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Transcript

The Shoptalk Spring 2026 Key Takeaways Podcast · Omni Talk Retail

• 0:00
  All
• 0:00
  right.
• 0:00
  Hello,
• 0:01
  everyone.
• 0:02
  Welcome
• 0:02
  to
• 0:02
  your
• 0:03
  shop
• 0:03
  talk
• 0:03
  spring
• 0:04
  2026
• 0:05
  takeaways
• 0:05
  session.
• 0:06
  I'm
• 0:06
  Chris
• 0:07
  Walton.
• 0:07
  I'm
• 0:07
  the
• 0:07
  CEO
• 0:08
  and
• 0:08
  president
• 0:08
  of
• 0:08
  the
• 0:08
  Omnitalk
• 0:09
  Retail
• 0:09
  Podcast
• 0:10
  Network,
• 0:10
  which
• 0:10
  is
• 0:10
  the
• 0:11
  network
• 0:11
  that
• 0:11
  we
• 0:11
  hope
• 0:11
  makes
• 0:11
  you
• 0:12
  feel
• 0:12
  a
• 0:12
  little
• 0:12
  smarter
• 0:12
  about
• 0:12
  retail
• 0:13
  every
• 0:13
  week
• 0:14
  and
• 0:14
  also
• 0:14
  a
• 0:14
  little
• 0:14
  happier
• 0:15
  if
• 0:15
  we
• 0:15
  do
• 0:15
  our
• 0:15
  jobs
• 0:15
  right,
• 0:16
  too.
• 0:16
  And
• 0:16
  you
• 0:17
  all
• 0:17
  in
• 0:17
  the
• 0:17
  audience,
• 0:17
  in
• 0:18
  addition
• 0:18
  to
• 0:18
  the
• 0:19
  three
• 0:19
  panelists
• 0:19
  next
• 0:19
  to
• 0:20
  me,
• 0:20
  are
• 0:20
  about
• 0:20
  to
• 0:20
  be
• 0:21
  part
• 0:21
  of
• 0:21
  an
• 0:21
  actual
• 0:22
  live
• 0:22
  podcast.
• 0:23
  So
• 0:23
  everything
• 0:24
  you
• 0:24
  see
• 0:24
  and
• 0:24
  hear
• 0:25
  on
• 0:25
  stage
• 0:26
  over
• 0:26
  the
• 0:26
  next
• 0:26
  40
• 0:26
  minutes
• 0:27
  is
• 0:27
  going
• 0:28
  to
• 0:28
  be
• 0:28
  available
• 0:28
  via
• 0:29
  the
• 0:29
  Omnitalk
• 0:29
  Retail
• 0:30
  Podcast
• 0:30
  network,
• 0:31
  which
• 0:31
  you'll
• 0:31
  be
• 0:31
  able
• 0:31
  to
• 0:32
  access
• 0:32
  at
• 0:32
  any
• 0:32
  time
• 0:33
  following
• 0:33
  the
• 0:33
  conference,
• 0:34
  wherever
• 0:35
  you
• 0:35
  get
• 0:35
  your
• 0:35
  podcast.
• 0:36
  So
• 0:37
  joining
• 0:37
  me
• 0:38
  is
• 0:38
  Ben
• 0:38
  Miller.
• 0:39
  Ben
• 0:40
  is
• 0:40
  the
• 0:40
  VP
• 0:41
  of
• 0:41
  original
• 0:41
  content
• 0:41
  at
• 0:42
  Shop
• 0:42
  Talk.
• 0:42
  Ben,
• 0:43
  welcome.
• 0:43
  Let's
• 0:43
  give
• 0:44
  him
• 0:44
  a
• 0:44
  round
• 0:44
  of
• 0:44
  applause.
• 0:44
  Let's
• 0:45
  get
• 0:45
  the
• 0:45
  live
• 0:45
  audience
• 0:45
  participation
• 0:46
  happening.
• 0:48
  All
• 0:48
  right,
• 0:48
  Ben,
• 0:48
  how
• 0:48
  you
• 0:49
  doing?
• 0:49
  Your
• 0:49
  full
• 0:49
  week
• 0:50
  in
• 0:50
  Vegas.
• 0:51
  Ready
• 0:51
  for
• 0:51
  this?
• 0:52
  Yeah.
• 0:52
  Really
• 0:52
  good.
• 0:52
  Let's
• 0:53
  bring
• 0:53
  it
• 0:53
  home.
• 0:53
  All
• 0:53
  right.
• 0:54
  And
• 0:54
  we've
• 0:54
  got
• 0:54
  Sarah
• 0:55
  Engel.
• 0:55
  Sarah
• 0:56
  is
• 0:56
  the
• 0:56
  president
• 0:56
  of
• 0:57
  January
• 0:57
  Digital.
• 0:58
  Sarah,
• 0:58
  welcome.
• 0:59
  Thank
• 0:59
  you.
• 1:00
  This
• 1:00
  is
• 1:00
  the
• 1:01
  last
• 1:01
  of
• 1:01
  my
• 1:01
  voice,
• 1:01
  guys.
• 1:02
  This
• 1:02
  is
• 1:02
  it.
• 1:02
  I
• 1:02
  know.
• 1:02
  How
• 1:03
  many
• 1:03
  times
• 1:03
  have
• 1:03
  you
• 1:03
  been
• 1:03
  on
• 1:04
  stage?
• 1:04
  I
• 1:04
  was
• 1:04
  trying
• 1:04
  to
• 1:04
  do
• 1:04
  the
• 1:05
  math
• 1:05
  last
• 1:05
  night.
• 1:06
  Four
• 1:06
  times.
• 1:07
  Yeah.
• 1:07
  That's
• 1:07
  a
• 1:07
  lot.
• 1:08
  That's
• 1:08
  a
• 1:08
  lot.
• 1:08
  And
• 1:09
  last
• 1:09
  but
• 1:09
  not
• 1:09
  least,
• 1:09
  of
• 1:10
  course,
• 1:10
  we
• 1:10
  have
• 1:10
  the
• 1:10
  man
• 1:11
  primarily
• 1:11
  responsible
• 1:12
  for
• 1:12
  all
• 1:12
  the
• 1:12
  great
• 1:13
  content
• 1:13
  we
• 1:13
  took
• 1:13
  in
• 1:14
  all
• 1:14
  week,
• 1:14
  Joe
• 1:15
  Laszlo,
• 1:15
  the
• 1:16
  head
• 1:16
  of
• 1:16
  content
• 1:16
  and
• 1:16
  insights
• 1:17
  for
• 1:17
  Shop
• 1:17
  Talk
• 1:17
  us.
• 1:18
  Joe,
• 1:18
  welcome.
• 1:19
  Always
• 1:19
  a
• 1:20
  pleasure
• 1:20
  to
• 1:20
  be
• 1:20
  on
• 1:20
  stage
• 1:20
  with
• 1:20
  you,
• 1:21
  Chris.
• 1:21
  Thank
• 1:21
  you,
• 1:22
  man.
• 1:22
  All
• 1:22
  right,
• 1:22
  so
• 1:23
  here's
• 1:23
  what
• 1:23
  we're
• 1:23
  going
• 1:23
  to
• 1:23
  do
• 1:23
  for
• 1:24
  the
• 1:24
  next
• 1:24
  40
• 1:24
  minutes,
• 1:25
  everyone.
• 1:25
  I've
• 1:26
  selected
• 1:26
  eight
• 1:26
  topics,
• 1:27
  and
• 1:28
  I'm
• 1:28
  going
• 1:28
  to
• 1:28
  allot
• 1:29
  no
• 1:29
  more
• 1:29
  than
• 1:29
  four
• 1:30
  minutes
• 1:30
  each,
• 1:30
  give
• 1:30
  or
• 1:31
  take.
• 1:31
  Depending
• 1:31
  on
• 1:31
  how
• 1:31
  long,
• 1:32
  you
• 1:32
  know,
• 1:32
  people
• 1:32
  want
• 1:32
  to
• 1:32
  talk,
• 1:32
  I
• 1:33
  might
• 1:33
  let
• 1:33
  them
• 1:33
  go
• 1:33
  a
• 1:33
  little
• 1:33
  bit
• 1:33
  long.
• 1:34
  Might
• 1:34
  cut
• 1:34
  them
• 1:34
  off
• 1:34
  a
• 1:34
  little
• 1:34
  bit
• 1:34
  short,
• 1:35
  even.
• 1:35
  We'll
• 1:35
  see.
• 1:35
  But
• 1:36
  we're
• 1:36
  going
• 1:36
  to
• 1:36
  allow
• 1:36
  allot
• 1:37
  four
• 1:37
  minutes
• 1:37
  each
• 1:38
  of
• 1:38
  them,
• 1:38
  and
• 1:39
  we're
• 1:39
  going
• 1:39
  to
• 1:39
  try
• 1:39
  to
• 1:39
  keep
• 1:39
  the
• 1:39
  conversation
• 1:40
  moving.
• 1:41
  So
• 1:41
  let's
• 1:41
  get
• 1:42
  right
• 1:42
  to
• 1:42
  the
• 1:42
  first
• 1:42
  question.
• 1:43
  It's
• 1:43
  a
• 1:43
  question
• 1:43
  I've
• 1:43
  asked
• 1:44
  on
• 1:44
  this
• 1:44
  stage
• 1:44
  before
• 1:45
  in
• 1:45
  closing
• 1:46
  of
• 1:46
  shows.
• 1:46
  So
• 1:46
  I'm
• 1:46
  going
• 1:47
  to
• 1:47
  ask
• 1:47
  it
• 1:47
  one
• 1:47
  more
• 1:47
  time.
• 1:48
  AI.
• 1:49
  Sarah,
• 1:50
  you're
• 1:50
  going
• 1:50
  to
• 1:50
  start
• 1:50
  us
• 1:50
  off.
• 1:50
  AI.
• 1:51
  We
• 1:51
  got
• 1:51
  to
• 1:51
  ask
• 1:51
  AI.
• 1:53
  AI.
• 1:54
  Overhyped,
• 1:55
  underhyped,
• 1:56
  or
• 1:56
  properly
• 1:57
  hyped?
• 1:58
  I
• 1:58
  think
• 1:59
  I'm
• 1:59
  going
• 1:59
  to
• 2:00
  say
• 2:00
  both.
• 2:00
  I'm
• 2:00
  not
• 2:00
  going
• 2:01
  to
• 2:01
  start
• 2:01
  strong.
• 2:01
  I'm
• 2:01
  going
• 2:01
  to
• 2:01
  say
• 2:01
  both.
• 2:01
  You're
• 2:02
  going
• 2:02
  to
• 2:02
  say
• 2:02
  both?
• 2:03
  I
• 2:03
  will.
• 2:04
  I
• 2:04
  Will
• 2:04
  wait.
• 2:04
  You
• 2:05
  wait.
• 2:05
  I
• 2:05
  don't
• 2:05
  know
• 2:05
  if
• 2:05
  I'm
• 2:05
  going
• 2:05
  to
• 2:05
  allow
• 2:06
  that.
• 2:06
  It
• 2:06
  is
• 2:06
  overhyped
• 2:07
  in
• 2:07
  terms
• 2:07
  of
• 2:08
  people's
• 2:08
  fears
• 2:09
  and
• 2:09
  insecurities.
• 2:10
  And
• 2:11
  I
• 2:11
  think
• 2:11
  the
• 2:12
  worries
• 2:12
  that
• 2:12
  are
• 2:12
  happening
• 2:13
  right
• 2:13
  now,
• 2:14
  I
• 2:14
  think
• 2:14
  it
• 2:14
  is
• 2:14
  probably
• 2:15
  underhyped
• 2:15
  in
• 2:16
  terms
• 2:16
  of
• 2:16
  how
• 2:16
  much
• 2:16
  it
• 2:16
  will
• 2:17
  impact
• 2:18
  the
• 2:18
  industry,
• 2:18
  how
• 2:18
  fast
• 2:19
  that
• 2:19
  will
• 2:19
  change,
• 2:20
  what,
• 2:20
  what
• 2:21
  we
• 2:21
  were
• 2:21
  actually
• 2:21
  going
• 2:21
  to
• 2:21
  be
• 2:22
  capable
• 2:22
  of
• 2:22
  in
• 2:23
  the
• 2:23
  future
• 2:23
  if
• 2:24
  we
• 2:24
  continue
• 2:24
  to
• 2:24
  like
• 2:25
  reskill
• 2:25
  and
• 2:25
  upskill
• 2:26
  and
• 2:26
  all
• 2:26
  keep
• 2:27
  like
• 2:27
  learning
• 2:27
  and
• 2:27
  keeping
• 2:27
  up
• 2:28
  with
• 2:28
  it.
• 2:28
  But
• 2:29
  I
• 2:29
  think
• 2:29
  the
• 2:29
  fear,
• 2:29
  I
• 2:29
  mean,
• 2:30
  gosh,
• 2:30
  this
• 2:30
  week
• 2:30
  I've
• 2:30
  had
• 2:30
  so
• 2:30
  many
• 2:31
  fear
• 2:31
  based
• 2:31
  conversations
• 2:32
  with
• 2:32
  folks
• 2:32
  and
• 2:32
  I'm
• 2:32
  like,
• 2:33
  you
• 2:33
  know,
• 2:33
  gosh,
• 2:33
  everybody
• 2:34
  feels
• 2:34
  behind.
• 2:34
  You're
• 2:34
  fine.
• 2:35
  Like,
• 2:35
  let's
• 2:35
  just.
• 2:36
  We're
• 2:36
  all
• 2:36
  in
• 2:36
  this
• 2:36
  together.
• 2:37
  Let's
• 2:37
  just
• 2:37
  have
• 2:37
  a
• 2:37
  conversation.
• 2:38
  So
• 2:38
  in
• 2:38
  that
• 2:38
  way,
• 2:39
  I
• 2:39
  hope
• 2:39
  people
• 2:39
  understand
• 2:40
  that
• 2:40
  part
• 2:40
  is
• 2:40
  a
• 2:40
  little
• 2:40
  overhyped.
• 2:41
  You're
• 2:41
  going
• 2:42
  to
• 2:42
  be
• 2:42
  fine.
• 2:42
  Your
• 2:42
  teams
• 2:42
  are
• 2:42
  going
• 2:43
  to
• 2:43
  be
• 2:43
  fine.
• 2:43
  Just
• 2:43
  keep
• 2:43
  pushing.
• 2:44
  So
• 2:44
  if
• 2:44
  I
• 2:44
  take
• 2:44
  the
• 2:45
  average
• 2:45
  then
• 2:45
  properly.
• 2:46
  Yeah,
• 2:46
  properly.
• 2:47
  I
• 2:47
  mean,
• 2:47
  it's
• 2:47
  hyped.
• 2:48
  I
• 2:48
  think
• 2:48
  that
• 2:48
  would
• 2:49
  be
• 2:49
  my
• 2:49
  answer
• 2:49
  is,
• 2:50
  is
• 2:50
  that
• 2:50
  like
• 2:50
  this
• 2:50
  Shop
• 2:51
  talk,
• 2:51
  It
• 2:51
  feels
• 2:51
  like
• 2:51
  we're
• 2:52
  at
• 2:52
  the
• 2:52
  right
• 2:52
  amount
• 2:53
  of
• 2:53
  AI
• 2:53
  hype.
• 2:53
  I
• 2:54
  heard
• 2:54
  less
• 2:54
  on
• 2:55
  our
• 2:55
  stages,
• 2:55
  partly
• 2:55
  partly
• 2:56
  by
• 2:56
  design
• 2:56
  and
• 2:56
  partly
• 2:57
  because
• 2:57
  we're
• 2:57
  at
• 2:57
  this
• 2:57
  stage
• 2:58
  in
• 2:58
  the
• 2:59
  evolution
• 2:59
  of
• 2:59
  the
• 2:59
  technology,
• 3:00
  less
• 3:00
  on
• 3:00
  our
• 3:00
  stage
• 3:01
  about
• 3:01
  like,
• 3:01
  we're
• 3:01
  going
• 3:01
  to
• 3:01
  do
• 3:02
  this
• 3:02
  in
• 3:02
  five
• 3:02
  years
• 3:02
  and
• 3:03
  more.
• 3:03
  We
• 3:03
  are
• 3:03
  already
• 3:03
  doing
• 3:04
  this
• 3:04
  today
• 3:04
  and
• 3:04
  learning
• 3:05
  from
• 3:05
  it.
• 3:05
  I
• 3:05
  think
• 3:05
  that's
• 3:05
  a
• 3:06
  sign
• 3:06
  that
• 3:06
  we've
• 3:06
  kind
• 3:06
  of
• 3:06
  gotten
• 3:06
  beyond
• 3:07
  just
• 3:07
  kind
• 3:08
  of
• 3:08
  the,
• 3:08
  the
• 3:08
  theoretical
• 3:09
  potential
• 3:09
  of
• 3:10
  AI
• 3:10
  and
• 3:10
  towards
• 3:11
  the
• 3:11
  actual
• 3:11
  working
• 3:12
  reality
• 3:12
  of
• 3:12
  it.
• 3:12
  Who
• 3:12
  hopefully.
• 3:13
  Okay,
• 3:13
  okay,
• 3:14
  I
• 3:14
  think
• 3:14
  I
• 3:14
  can
• 3:14
  get.
• 3:14
  I
• 3:14
  think
• 3:15
  I
• 3:15
  can
• 3:15
  with
• 3:16
  that.
• 3:16
  Ben,
• 3:16
  you
• 3:17
  gonna
• 3:17
  agree
• 3:17
  here
• 3:17
  with
• 3:17
  those
• 3:18
  two
• 3:18
  or
• 3:18
  are
• 3:18
  you
• 3:18
  gonna
• 3:18
  come
• 3:18
  at
• 3:18
  it
• 3:19
  from
• 3:19
  a
• 3:19
  different
• 3:19
  angle?
• 3:20
  I
• 3:20
  think
• 3:20
  one
• 3:20
  of
• 3:20
  the
• 3:21
  things
• 3:21
  we
• 3:21
  were
• 3:21
  very
• 3:21
  cognizant
• 3:22
  of
• 3:22
  coming
• 3:23
  into
• 3:23
  this
• 3:23
  show
• 3:24
  is
• 3:24
  the
• 3:24
  classic
• 3:24
  Gartner
• 3:25
  hype
• 3:25
  cycle.
• 3:26
  Yeah.
• 3:26
  And
• 3:27
  the
• 3:27
  last
• 3:27
  thing
• 3:27
  we
• 3:27
  wanted
• 3:28
  to
• 3:28
  do
• 3:28
  was
• 3:28
  to
• 3:28
  try
• 3:29
  and
• 3:29
  create
• 3:29
  something
• 3:29
  that
• 3:30
  just
• 3:30
  drove
• 3:30
  hype.
• 3:32
  At
• 3:32
  the
• 3:32
  same
• 3:33
  time,
• 3:33
  we
• 3:33
  were
• 3:33
  very
• 3:33
  mindful
• 3:34
  that
• 3:34
  whenever
• 3:34
  we
• 3:35
  spoke
• 3:35
  to
• 3:35
  people
• 3:35
  about
• 3:35
  what
• 3:35
  did
• 3:36
  you
• 3:36
  want
• 3:36
  to
• 3:36
  talk
• 3:36
  about
• 3:36
  at
• 3:37
  Shop
• 3:37
  Talk,
• 3:37
  people
• 3:37
  would
• 3:37
  tell
• 3:37
  us,
• 3:38
  AI,
• 3:38
  so
• 3:39
  how
• 3:39
  do
• 3:39
  you
• 3:39
  bounce?
• 3:40
  So
• 3:40
  I
• 3:40
  guess
• 3:40
  it's
• 3:41
  more
• 3:41
  kind
• 3:41
  of
• 3:41
  a
• 3:41
  question
• 3:41
  for
• 3:41
  the
• 3:42
  audience
• 3:42
  and
• 3:42
  everyone
• 3:42
  listening.
• 3:43
  What
• 3:43
  we
• 3:43
  try
• 3:43
  to
• 3:44
  do
• 3:44
  is
• 3:44
  get
• 3:44
  that
• 3:45
  proper
• 3:45
  hype,
• 3:46
  as
• 3:46
  in
• 3:47
  reflect
• 3:47
  that
• 3:47
  there
• 3:47
  is
• 3:48
  some
• 3:48
  really
• 3:48
  important
• 3:48
  happening.
• 3:49
  But
• 3:50
  try,
• 3:50
  as
• 3:50
  Joe
• 3:50
  was
• 3:51
  saying,
• 3:51
  to
• 3:51
  talk
• 3:51
  about
• 3:51
  it
• 3:51
  from
• 3:52
  the
• 3:52
  practical,
• 3:53
  what
• 3:53
  does
• 3:53
  it
• 3:53
  mean?
• 3:53
  And
• 3:54
  it's
• 3:54
  been
• 3:54
  really
• 3:54
  refreshing
• 3:55
  to
• 3:55
  hear
• 3:55
  people
• 3:55
  on
• 3:55
  stage
• 3:56
  talk
• 3:56
  about
• 3:57
  this
• 3:58
  trial
• 3:58
  that
• 3:58
  we're
• 3:58
  running
• 3:59
  this
• 3:59
  initiative
• 4:00
  that
• 4:00
  we're
• 4:00
  getting
• 4:00
  away
• 4:00
  this
• 4:01
  thing
• 4:01
  that
• 4:01
  we're
• 4:01
  doing
• 4:01
  rather
• 4:02
  than
• 4:03
  this
• 4:03
  belief
• 4:03
  that
• 4:04
  we
• 4:04
  have
• 4:04
  about
• 4:04
  what
• 4:05
  might
• 4:05
  happen.
• 4:06
  And
• 4:06
  I
• 4:06
  think
• 4:06
  that's
• 4:06
  created
• 4:07
  a
• 4:07
  really
• 4:07
  refreshing
• 4:08
  and
• 4:08
  properly
• 4:09
  hyped
• 4:09
  conversation.
• 4:10
  The
• 4:10
  other
• 4:11
  thing
• 4:11
  that
• 4:11
  we
• 4:11
  thought
• 4:12
  about
• 4:12
  a
• 4:12
  lot,
• 4:14
  I
• 4:14
  guess
• 4:15
  at
• 4:15
  times,
• 4:15
  I
• 4:16
  was
• 4:16
  going
• 4:16
  to
• 4:16
  say
• 4:16
  events
• 4:16
  in
• 4:16
  general,
• 4:17
  but
• 4:17
  let's
• 4:17
  be,
• 4:17
  let's
• 4:17
  be
• 4:18
  honest.
• 4:18
  At
• 4:18
  Shop
• 4:18
  Talk,
• 4:19
  there's
• 4:19
  times
• 4:19
  when
• 4:20
  we're
• 4:20
  saying
• 4:21
  this
• 4:21
  is
• 4:21
  what's
• 4:21
  going
• 4:21
  to
• 4:21
  happen.
• 4:22
  And
• 4:23
  you
• 4:23
  have
• 4:23
  people
• 4:23
  on
• 4:23
  stage,
• 4:24
  you're
• 4:24
  very
• 4:24
  confident
• 4:25
  in
• 4:25
  saying
• 4:25
  this
• 4:25
  is
• 4:25
  what's
• 4:26
  going
• 4:26
  to
• 4:26
  happen.
• 4:26
  And
• 4:27
  anybody
• 4:27
  that
• 4:27
  isn't
• 4:28
  on
• 4:28
  board
• 4:28
  of
• 4:28
  doing
• 4:28
  it
• 4:28
  is
• 4:29
  basically
• 4:29
  an
• 4:29
  idiot.
• 4:30
  And
• 4:31
  we
• 4:31
  wanted
• 4:31
  to
• 4:32
  reflect
• 4:32
  what
• 4:32
  we're
• 4:32
  hearing,
• 4:33
  that
• 4:34
  we
• 4:34
  have
• 4:34
  no
• 4:34
  what's
• 4:34
  going
• 4:35
  to
• 4:35
  come
• 4:35
  next.
