
great
11:05
point.
11:05
But
11:05
especially
11:05
when
11:06
you
11:06
start
11:06
to
11:06
bring
11:06
in,
11:06
like,
11:07
scoop
11:08
fashion
11:08
and
11:08
apparel
11:09
product
11:09
and
11:09
all
11:10
of
11:10
the
11:10
work
11:10
that
11:10
their,
11:10
Walmart's
11:11
really,
11:11
really
11:12
been
11:12
digging
11:12
their
11:13
heels
11:13
into
11:13
in
11:14
the,
11:14
the
11:15
higher
11:15
end
11:15
apparel
11:16
and
11:16
fashion
11:16
as
11:16
they're
11:17
adding
11:17
those
11:17
brands
11:18
to
11:18
their
11:18
marketplace,
11:19
the
11:19
Stockx
11:19
partnership.
11:20
I
11:20
mean,
11:20
I
11:20
think
11:20
you're
11:20
so
11:21
right.
11:21
Like,
11:21
once
11:22
you
11:22
get
11:22
in
11:22
there
11:23
and
11:23
people
11:23
are
11:23
going
11:24
to
11:24
Walmart
11:24
for
11:25
maybe
11:25
a
11:25
pair
11:25
of
11:26
sneakers
11:26
that
11:26
they
11:26
wouldn't
11:27
go
11:27
to
11:27
before,
11:28
and
11:28
now
11:28
they
11:28
can,
11:28
you
11:29
know,
11:29
get
11:30
Thanksgiving
11:31
dinner,
11:32
like
11:32
we
11:32
talked
11:32
about
11:32
last
11:32
week,
11:33
for
11:33
under
11:33
$10
11:34
a
11:34
person
11:35
or
11:35
$7
11:35
a
11:36
person.
11:36
I
11:36
think
11:36
it
11:36
was
11:36
like
11:37
all
11:37
of
11:37
those
11:37
things
11:38
are
11:38
going
11:38
to
11:38
just
11:38
kind
11:39
of
11:39
give
11:39
people
11:39
a
11:39
reason
11:40
to
11:40
keep
11:40
being
11:41
fueled
11:41
in
11:42
that
11:42
Walmart
11:43
experience.
11:44
And
11:44
I
11:44
think
11:44
the
11:45
last
11:45
thing
11:45
that
11:45
I
11:45
would
11:45
just
11:46
add
11:46
to
11:46
kind
11:46
of
11:47
close
11:47
us
11:47
out
11:47
here,
11:47
Chris,
11:48
too,
11:48
is
11:49
I
11:49
think
11:49
that
11:49
the
11:50
digital
11:50
penetration
11:51
is
11:51
really
11:51
important,
11:52
especially
11:52
with
11:52
this
11:52
more
11:52
affluent
11:53
consumer,
11:53
and
11:54
especially
11:54
as
11:54
you're
11:54
starting
11:54
to
11:55
see
11:55
Walmart
11:55
steal
11:56
more
11:56
share
11:56
from,
11:56
like,
11:56
a
11:57
target,
11:57
for
11:57
example.
11:58
I
11:58
think
11:59
Walmart
11:59
is
12:00
dominating
12:00
in
12:01
their
12:01
marketing.
12:02
They're
12:02
dominating
12:03
in,
12:03
you
12:03
know,
12:04
their
12:04
innovation
12:04
investments.
12:05
They're
12:06
doing
12:06
all
12:06
the
12:06
things
12:06
to
12:07
make
12:07
this
12:07
customer
12:08
experience
12:08
really
12:08
good
12:09
from
12:09
a
12:09
digital
12:10
perspective,
12:10
from
12:10
an
12:11
online
12:11
perspective.
12:12
And
12:12
so
12:12
I
12:13
think
12:13
that,
12:13
you
12:13
know,
12:14
for
12:14
me
12:14
at
12:15
least,
12:15
I
12:15
think
12:15
Walmart's
12:16
still
12:16
lacking
12:17
in
12:17
the
12:17
store
12:17
experience
12:18
that
12:19
will
12:19
be
12:19
important
12:20
to
12:20
keep
12:20
and
12:21
maintain
12:21
this
12:22
affluent
12:22
customer.
12:23
So
12:23
I
12:23
think
12:23
seeing
12:24
their
12:24
investment
12:25
here
12:25
in
12:25
digital
12:26
and,
12:27
you
12:27
know,
12:27
in
12:27
the
12:28
Walmart
12:28
that
12:28
they're
12:29
kind
12:29
of
12:29
putting
12:29
out
12:29
into
12:30
the
12:30
public
12:30
is
12:31
great.
12:31
I
12:31
think
12:32
they're
12:32
going
12:33
to
12:33
have
12:33
to,
12:33
to
12:33
maintain
12:34
that
12:34
affluent
12:34
customer
12:35
base.
12:35
They're
12:35
going
12:35
to
12:36
have
12:36
to
12:36
still
12:36
make
12:36
investments
12:37
in
12:37
stores
12:38
if
12:39
they
12:39
want
12:39
to
12:39
kind
12:39
of
12:39
retain
12:40
that
12:40
base
12:41
and
12:41
continue.
12:41
To
12:41
grow
12:41
it,
12:42
which
12:43
they
12:43
are
12:43
doing
12:43
too,
12:44
although
12:44
I
12:44
push
12:44
back
12:44
on
12:44
that
12:45
a
12:45
little
12:45
bit
12:45
because
12:45
I
12:45
think
12:45
all
12:46
this
12:46
growth
12:46
is
12:47
potentially
12:47
additive.
12:47
When
12:48
you
12:48
look
12:48
at
12:48
the
12:48
higher
12:48
income
12:48
shopper,
12:49
I
12:49
think
12:49
it
12:49
also
12:50
plays
12:50
back
12:50
the
12:50
adage
12:51
we
12:51
talked
12:51
about
12:51
on
12:51
the
12:51
show,
12:51
too,
12:51
and
12:52
which
12:52
what
12:52
is
12:52
old
12:53
is
12:53
new
12:53
again.
12:53
You
12:53
know,
12:54
the
12:54
super
12:54
center
12:55
was
12:55
the
12:55
key
12:55
invention
12:56
in
12:56
the,
12:56
in
12:56
the
12:56
eighties,
12:57
basically,
12:58
and
12:58
you,
12:58
and
12:58
the
12:59
grocery
12:59
was
12:59
the
12:59
trip
13:00
driver.
13:00
And
13:00
now
13:00
we're
13:01
seeing
13:01
online
13:01
at
13:01
Walmart,
13:02
that
13:02
grocery
13:02
can
13:02
be
13:02
the
13:03
trip
13:03
driver
13:03
for
13:03
the
13:04
upper
13:04
income
13:05
echelon
13:06
of
13:06
the
13:06
digital
13:06
shopper.
13:07
That
13:07
then,
13:07
to
13:07
your
13:08
point,
13:08
gets
13:08
them
13:08
into
13:08
peril,
13:09
gets
13:09
them
13:09
into
13:09
other
13:09
things,
13:10
and
13:10
that,
13:10
and
13:11
their
13:11
marketplace
13:12
is
13:12
fully
13:12
functioning
13:13
as
13:13
well.
13:13
So
13:13
that's
13:13
all
13:14
additive
13:14
growth
13:15
here
13:15
at
13:15
the
13:15
end
13:15
of
13:15
the
13:15
day.
13:16
So
13:16
you
13:16
think
13:16
the
13:16
store
13:16
experience
13:17
is
13:17
a
13:17
little
13:17
bit
13:17
less
13:18
important.
13:18
It's
13:18
really
13:19
more
13:19
about
13:19
like
13:19
just
13:20
keeping
13:20
them
13:20
in
13:20
the
13:20
digital
13:21
and
13:21
marketplace
13:22
sphere.
13:23
I
13:23
think
13:23
so,
13:23
especially
13:24
when
13:24
you
13:24
look
13:24
at
13:24
the
13:25
tough
13:25
times
13:25
the
13:25
lower
13:26
income
13:26
strategy
13:26
is
13:26
having
13:26
because
13:27
that
13:27
will
13:27
come
13:27
back
13:27
via
13:28
the
13:28
store.
13:29
But
13:29
all
13:29
this
13:29
growth
13:30
is
13:30
additive
13:30
in
13:31
the
13:31
digital
13:31
sphere,
13:32
which
13:32
is
13:32
so
13:32
important
13:33
here.
13:33
So.
13:34
All
13:34
right,
13:34
headline
13:35
number
13:35
two,
13:36
Costco
13:36
and
13:37
Sam's
13:37
club
13:37
appear
13:37
to
13:38
be
13:38
winning
13:38
over
13:38
the
13:38
younger
13:39
generations.
13:40
According
13:40
to
13:40
Business
13:41
Insider,
13:41
during
13:42
Costco's
13:42
recent
13:43
fourth
13:43
quarter
13:43
earnings
13:44
call,
13:44
CFO
13:45
Gary
13:45
Miller
13:46
Chip.
13:47
Honestly,
13:48
Ann
13:48
in
13:48
the
13:48
running
13:48
and
13:49
Joe
13:49
in
13:49
the
13:49
running
13:49
for
13:50
my
13:50
favorite
13:51
CFO
13:51
name
13:52
of
13:52
all
13:52
of
13:53
retail,
13:53
Gary
13:53
Miller
13:54
Chip.
13:54
Miller
13:55
Chip.
13:55
I
13:55
just
13:55
like
13:56
saying
13:56
Miller
13:56
chip.
13:57
It's
13:58
Miller
13:58
chip
13:58
time.
13:59
And
13:59
dropped
14:00
a
14:00
bombshell.
14:00
Approximately
14:01
half
14:02
of
14:02
the
14:02
company's
14:03
new
14:03
signups
14:03
over
14:04
the
14:04
past
14:04
year
14:04
were
14:05
under
14:05
40
14:05
years
14:06
old.
14:06
To
14:06
put
14:06
that
14:06
into
14:07
perspective,
14:08
we're
14:08
talking
14:08
about,
14:08
this
14:08
is
14:09
crazy.
14:09
We're
14:09
talking
14:09
about
14:09
two
14:10
and
14:10
a
14:10
half
14:10
million
14:11
millennial
14:11
and
14:11
Gen
14:12
Z
14:12
households
14:13
willingly
14:13
paying
14:14
for
14:14
the
14:14
privilege
14:15
to
14:15
shop
14:16
in
14:16
bulk.
14:17
And
14:17
not
14:17
to
14:17
be.
14:17
All
14:18
done,
14:18
Walmart
14:18
owned
14:19
Sam's
14:19
club
14:19
is
14:20
reportedly
14:21
is
14:21
reporting,
14:21
excuse
14:22
me,
14:22
equally
14:22
impressive
14:23
numbers
14:24
saying
14:24
Gen
14:24
Z
14:24
membership
14:25
has
14:25
skyrocketed
14:26
by
14:26
68%
14:28
in
14:28
just
14:28
the
14:28
past
14:29
two
14:29
years.
14:30
And
14:30
let's
14:30
go
14:30
to
14:31
you
14:31
first
14:31
on
14:31
this
14:32
one.
14:32
Do
14:32
you
14:32
think
14:33
Costco
14:33
and
14:33
Sam's
14:34
are
14:34
just
14:34
enjoying
14:35
the
14:35
benefits
14:35
of
14:35
shifting
14:36
demographics?
14:37
Or
14:37
is
14:37
there
14:37
something
14:38
also
14:38
in
14:38
the
14:39
water
14:39
here
14:40
that
14:40
is
14:40
making
14:41
these
14:41
two
14:41
the
14:42
Pepsi
14:42
choice
14:43
of
14:43
a
14:43
new
14:43
generation?
14:44
Zachary.
14:44
Chris,
14:45
I
14:45
feel
14:45
like
14:45
you're
14:45
asking
14:46
me
14:46
to
14:46
explain
14:46
dad
14:47
Core
14:47
and
14:47
why
14:48
this
14:48
has
14:48
gone
14:48
beyond,
14:49
like,
14:49
new
14:49
balance
14:50
sneakers
14:51
and
14:51
Kirkland
14:52
brand
14:52
clothing.
14:52
Like,
14:53
but
14:53
somehow
14:54
this
14:54
is.
14:55
This
14:55
started
14:55
a
14:56
trend
14:56
and
14:56
a
14:56
wave.
14:57
And
14:57
yes,
14:57
Gen
14:58
Z
14:58
wants
14:58
to
14:59
save
14:59
more
14:59
money.
14:59
I
14:59
mean,
15:00
I
15:00
pulled
15:00
up
15:00
a
15:01
couple
15:01
of
15:01
stats
15:01
about
15:01
Gen
15:02
Z
15:02
just
15:02
to
15:02
kind
15:02
of
15:03
give
15:03
our
15:03
audience
15:03
a
15:04
little
15:04
bit
15:04
of
15:04
a
15:05
table
15:05
set,
15:05
I
15:06
guess,
15:06
for,
15:06
you
15:06
know,
15:07
where
15:07
Gen
15:07
Z
15:08
is,
15:08
that
15:08
they
15:08
spend
15:09
more
15:09
on
15:09
housing
15:09
and
15:10
insurance
15:10
than
15:10
millennials
15:11
and
15:11
other
15:12
generations.
15:13
They
15:13
have
15:13
more
15:14
debt
15:14
than
15:14
other
15:14
generations.
15:15
They
15:15
spend
15:16
more
15:16
on
15:16
travel
15:16
and
15:16
experiences,
15:17
and
15:18
they
15:18
are
15:18
more
15:18
value
15:19
driven
15:19
than
15:19
loyalty
15:20
driven,
15:20
which
15:20
all
15:21
adds
15:21
up
15:21
to,
15:21
like,
15:21
yes,
15:22
of
15:22
course.
15:22
Why
15:23
wouldn't
15:23
they
15:23
be
15:24
going
15:24
to
15:24
Costco
15:24
and
15:24
be
15:25
going
15:25
to
15:25
Sam's
15:25
club?
15:26
So
15:26
I
15:27
think
15:27
when
15:27
you
15:27
look
15:28
at
15:28
that
15:28
generation
15:29
and
15:30
you
15:30
know
15:30
how
15:30
they're
15:30
spending
15:31
money,
15:31
where
15:31
they're
15:31
spending
15:32
time,
15:32
they
15:32
want
15:33
quality
15:33
products,
15:34
too.
15:34
And
15:34
Costco
15:35
and
15:35
Sam's
15:35
club
15:35
are
15:35
able
15:36
to
15:36
pay
15:36
this
15:36
off
15:36
at
15:37
a
15:37
rate
15:37
that
15:38
many
15:38
other
15:38
retailers
15:39
cannot
15:40
do.
15:40
They
15:40
can't
15:40
have
15:40
this
15:41
assortment
15:41
in
15:41
this,
15:42
this
15:42
product
15:42
that's
15:43
really
15:43
giving
15:44
them
15:44
the
15:44
value
15:45
for
15:45
their
15:45
money.
15:46
So
15:46
I
15:47
think
15:47
that
15:47
this
15:47
is
15:48
not
15:49
a
15:49
surprise
15:49
at
15:49
all.
15:49
I
15:50
think
15:50
it's
15:50
going
15:50
to
15:50
continue,
15:51
especially
15:51
as
15:52
we
15:52
see,
15:52
you
15:53
know,
15:53
more
15:53
Gen
15:53
Z
15:54
and
15:54
millennials
15:54
spending
15:55
a
15:55
greater
15:55
percentage
15:56
of
15:56
their
15:56
income
15:56
on,
15:56
you
15:57
know,
15:57
housing,
15:57
food,
15:58
apparel,
15:58
and
15:58
personal
15:58
care,
15:59
all
15:59
of
16:00
which
16:00
Costco
16:01
and
16:01
Sam's
16:01
club
16:02
are
16:02
able
16:02
to
16:02
provide
16:03
them.
