Latest / Omni Talk Retail / Macy's Asset Protection Insights | NRF 2025 with Joe Coll

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Macy's Asset Protection Insights | NRF 2025 with Joe Coll · Omni Talk Retail

• 0:00
  Hello,
• 0:00
  everyone.
• 0:01
  This
• 0:01
  is
• 0:01
  Omnitalk
• 0:02
  Retail.
• 0:02
  I'm
• 0:02
  Chris
• 0:02
  Walton.
• 0:03
  And
• 0:03
  I'm
• 0:03
  Anne
• 0:03
  Mazinga.
• 0:04
  And
• 0:04
  we
• 0:04
  are
• 0:04
  coming
• 0:04
  to
• 0:04
  you
• 0:04
  live
• 0:05
  from
• 0:05
  day
• 0:05
  two
• 0:05
  of
• 0:06
  NRF
• 0:06
  from
• 0:06
  the
• 0:06
  Fusion
• 0:07
  Group
• 0:07
  podcast
• 0:08
  studio
• 0:08
  in
• 0:08
  booth
• 0:09
  4938.
• 0:10
  And
• 0:10
  joining
• 0:11
  us
• 0:11
  now,
• 0:11
  Ann
• 0:12
  is
• 0:12
  a
• 0:12
  man
• 0:12
  that
• 0:12
  I've
• 0:12
  been
• 0:13
  anxious
• 0:13
  to
• 0:13
  meet
• 0:14
  for
• 0:14
  some
• 0:14
  time.
• 0:14
  I
• 0:15
  know
• 0:15
  you
• 0:15
  have
• 0:15
  as
• 0:15
  well.
• 0:16
  Yes.
• 0:16
  And
• 0:16
  that
• 0:16
  is
• 0:16
  Joe
• 0:17
  Call.
• 0:17
  And
• 0:17
  I
• 0:17
  want
• 0:18
  to
• 0:18
  get
• 0:18
  Joe's
• 0:18
  title
• 0:19
  right.
• 0:19
  Joe
• 0:19
  is
• 0:20
  the
• 0:20
  vice
• 0:20
  president
• 0:21
  of
• 0:21
  asset
• 0:21
  protection
• 0:22
  operations
• 0:22
  and
• 0:23
  strategy
• 0:23
  at
• 0:24
  Macy's.
• 0:24
  Joe,
• 0:25
  thank
• 0:25
  you
• 0:25
  so
• 0:25
  much
• 0:25
  for
• 0:25
  joining
• 0:26
  us
• 0:26
  and
• 0:26
  making
• 0:26
  time
• 0:26
  for
• 0:26
  us
• 0:26
  today.
• 0:27
  I'm
• 0:27
  glad
• 0:27
  to
• 0:27
  be
• 0:27
  here
• 0:27
  with
• 0:27
  both
• 0:28
  of
• 0:28
  you.
• 0:28
  Well,
• 0:29
  yeah,
• 0:29
  I
• 0:29
  want
• 0:30
  to
• 0:30
  hear
• 0:30
  a
• 0:30
  little
• 0:30
  bit
• 0:30
  about
• 0:31
  first
• 0:31
  of
• 0:31
  all
• 0:32
  your
• 0:32
  background
• 0:33
  and
• 0:33
  then
• 0:33
  your
• 0:34
  current
• 0:34
  role
• 0:34
  at
• 0:34
  Macy's.
• 0:35
  Tell
• 0:35
  us
• 0:35
  a
• 0:35
  little
• 0:35
  bit
• 0:35
  about
• 0:36
  what,
• 0:36
  what
• 0:36
  the
• 0:36
  day,
• 0:36
  what
• 0:37
  a
• 0:37
  day
• 0:37
  in
• 0:37
  the
• 0:37
  life
• 0:37
  of
• 0:38
  Joe
• 0:38
  looks
• 0:38
  like.
• 0:38
  Yeah,
• 0:39
  for
• 0:39
  sure.
• 0:39
  So
• 0:40
  my
• 0:40
  background
• 0:40
  would
• 0:41
  take
• 0:41
  probably
• 0:41
  about
• 0:41
  30
• 0:42
  minutes
• 0:42
  to
• 0:42
  go
• 0:42
  through
• 0:42
  my
• 0:42
  entire
• 0:43
  history
• 0:43
  at
• 0:43
  Macy's.
• 0:43
  I've
• 0:44
  been
• 0:44
  with
• 0:44
  Macy's
• 0:44
  now
• 0:44
  for
• 0:45
  about
• 0:45
  27
• 0:45
  years.
• 0:45
  Have
• 0:46
  you
• 0:46
  really?
• 0:46
  Did
• 0:46
  you
• 0:46
  do
• 0:46
  like
• 0:47
  the
• 0:47
  training
• 0:47
  program
• 0:48
  and
• 0:48
  stuff?
• 0:48
  No,
• 0:49
  I
• 0:49
  actually
• 0:49
  started
• 0:49
  out
• 0:50
  selling
• 0:50
  dress
• 0:50
  shirts
• 0:50
  and
• 0:50
  ties.
• 0:51
  Oh,
• 0:51
  man.
• 0:52
  As
• 0:52
  a
• 0:52
  part
• 0:52
  time
• 0:52
  sales
• 0:53
  associate.
• 0:53
  I
• 0:53
  wonder.
• 0:53
  You
• 0:53
  look
• 0:54
  so
• 0:54
  sharp.
• 0:54
  You've
• 0:54
  got,
• 0:54
  you've
• 0:55
  not
• 0:55
  wearing
• 0:55
  a
• 0:55
  tie
• 0:55
  right
• 0:56
  now.
• 0:56
  But
• 0:57
  I
• 0:57
  started
• 0:58
  doing
• 0:58
  that
• 0:58
  when
• 0:58
  I
• 0:58
  was
• 0:59
  about
• 0:59
  18
• 0:59
  years
• 0:59
  old
• 0:59
  and
• 1:00
  it
• 1:00
  was
• 1:00
  my
• 1:00
  first
• 1:00
  introduction
• 1:01
  into
• 1:01
  retail
• 1:01
  asset.
• 1:01
  But
• 1:02
  I
• 1:02
  really
• 1:02
  didn't
• 1:02
  even
• 1:02
  know
• 1:03
  it
• 1:03
  existed
• 1:03
  until
• 1:03
  I
• 1:03
  got
• 1:04
  that
• 1:04
  job.
• 1:04
  Figured
• 1:05
  I
• 1:05
  was
• 1:05
  going
• 1:05
  to
• 1:05
  become
• 1:05
  a
• 1:05
  police
• 1:06
  officer.
• 1:06
  Figured
• 1:07
  I'd
• 1:07
  get
• 1:07
  into
• 1:07
  asset
• 1:08
  production
• 1:08
  to
• 1:08
  just
• 1:08
  understand
• 1:09
  a
• 1:09
  little
• 1:09
  bit
• 1:09
  of
• 1:09
  it
• 1:09
  before
• 1:10
  I
• 1:10
  became
• 1:10
  a
• 1:10
  cop.
• 1:11
  And
• 1:11
  then
• 1:11
  one
• 1:12
  thing
• 1:12
  led
• 1:12
  to
• 1:12
  another.
• 1:13
  27
• 1:13
  years
• 1:13
  later,
• 1:14
  I
• 1:14
  am
• 1:14
  still
• 1:14
  here.
• 1:14
  And
• 1:15
  I
• 1:15
  have
• 1:15
  the
• 1:16
  distinct
• 1:16
  pleasure
• 1:16
  right
• 1:16
  now
• 1:17
  of
• 1:17
  leading
• 1:17
  asset
• 1:17
  protection
• 1:18
  for
• 1:18
  all
• 1:18
  of
• 1:18
  Macy's
• 1:19
  department
• 1:19
  stores.
• 1:19
  Under
• 1:20
  my
• 1:20
  responsibility
• 1:20
  is
• 1:21
  all
• 1:21
  of
• 1:21
  our
• 1:21
  stores
• 1:21
  nationwide.
• 1:22
  I
• 1:22
  also
• 1:23
  have
• 1:23
  responsibility
• 1:23
  for
• 1:24
  our
• 1:24
  supply
• 1:24
  chain
• 1:24
  asset
• 1:25
  production
• 1:25
  teams.
• 1:26
  So
• 1:26
  all
• 1:26
  of
• 1:26
  those
• 1:26
  teams
• 1:26
  that
• 1:27
  handle
• 1:27
  the
• 1:27
  distribution
• 1:27
  centers,
• 1:28
  fulfillment
• 1:28
  centers.
