Latest / Omni Talk Retail / Instacart's Pricing Retreat + Amazon's Alexa Gets Hungry | Fast Five

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Instacart's Pricing Retreat + Amazon's Alexa Gets Hungry | Fast Five · Omni Talk Retail

• 0:01
  This
• 0:01
  episode
• 0:01
  of
• 0:01
  The
• 0:02
  OmniTalk
• 0:02
  Retail
• 0:03
  Fast
• 0:03
  5
• 0:03
  is
• 0:03
  brought
• 0:03
  to
• 0:03
  you
• 0:04
  by
• 0:04
  the
• 0:04
  A
• 0:04
  and
• 0:04
  M
• 0:05
  Consumer
• 0:05
  and
• 0:05
  Retail
• 0:05
  Group.
• 0:06
  The
• 0:06
  AM
• 0:06
  Consumer
• 0:06
  and
• 0:07
  Retail
• 0:07
  Group
• 0:07
  is
• 0:07
  a
• 0:07
  management
• 0:08
  consulting
• 0:08
  firm
• 0:08
  that
• 0:09
  tackles
• 0:09
  the
• 0:09
  most
• 0:09
  complex
• 0:10
  challenges
• 0:10
  and
• 0:11
  advances
• 0:11
  its
• 0:11
  clients,
• 0:12
  people
• 0:12
  and
• 0:12
  communities
• 0:13
  toward
• 0:14
  their
• 0:14
  maximum
• 0:14
  potential.
• 0:15
  CRG
• 0:16
  brings
• 0:16
  the
• 0:16
  experience,
• 0:17
  tools
• 0:17
  and
• 0:17
  operator
• 0:18
  like
• 0:18
  pragmatism
• 0:19
  to
• 0:19
  help
• 0:19
  retailers
• 0:20
  and
• 0:20
  consumer
• 0:20
  products
• 0:21
  companies
• 0:21
  be
• 0:21
  on
• 0:22
  the
• 0:22
  right
• 0:22
  side
• 0:22
  of
• 0:23
  disruption
• 0:24
  and
• 0:24
  miracle,
• 0:25
  the
• 0:25
  catalyst
• 0:25
  of
• 0:26
  commerce.
• 0:26
  Over
• 0:27
  450
• 0:27
  retailers
• 0:28
  are
• 0:28
  opening
• 0:28
  new
• 0:29
  revenue
• 0:29
  streams
• 0:30
  with
• 0:30
  marketplaces,
• 0:30
  dropship
• 0:31
  and
• 0:31
  retail
• 0:32
  media
• 0:32
  and
• 0:32
  succeeding.
• 0:33
  With
• 0:33
  Miracle,
• 0:34
  you
• 0:34
  can
• 0:34
  unlock
• 0:34
  more
• 0:34
  products,
• 0:35
  more
• 0:35
  partners
• 0:36
  and
• 0:36
  more
• 0:36
  profits
• 0:37
  without
• 0:37
  the
• 0:37
  heavy
• 0:38
  lifting.
• 0:38
  So
• 0:38
  what's
• 0:38
  holding
• 0:39
  you
• 0:39
  back?
• 0:39
  Visit
• 0:39
  mirakl.com
• 0:40
  to
• 0:41
  learn
• 0:41
  more.
• 0:41
  That's
• 0:41
  M
• 0:42
  I
• 0:42
  R
• 0:42
  A
• 0:42
  K
• 0:43
  L.com
• 0:44
  and
• 0:45
  Corso.
• 0:45
  Your
• 0:46
  stores
• 0:46
  are
• 0:46
  full
• 0:46
  of
• 0:47
  data,
• 0:47
  but
• 0:48
  are
• 0:48
  your
• 0:48
  teams
• 0:48
  acting
• 0:48
  on
• 0:49
  it?
• 0:49
  Corso
• 0:50
  turns
• 0:50
  retail
• 0:50
  data
• 0:51
  into
• 0:51
  personalized
• 0:52
  daily
• 0:52
  to
• 0:52
  dos
• 0:52
  that
• 0:53
  drive
• 0:53
  sales,
• 0:53
  reduce
• 0:54
  waste
• 0:54
  and
• 0:54
  improve
• 0:55
  execution.
• 0:56
  No
• 0:56
  fluff,
• 0:57
  just
• 0:57
  action.
• 0:58
  Help
• 0:58
  your
• 0:58
  managers
• 0:59
  focus
• 0:59
  on
• 0:59
  what
• 0:59
  matters
• 1:00
  most.
• 1:00
  Visit
• 1:00
  corso.com
• 1:02
  to
• 1:02
  see
• 1:02
  Intelligent
• 1:03
  management
• 1:03
  in
• 1:03
  motion
• 1:04
  and
• 1:04
  Infios.
• 1:05
  At
• 1:05
  Infios,
• 1:06
  they
• 1:06
  unite
• 1:06
  warehousing,
• 1:07
  transportation
• 1:08
  and
• 1:08
  order
• 1:08
  management
• 1:09
  into
• 1:09
  a
• 1:09
  seamless,
• 1:09
  adaptable
• 1:10
  network.
• 1:11
  Infios
• 1:11
  helps
• 1:12
  you
• 1:12
  stay
• 1:12
  ahead
• 1:12
  from
• 1:13
  promise
• 1:13
  to
• 1:13
  delivery
• 1:14
  and
• 1:14
  every
• 1:14
  step
• 1:15
  in
• 1:15
  between.
• 1:16
  To
• 1:16
  learn
• 1:16
  more,
• 1:16
  visit
• 1:17
  infios.com
• 1:18
  and
• 1:19
  Ocampo
• 1:19
  Capital
• 1:20
  Ocampo
• 1:20
  Capital
• 1:21
  is
• 1:21
  a
• 1:21
  venture
• 1:21
  capital
• 1:22
  firm
• 1:22
  founded
• 1:23
  by
• 1:23
  retail
• 1:23
  executives
• 1:24
  with
• 1:24
  the
• 1:24
  aim
• 1:24
  of
• 1:24
  helping
• 1:25
  early
• 1:25
  stage
• 1:25
  consumer
• 1:26
  businesses
• 1:26
  succeed
• 1:27
  through
• 1:27
  investment
• 1:28
  and
• 1:28
  operational
• 1:29
  support.
• 1:30
  Learn
• 1:30
  more@ocampo
• 1:31
  capital.com
• 1:33
  and
• 1:33
  finally,
• 1:33
  Voloc
• 1:34
  Veloc
• 1:34
  is
• 1:35
  a
• 1:35
  proven
• 1:35
  E
• 1:35
  grocery
• 1:36
  technology
• 1:36
  built
• 1:36
  by
• 1:37
  grocers
• 1:37
  for
• 1:38
  grocers.
• 1:38
  Exactly
• 1:39
  the
• 1:39
  type
• 1:39
  of
• 1:39
  technology
• 1:40
  we
• 1:40
  like
• 1:40
  here
• 1:40
  at
• 1:40
  Omnitalk.
• 1:41
  They
• 1:42
  unite
• 1:42
  proprietary
• 1:43
  software
• 1:43
  with
• 1:43
  right
• 1:43
  size
• 1:44
  automation
• 1:44
  to
• 1:45
  make
• 1:45
  same
• 1:45
  day
• 1:45
  delivery
• 1:46
  profitable.
• 1:47
  To
• 1:47
  learn
• 1:47
  more,
• 1:47
  visit
• 1:47
  belock.com
• 1:49
  that's
• 1:49
  V.
• 1:49
  E
• 1:49
  L
• 1:50
  O
• 1:50
  q.com
• 1:53
  hello
• 1:53
  and
• 1:54
  happy
• 1:54
  new
• 1:54
  year.
• 1:54
  You
• 1:55
  are
• 1:55
  listening
• 1:55
  to
• 1:55
  Omnitalk's
• 1:56
  Retail
• 1:57
  Fast
• 1:57
  Five,
• 1:57
  ranked
• 1:58
  in
• 1:58
  the
• 1:58
  top
• 1:58
  10%
• 1:58
  of
• 1:59
  all
• 1:59
  podcasts
• 1:59
  globally
• 2:00
  and
• 2:00
  currently
• 2:00
  the
• 2:00
  only
• 2:01
  retail
• 2:01
  podcast
• 2:02
  ranked
• 2:02
  in
• 2:02
  the
• 2:02
  top
• 2:02
  100
• 2:03
  of
• 2:03
  all
• 2:03
  business
• 2:04
  podcasts
• 2:04
  on
• 2:04
  Apple
• 2:05
  Podcasts.
• 2:05
  The
• 2:05
  Retail
• 2:06
  Fast
• 2:06
  Five
• 2:06
  is
• 2:07
  the
• 2:07
  podcast
• 2:07
  that
• 2:08
  we
• 2:08
  hope
• 2:08
  makes
• 2:08
  you
• 2:08
  feel
• 2:08
  a
• 2:09
  little
• 2:09
  smarter
• 2:09
  but
• 2:10
  most
• 2:10
  importantly
• 2:10
  a
• 2:11
  little
• 2:11
  happier
• 2:11
  each
• 2:11
  week
• 2:12
  too.
• 2:12
  And
• 2:12
  the
• 2:12
  Fast
• 2:13
  5
• 2:13
  is
• 2:13
  just
• 2:13
  one
• 2:13
  of
• 2:13
  the
• 2:14
  many
• 2:14
  great
• 2:14
  podcasts
• 2:14
  you
• 2:15
  can
• 2:15
  find
• 2:15
  from
• 2:15
  the
• 2:15
  Omnitalk
• 2:16
  Retail
• 2:16
  Podcast
• 2:16
  Network
• 2:17
  alongside
• 2:17
  our
• 2:18
  Retail
• 2:18
  Daily
• 2:18
  Minute
• 2:19
  which
• 2:19
  brings
• 2:19
  you
• 2:19
  a
• 2:19
  curated
• 2:20
  selection
• 2:20
  of
• 2:20
  the
• 2:20
  most
• 2:20
  important
• 2:21
  retail
• 2:21
  headlines
• 2:22
  every
• 2:22
  morning
• 2:23
  and
• 2:23
  our
• 2:23
  Retail
• 2:23
  Technology
• 2:24
  Spotlight
• 2:24
  series
• 2:25
  which
• 2:25
  goes
• 2:25
  deep
• 2:25
  each
• 2:26
  week
• 2:26
  on
• 2:26
  the
• 2:26
  latest
• 2:27
  retail
• 2:27
  technology
• 2:28
  trends.
• 2:28
  It's
• 2:29
  January
• 2:29
  7,
• 2:30
  2026,
• 2:31
  our
• 2:31
  first
• 2:31
  show
• 2:32
  of
• 2:32
  the
• 2:32
  New
• 2:32
  Year.
• 2:32
  I'm
• 2:33
  one
• 2:33
  of
• 2:33
  your
• 2:33
  hosts,
• 2:33
  San
• 2:33
  Mazinga.
• 2:35
  And
• 2:35
  I'm
• 2:35
  Chris
• 2:35
  Walton.
• 2:36
  And
• 2:36
  we
• 2:36
  are
• 2:37
  here
• 2:37
  once
• 2:37
  again
• 2:37
  to
• 2:37
  discuss
• 2:38
  all
• 2:38
  the
• 2:38
  top
• 2:38
  headlines
• 2:39
  from
• 2:39
  the
• 2:39
  past
• 2:40
  week
• 2:41
  and
• 2:41
  weeks,
• 2:41
  making
• 2:42
  waves
• 2:42
  in
• 2:42
  the
• 2:42
  world
• 2:43
  of
• 2:43
  omnichannel
• 2:44
  retailing.
• 2:45
  Chris,
• 2:45
  to
• 2:46
  kick
• 2:46
  us
• 2:46
  off,
• 2:47
  some
• 2:47
  of
• 2:47
  the
• 2:47
  listeners
• 2:47
  may
• 2:47
  have
• 2:48
  heard
• 2:48
  in
• 2:48
  the
• 2:48
  introduction
• 2:49
  that
• 2:50
  we
• 2:50
  have
• 2:50
  a
• 2:50
  new
• 2:50
  sponsor
• 2:51
  in
• 2:51
  2026,
• 2:52
  but
• 2:52
  Valox.
• 2:52
  So
• 2:53
  maybe,
• 2:53
  maybe
• 2:53
  would
• 2:54
  you
• 2:54
  mind
• 2:54
  telling
• 2:54
  the
• 2:55
  audience
• 2:55
  a
• 2:55
  little
• 2:55
  bit
• 2:55
  about
• 2:56
  them?
• 2:56
  Yes,
• 2:57
  absolutely.
• 2:57
  And
• 2:58
  Valak
• 2:58
  is
• 2:59
  part
• 2:59
  of
• 2:59
  their
• 2:59
  division
• 3:00
  of
• 3:00
  the
• 3:00
  Rollick
• 3:00
  Group,
• 3:01
  which
• 3:01
  is
• 3:01
  an
• 3:01
  E
• 3:01
  Commerce
• 3:02
  grocer
• 3:02
  out
• 3:03
  of
• 3:03
  of
• 3:04
  Europe.
• 3:04
  And
• 3:04
  they're
• 3:05
  actually
• 3:05
  doing
• 3:05
  E
• 3:05
  Commerce
• 3:06
  grocery
• 3:06
  profitably.
• 3:06
  And
• 3:07
  we're
• 3:07
  going
• 3:07
  to
• 3:07
  have
• 3:07
  Richard
• 3:08
  McKenzie,
• 3:08
  the
• 3:09
  CEO
• 3:09
  of
• 3:09
  a
• 3:09
  lock
• 3:09
  whose
• 3:10
  idea,
• 3:10
  whose
• 3:11
  basically
• 3:11
  goal
• 3:11
  is
• 3:12
  to
• 3:12
  take
• 3:12
  the
• 3:13
  technology
• 3:13
  that
• 3:13
  they're
• 3:14
  using
• 3:14
  to
• 3:14
  do
• 3:14
  that
• 3:14
  from
• 3:15
  the
• 3:15
  Roll
• 3:15
  It
• 3:15
  Group
• 3:15
  and
• 3:16
  bring
• 3:16
  it
• 3:16
  out
• 3:16
  to
• 3:16
  other
• 3:16
  grocers
• 3:17
  and
• 3:17
  retailers.
• 3:18
  And
• 3:18
  so
• 3:18
  we're
• 3:18
  going
• 3:19
  to
• 3:19
  have
• 3:19
  him
• 3:19
  on
• 3:19
  later
• 3:19
  in
• 3:20
  five
• 3:20
  insightful
• 3:20
  minutes
• 3:21
  to
• 3:21
  explain
• 3:21
  exactly
• 3:22
  how
• 3:22
  he,
• 3:23
  he
• 3:23
  goes
• 3:23
  about
• 3:23
  accomplishing
• 3:24
  that
• 3:24
  and
• 3:24
  is
• 3:25
  working
• 3:25
  with
• 3:25
  others
• 3:25
  to
• 3:25
  do
• 3:26
  that.
• 3:26
  So
• 3:26
  can't
• 3:26
  wait
• 3:27
  to
• 3:27
  have
• 3:27
  him
• 3:27
  on.
• 3:27
  And
• 3:27
  thanks
• 3:27
  to
• 3:28
  them
• 3:28
  for
• 3:28
  sponsoring
• 3:28
  our
• 3:28
  work.
• 3:29
  It's
• 3:29
  great
• 3:29
  to
• 3:29
  have
• 3:29
  them
• 3:29
  to
• 3:30
  start
• 3:30
  the
• 3:30
  year.
• 3:30
  Yeah.
• 3:31
  Can't
• 3:31
  think
• 3:31
  of
• 3:31
  a
• 3:31
  single
• 3:32
  grocery
• 3:32
  retailer
• 3:33
  that
• 3:33
  doesn't
• 3:33
  want
• 3:33
  to
• 3:33
  do
• 3:34
  E
• 3:34
  Commerce
• 3:34
  grocery
• 3:34
  profitably.
• 3:35
  So
• 3:36
  that's,
• 3:36
  that's
• 3:37
  a
• 3:37
  good
• 3:37
  one
• 3:37
  to
• 3:37
  have
• 3:38
  into
• 3:38
  the
• 3:38
  mix.
• 3:38
  So
• 3:39
  welcome
• 3:39
  Valak.
• 3:40
  Yeah,
• 3:41
  kind
• 3:41
  of
• 3:41
  an
• 3:41
  imperative.
• 3:42
  And,
• 3:42
  and
• 3:42
  if
• 3:42
  anyone
• 3:43
  wants
• 3:43
  to
• 3:43
  meet
• 3:43
  up
• 3:43
  with
• 3:43
  him
• 3:44
  at,
• 3:44
  at
• 3:45
  NR
• 3:46
  or
• 3:46
  FMI
• 3:47
  in
• 3:47
  the
• 3:47
  next
• 3:47
  couple
• 3:47
  weeks.
• 3:48
  I
• 3:48
  don't
• 3:48
  actually
• 3:48
  know
• 3:48
  if
• 3:48
  he's
• 3:49
  gonna
• 3:49
  be
• 3:49
  at
• 3:49
  fmi,
• 3:49
  but
• 3:49
  he's
• 3:49
  gonna
• 3:50
  definitely
• 3:50
  be
• 3:50
  at
• 3:50
  nrf.
• 3:50
  So,
• 3:51
  yeah,
• 3:52
  hit
• 3:52
  me
• 3:52
  up
• 3:52
  and
• 3:52
  I'll,
• 3:52
  I'll,
• 3:53
  I'll
• 3:53
  make
• 3:53
  sure
• 3:53
  you
• 3:53
  guys
• 3:54
  get
• 3:54
  connected.
• 3:54
  Well,
• 3:55
  speaking
• 3:55
  of
• 3:55
  nrf,
• 3:56
  we
• 3:56
  are
• 3:56
  heading
• 3:57
  there
• 3:57
  this
• 3:58
  weekend,
• 3:58
  so
• 3:59
  be
• 3:59
  sure
• 4:00
  Omnich
• 4:00
  fans
• 4:01
  to
• 4:01
  make
• 4:02
  sure
• 4:02
  to
• 4:02
  check
• 4:03
  out
• 4:03
  first
• 4:03
  our
• 4:04
  Omnitoch
• 4:04
  Must
• 4:04
  See
• 4:05
  Tech
• 4:05
  Preview,
• 4:05
  which
• 4:05
  will
• 4:06
  be
• 4:06
  airing
• 4:07
  Thursday,
• 4:08
  January
• 4:08
  8,
• 4:09
  tomorrow
• 4:10
  at
• 4:10
  12pm
• 4:11
  Eastern.
• 4:12
  And
• 4:13
  we
• 4:13
  will
• 4:13
  be
• 4:13
  bringing
• 4:14
  you
• 4:14
  interviews
• 4:15
  from
• 4:15
  some
• 4:15
  of
• 4:16
  retail's
• 4:16
  brightest
• 4:17
  and
• 4:17
  greatest
• 4:18
  from
• 4:18
  the
• 4:19
  Fusion
• 4:19
  group
• 4:19
  booth
• 4:20
  at
• 4:20
  4921
• 4:21
  on
• 4:21
  the
• 4:21
  expo
• 4:22
  floor.
• 4:22
  Come
• 4:22
  say
• 4:23
  hello.
• 4:23
  Come
• 4:23
  say
• 4:24
  hi
• 4:24
  to
• 4:24
  Chris
• 4:24
  and
• 4:24
  I
• 4:25
  and
• 4:25
  to
• 4:25
  the
• 4:25
  Fusion
• 4:26
  Group.
• 4:26
  We'll
• 4:26
  have
• 4:26
  our
• 4:26
  own
• 4:27
  recording
• 4:27
  studio
• 4:28
  there.
• 4:28
  We
• 4:28
  are
• 4:28
  so
• 4:29
  excited
• 4:29
  to
• 4:29
  bring
• 4:30
  you
• 4:30
  all
• 4:30
  of
• 4:30
  our
• 4:30
  coverage
• 4:31
  this
• 4:31
  year
• 4:31
  from
• 4:31
  NRF.
• 4:32
  All
• 4:33
  right,
• 4:33
  starting
• 4:33
  the
• 4:33
  year,
• 4:34
  happy
• 4:34
  new
• 4:34
  year.
• 4:35
  It's
• 4:35
  2026.
• 4:36
  In
• 4:36
  this
• 4:36
  week's
• 4:37
  Fast
• 4:37
  Five,
• 4:37
  we've
• 4:38
  got
• 4:38
  news
• 4:38
  on
• 4:38
  Kroger
• 4:39
  launching
• 4:39
  a
• 4:39
  new
• 4:40
  discount
• 4:40
  program
• 4:40
  to
• 4:41
  lure
• 4:41
  more
• 4:42
  snap
• 4:42
  recipients
• 4:43
  into
• 4:43
  its
• 4:43
  stores.
• 4:44
  Amazon
• 4:45
  launching
• 4:45
  a
• 4:45
  browser
• 4:46
  based
• 4:46
  Alexa
• 4:47
  plus
• 4:47
  for
• 4:47
  meal
• 4:47
  planning.
• 4:48
  Tried
• 4:48
  it
• 4:48
  out
• 4:48
  myself
• 4:49
  this
• 4:49
  morning.
• 4:49
  And
• 4:50
  Save
• 4:50
  Mart
• 4:51
  placing
• 4:51
  Amazon
• 4:51
  Returns
• 4:52
  kiosk
• 4:52
  within
• 4:53
  its
• 4:53
  stores.
• 4:53
  Snooks
• 4:54
  piloting
• 4:55
  a
• 4:55
  really
• 4:55
  interesting
• 4:55
  concept
• 4:56
  to
• 4:56
  combat
• 4:57
  gift
• 4:57
  card
• 4:57
  fraud.
• 4:58
  And
• 4:58
  as
• 4:58
  I
• 4:59
  mentioned
• 4:59
  at
• 4:59
  the
• 4:59
  outset,
• 4:59
  Velox
• 5:00
  CEO
• 5:00
  Richard
• 5:01
  McKenzie
• 5:01
  stops
• 5:02
  by
• 5:02
  to
• 5:02
  give
• 5:02
  us
• 5:02
  five
• 5:03
  insightful
• 5:03
  minutes
• 5:04
  on
• 5:04
  what
• 5:04
  it
• 5:04
  means
• 5:05
  to
• 5:05
  stand
• 5:05
  out
• 5:05
  and
• 5:06
  be
• 5:06
  profitable
• 5:07
  as
• 5:07
  an
• 5:07
  online
• 5:07
  grocer.
• 5:08
  But
• 5:08
  we
• 5:08
  begin
• 5:08
  today
• 5:09
  with
• 5:09
  some
• 5:10
  what
• 5:10
  I
• 5:10
  would
• 5:10
  call
• 5:10
  pricing
• 5:11
  CYA
• 5:12
  out
• 5:12
  of
• 5:12
  Instacart.
• 5:13
  And
• 5:14
  yes,
• 5:14
  what
• 5:15
  might
• 5:15
  not
• 5:15
  come
• 5:15
  as
• 5:15
  a
• 5:16
  surprise
• 5:16
  to
• 5:16
  many
• 5:16
  after
• 5:17
  our
• 5:17
  coverage
• 5:17
  of
• 5:17
  this
• 5:18
  story
• 5:18
  toward
• 5:18
  the
• 5:18
  end
• 5:19
  of
• 5:19
  last
• 5:19
  year.
• 5:19
  Headline
• 5:20
  number
• 5:20
  one
• 5:20
  is
• 5:20
  that
• 5:21
  Instacart
• 5:22
  says
• 5:22
  that
• 5:22
  it's
• 5:22
  ending
• 5:23
  a
• 5:23
  price
• 5:23
  testing
• 5:24
  program
• 5:24
  that
• 5:24
  allowed
• 5:25
  retailers
• 5:25
  to
• 5:25
  charge
• 5:26
  online
• 5:26
  shoppers
• 5:26
  different
• 5:27
  amounts
• 5:27
  for
• 5:27
  the
• 5:28
  same
• 5:28
  products,
• 5:28
  according
• 5:29
  to
• 5:29
  Grocery
• 5:30
  Dive.
• 5:30
  The
• 5:30
  decision
• 5:31
  comes
• 5:31
  just
• 5:31
  weeks
• 5:31
  after
• 5:32
  Instacart
• 5:32
  landed
• 5:33
  in
• 5:33
  the
• 5:33
  hot
• 5:33
  seat
• 5:33
  following
• 5:34
  an
• 5:34
  investigation
• 5:35
  by
• 5:35
  Consumer
• 5:36
  Reports
• 5:36
  and
• 5:36
  Groundwork
• 5:37
  Collaborative
• 5:37
  that
• 5:38
  found
• 5:38
  grocery
• 5:38
  prices
• 5:39
  could
• 5:39
  differ
• 5:39
  by
• 5:39
  as
• 5:40
  much
• 5:40
  as
• 5:40
  23%
• 5:42
  between
• 5:42
  customers
• 5:43
  on
• 5:43
  the
• 5:43
  E
• 5:44
  commerce
• 5:44
  platform.
• 5:45
  Instacart
• 5:45
  said
• 5:45
  that
• 5:46
  the
• 5:46
  report
• 5:46
  misclassified
• 5:47
  its
• 5:47
  tests
• 5:48
  as
• 5:48
  dynamic
• 5:48
  or
• 5:48
  surveillance
• 5:49
  pricing
• 5:49
  that
• 5:49
  utilized
• 5:50
  consumer
• 5:50
  data
• 5:51
  to
• 5:51
  update
• 5:51
  prices.
• 5:52
  The
• 5:52
  company
• 5:53
  said
• 5:53
  it
• 5:53
  was
• 5:53
  running
• 5:53
  short
• 5:54
  term
• 5:54
  randomized
• 5:55
  AB
• 5:55
  pricing
• 5:56
  experiments
• 5:56
  that
• 5:57
  were,
• 5:57
  quote,
• 5:58
  never
• 5:58
  based
• 5:58
  on
• 5:58
  supply
• 5:59
  or
• 5:59
  demand,
• 6:00
  personal
• 6:00
  data,
• 6:01
  demographics
• 6:01
  or
• 6:02
  individual
• 6:02
  shopping
• 6:03
  behavior.
• 6:03
  End
• 6:04
  quote.
• 6:04
  Retail
• 6:05
  partners
• 6:05
  can
• 6:06
  still
• 6:06
  set
• 6:06
  different
• 6:07
  prices
• 6:07
  for
• 6:07
  items,
• 6:08
  however,
• 6:09
  on
• 6:09
  a
• 6:09
  store
• 6:10
  by
• 6:10
  store
• 6:10
  basis
• 6:11
  on
• 6:11
  instacart,
• 6:12
  just
• 6:12
  as
• 6:12
  they
• 6:12
  can
• 6:13
  with
• 6:13
  physical
• 6:14
  stores,
• 6:14
  Instacart
• 6:15
  said
• 6:15
  Chris,
• 6:16
  this
• 6:16
  is
• 6:16
  now
• 6:17
  the
• 6:17
  A
• 6:18
  and
• 6:18
  M
• 6:18
  put
• 6:18
  you
• 6:18
  on
• 6:18
  the
• 6:18
  spot
• 6:19
  question
• 6:19
  first.
• 6:20
  Put
• 6:20
  you
• 6:20
  on
• 6:20
  the
• 6:20
  spot
• 6:20
  question
• 6:21
  of
• 6:21
  2026.
• 6:22
  A&M
• 6:23
  wants
• 6:23
  to
• 6:23
  know
• 6:24
  how
• 6:24
  should
• 6:25
  retailers
• 6:25
  and
• 6:26
  brands
• 6:26
  think
• 6:26
  about
• 6:26
  the
• 6:27
  trade
• 6:27
  off
• 6:27
  between
• 6:27
  sophisticated
• 6:28
  pricey
• 6:29
  experimentation
• 6:30
  and
• 6:30
  retaining
• 6:31
  long
• 6:31
  term
• 6:32
  customer
• 6:32
  trust,
• 6:32
  especially
• 6:33
  in
• 6:34
  an
• 6:34
  increasingly
• 6:34
  AI
• 6:35
  driven
• 6:35
  retail
• 6:35
  environment?
• 6:37
  Oh
• 6:37
  wow.
• 6:37
  Wow.
• 6:38
  We
• 6:38
  start
• 6:38
  off,
• 6:38
  we
• 6:38
  start
• 6:39
  off
• 6:39
  hot.
• 6:39
  In
• 6:39
  2026.
• 6:40
  I
• 6:40
  get
• 6:40
  the
• 6:40
  first
• 6:40
  put
• 6:41
  you
• 6:41
  on
• 6:41
  the
• 6:41
  spot
• 6:41
  question
• 6:42
  for
• 6:42
  the
• 6:42
  very
• 6:42
  first
• 6:42
  headline.
• 6:43
  Lucky
• 6:43
  me.
• 6:44
  All
• 6:44
  right,
• 6:44
  well,
• 6:45
  I'll
• 6:45
  get
• 6:45
  to
• 6:45
  that.
• 6:45
  I'll
• 6:45
  get
• 6:45
  to
• 6:45
  my
• 6:46
  answer
• 6:46
  to
• 6:46
  that
• 6:46
  in
• 6:46
  a
• 6:46
  second.