• 4:36
  The
• 4:36
  overwhelming
• 4:38
  feedback
• 4:38
  that
• 4:38
  I've
• 4:39
  had
• 4:39
  through
• 4:39
  the
• 4:39
  show
• 4:40
  is
• 4:40
  we
• 4:41
  don't
• 4:41
  know
• 4:41
  what's
• 4:41
  going
• 4:41
  to
• 4:41
  happen
• 4:41
  with
• 4:42
  AI.
• 4:42
  We
• 4:42
  don't
• 4:43
  know
• 4:43
  what's
• 4:43
  going
• 4:43
  to
• 4:43
  happen
• 4:43
  with
• 4:43
  agentic.
• 4:44
  That
• 4:44
  I
• 4:44
  think
• 4:44
  really
• 4:44
  you
• 4:45
  want
• 4:45
  to
• 4:45
  talk
• 4:45
  about
• 4:45
  getting
• 4:46
  ahead
• 4:46
  of
• 4:46
  us,
• 4:46
  but.
• 4:46
  But
• 4:47
  we
• 4:47
  know
• 4:47
  we
• 4:47
  have
• 4:48
  to
• 4:48
  invest
• 4:49
  because
• 4:49
  the
• 4:49
  risk
• 4:49
  of
• 4:50
  not
• 4:50
  investing
• 4:50
  is
• 4:51
  greater
• 4:51
  than
• 4:51
  the
• 4:51
  risk
• 4:51
  of
• 4:52
  investing
• 4:52
  and
• 4:52
  getting
• 4:52
  it
• 4:52
  wrong.
• 4:53
  So
• 4:54
  we
• 4:54
  put
• 4:54
  more
• 4:54
  debates
• 4:55
  in
• 4:55
  to
• 4:55
  help
• 4:55
  people
• 4:56
  hear
• 4:56
  different
• 4:56
  sides
• 4:57
  of
• 4:57
  the
• 4:57
  arguments
• 4:57
  to
• 4:58
  try
• 4:58
  and
• 4:58
  make
• 4:58
  up
• 4:58
  their
• 4:58
  own
• 4:58
  minds
• 4:59
  as
• 4:59
  well.
• 4:59
  Yeah,
• 4:59
  yeah.
• 5:00
  I
• 5:00
  think
• 5:00
  that's
• 5:00
  a
• 5:00
  really
• 5:00
  good
• 5:00
  way
• 5:00
  to
• 5:00
  put
• 5:00
  it,
• 5:01
  Ben,
• 5:01
  because,
• 5:01
  you
• 5:01
  know,
• 5:01
  I've
• 5:01
  been
• 5:02
  in
• 5:02
  retail
• 5:02
  now
• 5:02
  almost
• 5:02
  30
• 5:03
  years
• 5:03
  and
• 5:04
  it's
• 5:04
  a
• 5:04
  good
• 5:04
  way
• 5:05
  to
• 5:05
  think
• 5:05
  about
• 5:05
  it.
• 5:05
  Like
• 5:05
  when
• 5:05
  people
• 5:06
  don't
• 5:06
  have
• 5:06
  all
• 5:06
  the
• 5:06
  answers,
• 5:07
  it
• 5:07
  probably
• 5:07
  is
• 5:07
  properly
• 5:08
  hyped.
• 5:08
  You
• 5:08
  know,
• 5:08
  I
• 5:08
  was
• 5:09
  making
• 5:09
  fun
• 5:09
  in
• 5:09
  Jess,
• 5:09
  Sarah,
• 5:10
  but
• 5:10
  that's
• 5:10
  probably
• 5:10
  where
• 5:10
  it
• 5:11
  is
• 5:11
  because,
• 5:11
  you
• 5:12
  know,
• 5:12
  otherwise
• 5:12
  you
• 5:12
  get
• 5:12
  people
• 5:13
  that
• 5:13
  are
• 5:13
  poo,
• 5:13
  pooing
• 5:13
  it
• 5:14
  or
• 5:14
  just
• 5:14
  rushing
• 5:15
  into
• 5:15
  it
• 5:15
  too
• 5:15
  quickly
• 5:16
  and
• 5:16
  you
• 5:16
  don't
• 5:16
  know
• 5:16
  the
• 5:16
  answers.
• 5:17
  It's
• 5:17
  very,
• 5:17
  very
• 5:18
  humbling
• 5:18
  and
• 5:18
  tells
• 5:18
  you
• 5:19
  that
• 5:19
  we're
• 5:19
  probably
• 5:19
  talking
• 5:19
  about
• 5:19
  it
• 5:20
  the
• 5:20
  right
• 5:20
  way.
• 5:20
  All
• 5:21
  right,
• 5:21
  so
• 5:21
  the
• 5:21
  next
• 5:21
  one,
• 5:22
  I'm
• 5:23
  going
• 5:23
  to
• 5:23
  keep
• 5:23
  it
• 5:23
  in
• 5:24
  the
• 5:24
  same
• 5:24
  realm,
• 5:25
  but
• 5:25
  I'm
• 5:25
  going
• 5:25
  to
• 5:25
  change
• 5:25
  it
• 5:25
  just
• 5:26
  slightly.
• 5:26
  So
• 5:27
  agentic
• 5:27
  AI
• 5:28
  overhyped,
• 5:29
  underhyped
• 5:30
  or
• 5:30
  properly
• 5:31
  hyped.
• 5:31
  And
• 5:31
  Joe,
• 5:32
  I'm
• 5:32
  going
• 5:32
  to
• 5:32
  go
• 5:32
  to
• 5:32
  you
• 5:32
  first
• 5:33
  because
• 5:33
  you
• 5:33
  are.
• 5:34
  You
• 5:34
  invented
• 5:34
  a
• 5:34
  new
• 5:34
  term
• 5:35
  yesterday
• 5:35
  on
• 5:35
  stage
• 5:36
  called
• 5:36
  a
• 5:36
  commerce.
• 5:37
  So
• 5:37
  I
• 5:37
  think
• 5:37
  I
• 5:37
  know
• 5:37
  which
• 5:37
  way
• 5:37
  you're
• 5:38
  going
• 5:38
  to
• 5:38
  roll
• 5:38
  on
• 5:38
  this
• 5:38
  one.
• 5:38
  Maybe
• 5:39
  the
• 5:39
  most
• 5:39
  controversial
• 5:40
  single
• 5:40
  thing
• 5:40
  said
• 5:41
  on
• 5:41
  stage
• 5:41
  at
• 5:41
  the
• 5:42
  show
• 5:42
  this,
• 5:42
  this
• 5:42
  past
• 5:43
  week
• 5:43
  was
• 5:43
  when
• 5:43
  I
• 5:43
  said,
• 5:44
  by
• 5:44
  next
• 5:44
  year
• 5:44
  we'll
• 5:44
  all
• 5:45
  be
• 5:45
  calling
• 5:45
  it
• 5:45
  a
• 5:45
  commerce
• 5:46
  instead
• 5:46
  of
• 5:46
  agentic
• 5:47
  commerce.
• 5:47
  But
• 5:47
  you
• 5:47
  know
• 5:47
  what
• 5:48
  Sarah's
• 5:48
  like.
• 5:48
  No.
• 5:50
  Your
• 5:50
  listeners
• 5:51
  can't
• 5:51
  hear
• 5:51
  my
• 5:52
  audience.
• 5:53
  We
• 5:53
  may
• 5:53
  or
• 5:53
  may
• 5:53
  not
• 5:54
  like
• 5:54
  I
• 5:54
  could
• 5:54
  be
• 5:54
  wrong
• 5:55
  about
• 5:55
  that.
• 5:55
  If
• 5:56
  it
• 5:56
  was
• 5:56
  a
• 5:56
  prediction
• 5:56
  everybody
• 5:57
  agreed
• 5:57
  with,
• 5:57
  it
• 5:57
  wouldn't
• 5:57
  be
• 5:57
  a
• 5:57
  good
• 5:58
  prediction.
• 5:58
  But
• 5:59
  I
• 5:59
  think,
• 6:00
  I
• 6:00
  think
• 6:01
  agentic.
• 6:02
  Agentic
• 6:02
  commerce.
• 6:03
  Agentic
• 6:03
  AI.
• 6:05
  Agentic
• 6:06
  AI
• 6:06
  Underhyped.
• 6:07
  Agentic
• 6:07
  commerce
• 6:08
  may
• 6:08
  be
• 6:08
  overhyped.
• 6:09
  Even
• 6:10
  though
• 6:10
  I'm
• 6:10
  the
• 6:10
  one
• 6:10
  that
• 6:10
  thinks
• 6:10
  E
• 6:11
  commerce
• 6:11
  is
• 6:11
  going
• 6:11
  to
• 6:11
  become
• 6:11
  the
• 6:12
  way
• 6:12
  that
• 6:12
  we
• 6:12
  shorthand
• 6:13
  refer
• 6:13
  to
• 6:13
  it.
• 6:13
  And
• 6:14
  we
• 6:14
  will
• 6:14
  give
• 6:14
  you
• 6:14
  so
• 6:14
  much
• 6:14
  credit
• 6:15
  if
• 6:15
  that
• 6:15
  takes
• 6:15
  off
• 6:16
  all
• 6:16
  you.
• 6:17
  I
• 6:17
  will
• 6:17
  bow
• 6:17
  down.
• 6:19
  We're
• 6:19
  proud
• 6:19
  of
• 6:19
  you.
• 6:19
  Yes.
• 6:21
  I
• 6:21
  don't
• 6:21
  know
• 6:21
  if
• 6:21
  I
• 6:21
  could
• 6:22
  make
• 6:22
  fetch
• 6:22
  happen,
• 6:22
  but
• 6:22
  I'll
• 6:23
  try.
• 6:23
  But
• 6:23
  so,
• 6:24
  but
• 6:24
  so
• 6:24
  net
• 6:24
  net.
• 6:24
  You
• 6:25
  think
• 6:25
  it's
• 6:25
  slightly
• 6:25
  overhyped.
• 6:28
  So
• 6:28
  I
• 6:28
  think,
• 6:28
  I
• 6:29
  think
• 6:29
  what
• 6:29
  agents
• 6:29
  are
• 6:30
  going
• 6:30
  to
• 6:30
  be
• 6:30
  able
• 6:30
  to
• 6:30
  do
• 6:31
  like
• 6:32
  behind
• 6:32
  the
• 6:32
  scenes
• 6:33
  of
• 6:33
  businesses
• 6:33
  to
• 6:34
  kind
• 6:34
  of
• 6:34
  help
• 6:34
  speed
• 6:34
  processes.
• 6:35
  I
• 6:36
  think,
• 6:36
  I
• 6:36
  think
• 6:36
  that
• 6:36
  is
• 6:36
  going
• 6:37
  to
• 6:37
  be
• 6:37
  incredibly
• 6:37
  transformative.
• 6:38
  I
• 6:39
  think,
• 6:39
  I
• 6:39
  think
• 6:40
  the
• 6:40
  jury's
• 6:40
  still
• 6:40
  out
• 6:41
  in
• 6:41
  my
• 6:41
  mind
• 6:42
  about
• 6:42
  like
• 6:42
  the
• 6:42
  strong
• 6:43
  kind
• 6:43
  of
• 6:43
  far
• 6:44
  end
• 6:44
  definition,
• 6:45
  the
• 6:45
  extreme
• 6:45
  definition
• 6:45
  of
• 6:46
  agentic
• 6:47
  commerce
• 6:47
  of
• 6:47
  like
• 6:47
  the
• 6:48
  bots
• 6:48
  are
• 6:48
  going
• 6:48
  to
• 6:48
  be
• 6:48
  doing
• 6:48
  your
• 6:49
  shopping
• 6:49
  for
• 6:49
  you.
• 6:49
  Like
• 6:50
  I
• 6:50
  think
• 6:50
  that
• 6:51
  may
• 6:51
  be
• 6:51
  a
• 6:51
  little
• 6:51
  overhyped
• 6:52
  right
• 6:52
  now.
• 6:53
  No
• 6:53
  denying
• 6:53
  that
• 6:54
  agents
• 6:54
  are
• 6:54
  going
• 6:54
  to
• 6:54
  help
• 6:54
  you
• 6:55
  make
• 6:55
  your
• 6:55
  purchase
• 6:55
  decisions,
• 6:56
  whether
• 6:56
  you
• 6:56
  make
• 6:56
  those
• 6:56
  decisions
• 6:57
  through
• 6:57
  E
• 6:57
  commerce
• 6:57
  storefronts
• 6:58
  or
• 6:58
  in
• 6:58
  physical
• 6:59
  stores.
• 6:59
  But
• 7:00
  I
• 7:00
  think
• 7:00
  the
• 7:01
  idea
• 7:01
  that
• 7:01
  we're
• 7:01
  all
• 7:01
  just
• 7:02
  going
• 7:02
  to
• 7:02
  kind
• 7:02
  of
• 7:02
  sit
• 7:02
  back
• 7:02
  and
• 7:03
  agents
• 7:04
  will
• 7:04
  be
• 7:04
  kind
• 7:04
  of
• 7:04
  doing
• 7:04
  the
• 7:05
  grocery
• 7:05
  shopping
• 7:05
  or
• 7:06
  buying
• 7:06
  my
• 7:06
  new
• 7:06
  wardrobe
• 7:07
  or
• 7:07
  replacing
• 7:08
  the
• 7:08
  shirt
• 7:08
  that
• 7:08
  I
• 7:09
  somehow
• 7:09
  got
• 7:09
  to
• 7:09
  rip
• 7:09
  in,
• 7:10
  I
• 7:10
  think
• 7:10
  that's
• 7:11
  overhyped
• 7:11
  for
• 7:11
  the
• 7:11
  moment.
• 7:12
  Okay,
• 7:12
  Ben,
• 7:13
  Agree.
• 7:13
  Disagree.
• 7:14
  Thumbs
• 7:14
  up.
• 7:14
  Thumbs
• 7:15
  down
• 7:15
  on
• 7:15
  E
• 7:15
  commerce
• 7:15
  too
• 7:16
  while
• 7:16
  you're
• 7:16
  here.
• 7:16
  I
• 7:16
  mean
• 7:17
  E
• 7:17
  commerce
• 7:17
  is
• 7:17
  clearly
• 7:18
  an
• 7:18
  abomination
• 7:19
  of
• 7:19
  the
• 7:20
  British
• 7:20
  language.
• 7:22
  The
• 7:22
  British
• 7:22
  language.
• 7:24
  One
• 7:25
  of
• 7:25
  the
• 7:25
  things
• 7:25
  that
• 7:25
  we
• 7:25
  wanted
• 7:25
  to
• 7:26
  do
• 7:26
  as
• 7:26
  well
• 7:26
  as
• 7:26
  having
• 7:26
  the
• 7:27
  debate
• 7:27
  was
• 7:27
  to
• 7:27
  reflect
• 7:28
  different
• 7:29
  bits
• 7:30
  of
• 7:30
  research.
• 7:31
  So
• 7:31
  thinking
• 7:32
  back
• 7:32
  to
• 7:32
  Tuesday
• 7:32
  morning,
• 7:33
  which
• 7:33
  is
• 7:33
  only
• 7:34
  two
• 7:34
  and
• 7:34
  a
• 7:34
  half
• 7:34
  days
• 7:35
  ago,
• 7:35
  but
• 7:35
  feels
• 7:35
  like
• 7:35
  a
• 7:35
  lifetime
• 7:36
  ago,
• 7:36
  we
• 7:37
  opened
• 7:37
  the
• 7:37
  show
• 7:38
  with
• 7:38
  some
• 7:39
  research
• 7:39
  sessions
• 7:39
  on
• 7:40
  the
• 7:40
  AI
• 7:40
  stage
• 7:41
  and
• 7:42
  two
• 7:42
  of
• 7:42
  our
• 7:42
  partners
• 7:43
  had.
• 7:43
  We
• 7:44
  commissioned
• 7:44
  and
• 7:44
  worked
• 7:44
  together
• 7:45
  to
• 7:45
  produce
• 7:45
  brand
• 7:45
  new
• 7:45
  research
• 7:46
  for
• 7:46
  the
• 7:46
  show.
• 7:47
  So
• 7:47
  firstly,
• 7:48
  emarketer.
• 7:48
  I'm
• 7:49
  sure
• 7:49
  many
• 7:49
  people
• 7:49
  in
• 7:49
  the
• 7:50
  audience
• 7:50
  and
• 7:50
  many
• 7:50
  of
• 7:50
  your
• 7:50
  listeners
• 7:51
  are
• 7:51
  very
• 7:51
  familiar
• 7:51
  with
• 7:51
  eMarketer.
• 7:52
  You've
• 7:53
  used
• 7:53
  their
• 7:53
  black
• 7:53
  and
• 7:53
  red
• 7:53
  slides
• 7:54
  in
• 7:54
  publication.
• 7:56
  They're
• 7:56
  really
• 7:56
  well
• 7:57
  respected.
• 7:58
  Brand
• 7:58
  new
• 7:58
  research
• 7:59
  that
• 8:00
  they
• 8:00
  came
• 8:00
  out
• 8:01
  with
• 8:01
  the
• 8:01
  forecast
• 8:02
  that
• 8:02
  by
• 8:02
  2029,
• 8:04
  8.8%
• 8:06
  that's
• 8:06
  their
• 8:06
  average
• 8:07
  case
• 8:07
  of
• 8:08
  E
• 8:08
  commerce
• 8:09
  will
• 8:09
  be
• 8:10
  agentic.
• 8:11
  Okay,
• 8:12
  so
• 8:12
  what
• 8:12
  they're
• 8:12
  basically
• 8:13
  saying
• 8:13
  is
• 8:13
  we're
• 8:14
  expecting
• 8:14
  a
• 8:15
  fragmentation
• 8:16
  of
• 8:16
  the
• 8:16
  ecom
• 8:17
  market.
• 8:17
  So
• 8:17
  that's
• 8:18
  kind
• 8:18
  of
• 8:18
  putting
• 8:18
  agency
• 8:19
  commerce
• 8:19
  alongside
• 8:20
  social
• 8:20
  commerce.
• 8:21
  You
• 8:21
  know,
• 8:21
  it's
• 8:21
  a
• 8:21
  bit
• 8:22
  fragment.
• 8:23
  The
• 8:23
  next
• 8:23
  presentation
• 8:24
  up
• 8:24
  was
• 8:25
  Holden
• 8:25
  Bale
• 8:26
  from.
• 8:26
  From
• 8:26
  Merkel.
• 8:28
  Holden
• 8:28
  came
• 8:29
  out,
• 8:29
  I
• 8:29
  think.
• 8:29
  I
• 8:30
  think
• 8:30
  if
• 8:30
  I'm
• 8:30
  being
• 8:30
  really
• 8:30
  honest,
• 8:31
  Holden
• 8:31
  has
• 8:32
  been
• 8:32
  a
• 8:32
  bit
• 8:32
  provocative.
• 8:33
  He
• 8:33
  never
• 8:33
  does
• 8:34
  that.
• 8:34
  He
• 8:34
  never
• 8:34
  does
• 8:34
  that.
• 8:37
  Their
• 8:37
  forecast
• 8:37
  that
• 8:38
  they
• 8:38
  launched
• 8:38
  at
• 8:38
  the
• 8:38
  show
• 8:39
  was
• 8:39
  that
• 8:39
  they
• 8:39
  believe
• 8:40
  that
• 8:40
  by
• 8:40
  2029,
• 8:42
  25%
• 8:45
  of
• 8:45
  e
• 8:45
  commerce
• 8:46
  will
• 8:47
  be
• 8:47
  through
• 8:47
  answer
• 8:47
  engines.
• 8:48
  So
• 8:48
  I
• 8:48
  think
• 8:49
  25%
• 8:49
  of
• 8:50
  all
• 8:50
  E
• 8:50
  commerce
• 8:50
  will
• 8:50
  start
• 8:51
  on
• 8:52
  a
• 8:52
  Claude
• 8:53
  or
• 8:53
  a
• 8:53
  Gemini
• 8:53
  or.
• 8:54
  And
• 8:54
  then
• 8:54
  in
• 8:54
  addition
• 8:55
  a
• 8:55
  further
• 8:56
  10
• 8:57
  to
• 8:57
  25%
• 8:58
  will
• 8:59
  be
• 8:59
  entirely
• 9:00
  autonomous,
• 9:01
  will
• 9:01
  be
• 9:01
  entirely
• 9:02
  bot
• 9:02
  to
• 9:02
  bottom.
• 9:03
  So
• 9:03
  that's
• 9:03
  up
• 9:03
  to
• 9:03
  50%.
• 9:04
  That's
• 9:04
  up
• 9:04
  to
• 9:04
  50%
• 9:05
  of
• 9:06
  E
• 9:06
  commerce
• 9:07
  will
• 9:07
  be
• 9:08
  agentic.
• 9:09
  And
• 9:09
  I
• 9:09
  think
• 9:10
  that's
• 9:10
  fascinating.
• 9:10
  I
• 9:11
  think
• 9:11
  that's
• 9:11
  brilliant.
• 9:12
  Provocation
• 9:14
  really
• 9:14
  gets
• 9:14
  you
• 9:14
  thinking
• 9:15
  about
• 9:15
  the
• 9:15
  reality
• 9:15
  and
• 9:16
  that's
• 9:16
  based
• 9:16
  on
• 9:17
  replenish
• 9:18
  the
• 9:18
  idea
• 9:19
  that
• 9:19
  you
• 9:20
  have
• 9:20
  shopping
• 9:20
  occasions
• 9:21
  that
• 9:21
  you
• 9:21
  want
• 9:21
  to
• 9:21
  invest
• 9:21
  time
• 9:22
  into
• 9:22
  and
• 9:22
  shopping
• 9:23
  occasions
• 9:23
  that
• 9:23
  you
• 9:23
  don't.
• 9:24
  So
• 9:24
  I
• 9:25
  think
• 9:25
  Holden
• 9:26
  is
• 9:26
  overhyping
• 9:27
  it.
• 9:27
  I
• 9:28
  think.
• 9:28
  I
• 9:28
  think
• 9:28
  sky
• 9:29
  and
• 9:29
  E
• 9:29
  Marketer
• 9:29
  have
• 9:30
  underhyped
• 9:30
  it.
• 9:30
  And
• 9:31
  I
• 9:31
  think
• 9:31
  the
• 9:31
  reality
• 9:31
  is
• 9:32
  probably
• 9:32
  to
• 9:32
  get
• 9:32
  ready
• 9:32
  for
• 9:32
  something
• 9:33
  in
• 9:33
  the
• 9:33
  middle,
• 9:33
  which
• 9:34
  is
• 9:34
  the
• 9:34
  scenario
• 9:34
  that
• 9:35
  most
• 9:36
  of
• 9:36
  the
• 9:37
  industry
• 9:37
  that
• 9:37
  we
• 9:38
  surveyed
• 9:38
  before
• 9:38
  the
• 9:39
  show
• 9:39
  with
• 9:39
  Placer
• 9:40
  said
• 9:40
  is
• 9:40
  how
• 9:40
  they're
• 9:40
  thinking
• 9:41
  about
• 9:41
  it.
• 9:41
  Interesting.
• 9:42
  I
• 9:42
  actually
• 9:42
  think
• 9:42
  they're
• 9:43
  both
• 9:43
  overhyping
• 9:43
  it.
• 9:43
  But
• 9:44
  I'm
• 9:44
  curious,
• 9:44
  Sarah,
• 9:44
  what
• 9:45
  do
• 9:45
  you
• 9:45
  think?
• 9:45
  You
• 9:46
  know,
• 9:46
  I
• 9:46
  would
• 9:46
  almost
• 9:46
  agree
• 9:47
  with
• 9:47
  the
• 9:47
  first
• 9:47
  half
• 9:47
  of
• 9:47
  what
• 9:47
  Holden
• 9:48
  said,
• 9:48
  but
• 9:48
  the
• 9:48
  second
• 9:49
  half,
• 9:49
  I
• 9:49
  mean.