• 1:29
  And
• 1:29
  then
• 1:29
  the
• 1:30
  third
• 1:30
  area
• 1:30
  is
• 1:31
  our
• 1:31
  fraud
• 1:31
  strategy,
• 1:32
  our
• 1:32
  group
• 1:32
  that
• 1:32
  handles
• 1:32
  all
• 1:33
  of
• 1:33
  our
• 1:33
  Macy's
• 1:33
  private
• 1:33
  label
• 1:34
  cardholders,
• 1:35
  protecting
• 1:35
  all
• 1:36
  those
• 1:36
  customers.
• 1:36
  And
• 1:36
  cybersecurity.
• 1:37
  Cybersecurity
• 1:38
  do
• 1:38
  a
• 1:38
  bit.
• 1:39
  We've
• 1:39
  got
• 1:40
  ciso,
• 1:41
  chief
• 1:41
  Information
• 1:41
  Security
• 1:42
  Officer
• 1:42
  that
• 1:42
  handles
• 1:42
  that.
• 1:43
  But
• 1:43
  a
• 1:43
  lot
• 1:43
  of
• 1:44
  what
• 1:44
  we
• 1:44
  do
• 1:44
  blends
• 1:45
  over
• 1:45
  into
• 1:45
  the
• 1:45
  world.
• 1:46
  There's
• 1:46
  a
• 1:46
  lot
• 1:46
  of
• 1:47
  cross
• 1:47
  coordination
• 1:47
  going
• 1:48
  on
• 1:48
  for
• 1:48
  sure.
• 1:48
  Yeah.
• 1:49
  Right.
• 1:49
  So
• 1:49
  what
• 1:49
  brings
• 1:49
  you
• 1:50
  to
• 1:50
  nrf?
• 1:50
  I
• 1:50
  mean,
• 1:50
  I
• 1:50
  know
• 1:51
  you
• 1:51
  live
• 1:51
  in,
• 1:51
  you
• 1:51
  live
• 1:51
  in
• 1:52
  New
• 1:52
  York,
• 1:52
  right?
• 1:52
  I
• 1:53
  live
• 1:53
  in
• 1:53
  New
• 1:53
  York.
• 1:54
  Not
• 1:54
  too
• 1:54
  far.
• 1:55
  My
• 1:55
  office
• 1:55
  is
• 1:55
  just
• 1:56
  down
• 1:56
  34th
• 1:56
  Street.
• 1:57
  So
• 1:57
  even
• 1:58
  walking
• 1:58
  distance
• 1:58
  to
• 1:59
  NRF.
• 1:59
  So
• 1:59
  I
• 1:59
  would
• 1:59
  imagine
• 2:00
  most
• 2:00
  of
• 2:00
  the
• 2:00
  people
• 2:00
  that
• 2:00
  are
• 2:00
  here
• 2:01
  today
• 2:01
  can't
• 2:01
  say
• 2:01
  they
• 2:01
  can
• 2:01
  walk
• 2:02
  from
• 2:02
  their
• 2:02
  office
• 2:03
  to
• 2:03
  the
• 2:03
  convention
• 2:04
  center.
• 2:04
  But
• 2:04
  I
• 2:04
  have
• 2:05
  that
• 2:05
  privilege
• 2:05
  having
• 2:05
  an
• 2:06
  office
• 2:06
  in
• 2:06
  Herald
• 2:06
  Square.
• 2:07
  I
• 2:08
  come
• 2:08
  every
• 2:08
  year
• 2:08
  to
• 2:08
  the
• 2:08
  nrf.
• 2:09
  What
• 2:09
  I
• 2:09
  love
• 2:10
  about
• 2:10
  the
• 2:10
  big
• 2:10
  show
• 2:10
  is
• 2:11
  over
• 2:11
  the
• 2:11
  past
• 2:11
  four
• 2:11
  or
• 2:11
  five
• 2:12
  years
• 2:12
  you've
• 2:12
  started
• 2:12
  to
• 2:13
  really
• 2:13
  see
• 2:13
  a
• 2:13
  transition
• 2:14
  at
• 2:14
  nrf.
• 2:15
  You
• 2:15
  walk
• 2:15
  into
• 2:15
  almost
• 2:15
  every
• 2:16
  single
• 2:16
  booth
• 2:16
  and
• 2:17
  there's
• 2:17
  going
• 2:17
  to
• 2:17
  be
• 2:17
  components
• 2:17
  of
• 2:18
  video,
• 2:18
  there's
• 2:18
  going
• 2:18
  to
• 2:18
  be
• 2:18
  asset
• 2:19
  protection
• 2:19
  discussions
• 2:20
  in
• 2:20
  every
• 2:20
  one
• 2:20
  of
• 2:20
  those
• 2:21
  boots.
• 2:21
  Five
• 2:21
  years
• 2:22
  ago
• 2:22
  it
• 2:22
  was
• 2:23
  hard
• 2:23
  to
• 2:23
  find
• 2:23
  it
• 2:23
  and
• 2:24
  it
• 2:24
  really
• 2:24
  is.
• 2:24
  Seeing
• 2:24
  that
• 2:25
  transformation
• 2:25
  is
• 2:25
  exciting.
• 2:26
  The
• 2:26
  exit
• 2:26
  gates
• 2:26
  or
• 2:27
  something
• 2:27
  was
• 2:27
  probably
• 2:28
  like
• 2:28
  it.
• 2:28
  The
• 2:28
  checkpoint
• 2:29
  security
• 2:29
  things
• 2:30
  and
• 2:30
  that
• 2:30
  was
• 2:30
  probably
• 2:31
  it
• 2:31
  early
• 2:31
  on.
• 2:31
  That's
• 2:32
  true.
• 2:32
  You're
• 2:32
  the
• 2:32
  talk
• 2:32
  of
• 2:32
  the
• 2:33
  industry
• 2:33
  now.
• 2:33
  Your
• 2:33
  area
• 2:34
  is
• 2:34
  really
• 2:34
  the
• 2:34
  talk
• 2:34
  of
• 2:34
  the
• 2:34
  industry
• 2:35
  right
• 2:35
  now
• 2:35
  for
• 2:35
  without
• 2:36
  a
• 2:36
  doubt.
• 2:36
  Yeah,
• 2:37
  I
• 2:37
  mean,
• 2:37
  talk
• 2:38
  a
• 2:38
  little
• 2:38
  bit
• 2:38
  more
• 2:39
  about
• 2:39
  that.
• 2:39
  Like
• 2:40
  shrink
• 2:40
  theft.
• 2:41
  It's
• 2:41
  a
• 2:41
  huge,
• 2:42
  huge
• 2:42
  topic
• 2:43
  on
• 2:43
  the
• 2:43
  minds
• 2:43
  of
• 2:44
  retailers
• 2:44
  right
• 2:44
  now.
• 2:45
  How
• 2:45
  are
• 2:45
  you
• 2:46
  at
• 2:46
  Macy's
• 2:47
  kind
• 2:47
  of
• 2:47
  approaching
• 2:48
  a
• 2:48
  strategy
• 2:49
  to
• 2:50
  eliminate
• 2:51
  that
• 2:51
  or
• 2:51
  minimize
• 2:52
  it
• 2:52
  as
• 2:52
  much
• 2:52
  as
• 2:52
  possible.
• 2:53
  It's
• 2:53
  definitely
• 2:54
  complicated.
• 2:54
  I'll
• 2:55
  tell
• 2:55
  you
• 2:55
  though,
• 2:55
  I've
• 2:55
  been
• 2:55
  doing
• 2:56
  this
• 2:56
  27
• 2:56
  years.
• 2:57
  Theft
• 2:57
  was
• 2:57
  there
• 2:57
  when
• 2:57
  I
• 2:58
  started.
• 2:59
  Theft
• 2:59
  will
• 2:59
  be
• 2:59
  there
• 2:59
  when
• 3:00
  I
• 3:00
  leave
• 3:00
  for
• 3:00
  sure.
• 3:01
  I
• 3:01
  think
• 3:02
  over
• 3:02
  the
• 3:02
  past
• 3:02
  few
• 3:03
  years
• 3:03
  though,
• 3:03
  what
• 3:03
  really
• 3:04
  has
• 3:04
  been
• 3:04
  added
• 3:04
  to
• 3:05
  it
• 3:05
  is
• 3:05
  the
• 3:05
  amount
• 3:06
  of
• 3:06
  violence
• 3:06
  that's
• 3:06
  around
• 3:07
  theft.
• 3:07
  Oh
• 3:07
  really?