• 6:47
  But
• 6:47
  first,
• 6:48
  you
• 6:48
  know,
• 6:48
  I'm
• 6:48
  glad
• 6:48
  this
• 6:49
  topic's
• 6:49
  leading
• 6:49
  the
• 6:49
  show
• 6:50
  because
• 6:50
  I
• 6:50
  think
• 6:50
  there's
• 6:51
  much
• 6:51
  more
• 6:51
  conversation
• 6:52
  to
• 6:52
  be
• 6:52
  had
• 6:52
  around
• 6:52
  it
• 6:52
  than
• 6:53
  we
• 6:53
  had,
• 6:53
  you
• 6:54
  know,
• 6:54
  a
• 6:54
  couple
• 6:54
  weeks
• 6:54
  ago.
• 6:55
  You
• 6:56
  know,
• 6:56
  my
• 6:56
  initial
• 6:56
  inclination,
• 6:57
  Anne,
• 6:57
  is
• 6:57
  that
• 6:57
  Instacart
• 6:58
  had
• 6:58
  to
• 6:58
  do
• 6:59
  this.
• 6:59
  And
• 6:59
  for
• 6:59
  me
• 6:59
  it
• 6:59
  all
• 7:00
  comes
• 7:00
  down
• 7:00
  to
• 7:00
  cognitive
• 7:00
  dissonance.
• 7:01
  So
• 7:01
  like
• 7:02
  grocery
• 7:02
  shopping
• 7:03
  is
• 7:03
  different
• 7:03
  than
• 7:03
  how
• 7:03
  we
• 7:04
  buy
• 7:04
  airline
• 7:04
  tickets.
• 7:05
  We
• 7:05
  walk
• 7:05
  into
• 7:05
  the
• 7:05
  store
• 7:06
  same
• 7:06
  as
• 7:06
  everyone
• 7:06
  else
• 7:07
  and
• 7:07
  see
• 7:08
  one
• 7:08
  price
• 7:08
  on
• 7:08
  the
• 7:08
  shelf.
• 7:09
  Everyone
• 7:09
  knows
• 7:09
  that,
• 7:10
  which
• 7:10
  is
• 7:10
  why
• 7:11
  the
• 7:11
  whole
• 7:11
  thing
• 7:11
  makes
• 7:11
  people
• 7:12
  feel
• 7:12
  like
• 7:12
  they
• 7:13
  are
• 7:13
  being
• 7:13
  taken
• 7:13
  advantage
• 7:14
  of
• 7:14
  or
• 7:14
  taken
• 7:14
  advantage
• 7:15
  of
• 7:15
  or
• 7:15
  potentially
• 7:15
  being
• 7:16
  manipulated.
• 7:16
  So
• 7:17
  the
• 7:17
  right
• 7:17
  way
• 7:18
  to
• 7:18
  do
• 7:18
  this
• 7:18
  and
• 7:18
  to
• 7:18
  get
• 7:19
  to
• 7:19
  the
• 7:19
  question
• 7:19
  at
• 7:20
  hand
• 7:20
  to
• 7:20
  answer
• 7:21
  that
• 7:21
  from
• 7:21
  A
• 7:21
  and
• 7:21
  M
• 7:22
  is
• 7:23
  I
• 7:23
  don't
• 7:23
  think
• 7:23
  you
• 7:23
  make
• 7:24
  your
• 7:24
  prices
• 7:24
  different,
• 7:25
  but
• 7:25
  you
• 7:26
  make
• 7:26
  your
• 7:26
  discounts
• 7:27
  different.
• 7:27
  You
• 7:27
  leverage
• 7:28
  your
• 7:28
  retail
• 7:28
  media
• 7:28
  networks
• 7:29
  via
• 7:29
  discounting.
• 7:31
  As
• 7:31
  more
• 7:31
  volume
• 7:32
  moves
• 7:32
  online.
• 7:33
  Far
• 7:33
  few
• 7:34
  people,
• 7:34
  I
• 7:34
  think
• 7:34
  this
• 7:35
  is
• 7:35
  my
• 7:35
  opinion,
• 7:35
  if
• 7:36
  any,
• 7:36
  honestly
• 7:37
  would
• 7:37
  have
• 7:37
  a
• 7:37
  problem
• 7:38
  with
• 7:38
  getting
• 7:38
  served
• 7:38
  up
• 7:39
  discounts.
• 7:39
  And
• 7:40
  cognitively
• 7:41
  it's
• 7:41
  already
• 7:41
  happening
• 7:42
  by
• 7:42
  way
• 7:42
  of
• 7:43
  individualized
• 7:43
  reward
• 7:44
  schemes
• 7:44
  and
• 7:45
  also
• 7:45
  through
• 7:45
  display
• 7:46
  advertising.
• 7:46
  So
• 7:47
  it's
• 7:47
  just
• 7:47
  an
• 7:47
  evolution
• 7:47
  in
• 7:48
  that,
• 7:48
  in
• 7:49
  that
• 7:49
  arena.
• 7:49
  That's
• 7:50
  where
• 7:50
  I'd
• 7:50
  be
• 7:50
  putting
• 7:50
  my
• 7:51
  focus
• 7:51
  and
• 7:51
  my
• 7:51
  time
• 7:52
  to
• 7:52
  get
• 7:52
  the
• 7:52
  most
• 7:53
  out
• 7:53
  of
• 7:53
  my
• 7:53
  pricing
• 7:53
  strategies.
• 7:54
  Yeah,
• 7:55
  I
• 7:55
  think
• 7:55
  that
• 7:55
  makes
• 7:55
  sense
• 7:56
  and
• 7:56
  I
• 7:57
  think
• 7:57
  I
• 7:57
  agree
• 7:57
  we'll
• 7:58
  start
• 7:58
  to
• 7:58
  see
• 7:58
  more
• 7:59
  retailers
• 7:59
  go
• 7:59
  this
• 8:00
  way.
• 8:00
  You
• 8:00
  know,
• 8:00
  it's,
• 8:01
  it's,
• 8:01
  I
• 8:02
  give
• 8:02
  you
• 8:02
  my
• 8:02
  loyalty
• 8:03
  or
• 8:03
  my
• 8:03
  information,
• 8:04
  you
• 8:04
  give
• 8:05
  me
• 8:05
  a
• 8:05
  deal
• 8:05
  that's
• 8:06
  catered
• 8:06
  specifically
• 8:06
  to
• 8:07
  me
• 8:07
  and
• 8:07
  my
• 8:07
  shopping
• 8:08
  behaviors.
• 8:08
  I
• 8:08
  think
• 8:08
  that
• 8:08
  feels,
• 8:09
  definitely
• 8:09
  feels
• 8:10
  much
• 8:10
  more
• 8:10
  acceptable
• 8:11
  from
• 8:11
  a
• 8:11
  consumer
• 8:12
  standpoint,
• 8:13
  but
• 8:13
  I
• 8:13
  still
• 8:14
  don't
• 8:14
  know
• 8:14
  that
• 8:14
  I
• 8:14
  agree
• 8:14
  that
• 8:15
  grocery
• 8:15
  shopping
• 8:16
  online
• 8:17
  via
• 8:17
  Instacart
• 8:18
  is
• 8:18
  different
• 8:18
  than
• 8:19
  how
• 8:19
  we
• 8:19
  buy
• 8:19
  airline
• 8:20
  tickets.
• 8:20
  Like,
• 8:20
  I
• 8:21
  guess
• 8:21
  I'm
• 8:22
  less,
• 8:23
  I
• 8:23
  don't
• 8:23
  like
• 8:24
  how
• 8:24
  they
• 8:24
  were,
• 8:24
  how
• 8:24
  they
• 8:25
  were
• 8:25
  scheming
• 8:25
  and
• 8:25
  charging.
• 8:26
  But
• 8:26
  I
• 8:26
  think
• 8:26
  that
• 8:26
  the
• 8:26
  media
• 8:27
  has
• 8:27
  really
• 8:28
  blown
• 8:28
  this
• 8:28
  out
• 8:28
  of
• 8:28
  proportion.
• 8:29
  Like
• 8:29
  the
• 8:29
  same
• 8:30
  report
• 8:30
  said,
• 8:30
  oh,
• 8:31
  it
• 8:31
  costs
• 8:31
  customers
• 8:32
  twelve
• 8:32
  hundred
• 8:32
  dollars
• 8:32
  a.
• 8:33
  Well,
• 8:33
  that's,
• 8:34
  that's
• 8:34
  if
• 8:34
  you,
• 8:35
  you
• 8:35
  know,
• 8:35
  amortize
• 8:36
  that
• 8:36
  over
• 8:36
  the
• 8:36
  course
• 8:36
  of
• 8:37
  a
• 8:37
  year.
• 8:37
  This
• 8:37
  was
• 8:37
  a
• 8:37
  short
• 8:38
  term
• 8:38
  experiment,
• 8:39
  so
• 8:39
  I
• 8:40
  guess
• 8:40
  I
• 8:40
  don't
• 8:40
  have
• 8:40
  as
• 8:40
  much
• 8:41
  issue
• 8:41
  with
• 8:42
  it.
• 8:42
  We
• 8:42
  see
• 8:43
  retailers
• 8:43
  still
• 8:43
  doing
• 8:44
  this
• 8:44
  today.
• 8:44
  There's
• 8:44
  a
• 8:44
  different
• 8:45
  place
• 8:45
  online
• 8:46
  when
• 8:46
  I,
• 8:46
  you
• 8:46
  know,
• 8:46
  go
• 8:47
  on
• 8:47
  target.com
• 8:48
  and
• 8:48
  then
• 8:48
  I
• 8:48
  buy
• 8:48
  something
• 8:48
  in
• 8:49
  the
• 8:49
  store.
• 8:49
  Will
• 8:50
  they
• 8:50
  correct
• 8:50
  it
• 8:50
  for
• 8:50
  me
• 8:51
  if
• 8:51
  I
• 8:51
  bring
• 8:51
  it
• 8:51
  up?
• 8:51
  Sure.
• 8:52
  But
• 8:53
  I
• 8:53
  think
• 8:53
  there's
• 8:53
  still
• 8:54
  something
• 8:54
  to
• 8:54
  be
• 8:55
  said
• 8:55
  of
• 8:55
  having
• 8:55
  the
• 8:55
  con
• 8:56
  like
• 8:56
  Instacart
• 8:56
  is
• 8:56
  still
• 8:57
  a
• 8:57
  convenience
• 8:57
  to
• 8:58
  me.
• 8:58
  And
• 8:58
  so
• 8:58
  I
• 8:58
  think
• 8:59
  that,
• 9:00
  you
• 9:00
  know,
• 9:00
  I'm
• 9:00
  glad
• 9:01
  they're
• 9:01
  ending
• 9:01
  this
• 9:01
  program.
• 9:02
  I
• 9:02
  think
• 9:02
  going
• 9:02
  the
• 9:02
  loyalty
• 9:03
  scheme
• 9:03
  route
• 9:04
  makes
• 9:04
  a
• 9:04
  lot
• 9:04
  more
• 9:04
  sen.
• 9:05
  But
• 9:05
  I
• 9:06
  think
• 9:06
  the
• 9:06
  key
• 9:06
  here
• 9:07
  is
• 9:07
  really
• 9:07
  for
• 9:08
  retailers
• 9:08
  to
• 9:08
  be
• 9:08
  paying
• 9:09
  more
• 9:09
  attention
• 9:10
  to
• 9:10
  the
• 9:10
  fact
• 9:10
  that
• 9:11
  customers
• 9:12
  are
• 9:12
  more
• 9:13
  savvy
• 9:13
  when
• 9:13
  it
• 9:13
  comes
• 9:14
  to
• 9:14
  price
• 9:14
  transparency.
• 9:15
  They
• 9:15
  are
• 9:16
  looking
• 9:16
  now
• 9:16
  at
• 9:17
  grocery
• 9:17
  shopping
• 9:18
  the
• 9:18
  same
• 9:18
  way
• 9:18
  they're
• 9:18
  looking
• 9:19
  and
• 9:19
  comparing
• 9:19
  gas
• 9:20
  prices
• 9:20
  the
• 9:21
  same
• 9:21
  way
• 9:21
  they're
• 9:21
  comparing
• 9:22
  Uber
• 9:22
  and
• 9:22
  Lyft
• 9:22
  prices
• 9:23
  and,
• 9:23
  and
• 9:23
  airlines.
• 9:24
  You
• 9:24
  know,
• 9:24
  like
• 9:25
  this
• 9:25
  mentality
• 9:26
  is
• 9:26
  now
• 9:26
  available
• 9:26
  at
• 9:27
  consumers
• 9:27
  fingertips
• 9:28
  with
• 9:28
  some
• 9:28
  of
• 9:28
  the
• 9:28
  tools
• 9:28
  that
• 9:29
  we've
• 9:29
  talked
• 9:29
  about
• 9:29
  on
• 9:29
  this
• 9:30
  show
• 9:30
  to
• 9:31
  upload
• 9:31
  your,
• 9:31
  their
• 9:31
  grocery
• 9:32
  list
• 9:32
  to
• 9:32
  ChatGPT
• 9:33
  and
• 9:33
  find
• 9:33
  the
• 9:33
  best
• 9:34
  price
• 9:34
  available
• 9:35
  wherever
• 9:35
  they
• 9:35
  are
• 9:36
  or
• 9:36
  wherever
• 9:37
  they
• 9:37
  want
• 9:37
  to
• 9:37
  do
• 9:37
  their
• 9:37
  shopping.
• 9:38
  So
• 9:38
  I
• 9:38
  think
• 9:38
  that's
• 9:39
  the
• 9:39
  key
• 9:39
  takeaway.
• 9:39
  You
• 9:40
  have
• 9:40
  to
• 9:40
  think
• 9:41
  really
• 9:41
  long
• 9:41
  and
• 9:42
  hard
• 9:42
  about
• 9:42
  what
• 9:42
  your
• 9:42
  strategy
• 9:43
  is
• 9:43
  going
• 9:43
  to
• 9:43
  be.
• 9:44
  I
• 9:44
  like
• 9:44
  your
• 9:44
  option
• 9:45
  of
• 9:45
  the,
• 9:46
  the
• 9:46
  loyalty
• 9:46
  schemes
• 9:47
  instead
• 9:47
  of
• 9:47
  the
• 9:47
  variable
• 9:48
  pricing,
• 9:49
  but
• 9:49
  I
• 9:49
  still
• 9:50
  don't
• 9:50
  think
• 9:50
  that
• 9:50
  we'll
• 9:51
  see
• 9:51
  variable
• 9:51
  pricing
• 9:52
  go
• 9:52
  away
• 9:53
  completely.
• 9:54
  And
• 9:55
  I
• 9:55
  don't
• 9:55
  know
• 9:55
  that
• 9:55
  I'm
• 9:56
  upset,
• 9:56
  upset
• 9:56
  about
• 9:56
  that.
• 9:57
  When
• 9:57
  you're
• 9:57
  using
• 9:57
  something
• 9:58
  like
• 9:58
  Instacart.
• 9:59
  Yeah.
• 10:00
  So,
• 10:00
  okay,
• 10:00
  so
• 10:00
  you're
• 10:01
  kind
• 10:01
  of
• 10:01
  talking
• 10:01
  out
• 10:01
  of
• 10:01
  both
• 10:01
  sides
• 10:02
  of
• 10:02
  your
• 10:02
  mouth
• 10:02
  to
• 10:02
  be
• 10:02
  honest,
• 10:02
  because
• 10:03
  you're
• 10:03
  saying
• 10:03
  like
• 10:03
  you're
• 10:03
  okay
• 10:04
  with
• 10:04
  it.
• 10:04
  Actually
• 10:04
  you,
• 10:05
  it
• 10:05
  sounds
• 10:05
  like
• 10:05
  you
• 10:05
  as
• 10:05
  a
• 10:05
  consumer
• 10:06
  are
• 10:06
  okay
• 10:06
  with
• 10:07
  it,
• 10:07
  but
• 10:07
  then
• 10:08
  yet
• 10:08
  you
• 10:08
  like
• 10:08
  that
• 10:09
  Instacart
• 10:09
  is
• 10:09
  discontinuing
• 10:10
  the
• 10:10
  practice.
• 10:11
  So
• 10:11
  like,
• 10:11
  so
• 10:12
  help
• 10:12
  resolve
• 10:13
  that
• 10:13
  dichotomy.
• 10:14
  I
• 10:15
  think,
• 10:15
  I
• 10:15
  think
• 10:15
  if
• 10:15
  you're
• 10:16
  going
• 10:16
  to
• 10:16
  shop
• 10:16
  via
• 10:17
  Instacart,
• 10:18
  you
• 10:18
  are
• 10:18
  paying
• 10:19
  a
• 10:19
  premium.
• 10:19
  It's
• 10:20
  a
• 10:20
  convenience.
• 10:20
  If
• 10:20
  you're
• 10:20
  shopping
• 10:21
  via
• 10:21
  Shipt,
• 10:21
  if
• 10:21
  you're
• 10:21
  shopping
• 10:22
  via
• 10:22
  any
• 10:22
  one
• 10:22
  of
• 10:23
  those
• 10:23
  programs,
• 10:24
  it's
• 10:24
  not
• 10:24
  walking
• 10:25
  into
• 10:25
  the
• 10:25
  store
• 10:26
  like
• 10:26
  you're
• 10:26
  talking
• 10:26
  about
• 10:27
  and
• 10:27
  you're
• 10:27
  looking
• 10:27
  at
• 10:28
  Heinz
• 10:28
  ketchup
• 10:28
  at,
• 10:29
  you
• 10:29
  know,
• 10:29
  the
• 10:30
  Kowalski's
• 10:31
  or
• 10:31
  Cub
• 10:31
  foods
• 10:32
  and
• 10:32
  you're
• 10:32
  looking
• 10:33
  at
• 10:33
  Target.
• 10:34
  It's,
• 10:34
  it's,
• 10:35
  that's
• 10:35
  a
• 10:36
  different
• 10:36
  shopping
• 10:37
  mentality.
• 10:37
  So
• 10:37
  to
• 10:38
  me,
• 10:38
  I
• 10:38
  think
• 10:38
  that
• 10:39
  if
• 10:39
  there's
• 10:39
  going
• 10:39
  to
• 10:40
  be
• 10:40
  a
• 10:40
  premium
• 10:40
  charged
• 10:41
  on,
• 10:42
  on
• 10:42
  somebody
• 10:42
  doing
• 10:43
  your
• 10:43
  grocery
• 10:43
  shopping
• 10:43
  for
• 10:44
  you,
• 10:44
  you
• 10:44
  should
• 10:44
  not
• 10:44
  expect
• 10:45
  price
• 10:45
  parity
• 10:46
  across
• 10:46
  the
• 10:46
  board.
• 10:47
  But
• 10:48
  that's
• 10:48
  not
• 10:48
  what
• 10:48
  this
• 10:48
  is
• 10:49
  about.
• 10:49
  This
• 10:49
  is
• 10:49
  about,
• 10:50
  this
• 10:50
  is
• 10:50
  about
• 10:51
  you
• 10:51
  electing
• 10:52
  to
• 10:52
  use
• 10:52
  in.
• 10:53
  You
• 10:53
  say
• 10:53
  you
• 10:54
  electing
• 10:54
  to
• 10:54
  use
• 10:54
  Instacart
• 10:55
  and
• 10:55
  then
• 10:55
  me
• 10:55
  electing
• 10:56
  use
• 10:56
  Instacart
• 10:56
  and
• 10:56
  me
• 10:57
  getting
• 10:57
  a
• 10:57
  different
• 10:57
  price
• 10:57
  from
• 10:58
  you
• 10:58
  for
• 10:58
  using
• 10:58
  it.
• 10:59
  I
• 10:59
  mean,
• 11:00
  it's
• 11:00
  happening,
• 11:00
  it
• 11:01
  happens
• 11:01
  with
• 11:01
  all
• 11:01
  kinds
• 11:02
  of
• 11:02
  convenience
• 11:03
  products.
• 11:03
  Like
• 11:03
  I
• 11:03
  just,
• 11:03
  I
• 11:04
  mean
• 11:04
  the
• 11:04
  same
• 11:04
  thing
• 11:04
  happens
• 11:05
  with
• 11:05
  Uber.
• 11:05
  Are
• 11:05
  you
• 11:05
  getting
• 11:06
  upset
• 11:06
  because
• 11:06
  an
• 11:06
  Uber
• 11:07
  costs
• 11:07
  you
• 11:07
  one
• 11:07
  price
• 11:08
  and
• 11:08
  cost
• 11:08
  me
• 11:08
  one
• 11:09
  price?
• 11:09
  No,
• 11:09
  we're
• 11:10
  all
• 11:10
  at
• 11:10
  the,
• 11:11
  It's
• 11:11
  a
• 11:11
  convenience
• 11:12
  thing
• 11:12
  for
• 11:12
  us.
• 11:12
  So
• 11:12
  I
• 11:13
  think
• 11:13
  there's.
• 11:14
  Instacart
• 11:15
  has
• 11:15
  to
• 11:15
  make
• 11:15
  money.
• 11:16
  How
• 11:16
  are
• 11:16
  they
• 11:17
  going
• 11:17
  to
• 11:17
  make
• 11:17
  money?
• 11:17
  It's
• 11:18
  going
• 11:18
  to
• 11:18
  be
• 11:18
  based
• 11:18
  on
• 11:19
  supply
• 11:19
  and
• 11:19
  demand.
• 11:20
  And
• 11:20
  so
• 11:20
  I
• 11:20
  guess
• 11:21
  I
• 11:21
  don't,
• 11:21
  I
• 11:22
  guess
• 11:22
  I
• 11:22
  don't
• 11:23
  take
• 11:24
  as
• 11:24
  much
• 11:24
  issue
• 11:24
  with
• 11:25
  it
• 11:26
  in
• 11:26
  a
• 11:26
  convenience
• 11:27
  setting
• 11:28
  when
• 11:28
  it's
• 11:28
  something
• 11:29
  for
• 11:30
  you.
• 11:30
  Yeah.
• 11:30
  So
• 11:30
  if
• 11:30
  you're
• 11:30
  instigated
• 11:31
  that
• 11:31
  should
• 11:31
  you
• 11:31
  just
• 11:32
  held
• 11:32
  your
• 11:32
  ground.
• 11:34
  I
• 11:34
  don't,
• 11:34
  I
• 11:35
  think
• 11:35
  there,
• 11:36
  I
• 11:36
  feel
• 11:36
  like
• 11:36
  there's
• 11:37
  still
• 11:37
  some,
• 11:37
  there
• 11:38
  was
• 11:38
  some
• 11:38
  manipulation
• 11:39
  happening
• 11:40
  here
• 11:40
  in
• 11:41
  the
• 11:41
  way
• 11:41
  that
• 11:41
  they
• 11:41
  were
• 11:41
  doing
• 11:42
  it.
• 11:43
  But
• 11:43
  I
• 11:43
  would
• 11:44
  have,
• 11:44
  I
• 11:44
  think
• 11:44
  I
• 11:44
  would
• 11:44
  have
• 11:44
  held
• 11:45
  my
• 11:45
  ground
• 11:45
  a
• 11:45
  little
• 11:45
  bit
• 11:45
  more
• 11:45
  if
• 11:46
  I
• 11:46
  was
• 11:46
  Instacart.
• 11:46
  And
• 11:47
  I
• 11:47
  know
• 11:47
  that's
• 11:47
  probably
• 11:47
  not
• 11:48
  a
• 11:48
  popular
• 11:48
  opinion,
• 11:49
  but,
• 11:50
  but
• 11:51
  Instacart's
• 11:51
  a
• 11:52
  business.
• 11:52
  They
• 11:52
  have
• 11:52
  to
• 11:52
  still
• 11:53
  try
• 11:53
  to
• 11:53
  make
• 11:53
  money.
• 11:54
  There's
• 11:55
  a
• 11:55
  lot
• 11:55
  of
• 11:55
  people
• 11:55
  that
• 11:55
  are
• 11:56
  going
• 11:56
  to
• 11:56
  choose
• 11:56
  not
• 11:56
  to
• 11:56
  use
• 11:56
  Instacart
• 11:57
  as
• 11:57
  a
• 11:57
  result
• 11:58
  of
• 11:58
  this.
• 11:58
  And
• 11:59
  that's
• 11:59
  a
• 12:00
  repercussion
• 12:00
  that
• 12:00
  Instacart's
• 12:01
  going
• 12:01
  to
• 12:01
  have
• 12:01
  to
• 12:01
  consider.
• 12:01
  And
• 12:02
  I
• 12:02
  think
• 12:02
  actually
• 12:02
  positions
• 12:03
  the
• 12:03
  grocery
• 12:03
  retailers
• 12:04
  in
• 12:04
  an
• 12:04
  even
• 12:04
  better
• 12:05
  spot
• 12:05
  to
• 12:05
  do
• 12:05
  their
• 12:05
  own
• 12:05
  fulfillment,
• 12:07
  which
• 12:07
  we'll
• 12:07
  talk
• 12:08
  about
• 12:08
  in
• 12:08
  a
• 12:08
  little
• 12:08
  bit
• 12:09
  because
• 12:10
  customers
• 12:10
  are,
• 12:10
  are
• 12:11
  working
• 12:11
  specifically
• 12:12
  with
• 12:12
  one
• 12:12
  grocer
• 12:12
  versus,
• 12:13
  you
• 12:13
  know,
• 12:13
  going
• 12:13
  on
• 12:14
  Instacart.
• 12:14
  I
• 12:14
  need
• 12:14
  something
• 12:15
  last
• 12:15
  minute,
• 12:15
  I
• 12:15
  want
• 12:16
  it
• 12:16
  delivered.
• 12:17
  Yeah.
• 12:17
  And
• 12:17
  the
• 12:17
  other,
• 12:18
  the
• 12:18
  other
• 12:18
  factor
• 12:18
  here
• 12:19
  is
• 12:20
  we
• 12:20
  haven't
• 12:20
  even
• 12:20
  talked
• 12:20
  about
• 12:21
  the
• 12:21
  government
• 12:21
  side
• 12:21
  of
• 12:21
  this.
• 12:22
  The
• 12:22
  government
• 12:22
  gets
• 12:22
  involved
• 12:22
  in
• 12:23
  this.
• 12:23
  The
• 12:23
  government
• 12:24
  doesn't
• 12:24
  like
• 12:24
  this
• 12:24
  type
• 12:25
  of
• 12:25
  thing.
• 12:25
  And
• 12:25
  for,
• 12:26
  and
• 12:26
  in
• 12:26
  my
• 12:26
  opinion,
• 12:27
  for
• 12:27
  good
• 12:27
  reason
• 12:27
  because
• 12:27
  I
• 12:28
  actually
• 12:28
  disagree
• 12:28
  with
• 12:28
  you
• 12:28
  100%.
• 12:29
  I
• 12:29
  don't,
• 12:29
  I
• 12:29
  don't
• 12:30
  think,
• 12:30
  I
• 12:30
  don't
• 12:30
  think
• 12:30
  this,
• 12:31
  this
• 12:31
  works,
• 12:31
  particularly
• 12:32
  in
• 12:32
  the
• 12:32
  grocery
• 12:32
  arena
• 12:33
  because
• 12:33
  of
• 12:33
  the
• 12:33
  cognitive
• 12:33
  dissonance
• 12:34
  of
• 12:34
  when
• 12:34
  I
• 12:34
  go
• 12:35
  into
• 12:35
  a
• 12:35
  grocery
• 12:35
  store,
• 12:35
  I
• 12:36
  get
• 12:36
  the
• 12:36
  same
• 12:36
  price
• 12:36
  as
• 12:37
  everybody
• 12:37
  else,
• 12:37
  the
• 12:38
  same
• 12:38
  regular
• 12:38
  price.
• 12:39
  So.
• 12:39
  All
• 12:39
  right,
• 12:39
  headline
• 12:40
  number
• 12:40
  two.
• 12:40
  Kroger
• 12:41
  has
• 12:41
  launched
• 12:41
  a
• 12:41
  new
• 12:41
  discount
• 12:42
  program
• 12:42
  whereby
• 12:43
  people
• 12:43
  enrolled
• 12:44
  in
• 12:44
  SNAP,
• 12:44
  WIC,
• 12:45
  Medicaid
• 12:45
  or
• 12:45
  similar
• 12:46
  programs
• 12:46
  can
• 12:47
  get
• 12:47
  a
• 12:47
  20%
• 12:47
  discount
• 12:48
  on
• 12:48
  produce
• 12:49
  and
• 12:49
  half
• 12:49
  off
• 12:50
  the
• 12:50
  cost
• 12:50
  of
• 12:50
  the
• 12:50
  grocer's
• 12:51
  Boost
• 12:51
  membership
• 12:52
  program.
• 12:53
  According
• 12:53
  to
• 12:53
  a
• 12:53
  Kroger
• 12:54
  press
• 12:54
  release,
• 12:55
  customers
• 12:55
  can
• 12:55
  enroll
• 12:55
  in
• 12:56
  the
• 12:56
  program
• 12:56
  through
• 12:56
  Sheer
• 12:57
  id,
• 12:57
  an
• 12:57
  online
• 12:58
  verification
• 12:59
  service
• 12:59
  provider,
• 12:59
  and
• 13:00
  verification
• 13:00
  is
• 13:01
  valid
• 13:01
  for
• 13:01
  five
• 13:01
  months.