16:03
So,
16:04
yeah,
16:04
I'm
16:04
in.
16:05
Joe.
16:05
So
16:05
you
16:06
think
16:06
this
16:06
is
16:06
kind
16:06
of
16:06
just
16:06
a
16:06
confluence
16:07
of
16:07
factors.
16:07
Macroeconomically,
16:08
what
16:09
Costco
16:09
and
16:09
Sam's
16:09
club
16:10
do?
16:10
Well,
16:10
it's
16:10
just
16:10
kind
16:10
of
16:11
like,
16:11
yep,
16:11
you
16:12
kind
16:12
of
16:12
expect
16:12
this
16:13
going
16:13
in.
16:13
Joe,
16:13
do
16:13
you
16:13
agree
16:14
with
16:14
that?
16:14
And
16:15
Gen
16:15
Z
16:15
and
16:15
millennials
16:15
are
16:16
growing
16:16
up
16:17
and
16:17
starting
16:17
families
16:18
and
16:18
kind
16:19
of
16:19
moving
16:19
out
16:19
of
16:19
their
16:20
small
16:20
starter
16:20
apartments
16:21
to
16:21
larger
16:21
apartments
16:22
or
16:22
to
16:22
the
16:22
suburbs
16:23
as
16:23
well.
16:23
I
16:23
think
16:23
partly
16:24
this
16:24
is
16:24
just
16:25
that
16:25
cohort
16:26
is
16:26
now
16:26
kind
16:26
of
16:27
reaching
16:27
the
16:27
stage
16:28
of
16:28
their
16:28
lives
16:28
where
16:29
they
16:29
can
16:30
buy
16:30
in
16:30
bulk,
16:30
they
16:30
have
16:31
space
16:31
to
16:31
store
16:32
50
16:32
rolls
16:32
of
16:32
toilet
16:33
paper,
16:34
and
16:35
the
16:35
desire
16:35
to
16:35
be
16:35
frugal
16:36
and
16:36
save
16:36
money
16:37
is
16:37
certainly
16:38
a
16:38
contributing
16:38
factor
16:39
as
16:39
well.
16:39
But
16:40
in
16:40
some
16:40
ways,
16:40
this
16:40
isn't
16:41
that
16:41
new.
16:41
I
16:41
was
16:41
looking
16:42
around
16:42
a
16:42
little
16:42
bit
16:42
yesterday.
16:43
I
16:43
found
16:43
a
16:43
2017
16:44
Forbes
16:44
piece
16:44
that
16:45
said
16:45
exactly
16:45
the
16:45
same
16:46
thing,
16:46
that
16:46
Costco
16:46
is
16:46
winning
16:47
over
16:47
millennial
16:47
and
16:47
Gen
16:48
Z
16:48
shoppers.
16:49
But
16:49
then
16:50
it
16:50
was
16:50
probably
16:50
mostly
16:51
millennials,
16:51
not
16:51
so
16:52
much
16:52
Gen
16:52
Z.
16:52
Now,
16:53
seven
16:53
years
16:54
later,
16:54
it's
16:54
the
16:54
Gen
16:55
Zers
16:55
who
16:55
are
16:55
kind
16:56
of
16:56
doing
16:56
that,
16:56
that
16:57
house
16:58
and
16:58
family
16:58
thing.
17:00
Right.
17:01
What
17:01
about
17:01
the
17:01
Sam's
17:02
club
17:02
angle?
17:02
Like,
17:02
are
17:02
you
17:03
surprised
17:03
that
17:03
both
17:04
are
17:04
picking
17:05
up
17:05
share
17:05
here,
17:05
or
17:06
do
17:06
you
17:06
think
17:06
that
17:06
is
17:07
just
17:07
a
17:07
natural
17:08
outgrowth
17:08
of
17:09
everything
17:09
that
17:09
you
17:09
just
17:09
both
17:10
talked
17:10
about?
17:11
What
17:11
do
17:11
each
17:11
of
17:12
you
17:12
think
17:12
about
17:12
that?
17:12
Anne?
17:15
I
17:15
think
17:16
it's
17:16
going
17:16
to
17:16
be
17:16
really
17:16
interesting
17:17
to
17:17
watch
17:17
how
17:17
this
17:18
progresses
17:18
because
17:19
I
17:19
think
17:19
that,
17:20
well,
17:21
Costco
17:21
kind
17:22
of
17:22
is
17:22
like
17:22
the
17:22
target
17:23
in
17:23
this
17:23
case,
17:24
and
17:24
Sam's
17:24
club,
17:25
to
17:25
me,
17:25
is
17:25
kind
17:25
of
17:25
like
17:26
the
17:26
Walmart.
17:26
Like,
17:26
they're
17:26
both
17:27
neck
17:27
and
17:27
neck.
17:27
But
17:28
I
17:28
think
17:29
that
17:29
it's
17:30
going
17:30
to
17:30
be
17:30
interesting
17:31
to
17:31
see
17:31
a
17:32
big
17:32
part
17:32
of
17:32
this
17:32
is
17:32
merchandising
17:33
and
17:33
accessibilities
17:34
to
17:34
the
17:34
stores
17:35
and
17:35
Costco.
17:36
Unless
17:36
they
17:36
start
17:36
to
17:36
change
17:37
things,
17:37
I
17:38
think
17:38
Sam's
17:38
is
17:39
likely
17:39
to
17:39
kind
17:39
of
17:39
continue
17:40
to
17:40
beat
17:41
them
17:41
because
17:42
of
17:42
the
17:42
things
17:42
that
17:42
you
17:42
were
17:43
talking
17:43
about
17:43
last
17:43
week,
17:43
Chris,
17:44
about
17:44
the
17:44
supply
17:45
chain.
17:45
Like,
17:46
convert
17:46
the
17:46
supply
17:46
chains
17:47
converging
17:48
at
17:48
Walmart
17:48
and
17:48
Sam's
17:49
club.
17:49
Like,
17:49
if
17:49
you
17:50
have
17:50
more
17:50
flexibility,
17:51
more
17:51
convenience
17:51
for
17:52
consumers
17:52
than
17:53
what
17:53
Costco's
17:54
offering,
17:54
like,
17:55
this
17:55
could
17:55
be,
17:56
Sam's
17:56
club
17:56
could
17:57
be,
17:57
like,
17:57
coming
17:58
in
17:58
hot
17:58
here.
17:58
And
17:58
I
17:59
think
17:59
really
17:59
starting
17:59
to
18:00
steal
18:00
some
18:00
share
18:00
from
18:00
Costco
18:01
the
18:01
same
18:01
way
18:02
that
18:02
we're
18:02
seeing,
18:02
like,
18:02
Walmart
18:03
from
18:03
the
18:03
last
18:03
three
18:04
kind
18:04
of
18:04
come
18:04
in
18:04
and
18:05
steal
18:05
share
18:05
from
18:05
Target.
18:06
But
18:06
what,
18:06
what
18:07
do
18:07
you
18:07
think,
18:08
Joe?
18:08
Well,
18:08
let's
18:09
go
18:09
to
18:09
Joe
18:09
first.
18:09
Joe's
18:10
got
18:10
Joe's
18:11
chopping
18:11
at
18:11
the
18:11
bid.
18:11
Here
18:12
I
18:12
am.
18:13
So
18:14
I
18:14
think
18:14
I.
18:15
There's
18:15
a
18:15
couple
18:15
of
18:15
factors
18:16
in
18:16
terms
18:16
of
18:16
Sam's
18:17
versus
18:17
Costco,
18:18
right?
18:18
I
18:19
think
18:19
partly
18:19
it's
18:20
what
18:20
your
18:20
parents
18:20
did,
18:21
right.
18:21
If
18:21
you're
18:21
a
18:21
Gen
18:21
Z
18:21
er
18:22
and
18:22
you're
18:22
kind
18:22
of
18:22
setting
18:22
up
18:22
your
18:22
own
18:23
household,
18:23
do
18:23
you
18:24
grew
18:24
up
18:24
going
18:24
to
18:25
Costco
18:25
with
18:25
your
18:25
parents?
18:26
That's
18:26
probably
18:26
where
18:26
you'll
18:27
go
18:27
first.
18:27
But
18:27
it's
18:27
also
18:27
what's
18:28
closer
18:28
to
18:28
wherever
18:29
you're
18:29
setting
18:29
up
18:29
your
18:29
household,
18:30
whatever's
18:30
more
18:30
convenient
18:31
to
18:31
you.
18:31
But
18:32
I
18:32
do
18:32
think
18:32
there's
18:33
an
18:33
interesting
18:33
opportunity
18:34
here.
18:34
And
18:35
my
18:35
always
18:36
unscientific
18:36
way
18:37
of
18:37
thinking
18:37
about
18:37
who's
18:38
really
18:38
trying
18:38
to
18:39
appeal
18:39
to
18:39
Gen.
18:40
Zers
18:40
is
18:40
to
18:40
look
18:41
at
18:41
TikTok.
18:41
So
18:42
Costco
18:42
has
18:42
an
18:43
official
18:43
TikTok.
18:44
It's
18:44
got
18:44
101,000
18:45
followers.
18:46
They
18:46
haven't
18:46
posted
18:46
anything,
18:47
though.
18:47
It's
18:47
like
18:48
empty.
18:48
Sam's
18:49
club
18:49
has
18:49
183,000
18:51
followers
18:51
on
18:51
TikTok
18:52
and
18:52
1.4
18:52
million
18:53
likes
18:54
on
18:54
videos
18:55
that
18:55
it's
18:55
posted.
18:56
And
18:56
the
18:56
control
18:56
group,
18:56
Target.
18:57
Target
18:57
has
18:57
3
18:58
million
18:58
followers
18:58
on
18:59
TikToks
18:59
and
18:59
20.4
19:00
million
19:01
likes
19:02
so
19:02
I
19:02
think
19:02
either
19:02
of
19:03
them
19:03
could
19:04
boost
19:04
their
19:04
appeal
19:05
with
19:05
the
19:05
youngest
19:06
demographic
19:07
that's
19:07
kind
19:07
of
19:07
in
19:08
that,
19:08
in
19:08
that
19:09
nesting
19:09
phase,
19:10
but
19:10
they
19:11
both
19:11
have
19:11
a
19:11
ways
19:11
to
19:11
go.
19:12
Robert?
19:12
Yeah,
19:13
it's
19:13
interesting.
19:13
I'm
19:13
glad
19:13
I
19:13
got
19:14
the
19:14
question
19:14
because
19:15
I
19:15
actually
19:15
did
19:16
some
19:16
research
19:16
yesterday,
19:16
too.
19:17
I
19:17
just
19:17
did
19:17
a
19:17
quick
19:17
Google
19:17
search.
19:18
I
19:18
thought
19:18
there
19:18
were
19:18
less
19:18
Sam's
19:19
club
19:19
stores
19:19
throughout
19:19
the
19:19
US
19:20
than
19:20
there
19:20
were
19:20
Costco
19:21
stores,
19:21
but
19:21
roughly
19:22
they're
19:22
even.
19:23
But
19:23
to
19:24
both
19:24
your
19:24
points,
19:25
and
19:25
Joe,
19:25
I
19:25
love
19:25
the
19:25
TikTok
19:26
statistics
19:26
as
19:27
well.
19:27
And
19:28
I
19:28
love
19:28
the
19:28
points
19:28
you
19:28
brought
19:29
up,
19:29
too,
19:29
is
19:29
if
19:30
I
19:30
was
19:30
to
19:30
bet
19:30
on
19:31
who's
19:31
going
19:31
to
19:32
grow
19:32
more
19:32
or
19:33
return
19:33
more
19:33
money
19:33
to
19:34
their
19:34
shareholders
19:34
here
19:35
in
19:35
the
19:35
next
19:35
ten
19:35
or
19:35
15
19:36
years,
19:36
and
19:36
do
19:36
not
19:36
take
19:36
this
19:36
as
19:37
financial
19:37
advice,
19:37
anyone.
19:38
I'm
19:38
just
19:38
like,
19:39
just
19:39
pontificating
19:40
here.
19:40
I
19:40
would
19:41
bet
19:41
on
19:41
Sam's
19:41
club
19:41
for
19:42
a
19:42
couple
19:42
of
19:42
reasons.
19:42
Like,
19:43
one,
19:43
we
19:43
talked
19:43
about
19:44
it
19:44
last
19:44
week,
19:44
but
19:45
with
19:45
the
19:45
supply
19:46
chain
19:46
merger,
19:47
you
19:47
have
19:47
the
19:48
potentially
19:48
untapped
19:49
combination
19:49
of
19:50
making
19:50
a
19:50
Walmart
19:51
shopper,
19:51
a
19:51
digital
19:52
shopper
19:52
at
19:52
Sam's
19:53
club
19:53
and
19:53
vice
19:54
versa,
19:55
which
19:55
is
19:55
the
19:55
crux
19:55
of
19:56
the,
19:56
of
19:56
the
19:56
decision
19:57
last
19:57
week,
19:57
I
19:57
think
19:57
in
19:58
the
19:58
long
19:58
run,
19:58
and
19:58
that's
19:58
a
19:58
really
19:59
powerful
19:59
statement
19:59
when
19:59
you
19:59
think
20:00
about
20:00
that,
20:00
that
20:00
you
20:00
can
20:00
make
20:00
a
20:01
digital
20:01
shopper
20:01
at
20:01
Walmart,
20:02
a
20:02
shopper
20:02
at
20:03
Sam's
20:03
club.
20:03
Think
20:04
about
20:04
that
20:04
for
20:04
a
20:04
sec.
20:05
And
20:05
then
20:05
the
20:05
second
20:05
thing
20:05
is
20:06
there's
20:06
so
20:06
much,
20:07
you
20:07
guys
20:07
hit
20:07
it.
20:07
There's
20:08
so
20:08
much
20:08
more
20:09
technologically
20:09
advanced
20:10
than
20:10
Costco,
20:11
for
20:11
example,
20:11
like
20:12
their
20:12
scan
20:12
and
20:12
go
20:12
application.
20:13
What,
20:13
and
20:13
what
20:13
is
20:13
it?
20:14
50%
20:14
of
20:14
shoppers
20:15
use
20:15
their
20:15
scanning
20:15
go
20:16
application
20:16
and
20:16
they're
20:16
putting
20:17
retail
20:17
media
20:17
through
20:18
it.
20:18
And
20:18
we
20:19
had,
20:19
we
20:19
had
20:19
discussions
20:20
about
20:20
how
20:20
Coke
20:20
can
20:20
now
20:21
incent
20:22
you
20:22
and
20:22
path
20:22
you
20:22
through
20:23
the
20:23
store,
20:23
through
20:23
retail
20:24
media,
20:24
on
20:24
your
20:25
handheld
20:25
device,
20:25
you
20:26
know,
20:26
in
20:26
theory.
20:26
So
20:27
that's,
20:28
that's
20:28
hugely
20:28
powerful
20:29
and,
20:29
and
20:29
valuable
20:30
to
20:30
this
20:30
shopper
20:31
who
20:31
wants
20:31
to
20:31
shop
20:32
this
20:32
way.
20:32
So
20:32
I'm,
20:33
I'm
20:33
betting
20:33
on
20:33
Sam's,
20:34
like,
20:34
in
20:34
the
20:34
long
20:34
run,
20:35
I
20:35
really
20:35
am.