• 9:49
  Yes.
• 9:50
  Yeah.
• 9:51
  Yes.
• 9:51
  I
• 9:51
  think
• 9:51
  we're
• 9:52
  going
• 9:52
  to
• 9:52
  start.
• 9:52
  I
• 9:52
  mean,
• 9:52
  how
• 9:52
  many
• 9:53
  of
• 9:53
  my
• 9:53
  searches
• 9:53
  right
• 9:53
  now
• 9:53
  are
• 9:54
  starting
• 9:54
  in
• 9:54
  Claude?
• 9:54
  And
• 9:55
  then
• 9:55
  I
• 9:55
  narrow
• 9:55
  down
• 9:55
  and
• 9:55
  then
• 9:56
  nobody's
• 9:56
  tracking
• 9:57
  properly
• 9:57
  yet.
• 9:57
  So
• 9:57
  they
• 9:57
  don't
• 9:58
  even
• 9:58
  know
• 9:58
  where
• 9:58
  I
• 9:58
  came
• 9:58
  from,
• 9:59
  which
• 9:59
  is
• 9:59
  a
• 9:59
  whole
• 10:00
  nother
• 10:00
  challenge.
• 10:00
  But
• 10:01
  am
• 10:01
  I
• 10:02
  going
• 10:02
  to
• 10:02
  have
• 10:02
  agents
• 10:03
  doing
• 10:03
  that
• 10:03
  on
• 10:03
  my
• 10:03
  behalf?
• 10:04
  To
• 10:04
  a
• 10:05
  large
• 10:05
  extent?
• 10:07
  No,
• 10:07
  I
• 10:08
  don't
• 10:08
  think.
• 10:08
  I
• 10:08
  think
• 10:08
  it
• 10:08
  is
• 10:09
  overhyped
• 10:09
  in
• 10:09
  that
• 10:09
  regard.
• 10:10
  There
• 10:11
  are
• 10:11
  some
• 10:11
  really
• 10:11
  great
• 10:11
  examples
• 10:12
  that
• 10:12
  have
• 10:12
  come
• 10:12
  up
• 10:12
  at
• 10:12
  the
• 10:12
  show
• 10:12
  though.
• 10:13
  I
• 10:13
  just
• 10:13
  talked
• 10:13
  with
• 10:13
  Alina,
• 10:14
  the
• 10:14
  president
• 10:15
  of
• 10:15
  David's
• 10:15
  Bridal
• 10:16
  and
• 10:16
  they
• 10:16
  are
• 10:16
  building
• 10:17
  agents
• 10:17
  to
• 10:17
  help
• 10:18
  women
• 10:18
  plan
• 10:19
  their
• 10:19
  entire
• 10:19
  wedding.
• 10:20
  The
• 10:20
  300
• 10:20
  decisions
• 10:21
  that
• 10:21
  they're
• 10:21
  going
• 10:21
  to
• 10:21
  make
• 10:22
  for
• 10:22
  18
• 10:22
  months
• 10:22
  for
• 10:23
  their
• 10:23
  wedding,
• 10:23
  like,
• 10:23
  okay,
• 10:24
  that
• 10:24
  is
• 10:24
  a
• 10:24
  really
• 10:24
  great
• 10:25
  example,
• 10:26
  but
• 10:26
  it
• 10:26
  is
• 10:26
  not
• 10:27
  going
• 10:27
  through
• 10:27
  the
• 10:28
  process
• 10:28
  of
• 10:28
  actually
• 10:28
  purchasing
• 10:29
  on
• 10:29
  your
• 10:29
  behalf
• 10:30
  that
• 10:30
  that
• 10:30
  is
• 10:30
  where
• 10:31
  the
• 10:31
  breaking
• 10:31
  point
• 10:31
  happens
• 10:32
  on
• 10:32
  Overhype.
• 10:32
  Yeah.
• 10:33
  Right.
• 10:33
  Last
• 10:33
  week
• 10:33
  we.
• 10:34
  We
• 10:34
  kind
• 10:34
  of
• 10:34
  thought
• 10:34
  maybe
• 10:35
  we
• 10:35
  need
• 10:35
  to
• 10:35
  rewrite
• 10:35
  a
• 10:36
  whole
• 10:36
  bunch
• 10:36
  of
• 10:36
  things.
• 10:36
  When
• 10:37
  OpenAI
• 10:37
  said
• 10:37
  that
• 10:37
  they
• 10:38
  were
• 10:38
  pulling
• 10:38
  away
• 10:38
  from
• 10:38
  checkout
• 10:39
  in
• 10:39
  chatbots.
• 10:40
  Right.
• 10:40
  But,
• 10:40
  but
• 10:41
  just
• 10:41
  two
• 10:41
  days
• 10:41
  ago
• 10:42
  they
• 10:42
  announced
• 10:42
  instead
• 10:43
  of
• 10:43
  that
• 10:43
  they
• 10:43
  are
• 10:43
  kind
• 10:44
  of
• 10:44
  doubling
• 10:44
  down
• 10:44
  on
• 10:44
  the
• 10:44
  research
• 10:45
  capabilities
• 10:45
  that
• 10:45
  ChatGPT
• 10:46
  brings
• 10:46
  to
• 10:46
  the
• 10:46
  shopping
• 10:47
  journey
• 10:47
  by
• 10:47
  adding
• 10:47
  a
• 10:48
  whole
• 10:48
  bunch
• 10:48
  of
• 10:48
  new,
• 10:49
  new
• 10:49
  features
• 10:49
  and
• 10:49
  capabilities
• 10:50
  on
• 10:50
  that
• 10:50
  side.
• 10:50
  So
• 10:50
  again,
• 10:51
  as
• 10:51
  long
• 10:51
  as
• 10:51
  you
• 10:51
  define
• 10:53
  agent
• 10:53
  commerce
• 10:54
  broadly
• 10:54
  as
• 10:55
  like,
• 10:55
  you
• 10:55
  know,
• 10:55
  an
• 10:55
  agent
• 10:56
  kind
• 10:56
  of
• 10:56
  helps
• 10:56
  make
• 10:56
  a
• 10:57
  purchase
• 10:57
  decision,
• 10:57
  like
• 10:58
  then
• 10:58
  I
• 10:58
  think,
• 10:59
  I
• 10:59
  think
• 10:59
  that
• 10:59
  is
• 10:59
  absolutely
• 11:00
  happening
• 11:00
  in
• 11:00
  a
• 11:00
  vast
• 11:01
  real
• 11:01
  way.
• 11:01
  It's
• 11:02
  just
• 11:02
  kind
• 11:02
  of
• 11:02
  that,
• 11:02
  that
• 11:03
  kind
• 11:03
  of
• 11:03
  hands
• 11:04
  off
• 11:04
  thing
• 11:04
  that
• 11:04
  I
• 11:05
  think
• 11:05
  is
• 11:05
  less
• 11:05
  likely
• 11:06
  to
• 11:06
  happen
• 11:06
  in
• 11:06
  the
• 11:06
  next
• 11:07
  by
• 11:07
  the
• 11:07
  time
• 11:07
  we
• 11:07
  all
• 11:07
  meet
• 11:07
  again.
• 11:08
  Yeah,
• 11:08
  and
• 11:08
  that
• 11:08
  was
• 11:08
  Holden's
• 11:09
  main
• 11:09
  point
• 11:09
  too
• 11:09
  was
• 11:10
  that,
• 11:10
  you
• 11:10
  know,
• 11:10
  it's
• 11:10
  changing
• 11:11
  how
• 11:11
  we
• 11:11
  conduct
• 11:12
  search
• 11:12
  Commerce.
• 11:12
  Right.
• 11:13
  The
• 11:13
  LLMs
• 11:13
  are
• 11:13
  going
• 11:13
  to
• 11:14
  become
• 11:14
  the
• 11:14
  primary
• 11:14
  or
• 11:14
  a
• 11:15
  strong
• 11:15
  vehicle
• 11:16
  for
• 11:16
  how
• 11:16
  we
• 11:16
  conduct
• 11:16
  commerce
• 11:17
  via
• 11:17
  search
• 11:17
  and
• 11:17
  a
• 11:18
  new
• 11:18
  way
• 11:18
  to
• 11:18
  search.
• 11:18
  And
• 11:19
  I
• 11:19
  think
• 11:19
  somebody
• 11:19
  also
• 11:19
  said
• 11:20
  that's
• 11:20
  like
• 11:20
  a
• 11:20
  2%
• 11:21
  right
• 11:21
  now
• 11:21
  in
• 11:22
  terms
• 11:22
  of
• 11:22
  the
• 11:22
  amount
• 11:22
  and
• 11:22
  who
• 11:22
  knows
• 11:23
  what
• 11:23
  number
• 11:23
  is
• 11:23
  correct
• 11:23
  or
• 11:24
  not.
• 11:24
  But
• 11:24
  getting
• 11:25
  from
• 11:25
  2%
• 11:25
  now
• 11:26
  to
• 11:26
  the
• 11:26
  numbers
• 11:26
  that
• 11:26
  you're
• 11:27
  talking
• 11:27
  about
• 11:27
  just
• 11:27
  on
• 11:27
  the
• 11:27
  search
• 11:28
  side
• 11:28
  and
• 11:28
  then
• 11:28
  getting
• 11:29
  the
• 11:29
  agentic
• 11:30
  side
• 11:30
  in
• 11:30
  that
• 11:30
  too,
• 11:31
  like,
• 11:31
  I
• 11:31
  don't
• 11:31
  know,
• 11:31
  those
• 11:32
  numbers
• 11:32
  just
• 11:32
  seem
• 11:32
  lofty
• 11:33
  to
• 11:33
  me.
• 11:33
  And
• 11:33
  the
• 11:33
  other
• 11:33
  thing
• 11:33
  too
• 11:34
  that
• 11:34
  makes
• 11:34
  me
• 11:34
  think
• 11:34
  of,
• 11:35
  there's
• 11:35
  a
• 11:35
  quote
• 11:35
  that
• 11:36
  I
• 11:36
  heard
• 11:36
  at
• 11:36
  Shop
• 11:36
  Talk
• 11:37
  originally,
• 11:37
  which
• 11:37
  is
• 11:38
  we
• 11:38
  always
• 11:39
  overestimate
• 11:39
  the
• 11:39
  change
• 11:40
  that
• 11:40
  will
• 11:40
  that
• 11:41
  will
• 11:41
  occur
• 11:41
  in
• 11:41
  the
• 11:42
  next
• 11:42
  two
• 11:42
  years
• 11:42
  and
• 11:42
  underestimate
• 11:43
  the
• 11:43
  change
• 11:43
  that
• 11:44
  will
• 11:44
  occur
• 11:44
  over
• 11:44
  the
• 11:45
  next
• 11:45
  10.
• 11:45
  So
• 11:46
  I
• 11:46
  think
• 11:46
  that's
• 11:46
  a
• 11:46
  good
• 11:46
  perspective
• 11:47
  to
• 11:47
  have
• 11:47
  as
• 11:47
  we
• 11:47
  think
• 11:48
  about
• 11:48
  this
• 11:48
  question.
• 11:48
  I'm
• 11:49
  not
• 11:49
  even
• 11:49
  sure
• 11:49
  if
• 11:49
  anybody's
• 11:49
  bold
• 11:50
  enough
• 11:50
  to
• 11:50
  make
• 11:50
  a
• 11:50
  10
• 11:51
  year
• 11:51
  prediction
• 11:51
  at
• 11:51
  this
• 11:51
  point.
• 11:52
  Make
• 11:52
  a
• 11:52
  10
• 11:52
  month
• 11:53
  prediction.
• 11:53
  10
• 11:54
  years
• 11:54
  is
• 11:54
  hard.
• 11:54
  I
• 11:54
  mean,
• 11:55
  shop
• 11:55
  back
• 11:55
  10
• 11:55
  years
• 11:55
  ago,
• 11:56
  what
• 11:56
  were
• 11:56
  we
• 11:56
  talking
• 11:56
  about?
• 11:56
  We
• 11:56
  weren't
• 11:57
  talking
• 11:57
  about
• 11:57
  this,
• 11:57
  that's
• 11:57
  for
• 11:58
  sure.
• 11:58
  Yeah,
• 11:58
  there
• 11:58
  is
• 11:58
  AI,
• 11:59
  but
• 11:59
  it
• 11:59
  definitely
• 11:59
  wasn't
• 12:00
  agentic
• 12:00
  AI.
• 12:00
  No,
• 12:00
  definitely
• 12:01
  not.
• 12:01
  All
• 12:02
  right,
• 12:02
  next
• 12:02
  one.
• 12:03
  Sarah,
• 12:04
  let's
• 12:04
  go
• 12:04
  back
• 12:04
  to
• 12:04
  you.
• 12:04
  Okay.
• 12:05
  What's
• 12:05
  the
• 12:05
  biggest
• 12:06
  change
• 12:06
  you
• 12:06
  observed
• 12:07
  in
• 12:07
  Shop
• 12:08
  Talk
• 12:08
  2026
• 12:09
  versus
• 12:09
  Shop
• 12:09
  Talk
• 12:10
  2025?
• 12:12
  You
• 12:12
  know,
• 12:13
  I
• 12:13
  think
• 12:13
  the
• 12:13
  biggest
• 12:13
  change
• 12:14
  is
• 12:14
  a
• 12:14
  very
• 12:14
  human
• 12:15
  change.
• 12:15
  I
• 12:16
  think
• 12:16
  I've
• 12:16
  had
• 12:16
  so
• 12:17
  many
• 12:17
  conversations
• 12:17
  this
• 12:18
  week,
• 12:18
  I
• 12:18
  think
• 12:18
  a
• 12:18
  lot
• 12:18
  of
• 12:19
  the
• 12:19
  conversations
• 12:19
  on
• 12:19
  stage,
• 12:20
  this
• 12:21
  willingness
• 12:21
  to
• 12:22
  acknowledge
• 12:23
  that
• 12:23
  you
• 12:23
  don't
• 12:24
  know
• 12:24
  what
• 12:24
  comes
• 12:24
  next,
• 12:25
  you're
• 12:25
  a
• 12:25
  bit
• 12:25
  overwhelmed,
• 12:26
  you're
• 12:26
  not
• 12:26
  sure
• 12:26
  what
• 12:27
  to
• 12:27
  prioritize.
• 12:28
  Hey,
• 12:28
  what
• 12:29
  are
• 12:29
  you
• 12:29
  doing?
• 12:29
  Like
• 12:30
  ego
• 12:31
  is
• 12:31
  out
• 12:31
  right
• 12:32
  now.
• 12:32
  Like
• 12:32
  there
• 12:32
  it
• 12:33
  Is
• 12:33
  this
• 12:33
  moment
• 12:33
  where
• 12:33
  I
• 12:33
  think
• 12:34
  people
• 12:34
  are
• 12:34
  just
• 12:34
  acknowledging
• 12:35
  and
• 12:35
  being
• 12:35
  really
• 12:35
  open
• 12:36
  about
• 12:36
  the
• 12:36
  challenges
• 12:36
  they're
• 12:37
  having.
• 12:37
  I
• 12:38
  have
• 12:38
  not
• 12:38
  seen
• 12:38
  that
• 12:38
  happen
• 12:39
  since
• 12:39
  the,
• 12:39
  like,
• 12:40
  height
• 12:40
  very
• 12:41
  beginning,
• 12:41
  let's
• 12:41
  say
• 12:42
  April,
• 12:42
  May
• 12:43
  of
• 12:43
  2020,
• 12:43
  when
• 12:44
  we're
• 12:44
  all
• 12:44
  like,
• 12:44
  oh,
• 12:45
  no,
• 12:45
  like,
• 12:45
  our
• 12:45
  stores
• 12:46
  are
• 12:46
  closed.
• 12:46
  What
• 12:46
  are
• 12:46
  you
• 12:47
  doing?
• 12:47
  We
• 12:47
  can't
• 12:47
  get
• 12:47
  FedEx
• 12:48
  packages
• 12:48
  out.
• 12:48
  What
• 12:48
  are
• 12:48
  you
• 12:49
  doing?
• 12:49
  Like,
• 12:50
  that
• 12:50
  was
• 12:50
  the
• 12:50
  last
• 12:50
  time
• 12:51
  I
• 12:51
  saw
• 12:51
  us
• 12:51
  behave
• 12:51
  this
• 12:51
  way.
• 12:52
  I
• 12:52
  kind
• 12:52
  of
• 12:52
  thought,
• 12:52
  okay,
• 12:53
  we're
• 12:53
  gonna.
• 12:53
  We're
• 12:53
  gonna
• 12:54
  stay
• 12:54
  that
• 12:54
  way.
• 12:54
  Right?
• 12:54
  And
• 12:54
  we
• 12:54
  didn't.
• 12:55
  Everybody
• 12:55
  went
• 12:55
  to
• 12:55
  back
• 12:55
  to
• 12:56
  their
• 12:56
  corner
• 12:56
  in
• 12:56
  their
• 12:56
  bubble,
• 12:56
  and
• 12:57
  they.
• 12:57
  And
• 12:57
  now
• 12:57
  all
• 12:57
  of
• 12:58
  a
• 12:58
  sudden,
• 12:58
  everybody's
• 12:58
  like,
• 12:58
  wait
• 12:58
  a
• 12:59
  minute.
• 12:59
  This
• 12:59
  change
• 12:59
  is
• 13:00
  happening
• 13:00
  so
• 13:00
  fast.
• 13:00
  I
• 13:01
  can't
• 13:01
  keep
• 13:01
  up.
• 13:02
  I
• 13:02
  need
• 13:02
  to
• 13:02
  talk
• 13:02
  with
• 13:02
  other
• 13:03
  people
• 13:03
  and
• 13:03
  just
• 13:03
  have
• 13:03
  an
• 13:03
  honest
• 13:04
  conversation.
• 13:04
  So,
• 13:05
  honestly,
• 13:05
  even
• 13:06
  from
• 13:06
  November
• 13:07
  of
• 13:07
  last
• 13:07
  year,
• 13:07
  I
• 13:07
  think
• 13:08
  that's
• 13:08
  changed
• 13:08
  a
• 13:08
  lot.
• 13:08
  People's
• 13:09
  willingness
• 13:09
  to
• 13:09
  be
• 13:10
  like,
• 13:10
  I
• 13:10
  don't
• 13:10
  know
• 13:10
  all
• 13:10
  the
• 13:10
  answers.
• 13:11
  Help
• 13:11
  me
• 13:11
  out.
• 13:11
  What
• 13:11
  do
• 13:12
  you
• 13:12
  know?
• 13:13
  Yeah.
• 13:13
  Ego
• 13:14
  is
• 13:14
  very
• 13:14
  easy
• 13:15
  to
• 13:15
  see
• 13:15
  right
• 13:15
  now,
• 13:15
  and
• 13:16
  I
• 13:16
  think
• 13:16
  that's
• 13:16
  a
• 13:16
  big
• 13:16
  change.
• 13:17
  Yeah.
• 13:17
  And
• 13:17
  that's
• 13:18
  funny,
• 13:18
  too,
• 13:18
  because
• 13:18
  my
• 13:18
  answer
• 13:18
  to
• 13:19
  that
• 13:19
  question
• 13:19
  is
• 13:19
  actually,
• 13:19
  like,
• 13:19
  I
• 13:20
  had
• 13:20
  a
• 13:20
  lot
• 13:20
  of
• 13:20
  conversations
• 13:21
  with
• 13:21
  people
• 13:21
  off
• 13:21
  stage
• 13:22
  about
• 13:22
  how
• 13:22
  their
• 13:23
  C
• 13:23
  Suite
• 13:23
  executives
• 13:24
  are
• 13:24
  now
• 13:24
  focused
• 13:25
  on
• 13:25
  data
• 13:25
  for
• 13:25
  the
• 13:25
  first
• 13:25
  time,
• 13:26
  which
• 13:26
  is
• 13:27
  something
• 13:27
  that,
• 13:27
  you
• 13:27
  know,
• 13:27
  people
• 13:27
  always
• 13:28
  gave
• 13:28
  lip
• 13:28
  service
• 13:28
  to
• 13:29
  it.
• 13:29
  But
• 13:29
  now,
• 13:29
  because
• 13:29
  of
• 13:30
  everything
• 13:30
  we
• 13:30
  just
• 13:30
  talked
• 13:30
  about
• 13:30
  in
• 13:31
  the
• 13:31
  first
• 13:31
  two
• 13:31
  questions,
• 13:31
  like,
• 13:32
  people
• 13:32
  are
• 13:32
  actually
• 13:32
  paying
• 13:32
  attention
• 13:33
  to
• 13:33
  it
• 13:33
  and
• 13:33
  figuring
• 13:33
  out
• 13:34
  what
• 13:34
  their
• 13:34
  strategy
• 13:34
  is
• 13:34
  going
• 13:35
  to
• 13:35
  be.
• 13:35
  But.
• 13:35
  So,
• 13:35
  yeah,
• 13:36
  and
• 13:36
  I
• 13:36
  think
• 13:36
  that
• 13:36
  comes
• 13:36
  along
• 13:36
  with
• 13:37
  what
• 13:37
  you're
• 13:37
  saying,
• 13:37
  because
• 13:37
  people
• 13:37
  aren't
• 13:38
  sure.
• 13:38
  Joe,
• 13:39
  what
• 13:39
  do
• 13:39
  you
• 13:39
  think?
• 13:39
  I
• 13:39
  mean,
• 13:39
  I
• 13:40
  think
• 13:40
  in
• 13:40
  terms
• 13:40
  of
• 13:41
  shop
• 13:42
  talk,
• 13:42
  spring
• 13:42
  25
• 13:43
  to
• 13:43
  26.
• 13:44
  Right.
• 13:44
  Spring
• 13:44
  last
• 13:44
  year,
• 13:45
  we
• 13:45
  themed
• 13:45
  it
• 13:46
  Retail's
• 13:46
  New
• 13:46
  Golden
• 13:47
  Age.
• 13:47
  Because
• 13:47
  I
• 13:48
  was
• 13:48
  feeling
• 13:48
  a
• 13:48
  little
• 13:48
  like,
• 13:49
  swagger
• 13:50
  in
• 13:50
  that
• 13:50
  moment,
• 13:50
  and
• 13:51
  I
• 13:51
  think
• 13:52
  there
• 13:52
  was
• 13:52
  a
• 13:52
  lot
• 13:52
  of
• 13:53
  that.
• 13:53
  Again,
• 13:53
  back
• 13:54
  to
• 13:54
  the
• 13:54
  overhyped
• 13:54
  underhype.
• 13:55
  Like,
• 13:55
  everybody
• 13:55
  was
• 13:56
  talking
• 13:56
  about,
• 13:56
  AI
• 13:57
  is
• 13:57
  going
• 13:57
  to
• 13:57
  be
• 13:57
  awesome
• 13:57
  and
• 13:57
  we've
• 13:58
  got
• 13:58
  this
• 13:58
  licked.
• 13:59
  And,
• 13:59
  like,
• 13:59
  exactly
• 14:00
  to
• 14:00
  Sarah's
• 14:00
  point,
• 14:00
  this
• 14:00
  year
• 14:01
  was
• 14:01
  kind
• 14:01
  of
• 14:01
  like,
• 14:01
  we
• 14:02
  don't.
• 14:02
  We
• 14:02
  don't
• 14:02
  know.
• 14:03
  And
• 14:03
  just
• 14:03
  being
• 14:03
  able
• 14:04
  to
• 14:04
  admit
• 14:04
  that
• 14:04
  you
• 14:04
  don't
• 14:05
  know.