• 13:02
  Verified
• 13:03
  savings
• 13:03
  customers
• 13:03
  are
• 13:04
  also
• 13:04
  eligible
• 13:04
  for
• 13:04
  50%
• 13:05
  off
• 13:05
  annual
• 13:06
  and
• 13:06
  monthly
• 13:06
  Boost
• 13:06
  membership
• 13:07
  plans,
• 13:07
  including
• 13:08
  boost
• 13:08
  essential
• 13:09
  at
• 13:09
  $34.50
• 13:10
  per
• 13:10
  year
• 13:10
  or
• 13:11
  $4.50
• 13:12
  per
• 13:12
  month
• 13:12
  and
• 13:13
  boost
• 13:13
  at
• 13:14
  $49.50
• 13:15
  per
• 13:15
  year
• 13:15
  or
• 13:16
  $6.50
• 13:17
  per
• 13:17
  month.
• 13:18
  And
• 13:18
  little
• 13:18
  known
• 13:19
  fun
• 13:19
  fact,
• 13:19
  according
• 13:19
  to
• 13:20
  Grocery
• 13:20
  Dive,
• 13:20
  SNAP
• 13:21
  customers
• 13:21
  typically
• 13:21
  outspend
• 13:22
  their
• 13:23
  non
• 13:23
  Snap
• 13:24
  shopper
• 13:24
  counterparts
• 13:25
  on
• 13:25
  groceries.
• 13:26
  A
• 13:26
  fact
• 13:26
  I
• 13:26
  was
• 13:27
  not
• 13:27
  aware
• 13:27
  of.
• 13:28
  And
• 13:28
  what
• 13:28
  do
• 13:29
  you
• 13:29
  think
• 13:29
  the
• 13:29
  strategic
• 13:30
  rationale
• 13:30
  is
• 13:31
  behind
• 13:31
  Kroger's
• 13:31
  new
• 13:32
  discount
• 13:32
  program
• 13:33
  for
• 13:33
  Snap
• 13:33
  recipients?
• 13:34
  I
• 13:35
  actually
• 13:35
  think
• 13:35
  this
• 13:35
  is
• 13:35
  a
• 13:36
  really
• 13:36
  smart
• 13:37
  move
• 13:37
  from
• 13:37
  Kroger
• 13:38
  and
• 13:38
  something
• 13:38
  that
• 13:38
  they
• 13:39
  had
• 13:39
  to
• 13:39
  do
• 13:39
  because
• 13:40
  Aldi
• 13:41
  Walmart,
• 13:41
  they
• 13:42
  were
• 13:42
  eating
• 13:42
  Kroger's
• 13:43
  lunch
• 13:43
  when
• 13:43
  it
• 13:43
  came
• 13:43
  to
• 13:44
  their
• 13:44
  share
• 13:44
  of
• 13:45
  grocery,
• 13:45
  especially
• 13:46
  discounted
• 13:46
  grocery
• 13:47
  and
• 13:47
  produce.
• 13:48
  And
• 13:48
  so
• 13:48
  I
• 13:48
  think
• 13:49
  this
• 13:49
  means
• 13:49
  this
• 13:50
  looks
• 13:50
  to
• 13:50
  be
• 13:50
  a
• 13:51
  smart
• 13:51
  move
• 13:51
  for
• 13:51
  Kroger
• 13:52
  to
• 13:52
  attract
• 13:53
  a
• 13:53
  consistent
• 13:54
  customer
• 13:55
  base
• 13:55
  who
• 13:55
  I
• 13:55
  also
• 13:56
  didn't
• 13:56
  know.
• 13:56
  Apparently
• 13:57
  the
• 13:58
  SNAP
• 13:58
  recipients
• 13:59
  outspend
• 13:59
  their
• 13:59
  non
• 14:00
  SNAP
• 14:00
  counterparts.
• 14:01
  So
• 14:01
  I
• 14:01
  think
• 14:01
  this
• 14:02
  is
• 14:02
  going
• 14:02
  to
• 14:02
  be
• 14:02
  a
• 14:03
  direct
• 14:03
  hit
• 14:04
  and
• 14:05
  at
• 14:05
  Aldi
• 14:06
  and
• 14:06
  at
• 14:06
  Walmart.
• 14:07
  But
• 14:07
  the
• 14:07
  biggest
• 14:07
  challenges
• 14:08
  that
• 14:08
  I
• 14:08
  see
• 14:09
  in
• 14:09
  this
• 14:09
  and,
• 14:10
  and
• 14:10
  I
• 14:10
  think
• 14:10
  what
• 14:10
  Kroger
• 14:11
  will
• 14:11
  really
• 14:12
  have
• 14:12
  to
• 14:12
  invest
• 14:12
  in
• 14:13
  this
• 14:13
  is
• 14:13
  going
• 14:13
  to
• 14:13
  be
• 14:13
  a
• 14:13
  huge
• 14:14
  marketing
• 14:14
  push
• 14:14
  is
• 14:14
  to
• 14:15
  get
• 14:15
  awareness
• 14:16
  of
• 14:16
  this
• 14:16
  program
• 14:16
  out
• 14:17
  there.
• 14:17
  It's
• 14:17
  a
• 14:18
  great
• 14:18
  deal.
• 14:18
  There's
• 14:19
  the
• 14:19
  incentives
• 14:19
  are
• 14:20
  wonderful.
• 14:20
  20%
• 14:20
  off
• 14:21
  produce
• 14:21
  and
• 14:22
  a
• 14:22
  very
• 14:22
  discounted
• 14:23
  delivery
• 14:24
  program.
• 14:25
  Amazing
• 14:26
  opportunity
• 14:27
  for
• 14:27
  SNAP
• 14:27
  participants.
• 14:28
  But,
• 14:28
  but
• 14:29
  getting
• 14:29
  people
• 14:29
  to
• 14:29
  switch
• 14:30
  their
• 14:30
  routines
• 14:31
  is
• 14:31
  difficult.
• 14:32
  And
• 14:32
  so
• 14:32
  I
• 14:32
  think
• 14:32
  that
• 14:32
  they're
• 14:33
  really
• 14:33
  going
• 14:33
  to
• 14:33
  have
• 14:33
  to
• 14:34
  push
• 14:34
  how
• 14:35
  they're
• 14:35
  getting
• 14:35
  out
• 14:35
  there
• 14:36
  and
• 14:36
  trying
• 14:36
  to
• 14:37
  get
• 14:37
  this
• 14:37
  groundswell
• 14:38
  of
• 14:38
  people
• 14:39
  who
• 14:39
  are
• 14:39
  using
• 14:40
  SNAP
• 14:40
  benefits
• 14:40
  to
• 14:41
  understand
• 14:41
  this
• 14:42
  is
• 14:42
  the
• 14:42
  place
• 14:42
  to
• 14:42
  go.
• 14:43
  Kroger
• 14:43
  and
• 14:43
  the
• 14:44
  boost
• 14:44
  membership
• 14:44
  are
• 14:45
  very
• 14:45
  advantageous
• 14:46
  for
• 14:46
  you
• 14:46
  in
• 14:46
  a
• 14:46
  variety
• 14:47
  of
• 14:47
  ways.
• 14:47
  And
• 14:48
  I
• 14:48
  think
• 14:48
  that
• 14:49
  that
• 14:49
  could
• 14:49
  be
• 14:49
  a
• 14:49
  pretty
• 14:50
  big
• 14:50
  hurdle
• 14:50
  to
• 14:50
  get
• 14:51
  over.
• 14:51
  But
• 14:52
  there's.
• 14:52
  The
• 14:53
  incentive
• 14:53
  is
• 14:53
  certainly
• 14:54
  there.
• 14:55
  But
• 14:55
  Chris,
• 14:55
  what
• 14:55
  are
• 14:55
  your
• 14:56
  thoughts
• 14:56
  about
• 14:56
  it?
• 14:56
  Would
• 14:57
  you
• 14:57
  have
• 14:57
  advised
• 14:58
  Kroger
• 14:58
  to
• 14:59
  do
• 14:59
  this
• 14:59
  if
• 14:59
  you
• 14:59
  were,
• 15:00
  if
• 15:00
  you
• 15:00
  were.
• 15:00
  In
• 15:00
  the
• 15:00
  boardroom
• 15:01
  so
• 15:02
  net
• 15:02
  that
• 15:02
  you
• 15:02
  like
• 15:02
  it,
• 15:02
  you
• 15:03
  like
• 15:03
  it
• 15:03
  a
• 15:03
  lot?
• 15:03
  That's
• 15:03
  what
• 15:03
  I'm
• 15:04
  taking
• 15:04
  from
• 15:04
  this.
• 15:04
  I
• 15:04
  think
• 15:04
  from,
• 15:05
  from
• 15:05
  Kroger's
• 15:06
  perspective,
• 15:06
  yes,
• 15:06
  they,
• 15:06
  it
• 15:07
  was
• 15:07
  something
• 15:07
  that
• 15:07
  they
• 15:07
  had
• 15:08
  to
• 15:08
  do
• 15:08
  to
• 15:08
  try
• 15:09
  to
• 15:09
  gain
• 15:09
  share,
• 15:09
  especially
• 15:10
  with
• 15:10
  all
• 15:10
  the
• 15:10
  other
• 15:10
  things
• 15:10
  with
• 15:11
  Ocado,
• 15:11
  you
• 15:12
  know,
• 15:12
  that
• 15:12
  relationship
• 15:13
  sunsetting
• 15:14
  and
• 15:14
  all
• 15:14
  the
• 15:14
  other
• 15:14
  things
• 15:15
  that
• 15:15
  they
• 15:15
  have
• 15:15
  going
• 15:15
  on.
• 15:15
  I
• 15:15
  think
• 15:16
  to,
• 15:16
  to
• 15:16
  really
• 15:16
  get
• 15:17
  gain
• 15:17
  share
• 15:17
  again
• 15:18
  in
• 15:18
  relevance
• 15:18
  with,
• 15:19
  with
• 15:20
  a,
• 15:20
  a
• 15:20
  customer
• 15:21
  base
• 15:21
  that's
• 15:21
  concerned
• 15:22
  about
• 15:22
  price,
• 15:22
  they
• 15:22
  have
• 15:22
  to
• 15:23
  do
• 15:23
  it.
• 15:24
  Yeah,
• 15:24
  I
• 15:25
  actually,
• 15:25
  I
• 15:26
  100%
• 15:26
  disagree.
• 15:27
  I
• 15:27
  don't
• 15:27
  like
• 15:27
  this
• 15:27
  at
• 15:28
  all.
• 15:28
  I
• 15:29
  think
• 15:29
  when
• 15:29
  you're
• 15:29
  in
• 15:29
  a
• 15:29
  position
• 15:29
  where
• 15:30
  you're
• 15:30
  having
• 15:30
  to
• 15:30
  compete
• 15:30
  on
• 15:31
  price,
• 15:31
  particularly
• 15:32
  at
• 15:32
  this
• 15:32
  demographic,
• 15:33
  it's
• 15:33
  not
• 15:33
  a,
• 15:33
  it's
• 15:34
  not
• 15:34
  an
• 15:34
  advantageous
• 15:34
  position
• 15:35
  that
• 15:35
  I
• 15:35
  would
• 15:35
  want
• 15:35
  to
• 15:36
  be
• 15:36
  in
• 15:36
  if
• 15:36
  I'm
• 15:36
  Kroger.
• 15:38
  And
• 15:38
  you
• 15:38
  know,
• 15:38
  for
• 15:39
  that
• 15:39
  reason
• 15:39
  I
• 15:39
  agree
• 15:40
  with
• 15:40
  you
• 15:40
  in
• 15:40
  some
• 15:40
  things
• 15:40
  you
• 15:41
  said.
• 15:41
  I
• 15:41
  think
• 15:41
  this
• 15:41
  has
• 15:42
  Walmart
• 15:42
  and
• 15:42
  Aldi
• 15:43
  written
• 15:43
  all
• 15:43
  over
• 15:43
  it.
• 15:44
  You
• 15:45
  know,
• 15:45
  I
• 15:45
  think
• 15:45
  it's
• 15:45
  like,
• 15:46
  it's
• 15:46
  kind
• 15:46
  of
• 15:46
  like
• 15:46
  we're
• 15:47
  in
• 15:47
  the
• 15:47
  boardroom,
• 15:47
  we're
• 15:47
  looking
• 15:48
  forward
• 15:48
  and
• 15:48
  we
• 15:49
  don't
• 15:49
  like
• 15:49
  what
• 15:49
  we
• 15:49
  see.
• 15:50
  And
• 15:50
  it's
• 15:50
  potentially
• 15:50
  even
• 15:51
  a
• 15:51
  move
• 15:51
  of
• 15:51
  desperation.
• 15:52
  Because
• 15:52
  the
• 15:53
  aggressiveness,
• 15:54
  it's
• 15:54
  a
• 15:54
  very
• 15:54
  aggressive
• 15:55
  stance
• 15:55
  here
• 15:56
  that
• 15:56
  makes
• 15:56
  me
• 15:56
  think
• 15:56
  they're
• 15:57
  worried
• 15:57
  about
• 15:57
  losing
• 15:58
  share.
• 15:58
  We
• 15:58
  know
• 15:59
  from
• 15:59
  Brick
• 15:59
  meets
• 16:00
  clicks
• 16:00
  report
• 16:00
  last
• 16:01
  year,
• 16:01
  last
• 16:01
  month
• 16:02
  that
• 16:02
  Walmart
• 16:03
  is
• 16:03
  gaining
• 16:03
  share
• 16:03
  online,
• 16:04
  they're
• 16:04
  likely
• 16:04
  gaining
• 16:05
  share
• 16:05
  in
• 16:05
  store.
• 16:06
  Bloomberg
• 16:06
  just
• 16:06
  did
• 16:06
  the
• 16:07
  big
• 16:07
  article
• 16:07
  on
• 16:07
  Aldi
• 16:08
  yesterday
• 16:08
  too,
• 16:09
  so
• 16:09
  we
• 16:09
  know
• 16:09
  they're
• 16:09
  doing
• 16:10
  well.
• 16:10
  And
• 16:10
  my
• 16:11
  hunches,
• 16:11
  Kroger
• 16:11
  looks
• 16:12
  out
• 16:12
  and
• 16:12
  doesn't
• 16:12
  like
• 16:12
  what
• 16:13
  it
• 16:13
  sees.
• 16:13
  And
• 16:13
  so
• 16:14
  the
• 16:14
  other
• 16:14
  part
• 16:14
  I
• 16:15
  don't
• 16:15
  like
• 16:15
  about
• 16:15
  this,
• 16:15
  Ann,
• 16:16
  is
• 16:16
  once
• 16:16
  you
• 16:16
  do
• 16:17
  this
• 16:17
  for
• 16:17
  this
• 16:17
  base,
• 16:18
  a
• 16:18
  20%
• 16:19
  discount,
• 16:20
  that's
• 16:20
  really
• 16:20
  hard
• 16:20
  to
• 16:21
  unwind
• 16:21
  and
• 16:21
  that's
• 16:22
  going
• 16:22
  to
• 16:22
  be
• 16:22
  in
• 16:22
  your
• 16:22
  annual
• 16:22
  numbers
• 16:23
  year
• 16:23
  over
• 16:23
  year
• 16:24
  over
• 16:24
  year.
• 16:24
  And
• 16:24
  that's
• 16:24
  just
• 16:25
  going
• 16:25
  to
• 16:25
  be
• 16:25
  a
• 16:25
  continuing
• 16:26
  profit
• 16:26
  hit
• 16:27
  going
• 16:27
  forward.
• 16:27
  So
• 16:28
  I
• 16:28
  don't
• 16:28
  know,
• 16:29
  it
• 16:29
  seems
• 16:29
  drastic
• 16:30
  to
• 16:30
  me.
• 16:30
  I
• 16:30
  think,
• 16:31
  I
• 16:31
  think
• 16:31
  I
• 16:32
  applaud
• 16:33
  the
• 16:33
  compassion
• 16:33
  and
• 16:34
  what
• 16:34
  they're
• 16:34
  trying
• 16:34
  to
• 16:34
  do
• 16:34
  here
• 16:35
  in
• 16:35
  terms
• 16:35
  of
• 16:35
  the
• 16:35
  community
• 16:36
  that
• 16:36
  they're
• 16:36
  trying
• 16:36
  to
• 16:37
  help
• 16:37
  here
• 16:37
  by
• 16:37
  getting
• 16:38
  groceries
• 16:39
  that
• 16:39
  people
• 16:39
  need
• 16:40
  into
• 16:40
  their,
• 16:41
  into
• 16:41
  their
• 16:41
  homes
• 16:42
  less
• 16:42
  expensively.
• 16:43
  But
• 16:44
  I
• 16:44
  worry
• 16:44
  for
• 16:44
  Kroger
• 16:45
  in
• 16:45
  the
• 16:45
  long
• 16:45
  run,
• 16:46
  if
• 16:46
  this
• 16:46
  will
• 16:46
  play
• 16:46
  off
• 16:47
  and
• 16:47
  there
• 16:47
  wasn't
• 16:47
  a
• 16:47
  better
• 16:47
  way
• 16:48
  to
• 16:48
  accomplish
• 16:48
  something
• 16:49
  similar.
• 16:50
  What
• 16:50
  would
• 16:50
  you
• 16:50
  advise
• 16:51
  them
• 16:51
  to
• 16:51
  do
• 16:51
  then
• 16:51
  to
• 16:52
  compete
• 16:52
  against
• 16:52
  Walmart
• 16:53
  and
• 16:53
  Aldi?
• 16:54
  I
• 16:54
  don't
• 16:54
  know.
• 16:54
  I
• 16:54
  mean,
• 16:54
  I
• 16:55
  think
• 16:55
  that's,
• 16:55
  that's,
• 16:55
  that's
• 16:56
  a
• 16:56
  great
• 16:56
  question.
• 16:56
  Like,
• 16:57
  you've
• 16:57
  got
• 16:57
  to
• 16:57
  look
• 16:57
  at,
• 16:57
  you
• 16:58
  know,
• 16:58
  you,
• 16:58
  you
• 16:58
  mentioned
• 16:58
  the
• 16:59
  Okada
• 16:59
  relationship.
• 17:00
  They're
• 17:00
  trying
• 17:00
  to
• 17:00
  figure
• 17:00
  that
• 17:00
  out.
• 17:01
  They've
• 17:01
  got
• 17:01
  to
• 17:01
  figure
• 17:01
  out
• 17:02
  the
• 17:02
  pro,
• 17:02
  the
• 17:02
  economics
• 17:03
  and
• 17:03
  profits
• 17:03
  of
• 17:04
  that.
• 17:04
  But
• 17:04
  ultimately,
• 17:05
  at
• 17:05
  the
• 17:05
  end
• 17:05
  of
• 17:06
  the
• 17:06
  day,
• 17:06
  the
• 17:06
  real
• 17:06
  differentiation
• 17:07
  comes
• 17:07
  into
• 17:08
  the
• 17:08
  question
• 17:08
  we
• 17:08
  always
• 17:09
  ask
• 17:09
  on
• 17:09
  the
• 17:09
  store.
• 17:10
  Why
• 17:10
  am
• 17:10
  I
• 17:10
  coming
• 17:11
  to
• 17:11
  a
• 17:11
  Kroger
• 17:11
  store
• 17:12
  to
• 17:12
  begin
• 17:12
  with?
• 17:13
  Which
• 17:13
  is
• 17:13
  why
• 17:14
  I've
• 17:14
  actually
• 17:14
  always
• 17:15
  been
• 17:16
  kind
• 17:16
  of
• 17:16
  short
• 17:16
  on
• 17:16
  Kroger
• 17:17
  in
• 17:17
  the
• 17:17
  long
• 17:17
  run
• 17:18
  because
• 17:18
  I
• 17:18
  don't
• 17:18
  see
• 17:19
  them
• 17:19
  differentiating
• 17:20
  themselves
• 17:21
  five
• 17:21
  to
• 17:21
  ten
• 17:22
  years
• 17:22
  out.
• 17:22
  When
• 17:22
  you
• 17:23
  look
• 17:23
  at
• 17:23
  what
• 17:23
  Aldi
• 17:23
  can
• 17:24
  do,
• 17:24
  what
• 17:24
  Walmart
• 17:25
  can
• 17:25
  do
• 17:25
  and
• 17:25
  what
• 17:25
  some
• 17:25
  of
• 17:25
  the
• 17:26
  other
• 17:26
  competitors
• 17:26
  can
• 17:26
  do.
• 17:27
  And
• 17:27
  you
• 17:27
  have
• 17:27
  Amazon
• 17:28
  out
• 17:28
  there
• 17:28
  in
• 17:28
  the
• 17:28
  E
• 17:28
  commerce
• 17:29
  space,
• 17:29
  which
• 17:29
  we're
• 17:29
  going
• 17:29
  to
• 17:29
  talk
• 17:30
  about
• 17:30
  in
• 17:30
  the
• 17:30
  next
• 17:30
  couple
• 17:30
  of
• 17:30
  headlines,
• 17:31
  also
• 17:31
  doing
• 17:31
  what
• 17:32
  they're
• 17:32
  doing.
• 17:32
  So
• 17:33
  it's
• 17:33
  kind
• 17:33
  of
• 17:33
  a
• 17:34
  tough,
• 17:34
  it's
• 17:34
  a
• 17:34
  tough
• 17:34
  question
• 17:35
  to
• 17:35
  answer.
• 17:35
  I
• 17:35
  don't
• 17:36
  have
• 17:36
  the
• 17:36
  answer.
• 17:36
  It's
• 17:36
  kind
• 17:37
  of
• 17:37
  how
• 17:37
  I
• 17:37
  feel
• 17:37
  about
• 17:37
  the
• 17:37
  department
• 17:38
  stores
• 17:38
  as
• 17:38
  well.
• 17:39
  Like,
• 17:39
  it's
• 17:40
  just
• 17:40
  kind
• 17:40
  of
• 17:40
  a
• 17:40
  model
• 17:41
  that
• 17:41
  might
• 17:41
  be
• 17:41
  starting
• 17:41
  to
• 17:42
  lose
• 17:42
  its
• 17:42
  sway
• 17:43
  with
• 17:43
  the
• 17:43
  American
• 17:43
  consumer.
• 17:44
  And
• 17:44
  that's
• 17:44
  what
• 17:44
  concerns
• 17:45
  me.
• 17:46
  Yeah,
• 17:46
  that's,
• 17:46
  I
• 17:47
  mean,
• 17:47
  it's
• 17:47
  a
• 17:47
  It's
• 17:48
  a
• 17:48
  good
• 17:48
  point.
• 17:48
  I
• 17:48
  think
• 17:48
  there's
• 17:48
  a
• 17:49
  lot
• 17:49
  to
• 17:49
  be
• 17:50
  considered.
• 17:51
  The
• 17:51
  point
• 17:52
  I
• 17:52
  think
• 17:52
  that
• 17:52
  is
• 17:52
  most
• 17:52
  important
• 17:53
  that
• 17:53
  I
• 17:53
  would
• 17:54
  be
• 17:54
  looking
• 17:54
  at
• 17:54
  as
• 17:54
  KRoger
• 17:55
  Is
• 17:55
  this
• 17:55
  20%
• 17:56
  discount
• 17:57
  on
• 17:57
  the
• 17:57
  produce.
• 17:58
  How
• 17:58
  do
• 17:58
  you
• 17:59
  figure
• 17:59
  out
• 17:59
  like,
• 17:59
  I
• 17:59
  think
• 17:59
  right
• 18:00
  now
• 18:00
  it's
• 18:00
  only
• 18:00
  good
• 18:00
  for
• 18:01
  January
• 18:01
  or
• 18:02
  some,
• 18:02
  some
• 18:02
  shorter
• 18:03
  period
• 18:03
  of
• 18:03
  time.
• 18:04
  But
• 18:04
  I
• 18:04
  think
• 18:04
  how
• 18:05
  do
• 18:05
  you
• 18:05
  figure
• 18:05
  out
• 18:06
  to
• 18:06
  invest
• 18:07
  in
• 18:07
  keeping
• 18:08
  something
• 18:08
  like
• 18:08
  that
• 18:08
  available
• 18:09
  to
• 18:09
  these
• 18:10
  SNAP
• 18:10
  participants
• 18:11
  that
• 18:11
  because
• 18:11
  one
• 18:11
  month
• 18:12
  is
• 18:12
  not
• 18:12
  enough
• 18:13
  to
• 18:13
  carry
• 18:13
  this
• 18:13
  on
• 18:14
  like
• 18:14
  you,
• 18:14
  you
• 18:14
  have
• 18:14
  to
• 18:15
  take,
• 18:15
  you
• 18:15
  know,
• 18:15
  consider
• 18:16
  it
• 18:16
  like
• 18:16
  is
• 18:16
  this
• 18:16
  a
• 18:17
  marketing
• 18:17
  expense?
• 18:18
  Are
• 18:18
  we
• 18:18
  pulling
• 18:18
  from
• 18:18
  the
• 18:18
  marketing
• 18:19
  budget
• 18:19
  to
• 18:19
  compensate
• 18:20
  for
• 18:20
  this
• 18:20
  20%
• 18:21
  off
• 18:21
  that
• 18:21
  we're
• 18:21
  going
• 18:21
  to
• 18:22
  be
• 18:22
  giving
• 18:22
  people?
• 18:23
  It
• 18:24
  requires
• 18:24
  a
• 18:25
  completely
• 18:25
  new
• 18:25
  way
• 18:26
  of
• 18:26
  thinking
• 18:27
  for
• 18:27
  Kroger
• 18:27
  to,
• 18:28
  to
• 18:28
  still
• 18:28
  stay
• 18:28
  relevant.
• 18:29
  Which
• 18:29
  I
• 18:29
  think
• 18:29
  is,
• 18:29
  is
• 18:30
  a
• 18:30
  good
• 18:30
  point
• 18:30
  that
• 18:30
  you,
• 18:31
  you
• 18:31
  brought
• 18:31
  up
• 18:31
  there
• 18:32
  at
• 18:32
  the
• 18:32
  end.
• 18:33
  All
• 18:33
  right,
• 18:34
  let's
• 18:34
  go
• 18:34
  to
• 18:34
  headline
• 18:34
  number
• 18:34
  three.
• 18:35
  Amazon
• 18:36
  has
• 18:36
  integrated
• 18:37
  instant
• 18:38
  meal
• 18:38
  shopping
• 18:38
  into
• 18:38
  its
• 18:39
  browser
• 18:39
  based
• 18:39
  Alexa
• 18:40
  model.
• 18:41
  According
• 18:41
  to
• 18:41
  Chain
• 18:41
  storage,
• 18:42
  the
• 18:42
  latest
• 18:42
  version
• 18:42
  of
• 18:42
  the
• 18:43
  Amazon
• 18:43
  Alexa
• 18:44
  voice
• 18:44
  enabled
• 18:44
  device
• 18:45
  complete
• 18:45
  with
• 18:45
  meal
• 18:46
  planning
• 18:46
  and
• 18:46
  shopping
• 18:46
  features
• 18:47
  is
• 18:47
  available
• 18:48
  via
• 18:48
  browser.
• 18:49
  Initially
• 18:50
  introduced
• 18:50
  in
• 18:50
  February
• 18:51
  2025,
• 18:52
  Alexa
• 18:53
  combines
• 18:53
  more
• 18:53
  than
• 18:53
  70
• 18:54
  large
• 18:54
  language
• 18:54
  models
• 18:55
  and
• 18:55
  agentic
• 18:55
  capabilities
• 18:56
  supported
• 18:57
  by
• 18:57
  the
• 18:57
  Amazon
• 18:57
  Bedrock
• 18:58
  platform
• 18:58
  on
• 18:59
  Amazon
• 18:59
  Web
• 18:59
  Services.
• 19:00
  Functionality
• 19:01
  includes
• 19:01
  end
• 19:01
  to
• 19:02
  end
• 19:02
  meal
• 19:02
  planning
• 19:03
  and
• 19:04
  customers
• 19:04
  can
• 19:04
  also
• 19:05
  ask
• 19:05
  Alexa
• 19:06
  for
• 19:06
  a
• 19:06
  full
• 19:07
  week's
• 19:07
  menu
• 19:07
  and
• 19:07
  have
• 19:08
  a
• 19:08
  week
• 19:08
  breakfast,
• 19:09
  lunch
• 19:09
  and
• 19:09
  dinner
• 19:09
  options.
• 19:10
  With
• 19:10
  their
• 19:10
  personal
• 19:11
  preferences
• 19:11
  taken
• 19:12
  into
• 19:12
  account,
• 19:13
  customers
• 19:13
  can
• 19:14
  then
• 19:14
  ask
• 19:14
  Alexa
• 19:15
  to
• 19:15
  add
• 19:16
  every
• 19:16
  recommended
• 19:16
  item
• 19:17
  that
• 19:17
  they
• 19:17
  need
• 19:17
  to
• 19:17
  their
• 19:18
  Amazon
• 19:18
  Fresher
• 19:18
  Whole
• 19:19
  Foods
• 19:19
  Market
• 19:19
  cart
• 19:20
  ready
• 19:21
  to
• 19:21
  order.