20:35
I
20:35
mean,
20:36
Chris,
20:36
I
20:36
think
20:36
the
20:36
other
20:36
thing
20:37
that
20:37
you
20:37
bring
20:37
up,
20:37
too,
20:37
and
20:37
Joe
20:38
mentioned
20:38
this,
20:38
it
20:39
does
20:39
come
20:39
down
20:39
to
20:40
it's
20:40
kind
20:40
of
20:40
like
20:40
Ikea
20:41
in
20:41
this
20:41
way,
20:41
where
20:42
like,
20:42
this
20:42
Costco
20:43
trip
20:43
is
20:43
like
20:44
a
20:44
trip.
20:44
You,
20:44
if
20:45
you
20:45
are
20:45
an
20:45
urban
20:45
dweller,
20:46
which
20:46
a
20:46
lot
20:47
of
20:47
these,
20:47
this
20:48
young
20:48
generation
20:49
is
20:49
like,
20:49
you
20:50
have
20:50
to
20:50
figure
20:50
out
20:50
how
20:50
you
20:51
get
20:51
a
20:51
car,
20:51
how
20:51
you
20:52
haul
20:52
all
20:52
this
20:52
stuff
20:53
back,
20:53
too.
20:53
And
20:53
I
20:53
think
20:54
that's
20:54
another
20:54
key
20:54
to
20:54
the
20:55
success,
20:55
potentially,
20:56
of
20:56
Walmart,
20:57
is
20:57
that
20:57
if
20:57
you
20:57
are
20:58
able
20:58
to
20:58
go
20:58
on
20:59
Walmart,
20:59
you're
21:00
starting
21:00
your
21:00
grocery
21:00
trip
21:01
there
21:01
and
21:01
you
21:01
see
21:01
like,
21:02
okay,
21:02
my
21:02
kids
21:03
love
21:03
these
21:03
applesauce
21:04
pouches
21:04
and
21:04
I
21:05
can
21:05
get
21:05
a
21:06
50
21:06
pack
21:06
of
21:06
them
21:07
and
21:07
have
21:07
those
21:08
delivered.
21:08
And
21:08
I
21:08
don't
21:09
have
21:09
to
21:09
make
21:09
the
21:09
trip
21:09
to
21:10
Sam's
21:10
club,
21:10
but
21:10
I
21:10
still
21:10
get
21:11
access
21:11
to
21:11
that
21:11
Sam's
21:12
club,
21:12
you
21:13
know,
21:13
price
21:13
point,
21:14
that
21:15
is
21:15
huge
21:16
and
21:16
that
21:16
saves
21:16
a
21:16
trip
21:17
and
21:17
especially
21:17
for
21:17
those
21:18
young
21:18
families,
21:18
like
21:18
Joe
21:19
said,
21:19
like,
21:19
that's
21:20
a
21:20
huge
21:20
savings
21:21
for
21:21
them.
21:21
And
21:21
I
21:22
think
21:22
to
21:22
your
21:22
point,
21:23
like,
21:23
just
21:23
kind
21:23
of
21:23
catapult
21:24
Sam's
21:25
trajectory
21:26
as
21:27
kind
21:27
of
21:27
sealing
21:28
favor
21:28
for
21:29
from
21:29
that
21:29
demographic.
21:30
Yeah.
21:30
And
21:30
then
21:30
you
21:31
get
21:31
me
21:31
thinking,
21:31
too.
21:31
And
21:33
does
21:33
the
21:33
Sam's
21:33
club
21:33
membership
21:34
merge
21:34
with
21:34
Walmart
21:35
plus
21:35
in
21:35
the
21:35
long
21:35
run,
21:35
like,
21:36
there's
21:36
so
21:36
many
21:37
options
21:37
here
21:38
and
21:38
so
21:38
much
21:38
option
21:39
value
21:39
in
21:39
this
21:39
discussion.
21:40
Joe,
21:40
you're
21:40
in
21:40
New
21:41
York.
21:41
How
21:41
often
21:41
do
21:41
you
21:41
go
21:41
to
21:42
Costco?
21:45
Once
21:46
a
21:46
year
21:46
when
21:46
I'm
21:46
visiting
21:47
my
21:47
family
21:48
out
21:48
in
21:48
the
21:48
more
21:49
normal
21:49
parts
21:49
of
21:50
the
21:50
United
21:50
States.
21:51
So
21:52
there
21:52
you
21:52
go.
21:52
There
21:52
you
21:52
go.
21:53
You
21:53
could
21:53
become.
21:53
Yep.
21:54
You
21:54
could
21:54
become
21:54
a
21:55
Sam's
21:55
club
21:55
shopper
21:56
digitally
21:56
via
21:57
Walmart.
21:57
Joe's
21:58
just
21:58
got
21:58
to
21:58
wait
21:58
for
21:58
them
21:59
to
21:59
bring
21:59
jet
21:59
black
22:00
back,
22:00
jet.com
22:01
black
22:02
service
22:02
back
22:03
and
22:03
have
22:03
somebody
22:04
run
22:05
talk.
22:06
To
22:06
my
22:06
concierge
22:07
about
22:07
bulk
22:07
ordering
22:08
my
22:08
apple.
22:08
Yeah,
22:09
right.
22:09
Exactly.
22:10
Exactly,
22:10
Joe.
22:12
All
22:12
right,
22:12
let's
22:12
move
22:13
on
22:13
to
22:13
headline
22:13
number
22:13
three.
22:14
DoorDash
22:15
has
22:15
launched
22:15
a
22:15
new
22:16
suite
22:16
of
22:16
digital
22:16
business
22:17
tools.
22:17
According
22:17
to
22:17
chain
22:18
storage,
22:18
the
22:18
new
22:18
products
22:19
and
22:19
features
22:19
include
22:20
the
22:20
DoorDash
22:20
commerce
22:21
platform,
22:21
which
22:22
consists
22:22
of
22:23
these
22:23
five
22:24
core
22:24
solutions.
22:25
First,
22:26
a
22:26
drive
22:27
on
22:27
demand
22:27
solution
22:27
that
22:28
offers
22:28
the
22:28
ability
22:29
to
22:29
offer
22:29
delivery
22:30
through
22:30
a
22:30
business's
22:31
own
22:31
app
22:31
or
22:31
website.
22:32
Second,
22:33
online
22:33
ordering,
22:34
which
22:34
is
22:34
a
22:34
way
22:35
to
22:35
provide
22:35
commission
22:36
free
22:36
digital
22:36
sales
22:37
and
22:37
branding
22:37
on
22:37
a
22:38
retailer's
22:38
website
22:38
or
22:39
own
22:39
branded
22:39
app.
22:40
Third,
22:41
phone
22:41
ordering,
22:42
which
22:42
is
22:42
an
22:42
AI
22:43
based
22:43
call
22:43
and
22:43
ordering
22:44
system
22:44
with
22:44
menu
22:45
recommendations.
22:46
Fourth,
22:47
tableside
22:47
order
22:48
and
22:48
pay,
22:49
which
22:49
is
22:49
the
22:49
option
22:50
for
22:50
customers
22:50
to
22:50
scan
22:51
a
22:51
QR
22:51
code
22:51
with
22:51
their
22:52
phone
22:52
for
22:52
increased
22:53
order
22:53
efficiency.
22:54
And
22:54
fifth,
22:55
customer
22:55
support
22:56
solutions
22:56
in
22:56
the
22:56
form
22:56
of
22:56
a
22:57
dedicated
22:57
delivery
22:58
support
22:58
platform
22:58
for
22:59
customer
22:59
inquiries.
23:00
Chris,
23:00
we're
23:00
going
23:00
to
23:01
go
23:01
to
23:01
you
23:01
first
23:01
here
23:03
as
23:03
both
23:03
Instacart
23:04
and
23:04
DoorDash
23:05
look
23:05
to
23:05
extend
23:05
their
23:06
reach
23:06
into
23:06
the
23:07
technological
23:08
solutions
23:08
that
23:08
power
23:09
a
23:09
larger
23:09
range
23:09
of
23:10
grocers
23:10
and
23:10
restaurants
23:11
operations
23:12
beyond
23:12
just
23:12
delivery.
23:13
Whose
23:13
approach
23:14
do
23:14
you
23:14
like
23:15
more?
23:17
Oh,
23:18
wow.
23:18
Okay.
23:19
Coming
23:19
in
23:19
hot
23:19
for
23:19
me,
23:19
too,
23:20
and
23:20
I
23:20
mean
23:21
hands
23:21
down.
23:22
Hands
23:22
down
23:22
is
23:22
Doordash.
23:23
Okay,
23:24
I
23:24
would
23:24
go.
23:25
Explain
23:25
yourself.
23:26
Explain
23:26
yourself.
23:27
Big,
23:28
big
23:28
foot
23:29
on
23:29
the
23:29
scale
23:29
at
23:29
Doordash
23:30
because
23:31
the
23:31
rest,
23:31
because
23:32
for
23:32
a
23:32
few
23:32
reasons,
23:33
restaurant
23:33
business
23:33
is
23:34
more
23:34
fragmented
23:35
and
23:35
in
23:35
need
23:36
of
23:36
solutions
23:36
like
23:36
this
23:37
that
23:37
work
23:37
than,
23:37
say,
23:38
the
23:38
grocery,
23:39
grocery
23:39
industry
23:39
is
23:39
fragmented,
23:40
but
23:40
it's
23:40
not
23:40
as
23:40
fragmented
23:41
as
23:41
the
23:41
restaurant
23:42
business.
23:42
And
23:42
I
23:43
was
23:43
also
23:43
add
23:44
that
23:44
the
23:44
restaurant
23:44
business
23:45
is
23:45
easier
23:46
to
23:46
run
23:46
than
23:47
a
23:47
grocery
23:47
store.
23:48
And
23:48
for
23:48
all
23:48
of
23:48
you
23:49
detractors
23:49
out
23:49
there
23:51
debate
23:51
that,
23:52
and
23:52
you're
23:53
like,
23:53
what
23:53
are
23:53
you
23:54
talking
23:54
about?
23:54
You
23:54
now
23:55
know
23:55
that
23:55
running
23:55
a
23:56
restaurant
23:56
is
23:56
easier
23:57
than
23:57
running
23:57
a
23:57
grocery
23:57
store,
23:58
because
23:58
restaurants
23:59
are
23:59
inside
24:00
of
24:00
grocery
24:00
stores.
24:01
So
24:01
it
24:02
means
24:02
what
24:02
Instacart
24:02
is
24:02
trying
24:03
to
24:03
do
24:03
is
24:03
very,
24:04
very
24:05
difficult.
24:06
You
24:06
know,
24:06
it's
24:06
hard
24:06
to
24:07
come
24:07
up
24:07
with
24:07
the
24:07
technological
24:08
pieces
24:08
that
24:08
make
24:09
everything
24:09
work.
24:10
And
24:10
so
24:10
if
24:10
I
24:10
said
24:10
that
24:11
another
24:11
way,
24:12
what's
24:12
an
24:12
easier
24:13
thing
24:13
for
24:13
me
24:13
to
24:13
buy
24:13
into
24:14
you?
24:14
The
24:14
fact
24:14
that
24:14
you
24:14
can
24:15
get
24:15
consumers
24:16
to
24:16
scan
24:16
a
24:16
QR
24:16
code
24:17
on
24:17
a
24:17
table,
24:18
or
24:18
that
24:18
you
24:18
can
24:19
get
24:19
them
24:19
to
24:19
start
24:19
using
24:20
a
24:20
smart
24:20
shopping
24:21
cart.
24:21
I
24:21
think
24:21
we
24:21
know
24:22
the
24:22
answer
24:22
to
24:22
that
24:22
one.
24:23
So
24:23
restaurants
24:24
aren't
24:24
going
24:24
anywhere
24:25
yet.
24:25
You
24:25
know,
24:25
like
24:26
we
24:26
discussed
24:26
tangentially
24:27
in
24:27
the
24:27
first
24:27
two
24:27
headlines,
24:28
the
24:28
grocers,
24:29
they've
24:29
got
24:29
a
24:29
tough
24:29
road
24:30
row
24:30
to
24:30
hoe.
24:30
And
24:30
so
24:31
who
24:31
knows?
24:31
You
24:32
know,
24:32
I
24:32
think
24:32
it's
24:32
a
24:32
cart.
24:33
Just
24:33
got
24:33
an
24:33
uphill
24:33
battle
24:33
relative
24:34
to
24:34
what
24:34
Doordash
24:34
is
24:34
trying
24:35
to
24:35
do
24:35
here.
24:35
That's
24:36
my
24:36
take.
24:36
Okay.
24:37
I
24:37
like
24:37
it.
24:38
I
24:38
like
24:38
it.
24:38
Um,
24:39
I
24:39
agree
24:39
with
24:39
you,
24:40
Joe.
24:41
Like,
24:42
I'm
24:43
definitely,
24:44
definitely
24:44
not
24:44
going
24:44
to
24:45
pick
24:45
a
24:45
favorite.
24:45
We
24:45
love
24:46
both
24:46
Doordash
24:46
and
24:47
Instacart.
24:47
They're
24:47
both
24:48
grocery
24:48
shop
24:49
next
24:49
week.
24:50
So
24:51
I
24:51
don't
24:51
know
24:51
that
24:51
I
24:51
like
24:52
one
24:52
or
24:52
the
24:52
other
24:52
solution
24:53
better.
24:54
But
24:54
I
24:54
do
24:54
think
24:54
it's
24:54
really
24:55
smart
24:55
on
24:55
Doordash's
24:56
part
24:56
to
24:57
add
24:57
to
24:57
the
24:57
suite
24:58
of
24:58
services
24:58
that
24:58
it
24:59
offers
24:59
to
25:00
its
25:00
retailer
25:01
and
25:02
restaurant
25:02
clients.
25:03
Anytime
25:04
you
25:04
get
25:04
somebody
25:05
buying
25:05
two
25:05
or
25:05
three
25:06
pieces
25:06
of
25:07
your
25:07
modular
25:07
solution,
25:08
they're
25:08
bound
25:09
to
25:09
be
25:10
more
25:10
sticky,
25:10
more
25:10
loyal
25:11
to
25:11
you
25:12
than
25:12
somebody
25:12
who's
25:12
just
25:13
doing
25:13
it
25:13
for
25:14
the
25:14
ordering
25:15
and
25:15
delivery
25:15
piece.
25:16
I
25:16
think
25:16
maybe
25:16
the
25:17
most
25:17
interesting
25:17
single
25:18
component
25:18
here,
25:18
the
25:18
one
25:18
that
25:19
had
25:19
me
25:19
scratching
25:19
my
25:19
head
25:19
a
25:19
little
25:20
bit,
25:20
is
25:20
the
25:21
phone
25:21
ordering.
25:21
Like,
25:22
pick
25:22
up
25:22
and
25:22
call
25:22
and
25:23
talk
25:24
to
25:24
a
25:24
fake
25:24
person
25:25
about
25:25
your
25:25
order.
25:26
Because
25:26
so
25:27
much
25:27
of
25:27
what
25:27
we
25:27
talk
25:27
about
25:28
when
25:28
we
25:28
talk
25:28
about
25:28
technology
25:29
is
25:29
clearly
25:29
geared
25:29
at,
25:29
like,
25:30
younger
25:30
customers
25:31
as
25:31
the
25:31
early
25:31
adopters.
25:32
And
25:32
that's
25:32
gotta
25:32
be
25:33
the
25:33
opposite.