• 3:08
  That
• 3:08
  has
• 3:08
  really
• 3:09
  changed
• 3:09
  it
• 3:09
  for
• 3:10
  everybody.
• 3:10
  And
• 3:10
  that
• 3:10
  focus
• 3:11
  for
• 3:11
  us
• 3:11
  on
• 3:11
  customers
• 3:12
  and
• 3:12
  colleague
• 3:12
  safety
• 3:13
  has
• 3:13
  become
• 3:13
  so
• 3:14
  paramount.
• 3:14
  We've
• 3:14
  always
• 3:14
  said
• 3:15
  it,
• 3:15
  but
• 3:15
  we
• 3:15
  now
• 3:16
  live
• 3:16
  it
• 3:16
  every
• 3:16
  single
• 3:16
  day.
• 3:16
  With
• 3:17
  every
• 3:17
  decision
• 3:17
  that
• 3:17
  we
• 3:17
  make,
• 3:18
  every
• 3:18
  strategy
• 3:18
  we
• 3:18
  put
• 3:19
  in
• 3:19
  place
• 3:19
  to
• 3:19
  help
• 3:19
  combat
• 3:20
  the
• 3:20
  retail
• 3:20
  theft
• 3:21
  that
• 3:21
  we've
• 3:21
  got,
• 3:21
  we've
• 3:22
  got
• 3:22
  to
• 3:22
  have
• 3:22
  an
• 3:22
  eye
• 3:22
  on.
• 3:23
  If
• 3:23
  the
• 3:23
  strategy
• 3:23
  we're
• 3:24
  doing
• 3:24
  is
• 3:24
  creating
• 3:24
  more
• 3:25
  risk
• 3:25
  for
• 3:25
  our
• 3:25
  customers
• 3:26
  and
• 3:26
  our
• 3:26
  colleagues,
• 3:26
  then
• 3:26
  it's
• 3:27
  not
• 3:27
  the
• 3:27
  right
• 3:27
  strategy.
• 3:27
  And
• 3:28
  what
• 3:28
  have
• 3:28
  you
• 3:28
  done
• 3:28
  differently
• 3:28
  at
• 3:29
  Macy's
• 3:29
  given
• 3:30
  that
• 3:30
  over
• 3:30
  the
• 3:30
  last
• 3:30
  few
• 3:30
  years?
• 3:31
  And
• 3:31
  what
• 3:31
  have
• 3:31
  you
• 3:31
  found
• 3:31
  successful?
• 3:32
  Yeah,
• 3:32
  for
• 3:32
  sure.
• 3:32
  We've.
• 3:33
  We've
• 3:33
  been
• 3:34
  spending
• 3:34
  a
• 3:34
  lot
• 3:34
  of
• 3:34
  time
• 3:35
  training
• 3:35
  our
• 3:35
  colleagues,
• 3:36
  our
• 3:36
  people,
• 3:36
  leaders
• 3:36
  in
• 3:36
  our
• 3:37
  stores
• 3:37
  on
• 3:37
  things
• 3:37
  like
• 3:37
  de
• 3:38
  escalation
• 3:38
  or
• 3:39
  even
• 3:39
  no
• 3:39
  escalation.
• 3:40
  You
• 3:40
  got
• 3:40
  to
• 3:40
  get
• 3:40
  to
• 3:41
  the
• 3:41
  point
• 3:41
  of
• 3:41
  just
• 3:41
  no
• 3:41
  escalation
• 3:42
  for
• 3:42
  those
• 3:42
  customers
• 3:43
  as
• 3:43
  well
• 3:43
  as
• 3:44
  an
• 3:44
  unfortunate
• 3:45
  necessary
• 3:46
  training
• 3:46
  for
• 3:46
  us
• 3:46
  is
• 3:47
  active
• 3:47
  threat
• 3:47
  training,
• 3:48
  being
• 3:48
  able
• 3:48
  to
• 3:49
  shelter
• 3:49
  in
• 3:49
  place
• 3:49
  inside
• 3:50
  of
• 3:50
  stores.
• 3:51
  Past
• 3:51
  few
• 3:51
  years
• 3:52
  we've
• 3:52
  been
• 3:53
  training
• 3:53
  everybody
• 3:53
  on
• 3:54
  that
• 3:54
  because
• 3:54
  it's
• 3:54
  a
• 3:54
  reality.
• 3:55
  You
• 3:55
  can't
• 3:55
  go
• 3:56
  a
• 3:56
  week
• 3:57
  around
• 3:57
  this
• 3:57
  country
• 3:58
  and
• 3:58
  not
• 3:58
  hearing
• 3:58
  about
• 3:59
  gunshots
• 3:59
  in
• 3:59
  a
• 3:59
  mall.
• 4:00
  Or
• 4:00
  broken
• 4:01
  glass
• 4:01
  in
• 4:01
  a
• 4:01
  mall
• 4:02
  that
• 4:02
  everybody
• 4:02
  says
• 4:03
  that's
• 4:03
  gunshots
• 4:03
  and
• 4:04
  everybody's
• 4:04
  running
• 4:04
  for
• 4:04
  the
• 4:04
  exit.
• 4:05
  So
• 4:05
  being
• 4:06
  able
• 4:06
  to
• 4:06
  train
• 4:06
  your
• 4:06
  teams
• 4:07
  in
• 4:07
  a
• 4:07
  moment
• 4:07
  of
• 4:07
  crisis
• 4:08
  to
• 4:08
  be
• 4:08
  prepared
• 4:09
  to
• 4:09
  shelter
• 4:09
  those
• 4:10
  customers
• 4:10
  and
• 4:10
  their
• 4:10
  colleagues
• 4:11
  inside
• 4:11
  the
• 4:11
  store
• 4:11
  is
• 4:11
  paramount.
• 4:12
  It's
• 4:12
  important
• 4:13
  that
• 4:13
  they
• 4:14
  understand
• 4:14
  what
• 4:14
  they
• 4:14
  need
• 4:14
  to
• 4:14
  do
• 4:14
  if
• 4:15
  the
• 4:15
  situation
• 4:15
  arises
• 4:15
  100%.
• 4:16
  I
• 4:16
  want
• 4:16
  to
• 4:17
  step
• 4:17
  away
• 4:17
  from
• 4:17
  Macy's
• 4:18
  for
• 4:18
  a
• 4:18
  second.
• 4:18
  I
• 4:18
  want
• 4:18
  you
• 4:18
  to
• 4:19
  put
• 4:19
  your
• 4:19
  industry
• 4:19
  hat
• 4:19
  on.
• 4:19
  And
• 4:20
  this
• 4:20
  is
• 4:20
  actually
• 4:20
  the
• 4:20
  question.
• 4:21
  Of
• 4:21
  all
• 4:21
  the
• 4:21
  questions
• 4:22
  that
• 4:22
  we
• 4:22
  created
• 4:22
  for
• 4:23
  nrf,
• 4:23
  for
• 4:23
  all
• 4:24
  our
• 4:24
  slate
• 4:24
  of
• 4:24
  interviews,
• 4:24
  this
• 4:25
  is
• 4:25
  the
• 4:25
  one
• 4:25
  I'm
• 4:25
  most
• 4:25
  excited
• 4:26
  to
• 4:26
  ask.
• 4:27
  I
• 4:27
  want
• 4:27
  you
• 4:27
  to
• 4:27
  put
• 4:27
  the
• 4:27
  industry
• 4:28
  hat
• 4:28
  on.
• 4:28
  There's
• 4:28
  been
• 4:28
  a
• 4:28
  lot
• 4:28
  of
• 4:29
  different
• 4:29
  tactics
• 4:30
  and
• 4:30
  ways
• 4:31
  different
• 4:31
  retailers
• 4:32
  have
• 4:32
  approached,
• 4:33
  you
• 4:33
  know,
• 4:33
  combating
• 4:33
  shrink
• 4:34
  or
• 4:34
  combating
• 4:34
  theft.
• 4:35
  Like
• 4:35
  some
• 4:35
  retailers
• 4:35
  are
• 4:35
  even
• 4:36
  putting
• 4:36
  products
• 4:36
  behind
• 4:36
  glass.
• 4:37
  Yeah.
• 4:38
  What
• 4:38
  is
• 4:38
  your
• 4:38
  opinion
• 4:39
  of
• 4:39
  what
• 4:39
  strategies
• 4:40
  are
• 4:40
  going
• 4:40
  to
• 4:40
  work?
• 4:40
  Which
• 4:41
  ones
• 4:41
  aren't?