• 19:21
  In
• 19:22
  addition,
• 19:22
  users
• 19:23
  can
• 19:23
  drop
• 19:24
  a
• 19:24
  recipe
• 19:24
  link
• 19:24
  into
• 19:25
  Alexa
• 19:25
  and
• 19:25
  ask
• 19:25
  it
• 19:26
  to
• 19:26
  customize
• 19:26
  the
• 19:26
  recipe
• 19:27
  to
• 19:27
  their
• 19:28
  specific
• 19:28
  dietary
• 19:29
  restrictions
• 19:29
  and
• 19:29
  add
• 19:30
  it
• 19:30
  to,
• 19:30
  to
• 19:30
  their
• 19:30
  recipe
• 19:31
  library.
• 19:32
  Shoppers
• 19:33
  can
• 19:33
  then
• 19:33
  convert
• 19:33
  the
• 19:34
  full
• 19:34
  recipe
• 19:34
  into
• 19:34
  ingredients
• 19:35
  and
• 19:35
  have
• 19:35
  them
• 19:35
  added
• 19:36
  to
• 19:36
  their
• 19:36
  shopping
• 19:36
  list.
• 19:37
  Chris,
• 19:37
  are
• 19:38
  you
• 19:38
  buying
• 19:38
  or
• 19:39
  selling
• 19:39
  the
• 19:39
  new
• 19:39
  Alexa
• 19:40
  plus
• 19:40
  browser
• 19:41
  edition
• 19:41
  for
• 19:41
  meal
• 19:42
  planning?
• 19:42
  And
• 19:42
  you
• 19:42
  actually
• 19:43
  tried
• 19:43
  this
• 19:43
  it
• 19:44
  sounds
• 19:44
  like.
• 19:44
  So
• 19:44
  I
• 19:44
  want
• 19:44
  to
• 19:45
  hear
• 19:45
  what
• 19:45
  your
• 19:45
  thoughts
• 19:46
  are.
• 19:46
  I
• 19:46
  did,
• 19:47
  I
• 19:47
  did,
• 19:47
  I
• 19:48
  did.
• 19:48
  I'm
• 19:48
  one
• 19:48
  of
• 19:48
  the
• 19:48
  new
• 19:48
  early
• 19:49
  users.
• 19:49
  It
• 19:49
  says,
• 19:50
  it
• 19:50
  says
• 19:50
  hey,
• 19:50
  welcome,
• 19:50
  you're
• 19:51
  a
• 19:51
  new
• 19:51
  early
• 19:51
  user.
• 19:52
  It's
• 19:52
  a
• 19:52
  great
• 19:52
  feeling
• 19:53
  to
• 19:53
  have
• 19:53
  this
• 19:53
  morning
• 19:54
  that
• 19:54
  I,
• 19:54
  that
• 19:55
  I
• 19:55
  received
• 19:55
  was
• 19:55
  trying
• 19:56
  it
• 19:56
  out.
• 19:56
  Yeah,
• 19:57
  I
• 19:57
  actually,
• 19:57
  it's,
• 19:58
  it's
• 19:58
  actually
• 19:58
  pretty
• 19:58
  darn
• 19:59
  slick
• 19:59
  and
• 20:00
  I'm
• 20:00
  actually,
• 20:00
  to
• 20:01
  answer
• 20:01
  your
• 20:01
  question,
• 20:01
  I'm
• 20:02
  buying
• 20:02
  this
• 20:03
  and
• 20:03
  it
• 20:03
  actually
• 20:04
  puts
• 20:04
  some
• 20:04
  gloss
• 20:04
  on
• 20:05
  Amazon's
• 20:05
  what
• 20:05
  I
• 20:05
  would
• 20:06
  call
• 20:06
  to
• 20:06
  date,
• 20:06
  lackluster
• 20:07
  grocery
• 20:08
  strategy.
• 20:08
  And
• 20:09
  number
• 20:09
  one,
• 20:10
  I
• 20:10
  find
• 20:10
  it's
• 20:10
  really
• 20:10
  interesting
• 20:11
  that
• 20:11
  Amazon
• 20:11
  is
• 20:11
  launching
• 20:12
  this
• 20:12
  and
• 20:12
  immediately
• 20:13
  talking
• 20:13
  about
• 20:13
  its
• 20:14
  use
• 20:14
  for
• 20:14
  meal
• 20:14
  planning
• 20:15
  like
• 20:15
  that's
• 20:15
  what
• 20:15
  they're
• 20:16
  talking
• 20:16
  about.
• 20:16
  That's
• 20:16
  crazy
• 20:17
  when
• 20:17
  you
• 20:17
  stop
• 20:17
  and
• 20:17
  think
• 20:18
  about
• 20:18
  it.
• 20:18
  That
• 20:18
  tells
• 20:19
  me
• 20:19
  Amazon
• 20:19
  is
• 20:19
  really,
• 20:20
  really
• 20:20
  jonesing
• 20:21
  to
• 20:21
  find
• 20:22
  growth
• 20:22
  out
• 20:22
  of
• 20:22
  grocery.
• 20:23
  They
• 20:23
  are
• 20:23
  a
• 20:23
  hundred
• 20:23
  percent
• 20:24
  want
• 20:24
  that
• 20:24
  business.
• 20:25
  Number
• 20:25
  two,
• 20:26
  Alexa
• 20:27
  has
• 20:27
  an
• 20:27
  installed
• 20:27
  user
• 20:28
  base
• 20:28
  and
• 20:28
  the
• 20:28
  Alexa
• 20:29
  owners
• 20:30
  like
• 20:30
  I
• 20:30
  think
• 20:30
  of,
• 20:31
  like
• 20:31
  our
• 20:31
  old
• 20:31
  buddy
• 20:31
  Carter
• 20:32
  Jensen
• 20:32
  used
• 20:32
  to
• 20:32
  be
• 20:32
  on
• 20:32
  the
• 20:33
  show
• 20:33
  a
• 20:33
  long
• 20:33
  time
• 20:33
  ago.
• 20:34
  They're
• 20:34
  probably
• 20:34
  likely
• 20:35
  the
• 20:35
  first
• 20:35
  adopters
• 20:36
  for
• 20:36
  this
• 20:36
  type
• 20:36
  of
• 20:37
  tech.
• 20:37
  So
• 20:37
  that
• 20:37
  is
• 20:37
  also
• 20:37
  a
• 20:38
  very
• 20:38
  good
• 20:38
  thing.
• 20:39
  Number
• 20:39
  three,
• 20:40
  no
• 20:40
  one
• 20:40
  knows
• 20:41
  which
• 20:41
  agentic
• 20:42
  AI
• 20:42
  interface
• 20:42
  for
• 20:43
  grocery
• 20:43
  shopping
• 20:43
  will
• 20:44
  win
• 20:44
  out
• 20:44
  and
• 20:44
  Amazon
• 20:45
  stands
• 20:45
  as
• 20:45
  good
• 20:46
  a
• 20:46
  chance
• 20:46
  as
• 20:46
  any
• 20:46
  to
• 20:47
  win
• 20:47
  that
• 20:47
  battle
• 20:47
  in
• 20:48
  my
• 20:48
  opinion,
• 20:48
  even
• 20:48
  though
• 20:48
  ChatGPT
• 20:49
  may
• 20:49
  have
• 20:49
  the
• 20:50
  early
• 20:50
  lead
• 20:50
  in
• 20:50
  terms
• 20:50
  of
• 20:51
  like
• 20:51
  brand
• 20:51
  recognition.
• 20:52
  So
• 20:53
  the
• 20:53
  co.
• 20:53
  The
• 20:53
  other
• 20:53
  part
• 20:53
  I
• 20:54
  like
• 20:54
  about
• 20:54
  this,
• 20:54
  the
• 20:54
  combination
• 20:55
  of
• 20:55
  Whole
• 20:55
  Foods,
• 20:56
  Amazon,
• 20:56
  Amazon's
• 20:57
  marketplace
• 20:57
  partners
• 20:58
  does
• 20:59
  mean,
• 20:59
  it
• 20:59
  does
• 21:00
  mean
• 21:00
  if
• 21:00
  you
• 21:00
  want
• 21:00
  to
• 21:00
  shop
• 21:01
  this
• 21:01
  way,
• 21:01
  you
• 21:02
  can
• 21:02
  complete
• 21:02
  your
• 21:02
  entire
• 21:03
  weekly
• 21:03
  grocery
• 21:04
  trip
• 21:04
  through
• 21:04
  an
• 21:05
  interface
• 21:05
  like
• 21:05
  this.
• 21:05
  And
• 21:06
  like
• 21:06
  I
• 21:06
  said,
• 21:06
  I
• 21:06
  tried
• 21:07
  it
• 21:07
  out
• 21:07
  this
• 21:07
  morning.
• 21:08
  I
• 21:08
  did
• 21:08
  give
• 21:09
  me
• 21:09
  five
• 21:09
  paleo
• 21:10
  breakfast
• 21:10
  menu
• 21:11
  options
• 21:11
  for
• 21:11
  a
• 21:12
  week.
• 21:12
  It
• 21:12
  did
• 21:13
  it.
• 21:13
  And
• 21:13
  then
• 21:13
  I
• 21:13
  said
• 21:13
  I
• 21:14
  want
• 21:14
  to
• 21:14
  Prepare
• 21:14
  them
• 21:14
  in
• 21:15
  10
• 21:15
  minutes
• 21:15
  or
• 21:15
  less
• 21:15
  because
• 21:16
  I
• 21:16
  don't
• 21:16
  want
• 21:16
  to
• 21:16
  do
• 21:16
  the
• 21:16
  work.
• 21:17
  It
• 21:17
  gave
• 21:17
  me
• 21:17
  more
• 21:17
  options.
• 21:18
  I
• 21:18
  didn't
• 21:19
  have
• 21:19
  time
• 21:19
  to
• 21:19
  go
• 21:19
  and
• 21:20
  order
• 21:20
  it
• 21:20
  and
• 21:20
  see,
• 21:20
  and
• 21:21
  trial
• 21:21
  it
• 21:21
  out
• 21:21
  and
• 21:21
  see
• 21:21
  how
• 21:22
  many
• 21:22
  of
• 21:22
  the
• 21:22
  items
• 21:22
  can
• 21:22
  come
• 21:23
  directly
• 21:23
  from
• 21:23
  Amazon
• 21:24
  from
• 21:24
  the
• 21:24
  recipe.
• 21:25
  But
• 21:25
  hey,
• 21:25
  it's
• 21:25
  got
• 21:25
  me
• 21:26
  intrigued
• 21:26
  and
• 21:26
  I'm
• 21:26
  interested
• 21:27
  in
• 21:27
  it.
• 21:27
  So
• 21:27
  yeah,
• 21:27
  I'm,
• 21:28
  I'm
• 21:28
  buying
• 21:28
  this
• 21:28
  one.
• 21:29
  Yeah,
• 21:30
  I
• 21:30
  think
• 21:30
  I
• 21:30
  agree.
• 21:30
  I
• 21:30
  mean
• 21:31
  I
• 21:31
  get
• 21:31
  why
• 21:31
  Amazon
• 21:31
  is
• 21:32
  doing
• 21:32
  this
• 21:32
  for
• 21:33
  all
• 21:33
  the
• 21:33
  reasons
• 21:33
  that
• 21:34
  you
• 21:34
  shared
• 21:34
  there.
• 21:34
  They're
• 21:35
  really
• 21:35
  trying
• 21:35
  to
• 21:36
  continue
• 21:36
  to
• 21:37
  build
• 21:37
  out
• 21:38
  the
• 21:38
  Amazon
• 21:38
  ecosystem
• 21:39
  similar
• 21:39
  to.
• 21:40
  It
• 21:40
  reminds
• 21:40
  me
• 21:40
  of
• 21:40
  now
• 21:41
  of
• 21:41
  like
• 21:41
  how
• 21:42
  Apple,
• 21:42
  the
• 21:42
  Apple
• 21:43
  ecosystem
• 21:43
  is.
• 21:43
  So
• 21:43
  I
• 21:44
  like
• 21:44
  that
• 21:44
  a
• 21:44
  lot
• 21:44
  because
• 21:45
  I've
• 21:46
  never
• 21:46
  been
• 21:46
  an
• 21:46
  Alexa
• 21:47
  fan,
• 21:48
  so
• 21:48
  I've
• 21:48
  always,
• 21:49
  I've
• 21:49
  always
• 21:49
  kind
• 21:49
  of
• 21:49
  kept
• 21:50
  it
• 21:50
  outside.
• 21:50
  It
• 21:50
  didn't
• 21:51
  seem
• 21:51
  to
• 21:51
  have
• 21:51
  enough
• 21:52
  use
• 21:52
  or
• 21:53
  enough
• 21:53
  use
• 21:53
  cases
• 21:54
  for
• 21:54
  me
• 21:54
  to
• 21:54
  actually
• 21:55
  bite
• 21:55
  down,
• 21:55
  bite
• 21:56
  the
• 21:56
  bullet
• 21:56
  and
• 21:56
  get
• 21:56
  one.
• 21:57
  But
• 21:57
  you
• 21:58
  know,
• 21:58
  the
• 21:58
  problem
• 21:59
  that
• 21:59
  I
• 21:59
  have
• 21:59
  with
• 21:59
  this
• 22:00
  is
• 22:00
  that
• 22:00
  you're
• 22:00
  still
• 22:00
  reliant
• 22:02
  on
• 22:03
  two
• 22:03
  retailers
• 22:04
  for
• 22:04
  your
• 22:05
  groceries.
• 22:05
  And
• 22:06
  that's
• 22:06
  the
• 22:06
  problem
• 22:06
  that
• 22:07
  I
• 22:07
  have.
• 22:07
  Like,
• 22:08
  I
• 22:08
  don't
• 22:08
  know
• 22:08
  that
• 22:09
  one.
• 22:09
  I'm,
• 22:10
  you
• 22:10
  know,
• 22:10
  I
• 22:10
  can
• 22:10
  go
• 22:10
  to
• 22:11
  ChatGPT
• 22:11
  and
• 22:12
  get,
• 22:12
  put
• 22:13
  in
• 22:13
  the
• 22:13
  same
• 22:13
  query
• 22:14
  and
• 22:14
  get
• 22:14
  a
• 22:15
  whole
• 22:15
  list
• 22:15
  of
• 22:15
  different
• 22:16
  options
• 22:16
  I
• 22:16
  can
• 22:16
  get.
• 22:17
  Retailers
• 22:18
  across
• 22:18
  the
• 22:18
  board
• 22:18
  are
• 22:18
  not
• 22:19
  limited
• 22:19
  to
• 22:19
  just
• 22:20
  Amazon
• 22:20
  Fresh
• 22:21
  Delivery
• 22:22
  and,
• 22:22
  and
• 22:23
  Whole
• 22:23
  Foods.
• 22:23
  And
• 22:24
  I
• 22:24
  think
• 22:24
  that
• 22:24
  there's
• 22:24
  still
• 22:25
  a
• 22:25
  price,
• 22:25
  a
• 22:26
  price
• 22:26
  perception
• 22:27
  problem
• 22:27
  with
• 22:27
  Whole
• 22:28
  Foods
• 22:28
  when
• 22:28
  I'm
• 22:29
  ordering
• 22:29
  Paleo
• 22:30
  breakfast,
• 22:30
  things
• 22:30
  like
• 22:30
  those
• 22:31
  products
• 22:31
  are
• 22:31
  expensive.
• 22:32
  So
• 22:32
  I
• 22:33
  think,
• 22:33
  you
• 22:33
  know,
• 22:34
  without
• 22:34
  quality
• 22:35
  being
• 22:36
  significant
• 22:37
  enough
• 22:37
  to
• 22:37
  me
• 22:38
  and
• 22:39
  with
• 22:39
  the,
• 22:39
  the
• 22:40
  price
• 22:40
  perception
• 22:40
  that
• 22:41
  I'm
• 22:41
  going
• 22:41
  to
• 22:41
  be
• 22:41
  paying
• 22:41
  more
• 22:42
  for
• 22:42
  my
• 22:42
  products
• 22:42
  delivered
• 22:43
  from
• 22:43
  Whole
• 22:43
  Foods,
• 22:44
  even
• 22:44
  though
• 22:44
  I
• 22:44
  can
• 22:44
  get
• 22:44
  them
• 22:45
  in
• 22:45
  one
• 22:45
  cart,
• 22:46
  I
• 22:46
  think
• 22:46
  my
• 22:46
  best
• 22:46
  move
• 22:47
  as
• 22:47
  a
• 22:47
  consumer
• 22:47
  is
• 22:48
  to
• 22:48
  go
• 22:48
  to
• 22:48
  an
• 22:49
  independent
• 22:49
  source
• 22:50
  like
• 22:50
  ChatGPT,
• 22:51
  type
• 22:51
  in
• 22:51
  the
• 22:52
  same
• 22:52
  query,
• 22:52
  have
• 22:53
  those
• 22:53
  items
• 22:54
  added
• 22:54
  to
• 22:54
  my
• 22:54
  cart,
• 22:55
  check
• 22:55
  out
• 22:55
  through,
• 22:56
  you
• 22:56
  know,
• 22:56
  Walmart,
• 22:57
  Chat
• 22:57
  GPT,
• 22:59
  assuming
• 22:59
  they
• 23:00
  add
• 23:00
  groceries,
• 23:00
  which
• 23:00
  I
• 23:01
  guess
• 23:01
  that
• 23:01
  that's
• 23:01
  something
• 23:02
  that
• 23:02
  they
• 23:02
  haven't
• 23:02
  done
• 23:02
  right
• 23:02
  now,
• 23:03
  but
• 23:03
  check
• 23:03
  out
• 23:03
  and
• 23:04
  see,
• 23:04
  do
• 23:04
  a
• 23:04
  price
• 23:05
  comparison
• 23:05
  and
• 23:05
  say
• 23:06
  where,
• 23:06
  where
• 23:06
  in
• 23:07
  all
• 23:07
  of
• 23:07
  my
• 23:07
  grocery
• 23:08
  universe
• 23:09
  can
• 23:09
  I
• 23:09
  get
• 23:09
  this
• 23:10
  list
• 23:10
  of
• 23:10
  ingredients
• 23:11
  for
• 23:11
  the
• 23:12
  best
• 23:12
  price
• 23:12
  possible
• 23:13
  and
• 23:13
  then
• 23:13
  be
• 23:14
  able
• 23:14
  to
• 23:14
  make
• 23:14
  a
• 23:14
  decision
• 23:15
  versus
• 23:15
  just
• 23:16
  being
• 23:16
  limited
• 23:16
  to
• 23:17
  what's
• 23:17
  within
• 23:17
  the
• 23:17
  Amazon
• 23:19
  and
• 23:19
  Whole
• 23:19
  Foods
• 23:20
  product
• 23:20
  environment?
• 23:21
  Yeah,
• 23:21
  and
• 23:21
  yeah,
• 23:22
  it's
• 23:22
  a
• 23:22
  great
• 23:22
  question.
• 23:22
  And
• 23:23
  the
• 23:23
  question
• 23:23
  comes
• 23:23
  down
• 23:23
  to
• 23:23
  how
• 23:24
  many
• 23:24
  people
• 23:24
  are
• 23:24
  like
• 23:24
  you
• 23:25
  versus
• 23:25
  how
• 23:25
  many
• 23:26
  people
• 23:26
  are
• 23:26
  just
• 23:26
  okay
• 23:27
  with
• 23:27
  getting
• 23:28
  products
• 23:28
  they
• 23:29
  can
• 23:29
  trust
• 23:29
  enough
• 23:30
  from
• 23:30
  Amazon
• 23:31
  and
• 23:31
  then
• 23:31
  supplementing
• 23:32
  the
• 23:32
  higher
• 23:32
  priced
• 23:33
  products
• 23:33
  they
• 23:33
  want
• 23:33
  to
• 23:34
  from
• 23:34
  Whole
• 23:34
  Foods
• 23:34
  and,
• 23:35
  and
• 23:35
  the
• 23:35
  other
• 23:35
  options
• 23:36
  too.
• 23:36
  Let's
• 23:36
  not
• 23:36
  forget
• 23:36
  Amazon
• 23:37
  has
• 23:37
  a
• 23:37
  marketplace
• 23:38
  of
• 23:38
  grocers
• 23:39
  available
• 23:39
  to
• 23:39
  it
• 23:40
  that
• 23:40
  are
• 23:40
  selling
• 23:40
  through
• 23:40
  the
• 23:40
  platform.
• 23:41
  We've
• 23:41
  always
• 23:41
  asked
• 23:41
  why
• 23:42
  they're
• 23:42
  doing
• 23:42
  that.
• 23:43
  I
• 23:43
  don't
• 23:43
  really
• 23:43
  understand
• 23:43
  that,
• 23:44
  but
• 23:44
  they
• 23:44
  do.
• 23:45
  And
• 23:45
  we're
• 23:45
  going
• 23:46
  to
• 23:46
  talk.
• 23:46
  You
• 23:46
  know,
• 23:47
  there's
• 23:47
  quite
• 23:47
  a
• 23:47
  few
• 23:47
  of
• 23:47
  them
• 23:48
  that
• 23:48
  are
• 23:48
  out
• 23:48
  there
• 23:48
  that
• 23:48
  are
• 23:48
  part
• 23:49
  of
• 23:49
  that
• 23:49
  stable.
• 23:49
  So
• 23:49
  it's
• 23:50
  wild.
• 23:50
  All
• 23:50
  right,
• 23:51
  let's
• 23:51
  bring
• 23:51
  Richard
• 23:51
  onto
• 23:52
  today's
• 23:52
  show.
• 24:01
  Joining
• 24:02
  us
• 24:02
  today
• 24:02
  for
• 24:03
  five
• 24:03
  insightful
• 24:03
  minutes
• 24:04
  is
• 24:04
  a
• 24:04
  guest
• 24:04
  with.
• 24:04
  We
• 24:04
  have
• 24:05
  been
• 24:05
  really
• 24:05
  excited
• 24:05
  to
• 24:06
  get
• 24:06
  on
• 24:06
  the
• 24:06
  show
• 24:06
  since
• 24:07
  we
• 24:07
  first
• 24:07
  met
• 24:07
  him
• 24:07
  at
• 24:08
  Grocery
• 24:08
  Shop
• 24:09
  last
• 24:09
  year.
• 24:09
  Richard
• 24:10
  McKenzie,
• 24:11
  the
• 24:11
  chief
• 24:11
  executive
• 24:12
  officer
• 24:12
  at
• 24:12
  Veloc,
• 24:13
  a
• 24:13
  division
• 24:14
  of
• 24:14
  the
• 24:14
  Roelik
• 24:14
  Group.
• 24:15
  Richard,
• 24:15
  welcome
• 24:16
  to
• 24:16
  omnitalk.
• 24:16
  And
• 24:17
  let's
• 24:17
  get
• 24:17
  right
• 24:17
  to
• 24:18
  it.
• 24:18
  For
• 24:18
  listeners
• 24:19
  who
• 24:19
  may
• 24:19
  not
• 24:19
  know
• 24:20
  Roelik,
• 24:20
  give
• 24:20
  us
• 24:21
  a
• 24:21
  quick
• 24:21
  overview
• 24:22
  of
• 24:22
  who
• 24:22
  you
• 24:22
  are,
• 24:23
  how
• 24:23
  Volok
• 24:24
  fits
• 24:24
  into
• 24:24
  them
• 24:24
  and
• 24:25
  how
• 24:25
  your
• 24:25
  model
• 24:26
  differs
• 24:26
  from
• 24:26
  typical
• 24:27
  online
• 24:27
  grocers.
• 24:28
  Thank
• 24:28
  you,
• 24:28
  Chris.
• 24:29
  I
• 24:30
  think
• 24:30
  Roelic
• 24:31
  for
• 24:31
  me
• 24:31
  is
• 24:31
  a
• 24:32
  bit
• 24:32
  of
• 24:32
  a,
• 24:32
  is
• 24:32
  a
• 24:32
  bit
• 24:32
  of
• 24:32
  a
• 24:32
  hidden
• 24:33
  gem.
• 24:34
  So
• 24:34
  we
• 24:34
  do
• 24:35
  about
• 24:35
  $2
• 24:36
  billion,
• 24:36
  give
• 24:36
  or
• 24:37
  take
• 24:37
  in
• 24:37
  revenue
• 24:38
  in
• 24:38
  five
• 24:39
  countries
• 24:39
  in
• 24:39
  Europe,
• 24:40
  but
• 24:41
  we're
• 24:41
  growing
• 24:41
  at
• 24:41
  30%
• 24:42
  a
• 24:42
  year,
• 24:42
  which
• 24:42
  when
• 24:42
  you
• 24:43
  just
• 24:43
  add
• 24:43
  up
• 24:43
  what
• 24:44
  that
• 24:44
  means
• 24:44
  in
• 24:45
  terms
• 24:45
  of
• 24:45
  putting
• 24:45
  on
• 24:45
  growth
• 24:46
  every
• 24:46
  year
• 24:46
  is
• 24:47
  frankly
• 24:47
  quite
• 24:47
  remarkable.
• 24:48
  And
• 24:48
  our
• 24:49
  proposition
• 24:49
  for
• 24:50
  the
• 24:50
  customer
• 24:50
  is
• 24:50
  just
• 24:51
  great.
• 24:52
  So
• 24:52
  we're
• 24:53
  offering
• 24:53
  a
• 24:53
  really
• 24:53
  full
• 24:54
  basket
• 24:54
  and
• 24:54
  that's
• 24:54
  the
• 24:54
  full
• 24:55
  complexity
• 24:55
  of
• 24:55
  grocery,
• 24:56
  fresh
• 24:56
  bakery,
• 24:56
  fresh
• 24:57
  food,
• 24:58
  and
• 24:58
  everything
• 24:58
  you
• 24:58
  would
• 24:59
  find
• 24:59
  in
• 24:59
  a
• 24:59
  shop.
• 25:00
  And
• 25:00
  we're
• 25:00
  delivering
• 25:00
  it
• 25:01
  fast.
• 25:01
  So
• 25:01
  it's
• 25:01
  done
• 25:02
  in
• 25:02
  standard
• 25:03
  Delivery
• 25:03
  time
• 25:03
  is
• 25:04
  three
• 25:04
  hours.
• 25:06
  We're
• 25:06
  doing
• 25:06
  that
• 25:06
  out
• 25:07
  of
• 25:07
  12
• 25:08
  distribution
• 25:09
  centers,
• 25:09
  which
• 25:09
  we're
• 25:09
  now
• 25:10
  automated.
• 25:12
  And
• 25:12
  those
• 25:12
  distributions,
• 25:13
  they
• 25:13
  vary
• 25:14
  in
• 25:14
  size,
• 25:14
  but
• 25:14
  they're
• 25:15
  typically
• 25:15
  50,000
• 25:16
  square
• 25:16
  feet
• 25:16
  to
• 25:17
  100,000
• 25:17
  square
• 25:17
  feet.
• 25:18
  So
• 25:18
  they're
• 25:19
  really
• 25:19
  quite
• 25:20
  compact
• 25:20
  in
• 25:20
  terms
• 25:21
  of
• 25:21
  what
• 25:21
  they
• 25:22
  do.
• 25:23
  Because
• 25:23
  we're
• 25:23
  centralized,
• 25:24
  it
• 25:25
  means
• 25:25
  that
• 25:25
  we
• 25:25
  can
• 25:26
  deliver
• 25:27
  really
• 25:27
  excellent
• 25:28
  customer
• 25:28
  service.
• 25:29
  So
• 25:29
  we're
• 25:30
  getting
• 25:31
  customer
• 25:32
  NPS
• 25:32
  scores.
• 25:33
  Our
• 25:33
  weighted
• 25:34
  average
• 25:34
  across
• 25:34
  our
• 25:34
  markets
• 25:35
  is
• 25:35
  something
• 25:35
  like
• 25:36
  88,
• 25:36
  which,
• 25:37
  again,
• 25:37
  is
• 25:37
  just
• 25:37
  better
• 25:37
  than
• 25:38
  anything
• 25:38
  I've
• 25:38
  seen
• 25:39
  elsewhere.
• 25:40
  And
• 25:41
  then
• 25:41
  what
• 25:41
  we're
• 25:41
  doing
• 25:41
  with
• 25:41
  Veloc,
• 25:42
  we're
• 25:42
  taking
• 25:42
  that
• 25:43
  technology,
• 25:43
  making
• 25:44
  it
• 25:44
  available
• 25:45
  and
• 25:46
  so
• 25:46
  that
• 25:46
  we
• 25:46
  can
• 25:46
  work,
• 25:47
  or
• 25:47
  our
• 25:47
  technology
• 25:48
  can
• 25:48
  work
• 25:48
  with
• 25:49
  other
• 25:49
  grocers
• 25:50
  and
• 25:50
  they
• 25:50
  can
• 25:50
  start
• 25:50
  to
• 25:51
  offer
• 25:52
  a
• 25:52
  similar
• 25:52
  type
• 25:53
  of
• 25:53
  service
• 25:53
  that
• 25:53
  we're
• 25:54
  offering
• 25:54
  to
• 25:54
  our
• 25:54
  customers
• 25:55
  has
• 25:55
  been
• 25:55
  so
• 25:55
  successful
• 25:56
  for
• 25:56
  us.