25:33
Like,
25:33
this
25:33
is
25:34
one
25:34
of
25:34
these
25:34
rare
25:34
technology
25:35
things
25:35
that
25:35
if
25:35
anybody
25:35
uses
25:36
it,
25:36
it
25:36
would
25:36
be
25:36
older
25:37
shoppers
25:37
who
25:37
don't
25:38
wanna
25:38
go
25:38
on
25:38
an
25:39
app
25:39
and
25:39
like,
25:39
tap
25:40
and
25:40
shop
25:41
that
25:41
way.
25:41
So
25:42
interesting
25:42
to
25:42
see
25:43
what
25:43
kind
25:43
of
25:43
traction
25:43
it
25:44
gets.
25:44
Probably
25:45
more
25:45
restaurants
25:45
than
25:46
grocery,
25:46
but
25:47
either
25:47
way,
25:48
it's
25:48
nice
25:48
to
25:49
see
25:49
a
25:49
tech
25:49
solution
25:50
that
25:50
isn't
25:51
entirely
25:52
visual
25:52
and
25:52
app
25:53
based
25:53
and,
25:53
and
25:54
geared
25:54
for
25:54
those
25:54
younger
25:55
shoppers.
25:55
I
25:56
mean,
25:56
I
25:56
think
25:57
you're
25:57
bringing
25:57
up
25:57
some
25:57
really
25:58
important
25:58
points,
25:58
both
25:59
of
25:59
you,
25:59
but
26:00
you
26:00
just,
26:00
you
26:01
look
26:01
at
26:01
all
26:01
of
26:01
the
26:02
efficiencies
26:02
that
26:02
this
26:02
is
26:03
going
26:03
to
26:03
provide.
26:03
I
26:03
mean,
26:04
think
26:04
as
26:04
a
26:04
restaurant
26:05
owner,
26:05
you
26:06
now,
26:06
like,
26:07
you
26:07
don't
26:07
have
26:07
to
26:07
do
26:07
anything.
26:08
You
26:08
just,
26:08
you
26:08
have
26:09
online
26:09
ordering
26:09
automatically
26:10
in
26:10
your
26:10
app
26:11
that's
26:11
coming
26:11
through.
26:12
You're
26:12
cutting
26:12
down
26:13
on
26:13
staffing
26:14
because
26:14
you
26:14
don't
26:14
have
26:15
to
26:15
have
26:15
somebody,
26:16
you
26:16
know,
26:16
on
26:17
the
26:17
phone
26:17
lines
26:18
answering
26:18
questions.
26:18
And
26:19
especially,
26:19
especially
26:20
Doordash
26:20
is
26:20
so
26:21
good
26:21
at
26:21
this.
26:21
I
26:21
don't
26:21
know
26:21
if
26:22
either
26:22
of
26:22
you
26:22
have
26:22
ever
26:22
encountered.
26:23
Have
26:23
you
26:23
ever
26:23
had
26:23
to
26:23
come
26:24
customer
26:24
support
26:25
at
26:25
DoorDash?
26:25
Like
26:26
if
26:26
you
26:26
had
26:26
an
26:26
order
26:26
go
26:27
wrong
26:27
or
26:27
anything
26:28
like
26:28
that?
26:28
No,
26:29
no,
26:29
not
26:30
really.
26:30
It
26:30
always
26:30
goes
26:30
pretty
26:31
well
26:31
for
26:31
me,
26:31
actually.
26:31
Well,
26:32
I
26:32
have
26:32
to
26:32
say,
26:33
like,
26:33
I
26:33
know
26:34
I'm
26:34
talking
26:34
to
26:34
a
26:34
robot.
26:35
They
26:35
have
26:35
handled
26:36
my,
26:37
like,
26:37
order
26:37
issues
26:38
so
26:39
quickly
26:39
and
26:39
so
26:39
efficiently,
26:40
and
26:40
it
26:41
doesn't,
26:41
like,
26:41
I,
26:42
in
26:42
most
26:42
cases,
26:43
I
26:43
would
26:43
question
26:43
the
26:43
stuff
26:44
that
26:44
Joe's
26:44
talking
26:44
about.
26:45
Like,
26:45
is
26:45
the
26:46
person
26:46
really
26:46
going
26:46
to
26:46
have
26:46
a
26:47
fruitful
26:47
conversation
26:48
ordering
26:48
their
26:48
dinner
26:49
with
26:49
a,
26:50
with
26:50
AI
26:51
generated
26:52
order
26:52
taker?
26:53
But
26:53
Doordash
26:54
has
26:54
done
26:55
such
26:55
a
26:55
phenomenal
26:56
job
26:56
on
26:56
the
26:56
customer
26:57
service
26:57
side
26:57
of
26:57
this
26:57
that
26:58
I
26:58
think
26:58
that
26:58
they'll
26:58
definitely
26:59
be
26:59
using
26:59
those
26:59
tactics
27:00
to
27:00
make
27:00
sure
27:00
that
27:01
that
27:01
process
27:02
is
27:02
as
27:02
seamless
27:02
as
27:03
possible.
27:03
The,
27:04
the
27:04
other
27:04
thing,
27:04
too,
27:05
is
27:05
like,
27:05
I
27:05
think
27:05
you
27:06
look
27:06
at
27:06
the
27:06
stickiness
27:07
of
27:07
the
27:07
Doordash
27:08
consumer.
27:09
You
27:09
have
27:09
Doordash.
27:10
As
27:10
of
27:10
the
27:11
end
27:11
of
27:11
last
27:11
year,
27:11
they
27:12
have
27:12
37
27:13
million
27:13
active
27:13
users,
27:14
compared
27:14
to
27:14
Instacart's
27:15
14
27:16
million
27:16
active
27:16
users
27:17
at
27:17
the
27:17
end
27:18
of
27:18
last
27:18
year.
27:18
And
27:18
so
27:18
I
27:19
think
27:19
that
27:19
for
27:19
all
27:19
these,
27:20
these
27:21
restaurants
27:21
or
27:22
grocers
27:22
who
27:22
are
27:23
looking
27:23
for,
27:24
you
27:24
know,
27:25
the
27:25
go
27:25
to,
27:26
to
27:26
be
27:26
part
27:26
of
27:26
the
27:26
kind
27:26
of
27:27
go
27:27
to
27:27
app
27:27
when
27:27
it
27:28
comes
27:28
to
27:28
food
27:28
ordering
27:29
and
27:29
grocery
27:30
ordering.
27:30
Like,
27:30
they've
27:31
got
27:31
DoorDash
27:32
already
27:32
there.
27:32
They've
27:32
set
27:32
up
27:33
this
27:33
clientele
27:33
who's
27:34
used
27:34
to
27:34
the
27:35
functionality
27:35
of
27:36
that
27:36
application.
27:37
But,
27:37
Chris,
27:37
close
27:37
us
27:38
off
27:38
here
27:39
point.
27:39
Because
27:40
when
27:40
you
27:40
go
27:40
back
27:40
to
27:40
it,
27:40
because
27:41
the
27:41
restaurant
27:41
delivery,
27:41
like
27:41
we've
27:41
talked
27:42
about
27:42
in
27:42
the
27:42
show,
27:42
that's
27:42
the
27:42
niche,
27:43
that's
27:43
the
27:43
strategic
27:44
differentiation
27:45
point
27:45
here.
27:45
Because
27:46
a
27:46
lot
27:46
of
27:46
what
27:46
Instacart's
27:47
doing,
27:47
too,
27:47
like
27:48
when
27:48
you
27:48
look
27:48
at
27:49
standing
27:50
up
27:50
the
27:50
website
27:50
browser
27:51
for
27:51
the
27:51
small
27:51
local
27:51
grocers
27:52
and
27:52
whatnot,
27:53
Doordash
27:53
can
27:53
potentially
27:54
do
27:54
that
27:55
as
27:55
well.
27:56
That's
27:56
the
27:56
easy
27:57
stuff
27:57
to
27:57
do.
27:57
And
27:57
then
27:57
that
27:57
just
27:58
erase
27:59
the
27:59
bottom
27:59
in
28:00
terms
28:00
of
28:00
who
28:00
can
28:00
provide
28:00
it
28:01
at
28:01
the
28:01
lowest
28:01
cost.
28:01
And
28:02
there's
28:02
tons
28:02
of
28:02
other
28:02
providers
28:03
out
28:03
there
28:03
besides
28:04
these
28:04
two.
28:04
But
28:05
when
28:05
you
28:05
get
28:05
into
28:05
the
28:05
operations
28:06
of
28:06
a
28:06
restaurant
28:07
versus
28:07
a
28:08
grocery
28:08
store,
28:08
too,
28:09
that's
28:09
where
28:09
I
28:09
think
28:10
there's
28:10
just
28:11
more
28:11
growth
28:12
from
28:12
this
28:13
strategy
28:13
than
28:13
I
28:13
think
28:13
it
28:14
is,
28:14
than
28:14
there
28:14
is
28:15
in
28:15
terms
28:15
of
28:15
Instacart,
28:16
because
28:16
it's
28:16
gonna
28:16
be
28:16
harder
28:16
for
28:16
Instacart
28:17
to
28:17
get
28:17
in
28:17
there
28:17
and
28:17
do
28:18
all
28:18
this,
28:18
but.
28:19
And
28:19
you
28:19
can
28:20
order
28:20
from
28:20
your
28:20
table,
28:21
from
28:21
the
28:21
QR
28:21
code,
28:22
which
28:22
I'm
28:22
just
28:22
a
28:22
huge
28:23
fan
28:23
of.
28:25
I
28:25
can't
28:25
wait
28:26
for
28:26
that
28:26
to
28:26
come.
28:26
Oh,
28:27
my
28:27
God.
28:27
That
28:27
is
28:27
still
28:28
my
28:28
biggest
28:28
frustration
28:28
with
28:29
restaurant
28:29
shopping.
28:29
Waiting
28:30
for
28:30
the
28:30
check.
28:30
It
28:30
just
28:31
makes
28:31
sense.
28:31
Oh,
28:31
my
28:31
gosh.
28:32
I
28:32
know.
28:32
I
28:32
know.
28:33
All
28:33
right,
28:33
well,
28:33
let's
28:34
say
28:34
hello
28:34
to
28:34
Marco
28:35
from
28:35
the
28:35
A
28:35
and
28:36
M
28:36
consumer
28:36
and
28:36
retail
28:37
group.
28:40
Joining
28:40
us
28:41
now
28:41
for
28:41
five
28:41
insightful
28:42
minutes
28:42
is
28:42
the
28:43
managing
28:43
director
28:43
at
28:44
the
28:44
A
28:44
and
28:44
M
28:44
consumer
28:45
and
28:45
retail
28:45
group,
28:46
Marco
28:46
Valentini.
28:47
Marco
28:48
will
28:48
be
28:48
discussing
28:48
with
28:49
us
28:49
the
28:49
results
28:49
of
28:49
his
28:50
company's
28:50
most
28:51
recent
28:51
report
28:51
on
28:52
how
28:52
retailers
28:52
can
28:53
successfully
28:53
build
28:54
and
28:54
foster
28:54
a
28:55
strong
28:55
own
28:55
brand
28:56
strategy.
28:57
Marco,
28:58
first
28:58
question
28:58
for
28:59
you
28:59
today.
29:00
Why
29:00
is
29:00
it
29:00
important
29:01
for
29:01
retailers
29:02
to
29:02
invest
29:02
in
29:03
private
29:03
brands?
29:04
Yes,
29:04
we're
29:04
seeing
29:05
a
29:05
strong
29:06
growth
29:06
of
29:07
private
29:07
brands
29:08
in
29:08
the
29:08
market.
29:09
Private
29:09
brands
29:10
continue
29:11
to
29:11
outgrow
29:11
national
29:12
brands
29:13
and
29:13
they
29:13
continue
29:14
to
29:14
be
29:14
a
29:15
differentiator
29:16
for
29:16
many
29:16
retailers
29:18
and
29:18
their
29:19
offer.
29:20
The
29:22
private
29:22
brands
29:22
today
29:23
represent
29:23
roughly
29:24
20%
29:25
of
29:25
food
29:26
in
29:27
the
29:27
US.
29:27
And
29:27
this
29:28
trend
29:28
is
29:28
continued.
29:29
This
29:29
penetration
29:30
has
29:31
continued
29:31
to
29:31
grow
29:32
over
29:32
the
29:32
last
29:32
ten
29:33
years
29:33
and
29:34
is
29:34
expected
29:34
to
29:35
achieve
29:35
24%
29:36
by
29:36
2030.
29:38
We
29:38
are
29:38
also
29:38
seeing
29:39
private
29:39
brands
29:40
continuing
29:41
to
29:41
outgrow
29:43
national
29:43
brands
29:44
at
29:44
roughly
29:44
the
29:45
rate
29:45
of
29:45
400
29:46
basis
29:46
points.
29:47
That
29:47
means
29:48
that
29:48
think
29:49
about
29:50
every
29:50
year,
29:50
roughly
29:51
$1.5
29:51
billion
29:53
are
29:53
shifting
29:53
from
29:53
national
29:54
brand
29:54
to
29:54
private
29:55
brands.
29:55
So
29:56
there's
29:56
a
29:56
clear
29:56
opportunity
29:57
in
29:57
terms
29:57
of
29:58
market
29:58
share
29:59
there
29:59
to
29:59
capture
30:00
growth
30:00
that
30:01
ultimately
30:01
is
30:01
not
30:01
accessible
30:04
for
30:04
many
30:05
retailers.
30:06
Marco,
30:07
I
30:07
know
30:07
why
30:07
I
30:08
love
30:08
private
30:08
brands,
30:09
part
30:09
of
30:09
that
30:10
reason
30:10
being
30:10
the
30:10
value
30:11
component
30:12
of
30:12
that.
30:12
But
30:13
why
30:13
do
30:14
you
30:14
feel
30:14
like
30:14
customers
30:15
really
30:15
love
30:16
those
30:16
private
30:16
brand
30:17
options?
30:18
Yeah.
30:19
Customers
30:19
are
30:20
often
30:21
loving
30:21
national
30:22
brands,
30:23
private
30:23
brands
30:23
even
30:24
more
30:24
than
30:24
their
30:24
national
30:25
brands
30:25
equivalent.
30:27
They,
30:27
in
30:28
many
30:28
cases,
30:29
the
30:30
customers
30:31
cannot
30:31
distinguish
30:31
whether
30:32
a
30:32
brand
30:33
is
30:33
owned
30:33
by
30:33
a
30:33
retailer
30:34
or
30:34
national
30:35
brand.
30:36
And
30:36
you
30:36
have
30:36
many
30:37
examples
30:37
of
30:39
brand
30:39
that
30:39
have
30:40
highest
30:41
level
30:41
of
30:41
advocacy
30:42
and
30:42
love
30:43
from
30:43
customers.
30:43
Think
30:44
about
30:44
the
30:45
trader
30:45
Joe's
30:45
assortment
30:46
or
30:47
Kirkland
30:48
from
30:48
Costco.
30:49
These
30:50
brands
30:50
are
30:50
highly
30:51
recognized
30:52
and
30:52
they
30:52
not
30:52
just
30:53
provide
30:53
value,
30:54
but
30:54
they
30:54
also
30:55
provide
30:55
the
30:55
highest
30:56
level
30:56
of
30:56
differentiation
30:59
and
30:59
innovation
31:00
for
31:00
the
31:00
customers.