• 4:41
  As
• 4:41
  you
• 4:42
  look
• 4:42
  at
• 4:42
  what
• 4:42
  the
• 4:42
  industry
• 4:43
  has
• 4:43
  been
• 4:43
  doing
• 4:43
  over
• 4:44
  these
• 4:44
  last
• 4:44
  few
• 4:44
  years,
• 4:44
  give.
• 4:44
  It
• 4:44
  gives
• 4:45
  us
• 4:45
  your
• 4:45
  take.
• 4:45
  Yeah.
• 4:46
  So
• 4:46
  I
• 4:46
  will.
• 4:46
  I
• 4:46
  will
• 4:47
  definitely
• 4:47
  not
• 4:47
  speak
• 4:47
  from
• 4:48
  the
• 4:48
  vantage
• 4:48
  point
• 4:49
  of
• 4:49
  Macy's,
• 4:49
  although
• 4:49
  we
• 4:50
  do
• 4:50
  have
• 4:50
  things
• 4:50
  under
• 4:50
  glass.
• 4:51
  Yeah.
• 4:51
  We've
• 4:51
  got
• 4:51
  fine
• 4:52
  jewelry,
• 4:52
  we've
• 4:52
  got
• 4:52
  fragrances,
• 4:53
  we've
• 4:53
  got
• 4:53
  things
• 4:54
  like
• 4:54
  handbags
• 4:54
  that
• 4:54
  are
• 4:55
  tethered
• 4:55
  to
• 4:55
  fixtures.
• 4:56
  It's
• 4:56
  really
• 4:57
  an
• 4:57
  interesting
• 4:57
  question
• 4:58
  because
• 4:59
  just
• 4:59
  on
• 4:59
  Saturday
• 5:00
  we
• 5:00
  had
• 5:00
  about
• 5:00
  50
• 5:01
  legislators
• 5:01
  from
• 5:01
  around
• 5:01
  the
• 5:02
  country
• 5:02
  inside
• 5:02
  of
• 5:02
  our
• 5:02
  Macy's
• 5:03
  Herald
• 5:03
  Square
• 5:03
  store
• 5:04
  talking
• 5:04
  about
• 5:04
  retail
• 5:04
  crime
• 5:05
  and
• 5:05
  what
• 5:05
  we're
• 5:05
  doing
• 5:05
  on
• 5:05
  it.
• 5:06
  And
• 5:06
  one
• 5:06
  of
• 5:06
  the
• 5:06
  questions
• 5:07
  they
• 5:07
  asked
• 5:07
  was,
• 5:07
  hey,
• 5:07
  I
• 5:08
  went
• 5:08
  to
• 5:08
  go
• 5:08
  buy
• 5:08
  a
• 5:08
  jacket
• 5:08
  earlier
• 5:09
  downstairs
• 5:09
  and
• 5:09
  it
• 5:10
  had
• 5:10
  a
• 5:10
  cable
• 5:10
  on
• 5:10
  it
• 5:10
  and
• 5:11
  it
• 5:11
  was
• 5:11
  tethered
• 5:11
  to
• 5:11
  the
• 5:11
  fixture.
• 5:12
  Why
• 5:12
  are
• 5:12
  you
• 5:12
  doing
• 5:13
  that?
• 5:13
  And
• 5:13
  it
• 5:13
  was
• 5:13
  a
• 5:14
  moment
• 5:14
  for
• 5:14
  us
• 5:14
  to
• 5:14
  kind
• 5:14
  of
• 5:14
  step
• 5:15
  back
• 5:15
  with
• 5:15
  them
• 5:15
  and
• 5:15
  educate
• 5:16
  them
• 5:16
  on.
• 5:16
  We
• 5:16
  don't
• 5:17
  just
• 5:17
  get
• 5:17
  a
• 5:17
  new
• 5:17
  product
• 5:17
  into
• 5:18
  a
• 5:18
  store
• 5:18
  and
• 5:18
  say,
• 5:19
  we
• 5:19
  think
• 5:19
  this
• 5:19
  is
• 5:19
  going
• 5:19
  to
• 5:19
  get
• 5:20
  stolen,
• 5:20
  so
• 5:20
  let's
• 5:20
  tether
• 5:20
  it
• 5:21
  down
• 5:21
  so
• 5:21
  that
• 5:21
  the
• 5:21
  customer
• 5:21
  can't
• 5:22
  buy
• 5:22
  it.
• 5:22
  We're
• 5:22
  making
• 5:23
  that
• 5:23
  decision
• 5:23
  based
• 5:23
  on
• 5:23
  data,
• 5:24
  based
• 5:24
  on
• 5:24
  risk,
• 5:25
  based
• 5:25
  on
• 5:25
  previous
• 5:25
  loss
• 5:26
  events.
• 5:26
  So
• 5:26
  what
• 5:27
  I
• 5:27
  shared
• 5:27
  with
• 5:27
  them
• 5:27
  was
• 5:28
  we're
• 5:28
  only
• 5:28
  doing
• 5:28
  that
• 5:28
  as
• 5:29
  a
• 5:29
  last
• 5:29
  resort.
• 5:29
  And
• 5:30
  when
• 5:30
  you
• 5:30
  see
• 5:30
  some
• 5:30
  of
• 5:30
  these
• 5:30
  other
• 5:30
  retailers
• 5:31
  that
• 5:31
  are
• 5:31
  putting
• 5:31
  things
• 5:31
  like,
• 5:32
  you
• 5:32
  know,
• 5:33
  common
• 5:33
  necessary
• 5:34
  needs
• 5:34
  that
• 5:34
  you
• 5:34
  have
• 5:35
  detergent.
• 5:36
  Yeah.
• 5:36
  You
• 5:36
  know,
• 5:37
  when
• 5:37
  that's
• 5:37
  behind
• 5:37
  glass,
• 5:37
  it's
• 5:38
  because
• 5:38
  if
• 5:38
  it
• 5:38
  wasn't
• 5:38
  behind
• 5:39
  the
• 5:39
  glass,
• 5:39
  it
• 5:39
  wouldn't
• 5:39
  have
• 5:40
  been
• 5:40
  there.
• 5:40
  It's
• 5:40
  actually
• 5:41
  been
• 5:41
  stealing.
• 5:41
  They're
• 5:42
  stealing
• 5:42
  it
• 5:42
  all
• 5:42
  off
• 5:42
  of
• 5:43
  the
• 5:43
  shelves,
• 5:43
  every
• 5:43
  single
• 5:44
  item.
• 5:44
  So
• 5:45
  what
• 5:45
  I've
• 5:45
  seen.
• 5:45
  And
• 5:46
  I'll
• 5:46
  tie
• 5:46
  it
• 5:46
  kind
• 5:46
  of
• 5:46
  Back
• 5:46
  into
• 5:47
  NRF
• 5:47
  is
• 5:48
  we
• 5:48
  just
• 5:48
  were
• 5:49
  at
• 5:49
  a
• 5:49
  vendor,
• 5:49
  and
• 5:49
  I
• 5:49
  won't
• 5:49
  plug
• 5:50
  the
• 5:50
  name
• 5:50
  on
• 5:51
  this
• 5:51
  podcast,
• 5:51
  but
• 5:51
  we
• 5:52
  were
• 5:52
  just
• 5:52
  with
• 5:52
  a
• 5:52
  vendor
• 5:52
  about
• 5:53
  an
• 5:53
  hour
• 5:53
  ago
• 5:53
  talking
• 5:54
  about
• 5:54
  how
• 5:54
  you
• 5:54
  can
• 5:55
  engage
• 5:55
  the
• 5:55
  customer
• 5:56
  with
• 5:56
  a
• 5:56
  loyalty
• 5:57
  perspective.
• 5:57
  So
• 5:57
  I
• 5:58
  think
• 5:58
  about,
• 5:58
  you
• 5:58
  know,
• 5:58
  if
• 5:59
  you've
• 5:59
  got
• 5:59
  CVS
• 6:00
  and
• 6:00
  you're
• 6:00
  a
• 6:00
  CVS
• 6:01
  loyalist,
• 6:02
  do
• 6:02
  you
• 6:02
  have
• 6:02
  the
• 6:02
  ability
• 6:02
  to
• 6:03
  then
• 6:03
  be
• 6:03
  able
• 6:03
  to
• 6:03
  get
• 6:03
  that
• 6:04
  locked
• 6:04
  up
• 6:04
  item?
• 6:05
  Because
• 6:05
  you've
• 6:05
  proven
• 6:06
  that
• 6:06
  you
• 6:06
  are
• 6:06
  a
• 6:07
  good
• 6:07
  customer
• 6:07
  to
• 6:08
  them
• 6:08
  and
• 6:08
  you
• 6:08
  don't
• 6:08
  need
• 6:08
  to
• 6:08
  rely
• 6:09
  on
• 6:09
  the
• 6:09
  colleague
• 6:09
  for
• 6:09
  it.