• 25:56
  Well,
• 25:56
  Richard,
• 25:57
  you
• 25:57
  mentioned
• 25:57
  it
• 25:58
  a
• 25:58
  couple
• 25:58
  of
• 25:58
  times.
• 25:59
  Everyone's
• 26:00
  talking
• 26:00
  about
• 26:00
  how
• 26:00
  unprofitable
• 26:01
  online
• 26:01
  grocery
• 26:02
  can
• 26:02
  be,
• 26:02
  but
• 26:02
  you
• 26:03
  mentioned
• 26:03
  twice
• 26:04
  you
• 26:04
  are
• 26:04
  doing
• 26:05
  this
• 26:05
  profitably.
• 26:06
  How
• 26:06
  has
• 26:06
  Roelik
• 26:07
  managed
• 26:07
  to
• 26:07
  do
• 26:07
  this?
• 26:08
  I'd
• 26:09
  say
• 26:09
  there's
• 26:09
  a
• 26:09
  few
• 26:09
  things.
• 26:10
  The
• 26:10
  first,
• 26:10
  actually,
• 26:11
  I
• 26:11
  already
• 26:11
  mentioned
• 26:12
  one,
• 26:12
  is
• 26:13
  it's
• 26:14
  full
• 26:14
  basket.
• 26:14
  And
• 26:14
  actually,
• 26:15
  if
• 26:15
  you
• 26:15
  do
• 26:15
  full
• 26:15
  basket,
• 26:16
  you
• 26:16
  get
• 26:16
  a
• 26:16
  big
• 26:16
  basket.
• 26:17
  So
• 26:18
  if
• 26:18
  you're
• 26:18
  doing,
• 26:18
  I
• 26:19
  don't
• 26:19
  know,
• 26:19
  $120
• 26:21
  baskets,
• 26:22
  you've
• 26:23
  got
• 26:23
  the
• 26:23
  margin
• 26:24
  there
• 26:24
  to
• 26:24
  pay
• 26:24
  for
• 26:25
  some
• 26:25
  of
• 26:25
  the
• 26:25
  picking
• 26:25
  and
• 26:26
  the
• 26:26
  packing
• 26:26
  and
• 26:26
  even
• 26:26
  the
• 26:26
  delivery.
• 26:28
  The
• 26:28
  important
• 26:29
  thing
• 26:29
  is
• 26:29
  to
• 26:29
  get
• 26:30
  that
• 26:30
  range
• 26:30
  so
• 26:31
  you
• 26:31
  get
• 26:32
  that
• 26:32
  basket
• 26:32
  in
• 26:32
  there.
• 26:34
  The
• 26:34
  second
• 26:34
  thing
• 26:35
  we
• 26:35
  run,
• 26:36
  then
• 26:36
  we
• 26:37
  just
• 26:37
  make
• 26:37
  sure
• 26:37
  the
• 26:38
  fulfillment
• 26:38
  centers
• 26:39
  are
• 26:39
  efficient,
• 26:40
  they're
• 26:41
  automated.
• 26:41
  We
• 26:41
  get
• 26:42
  a
• 26:42
  really
• 26:42
  good
• 26:43
  uph
• 26:43
  of
• 26:44
  the
• 26:44
  labor
• 26:44
  costs
• 26:44
  in
• 26:44
  those
• 26:45
  stay
• 26:45
  down.
• 26:47
  I'd
• 26:48
  say.
• 26:48
  The
• 26:48
  third
• 26:49
  thing
• 26:49
  I'd
• 26:49
  also
• 26:49
  highlight
• 26:50
  is
• 26:50
  they've
• 26:50
  got
• 26:50
  to
• 26:51
  be
• 26:51
  the
• 26:51
  right
• 26:51
  size.
• 26:52
  So
• 26:52
  if
• 26:52
  you
• 26:53
  build
• 26:53
  them
• 26:53
  too
• 26:53
  big,
• 26:55
  they're
• 26:55
  not
• 26:55
  utilized,
• 26:56
  and
• 26:57
  you
• 26:57
  just
• 26:57
  end
• 26:57
  up
• 26:57
  with
• 26:57
  the
• 26:58
  kind
• 26:58
  of,
• 26:58
  what's
• 26:58
  been
• 26:58
  called
• 26:58
  monuments.
• 26:59
  So
• 27:00
  for
• 27:01
  us,
• 27:01
  build
• 27:01
  them
• 27:01
  the
• 27:02
  right
• 27:02
  size,
• 27:04
  and
• 27:04
  then
• 27:04
  you
• 27:04
  can
• 27:04
  get.
• 27:05
  Also
• 27:05
  you
• 27:05
  can
• 27:05
  get
• 27:05
  them
• 27:06
  closer
• 27:06
  into
• 27:06
  the
• 27:06
  town.
• 27:06
  So
• 27:07
  you're
• 27:07
  managing
• 27:07
  the
• 27:07
  last
• 27:08
  mile,
• 27:09
  you
• 27:09
  know,
• 27:09
  so
• 27:09
  you're
• 27:09
  keeping
• 27:10
  that.
• 27:10
  So
• 27:10
  we.
• 27:11
  We
• 27:11
  build
• 27:11
  them
• 27:11
  really
• 27:12
  compact
• 27:12
  and
• 27:13
  try
• 27:13
  and
• 27:13
  keep
• 27:14
  them
• 27:14
  as
• 27:14
  close
• 27:14
  into
• 27:14
  the
• 27:14
  town
• 27:15
  as
• 27:15
  possible.
• 27:16
  And
• 27:16
  the
• 27:17
  last
• 27:17
  thing,
• 27:17
  and
• 27:17
  I
• 27:17
  think
• 27:17
  we'll
• 27:18
  come
• 27:18
  on
• 27:18
  to
• 27:18
  this
• 27:18
  a
• 27:18
  bit
• 27:18
  more,
• 27:19
  is
• 27:19
  the
• 27:19
  system.
• 27:21
  It's
• 27:21
  got
• 27:21
  to
• 27:22
  be
• 27:23
  joining
• 27:23
  all
• 27:23
  this
• 27:24
  up
• 27:24
  between
• 27:24
  the
• 27:24
  last
• 27:25
  mile,
• 27:25
  the
• 27:25
  fulfillment
• 27:26
  center.
• 27:26
  Orchestrating
• 27:27
  all
• 27:27
  of
• 27:27
  this
• 27:28
  is
• 27:28
  difficult,
• 27:29
  and
• 27:29
  you've
• 27:29
  got
• 27:29
  to
• 27:30
  do
• 27:30
  that,
• 27:30
  to
• 27:30
  keep
• 27:30
  the
• 27:30
  waste
• 27:31
  down,
• 27:31
  to
• 27:31
  keep
• 27:31
  the
• 27:32
  kind
• 27:32
  of
• 27:32
  the
• 27:32
  unused
• 27:33
  labor
• 27:33
  down.
• 27:34
  So
• 27:34
  just
• 27:34
  kind
• 27:34
  of,
• 27:35
  that
• 27:35
  one
• 27:35
  system
• 27:35
  I
• 27:36
  think
• 27:36
  is
• 27:36
  also
• 27:36
  really
• 27:36
  important.
• 27:37
  Right.
• 27:38
  And
• 27:38
  you've
• 27:38
  been
• 27:38
  building
• 27:38
  this
• 27:39
  technology
• 27:39
  for
• 27:39
  over
• 27:39
  the
• 27:40
  course
• 27:40
  of
• 27:40
  the
• 27:40
  last
• 27:40
  decade.
• 27:41
  Um,
• 27:42
  so
• 27:42
  you've,
• 27:42
  you've
• 27:43
  worked
• 27:43
  a
• 27:43
  lot
• 27:43
  of
• 27:43
  those
• 27:43
  things
• 27:44
  out.
• 27:44
  As
• 27:45
  you
• 27:45
  offer
• 27:45
  this
• 27:46
  to
• 27:46
  other
• 27:47
  operators.
• 27:48
  What
• 27:48
  would
• 27:48
  you
• 27:48
  say
• 27:49
  makes
• 27:49
  your
• 27:50
  technology,
• 27:51
  the
• 27:51
  underlying
• 27:51
  technology,
• 27:53
  unique?
• 27:54
  Look,
• 27:54
  I
• 27:55
  think
• 27:55
  I'd
• 27:55
  almost
• 27:56
  gonna
• 27:56
  start
• 27:56
  with
• 27:56
  a
• 27:56
  philosophical
• 27:57
  point
• 27:58
  that
• 27:58
  we,
• 27:59
  we
• 28:00
  started
• 28:00
  here
• 28:01
  kind
• 28:01
  of
• 28:01
  with
• 28:02
  the
• 28:02
  customer
• 28:02
  proposition.
• 28:04
  So,
• 28:05
  you
• 28:05
  know,
• 28:05
  we
• 28:05
  started
• 28:05
  by
• 28:06
  saying,
• 28:06
  what
• 28:06
  do
• 28:06
  you
• 28:06
  have
• 28:07
  to
• 28:07
  do
• 28:07
  to
• 28:07
  win?
• 28:07
  You
• 28:08
  need
• 28:08
  a
• 28:08
  full
• 28:08
  basket,
• 28:08
  you
• 28:09
  need,
• 28:09
  you
• 28:09
  need
• 28:09
  fast
• 28:09
  delivery.
• 28:11
  And
• 28:11
  then
• 28:11
  we
• 28:11
  kind
• 28:11
  of
• 28:11
  work
• 28:12
  backwards
• 28:12
  from
• 28:12
  the
• 28:12
  proposition
• 28:13
  to
• 28:13
  say
• 28:14
  how
• 28:15
  do
• 28:15
  you
• 28:15
  make
• 28:15
  the
• 28:15
  technology
• 28:16
  work
• 28:16
  for
• 28:16
  that?
• 28:18
  So
• 28:18
  we've
• 28:19
  kind
• 28:19
  of
• 28:19
  gone
• 28:19
  backwards
• 28:19
  to
• 28:20
  say
• 28:20
  actually
• 28:20
  how
• 28:20
  do
• 28:20
  we
• 28:20
  create
• 28:21
  the
• 28:21
  software
• 28:21
  stack
• 28:22
  that
• 28:22
  enables
• 28:23
  the
• 28:23
  orchestration
• 28:24
  of
• 28:24
  the
• 28:24
  bakery
• 28:25
  getting
• 28:26
  everything
• 28:26
  out
• 28:26
  of
• 28:26
  the
• 28:27
  door
• 28:27
  really
• 28:27
  quick?
• 28:28
  And
• 28:28
  that's
• 28:28
  kind
• 28:28
  of,
• 28:28
  I
• 28:29
  think
• 28:29
  just
• 28:29
  what's
• 28:30
  different
• 28:30
  is
• 28:30
  actually
• 28:31
  our
• 28:31
  technology
• 28:31
  has
• 28:32
  come
• 28:32
  kind
• 28:32
  of
• 28:32
  customer
• 28:32
  backwards
• 28:33
  rather
• 28:33
  than
• 28:34
  saying,
• 28:34
  what
• 28:34
  can
• 28:34
  we
• 28:34
  now
• 28:35
  do
• 28:35
  with
• 28:35
  this,
• 28:36
  this
• 28:36
  technology?
• 28:37
  I'd
• 28:38
  say
• 28:38
  the
• 28:38
  second
• 28:38
  point
• 28:38
  is,
• 28:39
  you
• 28:39
  know,
• 28:39
  we're
• 28:40
  grocers,
• 28:41
  we're
• 28:42
  fundamentally
• 28:42
  grocers
• 28:43
  and
• 28:43
  we've
• 28:44
  built
• 28:44
  it
• 28:44
  kind
• 28:44
  of
• 28:44
  with
• 28:45
  that
• 28:45
  operator
• 28:46
  mindset.
• 28:47
  So,
• 28:47
  you
• 28:47
  know,
• 28:47
  we've
• 28:48
  got
• 28:48
  one
• 28:49
  software
• 28:50
  brain,
• 28:50
  for
• 28:50
  want
• 28:50
  of
• 28:50
  a
• 28:51
  better
• 28:51
  word,
• 28:51
  that
• 28:52
  makes
• 28:52
  this
• 28:53
  kind
• 28:53
  of
• 28:53
  easy
• 28:54
  to
• 28:54
  operate.
• 28:54
  And
• 28:54
  you'll
• 28:54
  know
• 28:55
  that
• 28:55
  these,
• 28:55
  these
• 28:55
  centers,
• 28:56
  you
• 28:56
  know,
• 28:57
  a
• 28:57
  grocer
• 28:57
  is
• 28:57
  good
• 28:57
  at
• 28:58
  running
• 28:58
  a
• 28:58
  shop,
• 28:58
  it's
• 28:59
  good
• 28:59
  at
• 28:59
  running
• 28:59
  a
• 28:59
  distribution
• 29:00
  center.
• 29:00
  Running
• 29:00
  fulfillment
• 29:01
  centers
• 29:01
  are
• 29:01
  a
• 29:01
  little
• 29:02
  bit
• 29:02
  different.
• 29:03
  So
• 29:03
  we've
• 29:03
  had
• 29:03
  to
• 29:03
  kind
• 29:03
  of
• 29:03
  build
• 29:04
  this
• 29:04
  software
• 29:05
  that
• 29:05
  really
• 29:06
  kind
• 29:06
  of
• 29:06
  enables
• 29:07
  that
• 29:07
  to
• 29:07
  happen
• 29:07
  in
• 29:08
  this
• 29:08
  kind
• 29:08
  of
• 29:08
  joined
• 29:09
  up
• 29:09
  way,
• 29:10
  which
• 29:11
  just
• 29:11
  to
• 29:12
  give
• 29:12
  you
• 29:12
  an
• 29:12
  idea
• 29:12
  of
• 29:12
  the
• 29:13
  complexity,
• 29:13
  we
• 29:13
  run
• 29:14
  seven
• 29:14
  picking
• 29:15
  zones
• 29:15
  in
• 29:15
  most
• 29:16
  our
• 29:16
  fulfillment
• 29:16
  centers.
• 29:18
  This
• 29:19
  software
• 29:19
  will
• 29:19
  orchestrate
• 29:20
  simultaneous
• 29:21
  picking
• 29:22
  of
• 29:22
  all
• 29:22
  of
• 29:22
  those
• 29:22
  zones.
• 29:24
  So
• 29:24
  it's
• 29:24
  then
• 29:24
  brought
• 29:24
  together
• 29:25
  and
• 29:25
  consolidated
• 29:26
  in
• 29:26
  the
• 29:26
  back
• 29:26
  of
• 29:26
  the
• 29:26
  van
• 29:27
  about
• 29:27
  30
• 29:28
  minutes
• 29:28
  after
• 29:28
  the
• 29:28
  fulfilment
• 29:29
  centers
• 29:29
  receive
• 29:29
  the
• 29:30
  order.
• 29:31
  And
• 29:31
  that's
• 29:32
  just
• 29:32
  a
• 29:32
  complicated
• 29:33
  set
• 29:34
  of
• 29:34
  operations
• 29:34
  to
• 29:34
  run.
• 29:35
  And
• 29:35
  I
• 29:35
  think
• 29:35
  that's
• 29:36
  kind
• 29:36
  of,
• 29:36
  that's
• 29:36
  to
• 29:36
  me
• 29:36
  what
• 29:37
  we
• 29:37
  kind
• 29:37
  of,
• 29:38
  what
• 29:38
  makes
• 29:38
  it
• 29:38
  different.
• 29:39
  You
• 29:39
  know,
• 29:39
  we've
• 29:39
  seen
• 29:39
  a
• 29:40
  lot
• 29:40
  of
• 29:40
  grocers,
• 29:40
  particularly
• 29:41
  here
• 29:41
  in
• 29:41
  the
• 29:41
  United
• 29:41
  States
• 29:41
  of
• 29:42
  recent,
• 29:43
  that
• 29:43
  have
• 29:44
  hit
• 29:44
  the
• 29:44
  recent
• 29:44
  headlines
• 29:45
  that
• 29:45
  have
• 29:45
  struggled
• 29:45
  with
• 29:46
  automation
• 29:46
  or
• 29:46
  even
• 29:47
  pause
• 29:47
  major
• 29:48
  automation
• 29:48
  projects.
• 29:49
  Why
• 29:49
  do
• 29:49
  you
• 29:50
  think
• 29:50
  Rolex
• 29:50
  approach
• 29:51
  works
• 29:51
  when
• 29:51
  those
• 29:52
  haven't
• 29:52
  worked
• 29:53
  in
• 29:53
  the
• 29:54
  past?
• 29:54
  Yeah,
• 29:54
  it's
• 29:55
  a,
• 29:55
  it's
• 29:55
  a
• 29:55
  very
• 29:55
  good
• 29:55
  question.
• 29:56
  And
• 29:56
  let's,
• 29:56
  let's
• 29:57
  Be
• 29:57
  totally
• 29:57
  honest,
• 29:58
  it's
• 29:58
  been
• 29:58
  a
• 29:58
  journey
• 29:58
  for
• 29:59
  us.
• 29:59
  We
• 30:00
  started
• 30:00
  this
• 30:01
  automation
• 30:01
  journey
• 30:02
  kind
• 30:02
  of
• 30:02
  four
• 30:02
  or
• 30:02
  five
• 30:02
  years
• 30:03
  ago.
• 30:04
  And
• 30:04
  I
• 30:04
  think
• 30:05
  one
• 30:05
  of
• 30:05
  the
• 30:05
  first
• 30:05
  things
• 30:05
  we
• 30:06
  learned
• 30:06
  is
• 30:06
  not
• 30:07
  just
• 30:07
  about
• 30:07
  the
• 30:07
  automation.
• 30:09
  You've
• 30:10
  got
• 30:10
  to
• 30:10
  actually
• 30:10
  think
• 30:10
  about
• 30:11
  this
• 30:11
  in
• 30:11
  a
• 30:12
  really
• 30:12
  joined
• 30:12
  up
• 30:13
  way.
• 30:14
  So
• 30:14
  being
• 30:15
  candid,
• 30:15
  when
• 30:16
  you
• 30:16
  take
• 30:16
  the
• 30:17
  standard
• 30:17
  software
• 30:18
  off
• 30:18
  the
• 30:18
  shelf,
• 30:18
  you
• 30:19
  get
• 30:19
  with
• 30:19
  it.
• 30:19
  It
• 30:19
  is
• 30:20
  just
• 30:20
  not
• 30:20
  built
• 30:20
  for
• 30:20
  grocery.
• 30:22
  It
• 30:22
  doesn't
• 30:22
  do
• 30:23
  the
• 30:23
  orchestration,
• 30:24
  it
• 30:24
  doesn't
• 30:24
  do
• 30:25
  the
• 30:25
  speed.
• 30:25
  It
• 30:25
  doesn't
• 30:26
  really
• 30:26
  think
• 30:26
  about
• 30:27
  what's
• 30:28
  perishable,
• 30:28
  what
• 30:28
  the
• 30:28
  shelf
• 30:29
  life
• 30:29
  is,
• 30:30
  what
• 30:30
  the
• 30:30
  temperature
• 30:31
  zones
• 30:31
  are.
• 30:33
  It
• 30:33
  doesn't
• 30:33
  manage
• 30:34
  that
• 30:34
  complexity
• 30:35
  of
• 30:35
  grocery.
• 30:36
  So
• 30:37
  we've
• 30:37
  gone
• 30:38
  through
• 30:38
  that
• 30:38
  journey
• 30:39
  over
• 30:40
  five
• 30:40
  years
• 30:41
  of
• 30:42
  taking
• 30:42
  the
• 30:42
  software,
• 30:43
  progressively
• 30:44
  rewriting
• 30:44
  it
• 30:45
  and
• 30:45
  making
• 30:46
  it
• 30:46
  grocery
• 30:47
  first.
• 30:48
  And
• 30:48
  I
• 30:48
  think
• 30:49
  that
• 30:49
  to
• 30:49
  me
• 30:49
  has
• 30:49
  kind
• 30:50
  of
• 30:50
  been
• 30:50
  the
• 30:50
  key
• 30:50
  for
• 30:51
  us.
• 30:51
  It's
• 30:52
  taking
• 30:52
  the
• 30:52
  technology
• 30:53
  and
• 30:53
  making
• 30:53
  it
• 30:53
  grocery
• 30:54
  first.
• 30:54
  Because
• 30:55
  frankly,
• 30:55
  most
• 30:56
  people
• 30:56
  haven't
• 30:56
  thought
• 30:57
  grocery
• 30:57
  in
• 30:58
  the
• 30:58
  scheme
• 30:58
  of
• 30:58
  warehousing
• 30:59
  is
• 30:59
  relatively
• 31:00
  small.
• 31:01
  We
• 31:02
  wanted
• 31:02
  to
• 31:02
  make
• 31:03
  that
• 31:03
  thing
• 31:03
  that
• 31:03
  worked
• 31:03
  for
• 31:04
  grocery
• 31:04
  and
• 31:05
  then
• 31:05
  we
• 31:06
  eat
• 31:06
  our
• 31:06
  own
• 31:06
  lunch.
• 31:07
  We're
• 31:07
  the
• 31:07
  operators
• 31:08
  here
• 31:09
  and
• 31:09
  we
• 31:09
  have
• 31:09
  to
• 31:09
  make
• 31:10
  it
• 31:10
  work.
• 31:10
  Let's
• 31:10
  be
• 31:11
  honest,
• 31:11
  we
• 31:11
  wouldn't
• 31:11
  have
• 31:11
  had
• 31:11
  a
• 31:12
  business
• 31:12
  if
• 31:12
  we
• 31:12
  didn't
• 31:13
  have
• 31:13
  this
• 31:13
  working.
• 31:13
  And
• 31:13
  I
• 31:14
  think
• 31:14
  that's
• 31:14
  kind
• 31:14
  of
• 31:14
  part
• 31:14
  of
• 31:15
  the
• 31:15
  reason
• 31:15
  we're
• 31:15
  here.
• 31:16
  And
• 31:16
  now
• 31:16
  as
• 31:16
  CEO
• 31:16
  of
• 31:16
  Lock,
• 31:17
  I
• 31:17
  mean,
• 31:17
  you're
• 31:17
  trying
• 31:17
  to
• 31:18
  make
• 31:18
  this
• 31:18
  technology
• 31:18
  available
• 31:19
  to
• 31:19
  others.
• 31:19
  So
• 31:20
  let's
• 31:20
  get
• 31:20
  you
• 31:20
  out
• 31:20
  of
• 31:20
  here
• 31:20
  on
• 31:20
  this.
• 31:21
  Like
• 31:21
  why?
• 31:21
  Why
• 31:21
  are
• 31:22
  you
• 31:22
  doing
• 31:22
  that?
• 31:22
  Because
• 31:22
  you
• 31:23
  said
• 31:23
  you
• 31:23
  eat
• 31:23
  what
• 31:23
  you
• 31:23
  cook,
• 31:23
  but
• 31:24
  why
• 31:24
  are
• 31:24
  you
• 31:24
  trying
• 31:24
  to
• 31:24
  make
• 31:24
  this
• 31:25
  available
• 31:25
  to
• 31:25
  others?
• 31:25
  Now
• 31:26
  look,
• 31:27
  I
• 31:27
  think
• 31:28
  for
• 31:28
  us,
• 31:29
  the
• 31:30
  problems
• 31:30
  we've
• 31:31
  solved
• 31:32
  with
• 31:32
  Roelic
• 31:33
  are
• 31:34
  actually
• 31:35
  genuinely
• 31:35
  the
• 31:35
  same
• 31:35
  problems
• 31:36
  as
• 31:36
  a
• 31:36
  lot
• 31:36
  of
• 31:36
  grocers
• 31:37
  around
• 31:37
  the
• 31:37
  world
• 31:37
  have.
• 31:38
  How
• 31:38
  do
• 31:38
  you
• 31:38
  deliver
• 31:39
  efficient?
• 31:39
  How
• 31:39
  do
• 31:39
  you
• 31:40
  deliver
• 31:40
  an
• 31:40
  excellent
• 31:40
  customer
• 31:41
  proposition,
• 31:41
  efficiently
• 31:42
  make
• 31:42
  it
• 31:42
  profitable?
• 31:44
  And
• 31:45
  E
• 31:45
  commerce
• 31:46
  is
• 31:46
  kind
• 31:46
  of
• 31:46
  that
• 31:47
  thing
• 31:47
  that
• 31:47
  grocers
• 31:48
  have
• 31:48
  tried
• 31:48
  to
• 31:48
  ignore.
• 31:49
  But
• 31:49
  actually
• 31:49
  as
• 31:50
  the
• 31:50
  customer
• 31:51
  wants
• 31:51
  it,
• 31:51
  the
• 31:51
  customer
• 31:52
  is
• 31:52
  driving
• 31:52
  this.
• 31:52
  And
• 31:52
  you're
• 31:53
  seeing
• 31:53
  growth
• 31:53
  everywhere
• 31:54
  around
• 31:54
  the
• 31:54
  world
• 31:54
  and
• 31:55
  particularly
• 31:55
  in
• 31:55
  the
• 31:55
  US.
• 31:59
  We.
• 31:59
  Will
• 31:59
  create
• 31:59
  more
• 32:00
  value
• 32:01
  and
• 32:01
  our
• 32:01
  platform
• 32:01
  will
• 32:02
  create
• 32:02
  more
• 32:02
  value
• 32:02
  if
• 32:03
  we
• 32:03
  can
• 32:03
  get
• 32:03
  more
• 32:03
  people
• 32:04
  operating
• 32:04
  it.
• 32:05
  From
• 32:05
  our
• 32:06
  point
• 32:06
  of
• 32:06
  view,
• 32:06
  this
• 32:07
  is
• 32:07
  now
• 32:07
  a
• 32:07
  new
• 32:07
  growth
• 32:08
  leverage
• 32:09
  for
• 32:09
  the
• 32:09
  ROELIT
• 32:10
  group.
• 32:11
  We
• 32:11
  can
• 32:11
  now
• 32:12
  use
• 32:12
  this
• 32:12
  to
• 32:13
  actually
• 32:13
  enhance
• 32:13
  our
• 32:14
  growth.
• 32:14
  But
• 32:15
  from
• 32:15
  a
• 32:16
  point
• 32:16
  of
• 32:16
  view
• 32:16
  of
• 32:16
  our
• 32:17
  partners,
• 32:19
  they
• 32:19
  get
• 32:19
  a
• 32:20
  provider
• 32:20
  who's
• 32:21
  got
• 32:21
  skin
• 32:21
  in
• 32:21
  the
• 32:21
  game
• 32:22
  because
• 32:22
  this
• 32:23
  is
• 32:23
  something,
• 32:24
  this
• 32:24
  is
• 32:24
  our
• 32:24
  technology
• 32:25
  that
• 32:25
  we
• 32:25
  make
• 32:25
  work
• 32:26
  and
• 32:26
  we
• 32:26
  have
• 32:26
  to
• 32:26
  make
• 32:26
  work.
• 32:28
  So
• 32:28
  for
• 32:28
  us,
• 32:29
  it's
• 32:29
  a
• 32:30
  perfect
• 32:30
  fit.
• 32:31
  And
• 32:31
  frankly,
• 32:32
  we
• 32:32
  also
• 32:32
  just
• 32:32
  want
• 32:32
  to
• 32:33
  Prove
• 32:33
  we
• 32:34
  have
• 32:34
  a
• 32:34
  strong
• 32:34
  belief
• 32:34
  that
• 32:35
  E
• 32:35
  Commerce
• 32:35
  Grocery
• 32:36
  can
• 32:36
  be
• 32:37
  successful,
• 32:37
  profitable,
• 32:39
  and
• 32:39
  we
• 32:39
  just
• 32:39
  want
• 32:39
  to
• 32:39
  prove
• 32:40
  that
• 32:40
  works.
• 32:40
  All
• 32:41
  right,
• 32:41
  well,
• 32:41
  we
• 32:41
  are
• 32:42
  anxious
• 32:42
  to
• 32:42
  see
• 32:42
  how
• 32:43
  it
• 32:43
  goes
• 32:43
  for
• 32:43
  you,
• 32:44
  Richard.
• 32:44
  So
• 32:44
  thank
• 32:44
  you
• 32:45
  very
• 32:45
  much
• 32:45
  for
• 32:45
  appearing
• 32:45
  on
• 32:46
  today's
• 32:46
  program.
• 32:47
  My
• 32:47
  pleasure.
• 32:48
  Thank
• 32:48
  you.
• 32:52
  Headline
• 32:52
  number
• 32:52
  four.
• 32:53
  Save
• 32:53
  Mart
• 32:53
  and
• 32:53
  Amazon
• 32:54
  are
• 32:54
  partnering
• 32:54
  on
• 32:55
  in
• 32:55
  store
• 32:55
  return
• 32:56
  kiosks
• 32:56
  according
• 32:57
  to
• 32:57
  chainsaw
• 32:57
  as
• 32:57
  the
• 32:57
  SaveMart
• 32:58
  companies
• 32:58
  is
• 32:59
  implementing
• 32:59
  Amazon
• 32:59
  return
• 33:00
  kiosks
• 33:00
  across
• 33:00
  its
• 33:01
  SafeMart,
• 33:01
  Lucky
• 33:02
  and
• 33:02
  FoodMax
• 33:02
  banners
• 33:03
  after
• 33:03
  a
• 33:03
  successful
• 33:04
  pilot
• 33:05
  program.