31:01
I
31:02
would
31:02
say
31:02
that
31:03
very
31:03
often
31:04
the
31:05
minimum
31:06
condition
31:06
is
31:07
to
31:07
provide
31:08
a
31:09
30%
31:09
to
31:09
40%
31:11
price
31:12
positioning
31:13
below
31:13
the
31:14
national
31:14
brand
31:14
equivalent
31:15
with
31:15
the
31:15
same
31:15
level
31:16
of
31:16
quality.
31:17
This
31:17
is
31:17
kind
31:17
of
31:17
the
31:18
traditional
31:18
positioning
31:19
of
31:19
national
31:19
brands,
31:20
but
31:20
the
31:20
most
31:20
successful
31:21
players
31:22
have
31:22
been
31:22
able
31:23
to
31:24
innovate
31:25
and
31:25
also
31:25
add
31:27
the
31:27
highest
31:27
level
31:27
of
31:28
differentiation,
31:29
innovation
31:30
through,
31:31
for
31:31
example,
31:32
unique
31:33
product
31:33
ranges,
31:34
unique
31:35
flavors,
31:36
unique
31:36
packaging,
31:38
or
31:38
capturing
31:39
specific
31:40
pocket
31:40
of
31:40
demands
31:41
that
31:41
are
31:41
not
31:41
normally
31:44
served
31:44
by
31:45
national
31:45
brands.
31:46
Think
31:47
about
31:47
retailers,
31:47
for
31:48
example,
31:48
that
31:48
developed
31:50
organic
31:50
ranges,
31:52
for
31:52
example,
31:53
365
31:54
from
31:54
Whole
31:54
Foods.
31:55
Or
31:55
think
31:55
about
31:56
retailers
31:57
that
31:57
have
31:57
been
31:57
able
31:57
to
31:58
develop
31:58
premium
31:59
ranges.
31:59
Think
31:59
about
31:59
private
32:00
selection
32:00
of
32:00
Kroger.
32:03
Got
32:03
it.
32:03
All
32:03
right,
32:04
Marco,
32:04
let's
32:04
get
32:04
you
32:04
out
32:05
of
32:05
here
32:05
on
32:05
this.
32:05
So,
32:06
for
32:06
the
32:06
average
32:06
C
32:06
suite
32:07
executive
32:07
listening
32:07
to
32:08
this
32:08
podcast,
32:09
what
32:10
should
32:10
they
32:10
do
32:11
to
32:11
accelerate
32:12
their
32:12
private
32:12
label
32:13
brand
32:13
growth?
32:15
Yeah,
32:16
that's
32:16
a
32:16
very
32:16
good
32:16
question,
32:17
Chris.
32:17
It
32:17
requires
32:18
quite
32:19
a
32:19
lot
32:19
of
32:19
focus
32:19
and
32:20
discipline.
32:20
Right.
32:21
I
32:21
think
32:21
the
32:22
most
32:23
important
32:24
aspect
32:24
of
32:25
this
32:25
is
32:26
to
32:26
build
32:27
the
32:27
commitment
32:27
throughout
32:28
the
32:28
leadership
32:29
team
32:29
within
32:29
the
32:29
organization.
32:31
You
32:31
know,
32:32
firstly,
32:33
at
32:34
the
32:34
chief
32:34
merchant
32:35
level,
32:35
chief
32:36
merchants
32:36
have
32:36
to
32:37
treat
32:37
private
32:38
brands
32:39
with
32:39
the
32:39
same
32:40
level
32:40
of
32:40
attention
32:40
to
32:41
detail
32:41
or
32:41
even
32:41
higher
32:42
that
32:42
they
32:42
use.
32:43
For
32:43
national
32:43
brands,
32:44
this
32:45
is
32:45
not
32:45
just
32:45
about
32:46
setting
32:46
up
32:46
targets,
32:47
but
32:47
it's
32:48
also
32:48
being
32:48
consistent
32:49
and
32:49
having
32:49
a
32:49
year
32:50
round
32:50
commitment
32:51
around,
32:51
for
32:52
example,
32:53
product
32:53
innovation
32:55
planograms,
32:56
promotions
32:57
and
32:57
so
32:57
on
32:57
and
32:57
so
32:57
forth.
32:58
You
32:58
need
32:59
to
32:59
have
32:59
strong
32:59
support
33:00
from
33:01
all
33:01
the
33:01
other
33:02
functions.
33:02
Think
33:03
about
33:03
supply
33:04
chain
33:04
to
33:04
ensure
33:05
availability
33:05
of
33:05
the
33:06
product,
33:06
procurement
33:07
to
33:08
kind
33:08
of
33:08
have
33:09
the
33:09
right
33:09
vendor
33:10
partnerships,
33:11
and
33:11
ultimately
33:12
the
33:12
execution
33:12
in
33:13
the
33:13
stores.
33:14
Marketing
33:15
has
33:15
to
33:15
be
33:15
highly
33:16
engaged
33:16
to
33:17
provide
33:17
focus
33:18
and
33:18
investment
33:19
to
33:19
the
33:19
development
33:20
of
33:20
the
33:20
brands.
33:22
Ultimately,
33:23
the
33:24
commitment
33:24
to
33:24
private
33:25
brands
33:26
have
33:26
to
33:26
start
33:26
at
33:26
the
33:27
CEO
33:27
and
33:27
CFO
33:28
levels
33:29
because
33:29
they
33:30
have
33:30
to
33:31
be
33:32
able
33:33
to
33:33
align
33:34
to
33:34
the
33:34
entire
33:34
leadership
33:35
team
33:35
of
33:35
the
33:35
organization
33:36
around
33:37
the
33:37
shared
33:37
goal
33:38
and
33:39
also
33:39
a
33:40
clear
33:40
set
33:40
of
33:40
KPI's
33:41
and
33:41
targets.
33:43
The
33:43
investments
33:44
have
33:44
to
33:44
be
33:46
measured
33:47
to
33:47
the
33:48
ambition
33:49
and
33:49
the
33:50
private
33:51
brand
33:51
teams
33:52
have
33:52
to
33:52
be
33:52
right
33:53
sized
33:54
and
33:54
at
33:54
the
33:54
same
33:54
time
33:55
empowered
33:56
to
33:56
drive
33:56
change.
33:58
You
33:58
need
33:58
the
33:58
dedicated
33:59
investments
34:00
in
34:00
branding,
34:01
in
34:01
marketing,
34:02
but
34:02
also
34:02
in,
34:03
for
34:03
example,
34:03
developing
34:05
production
34:06
capabilities
34:07
with
34:07
some
34:07
of
34:07
your
34:07
suppliers.
34:09
I
34:09
mean,
34:10
in
34:10
essence,
34:11
private
34:11
brand
34:12
development
34:12
today
34:13
is
34:14
more
34:14
an
34:14
imperative
34:15
than
34:16
an
34:16
option
34:16
for
34:17
many
34:17
grocers,
34:18
and
34:20
you
34:20
really
34:20
need
34:21
strong
34:21
commitment
34:21
from
34:22
your
34:22
entire
34:22
organization.
34:23
But
34:23
the
34:23
good
34:23
news
34:24
are
34:25
that
34:25
the
34:25
players
34:25
that
34:26
are
34:26
able
34:26
to
34:26
achieve
34:26
that
34:27
positioning
34:27
very
34:28
often
34:28
are
34:28
delivering
34:29
stronger
34:30
market
34:30
results
34:31
and
34:31
at
34:31
the
34:32
same
34:32
time,
34:32
strong
34:33
shareholder
34:33
results.
34:34
Thanks,
34:35
Marco.
34:35
Great.
34:35
Thank
34:35
you,
34:35
Marco.
34:36
And
34:36
remember,
34:37
if
34:37
you're
34:37
interested
34:37
in
34:37
reading
34:38
the
34:38
A
34:38
and
34:38
M
34:38
consumer
34:39
and
34:39
retail
34:39
group's
34:40
full
34:40
report
34:40
on
34:41
how
34:41
you
34:41
can
34:41
accelerate
34:42
your
34:42
private
34:42
label
34:43
brand
34:43
journey,
34:43
just
34:44
check
34:44
out
34:44
our
34:45
podcast
34:45
description
34:46
where
34:46
you'll
34:46
find
34:46
the
34:46
link.
34:47
Or
34:47
you
34:47
can
34:47
also
34:47
head
34:47
to
34:48
omnitalk.
34:48
Dot
34:48
blog.
34:52
Headline
34:53
number
34:53
four
34:53
giant
34:54
Eagle
34:54
wants
34:54
to
34:55
slash
34:55
delivery
34:56
times
34:57
delivery
34:57
wait
34:57
times,
34:58
to
34:58
be
34:58
specific,
34:58
according
34:59
to
34:59
Grocery
34:59
Dive,
35:00
Giant
35:00
Eagle
35:00
announced
35:00
Tuesday.
35:01
In
35:01
exchange
35:01
expanded
35:02
partnership
35:02
with
35:02
omnichannel
35:03
location
35:04
platform
35:04
Flyby
35:05
to
35:06
bolster
35:06
its
35:06
last
35:06
mile
35:07
delivery
35:07
service
35:07
and
35:08
cut
35:08
avoidable
35:09
delivery
35:09
driver
35:09
wait
35:10
times
35:10
by
35:10
at
35:10
least
35:11
half.
35:11
The
35:12
partnership
35:12
extends
35:13
the
35:13
technology
35:13
company's
35:14
location
35:14
based
35:15
service,
35:15
which
35:15
orchestrates
35:16
product
35:17
picking
35:17
in
35:17
line
35:17
with
35:18
the
35:18
driver's
35:18
distance
35:19
from
35:19
the
35:19
store
35:20
to
35:20
the
35:20
groceries
35:21
delivery
35:22
program.
35:22
Flyby's
35:23
AI
35:23
powered
35:24
location
35:24
technology
35:25
can
35:25
pinpoint
35:26
which
35:26
driver
35:26
is
35:27
arriving
35:27
for
35:27
specific
35:28
orders
35:29
and
35:29
send
35:29
alerts
35:30
to
35:30
its
35:30
main
35:30
dashboard
35:31
and
35:31
picking
35:32
app.
35:32
The
35:33
technology
35:33
has
35:33
reduced
35:34
wait
35:34
times
35:34
to
35:34
less
35:35
than
35:35
two
35:35
and
35:35
a
35:35
half
35:36
minutes
35:36
on
35:37
average.
35:37
Joe
35:37
that's
35:38
clock.
35:38
That's
35:38
a
35:38
clock
35:39
time.
35:39
Joe
35:39
what
35:40
do
35:40
you
35:40
think
35:40
of
35:40
giant
35:41
Eagles
35:41
investment?
35:42
What
35:42
do
35:42
you
35:42
think
35:42
giant
35:43
Eagles
35:43
investment
35:44
in
35:44
Flabey
35:45
says,
35:45
if
35:46
anything,
35:46
about
35:47
where
35:47
grocers
35:48
are
35:48
willing
35:48
to
35:48
invest
35:49
their
35:49
money.
35:52
I
35:52
have
35:52
a
35:52
couple
35:53
of
35:53
thoughts
35:53
on
35:54
the
35:54
Flyby
35:56
investment.
35:57
I
35:57
think
35:57
first
35:58
of
35:58
all,
35:58
it
35:58
underscores
35:59
that
35:59
for
35:59
a
36:00
lot
36:00
of
36:00
grocery
36:00
retailers,
36:01
in
36:01
store
36:01
fulfillment
36:02
is
36:02
still
36:02
super,
36:03
super
36:03
important.
36:03
I
36:04
mean,
36:04
I
36:04
think
36:04
it's
36:05
always
36:05
going
36:05
to
36:05
be
36:05
a
36:05
spectrum.
36:06
Some
36:07
in
36:07
store
36:07
fulfillment
36:07
will
36:07
be
36:08
the
36:08
most
36:09
economical
36:09
route,
36:10
some
36:10
micro
36:11
fulfillment
36:11
centers,
36:11
some
36:12
big,
36:12
big
36:12
hubs.
36:13
I
36:13
think
36:13
all
36:14
three
36:14
can
36:14
work
36:14
depending
36:15
on
36:15
the
36:15
situation,
36:16
but
36:16
I
36:16
think
36:16
it
36:16
does
36:16
underscore
36:19
that
36:19
in
36:19
store
36:20
pickers
36:20
and
36:20
delivery
36:21
from
36:21
local
36:22
stores
36:22
is
36:23
a
36:23
really
36:23
important
36:23
piece
36:24
here.
36:24
I
36:24
also
36:25
think
36:25
we're
36:25
in
36:25
an
36:25
era
36:26
where
36:26
kind
36:26
of
36:26
small
36:27
incremental
36:27
improvements
36:28
can
36:28
really
36:28
help
36:29
with
36:29
the
36:29
economics
36:29
of
36:30
grocery
36:30
delivery.
36:30
In
36:31
this
36:31
case,
36:32
a
36:32
small
36:32
savings
36:32
of
36:33
time
36:33
is
36:33
definitely,
36:34
definitely
36:34
translates
36:35
into
36:35
money.
36:36
And
36:37
as
36:37
we
36:37
were
36:37
talking
36:37
about
36:38
in
36:38
the
36:39
Walmart
36:39
segment
36:40
at
36:40
the
36:40
top,
36:41
small
36:41
improvements
36:41
in
36:42
customer
36:42
experience
36:43
also
36:43
probably
36:43
have
36:44
a
36:44
measurable
36:45
outcome
36:45
in
36:45
terms
36:45
of
36:46
really
36:46
cementing
36:47
that
36:47
grocery
36:47
e
36:48
commerce
36:48
shoppers
36:48
loyalty
36:49
and
36:49
keeping
36:50
them
36:50
coming
36:50
back.
36:50
So
36:51
I
36:51
think
36:51
there's
36:51
a
36:51
whole
36:52
bunch
36:52
of
36:52
different
36:52
benefits
36:53
that
36:53
giant
36:53
eagle
36:54
potentially
36:54
stands
36:54
to
36:54
gain
36:55
if
36:55
the
36:55
time
36:56
savings
36:56
that
36:56
it's
36:56
reporting
36:58
scale
36:58
and
36:59
continue.
37:00
And
37:01
what
37:01
would
37:01
you
37:01
add?
37:02
Yeah,
37:02
I
37:02
mean,
37:03
Joe
37:04
knows
37:04
we've
37:05
been
37:05
on
37:05
these
37:05
calls
37:06
at
37:06
shop
37:06
talk
37:07
fall.
37:07
I'm
37:07
going
37:07
to
37:07
be
37:07
doing
37:08
a
37:08
panel
37:08
where
37:08
we're
37:09
really
37:09
talking
37:09
about
37:10
how
37:10
retailers
37:11
can
37:11
better
37:11
unify
37:12
commerce
37:13
experiences
37:14
for
37:14
their
37:14
customers,
37:15
make
37:15
it
37:15
more
37:16
seamless.
37:16
And
37:17
while
37:18
it
37:18
seems
37:18
like
37:18
the
37:19
focus
37:19
then
37:19
of
37:20
these
37:20
technological
37:21
investments
37:21
would
37:21
be
37:21
on
37:22
the
37:22
consumer
37:22
side
37:22
of
37:23
things,
37:23
maybe
37:23
on
37:23
its
37:24
surface
37:24
it's
37:24
actually
37:25
showed
37:25
us
37:26
like
37:26
giant
37:26
Eagle
37:27
and
37:27
Flyby
37:27
here,
37:27
that
37:27
it's
37:28
more
37:28
investments
37:29
in
37:29
operational
37:30
technology.