• 6:10
  So
• 6:10
  I
• 6:11
  think
• 6:11
  that's
• 6:11
  going
• 6:11
  to
• 6:11
  be
• 6:11
  where
• 6:11
  the
• 6:11
  future
• 6:12
  is.
• 6:12
  I
• 6:12
  also
• 6:13
  do
• 6:13
  believe,
• 6:13
  though,
• 6:14
  because
• 6:14
  of
• 6:14
  the
• 6:14
  rise
• 6:14
  of
• 6:15
  retail
• 6:15
  crime,
• 6:15
  if
• 6:15
  we
• 6:15
  can
• 6:16
  drive
• 6:16
  greater
• 6:16
  accountability
• 6:17
  for
• 6:17
  the
• 6:17
  retail
• 6:17
  crime
• 6:17
  that's
• 6:18
  happening,
• 6:18
  we,
• 6:18
  with
• 6:18
  our
• 6:18
  district
• 6:19
  attorneys,
• 6:19
  our
• 6:20
  attorney
• 6:20
  generals,
• 6:20
  our
• 6:20
  legislators
• 6:21
  that
• 6:21
  are
• 6:21
  putting
• 6:21
  these
• 6:22
  laws
• 6:22
  into
• 6:22
  place,
• 6:23
  we'll
• 6:23
  start
• 6:23
  to
• 6:23
  see
• 6:24
  a
• 6:24
  blunting
• 6:24
  of
• 6:24
  this
• 6:25
  rise
• 6:25
  of
• 6:25
  retail
• 6:25
  crime
• 6:26
  and
• 6:26
  people
• 6:26
  will
• 6:26
  relax
• 6:27
  some
• 6:27
  of
• 6:27
  those
• 6:27
  standards.
• 6:28
  So
• 6:28
  you
• 6:28
  think
• 6:28
  we
• 6:28
  will
• 6:29
  see,
• 6:30
  you
• 6:30
  think
• 6:30
  we
• 6:30
  will
• 6:31
  see
• 6:31
  more
• 6:31
  solutions
• 6:31
  like
• 6:32
  that
• 6:32
  across
• 6:32
  the
• 6:32
  industry
• 6:33
  where,
• 6:33
  you
• 6:33
  know,
• 6:33
  engaging
• 6:34
  with
• 6:34
  loyalty
• 6:34
  or
• 6:35
  apps
• 6:35
  or
• 6:35
  smartphone
• 6:36
  devices
• 6:36
  to
• 6:36
  give
• 6:36
  the
• 6:36
  consumer
• 6:37
  more
• 6:38
  power
• 6:38
  to
• 6:38
  unlock
• 6:39
  the
• 6:39
  experience
• 6:39
  that's
• 6:39
  in
• 6:39
  front
• 6:40
  of
• 6:40
  them
• 6:40
  if
• 6:40
  needed?
• 6:41
  Yeah,
• 6:41
  you're
• 6:42
  seeing
• 6:42
  it
• 6:42
  today
• 6:42
  in
• 6:42
  a
• 6:42
  lot
• 6:43
  of
• 6:43
  pharmacy.
• 6:43
  Yeah,
• 6:44
  they're
• 6:44
  starting
• 6:44
  to,
• 6:44
  I
• 6:45
  mean,
• 6:45
  it's
• 6:45
  costly.
• 6:46
  So
• 6:46
  you've
• 6:46
  got
• 6:46
  to
• 6:46
  weigh
• 6:46
  that
• 6:47
  option
• 6:47
  of
• 6:47
  deploying
• 6:48
  that.
• 6:48
  And
• 6:48
  then
• 6:48
  potentially,
• 6:49
  like
• 6:49
  I
• 6:49
  said,
• 6:49
  if
• 6:49
  we're
• 6:50
  able
• 6:50
  to
• 6:50
  blunt
• 6:50
  this,
• 6:51
  we
• 6:51
  start
• 6:51
  to
• 6:51
  see
• 6:51
  it
• 6:51
  kind
• 6:51
  of
• 6:52
  come
• 6:52
  back
• 6:52
  down
• 6:52
  to
• 6:52
  reasonable
• 6:53
  levels,
• 6:53
  then
• 6:53
  that
• 6:54
  technology
• 6:54
  isn't
• 6:54
  necessary.
• 6:55
  So
• 6:55
  we
• 6:55
  really
• 6:56
  need
• 6:56
  to
• 6:56
  understand
• 6:56
  if
• 6:57
  that
• 6:57
  is
• 6:57
  viable,
• 6:58
  that
• 6:58
  we
• 6:58
  will
• 6:58
  see
• 6:58
  it
• 6:58
  blunted
• 6:59
  and
• 6:59
  be
• 6:59
  able
• 7:00
  to
• 7:00
  say
• 7:00
  we
• 7:00
  can
• 7:00
  relax
• 7:01
  the
• 7:01
  standards
• 7:01
  inside
• 7:01
  of
• 7:01
  our
• 7:01
  stores
• 7:02
  without
• 7:02
  having
• 7:02
  to
• 7:02
  make
• 7:02
  that
• 7:02
  investment.
• 7:03
  Hey,
• 7:04
  Joe,
• 7:04
  so
• 7:04
  you,
• 7:05
  I'm
• 7:05
  curious
• 7:05
  because
• 7:06
  you
• 7:06
  had
• 7:07
  like
• 7:07
  law
• 7:08
  enforcement
• 7:08
  and
• 7:09
  you
• 7:09
  have,
• 7:09
  you
• 7:09
  have
• 7:10
  direct
• 7:10
  communications
• 7:11
  with,
• 7:11
  with
• 7:11
  the
• 7:11
  teams
• 7:11
  that
• 7:12
  are
• 7:12
  trying
• 7:12
  to
• 7:12
  prevent
• 7:12
  this
• 7:13
  and
• 7:13
  the
• 7:13
  attorney,
• 7:14
  the
• 7:14
  district
• 7:14
  attorneys,
• 7:14
  like
• 7:15
  you
• 7:15
  said,
• 7:16
  how
• 7:16
  important
• 7:17
  is
• 7:18
  something
• 7:18
  like
• 7:18
  RFID
• 7:19
  technology
• 7:20
  or
• 7:20
  computer
• 7:21
  vision
• 7:21
  technology
• 7:22
  as
• 7:22
  you're
• 7:23
  thinking
• 7:23
  about,
• 7:23
  you
• 7:24
  know,
• 7:24
  how,
• 7:24
  how
• 7:24
  we
• 7:25
  help
• 7:25
  provide
• 7:26
  that
• 7:26
  law
• 7:26
  enforcement
• 7:27
  team
• 7:28
  with
• 7:28
  the
• 7:29
  data
• 7:29
  that
• 7:29
  they
• 7:29
  need
• 7:30
  to
• 7:30
  actually
• 7:30
  prosecute
• 7:31
  some
• 7:31
  of
• 7:31
  these
• 7:31
  things?
• 7:32
  Because
• 7:32
  I
• 7:32
  think
• 7:32
  in
• 7:32
  a
• 7:32
  lot
• 7:33
  of
• 7:33
  cases
• 7:33
  we're
• 7:33
  hearing
• 7:34
  like
• 7:34
  we,
• 7:35
  because
• 7:35
  of
• 7:35
  the,
• 7:36
  the
• 7:36
  danger
• 7:36
  to
• 7:36
  our
• 7:37
  associates,
• 7:37
  we're
• 7:37
  just
• 7:37
  like,
• 7:38
  people
• 7:38
  will
• 7:38
  leave
• 7:39
  and
• 7:39
  then
• 7:39
  you
• 7:39
  call
• 7:39
  law
• 7:39
  enforcement.
• 7:40
  And
• 7:40
  we
• 7:40
  had
• 7:41
  this
• 7:41
  happen,
• 7:42
  you
• 7:42
  know,
• 7:42
  roughly
• 7:43
  this
• 7:43
  number
• 7:43
  of
• 7:43
  people,
• 7:44
  but
• 7:44
  there's
• 7:44
  not
• 7:44
  enough
• 7:45
  detail
• 7:45
  for
• 7:46
  law
• 7:46
  enforcement
• 7:46
  to
• 7:46
  actually
• 7:47
  go
• 7:47
  follow
• 7:47
  up
• 7:47
  on
• 7:47
  that.