• 33:05
  I
• 33:06
  cannot
• 33:06
  say
• 33:06
  pilot
• 33:07
  for
• 33:07
  the
• 33:07
  life
• 33:07
  of
• 33:07
  me.
• 33:08
  Pilot
• 33:08
  program
• 33:09
  in
• 33:09
  15
• 33:09
  stores
• 33:09
  across
• 33:10
  California
• 33:10
  and
• 33:10
  Nevada.
• 33:11
  The
• 33:11
  service
• 33:12
  expanded
• 33:12
  to
• 33:12
  140
• 33:13
  additional
• 33:13
  stores
• 33:14
  by
• 33:14
  the
• 33:14
  end
• 33:14
  of
• 33:14
  December.
• 33:15
  Kiosk
• 33:16
  will
• 33:16
  be
• 33:16
  available
• 33:16
  at
• 33:16
  all
• 33:16
  remaining
• 33:17
  stores
• 33:17
  by
• 33:17
  February
• 33:18
  2026.
• 33:19
  The
• 33:19
  program
• 33:19
  allows
• 33:20
  customers
• 33:20
  to
• 33:20
  return
• 33:20
  eligible
• 33:21
  Amazon
• 33:21
  items
• 33:22
  during
• 33:22
  their
• 33:22
  grocery
• 33:23
  run
• 33:23
  with
• 33:23
  no
• 33:23
  shipping
• 33:24
  box,
• 33:24
  tape
• 33:24
  or
• 33:25
  label
• 33:25
  required.
• 33:26
  Bags
• 33:26
  and
• 33:26
  labels
• 33:27
  are
• 33:27
  provided
• 33:27
  at
• 33:27
  the
• 33:27
  kiosk
• 33:28
  where
• 33:28
  customers
• 33:28
  scan
• 33:29
  a
• 33:29
  QR
• 33:29
  code,
• 33:29
  bag
• 33:30
  their
• 33:30
  items
• 33:30
  and
• 33:30
  drop
• 33:31
  them
• 33:31
  off
• 33:31
  securely.
• 33:32
  And
• 33:32
  what
• 33:32
  do
• 33:32
  you
• 33:32
  think
• 33:32
  of
• 33:33
  Amazon
• 33:33
  return
• 33:33
  kiosks
• 33:34
  at
• 33:34
  Save
• 33:34
  Mart,
• 33:35
  both
• 33:35
  for
• 33:35
  Save
• 33:36
  Mart
• 33:36
  and
• 33:36
  also
• 33:37
  for
• 33:37
  Amazon?
• 33:38
  I
• 33:39
  love
• 33:39
  it.
• 33:39
  I
• 33:39
  think
• 33:40
  that.
• 33:41
  Do
• 33:41
  you
• 33:42
  need
• 33:42
  a
• 33:42
  person
• 33:43
  behind
• 33:43
  the
• 33:43
  desk
• 33:44
  that's
• 33:44
  taken
• 33:45
  up
• 33:45
  time
• 33:45
  to
• 33:46
  accept
• 33:47
  all
• 33:47
  of
• 33:47
  these
• 33:47
  Amazon
• 33:48
  returns
• 33:48
  that
• 33:48
  are
• 33:49
  flooding
• 33:49
  these
• 33:49
  retailers?
• 33:50
  I
• 33:51
  don't
• 33:51
  think
• 33:51
  so.
• 33:51
  I
• 33:51
  think
• 33:52
  that
• 33:52
  we've
• 33:52
  reached
• 33:52
  a
• 33:53
  stage
• 33:53
  in
• 33:54
  consumer
• 33:55
  adoption
• 33:56
  where
• 33:56
  they're
• 33:57
  used
• 33:57
  to,
• 33:57
  okay,
• 33:58
  I
• 33:58
  scan
• 33:58
  a
• 33:58
  QR
• 33:58
  code,
• 33:59
  here's
• 33:59
  my
• 33:59
  package.
• 34:00
  Especially
• 34:00
  without
• 34:01
  having
• 34:01
  to
• 34:01
  do
• 34:01
  boxes
• 34:02
  or
• 34:02
  labeling.
• 34:03
  I
• 34:03
  think,
• 34:04
  you
• 34:04
  know,
• 34:04
  if,
• 34:04
  if
• 34:04
  this
• 34:05
  setup
• 34:06
  is
• 34:06
  working
• 34:06
  in
• 34:06
  the
• 34:06
  test
• 34:07
  stores
• 34:07
  that
• 34:07
  Save
• 34:07
  Mart
• 34:08
  has
• 34:08
  been
• 34:08
  doing
• 34:08
  this
• 34:08
  in
• 34:08
  already,
• 34:09
  they've,
• 34:10
  they've
• 34:10
  kind
• 34:10
  of
• 34:10
  evaluated
• 34:11
  all
• 34:11
  the
• 34:11
  things
• 34:11
  from
• 34:12
  returns
• 34:12
  fraud
• 34:13
  to
• 34:13
  all
• 34:13
  the
• 34:13
  other
• 34:13
  items
• 34:14
  that,
• 34:14
  you
• 34:14
  know,
• 34:15
  you
• 34:15
  know,
• 34:15
  whether
• 34:15
  or
• 34:15
  not
• 34:15
  they're
• 34:16
  getting
• 34:16
  the
• 34:16
  right
• 34:16
  items
• 34:17
  back.
• 34:17
  I
• 34:17
  think
• 34:18
  it,
• 34:18
  it
• 34:19
  makes
• 34:19
  sense
• 34:19
  to
• 34:19
  me
• 34:20
  that
• 34:20
  we
• 34:20
  try
• 34:20
  to
• 34:20
  speed
• 34:21
  this
• 34:21
  up
• 34:21
  and
• 34:22
  then
• 34:22
  take
• 34:22
  Save
• 34:22
  Mart
• 34:23
  team
• 34:23
  members
• 34:23
  who
• 34:24
  were
• 34:24
  bogged
• 34:25
  down.
• 34:25
  I
• 34:25
  mean,
• 34:25
  during
• 34:25
  the
• 34:26
  holidays,
• 34:26
  I
• 34:26
  don't
• 34:26
  know
• 34:27
  if
• 34:27
  you
• 34:27
  were
• 34:27
  at
• 34:27
  a
• 34:28
  Kohl's
• 34:28
  or
• 34:29
  at
• 34:29
  a
• 34:29
  Whole
• 34:29
  Foods.
• 34:30
  I
• 34:30
  spent
• 34:30
  some
• 34:30
  time
• 34:30
  in
• 34:31
  there
• 34:31
  and
• 34:31
  the
• 34:31
  line
• 34:32
  returns
• 34:32
  were
• 34:32
  just
• 34:33
  insane.
• 34:34
  And
• 34:34
  that's
• 34:35
  taking,
• 34:35
  you
• 34:35
  know,
• 34:35
  Whole
• 34:36
  Foods
• 34:36
  employees,
• 34:36
  in
• 34:36
  this
• 34:37
  case
• 34:37
  or
• 34:37
  Kohl's
• 34:37
  employees
• 34:38
  off
• 34:38
  the
• 34:39
  floor
• 34:39
  when
• 34:39
  they
• 34:39
  could
• 34:39
  be
• 34:40
  restocking
• 34:40
  shelves,
• 34:41
  they
• 34:41
  could
• 34:41
  be
• 34:41
  assisting
• 34:42
  customers.
• 34:42
  And
• 34:42
  so
• 34:43
  I
• 34:43
  think
• 34:43
  this
• 34:43
  eliminates
• 34:44
  that
• 34:44
  huge,
• 34:45
  huge
• 34:45
  bottleneck
• 34:46
  of,
• 34:47
  of
• 34:47
  the
• 34:48
  retailers
• 34:48
  having
• 34:48
  to
• 34:49
  put
• 34:49
  their
• 34:49
  own
• 34:49
  teams
• 34:50
  on
• 34:51
  taking
• 34:51
  in
• 34:52
  these
• 34:52
  returns
• 34:52
  because
• 34:53
  I
• 34:53
  don't
• 34:53
  think
• 34:53
  that
• 34:54
  the,
• 34:54
  the
• 34:54
  reward
• 34:55
  was
• 34:55
  there
• 34:55
  for
• 34:56
  them.
• 34:57
  I,
• 34:57
  I
• 34:57
  also
• 34:58
  think
• 34:58
  that,
• 34:59
  you
• 34:59
  know,
• 34:59
  from
• 34:59
  Amazon's
• 35:00
  perspective,
• 35:00
  this
• 35:01
  is
• 35:01
  great.
• 35:01
  You
• 35:01
  have
• 35:01
  how
• 35:02
  many
• 35:02
  new
• 35:02
  stores
• 35:03
  now
• 35:03
  that
• 35:03
  customers
• 35:03
  can
• 35:04
  opt
• 35:04
  into
• 35:04
  to
• 35:04
  return
• 35:05
  things.
• 35:05
  You
• 35:06
  get
• 35:06
  things
• 35:06
  back
• 35:07
  to
• 35:07
  the
• 35:07
  Amazon
• 35:08
  sellers,
• 35:08
  back
• 35:09
  into
• 35:09
  the
• 35:09
  marketplaces
• 35:10
  more
• 35:10
  quickly.
• 35:11
  And
• 35:11
  for
• 35:11
  customers,
• 35:12
  it
• 35:12
  seems
• 35:13
  like
• 35:13
  this
• 35:13
  is
• 35:13
  going
• 35:13
  to
• 35:14
  be
• 35:14
  an
• 35:14
  overall
• 35:14
  better
• 35:15
  experience
• 35:15
  for
• 35:15
  them
• 35:16
  too.
• 35:17
  They
• 35:17
  have
• 35:17
  the
• 35:18
  products
• 35:18
  that
• 35:18
  they're
• 35:18
  looking
• 35:18
  for
• 35:19
  when
• 35:19
  they
• 35:19
  go
• 35:19
  into
• 35:19
  the
• 35:20
  Save
• 35:20
  Mart
• 35:20
  stores
• 35:20
  because
• 35:21
  the
• 35:21
  stores
• 35:21
  are
• 35:21
  better
• 35:21
  stocked,
• 35:22
  they
• 35:22
  have
• 35:22
  access
• 35:22
  to
• 35:23
  associates
• 35:24
  if
• 35:24
  they
• 35:24
  need
• 35:24
  them
• 35:25
  to
• 35:25
  help
• 35:25
  them
• 35:25
  find
• 35:26
  things
• 35:26
  because
• 35:26
  they're
• 35:26
  not
• 35:27
  stuck
• 35:27
  behind
• 35:27
  an
• 35:27
  Amazon
• 35:28
  returns
• 35:28
  counter.
• 35:29
  And
• 35:30
  it
• 35:30
  actually
• 35:30
  allows
• 35:31
  those
• 35:31
  customers
• 35:32
  to
• 35:32
  get
• 35:32
  in,
• 35:33
  grab
• 35:33
  the
• 35:33
  things
• 35:33
  that
• 35:34
  they
• 35:34
  need,
• 35:34
  the
• 35:34
  one
• 35:34
  stop
• 35:35
  shop
• 35:36
  instead
• 35:36
  of
• 35:36
  having
• 35:37
  to
• 35:37
  wait
• 35:37
  in
• 35:37
  lines
• 35:38
  or
• 35:38
  have
• 35:38
  a
• 35:38
  more
• 35:38
  cumbersome
• 35:39
  experience.
• 35:39
  So
• 35:40
  I
• 35:40
  think
• 35:40
  it's
• 35:41
  a
• 35:41
  great
• 35:41
  ad
• 35:42
  for
• 35:42
  both
• 35:42
  parties
• 35:43
  and
• 35:43
  I'm
• 35:43
  excited
• 35:43
  to
• 35:43
  see
• 35:43
  what
• 35:44
  happens
• 35:44
  once
• 35:44
  they
• 35:44
  expand
• 35:45
  this
• 35:45
  more
• 35:45
  broadly.
• 35:46
  You
• 35:46
  like
• 35:46
  it
• 35:46
  for
• 35:47
  both?
• 35:47
  Wow.
• 35:47
  Okay,
• 35:48
  wow.
• 35:48
  Well,
• 35:49
  I
• 35:49
  love
• 35:49
  it
• 35:49
  for
• 35:49
  Amazon,
• 35:50
  I
• 35:50
  hate
• 35:50
  it
• 35:50
  for
• 35:50
  Save
• 35:51
  Mart.
• 35:51
  I
• 35:51
  hate
• 35:51
  it
• 35:52
  Amazon.
• 35:53
  I'm
• 35:53
  like,
• 35:53
  sure,
• 35:53
  why
• 35:53
  not?
• 35:53
  The
• 35:54
  more
• 35:54
  locations,
• 35:54
  the
• 35:54
  better
• 35:55
  for
• 35:55
  them.
• 35:55
  That's
• 35:55
  like
• 35:55
  a
• 35:56
  no
• 35:56
  brainer.
• 35:56
  And
• 35:56
  putting,
• 35:57
  I
• 35:57
  think
• 35:57
  the
• 35:57
  interesting
• 35:58
  thing
• 35:58
  about
• 35:58
  this
• 35:58
  is
• 35:58
  putting
• 35:59
  these
• 35:59
  inside
• 35:59
  a
• 35:59
  grocery
• 36:00
  store
• 36:00
  has
• 36:01
  far
• 36:01
  more
• 36:01
  customer
• 36:02
  utility
• 36:02
  than
• 36:02
  saying
• 36:03
  going
• 36:03
  to
• 36:03
  a
• 36:03
  UPS
• 36:04
  store
• 36:04
  or
• 36:04
  even
• 36:04
  a
• 36:04
  Whole
• 36:05
  Foods
• 36:05
  and
• 36:05
  definitely
• 36:06
  a
• 36:06
  Kohl's.
• 36:06
  You
• 36:06
  know,
• 36:07
  if
• 36:07
  I
• 36:07
  throw,
• 36:07
  if
• 36:07
  I
• 36:07
  want
• 36:07
  to,
• 36:08
  you
• 36:08
  know,
• 36:08
  shot
• 36:09
  fire
• 36:09
  some
• 36:09
  shots
• 36:09
  at
• 36:09
  Kohl's
• 36:10
  this
• 36:10
  morning.
• 36:11
  But
• 36:11
  you
• 36:11
  know,
• 36:11
  for
• 36:12
  Save
• 36:12
  Mart,
• 36:13
  I
• 36:13
  just
• 36:14
  don't
• 36:14
  like
• 36:14
  it.
• 36:14
  I
• 36:14
  think
• 36:15
  it's
• 36:15
  a
• 36:15
  short
• 36:15
  sighted
• 36:16
  effort
• 36:16
  that
• 36:17
  still
• 36:17
  takes
• 36:17
  capital
• 36:18
  and
• 36:18
  it
• 36:19
  takes
• 36:19
  the
• 36:19
  focus
• 36:19
  of
• 36:19
  your
• 36:20
  employees.
• 36:20
  So
• 36:20
  I
• 36:20
  think
• 36:20
  it's
• 36:20
  a
• 36:21
  little
• 36:21
  naive
• 36:21
  to
• 36:21
  say
• 36:21
  like,
• 36:22
  you
• 36:22
  know,
• 36:22
  the
• 36:23
  Shademart
• 36:23
  employees
• 36:24
  don't
• 36:24
  have
• 36:24
  to
• 36:24
  do
• 36:24
  anything
• 36:24
  because
• 36:25
  if
• 36:25
  a
• 36:25
  customer's
• 36:25
  having
• 36:26
  been
• 36:26
  a
• 36:26
  store
• 36:26
  manager
• 36:27
  and
• 36:27
  worked
• 36:28
  in
• 36:28
  a
• 36:28
  store,
• 36:28
  if
• 36:28
  a
• 36:29
  customer's
• 36:29
  having
• 36:29
  a
• 36:29
  problem
• 36:29
  with
• 36:30
  that
• 36:30
  kiosk,
• 36:30
  they're
• 36:31
  going
• 36:31
  to
• 36:31
  go
• 36:31
  to
• 36:31
  the
• 36:31
  store
• 36:31
  people
• 36:32
  to
• 36:32
  help
• 36:32
  them
• 36:32
  solve
• 36:33
  it.
• 36:33
  And
• 36:33
  that's
• 36:33
  a
• 36:33
  pain
• 36:34
  in
• 36:34
  the
• 36:34
  ass.
• 36:34
  So
• 36:35
  you
• 36:35
  know,
• 36:36
  it's
• 36:36
  just
• 36:36
  like
• 36:36
  in
• 36:36
  Kohl's,
• 36:37
  like
• 36:37
  you're
• 36:37
  letting
• 36:37
  the
• 36:37
  rooster
• 36:38
  in
• 36:38
  the
• 36:38
  head
• 36:38
  in
• 36:38
  the,
• 36:39
  into
• 36:39
  the
• 36:39
  hen
• 36:39
  house
• 36:40
  number
• 36:40
  one,
• 36:40
  which
• 36:40
  I
• 36:40
  don't
• 36:40
  like.
• 36:41
  And
• 36:41
  you're
• 36:41
  tying
• 36:42
  your
• 36:42
  traffic
• 36:42
  into
• 36:43
  something
• 36:43
  that
• 36:43
  has
• 36:44
  nothing
• 36:44
  to
• 36:44
  do
• 36:44
  with
• 36:44
  selling
• 36:45
  groceries
• 36:46
  and
• 36:46
  could
• 36:46
  easily
• 36:47
  be
• 36:47
  replicated
• 36:47
  by
• 36:48
  any
• 36:48
  of
• 36:48
  the
• 36:48
  other
• 36:48
  grocers
• 36:49
  with
• 36:49
  which
• 36:49
  you
• 36:50
  compete.
• 36:51
  So
• 36:51
  in
• 36:51
  the
• 36:51
  long
• 36:51
  term
• 36:51
  it
• 36:51
  does
• 36:52
  nothing
• 36:52
  for
• 36:52
  you
• 36:53
  to
• 36:53
  differentiate
• 36:53
  yourself
• 36:54
  competitively.
• 36:55
  So
• 36:55
  again,
• 36:55
  I'm
• 36:55
  on
• 36:56
  the
• 36:56
  stump
• 36:56
  of
• 36:56
  with
• 36:57
  this
• 36:57
  story
• 36:57
  and
• 36:57
  with
• 36:57
  Kroger,
• 36:58
  it's
• 36:58
  like
• 36:58
  where
• 36:59
  are
• 36:59
  we
• 36:59
  really
• 36:59
  focused?
• 36:59
  What
• 37:00
  are
• 37:00
  we
• 37:00
  really
• 37:00
  trying
• 37:00
  to
• 37:00
  do?
• 37:01
  What
• 37:01
  are
• 37:01
  we
• 37:01
  as
• 37:01
  leadership
• 37:02
  team
• 37:02
  trying
• 37:02
  to
• 37:03
  pull
• 37:03
  off
• 37:03
  to
• 37:03
  create
• 37:04
  long
• 37:04
  term
• 37:04
  differentiation?
• 37:05
  That's
• 37:05
  why
• 37:05
  I
• 37:05
  don't
• 37:06
  like
• 37:06
  it.
• 37:06
  I
• 37:06
  think
• 37:06
  this
• 37:06
  is
• 37:06
  distracting
• 37:07
  and
• 37:07
  it
• 37:07
  doesn't
• 37:08
  amount
• 37:08
  to
• 37:08
  anything
• 37:08
  in
• 37:08
  the
• 37:09
  long
• 37:09
  run.
• 37:09
  You
• 37:09
  know
• 37:09
  Kohl's,
• 37:10
  at
• 37:10
  the
• 37:10
  Kohl's
• 37:11
  over
• 37:11
  the
• 37:11
  holidays
• 37:12
  they
• 37:12
  had
• 37:12
  three
• 37:12
  people
• 37:13
  assigned
• 37:13
  to
• 37:13
  Amazon
• 37:14
  returns.
• 37:14
  I
• 37:15
  think
• 37:15
  if
• 37:15
  you
• 37:15
  have
• 37:15
  a
• 37:15
  kiosk,
• 37:16
  having
• 37:16
  one
• 37:16
  person
• 37:17
  manage
• 37:17
  it
• 37:17
  just
• 37:17
  like
• 37:18
  a
• 37:18
  self
• 37:18
  checkout
• 37:19
  still
• 37:19
  gives
• 37:20
  you
• 37:20
  an
• 37:20
  opportunity
• 37:21
  to,
• 37:21
  you
• 37:22
  know,
• 37:22
  have
• 37:22
  that
• 37:22
  person
• 37:22
  floating
• 37:23
  giving
• 37:24
  guests
• 37:24
  a
• 37:24
  one
• 37:24
  on
• 37:25
  one
• 37:25
  high
• 37:25
  touch
• 37:26
  experience.
• 37:26
  So
• 37:27
  to
• 37:27
  me
• 37:27
  it
• 37:27
  doesn't
• 37:27
  seem
• 37:28
  like
• 37:29
  like
• 37:29
  an
• 37:29
  issue
• 37:29
  there
• 37:30
  to
• 37:30
  deploy
• 37:30
  you
• 37:31
  know
• 37:31
  a
• 37:31
  single
• 37:32
  resource
• 37:32
  that
• 37:32
  can
• 37:32
  be
• 37:33
  used
• 37:33
  for
• 37:33
  multiple
• 37:34
  things
• 37:34
  in
• 37:34
  that
• 37:35
  area.
• 37:35
  And
• 37:36
  I
• 37:36
  think
• 37:36
  you
• 37:36
  are
• 37:36
  getting
• 37:37
  more
• 37:37
  traffic
• 37:37
  for
• 37:38
  groceries
• 37:38
  versus
• 37:39
  a
• 37:39
  Kohl's
• 37:39
  or
• 37:40
  something
• 37:40
  like
• 37:40
  that.
• 37:40
  Like
• 37:40
  you
• 37:41
  don't
• 37:41
  need
• 37:41
  to
• 37:41
  buy
• 37:41
  something
• 37:41
  at
• 37:42
  Kohl's
• 37:42
  every
• 37:42
  day
• 37:42
  but
• 37:43
  the
• 37:43
  milk,
• 37:43
  egg
• 37:43
  and
• 37:43
  bread
• 37:44
  trip
• 37:44
  that
• 37:45
  could
• 37:45
  be
• 37:45
  accomplished
• 37:46
  while
• 37:46
  you're
• 37:46
  returning
• 37:47
  something
• 37:47
  or
• 37:47
  the,
• 37:48
  the
• 37:48
  fill
• 37:48
  in
• 37:48
  trip
• 37:48
  I
• 37:49
  think
• 37:49
  for
• 37:49
  grocery
• 37:50
  makes
• 37:50
  a
• 37:50
  lot
• 37:50
  more
• 37:50
  sense.
• 37:51
  All
• 37:51
  right,
• 37:52
  let's
• 37:52
  go
• 37:52
  to
• 37:52
  headline
• 37:52
  number
• 37:53
  five.
• 37:54
  Snook
• 37:54
  Markets
• 37:55
  is
• 37:55
  seeing
• 37:55
  some
• 37:55
  absolutely
• 37:56
  incredible
• 37:57
  results
• 37:57
  in
• 37:57
  preventing
• 37:58
  gift
• 37:59
  card
• 37:59
  fraud
• 37:59
  in
• 37:59
  a
• 37:59
  10
• 38:00
  store
• 38:00
  pilot.
• 38:01
  According
• 38:01
  to
• 38:01
  Chain
• 38:02
  Storage,
• 38:02
  the
• 38:02
  regional
• 38:03
  grocery
• 38:03
  chain
• 38:03
  deployed
• 38:04
  the
• 38:04
  new
• 38:04
  Digimarc
• 38:05
  Corp.
• 38:05
  End
• 38:05
  to
• 38:05
  end
• 38:05
  gift
• 38:06
  card
• 38:06
  security
• 38:06
  solution
• 38:07
  in
• 38:07
  10
• 38:07
  Chuck
• 38:08
  stores
• 38:08
  in
• 38:09
  the
• 38:09
  St.
• 38:09
  Louis
• 38:09
  area
• 38:09
  for
• 38:10
  a
• 38:10
  10
• 38:10
  week
• 38:10
  period
• 38:11
  with
• 38:11
  100%
• 38:12
  of
• 38:12
  Digimarc
• 38:13
  protected
• 38:13
  gift
• 38:14
  cards
• 38:14
  activated
• 38:14
  successfully
• 38:15
  and
• 38:16
  no
• 38:16
  reported
• 38:16
  fraud
• 38:17
  on
• 38:17
  any
• 38:17
  cards
• 38:18
  secured
• 38:18
  by
• 38:18
  digimarc.
• 38:19
  If
• 38:19
  the
• 38:19
  scanner
• 38:20
  detected
• 38:20
  any
• 38:20
  evidence
• 38:21
  of
• 38:21
  tampering,
• 38:21
  the
• 38:22
  gift
• 38:22
  card
• 38:22
  wouldn't
• 38:22
  activate
• 38:23
  stopping
• 38:24
  fraud
• 38:24
  before
• 38:24
  it
• 38:25
  reached
• 38:25
  customers.
• 38:26
  Scan
• 38:26
  cards
• 38:26
  with
• 38:27
  untampered
• 38:27
  watermarks
• 38:28
  activated
• 38:29
  instantly.
• 38:30
  Specific
• 38:31
  store
• 38:31
  level
• 38:32
  results
• 38:32
  of
• 38:32
  the
• 38:32
  pilot
• 38:33
  included
• 38:33
  almost
• 38:34
  nine
• 38:34
  in
• 38:34
  ten
• 38:34
  87%
• 38:35
  of
• 38:35
  cashiers
• 38:36
  and
• 38:36
  pilot
• 38:36
  stores
• 38:37
  said
• 38:37
  that
• 38:37
  cards
• 38:37
  protected
• 38:38
  by
• 38:38
  the
• 38:38
  digimarc
• 38:38
  solution
• 38:39
  activated
• 38:39
  as
• 38:39
  fast
• 38:40
  or
• 38:40
  faster
• 38:40
  than
• 38:40
  traditional
• 38:41
  gift
• 38:41
  cards
• 38:42
  resulting
• 38:42
  in
• 38:43
  faster
• 38:43
  checkout.
• 38:44
  Cashiers
• 38:45
  also
• 38:45
  said
• 38:45
  they
• 38:45
  no
• 38:45
  longer
• 38:46
  needed
• 38:46
  to
• 38:46
  open
• 38:46
  complex
• 38:47
  packaging
• 38:47
  or
• 38:47
  examine
• 38:48
  gift
• 38:48
  cards
• 38:48
  for
• 38:49
  fraud,
• 38:49
  which
• 38:49
  further
• 38:50
  streamlined
• 38:50
  checkout.
• 38:51
  No
• 38:52
  training
• 38:52
  was
• 38:52
  needed
• 38:53
  for
• 38:53
  customers
• 38:53
  at
• 38:54
  self
• 38:54
  service
• 38:54
  checkout
• 38:55
  and
• 38:55
  there
• 38:55
  was
• 38:56
  no
• 38:56
  impact
• 38:56
  to
• 38:56
  any
• 38:56
  other
• 38:57
  workflows
• 38:57
  or
• 38:57
  processes
• 38:58
  in
• 38:58
  stores
• 38:59
  or
• 38:59
  the
• 38:59
  supply
• 38:59
  chain.
• 39:00
  Chris,
• 39:01
  what
• 39:01
  do
• 39:01
  you
• 39:01
  think
• 39:01
  of
• 39:01
  the
• 39:01
  gift
• 39:02
  card
• 39:02
  use
• 39:02
  case
• 39:03
  for
• 39:03
  invisible
• 39:04
  Watermarks?
• 39:06
  And
• 39:06
  I
• 39:06
  love
• 39:06
  this
• 39:07
  use
• 39:07
  case.
• 39:07
  We
• 39:07
  pride
• 39:08
  ourselves
• 39:08
  on
• 39:08
  this
• 39:08
  show
• 39:09
  of
• 39:09
  scouring
• 39:09
  the
• 39:09
  headlines
• 39:10
  each
• 39:10
  and
• 39:10
  every
• 39:10
  week
• 39:10
  and
• 39:11
  pulling
• 39:11
  out
• 39:11
  what
• 39:11
  we
• 39:11
  think
• 39:12
  is
• 39:12
  immediately
• 39:13
  applicable
• 39:13
  to
• 39:13
  everyone.
• 39:14
  And
• 39:14
  this
• 39:14
  is
• 39:14
  one
• 39:14
  of
• 39:14
  those
• 39:14
  headlines
• 39:15
  that
• 39:15
  meets
• 39:15
  that
• 39:15
  grade
• 39:16
  100%.
• 39:17
  The
• 39:18
  results
• 39:18
  you
• 39:18
  mentioned,
• 39:18
  I
• 39:18
  mean
• 39:19
  they
• 39:19
  speak
• 39:19
  for
• 39:19
  themselves.