37:31
It's
37:31
figuring
37:31
out
37:32
ways
37:32
to
37:33
get
37:33
things
37:34
running
37:34
as
37:34
efficiently
37:35
as
37:35
possible.
37:36
And
37:36
this
37:36
is
37:36
for,
37:37
in
37:37
this
37:37
case
37:37
for
37:37
delivery
37:38
drivers.
37:38
I
37:39
mean,
37:39
you
37:39
have
37:39
better
37:40
store
37:40
operation
37:40
visibility
37:41
then
37:41
too,
37:42
if
37:42
you
37:42
know
37:42
where
37:42
these
37:43
drivers
37:43
are
37:43
and
37:43
what
37:44
their
37:44
load
37:45
is
37:45
that
37:45
they're
37:45
taking
37:46
already.
37:46
And
37:47
then
37:47
in
37:47
addition
37:47
to
37:48
faster
37:48
delivery
37:49
speeds,
37:49
I
37:49
think
37:49
it
37:49
should
37:49
be
37:50
able
37:50
to
37:50
also
37:50
provide
37:51
them
37:51
with
37:51
more
37:52
transparency
37:52
for
37:52
the
37:53
customers
37:53
too,
37:53
of
37:54
like
37:54
actually
37:54
here,
37:55
you
37:55
know,
37:55
yes,
37:55
we're
37:56
doing
37:56
a
37:56
two
37:56
hour
37:56
delivery,
37:57
but
37:57
this
37:58
guy
37:58
is
37:58
going
37:58
to
37:58
be
37:58
there
37:59
faster
37:59
than
37:59
2
37:59
hours
38:00
or
38:00
this
38:00
might
38:00
be
38:00
a
38:01
little
38:01
bit
38:01
longer
38:01
than
38:01
2
38:01
hours,
38:02
but
38:02
just
38:02
gives
38:02
that
38:02
visibility
38:03
to
38:03
the
38:03
customer
38:04
so
38:04
that
38:05
they
38:05
know
38:05
what
38:05
to
38:05
expect,
38:06
which
38:06
I
38:06
think
38:07
that
38:07
is
38:07
how
38:07
you're
38:08
really
38:08
paying
38:08
off
38:09
a
38:09
better,
38:10
more
38:10
unified
38:10
commerce
38:11
experience
38:11
for
38:11
customers.
38:12
Again,
38:12
investing
38:13
in
38:13
the
38:13
technology
38:14
like
38:14
Giant
38:14
Eagle
38:15
is
38:15
with
38:15
flyby
38:15
to
38:16
make
38:16
sure
38:16
that
38:17
your
38:18
operations
38:18
are
38:19
running
38:19
smoothly
38:20
and
38:20
that's
38:21
what
38:21
provides
38:22
that
38:22
key
38:22
customer
38:23
experience.
38:24
Yeah,
38:24
I
38:25
agree
38:25
with
38:25
both
38:25
of
38:25
you
38:25
and
38:26
I
38:26
don't
38:26
have
38:26
a
38:26
ton
38:26
to
38:26
add
38:26
here,
38:27
but
38:27
I
38:27
think
38:27
this
38:27
headline
38:28
is
38:28
just
38:28
further
38:28
proof,
38:29
especially
38:29
when
38:30
we
38:30
look
38:30
at
38:30
the
38:30
headlines
38:30
over
38:30
the
38:30
last
38:31
week,
38:31
how
38:31
Walmart
38:32
and
38:32
Amazon
38:32
dominated
38:33
the
38:33
headlines.
38:33
And
38:33
then
38:34
this
38:34
is
38:34
one
38:34
that
38:34
cracks
38:34
the
38:35
code
38:35
here.
38:36
To
38:36
me,
38:36
when
38:36
I
38:36
step
38:37
back
38:37
in
38:37
preparing
38:37
for
38:38
grocery
38:38
shop
38:38
for
38:38
my
38:38
interviews
38:39
too
38:39
that
38:39
I'm
38:39
doing
38:39
on
38:39
stage
38:40
next
38:40
week,
38:41
it
38:41
just
38:41
goes
38:42
back
38:42
to
38:42
the
38:42
adage
38:42
and
38:42
show
38:43
me
38:43
the
38:43
money,
38:43
right?
38:44
That
38:44
seems
38:44
like
38:44
grocers
38:45
are
38:45
investing
38:45
in
38:45
either
38:46
back
38:46
end
38:46
operations
38:47
or
38:47
retail
38:48
media.
38:48
Anything
38:49
else
38:49
just
38:50
isn't
38:50
going
38:50
to
38:50
get
38:50
past
38:51
the
38:51
budget
38:51
committees
38:51
and
38:52
smartly
38:52
so.
38:52
And
38:52
that's
38:53
why
38:53
I
38:53
think
38:53
the
38:53
grocery
38:54
industry
38:54
has
38:54
been
38:55
relatively
38:56
more
38:56
innovative.
38:57
The
38:57
more
38:57
innovative
38:58
sector
38:58
of
38:59
has
38:59
been
38:59
the
38:59
relatively
39:00
more
39:00
innovative
39:00
sector
39:01
of
39:01
retail
39:01
than
39:02
say
39:02
other
39:03
verticals.
39:04
And
39:05
because,
39:05
you
39:05
know,
39:05
sometimes
39:06
we
39:06
get
39:06
so
39:06
distracted
39:07
by
39:07
the
39:07
shiny
39:07
penny
39:08
on
39:08
the
39:08
ground
39:08
that
39:08
we
39:08
want
39:09
to
39:09
pick
39:09
it
39:09
up
39:09
of
39:09
all
39:10
the
39:10
consumer
39:10
experiences,
39:11
bit
39:11
tech
39:12
and
39:12
everything.
39:12
But
39:12
at
39:12
the
39:12
end
39:12
of
39:12
the
39:13
day,
39:13
the
39:13
smart
39:13
money
39:14
is
39:14
still
39:14
going
39:14
to
39:15
the
39:15
backend
39:15
operations
39:16
and
39:17
particularly
39:17
for
39:17
grocery
39:17
retail
39:18
media
39:18
as
39:18
well.
39:20
All
39:20
right,
39:20
let's
39:21
go
39:21
on
39:21
to
39:21
headline
39:21
number
39:22
five.
39:22
Klarna
39:23
is
39:23
partnering
39:24
with
39:24
Adian
39:25
to
39:25
bring
39:25
buy
39:25
now,
39:26
pay
39:26
later
39:26
into
39:27
physical
39:27
stores.
39:28
According
39:28
to
39:28
CNBC,
39:29
Klarna
39:29
said
39:30
Thursday
39:30
that
39:30
it
39:30
had
39:31
entered
39:31
into
39:31
an
39:31
agreement
39:32
with
39:32
Adyen
39:32
to
39:33
add
39:33
its
39:33
buy
39:34
now,
39:34
pay
39:34
later
39:35
products
39:35
to
39:36
physical
39:36
payment
39:37
terminals.
39:37
Klarna
39:38
will
39:38
be
39:38
included
39:38
as
39:39
an
39:39
option
39:39
across
39:39
more
39:40
than
39:40
450,000
39:41
adyen
39:41
payment
39:42
terminals
39:42
in
39:42
brick
39:43
and
39:43
mortar
39:43
locations.
39:44
As
39:44
a
39:44
result
39:45
of
39:45
the
39:45
deal,
39:46
the
39:46
partnership
39:46
will
39:47
initially
39:47
launch
39:47
in
39:47
Europe,
39:48
North
39:48
America
39:48
and
39:49
Australia
39:49
with
39:49
a
39:50
wider
39:50
rollout
39:51
planned
39:51
later
39:51
down
39:52
the
39:52
line.
39:53
Joe,
39:53
let's
39:54
go
39:54
to
39:54
you
39:54
first.
39:55
What
39:55
are
39:55
your
39:55
thoughts
39:56
here
39:56
on
39:56
buy
39:57
now,
39:57
pay
39:57
later
39:57
coming
39:58
in
39:58
store?
39:58
And
39:59
what
39:59
does
39:59
that
39:59
mean
39:59
for
39:59
the
40:00
future
40:00
of
40:00
retail?
40:01
Yeah,
40:02
it's
40:02
been
40:02
a
40:03
slow
40:03
roll
40:03
with
40:04
by
40:04
now,
40:04
pay
40:04
later,
40:05
making
40:05
the
40:05
transition
40:05
from
40:06
the
40:06
e
40:06
comm
40:06
checkout
40:07
experience
40:07
to
40:07
the
40:08
physical
40:08
store
40:08
POS
40:09
experience.
40:09
But
40:10
I
40:10
saw
40:10
a
40:10
stat
40:11
recently
40:12
that
40:12
said
40:12
something
40:12
like,
40:13
I
40:13
don't
40:13
know,
40:13
15%
40:13
to
40:14
20%
40:14
of
40:15
retailers
40:15
already
40:16
do
40:17
some
40:17
sort
40:17
of
40:17
BNPL
40:18
in
40:19
stores.
40:19
So
40:19
again,
40:20
that's
40:20
definitely
40:20
a
40:21
small
40:21
percentage
40:21
overall.
40:23
I
40:24
think
40:24
what
40:24
I'm
40:24
looking
40:24
for
40:25
here
40:25
is
40:25
it's
40:25
going
40:25
to
40:25
be
40:25
really
40:25
interesting
40:26
to
40:26
see
40:26
which
40:27
retailers
40:28
take
40:28
Klarna
40:29
and
40:29
Adion
40:29
up
40:30
on
40:30
this
40:30
offer
40:31
and
40:31
just
40:31
how
40:31
it
40:32
gets
40:32
communicated
40:32
in
40:33
stores.
40:33
Right.
40:33
I
40:33
mean,
40:34
I'm
40:34
used
40:34
to,
40:34
we're
40:35
all
40:35
maybe
40:35
used
40:35
to
40:35
the
40:35
department,
40:36
department
40:36
store
40:36
experience
40:36
with
40:36
the
40:37
little
40:37
thing
40:37
about
40:38
save
40:38
20%
40:38
if
40:38
you
40:39
sign
40:39
up
40:39
for
40:39
our
40:39
store
40:39
credit
40:40
card
40:40
at
40:41
pos.
40:41
But
40:42
will
40:42
it
40:42
be
40:42
giant
40:43
signs
40:43
saying
40:44
pay
40:44
in
40:44
for
40:44
throughout
40:45
the
40:45
stores
40:45
that
40:45
adopt
40:46
this?
40:46
Or
40:46
will
40:46
it
40:46
be
40:47
more
40:48
subtle
40:48
and
40:48
kind
40:48
of
40:49
if,
40:49
you
40:49
know,
40:49
you
40:49
know,
40:50
just
40:50
a
40:50
little
40:50
Karna
40:51
branding
40:51
for
40:52
those
40:52
shoppers
40:53
who
40:53
already
40:53
are
40:54
kind
40:54
of
40:55
working
40:55
with
40:56
the
40:56
brand?
40:57
But
40:57
I
40:57
mean,
40:57
I
40:58
think
40:58
payment
40:58
flexibility
40:59
for
40:59
shoppers
40:59
is
41:00
a
41:00
good
41:00
thing.
41:01
I
41:01
think,
41:02
you
41:02
know,
41:02
it
41:02
kind
41:03
of
41:03
adds
41:03
to
41:03
the
41:04
set
41:04
of
41:04
choices
41:05
that
41:05
somebody
41:06
has
41:06
while
41:06
they're
41:06
waiting
41:07
to
41:07
pay.
41:07
And
41:08
for
41:08
some
41:08
shoppers,
41:09
that'll
41:09
probably
41:09
be
41:09
a
41:09
good
41:09
thing.
41:09
And
41:10
for
41:10
a
41:10
lot
41:10
of
41:10
shoppers,
41:11
they'll
41:11
just
41:12
keep
41:12
breaking
41:13
out
41:13
their
41:13
credit
41:13
card
41:13
or
41:13
debit
41:14
card
41:14
or
41:14
maybe
41:14
even
41:15
cash
41:15
as
41:15
they
41:15
always
41:16
did.
41:16
Yeah,
41:17
I
41:17
mean,
41:17
Joe,
41:17
I
41:17
think
41:17
that
41:18
you
41:18
bring
41:18
up
41:18
an
41:18
important
41:18
point,
41:19
and
41:19
I
41:20
actually
41:21
found
41:21
some
41:21
research.
41:22
So
41:22
Marnie
41:22
Shapiro,
41:23
she's
41:23
the
41:23
vice
41:23
president
41:24
of
41:24
global
41:24
advertising
41:25
and
41:25
affiliate
41:25
partnerships
41:26
at
41:26
Afterpay,
41:27
they
41:28
did
41:28
a
41:28
study,
41:28
and
41:28
they
41:29
found
41:29
that
41:29
Gen
41:29
Z
41:29
is
41:30
actually
41:30
more
41:31
likely
41:31
to
41:31
use
41:32
buy
41:32
now,
41:32
pay
41:32
later
41:32
than
41:33
they
41:33
are
41:33
credit
41:33
cards.
41:34
So
41:34
I
41:34
think
41:35
you're
41:35
right
41:35
in.
41:35
You
41:36
know,
41:36
how
41:36
are
41:36
they
41:36
going
41:36
to
41:36
message
41:37
this
41:37
at
41:37
checkout?
41:38
And
41:38
how
41:38
are
41:38
they
41:39
going
41:39
to
41:39
bring
41:39
in
41:40
that
41:40
next
41:40
generation
41:40
of
41:41
shopper?
41:41
Because
41:41
they're
41:42
offering
41:42
something
41:42
like
41:43
this,
41:43
especially
41:44
as
41:44
Gen
41:45
Z
41:45
is
41:45
also
41:46
going
41:46
to
41:46
be
41:46
the
41:46
highest
41:47
paid
41:47
spending
41:47
power.
41:48
They
41:48
will
41:49
have
41:49
the
41:49
highest
41:49
paid
41:49
spending
41:50
power
41:50
in
41:51
human
41:51
history.
41:52
And
41:52
by
41:53
2030.
41:54
So
41:54
just
41:55
five,
41:55
a
41:56
little
41:56
over
41:56
five
41:56
years
41:56
from
41:57
now,
41:57
once
41:58
that
41:58
Gen
41:58
Z
41:59
generation
42:00
has
42:00
really
42:00
come
42:00
into
42:00
the
42:01
workforce,
42:01
they
42:01
will
42:01
account
42:02
for
42:02
almost
42:02
half
42:02
of
42:03
total
42:03
spending.
42:03
So
42:03
I
42:03
think
42:04
when
42:04
you
42:04
look
42:04
at
42:04
what
42:05
Adian
42:05
and
42:05
Klarna
42:05
are
42:06
doing
42:06
here
42:06
and
42:07
how
42:07
they're
42:07
setting
42:07
themselves
42:08
up
42:08
for
42:08
success
42:08
in
42:08
the
42:09
future,
42:10
you
42:11
got
42:11
to
42:11
follow
42:11
the
42:11
money,
42:12
as
42:12
Chris
42:12
would
42:12
say.
42:13
And
42:14
I
42:14
think
42:14
this
42:14
move
42:14
is
42:14
setting
42:15
retailers
42:15
up
42:15
to
42:16
do
42:16
just
42:16
that.
42:17
But,
42:18
Chris,
42:18
I'll
42:18
let
42:18
you.
42:19
Oh,
42:19
go
42:19
ahead,
42:19
Joe.
42:20
Yeah,
42:20
jump
42:20
in.