• 7:48
  How
• 7:48
  important
• 7:48
  do
• 7:48
  you
• 7:48
  think
• 7:49
  technology
• 7:49
  is
• 7:49
  that
• 7:50
  can
• 7:50
  give
• 7:50
  them
• 7:51
  this
• 7:51
  number
• 7:51
  of
• 7:51
  items
• 7:52
  were
• 7:52
  taken
• 7:52
  at
• 7:52
  this
• 7:53
  time?
• 7:53
  It
• 7:53
  was
• 7:53
  this
• 7:54
  many
• 7:54
  people,
• 7:54
  like,
• 7:55
  how
• 7:55
  do
• 7:55
  you
• 7:55
  feel
• 7:56
  like
• 7:56
  that
• 7:56
  relevance
• 7:57
  can
• 7:57
  help
• 7:58
  the
• 7:58
  law
• 7:58
  enforcement
• 7:58
  team?
• 7:59
  I
• 7:59
  feel
• 7:59
  like
• 7:59
  it's
• 7:59
  a
• 7:59
  loaded
• 7:59
  question
• 8:00
  because
• 8:00
  we're
• 8:00
  very
• 8:01
  deep
• 8:01
  into
• 8:01
  rfid,
• 8:01
  but
• 8:02
  I'm
• 8:02
  going
• 8:02
  to
• 8:02
  answer
• 8:02
  it
• 8:02
  anyway.
• 8:03
  It
• 8:04
  was
• 8:04
  a
• 8:04
  little
• 8:04
  bit
• 8:04
  of
• 8:04
  a
• 8:04
  softball
• 8:05
  question,
• 8:05
  and
• 8:06
  maybe
• 8:06
  you
• 8:06
  didn't
• 8:06
  know
• 8:06
  it
• 8:08
  well.
• 8:08
  We
• 8:08
  have
• 8:08
  about
• 8:09
  95%
• 8:09
  of
• 8:10
  our
• 8:10
  product
• 8:10
  inside
• 8:10
  of
• 8:10
  our
• 8:10
  stores
• 8:11
  as
• 8:11
  RFID
• 8:11
  on
• 8:11
  it,
• 8:12
  and
• 8:12
  it
• 8:12
  has
• 8:12
  significantly
• 8:13
  changed
• 8:13
  the
• 8:14
  game
• 8:14
  on
• 8:14
  how
• 8:14
  we
• 8:14
  are
• 8:15
  building
• 8:15
  investigations
• 8:16
  for
• 8:16
  law
• 8:16
  enforcement.
• 8:17
  So
• 8:17
  past
• 8:17
  few
• 8:17
  years,
• 8:18
  law
• 8:18
  enforcement
• 8:18
  has
• 8:19
  been
• 8:19
  struggling
• 8:19
  with
• 8:19
  getting
• 8:19
  people
• 8:20
  to
• 8:20
  be
• 8:20
  officers.
• 8:21
  So
• 8:21
  when
• 8:22
  you
• 8:22
  bring
• 8:22
  an
• 8:22
  investigation
• 8:23
  into
• 8:23
  them,
• 8:23
  if
• 8:23
  it's
• 8:23
  not
• 8:23
  fully
• 8:24
  baked,
• 8:24
  they
• 8:24
  don't
• 8:25
  have
• 8:25
  the
• 8:25
  time
• 8:25
  to
• 8:25
  work
• 8:25
  it
• 8:25
  because
• 8:26
  they're
• 8:26
  dealing
• 8:26
  with
• 8:26
  other
• 8:26
  crimes
• 8:27
  that
• 8:27
  are
• 8:27
  more
• 8:27
  serious
• 8:27
  in
• 8:28
  nature
• 8:28
  around
• 8:28
  their
• 8:28
  communities.
• 8:29
  For
• 8:29
  us,
• 8:30
  when
• 8:30
  we
• 8:30
  take
• 8:30
  RFID
• 8:31
  and
• 8:31
  we
• 8:31
  can
• 8:31
  package
• 8:31
  it
• 8:31
  up,
• 8:32
  we
• 8:32
  basically
• 8:32
  just
• 8:32
  give
• 8:32
  it
• 8:33
  to
• 8:33
  them
• 8:33
  or
• 8:33
  we
• 8:33
  give
• 8:33
  it
• 8:33
  to
• 8:33
  a
• 8:34
  prosecutor
• 8:34
  and
• 8:34
  just
• 8:34
  say,
• 8:34
  all
• 8:35
  you
• 8:35
  need
• 8:35
  to
• 8:35
  do
• 8:35
  now
• 8:36
  is,
• 8:36
  is
• 8:36
  prosecute
• 8:36
  this.
• 8:37
  We've
• 8:37
  done
• 8:37
  every
• 8:37
  other
• 8:38
  aspect
• 8:38
  of
• 8:38
  that
• 8:38
  investigation.
• 8:39
  And
• 8:39
  RFID,
• 8:40
  we've
• 8:40
  been
• 8:40
  in
• 8:40
  the
• 8:40
  RFID
• 8:41
  game
• 8:41
  since
• 8:41
  about
• 8:41
  2011,
• 8:42
  and
• 8:43
  in
• 8:43
  2016,
• 8:44
  we
• 8:44
  significantly
• 8:45
  got
• 8:45
  into
• 8:45
  it
• 8:45
  in
• 8:45
  a
• 8:45
  greater
• 8:46
  way
• 8:46
  to
• 8:46
  be
• 8:46
  able
• 8:46
  to
• 8:46
  understand
• 8:47
  what
• 8:47
  product
• 8:47
  is
• 8:47
  leaving
• 8:48
  our
• 8:48
  stores
• 8:48
  without
• 8:49
  being
• 8:49
  paid
• 8:49
  for.
• 8:50
  And
• 8:50
  that
• 8:50
  has
• 8:51
  been
• 8:51
  the
• 8:51
  biggest
• 8:52
  evolution
• 8:52
  in
• 8:53
  technology
• 8:53
  in
• 8:53
  my
• 8:54
  career
• 8:54
  that
• 8:54
  I
• 8:54
  saw.
• 8:54
  Wow.
• 8:55
  Wow,
• 8:55
  that's
• 8:55
  great
• 8:55
  to
• 8:55
  know,
• 8:56
  Joe.
• 8:57
  I
• 8:57
  want
• 8:57
  to
• 8:57
  put
• 8:57
  your
• 8:57
  industry
• 8:57
  hat
• 8:58
  on
• 8:58
  again,
• 8:58
  too,
• 8:58
  real
• 8:58
  quick.
• 8:59
  So
• 9:00
  one
• 9:00
  topic,
• 9:01
  it
• 9:01
  kind
• 9:01
  of
• 9:01
  goes
• 9:01
  back
• 9:01
  to
• 9:02
  the
• 9:02
  glass
• 9:02
  question,
• 9:02
  too.
• 9:03
  And
• 9:03
  it's,
• 9:03
  you
• 9:03
  know,
• 9:03
  it's
• 9:03
  all
• 9:04
  germane
• 9:04
  to
• 9:04
  the
• 9:04
  conversation
• 9:04
  we
• 9:05
  were
• 9:05
  having
• 9:05
  even
• 9:05
  around
• 9:05
  rfid.
• 9:06
  And
• 9:07
  I've
• 9:07
  been
• 9:07
  having
• 9:07
  a
• 9:07
  lot
• 9:07
  of
• 9:07
  conversations
• 9:08
  about
• 9:08
  the
• 9:08
  Costco
• 9:09
  or
• 9:09
  the
• 9:09
  Sam's
• 9:09
  Club
• 9:10
  model
• 9:10
  where
• 9:10
  you
• 9:11
  have
• 9:11
  to
• 9:11
  show
• 9:11
  an
• 9:12
  ID
• 9:12
  to
• 9:12
  enter.
• 9:13
  Like,
• 9:13
  does
• 9:13
  that.
• 9:14
  Do
• 9:14
  you
• 9:14
  think
• 9:14
  we'll
• 9:14
  start
• 9:15
  to
• 9:15
  see
• 9:15
  more
• 9:15
  of
• 9:15
  that
• 9:16
  throughout
• 9:16
  retail
• 9:16
  as
• 9:17
  we
• 9:17
  go
• 9:17
  forward,
• 9:17
  or
• 9:18
  what
• 9:18
  are
• 9:18
  the
• 9:18
  puts
• 9:18
  and
• 9:18
  takes
• 9:19
  with
• 9:19
  that
• 9:19
  model,
• 9:19
  as
• 9:19
  you
• 9:19
  think
• 9:20
  about
• 9:20
  it?