• 39:20
  Basically
• 39:21
  zero
• 39:21
  fraud
• 39:22
  over
• 39:22
  10
• 39:22
  weeks.
• 39:23
  That's
• 39:23
  just
• 39:23
  incredible.
• 39:24
  Like
• 39:25
  that's
• 39:25
  gobsmacking.
• 39:26
  Stop
• 39:26
  you
• 39:27
  in
• 39:27
  your
• 39:27
  tracks,
• 39:28
  digest
• 39:29
  like
• 39:29
  it's
• 39:29
  just
• 39:29
  nuts.
• 39:30
  So,
• 39:30
  and
• 39:30
  if
• 39:31
  you
• 39:31
  want
• 39:31
  to
• 39:31
  go
• 39:31
  down
• 39:31
  a
• 39:31
  rabbit
• 39:31
  hole,
• 39:32
  listeners
• 39:33
  look
• 39:33
  up
• 39:33
  on
• 39:34
  YouTube,
• 39:34
  all
• 39:34
  the
• 39:35
  links
• 39:35
  people
• 39:35
  will
• 39:36
  go
• 39:36
  to,
• 39:37
  to,
• 39:37
  to,
• 39:39
  to,
• 39:39
  to
• 39:39
  fraud
• 39:40
  people
• 39:40
  with
• 39:40
  gift
• 39:40
  cards.
• 39:41
  You
• 39:41
  know,
• 39:41
  and
• 39:41
  like,
• 39:42
  I
• 39:42
  remember
• 39:42
  my
• 39:42
  buddy
• 39:42
  Dave
• 39:43
  Stack
• 39:43
  telling
• 39:43
  me
• 39:43
  about,
• 39:43
  like,
• 39:44
  people
• 39:44
  put
• 39:44
  these
• 39:44
  in
• 39:44
  microwaves
• 39:45
  to
• 39:45
  get
• 39:45
  the
• 39:45
  little,
• 39:46
  like,
• 39:46
  you
• 39:46
  know,
• 39:46
  things
• 39:47
  that
• 39:47
  you
• 39:47
  scratch
• 39:47
  off
• 39:47
  to
• 39:48
  get
• 39:48
  them
• 39:48
  to
• 39:48
  peel
• 39:48
  off
• 39:48
  easily.
• 39:49
  And
• 39:49
  then
• 39:49
  they
• 39:49
  have
• 39:50
  replacement
• 39:50
  stickers
• 39:50
  that
• 39:51
  they
• 39:51
  can
• 39:51
  put
• 39:51
  on
• 39:51
  them.
• 39:51
  And,
• 39:52
  and
• 39:52
  that's,
• 39:52
  and
• 39:53
  then
• 39:53
  that's
• 39:53
  essentially
• 39:53
  what
• 39:53
  they
• 39:54
  do.
• 39:54
  They
• 39:54
  get
• 39:54
  the
• 39:54
  codes,
• 39:55
  they
• 39:55
  put
• 39:55
  them
• 39:55
  back
• 39:55
  on
• 39:56
  the
• 39:56
  shelves,
• 39:56
  then
• 39:56
  they
• 39:57
  wait
• 39:57
  for
• 39:57
  some
• 39:57
  unsuspecting
• 39:58
  dupe
• 39:58
  to
• 39:58
  come
• 39:59
  in,
• 39:59
  activate
• 39:59
  the
• 39:59
  card,
• 39:59
  and
• 40:00
  then
• 40:00
  all
• 40:00
  of
• 40:00
  a
• 40:00
  sudden
• 40:00
  they
• 40:00
  steal
• 40:00
  the
• 40:01
  money.
• 40:01
  So
• 40:02
  that's
• 40:02
  what's
• 40:03
  nuts
• 40:03
  about
• 40:03
  this.
• 40:03
  Digimark's
• 40:04
  invisible
• 40:04
  barcode
• 40:05
  essentially
• 40:05
  works
• 40:05
  to
• 40:06
  prevent
• 40:06
  all
• 40:07
  of
• 40:07
  that
• 40:07
  type
• 40:07
  of
• 40:07
  activity
• 40:08
  from
• 40:08
  happening.
• 40:09
  It's
• 40:09
  stellar
• 40:09
  tech
• 40:10
  and
• 40:10
  it's
• 40:10
  a
• 40:10
  stellar,
• 40:11
  stellar
• 40:12
  use
• 40:12
  case
• 40:12
  of
• 40:12
  invisible
• 40:13
  watermark
• 40:14
  technology,
• 40:14
  in
• 40:14
  my
• 40:15
  opinion.
• 40:16
  Yeah,
• 40:16
  I
• 40:16
  think
• 40:16
  the
• 40:17
  other
• 40:17
  part
• 40:17
  too,
• 40:17
  that
• 40:17
  I'd
• 40:18
  add,
• 40:18
  I
• 40:18
  agree,
• 40:18
  Chris.
• 40:18
  You
• 40:19
  know,
• 40:19
  they're
• 40:19
  also
• 40:19
  building
• 40:20
  on
• 40:20
  top
• 40:20
  of
• 40:21
  an
• 40:21
  existing
• 40:21
  technology
• 40:22
  that
• 40:22
  Schnooks
• 40:23
  has
• 40:23
  already
• 40:23
  invested
• 40:23
  in,
• 40:24
  which
• 40:24
  I
• 40:24
  think
• 40:24
  is
• 40:24
  a
• 40:24
  really
• 40:26
  noteworthy
• 40:27
  thing
• 40:27
  to
• 40:27
  call
• 40:27
  out
• 40:27
  here.
• 40:28
  They're
• 40:28
  already
• 40:28
  using
• 40:28
  digimark's
• 40:30
  invisible
• 40:30
  barcodes
• 40:31
  for
• 40:31
  a
• 40:31
  lot
• 40:31
  of
• 40:31
  their
• 40:31
  bulk
• 40:32
  items.
• 40:32
  And
• 40:33
  I
• 40:33
  think
• 40:33
  for,
• 40:33
  you
• 40:34
  know,
• 40:34
  all
• 40:34
  of
• 40:34
  the
• 40:35
  tech
• 40:35
  companies
• 40:36
  and
• 40:36
  tech
• 40:36
  partners
• 40:37
  out
• 40:37
  there
• 40:37
  listening,
• 40:37
  like,
• 40:38
  this
• 40:38
  is
• 40:38
  a
• 40:39
  great
• 40:39
  case
• 40:39
  study
• 40:40
  in
• 40:40
  how
• 40:40
  you
• 40:41
  continue
• 40:41
  to
• 40:41
  develop
• 40:42
  your
• 40:42
  existing
• 40:42
  relationship
• 40:43
  with
• 40:43
  your
• 40:44
  clients.
• 40:44
  You
• 40:45
  listen
• 40:45
  to
• 40:45
  what
• 40:45
  their
• 40:45
  needs
• 40:46
  are.
• 40:46
  What,
• 40:46
  what
• 40:47
  else
• 40:47
  can
• 40:47
  digimark
• 40:48
  do
• 40:48
  for
• 40:49
  their
• 40:49
  Snook
• 40:49
  client?
• 40:50
  And
• 40:50
  here
• 40:50
  was
• 40:50
  a
• 40:51
  great
• 40:51
  example.
• 40:52
  Where
• 40:52
  were
• 40:52
  they
• 40:52
  seeing
• 40:53
  fraud?
• 40:53
  First
• 40:53
  it
• 40:53
  was
• 40:54
  in
• 40:54
  bulk
• 40:54
  items,
• 40:55
  now
• 40:55
  gift
• 40:55
  cards.
• 40:55
  And
• 40:56
  they
• 40:56
  can
• 40:56
  attack
• 40:56
  this
• 40:56
  problem
• 40:57
  to
• 40:57
  the
• 40:57
  results
• 40:57
  that
• 40:58
  you
• 40:58
  were
• 40:58
  just
• 40:58
  talking
• 40:58
  about.
• 40:59
  I
• 40:59
  mean,
• 41:00
  it's
• 41:00
  very
• 41:01
  impressive.
• 41:01
  I
• 41:01
  think
• 41:02
  digimarc
• 41:02
  deserves
• 41:03
  a
• 41:03
  lot
• 41:03
  of
• 41:03
  kudos
• 41:03
  here
• 41:04
  for
• 41:04
  being
• 41:05
  a
• 41:05
  true
• 41:05
  partner
• 41:06
  with
• 41:06
  Schnooks
• 41:06
  to
• 41:07
  figure
• 41:07
  out,
• 41:07
  you
• 41:08
  know,
• 41:08
  how
• 41:08
  do
• 41:08
  we
• 41:08
  continue
• 41:09
  to
• 41:10
  serve
• 41:10
  the
• 41:10
  Schnooks
• 41:11
  customer
• 41:11
  and
• 41:11
  work
• 41:11
  with
• 41:12
  the
• 41:12
  Schnooks
• 41:12
  team?
• 41:13
  And
• 41:13
  the
• 41:13
  amount
• 41:13
  of
• 41:14
  fraud,
• 41:14
  Chris,
• 41:14
  did
• 41:14
  you
• 41:15
  know,
• 41:15
  like,
• 41:15
  I
• 41:15
  was
• 41:15
  looking
• 41:16
  at
• 41:16
  this
• 41:16
  gift
• 41:17
  card
• 41:17
  fraud,
• 41:17
  almost
• 41:18
  $200
• 41:18
  million
• 41:20
  just
• 41:20
  in
• 41:20
  the
• 41:20
  first
• 41:20
  three
• 41:21
  quarters
• 41:21
  of
• 41:21
  2025
• 41:22
  last
• 41:22
  year.
• 41:23
  They
• 41:23
  don't
• 41:23
  even
• 41:23
  have
• 41:23
  the
• 41:23
  holiday
• 41:24
  numbers
• 41:24
  added
• 41:24
  into
• 41:25
  that,
• 41:25
  which
• 41:25
  I'm
• 41:25
  sure
• 41:25
  is
• 41:26
  so
• 41:26
  much
• 41:26
  more.
• 41:27
  But
• 41:28
  this
• 41:28
  is
• 41:28
  a
• 41:28
  huge
• 41:29
  problem.
• 41:30
  25%
• 41:31
  of
• 41:31
  fraud
• 41:31
  complaints
• 41:32
  taken
• 41:32
  by
• 41:32
  the
• 41:32
  FTC
• 41:33
  are
• 41:33
  related
• 41:33
  to
• 41:34
  gift
• 41:34
  card
• 41:34
  scams.
• 41:35
  And
• 41:35
  they're
• 41:35
  not
• 41:35
  getting
• 41:36
  mad
• 41:36
  at
• 41:37
  Starbucks
• 41:37
  or
• 41:37
  wherever
• 41:38
  the
• 41:38
  gift
• 41:38
  card
• 41:38
  is
• 41:38
  for.
• 41:38
  They're
• 41:39
  getting
• 41:39
  mad
• 41:39
  at
• 41:39
  the
• 41:40
  retailer
• 41:40
  who's
• 41:40
  selling
• 41:41
  them
• 41:41
  the
• 41:41
  gift
• 41:41
  card.
• 41:41
  So
• 41:42
  I
• 41:42
  think
• 41:42
  this
• 41:42
  has
• 41:42
  just
• 41:43
  eliminated
• 41:43
  problems
• 41:44
  across
• 41:44
  the
• 41:44
  board
• 41:45
  and
• 41:45
  I
• 41:45
  think
• 41:45
  is
• 41:46
  a
• 41:46
  really,
• 41:46
  really
• 41:47
  great
• 41:48
  example
• 41:48
  of
• 41:49
  technology
• 41:50
  that's
• 41:50
  getting
• 41:51
  in
• 41:51
  and
• 41:51
  making
• 41:51
  some
• 41:51
  real
• 41:52
  bottom
• 41:53
  line
• 41:53
  changes
• 41:54
  for
• 41:54
  retailers
• 41:55
  in
• 41:55
  the
• 41:55
  industry.
• 41:56
  Yeah,
• 41:57
  and
• 41:57
  the
• 41:57
  fact
• 41:57
  that
• 41:57
  you
• 41:57
  could
• 41:57
  potentially
• 41:58
  take
• 41:58
  that
• 41:58
  down
• 41:58
  to
• 41:59
  zero.
• 42:00
  Right.
• 42:00
  Nuts.
• 42:01
  You
• 42:01
  know,
• 42:01
  I
• 42:01
  mean,
• 42:01
  the
• 42:01
  criminals
• 42:02
  will
• 42:02
  figure
• 42:02
  something
• 42:02
  out
• 42:03
  eventually,
• 42:03
  but
• 42:03
  in
• 42:04
  the
• 42:04
  short
• 42:04
  term,
• 42:04
  like,
• 42:05
  if
• 42:05
  you
• 42:05
  can
• 42:05
  get
• 42:05
  in
• 42:05
  front
• 42:05
  of
• 42:06
  this,
• 42:06
  you
• 42:07
  as
• 42:07
  a
• 42:07
  retailer
• 42:07
  can
• 42:07
  make
• 42:07
  a
• 42:08
  pretty
• 42:08
  significant
• 42:08
  impact
• 42:08
  to
• 42:09
  your
• 42:09
  bottom
• 42:09
  line
• 42:09
  pretty
• 42:09
  quickly.
• 42:10
  So
• 42:10
  I,
• 42:10
  I
• 42:10
  love
• 42:11
  this
• 42:11
  move.
• 42:11
  It's
• 42:11
  great.
• 42:12
  All
• 42:12
  right,
• 42:13
  let's
• 42:13
  go
• 42:13
  to
• 42:13
  the
• 42:13
  lightning
• 42:13
  round.
• 42:14
  Chris,
• 42:14
  question
• 42:14
  number
• 42:15
  one.
• 42:16
  I
• 42:16
  heard
• 42:16
  this
• 42:17
  headline
• 42:17
  and
• 42:17
  had
• 42:18
  to
• 42:18
  ask
• 42:18
  you
• 42:18
  about
• 42:18
  it.
• 42:19
  Big
• 42:19
  news
• 42:19
  from
• 42:20
  LEGO
• 42:20
  out
• 42:21
  of
• 42:21
  ces.
• 42:21
  This
• 42:21
  week,
• 42:22
  LEGO
• 42:23
  has
• 42:23
  announced
• 42:23
  smart
• 42:24
  bricks,
• 42:24
  a
• 42:24
  computer
• 42:25
  that
• 42:25
  fits
• 42:26
  into
• 42:26
  a
• 42:26
  2x4
• 42:27
  brick
• 42:28
  that
• 42:28
  enables
• 42:29
  your
• 42:29
  LEGO
• 42:29
  creations
• 42:30
  to
• 42:30
  now
• 42:30
  have
• 42:30
  sound,
• 42:31
  light
• 42:32
  and
• 42:32
  motion.
• 42:33
  And
• 42:33
  they
• 42:33
  will
• 42:34
  debut
• 42:34
  as
• 42:34
  part
• 42:35
  of
• 42:35
  their
• 42:35
  Star
• 42:35
  wars
• 42:36
  sets
• 42:37
  on
• 42:37
  March
• 42:38
  1st.
• 42:38
  Chris,
• 42:39
  how
• 42:39
  much
• 42:39
  of
• 42:39
  a
• 42:39
  priority
• 42:40
  will
• 42:41
  it
• 42:41
  be
• 42:41
  for
• 42:41
  you
• 42:42
  to
• 42:42
  have
• 42:42
  one
• 42:42
  of
• 42:42
  these
• 42:43
  smart
• 42:43
  bricks
• 42:43
  in
• 42:44
  your
• 42:44
  LEGO
• 42:44
  collection?
• 42:45
  Wow.
• 42:46
  Yeah,
• 42:46
  no,
• 42:46
  I'm
• 42:46
  not,
• 42:46
  I'm
• 42:46
  not
• 42:47
  jumping
• 42:47
  on
• 42:47
  this
• 42:47
  one,
• 42:47
  but,
• 42:48
  you
• 42:48
  know,
• 42:48
  but
• 42:48
  if
• 42:49
  LEGO
• 42:49
  wants
• 42:49
  to
• 42:50
  create
• 42:50
  a
• 42:50
  life
• 42:50
  size
• 42:50
  Darth
• 42:51
  Vader,
• 42:52
  I'm
• 42:52
  all
• 42:52
  in
• 42:53
  whenever
• 42:53
  that
• 42:53
  gets
• 42:53
  released.
• 42:54
  So
• 42:54
  Lego,
• 42:54
  if
• 42:54
  you're
• 42:55
  listening,
• 42:55
  help
• 42:55
  a
• 42:55
  brother
• 42:55
  out,
• 42:56
  make
• 42:56
  my
• 42:57
  dreams
• 42:57
  come
• 42:57
  true.
• 42:58
  Life
• 42:58
  size
• 42:58
  Darth
• 42:59
  Vader
• 42:59
  build
• 42:59
  kit.
• 43:00
  That's
• 43:00
  what
• 43:00
  I
• 43:00
  want,
• 43:01
  that's
• 43:01
  what
• 43:01
  I'm
• 43:01
  dying
• 43:02
  to
• 43:02
  get.
• 43:02
  And
• 43:02
  I
• 43:02
  would
• 43:02
  spend
• 43:03
  a
• 43:03
  ton
• 43:03
  of
• 43:03
  money
• 43:04
  on
• 43:04
  that.
• 43:04
  I'd
• 43:04
  probably
• 43:05
  put
• 43:05
  myself
• 43:05
  into
• 43:05
  Hawk
• 43:06
  just
• 43:06
  to
• 43:06
  get
• 43:06
  that.
• 43:07
  All
• 43:07
  right,
• 43:07
  next
• 43:07
  one.
• 43:07
  Ashley
• 43:08
  Tisdale
• 43:09
  recently
• 43:09
  quit
• 43:09
  her
• 43:10
  toxic
• 43:10
  mom
• 43:10
  group.
• 43:11
  This
• 43:11
  has
• 43:11
  been
• 43:11
  blowing
• 43:11
  up
• 43:12
  the
• 43:12
  headlines
• 43:12
  lately,
• 43:13
  which
• 43:13
  reportedly
• 43:14
  included
• 43:14
  several
• 43:15
  other
• 43:15
  celebrities
• 43:16
  because
• 43:17
  it
• 43:17
  ended
• 43:17
  up
• 43:17
  reminding
• 43:18
  her
• 43:18
  of
• 43:18
  high
• 43:18
  school
• 43:19
  cliques
• 43:19
  and
• 43:19
  left
• 43:19
  her
• 43:20
  feeling,
• 43:20
  quote,
• 43:20
  unquote,
• 43:20
  frozen
• 43:21
  out
• 43:21
  at
• 43:22
  a
• 43:22
  vulnerable
• 43:22
  time.
• 43:23
  And
• 43:23
  have
• 43:23
  you
• 43:23
  ever
• 43:24
  been
• 43:24
  part
• 43:24
  of
• 43:24
  a
• 43:24
  toxic
• 43:24
  mom
• 43:25
  group?
• 43:25
  I'm
• 43:25
  curious,
• 43:25
  have
• 43:26
  you
• 43:26
  ever
• 43:26
  felt
• 43:27
  this
• 43:27
  or
• 43:27
  experienced
• 43:27
  anything
• 43:28
  that
• 43:28
  she's
• 43:28
  describing?
• 43:29
  No.
• 43:29
  That
• 43:30
  sounds
• 43:30
  awful.
• 43:30
  I
• 43:31
  would
• 43:32
  silence
• 43:32
  that
• 43:32
  text
• 43:33
  thread
• 43:34
  right
• 43:34
  away.
• 43:34
  No,
• 43:35
  all
• 43:35
  my,
• 43:35
  my
• 43:36
  mom
• 43:36
  groups
• 43:36
  are
• 43:37
  very
• 43:37
  supportive.
• 43:38
  I
• 43:38
  rely
• 43:38
  on
• 43:39
  them
• 43:39
  heavily.
• 43:39
  And
• 43:39
  I,
• 43:40
  I
• 43:40
  want
• 43:40
  to
• 43:40
  say
• 43:40
  I've
• 43:41
  got
• 43:41
  a
• 43:41
  good,
• 43:42
  a
• 43:42
  good
• 43:42
  string
• 43:43
  of
• 43:43
  maybe
• 43:43
  half
• 43:43
  a
• 43:44
  dozen
• 43:44
  of
• 43:44
  them,
• 43:44
  depending
• 43:45
  on
• 43:45
  what
• 43:46
  the
• 43:46
  sport
• 43:46
  is
• 43:47
  or
• 43:47
  how
• 43:47
  we
• 43:47
  know
• 43:48
  each
• 43:48
  other
• 43:48
  and
• 43:49
  how
• 43:49
  long
• 43:49
  we've
• 43:49
  known
• 43:50
  each
• 43:50
  other.
• 43:50
  But
• 43:51
  no,
• 43:52
  always,
• 43:52
  always
• 43:53
  great
• 43:53
  recommendations
• 43:54
  and
• 43:55
  links
• 43:55
  to
• 43:56
  products
• 43:56
  in
• 43:57
  those
• 43:57
  feeds.
• 43:57
  I
• 43:57
  have
• 43:58
  always
• 43:58
  said
• 43:58
  if,
• 43:59
  if
• 43:59
  there
• 43:59
  was
• 43:59
  a
• 44:00
  retailer
• 44:00
  that
• 44:00
  could
• 44:00
  tap
• 44:01
  into
• 44:01
  these
• 44:01
  mom
• 44:02
  text
• 44:02
  threads,
• 44:03
  you
• 44:03
  would
• 44:03
  be
• 44:03
  billionaires,
• 44:04
  because
• 44:05
  those
• 44:05
  products
• 44:05
  go
• 44:06
  viral
• 44:06
  in,
• 44:06
  in
• 44:07
  a,
• 44:07
  in
• 44:07
  a
• 44:07
  matter
• 44:07
  of
• 44:07
  seconds
• 44:08
  after
• 44:08
  Every
• 44:08
  gathering,
• 44:09
  there's
• 44:09
  a
• 44:10
  list
• 44:10
  of
• 44:10
  several.
• 44:11
  Several
• 44:11
  products
• 44:12
  that,
• 44:12
  that
• 44:12
  people
• 44:13
  should
• 44:13
  take
• 44:13
  advantage
• 44:13
  of.
• 44:14
  So
• 44:15
  no,
• 44:15
  only
• 44:16
  good
• 44:16
  things,
• 44:17
  not
• 44:17
  bad.
• 44:17
  I
• 44:17
  would
• 44:18
  immediately
• 44:18
  cut
• 44:18
  those
• 44:19
  out.
• 44:19
  Chris,
• 44:20
  question
• 44:21
  number
• 44:21
  three.
• 44:22
  This
• 44:22
  also
• 44:22
  made
• 44:22
  me
• 44:23
  think
• 44:23
  of
• 44:23
  you.
• 44:23
  Lowe's
• 44:24
  home
• 44:24
  improvement
• 44:24
  stores
• 44:25
  and
• 44:25
  Cinemark
• 44:26
  theaters
• 44:26
  are
• 44:26
  doing
• 44:26
  a
• 44:27
  bring
• 44:27
  your
• 44:27
  own
• 44:27
  bucket
• 44:28
  popcorn
• 44:29
  promotion.
• 44:30
  And
• 44:30
  anyone
• 44:30
  who
• 44:31
  brings
• 44:31
  In
• 44:31
  a
• 44:32
  Lowe's
• 44:32
  5
• 44:32
  gallon
• 44:33
  bucket
• 44:33
  can
• 44:33
  fill
• 44:34
  it
• 44:34
  to
• 44:34
  the
• 44:34
  brim
• 44:34
  with
• 44:34
  popcorn
• 44:35
  for
• 44:36
  free.
• 44:36
  I
• 44:37
  have
• 44:37
  two.
• 44:37
  A
• 44:37
  two
• 44:38
  parter.
• 44:38
  One,
• 44:38
  would
• 44:39
  you
• 44:39
  partake
• 44:40
  in
• 44:40
  the
• 44:40
  Lowe's
• 44:40
  five
• 44:41
  gallon
• 44:41
  bucket
• 44:41
  of
• 44:41
  popcorn
• 44:42
  party?
• 44:43
  And
• 44:43
  two,
• 44:44
  butter,
• 44:45
  salt
• 44:45
  or
• 44:45
  naked
• 44:46
  popcorn.
• 44:46
  Where
• 44:47
  do
• 44:47
  you
• 44:47
  go?
• 44:48
  How
• 44:49
  big?
• 44:49
  First
• 44:49
  of
• 44:49
  all,
• 44:49
  how
• 44:49
  big
• 44:50
  is
• 44:50
  a
• 44:50
  five
• 44:50
  gallon
• 44:51
  bucket?
• 44:51
  That
• 44:51
  sounds
• 44:52
  enormous.
• 44:53
  It's
• 44:53
  like
• 44:53
  a
• 44:54
  utility
• 44:54
  bucket,
• 44:54
  you
• 44:55
  know,
• 44:55
  that
• 44:55
  you,
• 44:55
  like,
• 44:55
  sit
• 44:55
  on
• 44:56
  and
• 44:56
  I
• 44:57
  mean,
• 44:57
  it's
• 44:57
  big.
• 44:57
  It's
• 44:57
  big,
• 44:58
  right?
• 44:58
  Yeah,
• 44:59
  right.
• 44:59
  That
• 44:59
  you
• 44:59
  put
• 44:59
  like
• 45:00
  spackling
• 45:00
  in
• 45:00
  or
• 45:01
  something,
• 45:01
  you
• 45:01
  know,
• 45:01
  like,
• 45:01
  that's
• 45:02
  kind
• 45:02
  of
• 45:02
  what
• 45:02
  I'm.
• 45:02
  That's
• 45:02
  kind
• 45:03
  of
• 45:03
  what
• 45:03
  I'm
• 45:03
  envisioning
• 45:03
  here.
• 45:03
  But
• 45:04
  so
• 45:04
  to
• 45:04
  answer
• 45:04
  your
• 45:04
  question,
• 45:05
  hell
• 45:05
  yes,
• 45:06
  I
• 45:06
  would
• 45:06
  bring
• 45:06
  in
• 45:06
  a
• 45:06
  five
• 45:07
  gallon
• 45:07
  bucket
• 45:07
  ant.
• 45:08
  And
• 45:08
  to
• 45:09
  go
• 45:09
  even
• 45:09
  further,
• 45:10
  butter,
• 45:10
  100%,
• 45:11
  multiple
• 45:11
  layers.
• 45:12
  You
• 45:12
  got
• 45:12
  to
• 45:12
  put
• 45:12
  the
• 45:13
  butter
• 45:13
  in
• 45:13
  as
• 45:13
  you're
• 45:14
  putting
• 45:14
  the
• 45:14
  popcorn
• 45:14
  in
• 45:15
  so
• 45:15
  that
• 45:15
  it
• 45:15
  gets
• 45:15
  a
• 45:15
  nice
• 45:16
  even
• 45:16
  distribution.
• 45:17
  And
• 45:17
  I
• 45:18
  would
• 45:18
  put
• 45:18
  enough
• 45:18
  salt
• 45:19
  on
• 45:19
  that
• 45:19
  five
• 45:19
  gallon
• 45:20
  bucket
• 45:20
  to
• 45:20
  cause
• 45:21
  me
• 45:21
  immediate
• 45:21
  hypertension.
• 45:22
  And
• 45:22
  that's
• 45:23
  how
• 45:23
  I
• 45:23
  would
• 45:23
  answer
• 45:23
  that
• 45:23
  question.
• 45:24
  Immediate
• 45:24
  hypertension
• 45:25
  is
• 45:26
  a
• 45:26
  requirement.
• 45:26
  Any
• 45:27
  time
• 45:27
  I
• 45:27
  eat
• 45:27
  popcorn.
• 45:28
  I
• 45:28
  love
• 45:28
  my
• 45:28
  salt.
• 45:28
  I
• 45:29
  love
• 45:29
  it.
• 45:29
  All
• 45:30
  right,
• 45:30
  this
• 45:30
  one
• 45:30
  is
• 45:30
  nuts.
• 45:31
  And
• 45:32
  I
• 45:32
  was
• 45:32
  hoping
• 45:32
  that
• 45:33
  we
• 45:33
  get
• 45:33
  word
• 45:33
  of
• 45:33
  this
• 45:33
  by
• 45:34
  the
• 45:34
  time
• 45:34
  we
• 45:34
  recorded,
• 45:35
  but
• 45:35
  we
• 45:35
  haven't
• 45:35
  yet.
• 45:36
  There
• 45:36
  are
• 45:36
  reports
• 45:37
  and
• 45:38
  have
• 45:38
  you
• 45:38
  been
• 45:38
  seeing
• 45:38
  this?
• 45:39
  There
• 45:39
  are
• 45:39
  reports
• 45:39
  of
• 45:39
  a
• 45:40
  new
• 45:40
  Stranger
• 45:41
  Things
• 45:41
  episode
• 45:42
  to
• 45:42
  be
• 45:42
  released
• 45:43
  today,
• 45:44
  AKA
• 45:44
  the
• 45:44
  real
• 45:45
  finale.
• 45:46
  So
• 45:46
  how
• 45:46
  excited
• 45:47
  would
• 45:47
  you
• 45:47
  one
• 45:47
  be
• 45:48
  if
• 45:48
  this
• 45:48
  turns
• 45:48
  out
• 45:48
  to
• 45:48
  be
• 45:49
  true?