• 14:05
  I
• 14:05
  think
• 14:05
  there
• 14:05
  are
• 14:05
  lots
• 14:05
  of
• 14:06
  moments
• 14:06
  of
• 14:06
  empathy
• 14:06
  where
• 14:07
  hopefully
• 14:07
  lots
• 14:07
  of
• 14:07
  people
• 14:07
  in
• 14:08
  the
• 14:08
  audience
• 14:08
  suddenly
• 14:08
  felt
• 14:08
  like,
• 14:08
  oh,
• 14:09
  maybe
• 14:09
  we're
• 14:09
  not
• 14:09
  as
• 14:09
  behind
• 14:10
  as
• 14:10
  we
• 14:10
  think
• 14:10
  we
• 14:11
  are,
• 14:11
  because
• 14:11
  everybody
• 14:11
  is
• 14:12
  at
• 14:12
  the
• 14:12
  very
• 14:12
  start
• 14:13
  of
• 14:13
  what's
• 14:13
  going
• 14:13
  to
• 14:13
  be
• 14:13
  a
• 14:13
  very
• 14:13
  long,
• 14:14
  transformational
• 14:15
  journey.
• 14:15
  Yeah,
• 14:16
  yeah,
• 14:16
  you
• 14:16
  got
• 14:17
  swagger,
• 14:17
  Joe.
• 14:17
  You're
• 14:17
  inventing
• 14:18
  terms
• 14:18
  like
• 14:19
  the
• 14:20
  whole
• 14:20
  nine
• 14:20
  yards.
• 14:21
  Renaissance
• 14:22
  man
• 14:22
  over
• 14:22
  There.
• 14:22
  All
• 14:22
  right,
• 14:22
  Ben,
• 14:23
  what
• 14:23
  do
• 14:23
  you
• 14:23
  think?
• 14:24
  I
• 14:25
  think
• 14:25
  it's
• 14:25
  really.
• 14:25
  I
• 14:26
  think
• 14:26
  last
• 14:26
  year
• 14:28
  people
• 14:28
  knew
• 14:29
  that
• 14:29
  they
• 14:29
  needed
• 14:29
  to
• 14:30
  talk
• 14:30
  about
• 14:30
  AI
• 14:31
  because
• 14:31
  they
• 14:31
  knew
• 14:31
  something
• 14:32
  was
• 14:32
  coming.
• 14:32
  But
• 14:33
  the
• 14:33
  frustrating
• 14:33
  thing
• 14:34
  was
• 14:34
  that
• 14:34
  most
• 14:34
  people
• 14:34
  didn't
• 14:35
  really
• 14:35
  have
• 14:35
  anything
• 14:35
  worthwhile
• 14:36
  to
• 14:36
  say.
• 14:38
  So
• 14:38
  you
• 14:38
  would.
• 14:39
  You
• 14:39
  would
• 14:39
  have
• 14:39
  people
• 14:39
  almost
• 14:40
  kind
• 14:40
  of
• 14:40
  the
• 14:41
  number
• 14:41
  of
• 14:41
  times
• 14:41
  people
• 14:41
  would
• 14:42
  make
• 14:42
  a
• 14:42
  joke
• 14:42
  of,
• 14:42
  well,
• 14:43
  I
• 14:43
  can't
• 14:43
  do
• 14:43
  a
• 14:43
  presentation
• 14:44
  without
• 14:44
  saying
• 14:44
  AI.
• 14:45
  And
• 14:45
  you'd
• 14:45
  roll
• 14:46
  your
• 14:46
  eyes
• 14:46
  because
• 14:46
  that's
• 14:46
  the
• 14:47
  fourth
• 14:47
  time
• 14:47
  you'd
• 14:47
  heard
• 14:47
  that
• 14:47
  joke
• 14:48
  today.
• 14:48
  And
• 14:49
  then
• 14:49
  the
• 14:49
  feedback
• 14:49
  that
• 14:50
  we
• 14:50
  would
• 14:50
  get
• 14:50
  is
• 14:50
  you
• 14:50
  had
• 14:50
  too
• 14:51
  much
• 14:51
  AI
• 14:51
  AI
• 14:51
  fatigue.
• 14:54
  The
• 14:54
  show,
• 14:54
  completely
• 14:55
  different
• 14:55
  this
• 14:55
  year
• 14:56
  because
• 14:56
  there
• 14:56
  isn't
• 14:57
  that
• 14:57
  element
• 14:57
  of
• 14:57
  AI
• 14:58
  fatigue.
• 14:58
  There's
• 14:59
  an
• 14:59
  element
• 14:59
  of.
• 15:00
  It
• 15:00
  is
• 15:00
  real,
• 15:00
  it
• 15:01
  is
• 15:01
  happening.
• 15:02
  We
• 15:02
  need
• 15:02
  to
• 15:02
  invest,
• 15:02
  but
• 15:03
  we
• 15:03
  can't
• 15:03
  decide
• 15:03
  how.
• 15:04
  We
• 15:04
  know
• 15:04
  what
• 15:05
  it
• 15:05
  is
• 15:05
  we
• 15:05
  want
• 15:05
  to
• 15:06
  learn,
• 15:06
  we
• 15:06
  want
• 15:06
  to
• 15:06
  hear.
• 15:07
  It's
• 15:07
  not
• 15:08
  a
• 15:08
  joking
• 15:08
  matter.
• 15:09
  It's
• 15:09
  something
• 15:09
  that's
• 15:09
  real
• 15:09
  and
• 15:10
  we're
• 15:10
  trying
• 15:10
  to
• 15:10
  figure
• 15:10
  it
• 15:10
  out.
• 15:11
  And
• 15:11
  that's
• 15:11
  a
• 15:11
  massive
• 15:12
  change
• 15:12
  from
• 15:12
  a
• 15:13
  year
• 15:13
  ago
• 15:13
  and
• 15:13
  a
• 15:14
  change
• 15:14
  for
• 15:14
  the
• 15:14
  better.
• 15:14
  And
• 15:15
  I
• 15:15
  really
• 15:16
  hope
• 15:16
  we've
• 15:16
  been
• 15:16
  able
• 15:16
  to
• 15:16
  capture
• 15:17
  the
• 15:17
  spirit
• 15:17
  of
• 15:17
  trying
• 15:18
  to
• 15:18
  help
• 15:18
  navigate
• 15:19
  what
• 15:19
  is
• 15:20
  really
• 15:20
  quick
• 15:20
  changing
• 15:20
  environment
• 15:21
  rather
• 15:21
  than
• 15:22
  talk
• 15:22
  about
• 15:22
  what
• 15:22
  could
• 15:23
  happen,
• 15:23
  but
• 15:23
  there's
• 15:24
  not
• 15:24
  much
• 15:24
  evidence
• 15:24
  behind
• 15:25
  it.
• 15:25
  Yeah,
• 15:25
  that's
• 15:25
  a
• 15:25
  great
• 15:26
  point,
• 15:26
  too.
• 15:26
  You
• 15:26
  can't.
• 15:27
  Can't
• 15:27
  be
• 15:27
  tired
• 15:27
  of
• 15:27
  it
• 15:27
  because
• 15:28
  it's
• 15:28
  here
• 15:28
  to
• 15:28
  stay.
• 15:28
  You
• 15:28
  know,
• 15:29
  it's
• 15:29
  going
• 15:29
  to
• 15:29
  be
• 15:29
  that
• 15:29
  impactful.
• 15:30
  All
• 15:30
  right,
• 15:31
  let's
• 15:31
  shift
• 15:31
  gears
• 15:32
  away
• 15:32
  from
• 15:32
  AI
• 15:32
  for
• 15:33
  a
• 15:33
  second.
• 15:33
  All
• 15:33
  right,
• 15:34
  so,
• 15:35
  Joe,
• 15:35
  I'm
• 15:35
  going
• 15:35
  to
• 15:35
  go
• 15:35
  to
• 15:35
  you
• 15:36
  on
• 15:36
  this
• 15:36
  one.
• 15:37
  What
• 15:37
  is
• 15:37
  the
• 15:37
  most
• 15:38
  impact?
• 15:38
  What
• 15:38
  do
• 15:39
  you
• 15:39
  think,
• 15:39
  in
• 15:39
  your
• 15:39
  mind
• 15:39
  was
• 15:39
  the
• 15:39
  most
• 15:40
  impactful
• 15:40
  topic
• 15:41
  or
• 15:41
  trend
• 15:41
  at
• 15:41
  the
• 15:42
  conference
• 15:42
  that
• 15:42
  you
• 15:43
  heard
• 15:44
  about
• 15:44
  that
• 15:44
  isn't
• 15:45
  AI?
• 15:46
  Yeah,
• 15:46
  it
• 15:47
  was
• 15:47
  part
• 15:47
  of
• 15:47
  the
• 15:47
  design
• 15:48
  of
• 15:48
  the
• 15:48
  agenda,
• 15:48
  that
• 15:48
  it
• 15:49
  was
• 15:49
  important
• 15:49
  to
• 15:50
  us
• 15:50
  that
• 15:51
  amidst
• 15:51
  all
• 15:52
  of
• 15:52
  the
• 15:52
  talk
• 15:52
  of
• 15:52
  technology
• 15:53
  change
• 15:53
  that
• 15:54
  was
• 15:54
  so
• 15:54
  much
• 15:55
  a
• 15:55
  part
• 15:55
  of
• 15:55
  the
• 15:55
  conversation
• 15:55
  that
• 15:56
  we
• 15:56
  also
• 15:56
  kind
• 15:56
  of
• 15:56
  talked
• 15:56
  about
• 15:57
  keeping
• 15:58
  retail
• 15:58
  human.
• 15:59
  And
• 15:59
  I
• 15:59
  think
• 16:00
  that
• 16:00
  came
• 16:00
  up
• 16:00
  time
• 16:01
  and
• 16:01
  again
• 16:01
  across
• 16:02
  every
• 16:02
  stage
• 16:02
  at
• 16:03
  the
• 16:03
  show.
• 16:05
  The
• 16:05
  idea
• 16:05
  of.
• 16:06
  I'm
• 16:06
  trying
• 16:06
  to
• 16:06
  kind
• 16:07
  of
• 16:07
  come
• 16:07
  up
• 16:07
  with
• 16:07
  one
• 16:08
  word
• 16:08
  to
• 16:09
  describe
• 16:09
  it,
• 16:09
  but
• 16:09
  whether
• 16:10
  it's
• 16:10
  trust
• 16:10
  or
• 16:11
  honesty,
• 16:11
  like,
• 16:11
  who
• 16:12
  do
• 16:12
  you
• 16:12
  trust
• 16:12
  in
• 16:13
  the
• 16:13
  age
• 16:13
  of
• 16:13
  AI?
• 16:14
  Where
• 16:14
  are
• 16:14
  people
• 16:15
  turning
• 16:15
  to
• 16:15
  kind
• 16:15
  of
• 16:15
  feel
• 16:16
  an
• 16:16
  authentic
• 16:16
  connection?
• 16:17
  And
• 16:17
  I
• 16:17
  don't.
• 16:17
  I
• 16:17
  don't
• 16:17
  want
• 16:18
  to
• 16:18
  downplay
• 16:18
  the
• 16:18
  fact
• 16:18
  that
• 16:18
  for
• 16:19
  some
• 16:19
  human
• 16:19
  beings,
• 16:19
  like.
• 16:20
  Like
• 16:20
  the
• 16:20
  chatbots
• 16:20
  actually
• 16:21
  are
• 16:21
  a
• 16:21
  source
• 16:21
  of
• 16:22
  emotional
• 16:23
  support
• 16:24
  or
• 16:25
  advice
• 16:26
  that
• 16:26
  they
• 16:26
  follow.
• 16:26
  But.
• 16:26
  But
• 16:27
  I
• 16:27
  think
• 16:27
  keeping
• 16:27
  retail
• 16:28
  human
• 16:28
  is
• 16:29
  the
• 16:29
  non
• 16:29
  AI
• 16:29
  thing,
• 16:30
  and
• 16:30
  it's
• 16:30
  maybe
• 16:30
  the
• 16:30
  Anti.
• 16:31
  It's
• 16:31
  not
• 16:31
  anti
• 16:32
  AI,
• 16:32
  but
• 16:32
  it's
• 16:32
  the
• 16:32
  non
• 16:32
  AI
• 16:33
  thing
• 16:33
  that
• 16:33
  again,
• 16:34
  we
• 16:34
  kind
• 16:34
  of
• 16:34
  programmed
• 16:34
  it
• 16:35
  into
• 16:35
  the
• 16:35
  show.
• 16:35
  But
• 16:35
  whether
• 16:35
  it's,
• 16:36
  you
• 16:36
  know,
• 16:36
  the
• 16:36
  Dutch
• 16:37
  Bros
• 16:37
  conversation
• 16:38
  and
• 16:38
  I
• 16:39
  think
• 16:39
  one
• 16:39
  of
• 16:39
  my
• 16:39
  quotes
• 16:39
  of
• 16:39
  the
• 16:40
  show
• 16:40
  is
• 16:40
  Christine
• 16:41
  Barone,
• 16:41
  the
• 16:41
  CEO
• 16:41
  of
• 16:41
  Dutch
• 16:41
  Bro,
• 16:42
  saying
• 16:42
  we,
• 16:42
  we
• 16:42
  sell,
• 16:43
  we
• 16:43
  sell
• 16:43
  emotion,
• 16:44
  not
• 16:44
  coffee.
• 16:45
  Kind
• 16:45
  of
• 16:45
  just
• 16:46
  making
• 16:46
  somebody
• 16:46
  smile
• 16:47
  when
• 16:47
  they
• 16:47
  pick
• 16:47
  up
• 16:47
  their
• 16:47
  $6.
• 16:48
  Highly
• 16:48
  colorful,
• 16:49
  highly
• 16:49
  caffeinated
• 16:49
  beverage
• 16:50
  is
• 16:50
  important
• 16:50
  to
• 16:51
  them.
• 16:51
  As
• 16:51
  the,
• 16:51
  the
• 16:51
  sale
• 16:52
  itself
• 16:53
  to
• 16:55
  Steve
• 16:55
  Huffman
• 16:56
  from
• 16:56
  Reddit,
• 16:56
  kind
• 16:56
  of
• 16:57
  talking
• 16:57
  about
• 16:57
  like
• 16:57
  in
• 16:58
  his
• 16:58
  view,
• 16:58
  kind
• 16:58
  of
• 16:59
  we
• 16:59
  want
• 16:59
  human
• 16:59
  advice
• 17:00
  on
• 17:00
  our
• 17:00
  purchase
• 17:01
  decisions
• 17:01
  more
• 17:01
  so
• 17:01
  than
• 17:02
  we
• 17:02
  trust
• 17:02
  the
• 17:03
  bots,
• 17:03
  at
• 17:03
  least
• 17:04
  at
• 17:04
  this
• 17:04
  point.
• 17:05
  So,
• 17:05
  so
• 17:05
  trust,
• 17:05
  I
• 17:06
  think
• 17:06
  is
• 17:06
  trusted.
• 17:06
  Honesty
• 17:07
  are
• 17:07
  the
• 17:07
  two
• 17:07
  words
• 17:08
  I'd
• 17:08
  say
• 17:08
  were
• 17:08
  the
• 17:08
  most
• 17:08
  important
• 17:09
  non
• 17:09
  AI
• 17:09
  things.
• 17:09
  Yeah.
• 17:10
  And
• 17:10
  Joe,
• 17:10
  for
• 17:10
  those
• 17:11
  in
• 17:11
  the
• 17:11
  audience
• 17:11
  and
• 17:11
  those
• 17:11
  listening
• 17:12
  back
• 17:12
  home,
• 17:12
  Joe,
• 17:12
  you
• 17:12
  also
• 17:12
  led
• 17:13
  a
• 17:13
  debate
• 17:13
  around
• 17:14
  this
• 17:14
  topic.
• 17:15
  Like
• 17:15
  how
• 17:15
  would
• 17:15
  you,
• 17:16
  you
• 17:16
  know,
• 17:16
  how
• 17:16
  would
• 17:16
  you
• 17:17
  sum
• 17:17
  up
• 17:18
  the
• 17:18
  mood
• 17:18
  in
• 17:18
  the
• 17:18
  room
• 17:19
  around
• 17:19
  that
• 17:19
  debate?
• 17:19
  The
• 17:20
  debate
• 17:20
  being
• 17:20
  like,
• 17:21
  how
• 17:21
  much
• 17:21
  of
• 17:21
  our
• 17:22
  content
• 17:22
  and
• 17:23
  brand
• 17:23
  should
• 17:23
  be
• 17:24
  AI
• 17:24
  generated?
• 17:25
  Like
• 17:25
  how
• 17:25
  some
• 17:25
  of.
• 17:26
  We
• 17:26
  curated
• 17:26
  a
• 17:27
  debate
• 17:27
  yesterday
• 17:27
  on
• 17:28
  this
• 17:28
  stage
• 17:28
  and
• 17:28
  the
• 17:29
  theme
• 17:29
  of
• 17:29
  the
• 17:29
  debate
• 17:29
  was
• 17:30
  your
• 17:30
  next
• 17:30
  brand
• 17:30
  ambassador
• 17:31
  will
• 17:31
  be
• 17:31
  AI.
• 17:32
  And
• 17:32
  one
• 17:32
  of
• 17:33
  the
• 17:33
  three
• 17:33
  things
• 17:33
  that
• 17:33
  the
• 17:34
  panel
• 17:34
  of
• 17:34
  debaters
• 17:35
  kind
• 17:35
  of
• 17:36
  discussed,
• 17:36
  debated
• 17:37
  was
• 17:38
  the
• 17:38
  LLMs
• 17:39
  are
• 17:39
  already
• 17:39
  your
• 17:39
  most
• 17:40
  important
• 17:40
  brand
• 17:40
  ambassador.
• 17:41
  You're
• 17:41
  just
• 17:41
  not
• 17:41
  treating
• 17:41
  them
• 17:42
  that
• 17:42
  way.
• 17:42
  But
• 17:43
  we
• 17:43
  did
• 17:43
  some
• 17:43
  audience
• 17:44
  polling
• 17:44
  to
• 17:44
  kick
• 17:44
  that
• 17:44
  off.
• 17:45
  We
• 17:45
  asked
• 17:45
  people
• 17:45
  their
• 17:45
  sentiment
• 17:46
  on
• 17:46
  that
• 17:46
  and
• 17:46
  the
• 17:47
  negativity
• 17:48
  towards
• 17:48
  AI,
• 17:48
  you
• 17:49
  know,
• 17:49
  kind
• 17:49
  of
• 17:49
  that
• 17:49
  like
• 17:50
  people,
• 17:50
  people
• 17:50
  in
• 17:50
  the
• 17:50
  audience
• 17:51
  did
• 17:51
  not
• 17:51
  think,
• 17:51
  you
• 17:52
  know,
• 17:52
  AI
• 17:52
  influencers
• 17:53
  were
• 17:53
  going
• 17:53
  to
• 17:53
  be
• 17:53
  super
• 17:53
  important
• 17:54
  in
• 17:54
  the
• 17:54
  next
• 17:54
  couple
• 17:54
  of
• 17:54
  years.
• 17:55
  They
• 17:55
  did
• 17:55
  not
• 17:55
  think
• 17:56
  that
• 17:56
  we're
• 17:56
  not
• 17:56
  going
• 17:56
  to
• 17:57
  be
• 17:57
  able
• 17:57
  to
• 17:57
  tell
• 17:57
  the
• 17:57
  difference
• 17:57
  between
• 17:58
  AI
• 17:58
  generated
• 17:58
  content
• 17:59
  design
• 17:59
  and
• 17:59
  human
• 17:59
  generated
• 18:00
  content
• 18:00
  in
• 18:00
  two
• 18:00
  years.
• 18:00
  And
• 18:01
  I
• 18:01
  think
• 18:01
  the
• 18:01
  audience
• 18:02
  may
• 18:02
  be
• 18:02
  a
• 18:02
  little
• 18:02
  optimistic
• 18:02
  about
• 18:03
  some
• 18:03
  of
• 18:03
  that.
• 18:03
  But,
• 18:03
  but
• 18:03
  there
• 18:04
  is
• 18:04
  still
• 18:04
  this,
• 18:04
  this
• 18:05
  sentiment
• 18:05
  that,
• 18:06
  that
• 18:06
  the
• 18:06
  human
• 18:07
  is
• 18:08
  more
• 18:08
  important
• 18:08
  or
• 18:08
  is
• 18:09
  more
• 18:09
  valued
• 18:09
  perhaps
• 18:10
  than,
• 18:10
  than
• 18:10
  than
• 18:11
  the
• 18:11
  AI
• 18:11
  for
• 18:11
  certain
• 18:12
  kinds
• 18:12
  of
• 18:12
  connection.
• 18:12
  I
• 18:13
  feel
• 18:13
  like
• 18:13
  the
• 18:13
  Godfather.
• 18:13
  Even
• 18:14
  though
• 18:14
  I
• 18:14
  try
• 18:14
  to
• 18:14
  get
• 18:14
  away
• 18:14
  from
• 18:15
  AI,
• 18:15
  it
• 18:15
  pulls
• 18:15
  me
• 18:16
  back
• 18:16
  in.
• 18:17
  Sarah,
• 18:18
  what
• 18:18
  was,
• 18:18
  what
• 18:19
  was
• 18:19
  the
• 18:19
  topic
• 18:19
  or
• 18:20
  trend
• 18:20
  that
• 18:20
  you
• 18:20
  saw
• 18:21
  outside
• 18:22
  of
• 18:22
  AI
• 18:22
  for
• 18:22
  you?
• 18:23
  Yeah,
• 18:23
  I
• 18:23
  mean,
• 18:23
  I
• 18:23
  think
• 18:23
  the
• 18:23
  biggest,
• 18:25
  you
• 18:25
  know,
• 18:25
  it
• 18:25
  was
• 18:26
  like
• 18:26
  a
• 18:26
  loud
• 18:26
  minority
• 18:27
  talking
• 18:28
  about
• 18:28
  actual
• 18:28
  customer
• 18:29
  interactions.
• 18:29
  And
• 18:30
  what
• 18:30
  does
• 18:30
  that
• 18:30
  mean?
• 18:31
  And
• 18:31
  if
• 18:31
  we
• 18:31
  are
• 18:31
  all
• 18:32
  so
• 18:32
  focused
• 18:32
  on
• 18:33
  AI
• 18:33
  and
• 18:33
  every
• 18:33
  single
• 18:34
  employee
• 18:34
  has
• 18:34
  to
• 18:34
  be
• 18:35
  getting
• 18:35
  up
• 18:35
  to
• 18:35
  speed
• 18:36
  and
• 18:36
  how
• 18:36
  are
• 18:36
  we
• 18:36
  going
• 18:36
  to
• 18:36
  retrain
• 18:37
  people?
• 18:37
  And
• 18:37
  like,
• 18:37
  it's
• 18:37
  so
• 18:38
  AI
• 18:38
  focused
• 18:39
  that
• 18:39
  like,
• 18:39
  it
• 18:39
  all
• 18:40
  of
• 18:40
  a
• 18:40
  sudden
• 18:40
  seemed
• 18:40
  really
• 18:40
  revolutionary
• 18:41
  to
• 18:41
  be
• 18:41
  like
• 18:42
  you
• 18:42
  should
• 18:42
  go
• 18:42
  to
• 18:42
  the
• 18:43
  stores
• 18:43
  and
• 18:43
  have
• 18:43
  a
• 18:43
  conversation
• 18:44
  like
• 18:44
  why
• 18:44
  don't
• 18:45
  you
• 18:45
  work,
• 18:45
  you
• 18:45
  know,
• 18:45
  work
• 18:46
  the
• 18:46
  store
• 18:46
  on
• 18:46
  Black
• 18:46
  Friday,
• 18:47
  like
• 18:47
  for
• 18:48
  the
• 18:48
  corporate
• 18:48
  team,
• 18:48
  those
• 18:49
  types
• 18:49
  of
• 18:49
  things.
• 18:49
  I
• 18:49
  think
• 18:49
  Dutch
• 18:50
  Bros.
• 18:50
  Was
• 18:50
  a
• 18:50
  great
• 18:51
  example
• 18:51
  of
• 18:51
  like
• 18:52
  great
• 18:52
  get
• 18:52
  everybody
• 18:53
  empowered
• 18:53
  to
• 18:53
  make
• 18:54
  amazing
• 18:54
  experiences.