• 9:20
  Look,
• 9:21
  they've
• 9:21
  got
• 9:21
  low
• 9:21
  shrink
• 9:22
  for
• 9:22
  sure.
• 9:22
  And,
• 9:23
  you
• 9:24
  know,
• 9:24
  when
• 9:24
  I
• 9:24
  speak
• 9:24
  to
• 9:24
  my
• 9:25
  peers
• 9:25
  in
• 9:25
  the
• 9:25
  industry,
• 9:26
  it
• 9:27
  is
• 9:27
  not
• 9:27
  a
• 9:27
  model
• 9:28
  for
• 9:28
  everybody,
• 9:28
  though.
• 9:28
  Yeah,
• 9:29
  you've
• 9:29
  got
• 9:29
  to.
• 9:29
  You're
• 9:30
  paying
• 9:30
  to
• 9:30
  get
• 9:30
  into
• 9:30
  that
• 9:31
  model,
• 9:31
  into
• 9:32
  BJ's
• 9:32
  and
• 9:32
  Costco,
• 9:33
  and
• 9:33
  it
• 9:34
  works
• 9:34
  for
• 9:34
  them.
• 9:35
  We
• 9:35
  are
• 9:35
  a
• 9:35
  proud
• 9:36
  Costco
• 9:36
  family
• 9:36
  at
• 9:37
  home
• 9:37
  as
• 9:37
  well.
• 9:37
  So
• 9:37
  we're
• 9:38
  visiting
• 9:38
  there
• 9:38
  every
• 9:38
  single
• 9:38
  week.
• 9:39
  And
• 9:39
  you've
• 9:39
  come
• 9:39
  to
• 9:40
  expect
• 9:40
  it
• 9:40
  there.
• 9:41
  You
• 9:41
  know
• 9:41
  what
• 9:41
  you're
• 9:41
  going
• 9:41
  to
• 9:41
  have.
• 9:42
  I
• 9:42
  think
• 9:42
  if
• 9:42
  you
• 9:42
  showed
• 9:42
  up
• 9:42
  into
• 9:43
  a
• 9:43
  Macy's
• 9:43
  on
• 9:43
  a
• 9:44
  Saturday
• 9:44
  afternoon
• 9:44
  and
• 9:45
  you
• 9:45
  experience
• 9:45
  that
• 9:46
  type
• 9:46
  of
• 9:46
  friction,
• 9:47
  that's
• 9:47
  not
• 9:47
  what
• 9:47
  you're
• 9:47
  accustomed
• 9:47
  to.
• 9:48
  And
• 9:48
  I
• 9:48
  think
• 9:48
  that'd
• 9:48
  be
• 9:49
  difficult
• 9:49
  for
• 9:49
  the
• 9:49
  consumer.
• 9:50
  Yeah,
• 9:50
  I
• 9:50
  think
• 9:50
  it'd
• 9:50
  be
• 9:50
  really
• 9:50
  difficult
• 9:51
  to
• 9:51
  transition
• 9:51
  those
• 9:51
  customers.
• 9:52
  I
• 9:52
  think
• 9:52
  they're
• 9:52
  used
• 9:52
  to
• 9:53
  it
• 9:53
  in
• 9:53
  those
• 9:53
  environments
• 9:54
  and
• 9:55
  I
• 9:55
  don't
• 9:55
  think
• 9:55
  you'll
• 9:55
  see
• 9:55
  it.
• 9:56
  You're
• 9:56
  seeing
• 9:56
  a
• 9:56
  little
• 9:56
  bit
• 9:57
  of
• 9:57
  it
• 9:57
  in
• 9:57
  like
• 9:57
  Home
• 9:57
  Depot
• 9:58
  and
• 9:58
  Lowe's.
• 9:58
  Some
• 9:59
  of
• 9:59
  them
• 9:59
  have
• 9:59
  a
• 9:59
  little
• 9:59
  bit
• 9:59
  of
• 9:59
  that
• 10:00
  gate
• 10:00
  to
• 10:00
  manage
• 10:01
  traffic
• 10:01
  and
• 10:01
  where
• 10:01
  you
• 10:01
  can
• 10:02
  go
• 10:02
  in
• 10:02
  and
• 10:02
  where
• 10:02
  you
• 10:02
  can
• 10:02
  go
• 10:02
  out.
• 10:03
  But
• 10:03
  there's
• 10:04
  like
• 10:04
  a
• 10:04
  balance
• 10:04
  to
• 10:04
  the
• 10:05
  amount
• 10:05
  of
• 10:05
  friction
• 10:05
  you
• 10:05
  can
• 10:05
  actually
• 10:06
  create
• 10:06
  because
• 10:06
  you
• 10:06
  don't
• 10:07
  want
• 10:07
  to
• 10:07
  drive
• 10:07
  that
• 10:07
  customer
• 10:07
  away.
• 10:08
  You
• 10:08
  ultimately
• 10:09
  just
• 10:09
  want
• 10:09
  to
• 10:09
  drive
• 10:09
  away
• 10:09
  the
• 10:09
  bad
• 10:10
  customer
• 10:10
  from
• 10:10
  that
• 10:10
  location
• 10:11
  and
• 10:11
  make
• 10:11
  sure
• 10:11
  that
• 10:12
  the
• 10:12
  good
• 10:12
  customer
• 10:13
  has
• 10:13
  very
• 10:13
  little
• 10:14
  friction.
• 10:14
  Hence
• 10:14
  why
• 10:15
  you're
• 10:15
  singing
• 10:15
  about
• 10:15
  the
• 10:15
  technology
• 10:16
  of,
• 10:16
  you
• 10:16
  know,
• 10:16
  unlocking
• 10:17
  the
• 10:17
  cabinet
• 10:17
  with
• 10:17
  your
• 10:17
  phone
• 10:18
  as
• 10:18
  opposed
• 10:18
  to
• 10:18
  maybe
• 10:19
  requiring
• 10:19
  them
• 10:20
  to
• 10:20
  do
• 10:20
  something
• 10:20
  on
• 10:20
  entry.
• 10:20
  That's
• 10:21
  interesting.
• 10:21
  Okay.
• 10:21
  Yeah.
• 10:22
  Well,
• 10:22
  Joe,
• 10:23
  let's
• 10:23
  talk
• 10:23
  about
• 10:23
  the
• 10:23
  year
• 10:24
  ahead.
• 10:24
  What
• 10:25
  are
• 10:25
  your
• 10:25
  priorities
• 10:26
  and
• 10:26
  your
• 10:26
  team's
• 10:26
  priorities
• 10:27
  at
• 10:27
  Macy's
• 10:28
  as
• 10:28
  you
• 10:28
  think
• 10:28
  about
• 10:29
  the
• 10:29
  future
• 10:29
  of,
• 10:30
  of
• 10:30
  asset
• 10:31
  protection,
• 10:32
  of
• 10:32
  reducing
• 10:33
  or
• 10:33
  eliminating
• 10:34
  shrink.
• 10:35
  Yeah,
• 10:35
  I
• 10:35
  tell
• 10:35
  you,
• 10:35
  when
• 10:36
  I
• 10:36
  think
• 10:36
  about
• 10:36
  what
• 10:36
  2025
• 10:37
  has
• 10:37
  ahead,
• 10:37
  I
• 10:38
  can't.
• 10:38
  I'd
• 10:38
  be
• 10:39
  remiss
• 10:39
  if
• 10:39
  I
• 10:39
  didn't
• 10:39
  pause
• 10:40
  and
• 10:40
  say
• 10:40
  we've
• 10:40
  got
• 10:40
  to
• 10:40
  reflect
• 10:40
  back
• 10:41
  on
• 10:41
  2024
• 10:42
  and
• 10:42
  we
• 10:43
  got
• 10:43
  to
• 10:43
  do
• 10:43
  a
• 10:43
  good
• 10:43
  job
• 10:43
  of
• 10:44
  recognizing
• 10:44
  our
• 10:44
  team.
• 10:45
  So
• 10:45
  as
• 10:45
  we
• 10:45
  just
• 10:45
  talked
• 10:45
  about
• 10:46
  all
• 10:46
  that
• 10:46
  has
• 10:46
  been
• 10:46
  happening
• 10:47
  in
• 10:47
  retail,
• 10:47
  all
• 10:47
  of
• 10:48
  the
• 10:48
  violence,
• 10:49
  I'm
• 10:49
  incredibly
• 10:49
  proud
• 10:50
  of
• 10:50
  all
• 10:50
  of
• 10:50
  my
• 10:50
  teams
• 10:51
  and
• 10:51
  the
• 10:51
  work
• 10:51
  that
• 10:51
  they
• 10:51
  put
• 10:51
  forth
• 10:52
  every
• 10:52
  single
• 10:52
  day.
