Anne 0:09
Hello You’re listening to the Omnitalk Fast Five brought to you in partnership with Microsoft, the a&m consumer and retail group, takeoff, sezzle and silk. The Omnitalk Fast Five podcast is a podcast that we hope makes you feel a little smarter. But most importantly a little happier each week too. Today is December 1 2022. I’m your host Anne Mezzzinga
Chris 0:30
And I’m Chris Walton
Anne 0:31
And we are here once again to discuss all the headlines making waves in the world of omni channel retailing and apparently are shocked that it is already December
Chris 0:38
December 1. Yeah, can you hear my wow there? I’m like Yeah, yeah, although I’m not surprised.
Anne 0:42
An Audible Wow.
Chris 0:43
I’m not surprised because it’s 15 degrees outside.
Anne 0:45
I know
Chris 0:45
And I’m freezing in the studio right now.
Anne 0:47
Winter i s no longer coming. It is here Chris.
Chris 0:49
It is. It’s been here for a while actually. And it’s sucks I hate it. Can’t take it anymore Anne
Anne 0:55
No, but
Chris 0:56
Something’s gotta give
Anne 0:57
Something’s got to give. But you know what the best part of December 1 is?
Chris 1:00
What?
Anne 1:00
All the Spotify year in reviews come out. And
Chris 1:03
That was pretty sweet.
Anne 1:05
It is my favourite time of year. I mean, yes, there’s a podcast year in review, which we have to talk about. But also
Chris 1:11
You get spotify because I’m not a big spotify guy to Spotify. I’ve never listened to anything on spotify.
Anne 1:14
This is where I don’t understand you as a human being when you’re like I’m not that into music. Like I don’t I don’t care of like what? Yes,
Chris 1:23
I have probably I probably have not played a single song on my phone all year long. All year long. Yeah, i know, it’s crazy, huh?
Anne 1:31
Not one?
Chris 1:32
No, no, the only time I listen music’s in my car satellite radio you know like that’s it.
Anne 1:37
That’s a travesty.
Chris 1:38
I know it’s nuts though right?
Anne 1:39
It is but this is like the most fun time of the year because I love like my Spotify is
Chris 1:44
What was highlights from your Spotify knowledge that was dropped on you.
Anne 1:48
I mean tonnes of brandy Carlisle I like read I read her memoir at the beginning of the year and now like brandy Carlisle but then you have like juice world and all these like crazy songs that my kids are listening to end in kanto like it’s all over the board’s it’s this Spotify playlists
Chris 2:07
Which is funny because shout out to Lee Dunbar loyal listener who he showed his Spotify his I think it was his family Spotify list yes on LinkedIn yesterday and we were number one for him.
Anne 2:17
That’s amazing
Chris 2:18
Because we’re part of his like Saturday journey to Walmart for pickup order he puts us in listens to us on the way it gets away from the wife and the family. I think it like listens to us because I imagine the rest of the family’s not listening to me talk but Lee correct me if I’m wrong, but thanks man Shout out to you.
Anne 2:31
I mean it’s a family show we do a lot to keep this as a somewhat family friendly show
Chris 2:36
Sometimes we get on a few reds. But you know, but But yeah, but Anne the statistics that Spotify shared with us were pretty sweet. Like, I was pretty blown away. Like, do you know, we’re a top 10 podcast internationally, like globally
Anne 2:47
Top 10%
Chris 2:48
We’re in the top 10% of all podcasts that are listened to globally Anne
Anne 2:53
That’s amazing.
Chris 2:54
That is crazy.
Anne 2:55
Yeah, I mean, it was one shocker after another with all the like groovy transitions that Spotify does between every one of those steps you have to sift through but but yes, the top 10 most followed podcast, Chris
Chris 3:09
Yeah. Top 10% Yeah,
Anne 3:10
Yes. Also make meaning that we have what we get the label of the enthusiast as our audience profile. Did you see that?
Chris 3:18
Yeah, right. I did. Yeah. The enthusiast made me think of my target days.
Anne 3:21
It did?
Chris 3:21
Yeah. Oh, for sure. Like all those customer segments. But yeah, that’s who we had, right?
Anne 3:25
Yes.
Chris 3:25
What’s your super fans? By that they met they met our super fans, then. Thank you to all of you. Yeah, when a podcast episode comes out, you download it right away, which is huge. That’s amazing. And the other part to that I actually get off this in a second but the other part I was especially proud of you want to say thank you to everybody for was our listenership Anne was up 100% This past year, and this is year four of us this that was after no this is your five of us doing a podcast so that was off of our fourth year we’re up 100%
Anne 3:55
So you everyone listening we love you so much. This is such a an amazing thing. Thank you for listening. Thank you for being a part of this show. We do this for you we have so much fun doing it and and yeah, don’t forget to leave your your comments for us too. We want to hear your feedback.