• 18:55
  The
• 18:56
  like
• 18:56
  unreasonable
• 18:56
  hospitality
• 18:57
  moments
• 18:58
  in
• 18:58
  a
• 18:58
  coffee
• 18:59
  company,
• 18:59
  not
• 19:00
  in
• 19:00
  a
• 19:00
  luxury
• 19:00
  brand.
• 19:01
  Like
• 19:01
  those
• 19:01
  types
• 19:01
  of
• 19:02
  moments
• 19:02
  all
• 19:02
  of
• 19:02
  a
• 19:02
  sudden
• 19:02
  seemed
• 19:03
  revolutionary.
• 19:03
  And
• 19:03
  the
• 19:03
  reality
• 19:04
  is
• 19:04
  like
• 19:04
  that
• 19:04
  is
• 19:05
  the
• 19:05
  basis
• 19:05
  of
• 19:06
  what
• 19:06
  we
• 19:06
  all
• 19:06
  started
• 19:06
  retail
• 19:07
  to
• 19:07
  begin
• 19:07
  with.
• 19:08
  Like
• 19:08
  what
• 19:08
  we
• 19:08
  wanted
• 19:08
  to
• 19:09
  do
• 19:09
  was
• 19:09
  customer
• 19:09
  connection.
• 19:10
  So
• 19:10
  it
• 19:11
  is
• 19:11
  kind
• 19:11
  of
• 19:11
  interesting
• 19:11
  to
• 19:12
  me
• 19:12
  that
• 19:12
  that
• 19:12
  is
• 19:12
  an
• 19:13
  outlier
• 19:13
  topic.
• 19:14
  But
• 19:14
  I
• 19:14
  think
• 19:14
  it
• 19:14
  was
• 19:15
  a
• 19:15
  really
• 19:15
  loud
• 19:15
  vocal
• 19:16
  minority.
• 19:16
  Yeah.
• 19:17
  We
• 19:17
  did
• 19:17
  a
• 19:17
  session
• 19:18
  titled
• 19:18
  Stores
• 19:19
  as
• 19:19
  venues
• 19:19
  for
• 19:19
  Connection
• 19:20
  featuring
• 19:21
  Target
• 19:22
  Simon
• 19:23
  Property
• 19:23
  Group
• 19:23
  and
• 19:24
  Glossier.
• 19:24
  Glossier,
• 19:25
  the
• 19:25
  startup
• 19:26
  or
• 19:27
  formerly
• 19:27
  D2C.
• 19:28
  Now
• 19:28
  they've
• 19:28
  got
• 19:28
  some
• 19:28
  brick
• 19:29
  and
• 19:29
  mortar
• 19:29
  stores,
• 19:30
  beauty
• 19:30
  brand
• 19:30
  and
• 19:31
  Glossier
• 19:31
  actually
• 19:32
  designs
• 19:32
  their
• 19:32
  stores
• 19:33
  not
• 19:33
  just
• 19:33
  to
• 19:33
  facilitate
• 19:34
  interactions
• 19:34
  between
• 19:35
  the
• 19:35
  store
• 19:35
  associates
• 19:36
  and
• 19:36
  customers,
• 19:37
  but
• 19:37
  also
• 19:37
  between
• 19:38
  customers
• 19:38
  themselves.
• 19:39
  They
• 19:39
  have
• 19:39
  some
• 19:39
  like
• 19:39
  try
• 19:39
  on
• 19:39
  tables
• 19:40
  that
• 19:40
  don't
• 19:41
  have
• 19:41
  mirrors
• 19:41
  so
• 19:42
  that
• 19:42
  you
• 19:42
  try
• 19:42
  something
• 19:42
  on.
• 19:43
  Then
• 19:43
  you
• 19:43
  turn
• 19:43
  to
• 19:43
  the
• 19:43
  stranger
• 19:43
  next
• 19:44
  to
• 19:44
  you
• 19:44
  and
• 19:44
  say,
• 19:44
  how
• 19:44
  does
• 19:44
  this
• 19:44
  look?
• 19:45
  Look?
• 19:45
  And
• 19:45
  they.
• 19:46
  It's
• 19:46
  a
• 19:46
  very
• 19:46
  clever,
• 19:47
  very
• 19:47
  subtle
• 19:48
  design
• 19:48
  choice
• 19:48
  in
• 19:49
  the
• 19:49
  physical
• 19:49
  store
• 19:50
  to
• 19:50
  kind
• 19:50
  of
• 19:50
  encourage
• 19:51
  that
• 19:51
  kind
• 19:51
  of
• 19:51
  interaction
• 19:52
  because
• 19:52
  I
• 19:53
  don't
• 19:53
  know,
• 19:53
  we
• 19:53
  keep
• 19:53
  hearing
• 19:54
  the
• 19:54
  stats
• 19:54
  about
• 19:54
  how
• 19:54
  gen
• 19:54
  zers
• 19:55
  like
• 19:55
  to
• 19:55
  go
• 19:55
  to
• 19:56
  malls
• 19:56
  again.
• 19:56
  And
• 19:57
  I
• 19:57
  think
• 19:57
  one
• 19:58
  of
• 19:58
  the
• 19:58
  reasons
• 19:58
  is
• 19:58
  because
• 19:59
  people
• 19:59
  are
• 20:00
  craving
• 20:00
  that
• 20:00
  connection,
• 20:01
  even
• 20:01
  if
• 20:01
  it's
• 20:01
  with
• 20:01
  a
• 20:01
  stranger,
• 20:02
  even
• 20:02
  it's
• 20:02
  for
• 20:02
  two
• 20:02
  minutes
• 20:03
  to
• 20:03
  say,
• 20:03
  hey,
• 20:03
  you
• 20:03
  look
• 20:03
  great.
• 20:03
  That's
• 20:04
  a
• 20:04
  good
• 20:04
  color
• 20:04
  on
• 20:04
  you.
• 20:04
  Like
• 20:05
  that
• 20:05
  People
• 20:06
  want
• 20:06
  that.
• 20:06
  Yeah.
• 20:07
  Retail
• 20:07
  is
• 20:07
  inherently
• 20:07
  a
• 20:08
  social
• 20:08
  experience.
• 20:08
  It's
• 20:09
  one
• 20:09
  of
• 20:09
  the
• 20:09
  five
• 20:09
  reasons
• 20:10
  you
• 20:10
  go
• 20:10
  to
• 20:10
  a
• 20:10
  store.
• 20:11
  Right.
• 20:11
  Ben,
• 20:11
  what
• 20:11
  do
• 20:12
  you
• 20:12
  think?
• 20:13
  I
• 20:13
  was
• 20:13
  going
• 20:13
  to
• 20:13
  talk
• 20:13
  about
• 20:13
  authenticity
• 20:14
  as
• 20:15
  well.
• 20:15
  Authenticity
• 20:16
  creators.
• 20:17
  But
• 20:17
  I'm
• 20:17
  not
• 20:17
  going
• 20:17
  to
• 20:17
  because
• 20:18
  I
• 20:18
  just
• 20:18
  want
• 20:19
  to
• 20:19
  briefly
• 20:19
  and
• 20:19
  I
• 20:19
  know
• 20:19
  you
• 20:20
  want
• 20:20
  to
• 20:20
  move
• 20:20
  us
• 20:20
  on.
• 20:21
  Talk
• 20:21
  about
• 20:21
  my
• 20:21
  favorite
• 20:22
  moment
• 20:22
  of
• 20:22
  the
• 20:22
  show.
• 20:23
  Okay.
• 20:23
  My
• 20:23
  favorite
• 20:24
  moment
• 20:24
  of
• 20:24
  the
• 20:24
  show
• 20:24
  was
• 20:25
  for
• 20:25
  those
• 20:25
  of
• 20:25
  you
• 20:25
  who
• 20:26
  were
• 20:26
  into
• 20:26
  the
• 20:28
  YouTube
• 20:28
  and
• 20:29
  Jessica
• 20:29
  Albert
• 20:29
  honors
• 20:30
  company
• 20:30
  Kino
• 20:31
  today.
• 20:32
  The
• 20:32
  moment
• 20:32
  that
• 20:32
  Jessica
• 20:33
  went
• 20:33
  completely
• 20:34
  off
• 20:34
  script
• 20:35
  and
• 20:36
  started
• 20:36
  to
• 20:36
  challenge
• 20:37
  YouTube
• 20:37
  on
• 20:38
  Do
• 20:38
  you
• 20:38
  understand
• 20:38
  the
• 20:39
  supply
• 20:39
  chain
• 20:39
  implications
• 20:41
  of
• 20:41
  creator
• 20:42
  led
• 20:42
  demand
• 20:43
  creation?
• 20:44
  So
• 20:44
  Jessica
• 20:45
  Albert
• 20:45
  and
• 20:45
  demand
• 20:46
  planning
• 20:46
  was
• 20:46
  not
• 20:46
  on
• 20:47
  my
• 20:47
  bingo
• 20:47
  card
• 20:48
  for
• 20:48
  this
• 20:48
  show.
• 20:49
  We
• 20:49
  had
• 20:51
  a
• 20:51
  panel
• 20:52
  next
• 20:52
  show.
• 20:52
  I
• 20:52
  mean
• 20:53
  we
• 20:53
  had
• 20:53
  Victoria
• 20:54
  supply
• 20:54
  chains.
• 20:54
  Yeah,
• 20:55
  Victoria's
• 20:55
  secrets
• 20:55
  yesterday
• 20:56
  bring
• 20:56
  back
• 20:56
  sexy.
• 20:57
  I
• 20:57
  was
• 20:57
  like,
• 20:58
  let's
• 20:58
  make
• 20:58
  supply
• 20:58
  chain
• 20:59
  sexy.
• 20:59
  That's
• 20:59
  a
• 21:00
  campaign
• 21:00
  I'm
• 21:00
  going
• 21:00
  to
• 21:00
  get
• 21:00
  behind.
• 21:01
  And
• 21:02
  you
• 21:02
  know,
• 21:02
  look
• 21:03
  in
• 21:03
  all
• 21:03
  seriousness,
• 21:04
  demand
• 21:04
  planning
• 21:05
  into
• 21:05
  demand
• 21:05
  Sensing,
• 21:06
  managing
• 21:06
  through
• 21:06
  uncertainty,
• 21:07
  managing
• 21:07
  through
• 21:08
  risk,
• 21:09
  ranging
• 21:09
  from
• 21:09
  macroeconomic
• 21:10
  turmoil,
• 21:10
  which
• 21:11
  we're
• 21:11
  in
• 21:11
  yet
• 21:11
  again,
• 21:13
  super
• 21:13
  important
• 21:14
  and
• 21:14
  something
• 21:14
  we
• 21:15
  need
• 21:15
  to
• 21:15
  lean
• 21:15
  even
• 21:15
  more
• 21:15
  into.
• 21:16
  Yeah.
• 21:17
  All
• 21:17
  right,
• 21:17
  I'm
• 21:17
  going
• 21:17
  to
• 21:18
  do
• 21:18
  the
• 21:18
  moderator
• 21:18
  trick
• 21:18
  here
• 21:19
  where
• 21:19
  I'm
• 21:19
  going
• 21:19
  to
• 21:19
  bridge
• 21:19
  into
• 21:20
  the
• 21:20
  next
• 21:20
  one
• 21:20
  by
• 21:21
  giving
• 21:21
  my
• 21:21
  answer
• 21:21
  to
• 21:21
  that
• 21:22
  question,
• 21:22
  but
• 21:22
  also
• 21:22
  bridging
• 21:23
  into
• 21:23
  the
• 21:23
  next
• 21:23
  one.
• 21:23
  So
• 21:23
  for
• 21:23
  me,
• 21:24
  the
• 21:24
  topic
• 21:25
  that
• 21:25
  was
• 21:25
  an
• 21:25
  AI
• 21:26
  that
• 21:26
  I
• 21:26
  still
• 21:26
  think
• 21:26
  is
• 21:26
  impactful
• 21:27
  and
• 21:27
  probably
• 21:27
  isn't
• 21:27
  getting
• 21:28
  discussed
• 21:28
  enough
• 21:28
  is
• 21:28
  marketplaces.
• 21:30
  And
• 21:30
  the
• 21:30
  reason
• 21:30
  I
• 21:30
  say
• 21:31
  that,
• 21:31
  so
• 21:31
  the
• 21:31
  next
• 21:31
  question
• 21:31
  I'm
• 21:31
  going
• 21:32
  to
• 21:32
  ask
• 21:32
  these
• 21:32
  guys
• 21:32
  is
• 21:32
  what
• 21:33
  was
• 21:33
  the
• 21:33
  stat
• 21:33
  of
• 21:34
  the
• 21:34
  show?
• 21:34
  And
• 21:35
  for
• 21:35
  me,
• 21:35
  and
• 21:35
  I
• 21:35
  don't
• 21:35
  remember,
• 21:36
  it
• 21:36
  wasn't
• 21:36
  for
• 21:36
  me,
• 21:36
  it
• 21:36
  wasn't
• 21:36
  an
• 21:37
  exact
• 21:37
  stat.
• 21:37
  But
• 21:37
  I
• 21:37
  heard
• 21:38
  this
• 21:38
  great
• 21:39
  presentation
• 21:39
  on
• 21:40
  the
• 21:40
  state
• 21:40
  of
• 21:41
  E
• 21:41
  commerce
• 21:41
  retail
• 21:41
  from
• 21:42
  the
• 21:42
  former
• 21:42
  founder
• 21:42
  of
• 21:43
  Statista,
• 21:44
  and
• 21:44
  he
• 21:44
  basically
• 21:45
  said,
• 21:45
  like,
• 21:45
  when
• 21:46
  you
• 21:46
  look
• 21:46
  at
• 21:46
  E
• 21:47
  commerce,
• 21:47
  E
• 21:47
  commerce
• 21:48
  is
• 21:48
  marketplace.
• 21:49
  It's
• 21:49
  where
• 21:49
  all
• 21:49
  the
• 21:49
  volume
• 21:50
  is
• 21:50
  and
• 21:50
  it's
• 21:50
  where
• 21:50
  all
• 21:50
  the
• 21:51
  growth
• 21:51
  is
• 21:51
  happening.
• 21:52
  And
• 21:52
  that
• 21:52
  presentation
• 21:53
  really
• 21:53
  hit
• 21:54
  me
• 21:55
  very
• 21:55
  clearly
• 21:55
  in
• 21:56
  the
• 21:56
  mouth
• 21:56
  in
• 21:56
  terms
• 21:56
  of
• 21:56
  like,
• 21:56
  wow,
• 21:57
  yeah,
• 21:57
  he's
• 21:57
  right.
• 21:57
  That
• 21:58
  is
• 21:58
  what
• 21:58
  it
• 21:58
  is.
• 21:58
  And
• 21:59
  the
• 21:59
  other
• 21:59
  thing
• 21:59
  too
• 21:59
  is
• 22:00
  the
• 22:00
  list
• 22:00
  of
• 22:00
  who's
• 22:01
  winning
• 22:01
  in
• 22:01
  that
• 22:01
  space.
• 22:02
  Like
• 22:02
  the
• 22:02
  top
• 22:02
  10
• 22:02
  marketplaces.
• 22:03
  It's
• 22:03
  not
• 22:04
  changing
• 22:04
  either.
• 22:05
  It's
• 22:05
  not
• 22:05
  changing
• 22:05
  to
• 22:06
  the
• 22:06
  same
• 22:06
  degree
• 22:06
  as
• 22:07
  physical
• 22:07
  retail
• 22:08
  leadership
• 22:09
  is
• 22:09
  changing
• 22:09
  over
• 22:09
  that
• 22:10
  same
• 22:10
  time
• 22:10
  horizon.
• 22:10
  So
• 22:11
  that
• 22:11
  was
• 22:11
  my
• 22:11
  stat
• 22:12
  of
• 22:12
  the
• 22:12
  show.
• 22:12
  But
• 22:12
  Ben,
• 22:12
  what
• 22:13
  was
• 22:13
  your
• 22:13
  stat
• 22:13
  of
• 22:13
  the
• 22:13
  show?
• 22:14
  Okay,
• 22:14
  so
• 22:14
  my
• 22:15
  stat
• 22:15
  of
• 22:15
  the
• 22:15
  show
• 22:15
  was
• 22:15
  from
• 22:16
  the
• 22:16
  E
• 22:16
  Market
• 22:16
  presentation,
• 22:17
  from
• 22:17
  Sky's
• 22:17
  presentation
• 22:18
  on
• 22:18
  day
• 22:19
  one.
• 22:19
  And
• 22:20
  I'm
• 22:20
  just
• 22:20
  going
• 22:20
  to
• 22:20
  read
• 22:20
  till
• 22:20
  I
• 22:21
  get
• 22:21
  this
• 22:21
  right.
• 22:22
  60%
• 22:23
  of
• 22:23
  shoppers
• 22:25
  say
• 22:25
  that
• 22:26
  when
• 22:26
  an
• 22:26
  answer
• 22:26
  engine
• 22:27
  recommends
• 22:27
  them
• 22:28
  a
• 22:28
  product,
• 22:29
  their
• 22:29
  next
• 22:30
  step
• 22:30
  is
• 22:30
  to
• 22:30
  go
• 22:31
  and
• 22:31
  do
• 22:31
  more
• 22:31
  research
• 22:32
  on
• 22:32
  their
• 22:32
  own.
• 22:34
  18%
• 22:36
  say
• 22:36
  their
• 22:37
  next
• 22:37
  action
• 22:38
  is
• 22:38
  to
• 22:38
  just
• 22:38
  completely
• 22:39
  ignore
• 22:39
  it,
• 22:40
  which
• 22:41
  kind
• 22:41
  of.
• 22:42
  I'm
• 22:42
  confused
• 22:42
  about
• 22:43
  that.
• 22:43
  18%.
• 22:45
  So
• 22:45
  you're
• 22:45
  left
• 22:45
  with
• 22:45
  less
• 22:46
  than
• 22:46
  a
• 22:46
  quarter
• 22:46
  who
• 22:47
  don't
• 22:47
  want
• 22:47
  to
• 22:47
  move
• 22:47
  to
• 22:47
  transaction.
• 22:48
  So
• 22:48
  we've
• 22:49
  been
• 22:49
  talking
• 22:49
  about
• 22:49
  our
• 22:50
  answer
• 22:50
  engine's
• 22:51
  direct
• 22:51
  the
• 22:51
  plug
• 22:51
  into
• 22:51
  commerce,
• 22:52
  or
• 22:52
  are
• 22:52
  they
• 22:52
  a
• 22:52
  search
• 22:53
  and
• 22:53
  discovery
• 22:53
  platform?
• 22:54
  I
• 22:54
  think
• 22:54
  right
• 22:54
  now
• 22:55
  Shopper
• 22:55
  Behavior
• 22:55
  is
• 22:56
  saying
• 22:56
  it's
• 22:56
  a
• 22:56
  search
• 22:56
  and
• 22:56
  discovery
• 22:57
  platform
• 22:57
  and
• 22:57
  we've
• 22:58
  got
• 22:58
  the
• 22:58
  numbers
• 22:58
  to
• 22:58
  prove
• 22:58
  that.
• 22:59
  Yeah.
• 22:59
  Yeah.
• 22:59
  I
• 22:59
  think
• 22:59
  that's
• 22:59
  probably
• 23:00
  a
• 23:00
  fair
• 23:00
  assumption.
• 23:00
  Though,
• 23:01
  Sarah,
• 23:03
  there
• 23:03
  are
• 23:03
  a
• 23:03
  lot
• 23:03
  of
• 23:04
  amazing
• 23:04
  quotes
• 23:04
  on
• 23:04
  stage,
• 23:05
  but
• 23:05
  since
• 23:05
  you
• 23:05
  asked
• 23:06
  me,
• 23:06
  I
• 23:06
  want
• 23:06
  to
• 23:06
  talk
• 23:06
  about
• 23:06
  what
• 23:06
  I
• 23:07
  want
• 23:07
  to
• 23:07
  talk
• 23:07
  about,
• 23:07
  which
• 23:07
  is
• 23:08
  in
• 23:08
  our
• 23:08
  debate,
• 23:09
  we
• 23:09
  talked
• 23:09
  a
• 23:09
  lot
• 23:09
  about
• 23:11
  is
• 23:11
  AI
• 23:11
  going
• 23:12
  to
• 23:12
  be
• 23:12
  a
• 23:12
  threat
• 23:12
  or
• 23:12
  an
• 23:13
  opportunity
• 23:13
  to
• 23:13
  your
• 23:13
  job?
• 23:14
  And
• 23:14
  I
• 23:14
  think
• 23:14
  this
• 23:15
  Stat
• 23:15
  that
• 23:15
  has
• 23:15
  come
• 23:15
  out.
• 23:16
  It
• 23:16
  came
• 23:16
  from
• 23:16
  the
• 23:16
  Brookings
• 23:17
  Institution
• 23:18
  of
• 23:19
  the
• 23:19
  amount
• 23:19
  that
• 23:20
  women
• 23:20
  will
• 23:20
  be
• 23:20
  disproportionately
• 23:21
  impacted
• 23:22
  by
• 23:22
  AI
• 23:22
  job
• 23:23
  loss.
• 23:23
  I
• 23:23
  think
• 23:23
  is
• 23:23
  really
• 23:24
  important
• 23:24
  to
• 23:24
  talk
• 23:24
  about.
• 23:25
  So,
• 23:26
  you
• 23:26
  know,
• 23:26
  the
• 23:27
  research
• 23:27
  actually
• 23:28
  says
• 23:28
  that
• 23:29
  that
• 23:29
  are
• 23:29
  both
• 23:29
  going
• 23:30
  to,
• 23:30
  are
• 23:31
  highly
• 23:31
  exposed
• 23:31
  to
• 23:31
  AI
• 23:32
  job
• 23:32
  loss
• 23:32
  and
• 23:33
  have
• 23:33
  a
• 23:33
  low
• 23:33
  ability
• 23:34
  to
• 23:34
  adapt.
• 23:34
  They're
• 23:34
  not
• 23:35
  going
• 23:35
  to
• 23:35
  get
• 23:35
  the
• 23:35
  training,
• 23:35
  there's
• 23:35
  not
• 23:36
  going
• 23:36
  to
• 23:36
  be
• 23:36
  the
• 23:36
  adaptation.
• 23:37
  86%
• 23:37
  of
• 23:38
  those
• 23:38
  are
• 23:38
  women.
• 23:38
  And
• 23:38
  so
• 23:39
  I,
• 23:39
  you
• 23:39
  know,
• 23:39
  if
• 23:40
  you're
• 23:40
  going
• 23:40
  to
• 23:40
  give
• 23:40
  me
• 23:40
  the
• 23:40
  floor,
• 23:40
  I'm
• 23:41
  going
• 23:41
  to
• 23:41
  say
• 23:41
  what
• 23:41
  I
• 23:41
  want
• 23:41
  to
• 23:41
  say.
• 23:42
  Yeah,
• 23:43
  that's,
• 23:43
  that's
• 23:43
  a,
• 23:43
  that's
• 23:44
  a
• 23:44
  very
• 23:44
  good.
• 23:44
  So
• 23:44
  it
• 23:45
  is
• 23:45
  our
• 23:45
  responsibility
• 23:45
  as
• 23:46
  leaders
• 23:46
  to
• 23:46
  ensure
• 23:46
  that
• 23:47
  we
• 23:47
  are
• 23:47
  getting
• 23:47
  everybody
• 23:48
  equally
• 23:49
  trained,
• 23:49
  everybody
• 23:50
  equal
• 23:50
  access
• 23:51
  to
• 23:51
  what's
• 23:51
  happening
• 23:52
  from
• 23:52
  an
• 23:52
  AI
• 23:52
  perspective.
• 23:53
  Yeah.
• 23:53
  100
• 23:53
  brilliant,
• 23:54
  Joe.
• 23:55
  I
• 23:55
  have
• 23:55
  two.