• 10:53
  If
• 10:53
  we
• 10:54
  don't
• 10:54
  focus
• 10:54
  on
• 10:54
  recognizing
• 10:55
  them
• 10:55
  for
• 10:55
  that,
• 10:56
  thanking
• 10:56
  them
• 10:56
  for
• 10:56
  that
• 10:57
  slow
• 10:57
  slowing
• 10:57
  down
• 10:57
  to
• 10:58
  make
• 10:58
  sure
• 10:58
  that
• 10:58
  that
• 10:58
  is
• 10:58
  meaningful.
• 10:59
  Before
• 10:59
  we
• 10:59
  start
• 11:00
  to
• 11:00
  instill
• 11:00
  our
• 11:00
  priorities
• 11:01
  and
• 11:01
  strategies
• 11:01
  for
• 11:01
  2025,
• 11:02
  we'll
• 11:03
  really
• 11:03
  miss
• 11:03
  the
• 11:03
  moment
• 11:04
  because
• 11:04
  it
• 11:04
  is
• 11:04
  incredible
• 11:05
  to
• 11:05
  have
• 11:05
  those
• 11:05
  teams
• 11:06
  showing
• 11:06
  up
• 11:06
  every
• 11:06
  single
• 11:07
  day.
• 11:07
  As
• 11:07
  I
• 11:07
  said,
• 11:08
  law
• 11:08
  enforcement
• 11:08
  doesn't
• 11:08
  want
• 11:08
  to
• 11:09
  do
• 11:09
  law
• 11:09
  enforcement.
• 11:09
  Imagine
• 11:10
  being
• 11:10
  an
• 11:10
  asset
• 11:10
  protection
• 11:11
  or
• 11:11
  loss
• 11:11
  prevention
• 11:12
  inside
• 11:12
  of
• 11:12
  a
• 11:12
  retailer
• 11:12
  right
• 11:12
  now.
• 11:13
  It
• 11:13
  is
• 11:13
  a
• 11:13
  difficult
• 11:13
  job
• 11:14
  to
• 11:14
  do
• 11:15
  and
• 11:15
  I'm
• 11:15
  incredibly
• 11:16
  appreciative
• 11:16
  and
• 11:17
  have
• 11:17
  a
• 11:17
  high
• 11:18
  amount
• 11:18
  of
• 11:18
  respect
• 11:19
  for
• 11:19
  all
• 11:19
  of
• 11:19
  the
• 11:19
  teams,
• 11:20
  not
• 11:20
  only
• 11:20
  just
• 11:20
  in
• 11:20
  Macy's,
• 11:21
  but
• 11:21
  around
• 11:21
  the
• 11:21
  industry.
• 11:22
  From
• 11:22
  our
• 11:22
  perspective
• 11:23
  on
• 11:23
  strategies,
• 11:24
  though,
• 11:24
  it's
• 11:24
  going
• 11:24
  to
• 11:24
  continue
• 11:25
  to
• 11:25
  be
• 11:25
  a
• 11:25
  focus
• 11:25
  on
• 11:26
  customer
• 11:26
  and
• 11:26
  colleague
• 11:26
  safety.
• 11:27
  Until
• 11:28
  we
• 11:28
  see
• 11:28
  that
• 11:28
  change
• 11:28
  in
• 11:29
  the
• 11:29
  industry,
• 11:29
  that
• 11:29
  has
• 11:30
  got
• 11:30
  to
• 11:30
  be
• 11:30
  our
• 11:30
  number
• 11:31
  one
• 11:31
  and
• 11:31
  we'll
• 11:31
  continue
• 11:31
  to
• 11:31
  build
• 11:32
  that
• 11:32
  out
• 11:32
  through
• 11:32
  training,
• 11:33
  technology.
• 11:33
  You're
• 11:34
  seeing
• 11:34
  things
• 11:34
  like
• 11:34
  body
• 11:35
  worn
• 11:35
  cameras.
• 11:36
  We're
• 11:36
  working
• 11:36
  with
• 11:36
  some
• 11:36
  of
• 11:37
  our
• 11:37
  communication
• 11:38
  device
• 11:38
  partners
• 11:38
  to
• 11:39
  get
• 11:39
  real
• 11:39
  time
• 11:40
  alerting
• 11:40
  and
• 11:40
  the
• 11:40
  ability
• 11:41
  to
• 11:41
  alert
• 11:42
  a
• 11:42
  people
• 11:42
  leader
• 11:43
  if
• 11:43
  you're
• 11:43
  in
• 11:43
  a
• 11:43
  risky
• 11:44
  situation.
• 11:44
  So
• 11:45
  everything
• 11:45
  we're
• 11:45
  doing
• 11:45
  right
• 11:46
  now
• 11:46
  is
• 11:46
  focused
• 11:47
  on
• 11:47
  that
• 11:47
  safety
• 11:47
  side
• 11:48
  of
• 11:48
  it,
• 11:48
  which
• 11:48
  also
• 11:49
  will
• 11:49
  have
• 11:49
  a
• 11:49
  positive
• 11:50
  impact
• 11:50
  on
• 11:50
  theft
• 11:51
  mitigation.
• 11:51
  So
• 11:52
  keeping
• 11:52
  an
• 11:52
  eye
• 11:52
  on
• 11:52
  both.
• 11:53
  Love
• 11:53
  that.
• 11:53
  Love
• 11:53
  that.
• 11:54
  Safety
• 11:54
  is
• 11:54
  still
• 11:54
  the
• 11:55
  first
• 11:55
  priority.
• 11:55
  That's
• 11:55
  a
• 11:56
  very
• 11:56
  key
• 11:56
  call
• 11:56
  out
• 11:56
  there.
• 11:57
  And,
• 11:57
  yeah,
• 11:57
  the
• 11:57
  stores,
• 11:58
  it's
• 11:58
  a
• 11:58
  thankless
• 11:58
  job,
• 11:59
  but
• 11:59
  you
• 11:59
  can't
• 11:59
  thank
• 11:59
  them
• 11:59
  enough,
• 12:00
  right,
• 12:00
  Joe?
• 12:00
  That's
• 12:00
  the
• 12:01
  way
• 12:01
  it
• 12:01
  goes.
• 12:01
  Well,
• 12:02
  Joe,
• 12:02
  thank
• 12:02
  you
• 12:02
  so
• 12:02
  much
• 12:02
  for
• 12:03
  joining
• 12:03
  us.
• 12:03
  Taking
• 12:03
  time
• 12:04
  out
• 12:04
  of
• 12:04
  your
• 12:04
  busy
• 12:04
  schedule.
• 12:05
  You
• 12:05
  came
• 12:05
  down
• 12:05
  from
• 12:06
  the
• 12:06
  headquarters
• 12:07
  here
• 12:07
  to
• 12:07
  meet
• 12:07
  with
• 12:07
  us
• 12:07
  and
• 12:08
  tour
• 12:08
  the
• 12:08
  NRF
• 12:09
  building
• 12:09
  and
• 12:09
  all
• 12:10
  the
• 12:10
  great
• 12:10
  technology
• 12:11
  on
• 12:11
  display
• 12:12
  here.
• 12:12
  And
• 12:12
  thanks
• 12:13
  to
• 12:13
  the
• 12:13
  Fusion
• 12:13
  Group
• 12:13
  for
• 12:14
  supporting
• 12:14
  our
• 12:14
  content
• 12:15
  throughout
• 12:15
  the
• 12:15
  show.
• 12:16
  That
• 12:16
  concludes
• 12:16
  our
• 12:16
  coverage
• 12:17
  for
• 12:17
  today,
• 12:17
  right?
• 12:18
  Yeah,
• 12:18
  that
• 12:18
  wraps
• 12:18
  us
• 12:18
  up.
• 12:19
  That
• 12:19
  wraps
• 12:19
  us
• 12:19
  up
• 12:19
  for
• 12:19
  day
• 12:19
  two.
• 12:20
  We'll
• 12:20
  be
• 12:20
  back
• 12:20
  tomorrow
• 12:21
  again,
• 12:21
  though,
• 12:21
  so
• 12:22
  rest
• 12:22
  assured,
• 12:22
  we'll
• 12:23
  be
• 12:23
  back
• 12:23
  here
• 12:23
  in
• 12:23
  booth
• 12:23
  4938
• 12:25
  until
• 12:25
  tomorrow,
• 12:25
  and
• 12:26
  be
• 12:26
  careful
• 12:26
  out
• 12:26
  there.