Chris 4:12
Yeah leave us your review.
Anne 4:13
Leave us your reviews. Just put a little thumbs up in the review whatever whatever strikes your fishing we’d be better Yeah,
Chris 4:20
Tell us what we can do better Anne
Anne 4:21
I think that’s a really good suggestion. Yes, absolutely.
Chris 4:24
Make me a better man that’s
Anne 4:26
I think that they can’t find a better man.
Chris 4:30
Yeah, it’s different different words. Yeah. But hey, it works. Alright, let’s let’s
Anne 4:33
I think they want they want us to get to the show.
Chris 4:36
Yeah let’s get this show going Anne. All right. Today’s fast. Five headlines are brought to you with the help and support of manifest. Manifest is the who’s whose conference in supply chain and it is January 31. To February 2 in Las Vegas. I was just in Vegas. Anne And I can’t wait to get
Anne 4:51
You warmed it up for us?
Chris 4:52
I did I spent the weekend with the inlaws and I can’t wait to get back on metok Fans can still save $200 on their registration by heading dang Anne.
Anne 5:00
That’s a lot
Chris 5:00
That’s manife.st/omnitalk. Damn Daniel. That’s so great. Bring back the days. Alright in today’s Fast Five we’ve got news on target rolling out Starbucks curbside pickup to 250 stores approximately what we’re calling in AWS retail technology product launch onslaught. Very proud of how I wrote that. Right it’s new small format store concept Claire’s opening up shop and shops inside of Macy’s. But first we take off with Walmart
Anne 5:32
Alright, so we are gonna go to headline number one Chris that is right according to data from CAP defy our new favourite data source apparently. Walmart took the top spot among shoppers who are searching for online Black Friday discounts. According to CNBC, the top spot had previously been occupied by Amazon last year. But not this year. Amazon dropped all the way down to fourth place behind Walmart, Target and Kohl’s. Yes, Kohl’s
Chris 6:01
What the price is not like the other
Anne 6:02
yes in that order. Shocking, Chris, I want to know what your thoughts are. But sodas a&m, they are going to kick things right off here asking you I’ll put you on the spot question
Chris 6:14
December starting off hot
Anne 6:15
About this about this very topic. So they want to know Walmart is overtaking Amazon in Black Friday searches this year, it’s big news. But even more surprising is Amazon falling into that fourth slot. What do you think this says about the state of consumer shopping inflationary impacts and the relative value propositions and perceptions a big retailer discounting that Amazon was behind Walmart target and Kohl’s in this Black Friday discount search?
Chris 6:41
Ooh, fun question Anne. I don’t know, I don’t know where you stand on this, because we didn’t talk about this at all heading into the show. So I’m curious what your point of view is, and if it differs from mine, but, you know, honestly, in answering that question, I think I don’t think it says much at all.
Anne 6:53
Okay
Chris 6:53
You know, I see that for two reasons. Number one, I don’t know about you, but I can’t make heads or tails of the data coming out of Black Friday. Right now
Anne 7:00
There’s a lot out there
Chris 7:01
All over the board.
Anne 7:03
It’s all about the headlines.
Chris 7:04
It is
Anne 7:04
Which it always
Chris 7:05
It’s always about the sound bites, right. But like as examples of that, like Kohl’s being number three, like I read a report yesterday that Kohl’s had the worst performance? Yes, they’re expected worst performance of any of the retailers. And then like Costco is performance came out for the last month today this morning. And it was also not good.
Anne 7:21
Yeah.
Chris 7:21
So like, I’m just having trouble reading anything of this. And the other point I would make too, which I think is important is we can’t forget that Amazon had an October Prime Day this year, or early access day.
Anne 7:31
Yeah.
Chris 7:32
Which means they’re gonna pull some of that demand for it, which as we talked about, on the show, last week, again, prompted by a&m was probably the smart move for them to do so in a lot of ways. It’s not surprising that people are looking for it to Amazon less than these other players. So, so net net for me, you know, while the headline is good for catify, huge shout out to catify.
Anne 7:50
Yeah
Chris 7:50
I don’t think it really tells the story. We’re not going to know until the season’s over. But what do you think? I agree?
Anne 7:54
Yeah, I think the headline is a little misleading here, because it’s Black Friday deal searches, not like sales, not like performance. And
Chris 8:03
It’s not conversion yeah.