• 23:56
  I
• 23:56
  have
• 23:56
  a
• 23:56
  fun
• 23:56
  stat
• 23:57
  and
• 23:57
  I
• 23:57
  have
• 23:57
  a
• 23:57
  more
• 23:57
  serious
• 23:58
  stat.
• 23:58
  My
• 23:58
  fun
• 23:59
  stat
• 23:59
  is
• 24:00
  I'm
• 24:00
  the
• 24:00
  one
• 24:00
  who
• 24:00
  did
• 24:00
  this,
• 24:01
  so
• 24:01
  I'm
• 24:01
  responsible.
• 24:01
  But
• 24:02
  there
• 24:02
  were
• 24:02
  six
• 24:02
  people
• 24:02
  named
• 24:03
  Joe
• 24:03
  speaking
• 24:04
  at
• 24:04
  Shop
• 24:04
  Talk
• 24:04
  over
• 24:05
  the
• 24:05
  last
• 24:05
  several
• 24:05
  days.
• 24:06
  3.3%
• 24:07
  of
• 24:07
  shop
• 24:07
  talk
• 24:08
  speakers,
• 24:08
  which
• 24:08
  is
• 24:08
  a
• 24:08
  record.
• 24:09
  We're
• 24:09
  named
• 24:09
  Joe.
• 24:10
  So
• 24:10
  it's
• 24:10
  a
• 24:10
  record.
• 24:11
  You've
• 24:11
  calculated
• 24:11
  any
• 24:11
  Joe's
• 24:12
  in
• 24:12
  the
• 24:12
  audience?
• 24:12
  Joe.
• 24:13
  Joe.
• 24:13
  Over
• 24:13
  ten
• 24:13
  years
• 24:13
  of
• 24:13
  shot.
• 24:14
  That's
• 24:14
  a
• 24:14
  record.
• 24:15
  Joe
• 24:15
  Cano,
• 24:15
  Joe
• 24:16
  Shoemaker
• 24:16
  from
• 24:17
  Snipes,
• 24:18
  a
• 24:18
  few
• 24:18
  more
• 24:18
  Joes.
• 24:19
  So
• 24:19
  that's
• 24:20
  my
• 24:20
  fun
• 24:20
  stat,
• 24:20
  my
• 24:20
  more
• 24:21
  serious
• 24:21
  stat.
• 24:21
  Steve
• 24:21
  Huffman
• 24:22
  from
• 24:22
  Reddit
• 24:22
  pointed
• 24:22
  out
• 24:23
  that,
• 24:23
  you
• 24:23
  know,
• 24:23
  we,
• 24:23
  we
• 24:23
  tend
• 24:24
  to
• 24:24
  think
• 24:24
  of
• 24:24
  Reddit
• 24:24
  as
• 24:24
  being
• 24:25
  very
• 24:25
  uncommercial,
• 24:25
  almost
• 24:26
  like
• 24:26
  anti
• 24:26
  commercial.
• 24:27
  But,
• 24:27
  but
• 24:27
  40%
• 24:28
  of
• 24:28
  conversations
• 24:29
  on
• 24:29
  Reddit
• 24:29
  are
• 24:30
  about
• 24:30
  like
• 24:30
  finding
• 24:30
  a
• 24:31
  product,
• 24:31
  making
• 24:31
  a
• 24:31
  product
• 24:31
  decision.
• 24:32
  And
• 24:32
  so
• 24:32
  to
• 24:32
  his
• 24:33
  point
• 24:33
  about,
• 24:33
  and
• 24:33
  to
• 24:33
  the
• 24:34
  point
• 24:34
  we've
• 24:34
  been
• 24:34
  talking
• 24:34
  about,
• 24:34
  about
• 24:35
  where,
• 24:35
  who
• 24:35
  do
• 24:35
  you
• 24:35
  trust?
• 24:35
  Where
• 24:36
  do
• 24:36
  you
• 24:36
  turn
• 24:36
  when
• 24:36
  you
• 24:36
  kind
• 24:36
  of
• 24:37
  want
• 24:37
  to
• 24:37
  know
• 24:37
  what
• 24:37
  to
• 24:37
  buy?
• 24:38
  Like
• 24:38
  Reddit
• 24:39
  is
• 24:39
  really
• 24:39
  important
• 24:39
  for
• 24:40
  that
• 24:40
  and
• 24:40
  a
• 24:40
  lot
• 24:41
  of
• 24:41
  people
• 24:41
  use
• 24:41
  it
• 24:41
  that
• 24:41
  way.
• 24:42
  So
• 24:42
  40%
• 24:42
  of
• 24:43
  conversations
• 24:43
  on
• 24:43
  Reddit
• 24:44
  have
• 24:44
  some
• 24:44
  kind
• 24:44
  of
• 24:44
  a
• 24:44
  purchase
• 24:45
  or
• 24:45
  shopping
• 24:46
  or
• 24:46
  commercial
• 24:46
  implication.
• 24:47
  We're
• 24:47
  seeing
• 24:47
  so
• 24:47
  much
• 24:47
  more
• 24:48
  attention
• 24:48
  paid
• 24:48
  to
• 24:48
  Reddit
• 24:49
  from
• 24:49
  an
• 24:49
  advertising
• 24:49
  perspective.
• 24:50
  Like
• 24:50
  it
• 24:50
  was
• 24:50
  the,
• 24:51
  it's
• 24:51
  feeding
• 24:51
  into
• 24:52
  ChatGPT.
• 24:52
  And
• 24:52
  as
• 24:52
  soon
• 24:53
  as
• 24:53
  that
• 24:53
  was
• 24:53
  said,
• 24:53
  it
• 24:53
  was
• 24:53
  like
• 24:54
  everything
• 24:54
  they've
• 24:54
  been
• 24:54
  trying
• 24:55
  to
• 24:55
  tell
• 24:55
  people
• 24:55
  for
• 24:55
  a
• 24:55
  long
• 24:56
  time
• 24:56
  from
• 24:56
  an
• 24:56
  advertising
• 24:56
  perspective.
• 24:57
  So
• 24:58
  I
• 24:58
  would
• 24:58
  agree
• 24:58
  with
• 24:58
  that.
• 24:59
  Right,
• 24:59
  right.
• 24:59
  All
• 25:00
  right,
• 25:00
  great,
• 25:00
  great
• 25:00
  stats,
• 25:01
  Joe.
• 25:01
  Both
• 25:01
  on
• 25:02
  both
• 25:02
  fronts.
• 25:02
  All
• 25:02
  right,
• 25:03
  50%
• 25:03
  of
• 25:03
  my
• 25:04
  stats
• 25:04
  were
• 25:04
  great.
• 25:04
  Yeah.
• 25:05
  And
• 25:05
  my
• 25:05
  son's
• 25:05
  name
• 25:05
  is
• 25:05
  Joe
• 25:06
  too,
• 25:06
  so
• 25:06
  that's
• 25:06
  great.
• 25:06
  All
• 25:07
  right.
• 25:07
  Quote
• 25:07
  of
• 25:07
  the
• 25:07
  show,
• 25:08
  quote
• 25:09
  of
• 25:09
  the
• 25:09
  Show.
• 25:09
  Joe,
• 25:09
  I'm
• 25:09
  going
• 25:09
  back
• 25:09
  to
• 25:10
  you.
• 25:10
  What
• 25:10
  was
• 25:10
  your
• 25:10
  quote
• 25:10
  of
• 25:11
  the
• 25:11
  show?
• 25:11
  Yeah,
• 25:13
  Hilary,
• 25:13
  super
• 25:13
  Victoria's
• 25:14
  Secret
• 25:14
  yesterday
• 25:15
  said
• 25:15
  that
• 25:16
  when
• 25:17
  she
• 25:17
  was
• 25:17
  talking
• 25:18
  about
• 25:18
  embracing
• 25:19
  owning,
• 25:20
  being
• 25:20
  sexy,
• 25:20
  because
• 25:21
  that
• 25:21
  is
• 25:21
  what
• 25:21
  Victoria's
• 25:21
  Secret
• 25:22
  brand
• 25:22
  is.
• 25:22
  She
• 25:22
  said
• 25:23
  the
• 25:23
  change
• 25:23
  is.
• 25:23
  Victoria's
• 25:24
  Secret
• 25:24
  used
• 25:24
  to
• 25:25
  be
• 25:25
  prescriptive.
• 25:25
  It
• 25:26
  used
• 25:26
  to
• 25:26
  tell
• 25:26
  you
• 25:26
  what
• 25:26
  sexy
• 25:27
  was,
• 25:27
  and
• 25:28
  now
• 25:28
  it
• 25:28
  is
• 25:28
  part
• 25:28
  of
• 25:29
  a
• 25:29
  conversation.
• 25:29
  It
• 25:30
  is
• 25:30
  about
• 25:30
  being
• 25:31
  what
• 25:31
  its
• 25:31
  customers
• 25:32
  want
• 25:32
  sexy
• 25:32
  to
• 25:33
  be.
• 25:33
  And
• 25:33
  I
• 25:33
  kind
• 25:33
  of
• 25:33
  think
• 25:33
  whatever
• 25:34
  adjective
• 25:35
  your
• 25:35
  brand
• 25:35
  lives
• 25:35
  like,
• 25:36
  that
• 25:36
  is
• 25:36
  the
• 25:36
  journey
• 25:36
  that
• 25:37
  everybody
• 25:37
  has
• 25:37
  been
• 25:37
  on
• 25:38
  from
• 25:38
  being
• 25:38
  like,
• 25:38
  we
• 25:38
  define
• 25:39
  this
• 25:39
  for
• 25:39
  you
• 25:39
  to
• 25:40
  we're
• 25:40
  in
• 25:40
  a
• 25:41
  conversation
• 25:41
  about
• 25:41
  it
• 25:42
  with
• 25:42
  you,
• 25:42
  with
• 25:42
  their
• 25:43
  customers.
• 25:43
  Interesting.
• 25:44
  All
• 25:44
  right,
• 25:44
  Sarah,
• 25:45
  okay,
• 25:46
  this
• 25:46
  is
• 25:46
  one
• 25:46
  that
• 25:46
  I've
• 25:47
  heard
• 25:47
  so
• 25:47
  much
• 25:47
  back
• 25:48
  at
• 25:48
  me,
• 25:48
  which
• 25:48
  is
• 25:48
  why
• 25:49
  I
• 25:49
  know
• 25:49
  it
• 25:49
  was
• 25:49
  the
• 25:49
  stat
• 25:49
  of
• 25:49
  the
• 25:50
  show
• 25:50
  or
• 25:50
  the
• 25:50
  quote
• 25:51
  of
• 25:51
  the
• 25:51
  show.
• 25:52
  I
• 25:52
  think
• 25:52
  it
• 25:52
  is
• 25:53
  Colleen
• 25:54
  Waters
• 25:54
  yesterday
• 25:54
  from
• 25:54
  Steve
• 25:55
  Madden
• 25:55
  on
• 25:55
  stage
• 25:56
  announcing,
• 25:57
  like
• 25:57
  they
• 25:57
  had
• 25:57
  announced
• 25:57
  it
• 25:57
  the
• 25:58
  day
• 25:58
  before,
• 25:58
  but
• 25:58
  that
• 25:58
  you
• 25:59
  could
• 25:59
  doordash
• 26:00
  your
• 26:00
  shoes
• 26:00
  now.
• 26:00
  You
• 26:00
  can
• 26:00
  just
• 26:00
  doordash
• 26:01
  them
• 26:01
  right
• 26:01
  now.
• 26:01
  Get
• 26:02
  your
• 26:02
  sushi,
• 26:02
  get
• 26:02
  your
• 26:02
  shoes.
• 26:03
  And
• 26:03
  she
• 26:03
  made
• 26:03
  the
• 26:03
  point
• 26:03
  of
• 26:04
  like,
• 26:04
  if
• 26:04
  you're
• 26:04
  here,
• 26:05
  ladies,
• 26:05
  and
• 26:05
  it's
• 26:06
  your
• 26:06
  first
• 26:06
  time
• 26:06
  and
• 26:07
  you
• 26:07
  don't
• 26:07
  have
• 26:07
  your
• 26:07
  conference
• 26:08
  shoes
• 26:08
  and
• 26:08
  your
• 26:08
  feet
• 26:09
  hurt.
• 26:09
  And
• 26:09
  I've
• 26:10
  had
• 26:10
  15
• 26:10
  people
• 26:10
  come
• 26:11
  up
• 26:11
  and
• 26:11
  be
• 26:11
  like,
• 26:11
  I
• 26:11
  doordash
• 26:12
  these
• 26:12
  shoes.
• 26:12
  I
• 26:12
  doordash
• 26:13
  these
• 26:13
  shoes.
• 26:13
  So
• 26:13
  I'm
• 26:14
  gonna
• 26:14
  say
• 26:14
  it
• 26:14
  was
• 26:14
  a
• 26:14
  very
• 26:14
  directional
• 26:15
  quote
• 26:15
  and
• 26:16
  I
• 26:16
  appreciate
• 26:17
  how
• 26:17
  hard
• 26:17
  they're
• 26:17
  pushing.
• 26:18
  That's
• 26:18
  really
• 26:18
  interesting
• 26:18
  too,
• 26:19
  because
• 26:19
  I,
• 26:19
  yeah,
• 26:19
  I
• 26:19
  think
• 26:20
  I
• 26:20
  would
• 26:20
  say
• 26:20
  I
• 26:21
  doordash
• 26:21
  that,
• 26:21
  but
• 26:21
  I
• 26:22
  don't
• 26:22
  know
• 26:22
  if
• 26:22
  I'd
• 26:22
  say
• 26:22
  I
• 26:22
  instantly
• 26:22
  to
• 26:23
  cart
• 26:23
  that.
• 26:23
  You
• 26:23
  know,
• 26:23
  like,
• 26:23
  when
• 26:24
  you
• 26:24
  think
• 26:24
  about
• 26:24
  it,
• 26:24
  in
• 26:24
  the
• 26:24
  landscape
• 26:25
  of
• 26:25
  how
• 26:25
  our
• 26:25
  language
• 26:26
  is
• 26:26
  changing,
• 26:26
  that's
• 26:26
  a
• 26:26
  really.
• 26:27
  That's
• 26:27
  a
• 26:27
  really
• 26:27
  intriguing
• 26:28
  point.
• 26:28
  All
• 26:29
  right,
• 26:29
  Ben,
• 26:29
  what
• 26:29
  was
• 26:30
  your
• 26:30
  quote
• 26:30
  of
• 26:30
  the
• 26:30
  show
• 26:31
  with
• 26:31
  the
• 26:31
  British
• 26:31
  language?
• 26:33
  I've
• 26:33
  got
• 26:34
  actually
• 26:34
  a
• 26:34
  couple
• 26:35
  of
• 26:35
  things
• 26:36
  that
• 26:36
  Max,
• 26:37
  Max
• 26:37
  Magni
• 26:38
  from
• 26:38
  Macy's
• 26:39
  said
• 26:39
  in
• 26:40
  their
• 26:40
  keynote.
• 26:40
  So
• 26:41
  really
• 26:41
  interesting.
• 26:41
  We
• 26:41
  had
• 26:42
  CEO
• 26:42
  of
• 26:42
  Macy's
• 26:43
  two
• 26:43
  years
• 26:43
  ago,
• 26:43
  Tony
• 26:44
  Spring.
• 26:44
  He
• 26:44
  came
• 26:44
  and
• 26:44
  said
• 26:45
  the
• 26:45
  new
• 26:45
  vision.
• 26:45
  And
• 26:46
  then
• 26:46
  we
• 26:46
  invited
• 26:47
  two
• 26:47
  of
• 26:47
  the
• 26:47
  C
• 26:48
  suite
• 26:48
  back
• 26:48
  to
• 26:48
  years
• 26:49
  later
• 26:49
  to
• 26:49
  update
• 26:49
  us
• 26:49
  on
• 26:50
  progress.
• 26:51
  And
• 26:51
  Max
• 26:51
  is
• 26:52
  the
• 26:52
  Chief
• 26:52
  Digital
• 26:52
  Officer.
• 26:54
  And
• 26:54
  he
• 26:54
  said
• 26:55
  two
• 26:55
  things
• 26:55
  that
• 26:55
  just
• 26:55
  really
• 26:55
  resonate.
• 26:56
  One
• 26:56
  is
• 26:56
  he
• 26:57
  just
• 26:57
  summed
• 26:57
  up
• 26:57
  retail
• 26:58
  as
• 26:59
  relevance,
• 26:59
  experience
• 27:00
  and
• 27:00
  value.
• 27:01
  And
• 27:01
  for
• 27:01
  all
• 27:02
  the
• 27:02
  talk
• 27:02
  about
• 27:02
  agentic
• 27:03
  AI,
• 27:03
  it's
• 27:04
  just
• 27:04
  like
• 27:04
  getting
• 27:04
  back
• 27:05
  to
• 27:05
  basics
• 27:06
  of
• 27:06
  a
• 27:06
  relevant
• 27:07
  proposition,
• 27:07
  giving
• 27:08
  people
• 27:08
  a
• 27:08
  great
• 27:08
  experience
• 27:09
  and
• 27:09
  delivering
• 27:10
  the
• 27:10
  value
• 27:10
  that
• 27:10
  they
• 27:10
  need.
• 27:11
  So
• 27:11
  it
• 27:12
  was
• 27:12
  just
• 27:12
  a
• 27:12
  reminder
• 27:12
  of
• 27:12
  the
• 27:13
  retail
• 27:13
  basics,
• 27:13
  which
• 27:13
  I
• 27:13
  loved.
• 27:14
  And
• 27:14
  then
• 27:14
  later
• 27:15
  in
• 27:15
  the
• 27:15
  conversation,
• 27:16
  he
• 27:16
  said,
• 27:16
  stores
• 27:17
  are
• 27:17
  our
• 27:17
  most
• 27:18
  important
• 27:18
  assets.
• 27:19
  And
• 27:20
  we
• 27:20
  know
• 27:20
  that,
• 27:21
  but
• 27:21
  it's.
• 27:21
  How
• 27:22
  refreshing
• 27:22
  is
• 27:22
  it
• 27:22
  to
• 27:23
  hear
• 27:23
  a
• 27:23
  Chief
• 27:23
  Digital
• 27:23
  Officer
• 27:24
  say
• 27:24
  that
• 27:25
  on
• 27:25
  stage
• 27:26
  and
• 27:26
  help
• 27:27
  ground
• 27:27
  the
• 27:27
  conversation?
• 27:28
  Yeah.
• 27:28
  Especially
• 27:28
  at
• 27:28
  Macy's,
• 27:29
  too.
• 27:29
  Yeah.
• 27:30
  All
• 27:30
  right,
• 27:30
  Mine
• 27:30
  was.
• 27:31
  I'm
• 27:31
  going
• 27:31
  to
• 27:32
  give
• 27:32
  a
• 27:32
  shout
• 27:32
  out
• 27:32
  to
• 27:32
  a
• 27:33
  good
• 27:33
  friend
• 27:33
  of
• 27:33
  mine
• 27:33
  who
• 27:33
  gave
• 27:34
  a
• 27:34
  presentation,
• 27:34
  Chad
• 27:34
  Lusk
• 27:35
  of
• 27:35
  the
• 27:35
  AM
• 27:35
  Consumer
• 27:36
  and
• 27:36
  Retail
• 27:36
  Group.
• 27:36
  He
• 27:36
  gave
• 27:36
  a
• 27:37
  presentation
• 27:37
  on
• 27:38
  the
• 27:38
  state
• 27:38
  of
• 27:38
  consumer
• 27:38
  sentiment.
• 27:39
  And
• 27:39
  he
• 27:40
  did
• 27:40
  it
• 27:40
  in
• 27:40
  a
• 27:40
  very
• 27:40
  unique
• 27:41
  way
• 27:41
  because
• 27:41
  he
• 27:41
  made
• 27:42
  an
• 27:42
  allusion
• 27:42
  to
• 27:42
  Breaking
• 27:43
  Bad
• 27:43
  and
• 27:43
  Walter
• 27:43
  White.
• 27:44
  And
• 27:44
  he
• 27:44
  said,
• 27:44
  quote,
• 27:45
  quote,
• 27:45
  while
• 27:46
  the
• 27:46
  American
• 27:46
  consumer
• 27:47
  isn't
• 27:47
  cooking
• 27:47
  meth,
• 27:48
  they
• 27:49
  are
• 27:49
  similarly
• 27:50
  making
• 27:50
  extreme
• 27:51
  behavior
• 27:51
  changes
• 27:52
  in
• 27:52
  response
• 27:52
  to
• 27:52
  all
• 27:53
  the
• 27:53
  macroeconomic
• 27:54
  factors
• 27:55
  that
• 27:55
  are
• 27:55
  out
• 27:55
  there,
• 27:55
  end
• 27:55
  quote.
• 27:56
  That's
• 27:56
  wrong.
• 27:56
  And
• 27:57
  so
• 27:57
  I'll
• 27:57
  just
• 27:57
  leave
• 27:57
  it
• 27:57
  at
• 27:57
  that.
• 27:58
  You
• 27:58
  know,
• 27:58
  it's
• 27:58
  not
• 27:59
  often
• 27:59
  you
• 27:59
  get
• 27:59
  to
• 27:59
  reference
• 27:59
  that
• 28:00
  show
• 28:00
  in
• 28:00
  that
• 28:00
  way.
• 28:01
  All
• 28:01
  right,
• 28:01
  we
• 28:01
  got
• 28:02
  two
• 28:02
  more.
• 28:03
  We
• 28:03
  got
• 28:03
  plenty
• 28:03
  of
• 28:04
  time
• 28:04
  for
• 28:04
  two
• 28:04
  more.
• 28:05
  All
• 28:05
  right,
• 28:06
  next
• 28:06
  one
• 28:07
  most
• 28:07
  memorable
• 28:08
  off
• 28:08
  stage
• 28:09
  insight.
• 28:09
  What
• 28:10
  did
• 28:10
  you
• 28:10
  hear
• 28:10
  offstage
• 28:11
  that
• 28:11
  stuck
• 28:11
  with
• 28:11
  you?
• 28:12
  Sarah?
• 28:13
  You
• 28:13
  know
• 28:13
  what?
• 28:14
  I'm
• 28:14
  going
• 28:14
  to.
• 28:14
  Speaking
• 28:14
  of
• 28:15
  shouting
• 28:15
  people
• 28:15
  out,
• 28:15
  I'm
• 28:15
  a
• 28:15
  shout
• 28:15
  out.
• 28:16
  Sarah
• 28:16
  Wallace,
• 28:16
  who's
• 28:16
  the
• 28:16
  chief
• 28:17
  operating
• 28:17
  officer
• 28:17
  of
• 28:18
  Minted,
• 28:18
  has
• 28:18
  a
• 28:18
  phenomenal
• 28:19
  retail
• 28:19
  background,
• 28:20
  athletic,
• 28:20
  Gap,
• 28:20
  other
• 28:21
  places.
• 28:21
  Anyway,
• 28:21
  we
• 28:21
  were
• 28:21
  having
• 28:21
  a
• 28:22
  conversation
• 28:22
  off
• 28:22
  stage
• 28:23
  with
• 28:23
  a
• 28:23
  lot
• 28:24
  of
• 28:24
  other,
• 28:24
  you
• 28:25
  know,
• 28:25
  brands
• 28:25
  and
• 28:25
  retailers
• 28:25
  standing
• 28:26
  around
• 28:26
  us,
• 28:26
  and
• 28:26
  everybody
• 28:27
  unanimously
• 28:27
  agreed
• 28:28
  with
• 28:28
  her
• 28:28
  perspective,
• 28:28
  which
• 28:28
  is
• 28:29
  over
• 28:30
  the
• 28:30
  last,
• 28:30
  let's
• 28:30
  say,
• 28:31
  decade,
• 28:31
  there's
• 28:31
  been
• 28:32
  like
• 28:32
  all
• 28:32
  of
• 28:32
  these,
• 28:33
  like,
• 28:33
  crises
• 28:34
  that
• 28:34
  retailers
• 28:35
  and
• 28:35
  brands
• 28:35
  have
• 28:35
  gone
• 28:35
  through.