42:21
I
42:21
think
42:22
another
42:23
way
42:23
of
42:23
looking
42:23
at
42:24
it
42:24
is
42:25
that
42:25
sort
42:25
of
42:25
next
42:26
generation
42:26
of
42:26
omnichannel
42:27
or
42:27
unified
42:28
commerce
42:28
story
42:29
that
42:29
everybody
42:30
is
42:30
talking
42:30
about
42:31
these
42:31
days,
42:31
about
42:31
just
42:32
making
42:32
the
42:32
customer
42:32
experience
42:33
when
42:33
you're
42:33
in
42:33
a
42:34
store
42:34
as
42:34
consistent
42:35
with
42:35
online
42:36
as
42:36
possible.
42:37
Great
42:37
point.
42:38
Retailers
42:38
being
42:39
excited
42:39
about
42:40
this
42:40
or
42:40
interested
42:40
in
42:40
this,
42:41
because
42:41
it
42:41
is
42:41
another
42:41
way
42:42
to
42:42
make
42:42
those
42:43
two
42:43
experiences
42:43
consistent
42:44
and
42:44
to
42:44
be
42:44
able
42:44
to
42:44
say
42:45
to
42:45
somebody
42:45
who
42:45
shops
42:46
your
42:46
brand
42:47
online,
42:47
oh,
42:48
you
42:48
can
42:48
now
42:48
use
42:48
the
42:48
same
42:49
payment
42:49
method
42:49
that
42:49
you
42:49
like
42:50
when
42:50
you
42:50
come
42:50
visit
42:50
us
42:51
in
42:51
stores.
42:51
So
42:51
I
42:52
think
42:52
it
42:52
kind
42:52
of
42:52
helps
42:53
with
42:53
that
42:53
unification
42:54
of
42:54
the
42:54
two
42:55
sides.
42:55
That's
42:56
such
42:56
a
42:56
great
42:56
point,
42:56
Joe.
42:57
Yeah.
42:57
I
42:57
mean,
42:58
I
42:58
had
42:58
not
42:58
even
42:59
thought
42:59
about
42:59
that
42:59
until
43:00
you
43:00
just
43:00
said
43:00
that.
43:00
But,
43:00
yeah,
43:00
it's
43:01
totally,
43:02
you're
43:02
totally,
43:02
like,
43:03
leaving
43:03
consumers,
43:03
consumers
43:04
right
43:04
now
43:04
in,
43:05
in
43:05
kind
43:05
of
43:05
the
43:05
lurch
43:06
potentially
43:06
when
43:06
they're
43:07
in
43:07
store,
43:07
when
43:08
you
43:08
want
43:08
them
43:08
to
43:08
have
43:09
the
43:09
most
43:09
seamless
43:09
shopping
43:10
experience
43:10
possible,
43:11
and,
43:12
you
43:12
know,
43:12
then
43:13
you're
43:13
making
43:13
them
43:13
go
43:14
online
43:14
to
43:14
order
43:14
something
43:15
so
43:15
that
43:15
they
43:15
can
43:15
get
43:16
installment
43:16
financing
43:17
like
43:17
that.
43:17
That's
43:17
a
43:18
very
43:18
disjointed
43:19
experience
43:20
if
43:20
that's,
43:21
if
43:21
that's
43:21
where
43:22
these
43:22
retailers
43:23
are
43:23
at.
43:23
But,
43:23
Chris,
43:23
I'll
43:24
give
43:24
you
43:24
the
43:24
last
43:24
word
43:24
here.
43:25
Yeah,
43:25
I
43:26
mean,
43:26
I
43:26
got
43:26
a
43:26
couple
43:27
thoughts
43:27
here.
43:27
Like,
43:27
actually,
43:27
this,
43:28
one
43:28
of
43:28
the
43:28
reasons
43:28
I
43:29
loved
43:29
one
43:29
of
43:29
this
43:29
is
43:30
this,
43:30
this
43:31
topic
43:31
is
43:31
one
43:31
of
43:31
the
43:31
reasons
43:32
I
43:32
love
43:32
doing
43:32
this
43:32
show
43:33
because
43:33
Joe
43:33
particularly
43:34
made
43:34
me
43:34
think
43:34
of
43:34
something
43:34
that
43:35
I
43:35
never
43:35
thought
43:35
about.
43:35
Like
43:36
why
43:36
haven't
43:36
we
43:36
seen
43:37
a
43:37
retailer,
43:38
you
43:38
know,
43:38
brand
43:39
its
43:39
own
43:39
BNPL
43:40
service
43:40
in
43:40
partnership
43:40
with
43:41
one
43:41
of
43:41
these
43:41
companies?
43:41
Like,
43:42
right.
43:42
Why
43:42
isn't
43:43
that
43:43
included
43:43
in
43:43
the
43:44
e
43:44
commerce
43:44
checkout?
43:44
And
43:45
why
43:45
aren't
43:45
they
43:45
bringing
43:46
that
43:46
in
43:46
store?
43:47
And
43:47
you
43:47
have
43:47
to
43:48
think
43:48
that's
43:48
probably
43:48
going
43:48
to
43:49
happen
43:49
at
43:49
some
43:49
time,
43:50
at
43:50
some
43:50
point,
43:50
if
43:50
you
43:50
look
43:51
at
43:51
the
43:51
history
43:51
of
43:52
retail
43:52
for
43:52
the
43:52
past
43:53
30
43:53
or
43:53
40
43:53
years,
43:54
because
43:54
that's
43:54
already
43:54
happened
43:55
via
43:55
credit
43:55
Cardinal.
43:56
So
43:56
that's
43:57
an
43:57
interesting
43:57
topic
43:57
that
43:57
I've
43:58
never,
43:58
ever
43:58
given
43:59
headspace
43:59
before.
44:00
So
44:00
thank
44:00
you
44:00
for
44:00
that,
44:01
Joe.
44:02
Well
44:02
done,
44:02
my
44:03
friend.
44:04
But
44:04
the
44:04
other
44:04
point
44:04
I'd
44:05
make
44:05
is
44:06
I
44:06
actually
44:06
think
44:06
this
44:07
headline
44:07
is
44:08
in
44:08
the
44:08
running
44:08
for
44:09
retail
44:09
headline
44:09
of
44:10
the
44:10
year.
44:10
When
44:10
you
44:10
think
44:10
about
44:11
it
44:11
in
44:11
terms
44:11
of
44:12
the
44:12
overall
44:13
long
44:13
term
44:13
impact
44:14
that
44:14
this
44:14
is
44:14
going
44:14
to
44:15
have
44:15
on
44:15
changing
44:16
consumer
44:16
behavior
44:17
and
44:17
how
44:17
we
44:18
shop
44:18
a
44:18
retail
44:19
store.
44:19
And
44:19
the
44:20
number
44:20
I
44:20
would,
44:21
the
44:21
statistic,
44:21
I
44:22
would
44:22
point
44:22
out
44:22
from
44:22
the
44:22
article
44:23
that
44:23
I
44:23
think
44:23
keys
44:24
into
44:24
that
44:24
is
44:25
5%.
44:26
5%
44:27
is
44:27
the
44:27
number
44:27
I
44:28
want
44:28
people
44:28
to
44:28
remember,
44:28
because
44:29
that
44:29
is
44:29
the
44:29
percentage
44:30
of
44:31
all
44:31
e
44:31
commerce
44:32
transactions
44:33
that
44:33
the
44:33
CNBC
44:34
article
44:34
reports
44:35
comes
44:35
via
44:36
Klarna's
44:37
BNPL
44:37
service.
44:38
5%.
44:39
Okay.
44:40
5%
44:41
of
44:41
all
44:41
e
44:41
commerce
44:42
transactions
44:42
are
44:42
coming
44:42
from
44:43
Klarna's
44:43
BMPL
44:44
service.
44:45
That's
44:45
a
44:45
pretty
44:45
big
44:46
number
44:46
on
44:46
its
44:46
own.
44:47
And
44:47
remember,
44:47
e
44:47
commerce,
44:48
what,
44:48
20%
44:48
of
44:49
all
44:49
retail
44:49
sales?
44:49
So
44:50
5%
44:50
of
44:50
20%
44:51
is
44:51
already
44:51
pretty
44:52
big.
44:52
But
44:53
what's
44:53
bigger
44:53
is
44:54
x
44:54
percent
44:55
of
44:55
the
44:55
80%
44:56
that's
44:56
still
44:56
out
44:56
there
44:57
in
44:57
physical
44:57
retail.
44:58
And
44:58
it's
44:59
going
44:59
to
44:59
come
45:00
at
45:00
some
45:01
point,
45:01
because
45:01
BNPL
45:02
expands
45:03
people's
45:03
wallets
45:04
and
45:04
gives
45:04
them
45:04
the
45:04
ability
45:05
to
45:05
pay
45:05
on
45:05
interest
45:05
free
45:06
installments.
45:06
There's
45:06
no
45:07
reason
45:07
not
45:07
to
45:07
use
45:08
it
45:08
relative
45:08
to
45:08
a
45:09
credit
45:09
card,
45:09
if
45:09
you
45:09
can.
45:10
So
45:10
therefore,
45:11
it's
45:11
a
45:11
huge,
45:12
huge
45:13
move
45:13
from
45:13
both
45:14
Karna
45:14
and
45:14
Adian
45:15
that
45:15
we're
45:15
going
45:15
to
45:15
see
45:15
play
45:16
dividends
45:17
over
45:17
time.
45:18
Oh,
45:18
yeah,
45:18
Chris,
45:19
like,
45:19
you
45:19
got
45:19
me
45:20
thinking.
45:20
Remember
45:20
when
45:21
we
45:21
talked
45:21
to
45:21
Alvier
45:21
about
45:22
this
45:22
kind
45:22
of
45:22
concept,
45:23
too?
45:23
About,
45:24
like,
45:24
there
45:25
is
45:25
so
45:25
much
45:25
opportunity
45:26
here.
45:28
Yeah,
45:28
you're
45:28
right.
45:29
The
45:29
retailers
45:29
having
45:30
their
45:30
own
45:30
buy
45:30
now,
45:30
pay
45:30
later
45:31
program
45:31
with
45:31
the.
45:32
With
45:32
a
45:32
provider
45:33
like
45:33
Klarna
45:33
or
45:34
somebody
45:34
else
45:34
like
45:34
that.
45:35
That
45:36
in
45:36
itself
45:37
is
45:37
another
45:37
huge
45:37
area
45:38
of
45:38
opportunity
45:38
when
45:38
we're
45:38
going
45:39
to
45:39
see
45:39
so
45:39
much
45:39
growth
45:40
in
45:40
this.
45:40
Yeah,
45:41
and
45:41
I
45:41
don't
45:41
understand
45:41
the
45:41
payment
45:42
space
45:42
that.
45:42
Well,
45:42
that's
45:43
never
45:43
a
45:43
segment
45:43
of
45:43
retail
45:44
that
45:44
I
45:44
got
45:44
that
45:44
exposed
45:45
to.
45:45
But
45:45
you
45:45
have
45:46
to
45:46
wonder
45:46
what.
45:46
What's
45:47
holding
45:47
that
45:47
up?
45:47
Is
45:47
it
45:48
just
45:48
the
45:48
traditional,
45:49
like,
45:49
retailers
45:49
are
45:49
scared
45:50
to
45:50
try
45:50
things
45:50
new?
45:51
Try
45:51
new
45:51
things?
45:52
Excuse
45:52
me.
45:52
Or,
45:53
you
45:53
know,
45:53
or
45:53
is
45:54
there
45:54
some
45:54
other,
45:54
you
45:54
know,
45:54
mechanical
45:55
thing
45:55
that
45:55
holds
45:55
it
45:56
up
45:56
with
45:56
how
45:56
payments
45:56
are
45:57
conducted?
45:57
But
45:57
anyone
45:57
out
45:58
there
45:58
that
45:58
knows,
45:58
please,
45:59
let
45:59
us
45:59
chime
45:59
in
46:00
and
46:00
let
46:00
us
46:00
know
46:00
your
46:00
thoughts.
46:01
All
46:02
right,
46:02
let's
46:02
move
46:02
on
46:02
to
46:03
the
46:03
lightning
46:03
round,
46:03
you
46:04
two.
46:05
Joe,
46:05
you
46:06
get
46:06
all
46:06
the
46:06
questions
46:07
today.
46:07
Since
46:07
you're
46:07
our
46:08
special
46:08
guest,
46:09
we're
46:09
going
46:10
to
46:10
hit
46:10
you
46:10
with
46:11
question
46:11
number
46:11
one
46:12
first.
46:13
Meta's
46:13
Mark
46:13
Zuckerberg
46:14
just
46:14
announced
46:15
new
46:15
AR
46:15
glasses
46:16
in
46:16
partnership
46:17
with
46:17
Ray
46:17
ban
46:17
that
46:17
will
46:18
retail
46:18
at
46:18
$299.
46:20
What
46:20
are
46:20
your
46:20
thoughts
46:21
on
46:21
the
46:21
success
46:21
of
46:22
this
46:22
product,
46:22
Joe?
46:23
Will
46:23
they
46:23
make
46:23
you
46:23
Runway
46:24
ready,
46:24
or
46:25
should
46:25
people
46:25
run
46:26
away?
46:28
That
46:28
really
46:28
does
46:28
put
46:29
me
46:29
on
46:29
the
46:29
spot
46:30
if
46:30
I
46:30
have
46:30
to
46:30
pick
46:31
one
46:31
or
46:31
the
46:31
other.
46:31
But
46:31
I
46:31
guess
46:33
it
46:34
feels
46:34
weird
46:34
to
46:34
say
46:35
this
46:35
about
46:35
an
46:36
AR
46:36
product,
46:36
but
46:36
Runway
46:37
ready
46:37
would
46:38
be
46:39
my
46:39
take
46:39
on
46:39
it.
46:40
Cool.
46:41
Two
46:42
problems
46:42
with
46:42
augmented
46:43
reality.
46:43
Virtual
46:44
reality
46:44
things.
46:45
That
46:45
one,
46:45
they
46:45
make
46:46
you
46:46
look
46:46
like
46:46
a
46:46
doofus.
46:47
And
46:47
two,
46:47
there's
46:48
not
46:48
really
46:48
anything
46:49
to
46:49
do
46:49
with
46:49
them.
46:49
And
46:50
I
46:50
really
46:50
think
46:51
this
46:51
may
46:51
be
46:51
the
46:51
first
46:52
product
46:52
I've
46:52
seen
46:52
that
46:53
solved
46:53
that
46:53
first
46:54
problem.
46:54
You
46:54
don't
46:54
look
46:54
like
46:54
a
46:55
doofus
46:55
when
46:55
you're
46:55
wearing
46:55
them.
46:56
So
46:56
the
46:56
bigger
46:56
question
46:57
is,
46:57
like,
46:57
once
46:58
people
46:58
have
46:58
them,
46:58
will
46:59
there
46:59
be
46:59
cool
47:00
things
47:00
that
47:00
they
47:00
can
47:00
do
47:00
or
47:00
useful
47:01
things
47:01
that
47:01
they
47:01
can,
47:02
they
47:02
can
47:02
do
47:02
with
47:02
them?
47:03
The
47:03
answer
47:03
on
47:03
that
47:03
is
47:04
maybe,
47:05
but
47:05
at
47:05
least
47:06
you
47:06
won't
47:06
look
47:06
like
47:06
a
47:06
doofus
47:07
when
47:07
you
47:07
wear
47:07
them.
47:07
Thanks
47:08
for
47:08
bringing
47:08
doofus
47:09
back
47:09
into
47:09
our
47:10
vocabulary,
47:11
Joe.