• 45:49
  And
• 45:49
  what
• 45:50
  grade
• 45:50
  would
• 45:50
  you
• 45:50
  give
• 45:51
  the
• 45:51
  actual
• 45:51
  finale,
• 45:53
  Previous
• 45:54
  finale,
• 45:54
  whatever
• 45:54
  you
• 45:54
  want
• 45:55
  to
• 45:55
  call
• 45:55
  it.
• 45:55
  I
• 45:55
  don't
• 45:55
  know
• 45:56
  that
• 45:56
  I
• 45:56
  want
• 45:56
  another
• 45:56
  finale.
• 45:57
  Oh,
• 45:57
  my
• 45:57
  God,
• 45:58
  are
• 45:58
  you
• 45:58
  kidding?
• 45:59
  I
• 45:59
  don't
• 45:59
  think
• 45:59
  I
• 45:59
  do.
• 46:00
  But
• 46:00
  I
• 46:01
  would
• 46:01
  obviously
• 46:01
  watch
• 46:02
  it.
• 46:02
  I
• 46:02
  would
• 46:03
  absolutely
• 46:03
  watch
• 46:03
  it.
• 46:04
  And
• 46:04
  you
• 46:04
  know
• 46:04
  what?
• 46:04
  I
• 46:04
  was
• 46:05
  at
• 46:05
  the
• 46:05
  our
• 46:06
  local
• 46:06
  grocery
• 46:06
  store
• 46:07
  last
• 46:07
  night,
• 46:07
  Chris,
• 46:07
  and
• 46:07
  they
• 46:08
  were
• 46:08
  setting
• 46:08
  out
• 46:08
  like
• 46:09
  Junior
• 46:09
  Mints
• 46:10
  dots
• 46:10
  and
• 46:10
  like
• 46:11
  Charleston
• 46:11
  Chew
• 46:12
  movie
• 46:12
  theater
• 46:12
  boxes.
• 46:13
  And
• 46:13
  I
• 46:13
  was
• 46:13
  like,
• 46:13
  maybe
• 46:14
  this
• 46:14
  is
• 46:14
  happening.
• 46:15
  Like,
• 46:15
  all
• 46:15
  of
• 46:15
  the
• 46:16
  grocery
• 46:16
  stores
• 46:16
  got
• 46:16
  the
• 46:16
  word
• 46:17
  before
• 46:17
  everybody
• 46:18
  else
• 46:18
  did.
• 46:18
  Could
• 46:19
  be
• 46:19
  Valentine's
• 46:19
  Day
• 46:19
  too.
• 46:20
  It
• 46:20
  could
• 46:21
  be.
• 46:21
  But
• 46:22
  I
• 46:23
  was
• 46:23
  really
• 46:23
  satisfied
• 46:23
  with
• 46:24
  the
• 46:24
  finale.
• 46:24
  I
• 46:24
  don't
• 46:24
  know.
• 46:25
  I,
• 46:25
  like,
• 46:25
  thought
• 46:25
  it.
• 46:26
  I
• 46:26
  thought
• 46:26
  it
• 46:26
  ended
• 46:27
  in
• 46:27
  a
• 46:27
  good
• 46:27
  way
• 46:27
  where,
• 46:28
  like,
• 46:28
  not
• 46:28
  everything
• 46:29
  was
• 46:29
  perfect,
• 46:30
  but,
• 46:30
  you
• 46:30
  know,
• 46:30
  the
• 46:31
  things
• 46:31
  that
• 46:31
  Needed
• 46:31
  to.
• 46:32
  The
• 46:32
  loose
• 46:32
  ends
• 46:32
  that
• 46:32
  needed
• 46:33
  to
• 46:33
  be
• 46:33
  tied
• 46:33
  up
• 46:33
  were.
• 46:34
  Were
• 46:34
  tied.
• 46:35
  So
• 46:35
  I'm.
• 46:36
  I'm
• 46:36
  good
• 46:36
  with
• 46:36
  how
• 46:36
  it
• 46:36
  ended,
• 46:37
  but
• 46:37
  clearly
• 46:37
  you
• 46:38
  are
• 46:38
  not.
• 46:38
  So
• 46:38
  what
• 46:39
  are
• 46:39
  you
• 46:39
  hoping
• 46:39
  for
• 46:39
  in
• 46:40
  this?
• 46:40
  This?
• 46:42
  Well,
• 46:42
  what
• 46:42
  I
• 46:42
  think
• 46:42
  would
• 46:43
  be
• 46:43
  the
• 46:43
  most
• 46:43
  baller
• 46:43
  move
• 46:44
  of
• 46:44
  anyone
• 46:44
  ever
• 46:45
  to
• 46:45
  do
• 46:45
  this.
• 46:46
  Like,
• 46:46
  I
• 46:46
  think
• 46:46
  it's
• 46:46
  such
• 46:47
  a
• 46:47
  coup
• 46:47
  from
• 46:47
  a
• 46:47
  marketing
• 46:48
  perspective
• 46:48
  if
• 46:48
  they
• 46:48
  actually
• 46:49
  do
• 46:49
  it.
• 46:49
  So
• 46:49
  it's
• 46:49
  a
• 46:50
  brilliant
• 46:50
  idea,
• 46:50
  whoever
• 46:51
  ultimately
• 46:51
  came
• 46:51
  up
• 46:51
  with
• 46:52
  it
• 46:52
  and
• 46:52
  if
• 46:52
  they
• 46:52
  execute
• 46:53
  on
• 46:53
  it.
• 46:53
  But
• 46:53
  no,
• 46:53
  I
• 46:54
  hated
• 46:54
  the
• 46:54
  finale.
• 46:54
  I
• 46:55
  thought
• 46:55
  the
• 46:55
  finale
• 46:55
  was
• 46:55
  like,
• 46:55
  kissing
• 46:56
  my
• 46:56
  sister.
• 46:56
  It
• 46:56
  was
• 46:57
  like,
• 46:57
  that's
• 46:58
  it.
• 46:58
  That's
• 46:58
  what
• 46:58
  we
• 46:58
  got
• 46:59
  here.
• 46:59
  This
• 46:59
  is
• 46:59
  great.
• 46:59
  Okay,
• 47:00
  fine.
• 47:00
  But
• 47:01
  I'm
• 47:01
  going
• 47:01
  to
• 47:01
  bring
• 47:01
  Ella
• 47:01
  in
• 47:01
  on
• 47:02
  this
• 47:02
  one.
• 47:02
  Ella?
• 47:03
  Ella?
• 47:03
  Have
• 47:03
  you
• 47:04
  seen
• 47:04
  Ella?
• 47:04
  Are
• 47:04
  you
• 47:04
  a
• 47:04
  big
• 47:05
  Stranger
• 47:05
  Things
• 47:05
  fan?
• 47:06
  Did
• 47:06
  you
• 47:06
  watch
• 47:06
  it?
• 47:06
  What
• 47:07
  is
• 47:07
  your
• 47:07
  take
• 47:07
  on
• 47:07
  the
• 47:07
  finale,
• 47:08
  and
• 47:08
  how
• 47:08
  much
• 47:08
  would
• 47:08
  you
• 47:08
  like
• 47:09
  to
• 47:09
  see
• 47:09
  this
• 47:09
  new
• 47:09
  episode?
• 47:10
  I
• 47:10
  would
• 47:10
  be
• 47:11
  incredibly
• 47:12
  excited
• 47:12
  if
• 47:12
  they
• 47:12
  dropped
• 47:13
  one.
• 47:14
  I
• 47:14
  think
• 47:14
  the
• 47:14
  Duffer
• 47:15
  Brothers
• 47:15
  are
• 47:15
  brilliant,
• 47:16
  so
• 47:16
  I
• 47:16
  honestly
• 47:17
  would
• 47:17
  not
• 47:17
  be
• 47:18
  surprised
• 47:19
  if
• 47:19
  they
• 47:19
  dropped
• 47:19
  one
• 47:19
  tonight.
• 47:20
  Were
• 47:20
  you
• 47:20
  happy
• 47:20
  with
• 47:21
  the
• 47:21
  previous
• 47:21
  finale?
• 47:22
  Where
• 47:22
  are
• 47:22
  you?
• 47:22
  Kind
• 47:23
  of
• 47:23
  left.
• 47:23
  Like,
• 47:23
  I
• 47:23
  was.
• 47:23
  We
• 47:24
  were
• 47:24
  like,
• 47:24
  yes,
• 47:25
  I
• 47:25
  see
• 47:25
  both.
• 47:25
  Your
• 47:26
  opinions,
• 47:26
  because
• 47:26
  I'm
• 47:27
  with
• 47:27
  Anne.
• 47:27
  I
• 47:27
  was.
• 47:28
  I
• 47:28
  was
• 47:28
  okay
• 47:28
  with
• 47:28
  it.
• 47:29
  Like,
• 47:29
  I
• 47:29
  was
• 47:29
  happy
• 47:30
  with.
• 47:30
  Everyone
• 47:30
  kind
• 47:31
  of
• 47:31
  got
• 47:31
  their
• 47:31
  happy
• 47:31
  ending.
• 47:32
  But
• 47:32
  to
• 47:33
  your
• 47:33
  point,
• 47:33
  Chris,
• 47:33
  like,
• 47:34
  so
• 47:34
  many
• 47:34
  different
• 47:34
  things
• 47:35
  could
• 47:35
  have
• 47:35
  happened,
• 47:36
  and
• 47:36
  it
• 47:36
  could
• 47:36
  have
• 47:36
  been
• 47:37
  so
• 47:37
  much
• 47:37
  better,
• 47:37
  too.
• 47:38
  I
• 47:38
  don't
• 47:38
  know.
• 47:39
  I
• 47:39
  don't
• 47:39
  know.
• 47:39
  Yeah,
• 47:39
  100%.
• 47:40
  100%.
• 47:41
  What
• 47:41
  did
• 47:41
  you
• 47:41
  guys
• 47:41
  want?
• 47:42
  Like,
• 47:42
  that's.
• 47:43
  I
• 47:43
  can't.
• 47:43
  I
• 47:43
  still
• 47:43
  don't
• 47:44
  understand.
• 47:44
  Like,
• 47:44
  what
• 47:44
  were
• 47:45
  the
• 47:45
  things
• 47:45
  that
• 47:45
  you
• 47:45
  felt
• 47:46
  like
• 47:46
  you
• 47:46
  wanted,
• 47:46
  like,
• 47:47
  way
• 47:47
  more.
• 47:48
  I
• 47:48
  didn't
• 47:48
  need
• 47:48
  the
• 47:49
  first
• 47:49
  of
• 47:49
  all.
• 47:49
  I
• 47:49
  didn't
• 47:49
  need
• 47:49
  the
• 47:50
  40
• 47:50
  minutes
• 47:50
  of,
• 47:50
  like,
• 47:51
  all
• 47:51
  the
• 47:51
  stuff
• 47:51
  that
• 47:52
  happens
• 47:52
  afterwards.
• 47:53
  I
• 47:53
  was
• 47:53
  like,
• 47:53
  okay,
• 47:53
  whatever.
• 47:54
  And
• 47:54
  then
• 47:54
  you
• 47:55
  didn't
• 47:55
  even
• 47:55
  tie
• 47:55
  up
• 47:55
  the
• 47:55
  loose
• 47:56
  ends.
• 47:56
  Like,
• 47:56
  the.
• 47:57
  All
• 47:57
  the
• 47:57
  dead
• 47:57
  army
• 47:58
  people
• 47:58
  at
• 47:58
  the
• 47:58
  base.
• 47:59
  The
• 47:59
  doctor.
• 48:00
  What
• 48:00
  is
• 48:00
  her
• 48:00
  name?
• 48:01
  Dr.
• 48:01
  K.
• 48:01
  You
• 48:01
  have
• 48:02
  no
• 48:02
  idea
• 48:02
  what
• 48:02
  happens
• 48:03
  to
• 48:03
  her
• 48:03
  or
• 48:03
  anything.
• 48:04
  Like,
• 48:05
  the
• 48:06
  whole
• 48:06
  thing
• 48:06
  didn't
• 48:06
  make.
• 48:07
  I
• 48:07
  didn't
• 48:07
  understand
• 48:07
  how
• 48:07
  Elle
• 48:08
  was
• 48:08
  using
• 48:08
  her
• 48:08
  powers,
• 48:08
  but
• 48:09
  Ella,
• 48:09
  I
• 48:09
  don't
• 48:09
  know.
• 48:09
  What
• 48:09
  do
• 48:09
  you
• 48:09
  think?
• 48:10
  Well,
• 48:10
  I
• 48:10
  also
• 48:10
  think.
• 48:11
  I
• 48:11
  think
• 48:11
  the
• 48:12
  ending
• 48:12
  of
• 48:12
  them
• 48:13
  ultimately
• 48:13
  killing
• 48:14
  Vecna,
• 48:15
  like,
• 48:15
  there's
• 48:16
  no
• 48:16
  way
• 48:16
  they
• 48:16
  would
• 48:16
  have
• 48:17
  killed
• 48:17
  Vecna
• 48:18
  that
• 48:18
  quickly
• 48:18
  with,
• 48:19
  like,
• 48:19
  a
• 48:19
  flamethrower
• 48:20
  and
• 48:21
  Will's
• 48:22
  powers
• 48:22
  and
• 48:22
  l.
• 48:23
  Like,
• 48:23
  there's
• 48:23
  no
• 48:23
  way
• 48:24
  they
• 48:24
  needed
• 48:24
  more.
• 48:24
  But
• 48:25
  Winona
• 48:25
  Ryder
• 48:26
  hacked
• 48:26
  his
• 48:26
  head
• 48:26
  off,
• 48:26
  you
• 48:27
  guys.
• 48:27
  I
• 48:27
  felt
• 48:27
  like
• 48:27
  they
• 48:28
  gave
• 48:28
  her
• 48:28
  redemption
• 48:29
  for,
• 48:29
  like,
• 48:29
  her
• 48:29
  entire
• 48:30
  life.
• 48:30
  Winona
• 48:31
  Ryder
• 48:31
  just
• 48:31
  got
• 48:31
  to
• 48:31
  go
• 48:32
  in
• 48:32
  and
• 48:32
  Hack
• 48:32
  the
• 48:32
  head
• 48:33
  off
• 48:33
  of
• 48:33
  Vecna.
• 48:33
  Spoiler
• 48:34
  alert
• 48:34
  for
• 48:34
  those
• 48:34
  of
• 48:35
  you.
• 48:35
  Yeah,
• 48:37
  but
• 48:37
  did
• 48:37
  she
• 48:37
  really
• 48:38
  kill
• 48:38
  him?
• 48:38
  That's
• 48:38
  the
• 48:38
  question
• 48:39
  that
• 48:39
  we're
• 48:39
  going
• 48:39
  to
• 48:39
  find
• 48:39
  out
• 48:40
  today.
• 48:40
  You
• 48:40
  know,
• 48:40
  like.
• 48:41
  Or,
• 48:41
  you
• 48:41
  know,
• 48:41
  it's
• 48:41
  the
• 48:41
  whole
• 48:42
  thing
• 48:42
  at
• 48:42
  Dream.
• 48:42
  I
• 48:42
  don't
• 48:42
  know.
• 48:43
  There's
• 48:43
  just
• 48:44
  so
• 48:44
  many
• 48:44
  plot
• 48:44
  holes
• 48:46
  in
• 48:46
  that
• 48:46
  episode,
• 48:47
  and
• 48:47
  I
• 48:47
  just.
• 48:48
  The
• 48:48
  whole
• 48:48
  thing
• 48:48
  at
• 48:48
  the
• 48:48
  end
• 48:49
  where
• 48:49
  they're,
• 48:49
  like,
• 48:49
  sitting
• 48:49
  around
• 48:50
  and
• 48:50
  they're,
• 48:50
  like,
• 48:51
  talking
• 48:51
  about
• 48:52
  how
• 48:52
  they're
• 48:52
  living
• 48:52
  in
• 48:52
  different
• 48:53
  places
• 48:53
  and
• 48:53
  going
• 48:54
  to
• 48:54
  college.
• 48:54
  I'm
• 48:54
  like,
• 48:54
  this
• 48:55
  is
• 48:55
  just
• 48:55
  weird.
• 48:56
  I
• 48:56
  did
• 48:56
  see
• 48:56
  this
• 48:57
  might
• 48:57
  be
• 48:57
  a
• 48:57
  big
• 48:57
  stretch,
• 48:58
  but
• 48:58
  when
• 48:59
  they
• 48:59
  put
• 48:59
  the
• 48:59
  binders
• 49:00
  back
• 49:00
  on
• 49:01
  the
• 49:01
  shelf.
• 49:01
  Yes.
• 49:02
  It
• 49:02
  had,
• 49:02
  like,
• 49:02
  Mike.
• 49:03
  It
• 49:03
  had
• 49:03
  all
• 49:03
  their
• 49:03
  names,
• 49:04
  it
• 49:04
  spelled
• 49:05
  out
• 49:05
  Act
• 49:05
  2,
• 49:05
  and
• 49:06
  then
• 49:06
  they
• 49:06
  put.
• 49:06
  The
• 49:06
  binders
• 49:06
  back
• 49:07
  and
• 49:07
  it
• 49:07
  says
• 49:07
  a.
• 49:07
  Lie,
• 49:08
  so
• 49:08
  we
• 49:08
  didn't
• 49:09
  see
• 49:09
  that
• 49:09
  one.
• 49:09
  It
• 49:09
  does.
• 49:10
  Yeah.
• 49:10
  No,
• 49:10
  there's.
• 49:10
  I'll
• 49:11
  send
• 49:11
  you
• 49:11
  some
• 49:11
  rabbit
• 49:11
  holes
• 49:11
  on
• 49:12
  this
• 49:12
  one,
• 49:12
  too,
• 49:12
  Ella.
• 49:12
  There's.
• 49:13
  There's.
• 49:14
  There's
• 49:14
  a
• 49:14
  lot
• 49:14
  of
• 49:14
  really
• 49:15
  good
• 49:15
  things
• 49:15
  that
• 49:15
  people
• 49:16
  spend
• 49:16
  a
• 49:16
  lot
• 49:16
  of
• 49:16
  time
• 49:17
  on
• 49:17
  this,
• 49:18
  so.
• 49:18
  And
• 49:18
  if
• 49:18
  the
• 49:18
  Duffer
• 49:19
  Brothers
• 49:19
  are
• 49:19
  that
• 49:20
  brilliant,
• 49:20
  like,
• 49:21
  holy
• 49:22
  cow,
• 49:22
  like,
• 49:22
  these
• 49:23
  guys
• 49:23
  are
• 49:23
  brilliant
• 49:23
  if
• 49:23
  they
• 49:24
  actually
• 49:24
  end
• 49:24
  up
• 49:24
  doing
• 49:24
  this,
• 49:24
  because
• 49:25
  those.
• 49:25
  I
• 49:25
  agree
• 49:25
  with
• 49:25
  you,
• 49:26
  Ella.
• 49:26
  They're.
• 49:26
  They're
• 49:27
  geniuses
• 49:27
  if
• 49:27
  they
• 49:27
  pull
• 49:27
  this
• 49:28
  off.
• 49:28
  But.
• 49:28
  All
• 49:28
  right,
• 49:28
  Ella,
• 49:29
  without
• 49:29
  further
• 49:29
  ado,
• 49:30
  what
• 49:30
  headline
• 49:30
  for
• 49:31
  you
• 49:31
  won
• 49:31
  today's
• 49:31
  show?
• 49:32
  We
• 49:32
  got
• 49:32
  off
• 49:32
  on
• 49:32
  a
• 49:32
  good
• 49:33
  sidetrack
• 49:33
  there.
• 49:34
  Yeah.
• 49:35
  Well,
• 49:35
  I'm
• 49:35
  actually
• 49:35
  picking
• 49:36
  Amazon
• 49:36
  integrating
• 49:37
  instant
• 49:37
  meal
• 49:38
  shopping
• 49:38
  into
• 49:38
  Alexa.
• 49:39
  Plus,
• 49:40
  I
• 49:40
  actually
• 49:41
  had
• 49:41
  a
• 49:41
  story
• 49:41
  over
• 49:41
  the
• 49:41
  holidays
• 49:42
  that
• 49:42
  my
• 49:42
  mom
• 49:43
  made,
• 49:44
  like,
• 49:44
  every
• 49:44
  single
• 49:45
  dish
• 49:45
  from
• 49:45
  ChatGPT,
• 49:46
  and
• 49:46
  she
• 49:46
  was
• 49:46
  so
• 49:47
  proud
• 49:47
  of
• 49:47
  it.
• 49:47
  She
• 49:47
  calls
• 49:47
  her
• 49:48
  chatgpt
• 49:49
  Chad.
• 49:49
  So
• 49:50
  she
• 49:50
  would
• 49:50
  be
• 49:50
  like,
• 49:50
  oh,
• 49:50
  where'd
• 49:51
  you
• 49:51
  get
• 49:51
  this?
• 49:51
  It's
• 49:52
  like,
• 49:52
  well,
• 49:52
  Chad
• 49:52
  made
• 49:52
  it.
• 49:53
  And,
• 49:54
  yeah,
• 49:55
  I
• 49:55
  don't
• 49:55
  know
• 49:55
  if
• 49:55
  it's
• 49:55
  something
• 49:55
  to
• 49:55
  be
• 49:56
  proud
• 49:56
  of
• 49:56
  or
• 49:56
  not,
• 49:57
  but
• 49:57
  big
• 49:58
  picture,
• 49:58
  people
• 49:59
  are
• 49:59
  wanting
• 49:59
  this
• 49:59
  streamlined
• 50:00
  process
• 50:00
  of
• 50:01
  making
• 50:01
  meals
• 50:01
  and
• 50:01
  knowing,
• 50:02
  like,
• 50:02
  when
• 50:02
  I
• 50:02
  should
• 50:03
  take
• 50:03
  it
• 50:03
  out
• 50:03
  of
• 50:03
  the
• 50:03
  oven,
• 50:03
  when
• 50:04
  I
• 50:04
  should
• 50:04
  put
• 50:04
  it
• 50:04
  in.
• 50:06
  So
• 50:06
  I
• 50:06
  think
• 50:06
  the
• 50:06
  added
• 50:07
  step
• 50:07
  of
• 50:07
  getting
• 50:07
  groceries,
• 50:08
  too,
• 50:08
  is
• 50:09
  amazing.
• 50:09
  My
• 50:09
  only
• 50:10
  thing
• 50:11
  is
• 50:11
  the
• 50:11
  user
• 50:11
  experience.
• 50:12
  Like,
• 50:12
  is
• 50:12
  it
• 50:12
  going
• 50:12
  to
• 50:13
  be
• 50:13
  a
• 50:13
  simple
• 50:13
  process
• 50:14
  for
• 50:14
  someone
• 50:14
  like
• 50:14
  my
• 50:15
  mom
• 50:15
  or
• 50:15
  my
• 50:15
  nana
• 50:16
  to
• 50:16
  dive
• 50:17
  in
• 50:17
  and
• 50:17
  be
• 50:17
  able
• 50:17
  to
• 50:17
  do
• 50:17
  it?
• 50:19
  That's
• 50:19
  my
• 50:20
  question.
• 50:20
  Yeah.
• 50:21
  Well,
• 50:21
  she
• 50:21
  seems
• 50:21
  to
• 50:22
  be
• 50:22
  doing
• 50:22
  it
• 50:22
  with
• 50:22
  Chad.
• 50:23
  Chad
• 50:23
  sound
• 50:24
  like
• 50:24
  they're
• 50:24
  getting
• 50:24
  along
• 50:24
  swimmingly.
• 50:25
  Wow,
• 50:26
  that's.
• 50:26
  That's
• 50:26
  amazing.
• 50:26
  Wow.
• 50:27
  Good.
• 50:27
  Good
• 50:27
  perspective
• 50:28
  again,
• 50:28
  as
• 50:28
  always.
• 50:29
  All
• 50:29
  right,
• 50:30
  well,
• 50:30
  that
• 50:30
  wraps
• 50:30
  us
• 50:30
  up.
• 50:31
  Happy
• 50:31
  birthday
• 50:31
  today
• 50:32
  to
• 50:32
  Jeremy
• 50:32
  Renner,
• 50:33
  David
• 50:33
  Caruso,
• 50:34
  and
• 50:34
  to
• 50:34
  the
• 50:35
  only
• 50:35
  man
• 50:35
  who
• 50:35
  can
• 50:35
  deliver
• 50:36
  the
• 50:36
  line
• 50:36
  for
• 50:37
  the
• 50:37
  love
• 50:37
  of
• 50:37
  Zeus's
• 50:38
  butthole,
• 50:38
  the
• 50:39
  incomparable
• 50:39
  Nicholas
• 50:40
  Cage.
• 50:40
  And
• 50:41
  remember,
• 50:41
  if
• 50:41
  you
• 50:41
  can
• 50:41
  only
• 50:41
  read
• 50:42
  or
• 50:42
  listen
• 50:42
  to
• 50:42
  one
• 50:42
  retail
• 50:43
  blog
• 50:43
  in
• 50:43
  the
• 50:43
  business,
• 50:43
  Make
• 50:44
  It
• 50:44
  Omnitok,
• 50:44
  the
• 50:44
  only
• 50:45
  retail
• 50:45
  media
• 50:45
  outlet
• 50:46
  run
• 50:46
  by
• 50:46
  two
• 50:46
  former
• 50:46
  executives
• 50:47
  from
• 50:47
  a
• 50:47
  current
• 50:47
  top
• 50:48
  10
• 50:48
  US
• 50:48
  retailer.
• 50:49
  Our
• 50:49
  Fastest
• 50:50
  Our
• 50:50
  Our
• 50:51
  Fast
• 50:51
  Five
• 50:52
  is
• 50:52
  the
• 50:52
  fastest
• 50:52
  breakdown,
• 50:53
  but
• 50:53
  it's
• 50:53
  also
• 50:54
  the
• 50:54
  Fast
• 50:54
  Five
• 50:54
  podcast
• 50:55
  is
• 50:55
  also
• 50:55
  the
• 50:55
  quickest,
• 50:56
  fastest
• 50:56
  rundown
• 50:56
  of
• 50:56
  all
• 50:57
  the
• 50:57
  week's
• 50:57
  top
• 50:57
  news
• 50:57
  and
• 50:58
  our
• 50:58
  daily
• 50:58
  newsletter,
• 50:58
  the
• 50:58
  Retail
• 50:59
  Daily
• 50:59
  Minute,
• 50:59
  tells
• 51:00
  you
• 51:00
  all
• 51:00
  you
• 51:00
  need
• 51:00
  to
• 51:00
  know
• 51:00
  each
• 51:01
  day
• 51:01
  to
• 51:01
  stay
• 51:01
  on
• 51:02
  top
• 51:02
  of
• 51:02
  your
• 51:02
  game
• 51:02
  as
• 51:02
  a
• 51:02
  retail
• 51:03
  executive
• 51:03
  and
• 51:03
  also
• 51:03
  regularly
• 51:04
  feature
• 51:04
  special
• 51:04
  content
• 51:05
  that
• 51:05
  is
• 51:05
  exclusive
• 51:05
  to
• 51:05
  us
• 51:06
  and
• 51:06
  that
• 51:06
  Ann
• 51:06
  and
• 51:07
  I
• 51:07
  take
• 51:07
  a
• 51:07
  lot
• 51:07
  of
• 51:07
  pride
• 51:07
  in
• 51:07
  doing
• 51:08
  just
• 51:08
  for
• 51:08
  you.
• 51:09
  Thanks
• 51:09
  as
• 51:09
  always
• 51:09
  for
• 51:09
  listening
• 51:10
  in.
• 51:10
  Please
• 51:10
  remember
• 51:10
  to
• 51:10
  like
• 51:10
  and
• 51:11
  leave
• 51:11
  us
• 51:11
  a
• 51:11
  review
• 51:11
  wherever
• 51:12
  you
• 51:12
  happen
• 51:12
  to
• 51:12
  listen
• 51:12
  to
• 51:13
  your
• 51:13
  podcast
• 51:13
  or
• 51:13
  on
• 51:13
  YouTube.
• 51:14
  You
• 51:14
  can
• 51:14
  follow
• 51:14
  us
• 51:14
  today
• 51:14
  by
• 51:14
  simply
• 51:15
  going
• 51:15
  to
• 51:15
  YouTube.com
• 51:17
  omnitalkretail
• 51:18
  so
• 51:18
  until
• 51:18
  next
• 51:18
  week,
• 51:19
  and
• 51:19
  on
• 51:19
  behalf
• 51:20
  of
• 51:20
  all
• 51:20
  of
• 51:20
  us
• 51:20
  at
• 51:20
  Omnitalk
• 51:21
  Retail,
• 51:21
  we'll
• 51:22
  see
• 51:22
  you
• 51:22
  out
• 51:22
  in
• 51:22
  New
• 51:22
  York
• 51:22
  City
• 51:23
  at
• 51:23
  nrf.
• 51:24
  As
• 51:24
  always,
• 51:25
  be
• 51:25
  careful
• 51:25
  out
• 51:25
  there.