• 28:35
  Right.
• 28:36
  We've
• 28:36
  like,
• 28:36
  we
• 28:36
  just
• 28:37
  moved,
• 28:37
  moved
• 28:37
  from
• 28:37
  one
• 28:38
  to
• 28:38
  another
• 28:38
  to
• 28:38
  another.
• 28:38
  And
• 28:39
  it's
• 28:39
  like
• 28:39
  always
• 28:39
  this,
• 28:40
  like,
• 28:40
  crisis
• 28:41
  of
• 28:41
  identity
• 28:42
  and
• 28:42
  what
• 28:42
  do
• 28:42
  we
• 28:42
  need
• 28:42
  to
• 28:42
  do
• 28:42
  next?
• 28:43
  And
• 28:43
  it's
• 28:43
  like,
• 28:43
  you
• 28:43
  know,
• 28:44
  the
• 28:44
  sky
• 28:44
  is
• 28:44
  falling
• 28:44
  at
• 28:45
  all
• 28:45
  times.
• 28:45
  All
• 28:46
  of
• 28:46
  a
• 28:46
  sudden
• 28:47
  she
• 28:47
  was
• 28:47
  feeling
• 28:48
  that,
• 28:48
  and
• 28:48
  I
• 28:48
  think
• 28:48
  we
• 28:48
  were
• 28:48
  all
• 28:49
  feeling
• 28:49
  that
• 28:49
  from
• 28:49
  the
• 28:49
  tech
• 28:50
  companies
• 28:51
  here
• 28:51
  and
• 28:51
  not
• 28:52
  as
• 28:52
  much
• 28:52
  from
• 28:52
  the
• 28:52
  retailers
• 28:53
  and
• 28:53
  brands
• 28:54
  here
• 28:54
  in
• 28:54
  the
• 28:54
  sense
• 28:55
  that
• 28:55
  all
• 28:55
  of
• 28:55
  a
• 28:55
  sudden
• 28:55
  they're
• 28:55
  going,
• 28:56
  I
• 28:56
  have
• 28:56
  a
• 28:56
  physical
• 28:57
  product
• 28:57
  to
• 28:58
  sell.
• 28:58
  Yeah,
• 28:58
  I
• 28:59
  am
• 28:59
  not.
• 28:59
  Everything
• 28:59
  I'm
• 29:00
  doing
• 29:00
  is
• 29:00
  not
• 29:00
  based
• 29:00
  on
• 29:01
  the
• 29:01
  technology
• 29:01
  that
• 29:01
  is
• 29:01
  changing
• 29:02
  every
• 29:02
  single
• 29:02
  day.
• 29:03
  I
• 29:03
  don't,
• 29:03
  you
• 29:03
  know,
• 29:04
  that.
• 29:04
  I
• 29:04
  don't
• 29:04
  know
• 29:04
  how
• 29:04
  to
• 29:04
  explain
• 29:04
  that.
• 29:05
  I
• 29:05
  don't
• 29:05
  know
• 29:05
  how
• 29:05
  to
• 29:05
  get
• 29:05
  up
• 29:05
  to
• 29:05
  speed.
• 29:06
  And
• 29:06
  so
• 29:07
  it
• 29:07
  was
• 29:07
  a
• 29:07
  kind
• 29:07
  of
• 29:07
  an
• 29:07
  interesting
• 29:08
  moment
• 29:08
  that
• 29:08
  people,
• 29:09
  you
• 29:09
  know,
• 29:09
  and
• 29:09
  I
• 29:10
  know
• 29:10
  that
• 29:10
  there
• 29:10
  is
• 29:10
  a
• 29:10
  lot
• 29:10
  of
• 29:10
  fear
• 29:11
  and
• 29:11
  a
• 29:11
  lot
• 29:11
  of
• 29:11
  trepidation,
• 29:12
  of
• 29:12
  course,
• 29:12
  from
• 29:12
  brands
• 29:13
  and
• 29:13
  retailers,
• 29:13
  but
• 29:14
  that
• 29:14
  there's.
• 29:14
  That
• 29:14
  finally
• 29:15
  this
• 29:15
  moment
• 29:15
  where
• 29:16
  that
• 29:16
  crisis
• 29:17
  and,
• 29:17
  you
• 29:18
  know,
• 29:18
  is
• 29:18
  feeling
• 29:18
  a
• 29:18
  little
• 29:19
  bit
• 29:19
  more
• 29:19
  Resilient
• 29:20
  and
• 29:20
  a
• 29:20
  little
• 29:20
  bit
• 29:20
  more
• 29:20
  like,
• 29:21
  also,
• 29:21
  like,
• 29:22
  we
• 29:22
  made
• 29:22
  it
• 29:22
  through
• 29:22
  Covid,
• 29:23
  we
• 29:23
  made
• 29:23
  it
• 29:23
  through
• 29:23
  this,
• 29:23
  we
• 29:23
  made
• 29:24
  it
• 29:24
  through
• 29:24
  that,
• 29:24
  made
• 29:24
  it
• 29:24
  through
• 29:24
  the
• 29:24
  tariffs.
• 29:25
  Like,
• 29:25
  we'll
• 29:25
  be
• 29:25
  all
• 29:26
  right.
• 29:26
  Like,
• 29:26
  there
• 29:27
  is
• 29:27
  a
• 29:27
  sense
• 29:27
  of
• 29:27
  resilience
• 29:28
  and
• 29:28
  hope
• 29:29
  that
• 29:29
  I.
• 29:29
  I
• 29:30
  don't
• 29:30
  know
• 29:30
  that
• 29:30
  I
• 29:30
  expected
• 29:31
  because
• 29:31
  I
• 29:31
  thought
• 29:31
  there
• 29:32
  was
• 29:32
  so
• 29:32
  much
• 29:32
  fear
• 29:32
  that
• 29:32
  the
• 29:32
  resilience
• 29:33
  wasn't
• 29:33
  there.
• 29:33
  And
• 29:33
  the
• 29:33
  resilience
• 29:34
  is
• 29:34
  there
• 29:34
  right
• 29:34
  now.
• 29:35
  That's
• 29:35
  interesting
• 29:35
  though,
• 29:35
  because,
• 29:36
  yeah,
• 29:36
  the
• 29:36
  tangibility
• 29:37
  of
• 29:37
  what
• 29:37
  we
• 29:37
  do
• 29:37
  in
• 29:37
  retail
• 29:38
  is
• 29:38
  really
• 29:38
  important.
• 29:38
  Like
• 29:39
  you
• 29:39
  still
• 29:39
  have
• 29:39
  to
• 29:40
  tangibly
• 29:40
  do
• 29:40
  that
• 29:41
  and
• 29:41
  get
• 29:41
  those
• 29:41
  products
• 29:42
  to
• 29:42
  customers,
• 29:43
  which
• 29:43
  you
• 29:43
  can
• 29:43
  take
• 29:43
  solace
• 29:44
  in
• 29:44
  if
• 29:44
  you
• 29:44
  think
• 29:44
  about
• 29:45
  it
• 29:45
  in
• 29:45
  the
• 29:45
  right
• 29:45
  way.
• 29:47
  Ben,
• 29:47
  most
• 29:47
  memorable
• 29:48
  insight
• 29:48
  you
• 29:48
  heard
• 29:48
  off
• 29:49
  stage.
• 29:49
  Yeah.
• 29:50
  And
• 29:50
  this
• 29:50
  was
• 29:51
  kind
• 29:51
  of
• 29:51
  somebody
• 29:51
  that
• 29:51
  challenged
• 29:52
  me
• 29:52
  and
• 29:52
  really
• 29:53
  got
• 29:53
  me
• 29:53
  thinking.
• 29:53
  I
• 29:54
  think
• 29:54
  one
• 29:54
  of
• 29:54
  the
• 29:54
  things
• 29:54
  I'm
• 29:56
  very
• 29:56
  conscious
• 29:56
  of
• 29:56
  when
• 29:57
  we
• 29:57
  try
• 29:57
  and
• 29:57
  talk
• 29:57
  about
• 29:58
  content
• 29:58
  and
• 29:58
  we
• 29:58
  try
• 29:59
  and
• 29:59
  talk
• 29:59
  about
• 30:00
  the
• 30:00
  industry
• 30:00
  on
• 30:01
  stage
• 30:01
  is
• 30:02
  to
• 30:02
  avoid
• 30:03
  kind
• 30:03
  of
• 30:03
  really
• 30:04
  tired
• 30:04
  cliches.
• 30:05
  So
• 30:06
  I
• 30:06
  hate
• 30:06
  it
• 30:06
  whenever
• 30:07
  people
• 30:07
  declare
• 30:08
  that
• 30:08
  anything
• 30:08
  is
• 30:08
  dead,
• 30:09
  whether
• 30:09
  it's
• 30:10
  physical
• 30:10
  store,
• 30:10
  whatever
• 30:11
  it
• 30:11
  is,
• 30:11
  it's
• 30:11
  just
• 30:12
  they're
• 30:12
  not.
• 30:12
  It's
• 30:13
  nuanced.
• 30:14
  Let's
• 30:14
  have
• 30:14
  a
• 30:14
  grown
• 30:14
  up
• 30:14
  conversation.
• 30:16
  But
• 30:16
  somebody
• 30:16
  tapped
• 30:16
  me
• 30:17
  on
• 30:17
  the
• 30:17
  shoulder
• 30:17
  and
• 30:17
  pulled
• 30:17
  me
• 30:17
  up
• 30:18
  for
• 30:18
  doing
• 30:19
  a
• 30:19
  cliche
• 30:19
  myself.
• 30:20
  And
• 30:21
  that
• 30:21
  was
• 30:21
  during
• 30:21
  our
• 30:22
  zeitgeist
• 30:22
  yesterday.
• 30:23
  Yesterday
• 30:24
  evening
• 30:24
  somebody
• 30:24
  told
• 30:25
  me
• 30:25
  you
• 30:26
  said
• 30:26
  that
• 30:26
  cliche
• 30:27
  that
• 30:27
  the
• 30:27
  pace
• 30:28
  of
• 30:28
  change
• 30:28
  is
• 30:28
  unprecedented.
• 30:30
  What
• 30:30
  I'm
• 30:30
  trying
• 30:30
  to
• 30:30
  think
• 30:30
  about
• 30:31
  is
• 30:31
  how
• 30:32
  do
• 30:32
  we
• 30:32
  A,
• 30:32
  talk
• 30:33
  about
• 30:33
  and
• 30:33
  B,
• 30:33
  as
• 30:33
  an
• 30:34
  industry,
• 30:34
  respond
• 30:35
  to
• 30:35
  the
• 30:36
  fact
• 30:36
  that
• 30:36
  the
• 30:37
  industry
• 30:37
  is
• 30:37
  changing
• 30:38
  incredibly
• 30:39
  quickly.
• 30:39
  And
• 30:39
  it
• 30:39
  feels
• 30:39
  like
• 30:39
  you're
• 30:40
  changing
• 30:40
  incredibly
• 30:40
  quickly,
• 30:41
  but
• 30:41
  in
• 30:41
  a
• 30:42
  practical
• 30:42
  and
• 30:43
  actionable
• 30:43
  way
• 30:43
  rather
• 30:44
  than
• 30:44
  just
• 30:44
  a
• 30:44
  cliche
• 30:45
  way?
• 30:45
  How
• 30:45
  do
• 30:45
  you
• 30:45
  do
• 30:45
  it
• 30:45
  in
• 30:45
  a
• 30:45
  way
• 30:46
  that's
• 30:46
  helpful
• 30:46
  to
• 30:47
  help
• 30:47
  companies
• 30:47
  navigate
• 30:48
  it?
• 30:48
  And
• 30:48
  I'm
• 30:49
  still
• 30:49
  reflecting
• 30:49
  a
• 30:49
  lot
• 30:49
  on
• 30:50
  that.
• 30:50
  Yeah,
• 30:50
  that's
• 30:50
  interesting
• 30:51
  too.
• 30:51
  I'm
• 30:51
  going
• 30:51
  to
• 30:51
  share
• 30:51
  mine
• 30:52
  now
• 30:52
  because
• 30:52
  I
• 30:52
  think
• 30:52
  it's
• 30:53
  probably
• 30:53
  the
• 30:53
  appropriate
• 30:53
  place
• 30:53
  to
• 30:53
  share
• 30:53
  it
• 30:54
  is
• 30:54
  I
• 30:54
  did
• 30:55
  a
• 30:55
  podcast
• 30:55
  with
• 30:56
  the
• 30:56
  CEO
• 30:57
  of
• 30:57
  a
• 30:57
  company
• 30:57
  called
• 30:57
  Duvo
• 30:58
  and
• 30:58
  prior
• 30:59
  to
• 30:59
  this
• 31:00
  he
• 31:01
  was
• 31:01
  the
• 31:01
  founder
• 31:01
  of
• 31:01
  Roll
• 31:02
  IT
• 31:02
  Group,
• 31:02
  which
• 31:02
  for
• 31:02
  those
• 31:03
  that
• 31:03
  may
• 31:03
  not
• 31:03
  be
• 31:03
  familiar,
• 31:04
  is
• 31:04
  probably
• 31:04
  the
• 31:04
  most
• 31:05
  one
• 31:06
  of,
• 31:06
  if
• 31:06
  not
• 31:06
  the
• 31:06
  most
• 31:06
  successful
• 31:07
  E
• 31:07
  grocer
• 31:08
  in
• 31:08
  Europe.
• 31:09
  And
• 31:10
  now
• 31:10
  he's
• 31:10
  got
• 31:11
  the
• 31:11
  AI
• 31:11
  bug.
• 31:11
  And
• 31:12
  the
• 31:12
  conversation
• 31:13
  struck
• 31:13
  me
• 31:13
  and
• 31:14
  I
• 31:14
  wrote
• 31:14
  it
• 31:14
  down
• 31:14
  because
• 31:14
  I
• 31:14
  want
• 31:14
  to
• 31:14
  make
• 31:15
  sure
• 31:15
  I
• 31:15
  said
• 31:15
  it
• 31:15
  to
• 31:16
  everyone
• 31:16
  the
• 31:16
  right
• 31:16
  way.
• 31:17
  And
• 31:17
  the
• 31:17
  learning
• 31:18
  I
• 31:18
  had,
• 31:18
  which
• 31:18
  is
• 31:18
  similar
• 31:19
  to
• 31:19
  what
• 31:19
  Ben
• 31:19
  was
• 31:19
  talking
• 31:20
  about
• 31:20
  in
• 31:20
  a
• 31:20
  lot
• 31:20
  of
• 31:20
  ways,
• 31:20
  is
• 31:21
  not
• 31:21
  only
• 31:21
  can
• 31:21
  AI
• 31:22
  be
• 31:22
  used
• 31:22
  to
• 31:22
  improve
• 31:23
  retail
• 31:23
  operations,
• 31:24
  but
• 31:24
  it
• 31:24
  can
• 31:24
  also
• 31:25
  be
• 31:25
  leveraged
• 31:25
  to
• 31:26
  determine
• 31:26
  how
• 31:26
  one's
• 31:27
  operations
• 31:27
  should
• 31:28
  actually
• 31:28
  be
• 31:28
  improved.
• 31:29
  And
• 31:30
  so
• 31:30
  when
• 31:30
  you
• 31:30
  think
• 31:30
  about
• 31:30
  that,
• 31:31
  it's
• 31:31
  really
• 31:31
  powerful
• 31:32
  because
• 31:32
  that
• 31:33
  means
• 31:33
  AI
• 31:33
  is
• 31:33
  not
• 31:33
  only
• 31:34
  our
• 31:34
  consultant,
• 31:35
  but
• 31:35
  it's
• 31:35
  also
• 31:36
  our
• 31:36
  operator
• 31:36
  all
• 31:37
  rolled
• 31:37
  into
• 31:37
  one.
• 31:37
  And
• 31:38
  so
• 31:38
  that
• 31:39
  is
• 31:39
  kind
• 31:39
  of
• 31:39
  the
• 31:39
  insight
• 31:40
  that
• 31:40
  I've
• 31:40
  been
• 31:40
  talking
• 31:41
  about
• 31:42
  constantly
• 31:42
  at
• 31:42
  this
• 31:43
  show.
• 31:43
  Joel,
• 31:44
  finish
• 31:44
  us
• 31:44
  out
• 31:44
  on
• 31:44
  this
• 31:44
  one.
• 31:45
  Yeah,
• 31:45
  it's
• 31:46
  not
• 31:46
  so
• 31:46
  much
• 31:46
  an
• 31:46
  insight,
• 31:47
  just
• 31:47
  like
• 31:47
  an
• 31:47
  interesting
• 31:48
  quote,
• 31:49
  I
• 31:49
  suppose.
• 31:49
  And
• 31:49
  I'm
• 31:49
  stealing
• 31:50
  it
• 31:50
  from
• 31:50
  my
• 31:50
  colleague
• 31:50
  H.G.
• 31:51
  O',
• 31:51
  Connell,
• 31:51
  who,
• 31:51
  like,
• 31:52
  yesterday
• 31:52
  afternoon
• 31:53
  heard
• 31:53
  somebody
• 31:53
  walking
• 31:54
  around
• 31:54
  in
• 31:54
  the
• 31:54
  exhibit
• 31:54
  hall
• 31:55
  saying,
• 31:55
  I
• 31:55
  hope
• 31:55
  there's
• 31:55
  a
• 31:55
  retail
• 31:56
  rumble
• 31:56
  again
• 31:56
  tonight.
• 31:57
  For
• 31:57
  those
• 31:58
  who
• 31:58
  weren't
• 31:58
  there,
• 31:58
  the
• 31:58
  retail
• 31:58
  rumble
• 31:59
  happened
• 31:59
  on
• 31:59
  the
• 31:59
  first
• 32:00
  night
• 32:00
  of
• 32:00
  the
• 32:00
  show
• 32:00
  on
• 32:01
  this
• 32:01
  stage
• 32:01
  where
• 32:02
  we
• 32:02
  had
• 32:02
  six,
• 32:03
  eight
• 32:03
  really,
• 32:03
  really
• 32:04
  smart,
• 32:04
  really
• 32:05
  brave
• 32:05
  people,
• 32:06
  including
• 32:07
  Sarah
• 32:07
  Engel,
• 32:08
  willing
• 32:08
  to
• 32:08
  just
• 32:08
  kind
• 32:09
  of
• 32:09
  stand
• 32:09
  up
• 32:09
  and
• 32:09
  to
• 32:09
  Ben's
• 32:10
  point,
• 32:10
  about
• 32:10
  getting
• 32:10
  away
• 32:10
  from
• 32:10
  cliches,
• 32:11
  just
• 32:11
  kind
• 32:11
  of
• 32:11
  really,
• 32:12
  you
• 32:12
  know,
• 32:12
  kind
• 32:12
  of
• 32:12
  take
• 32:13
  the
• 32:13
  gloves
• 32:13
  off,
• 32:13
  as
• 32:14
  it
• 32:14
  were,
• 32:14
  and
• 32:14
  kind
• 32:14
  of
• 32:14
  have,
• 32:15
  in
• 32:15
  a
• 32:15
  fun
• 32:15
  way,
• 32:15
  kind
• 32:16
  of
• 32:16
  a
• 32:16
  serious
• 32:17
  argument
• 32:17
  about
• 32:18
  four
• 32:18
  big
• 32:18
  issues,
• 32:19
  four
• 32:19
  big
• 32:19
  changes
• 32:19
  going
• 32:20
  on
• 32:20
  across
• 32:20
  the
• 32:21
  industry.
• 32:21
  And
• 32:21
  debates
• 32:22
  are
• 32:22
  something
• 32:22
  shopdoc
• 32:23
  has
• 32:23
  internally
• 32:23
  debated
• 32:24
  about.
• 32:24
  Do
• 32:24
  we
• 32:24
  even
• 32:25
  try
• 32:25
  to
• 32:25
  do
• 32:25
  that?
• 32:25
  Can
• 32:25
  we
• 32:26
  get
• 32:26
  people
• 32:26
  to
• 32:26
  disagree
• 32:26
  on
• 32:27
  our
• 32:27
  stage?
• 32:27
  But
• 32:27
  I
• 32:27
  think.
• 32:28
  I
• 32:28
  think
• 32:28
  it
• 32:28
  worked
• 32:28
  really
• 32:29
  well.
• 32:29
  It
• 32:29
  was
• 32:29
  super
• 32:30
  fun.
• 32:30
  We
• 32:30
  did
• 32:30
  a
• 32:30
  couple
• 32:30
  of
• 32:31
  other
• 32:31
  debates
• 32:31
  over
• 32:31
  the
• 32:31
  course
• 32:32
  of
• 32:32
  the
• 32:32
  three
• 32:32
  days
• 32:32
  because
• 32:33
  I
• 32:33
  think
• 32:33
  we're
• 32:33
  at
• 32:33
  a
• 32:33
  moment
• 32:33
  in
• 32:34
  time
• 32:34
  when
• 32:34
  people
• 32:34
  can
• 32:35
  reasonably
• 32:35
  disagree
• 32:36
  and
• 32:36
  hopefully
• 32:36
  in
• 32:36
  a
• 32:36
  grown
• 32:37
  up
• 32:37
  kind
• 32:37
  of
• 32:37
  way,
• 32:37
  that
• 32:38
  the
• 32:38
  rumble
• 32:38
  was
• 32:38
  a
• 32:38
  little
• 32:39
  bit
• 32:39
  like,
• 32:39
  punchy
• 32:40
  at
• 32:40
  times,
• 32:41
  but
• 32:41
  by
• 32:41
  design.
• 32:42
  And
• 32:43
  I
• 32:43
  think
• 32:43
  it's
• 32:43
  something
• 32:43
  we
• 32:44
  need
• 32:44
  to
• 32:44
  work
• 32:44
  on
• 32:44
  to
• 32:44
  kind
• 32:44
  of
• 32:45
  make
• 32:45
  sure
• 32:45
  that
• 32:45
  our
• 32:45
  shows
• 32:46
  have
• 32:46
  this
• 32:46
  combination
• 32:47
  of
• 32:47
  insights
• 32:47
  and
• 32:47
  inspiration,
• 32:48
  get
• 32:49
  away
• 32:49
  from
• 32:49
  the
• 32:49
  cliches
• 32:50
  and
• 32:50
  also
• 32:50
  where
• 32:51
  you
• 32:51
  guys
• 32:52
  just
• 32:52
  kind
• 32:52
  of
• 32:52
  need
• 32:52
  to
• 32:52
  know
• 32:52
  a
• 32:52
  range
• 32:53
  of
• 32:53
  different
• 32:53
  perspectives
• 32:53
  so
• 32:54
  you
• 32:54
  can
• 32:54
  pick
• 32:54
  your
• 32:54
  own,
• 32:54
  like
• 32:55
  offering
• 32:55
  those.
• 32:55
  So
• 32:56
  more
• 32:56
  things
• 32:56
  like
• 32:57
  the
• 32:57
  retail
• 32:57
  rumble.
• 32:58
  And
• 32:58
  maybe
• 32:58
  that
• 32:58
  facilitated
• 32:59
  kind
• 33:00
  of
• 33:00
  the
• 33:00
  feeling
• 33:00
  that
• 33:00
  Sarah
• 33:01
  mentioned
• 33:01
  in
• 33:01
  the
• 33:01
  beginning.
• 33:01
  Like,
• 33:02
  there
• 33:02
  was
• 33:02
  a
• 33:02
  lot
• 33:02
  of,
• 33:02
  you
• 33:03
  know,
• 33:04
  constant
• 33:04
  chatter
• 33:05
  about,
• 33:05
  like,
• 33:05
  we
• 33:05
  don't
• 33:06
  really
• 33:06
  know
• 33:06
  the
• 33:06
  answers.