47:11
Good
47:12
word
47:12
for
47:12
the
47:12
lexicon,
47:13
or
47:13
at
47:13
least
47:13
for
47:14
me.
47:14
They'll
47:14
make
47:14
me
47:14
look
47:14
more
47:15
like
47:15
a
47:15
doofus.
47:15
Joe
47:16
is
47:16
what
47:16
I
47:16
would
47:16
say,
47:16
probably.
47:17
All
47:17
right,
47:18
target
47:18
released
47:18
a
47:18
new
47:19
sneaker
47:19
that,
47:19
that
47:20
will
47:20
reportedly
47:21
grow
47:22
with
47:22
you.
47:23
Grow,
47:23
sorry.
47:23
Yes,
47:24
grow
47:24
with
47:24
you.
47:24
And.
47:24
That's
47:25
right,
47:25
grow
47:25
with
47:25
you
47:26
as
47:26
your
47:26
feet
47:27
get
47:27
larger.
47:28
Aside
47:28
from
47:28
footwear.
47:29
Footwear.
47:30
Having
47:31
trouble
47:31
today?
47:32
Aside
47:32
from
47:32
footwear,
47:33
Joe,
47:34
what
47:34
other
47:35
clothing
47:36
item
47:36
would
47:36
you
47:37
most
47:37
want
47:37
to
47:38
grow
47:38
with
47:38
you?
47:40
I
47:40
don't
47:40
know.
47:40
I
47:41
feel
47:41
like
47:41
we
47:41
live
47:41
in
47:41
an
47:41
era
47:42
of
47:42
that.
47:42
Right.
47:42
I
47:42
mean,
47:42
they
47:42
already
47:43
make
47:43
men's
47:43
trousers
47:44
with
47:44
enough
47:44
elastic
47:45
in
47:45
the
47:45
waistband
47:46
that
47:46
those
47:46
grow
47:47
with
47:47
you.
47:47
A
47:47
little
47:47
bit
47:47
of
47:48
hats
47:49
have
47:49
adjustable
47:50
brims.
47:50
Not
47:50
that
47:50
my
47:51
head
47:51
has
47:51
really
47:51
changed
47:51
size.
47:52
Great
47:52
point.
47:52
Great
47:53
point
47:53
in
47:53
the
47:53
last
47:54
couple
47:54
of
47:54
years.
47:54
But
47:55
I
47:56
think
47:56
it's
47:56
such
47:57
an
47:57
interesting
47:57
thing.
47:58
I
47:58
mean,
47:58
feet
47:59
are
47:59
very
47:59
delicate
48:00
objects,
48:01
and
48:01
who
48:02
knows
48:02
how
48:03
well
48:03
these
48:03
growing
48:04
shoes
48:05
will
48:06
actually
48:06
work.
48:07
But
48:07
the
48:08
thing
48:08
in
48:08
that
48:08
news
48:09
piece
48:09
that
48:09
really
48:09
got
48:09
me
48:09
was
48:10
about
48:11
people
48:11
whose
48:11
feet
48:11
just
48:11
happen
48:12
to
48:12
be
48:12
two
48:12
different
48:12
sizes,
48:13
so
48:13
they
48:13
have
48:13
to
48:13
buy
48:14
two
48:14
pairs
48:14
of
48:14
shoes
48:14
when
48:14
they
48:15
buy
48:15
shoes.
48:16
And
48:16
even
48:16
that
48:17
just
48:17
feels
48:17
like
48:17
it's
48:17
going
48:17
to
48:17
make
48:18
their
48:18
lives
48:18
a
48:18
lot
48:19
better
48:19
if
48:20
these
48:20
things
48:20
work
48:20
as
48:20
promised.
48:22
So
48:23
did
48:23
you
48:23
give
48:23
an
48:23
answer,
48:24
Joel?
48:24
I'm
48:24
not
48:24
sure
48:24
you
48:24
did.
48:26
I
48:26
may
48:26
have
48:26
just
48:27
skipped
48:27
over
48:28
that,
48:28
because
48:28
I'm
48:29
honestly,
48:29
nothing
48:30
on
48:30
me
48:30
is
48:30
really
48:31
changed
48:31
size.
48:32
Thankfully,
48:33
I'm
48:33
shrinking,
48:34
actually.
48:34
So
48:34
maybe
48:35
my
48:35
answer
48:36
is
48:37
shirts
48:37
and
48:37
jackets
48:38
that
48:38
can
48:38
get
48:39
smaller
48:39
with
48:39
me
48:40
as
48:40
I
48:40
get
48:40
older
48:40
and
48:41
therefore
48:41
shrink.
48:42
Oh,
48:42
my
48:42
God.
48:44
The
48:45
opposite
48:45
of,
48:45
like,
48:45
the
48:46
kids.
48:46
Jackets
48:46
that
48:47
expand,
48:47
you
48:47
know,
48:48
like,
48:48
Joe
48:49
just
48:49
wants
48:49
them
48:49
to
48:49
retract.
48:50
We
48:50
would
48:50
like
48:51
to
48:51
retract.
48:52
I
48:52
was
48:53
five
48:53
years
48:54
ago,
48:54
and
48:54
now
48:54
I'm
48:54
five
48:55
eight.
48:58
All
48:58
right,
48:58
let's
48:58
go
48:59
to
48:59
question
48:59
number
48:59
three.
49:00
Joe.
49:00
United
49:01
Airlines
49:01
and
49:01
Air
49:01
France
49:02
are
49:02
adding
49:02
Starlink
49:03
Wi
49:03
Fi
49:03
to
49:03
their
49:04
fleets.
49:04
And
49:04
according
49:05
to
49:05
the
49:05
airlines,
49:06
the
49:06
speed
49:06
will
49:06
be
49:07
so
49:07
strong
49:07
that
49:07
passengers
49:08
will
49:08
be
49:08
able
49:08
to
49:09
stream
49:09
videos
49:09
and
49:10
potentially
49:10
even
49:10
take
49:11
Zoom
49:11
calls.
49:12
What
49:12
would
49:13
you
49:13
be
49:13
willing
49:13
to
49:13
give
49:14
up
49:14
on
49:15
a
49:15
flight
49:15
for
49:16
reliable
49:17
high
49:17
speed
49:17
Internet
49:18
beverage
49:18
service
49:19
or
49:19
legroom.
49:22
Beverage.
49:23
Service
49:24
you're
49:25
fine
49:25
with,
49:25
I
49:26
think
49:26
I
49:27
would
49:27
tend
49:27
to
49:27
agree
49:28
with
49:28
you.
49:28
I
49:28
feel
49:28
like
49:29
you
49:29
can
49:29
bring
49:29
your.
49:29
Own
49:29
drinks,
49:30
my
49:31
own
49:31
water.
49:31
You
49:32
can't
49:32
pack
49:32
your
49:32
own
49:32
legroom.
49:34
I
49:34
mean,
49:35
I
49:35
kind
49:36
of
49:36
dread
49:36
that
49:36
you're,
49:37
when
49:37
somebody
49:37
next
49:37
to
49:38
me
49:38
in
49:38
coach
49:38
on
49:38
a
49:39
long
49:39
flight
49:39
is
49:39
on
49:39
a
49:39
Zoom
49:40
call.
49:40
I
49:40
relish
49:41
the
49:41
fact
49:41
that
49:42
those
49:42
are
49:42
currently,
49:42
like,
49:43
not
49:43
technically
49:43
feasible
49:44
and
49:44
or
49:44
banned,
49:44
but,
49:46
but,
49:46
but,
49:46
I
49:46
mean,
49:47
there
49:47
was
49:47
an
49:47
era
49:47
when
49:47
phones,
49:48
they
49:48
were,
49:48
like,
49:48
super
49:49
expensive,
49:49
you
49:49
know,
49:49
$5
49:50
phones
49:51
on,
49:51
on
49:51
planes,
49:52
and
49:53
nobody
49:53
really
49:54
used
49:54
them.
49:54
So,
49:54
I
49:55
mean,
49:55
maybe,
49:55
maybe
49:55
this
49:56
is
49:56
just
49:56
back
49:56
to
49:56
the
49:56
future,
49:57
but,
49:57
but
49:58
I
49:58
guess.
49:58
I
49:58
guess
49:59
we're
49:59
marching
50:00
towards
50:00
that
50:00
era
50:00
of
50:01
Zoom
50:01
calls
50:02
on
50:02
films.
50:02
Oh,
50:03
my
50:03
God,
50:03
that's
50:03
gonna
50:03
be
50:03
terrible.
50:04
I'm
50:04
gonna
50:04
hate
50:04
that.
50:05
All
50:05
right,
50:05
last
50:05
one.
50:05
A
50:06
Bridgerton
50:06
ball
50:07
experience
50:07
in
50:07
Detroit
50:08
is
50:08
being
50:09
hailed
50:09
as
50:09
a
50:09
scam
50:10
reminiscent
50:10
of
50:10
what
50:10
transpired
50:11
with
50:11
a
50:11
Willy
50:12
Wonka
50:12
event
50:12
recently
50:13
in
50:13
the
50:13
UK.
50:14
What
50:14
yet
50:15
untapped
50:15
entertainment
50:16
experience
50:17
would
50:17
you
50:17
most
50:17
want
50:18
to
50:18
be
50:18
turned
50:18
into
50:19
retail
50:19
tainment,
50:20
Joe.
50:22
This
50:23
one
50:23
is
50:23
super
50:24
challenging.
50:25
People
50:26
are
50:26
already
50:26
doing
50:26
Star
50:26
Trek,
50:27
right?
50:27
So
50:28
can
50:28
I
50:28
say
50:28
it?
50:29
I
50:29
love
50:29
the
50:29
science
50:30
fictiony
50:30
world
50:30
of
50:31
the
50:31
Federation
50:31
where
50:32
everybody's
50:32
happy
50:33
and
50:33
things
50:34
just
50:34
work,
50:34
and
50:34
we
50:34
have
50:35
transporters
50:35
and
50:36
replicators.
50:36
I
50:37
would
50:37
love
50:37
to
50:37
go
50:38
to
50:38
a
50:38
Star
50:38
Trek
50:39
experience.
50:40
That'd
50:40
be
50:41
probably
50:41
my
50:41
first
50:41
choice.
50:42
So
50:42
you're
50:42
a
50:42
Trekkie,
50:43
Joe.
50:43
That's
50:43
what
50:43
you're
50:43
telling
50:43
us
50:45
of
50:45
the
50:45
various
50:46
stars
50:47
like
50:47
Stargate,
50:48
Star
50:48
wars,
50:48
and
50:49
Star
50:49
Trek?
50:49
I'm
50:49
a
50:50
Star
50:50
Trek
50:50
person.
50:51
There's
50:52
Stargate
50:52
in
50:53
there.
50:53
That's
50:53
a
50:53
good,
50:53
that's
50:54
the
50:54
first
50:54
one
50:54
you
50:54
said
50:55
Stargate,
50:55
Star
50:56
Trek,
50:56
and
50:56
Star
50:56
wars.
50:57
Very
50:57
nice.
50:57
That,
50:58
that
50:58
gives
50:58
us
50:58
some
50:58
keen
50:59
insight
50:59
into
50:59
who
51:00
you
51:00
are,
51:00
Joe,
51:00
so
51:00
thank
51:01
you
51:01
for
51:01
that.
51:02
All
51:02
right,
51:02
well,
51:02
that
51:02
closes
51:03
us
51:03
out.
51:03
Happy
51:03
birthday
51:04
today
51:04
to
51:04
Lorraine
51:05
Braco,
51:06
Avery
51:06
books
51:07
of
51:07
Star,
51:07
Star
51:07
Trek
51:08
fame
51:09
as
51:09
well,
51:09
Joe.
51:09
Wow,
51:10
what
51:10
a
51:10
coincidence.
51:11
And
51:11
to
51:11
the
51:11
man,
51:12
deep
51:12
space
51:12
nine.
51:13
What's
51:13
that?
51:13
Deep
51:14
space
51:14
nine,
51:14
right?
51:15
Yeah,
51:15
right.
51:16
Deep
51:16
space
51:16
nine.
51:16
Yeah.
51:17
I
51:17
don't
51:17
know.
51:17
You
51:17
told
51:18
me.
51:18
I'm
51:18
not
51:19
sure.
51:20
And
51:20
also,
51:21
to
51:21
the
51:21
man
51:21
who
51:22
is
51:22
so
51:22
one
51:22
of
51:22
a
51:23
kind
51:23
that
51:23
he
51:23
goes
51:24
by
51:24
one
51:24
single
51:25
word
51:25
that
51:25
is
51:25
both
51:26
a
51:26
noun
51:27
and
51:27
a
51:27
verb.
51:28
The
51:28
great
51:29
Gordon
51:29
Matthew
51:30
Thomas
51:30
Sumner,
51:31
aka
51:32
Steve.
51:34
I
51:34
know
51:34
youre
51:34
all
51:34
waiting
51:35
for
51:35
it.
51:35
And
51:35
remember,
51:36
if
51:36
you
51:36
can
51:36
only
51:36
read
51:37
or
51:37
listen
51:37
to
51:37
one
51:37
retail
51:38
blog
51:38
in
51:38
the
51:38
business,
51:38
make
51:39
it
51:39
omnitalk.
51:39
The
51:39
only
51:40
retail
51:40
media
51:40
outlet
51:41
run
51:41
by
51:41
two
51:41
former
51:42
executives
51:43
from
51:43
a
51:43
current
51:43
top
51:43
ten
51:44
Us
51:44
retailer.
51:45
Our
51:45
fast
51:45
five
51:45
podcast
51:46
is
51:46
the
51:46
quickest,
51:47
fastest
51:47
rundown
51:47
of
51:48
all
51:48
the
51:48
week's
51:48
top
51:48
news,
51:49
and
51:49
our
51:49
daily
51:50
newsletter,
51:50
the
51:50
retail
51:51
daily
51:51
minute,
51:51
tells
51:51
you
51:52
all
51:52
you
51:52
need
51:52
to
51:52
know
51:52
each
51:53
day
51:53
to
51:53
stay
51:54
on
51:54
top
51:54
of
51:54
your
51:54
game
51:55
as
51:55
a
51:55
retail
51:55
executive,
51:56
and
51:56
also
51:56
regularly
51:57
features
51:58
special
51:58
content,
51:58
content
51:59
that
51:59
is
51:59
exclusive
51:59
to
52:00
us
52:00
and
52:00
that
52:00
Ann
52:01
and
52:01
I
52:01
take
52:01
great
52:01
pride
52:02
in
52:02
doing
52:02
just
52:02
for
52:03
you.
52:03
Thanks,
52:03
as
52:03
always,
52:04
for
52:04
listening
52:04
in.
52:05
Please
52:05
remember
52:05
to
52:05
like
52:05
and
52:06
leave
52:06
us
52:06
a
52:06
review
52:06
wherever
52:07
you
52:07
happen
52:07
to
52:07
listen
52:07
to
52:08
your
52:08
podcast
52:08
or
52:09
on
52:09
YouTube.
52:09
You
52:10
can
52:10
follow
52:10
us
52:10
today
52:10
by
52:11
simply
52:11
going
52:11
to
52:11
YouTube.com
52:13
omnitalkretail.
52:15
And
52:15
so,
52:15
until
52:15
next
52:16
week,
52:16
on
52:16
behalf
52:16
of
52:16
all
52:16
of
52:16
us
52:17
at
52:17
Omnitalk,
52:17
be
52:17
careful
52:18
out
52:18
there.