• 33:06
  And
• 33:06
  we're
• 33:07
  debating
• 33:07
  it
• 33:07
  too,
• 33:07
  as
• 33:07
  we
• 33:07
  go
• 33:08
  along,
• 33:08
  so.
• 33:09
  All
• 33:09
  right,
• 33:09
  last
• 33:09
  one.
• 33:10
  It's
• 33:10
  one
• 33:10
  of
• 33:11
  my
• 33:11
  favorite
• 33:11
  words
• 33:11
  to
• 33:11
  use,
• 33:12
  epiphany.
• 33:14
  Ben,
• 33:14
  what
• 33:14
  was
• 33:14
  your
• 33:14
  biggest
• 33:15
  epiphany
• 33:16
  that
• 33:16
  you
• 33:16
  now
• 33:16
  know
• 33:17
  coming
• 33:17
  out
• 33:17
  of
• 33:17
  this
• 33:17
  show
• 33:17
  that
• 33:18
  you
• 33:18
  didn't
• 33:18
  know
• 33:18
  going
• 33:18
  in?
• 33:19
  Yeah.
• 33:21
  The
• 33:21
  thing
• 33:21
  that's
• 33:21
  really
• 33:22
  made
• 33:22
  me
• 33:22
  stop
• 33:22
  and
• 33:23
  think
• 33:23
  differently
• 33:24
  is
• 33:25
  the
• 33:25
  number
• 33:26
  of
• 33:26
  conversations
• 33:26
  about
• 33:27
  how
• 33:27
  positive
• 33:28
  it
• 33:29
  is
• 33:29
  when
• 33:30
  people
• 33:30
  are
• 33:30
  spending
• 33:30
  more
• 33:31
  time
• 33:31
  on
• 33:31
  retailers,
• 33:32
  websites.
• 33:33
  So
• 33:33
  a
• 33:33
  number
• 33:34
  of
• 33:34
  different
• 33:34
  Times.
• 33:34
  It
• 33:35
  even
• 33:35
  came
• 33:35
  up
• 33:35
  in
• 33:35
  the
• 33:36
  keynote
• 33:36
  today.
• 33:36
  Macy's
• 33:37
  talked
• 33:37
  proudly
• 33:38
  about
• 33:38
  people
• 33:38
  now
• 33:39
  spending
• 33:39
  two
• 33:39
  to
• 33:39
  three
• 33:39
  more
• 33:40
  times
• 33:40
  on
• 33:41
  their
• 33:41
  site
• 33:41
  than
• 33:41
  they
• 33:41
  used
• 33:42
  to
• 33:42
  when
• 33:42
  they
• 33:42
  used
• 33:42
  their
• 33:42
  AI
• 33:42
  tools.
• 33:43
  Other
• 33:43
  people
• 33:43
  have
• 33:44
  said
• 33:44
  when
• 33:44
  they're
• 33:44
  spending
• 33:45
  time
• 33:45
  using
• 33:45
  AI
• 33:46
  agents,
• 33:47
  AI
• 33:48
  answer
• 33:48
  engines,
• 33:49
  they're
• 33:49
  spending
• 33:49
  more
• 33:50
  time
• 33:50
  on
• 33:50
  it.
• 33:50
  And
• 33:51
  I
• 33:51
  think
• 33:51
  we've
• 33:51
  been
• 33:51
  spending
• 33:52
  so
• 33:52
  long
• 33:53
  thinking
• 33:53
  about
• 33:54
  the
• 33:54
  website
• 33:55
  as
• 33:55
  how
• 33:55
  do
• 33:55
  you
• 33:55
  optimize,
• 33:56
  how
• 33:56
  do
• 33:56
  you
• 33:56
  make
• 33:56
  it
• 33:56
  as
• 33:56
  quick
• 33:57
  as
• 33:57
  possible,
• 33:57
  how
• 33:57
  do
• 33:58
  you
• 33:58
  get
• 33:58
  people
• 33:58
  through?
• 33:58
  And
• 33:59
  that's
• 33:59
  been
• 33:59
  a
• 33:59
  real
• 33:59
  KPI
• 34:00
  time
• 34:00
  on
• 34:00
  site
• 34:01
  minimize.
• 34:01
  And
• 34:02
  now
• 34:02
  people
• 34:02
  are
• 34:02
  celebrating
• 34:03
  spending
• 34:04
  longer
• 34:04
  on
• 34:04
  site
• 34:04
  and
• 34:05
  building
• 34:05
  the
• 34:05
  brands
• 34:06
  and
• 34:06
  telling
• 34:06
  the
• 34:06
  stories.
• 34:06
  And
• 34:07
  I
• 34:07
  think
• 34:07
  it's
• 34:08
  really
• 34:08
  making
• 34:08
  me
• 34:09
  think
• 34:09
  about
• 34:10
  what
• 34:10
  a
• 34:10
  good
• 34:10
  website
• 34:11
  and
• 34:11
  a
• 34:11
  good
• 34:11
  e
• 34:12
  comm
• 34:12
  experience
• 34:12
  looks
• 34:13
  like.
• 34:13
  Yeah.
• 34:13
  And
• 34:13
  where
• 34:14
  do
• 34:14
  you
• 34:14
  focus
• 34:14
  your
• 34:14
  resources
• 34:15
  on
• 34:15
  trying
• 34:15
  to
• 34:15
  improve
• 34:16
  first
• 34:16
  and
• 34:16
  foremost.
• 34:16
  Right.
• 34:17
  You
• 34:17
  focus
• 34:17
  there.
• 34:17
  Do
• 34:17
  you
• 34:18
  focus
• 34:18
  on
• 34:18
  the
• 34:18
  engines?
• 34:18
  What?
• 34:19
  Exactly.
• 34:19
  Maybe
• 34:20
  I'll
• 34:20
  jump
• 34:20
  in
• 34:20
  next
• 34:21
  because
• 34:21
  mine
• 34:21
  kind
• 34:21
  of
• 34:21
  expands,
• 34:22
  expands
• 34:22
  on
• 34:22
  and
• 34:22
  generalizes
• 34:23
  a
• 34:23
  bit
• 34:23
  from
• 34:24
  Ben's,
• 34:24
  but
• 34:25
  kind
• 34:25
  of
• 34:25
  builds
• 34:25
  on
• 34:26
  the
• 34:26
  same
• 34:26
  conversation.
• 34:27
  Right.
• 34:27
  I
• 34:27
  think
• 34:28
  we
• 34:28
  are
• 34:29
  at
• 34:29
  a
• 34:29
  moment
• 34:29
  where
• 34:30
  everybody
• 34:30
  is
• 34:30
  talking
• 34:30
  so
• 34:31
  much
• 34:31
  about
• 34:31
  speed.
• 34:31
  Faster,
• 34:32
  faster,
• 34:32
  faster.
• 34:32
  And
• 34:33
  to
• 34:33
  your
• 34:33
  point
• 34:33
  about
• 34:34
  like,
• 34:35
  sometimes
• 34:35
  slower
• 34:36
  is
• 34:36
  actually
• 34:36
  better.
• 34:36
  If
• 34:36
  somebody's
• 34:37
  engaging
• 34:37
  with
• 34:37
  content,
• 34:38
  if
• 34:38
  somebody's
• 34:38
  finding
• 34:38
  exactly
• 34:39
  that
• 34:39
  thing
• 34:39
  that
• 34:39
  they
• 34:39
  want,
• 34:40
  if
• 34:40
  somebody's
• 34:41
  enjoying
• 34:41
  the
• 34:41
  content
• 34:42
  on
• 34:43
  a
• 34:43
  retailer's
• 34:44
  website,
• 34:44
  more
• 34:45
  time
• 34:45
  is
• 34:45
  good.
• 34:46
  And
• 34:46
  Barbara
• 34:46
  Cameron
• 34:47
  actually
• 34:47
  talked
• 34:47
  about
• 34:47
  kind
• 34:48
  of
• 34:48
  sometimes
• 34:49
  slowing
• 34:49
  down
• 34:49
  in
• 34:49
  stores
• 34:50
  as
• 34:50
  well
• 34:50
  is
• 34:50
  the
• 34:51
  important
• 34:51
  thing.
• 34:51
  When
• 34:51
  associates
• 34:52
  are
• 34:53
  free
• 34:53
  to
• 34:53
  kind
• 34:53
  of
• 34:54
  notice
• 34:54
  a
• 34:54
  customer
• 34:55
  who's
• 34:55
  harried
• 34:56
  and
• 34:56
  looks
• 34:56
  worried
• 34:57
  and
• 34:57
  kind
• 34:57
  of
• 34:57
  really
• 34:58
  engage
• 34:58
  with
• 34:58
  them
• 34:58
  and
• 34:59
  help
• 34:59
  a
• 34:59
  customer
• 34:59
  out,
• 35:00
  those
• 35:00
  are
• 35:00
  the
• 35:01
  moments
• 35:01
  that
• 35:01
  shoppers,
• 35:02
  again,
• 35:02
  whether
• 35:02
  it's
• 35:02
  in
• 35:02
  the
• 35:03
  digital
• 35:03
  world
• 35:03
  or
• 35:03
  in
• 35:03
  the
• 35:03
  physical
• 35:04
  world
• 35:04
  or
• 35:04
  across
• 35:04
  the
• 35:05
  two,
• 35:05
  those
• 35:05
  are
• 35:05
  the
• 35:05
  moments
• 35:06
  shoppers
• 35:06
  remember.
• 35:06
  And
• 35:07
  they're
• 35:07
  the
• 35:07
  things
• 35:07
  that
• 35:07
  in
• 35:08
  this
• 35:08
  day
• 35:08
  and
• 35:08
  age
• 35:08
  build
• 35:09
  loyalty.
• 35:09
  So
• 35:09
  I
• 35:09
  think
• 35:10
  in
• 35:10
  this
• 35:10
  very,
• 35:10
  very
• 35:11
  speed
• 35:11
  focused
• 35:12
  moment,
• 35:12
  and
• 35:12
  I'm
• 35:12
  not
• 35:12
  saying
• 35:13
  that
• 35:13
  speed
• 35:13
  isn't
• 35:13
  important,
• 35:14
  I
• 35:14
  think
• 35:14
  knowing
• 35:15
  when
• 35:15
  to
• 35:15
  go
• 35:15
  slower,
• 35:16
  knowing
• 35:16
  when
• 35:16
  a
• 35:17
  little
• 35:17
  friction
• 35:17
  is
• 35:18
  actually
• 35:18
  a
• 35:18
  good
• 35:18
  thing
• 35:18
  for
• 35:18
  the
• 35:19
  customer
• 35:19
  is
• 35:19
  super
• 35:20
  important.
• 35:21
  Sarah.
• 35:21
  All
• 35:22
  right.
• 35:22
  I
• 35:22
  think
• 35:22
  I
• 35:23
  said
• 35:23
  it
• 35:23
  a
• 35:23
  little
• 35:23
  bit
• 35:23
  about
• 35:24
  the
• 35:24
  kind
• 35:24
  of
• 35:24
  resilience
• 35:25
  of
• 35:25
  retail,
• 35:26
  but
• 35:26
  like,
• 35:26
  I
• 35:26
  think
• 35:26
  that
• 35:26
  resilience
• 35:27
  and
• 35:27
  community
• 35:27
  were
• 35:28
  probably
• 35:28
  the
• 35:28
  biggest
• 35:28
  epiphany.
• 35:29
  And
• 35:29
  by
• 35:29
  that
• 35:29
  I
• 35:30
  mean
• 35:30
  whether
• 35:31
  it
• 35:31
  is
• 35:31
  on
• 35:31
  these
• 35:31
  stages
• 35:32
  or
• 35:32
  whether
• 35:32
  it
• 35:32
  is
• 35:33
  in
• 35:33
  the
• 35:33
  halls
• 35:33
  and
• 35:33
  in
• 35:34
  other
• 35:34
  conversations
• 35:34
  and
• 35:34
  other
• 35:35
  meetings,
• 35:35
  like,
• 35:36
  we
• 35:36
  will
• 35:36
  all
• 35:36
  keep
• 35:37
  talking
• 35:37
  about
• 35:37
  the
• 35:37
  things
• 35:37
  that
• 35:38
  are
• 35:38
  impacting
• 35:38
  us
• 35:38
  and
• 35:38
  we
• 35:38
  will
• 35:38
  all
• 35:39
  figure
• 35:39
  it
• 35:39
  out.
• 35:39
  And
• 35:39
  I
• 35:39
  think,
• 35:40
  I
• 35:40
  mean,
• 35:40
  the
• 35:40
  number
• 35:40
  of
• 35:40
  conversations
• 35:41
  I
• 35:41
  had
• 35:41
  that
• 35:41
  Were
• 35:42
  not
• 35:42
  necessarily
• 35:43
  on
• 35:43
  the
• 35:43
  stage
• 35:43
  about
• 35:43
  the
• 35:44
  impact
• 35:44
  of
• 35:44
  tariffs.
• 35:44
  And
• 35:45
  are
• 35:45
  you
• 35:45
  selling,
• 35:46
  Are
• 35:46
  you
• 35:46
  selling
• 35:46
  it
• 35:46
  versus
• 35:47
  are
• 35:47
  you
• 35:47
  actually
• 35:47
  going
• 35:47
  after
• 35:48
  your
• 35:48
  tariff
• 35:48
  money?
• 35:48
  And
• 35:49
  those
• 35:49
  type,
• 35:49
  like,
• 35:49
  everybody's
• 35:50
  sharing
• 35:50
  how
• 35:50
  they're
• 35:50
  doing
• 35:51
  it
• 35:51
  and
• 35:51
  sharing
• 35:51
  their
• 35:51
  contacts.
• 35:52
  You
• 35:52
  know,
• 35:52
  the
• 35:53
  rulings
• 35:53
  this
• 35:53
  week
• 35:53
  in
• 35:54
  terms
• 35:54
  of
• 35:55
  mental
• 35:55
  health
• 35:55
  impact
• 35:55
  on
• 35:56
  minors
• 35:56
  with
• 35:56
  social.
• 35:57
  Those
• 35:57
  conversations
• 35:58
  are
• 35:58
  happening
• 35:58
  and
• 35:58
  what
• 35:58
  are
• 35:58
  you
• 35:59
  thinking
• 35:59
  about
• 35:59
  it
• 35:59
  and
• 35:59
  how
• 35:59
  are
• 35:59
  you
• 35:59
  going
• 36:00
  about
• 36:00
  this?
• 36:00
  You
• 36:01
  know,
• 36:01
  the
• 36:01
  change
• 36:02
  is
• 36:02
  so
• 36:02
  constant,
• 36:03
  like,
• 36:03
  whether
• 36:04
  it
• 36:04
  is
• 36:04
  AI
• 36:04
  related
• 36:04
  or
• 36:05
  not,
• 36:05
  the
• 36:05
  change
• 36:05
  is
• 36:06
  so
• 36:06
  constant
• 36:06
  and
• 36:06
  the
• 36:07
  pressure
• 36:07
  is
• 36:07
  so
• 36:07
  constant
• 36:08
  that,
• 36:08
  like,
• 36:09
  the
• 36:09
  resilience
• 36:09
  is
• 36:10
  there,
• 36:10
  but
• 36:10
  also
• 36:10
  like
• 36:11
  the
• 36:11
  community
• 36:12
  exists
• 36:12
  to
• 36:13
  continue
• 36:13
  to
• 36:13
  help
• 36:13
  one
• 36:13
  another.
• 36:14
  And
• 36:14
  I
• 36:14
  think,
• 36:14
  I
• 36:14
  think
• 36:14
  the
• 36:15
  show
• 36:15
  not
• 36:15
  to
• 36:15
  pander
• 36:16
  to
• 36:16
  these
• 36:16
  guys,
• 36:16
  but
• 36:16
  the
• 36:16
  show
• 36:17
  does
• 36:17
  do
• 36:17
  a
• 36:17
  great
• 36:17
  job
• 36:17
  of
• 36:18
  creating
• 36:18
  those
• 36:19
  micro
• 36:19
  pockets
• 36:20
  of
• 36:20
  communities.
• 36:20
  And
• 36:20
  then
• 36:21
  there's
• 36:21
  so
• 36:21
  many,
• 36:21
  like,
• 36:21
  events
• 36:22
  and
• 36:22
  meetings
• 36:22
  and
• 36:22
  those
• 36:22
  things
• 36:22
  that
• 36:23
  happen.
• 36:23
  But
• 36:23
  I
• 36:23
  think
• 36:24
  that
• 36:24
  resilience
• 36:24
  and
• 36:24
  community
• 36:25
  was
• 36:25
  like
• 36:25
  stronger.
• 36:26
  Honestly,
• 36:26
  it's
• 36:26
  stronger
• 36:26
  than
• 36:26
  I've
• 36:27
  seen
• 36:27
  it
• 36:27
  since
• 36:27
  probably
• 36:27
  like
• 36:28
  2020.
• 36:28
  2021.
• 36:29
  Well,
• 36:29
  we've
• 36:30
  been
• 36:30
  through
• 36:30
  a
• 36:30
  heck
• 36:30
  of
• 36:30
  a
• 36:30
  lot
• 36:30
  as
• 36:31
  an
• 36:31
  industry
• 36:31
  in
• 36:31
  the
• 36:31
  last
• 36:32
  five
• 36:32
  to
• 36:32
  six
• 36:32
  years,
• 36:32
  without
• 36:33
  a
• 36:33
  doubt.
• 36:34
  You
• 36:34
  know,
• 36:34
  for
• 36:34
  me,
• 36:35
  I
• 36:35
  think
• 36:35
  when
• 36:35
  I.
• 36:36
  When
• 36:36
  I
• 36:36
  think
• 36:36
  about
• 36:37
  retail
• 36:37
  innovation,
• 36:37
  like,
• 36:37
  if
• 36:37
  you
• 36:38
  look
• 36:38
  at
• 36:38
  it
• 36:38
  historically,
• 36:38
  it
• 36:39
  cycles
• 36:39
  every
• 36:39
  30,
• 36:40
  you
• 36:40
  know,
• 36:40
  30
• 36:40
  to
• 36:40
  40
• 36:41
  years,
• 36:41
  right?
• 36:41
  And
• 36:41
  the
• 36:41
  last
• 36:41
  big
• 36:42
  innovation
• 36:42
  we
• 36:42
  had
• 36:42
  was
• 36:42
  E
• 36:42
  commerce.
• 36:43
  And
• 36:43
  now
• 36:43
  we're
• 36:43
  in
• 36:43
  the
• 36:43
  age
• 36:43
  of
• 36:44
  AI.
• 36:44
  And
• 36:45
  what's
• 36:45
  interesting
• 36:45
  to
• 36:46
  me
• 36:46
  is
• 36:46
  that.
• 36:47
  And
• 36:47
  it
• 36:47
  goes
• 36:47
  back
• 36:47
  to
• 36:48
  why
• 36:48
  I
• 36:48
  started
• 36:48
  with
• 36:49
  the
• 36:49
  first
• 36:49
  two
• 36:49
  topics
• 36:50
  that
• 36:50
  we
• 36:50
  started
• 36:50
  today,
• 36:50
  like,
• 36:51
  you
• 36:51
  know,
• 36:51
  where
• 36:51
  is
• 36:51
  agentic
• 36:52
  AI
• 36:52
  and
• 36:52
  is
• 36:52
  it
• 36:53
  overhyped?
• 36:54
  And
• 36:54
  I
• 36:54
  think
• 36:54
  where
• 36:55
  we
• 36:55
  came
• 36:55
  down
• 36:55
  as
• 36:56
  a
• 36:56
  panel
• 36:56
  was
• 36:56
  that
• 36:56
  we
• 36:56
  said
• 36:57
  that,
• 36:57
  you
• 36:57
  know,
• 36:57
  on
• 36:57
  the
• 36:57
  consumer
• 36:58
  side,
• 36:58
  the
• 36:59
  agentic
• 36:59
  side
• 36:59
  is
• 37:00
  pretty
• 37:00
  probably
• 37:00
  overhyped
• 37:01
  in
• 37:01
  terms
• 37:01
  of
• 37:01
  the
• 37:01
  impact
• 37:02
  it's
• 37:02
  potentially
• 37:03
  going
• 37:03
  to
• 37:03
  have
• 37:03
  on
• 37:03
  the
• 37:03
  way
• 37:04
  consumers
• 37:04
  shop,
• 37:04
  or
• 37:04
  at
• 37:05
  least
• 37:05
  we're
• 37:06
  tempering
• 37:06
  our
• 37:06
  bets.
• 37:07
  For
• 37:07
  me,
• 37:08
  I
• 37:08
  think,
• 37:08
  though,
• 37:08
  where
• 37:09
  the
• 37:09
  transformation
• 37:09
  is
• 37:10
  really
• 37:10
  going
• 37:10
  to
• 37:10
  happen
• 37:10
  and
• 37:10
  where
• 37:11
  the
• 37:11
  innovation
• 37:11
  in
• 37:11
  retail
• 37:12
  comes
• 37:12
  into
• 37:12
  play
• 37:12
  is
• 37:12
  actually
• 37:13
  how
• 37:13
  we
• 37:13
  do
• 37:13
  our
• 37:13
  work,
• 37:14
  how
• 37:14
  we
• 37:14
  organize
• 37:15
  our
• 37:15
  organizations
• 37:15
  around
• 37:16
  things
• 37:16
  and
• 37:16
  therefore
• 37:17
  what
• 37:17
  the
• 37:17
  resulting
• 37:18
  business
• 37:18
  models
• 37:18
  are
• 37:19
  and
• 37:19
  what
• 37:19
  the
• 37:19
  new
• 37:20
  income
• 37:20
  statements
• 37:20
  of
• 37:21
  retail
• 37:21
  are
• 37:22
  going
• 37:22
  forward
• 37:22
  into
• 37:23
  2030
• 37:23
  and
• 37:23
  into
• 37:24
  2040.
• 37:24
  I
• 37:24
  think
• 37:25
  that's.
• 37:25
  That's
• 37:26
  the
• 37:26
  interesting
• 37:26
  change
• 37:26
  that's
• 37:27
  coming
• 37:27
  on
• 37:27
  the
• 37:27
  horizon
• 37:28
  for
• 37:28
  me
• 37:28
  that
• 37:28
  I
• 37:28
  hadn't
• 37:29
  really
• 37:29
  thought
• 37:29
  about
• 37:29
  until
• 37:29
  I
• 37:30
  came
• 37:30
  to
• 37:30
  this
• 37:30
  show.
• 37:30
  So
• 37:31
  nice
• 37:31
  job
• 37:31
  to
• 37:31
  you
• 37:31
  guys
• 37:32
  for
• 37:32
  getting
• 37:32
  me
• 37:32
  to
• 37:32
  think
• 37:32
  about
• 37:32
  that.
• 37:33
  That
• 37:33
  was
• 37:33
  really
• 37:33
  good.
• 37:34
  All
• 37:34
  right,
• 37:34
  that
• 37:35
  wraps
• 37:35
  us
• 37:35
  up.
• 37:35
  Let's
• 37:35
  give
• 37:36
  a
• 37:36
  big
• 37:36
  round
• 37:36
  of
• 37:36
  applause
• 37:37
  to
• 37:37
  our
• 37:37
  panelists
• 37:40
  and
• 37:40
  as
• 37:40
  I
• 37:41
  say,
• 37:41
  at
• 37:41
  the
• 37:41
  conclusion
• 37:42
  of
• 37:42
  every
• 37:42
  one
• 37:42
  of
• 37:42
  our
• 37:43
  Omnitalk
• 37:43
  podcasts,
• 37:44
  it's
• 37:44
  always
• 37:44
  applicable
• 37:45
  in
• 37:45
  Vegas.
• 37:45
  It's
• 37:45
  always
• 37:45
  applicable
• 37:46
  these
• 37:46
  days
• 37:46
  when
• 37:46
  you
• 37:46
  head
• 37:47
  to
• 37:47
  the
• 37:47
  airport.
• 37:47
  Be
• 37:48
  careful
• 37:48
  out
• 37:48
  there.