Anne 8:04
Yeah, right. The biggest thing for me here, because I was shocked. I was like, How is this even possible? But you mentioned Amazon doing the like prime early access sale in October and moving their sales up, like for a cyber week? And last year I did. I did an exhaustive search. So people correct me if I’m wrong. My memory is terrible. I have way too much going on. But I don’t the Amazon didn’t do an October Prime Day event.
Chris 8:30
That’s right, they did one the year before, in 2020.
Anne 8:33
So I think that the demand likely let you know, last year for Black Friday and Cyber Monday for deals was going to Amazon because they were up and neck and neck with Walmart, Target and everyone else. So I don’t think that you can do a direct apples to apples comparison because of the Prime Day coming up this year. And I think that, you know, from a consumers perspective, even as I was searching for my deals, like you know that Walmart and Target especially had been so overt about price matching through the end of the year. So I wonder if that wasn’t driving some consumers to be like well, we’re just gonna go to Amazon and target or sorry to Walmart and Target first because we know that they’re they’re gonna have to price match so hopefully they’ve gone ahead with the deals and kind of impacted search in that way.
Chris 9:17
Yeah, that’s interesting, too. That’s the kind of those are great points and like that’s inching to so far like every one search on Amazon the really price discerning shopper is doing another search on Walmart and another shirt search on target potentially for the price match guarantee. Yeah
Anne 9:28
Yeah and and I still think there’s something to being able to get something that day, like if you’re gonna go do if you want that TV
Chris 9:35
100%
Anne 9:35
On Thursday, or on Friday, you know, whatever it might be, you can do that. Yeah, Walmart and Target.
Chris 9:41
That’s a great point. Yeah, the immediacy factor. All right, headline number two great, great openings headline I love it
Anne 9:47
Bringing the heat today
Chris 9:48
Yeah, heat because we need it. All right, according to our friends at Retail TouchPoints shout out to our friend Alicia there she’s awesome. Target has rolled out Starbucks, with curbside pickup to roughly 250 stores The new service is now available at select stores in California, Delaware, Minnesota, New Jersey, New York, Pennsylvania, Texas, Washington, and everyone’s favourite West Virginia. Whoo shout out. Yeah, right. Rocky Top is just got. Here’s how it works. Anne this is important. So listen closely because these are some important delineations that we want to talk about on the show. Starbucks orders can be placed after the target customer receives confirmation that their standard curbside order is ready at that time, the customer can indicate that they’re in route via the target app and place an order from the full Starbucks cafe menu.
Anne 9:48
Yes
Chris 9:50
Once they have made their selection Anne an add for driver option appears to let them pay and have it added to the rest of their pickup order. Once the customer then indicates that they are on their way a Starbucks associate then begins preparing the order the customer then parks in the designated driver barrier and taps. I’m here in the target app tab there entirely just like that, yes, you have to make that sound you have to make that exclamation when you tap the button. Then their entire order is delivered to their car inclusive of their Starbucks. And you tried this out recently you were one of the first people to try this. What is your review?
Anne 11:10
Well, because Ben shine was texting you I was like, it’s his. It’s live. It’s live. I know. And I was I immediately was like I haven’t tried this. I have to try this. It was amazing. Amazing. Some of us on the show may have been sceptical about target and Starbucks ability to pull this off. I’m not naming any names here. But it worked out so well. I was there a day before Thanksgiving. Crazy mass pandemonium happening in the parking lot in the Target store people getting whatever they could for Thanksgiving holiday, but it was perfect. The It was fast. I pulled up and I was like alright, I’m gonna get this coffee order.
I ordered two things one for me one for my son ordered food and coffee in the same order. And it works like a dream I got my my target pickup order. This nice gentleman brought it out to my car smiling face handed me a cute little Starbucks bag. They even have like cut up because I had two drinks, they had cut the little drink holder in half so that they were like it was resting inside the target bag so he could drop it off on it. To a degree. I just I love this so much. I really I just want the ability, though to just order coffee.
Anne 12:24
You do? Yes. See that?
Anne 12:26
What what are you thoughts?
Chris 12:27
That’s my point with a to like, and I can’t wait to try it out myself. I’m gonna try to give it a shot tomorrow. But I think you’re right. And you kudos to you for calling me out on that. Because I did think this was going to be very logistically hard. So the fact that it worked that well is an incredible, incredible achievement. So kudos to everyone we know at Target. And everyone we don’t know for pulling this off because it is pretty impressive.
Anne 12:46
Yes.
Chris 12:47
But I’m with you. Like there’s still parts of this that make it feel like expect more pay more to me in a lot of ways because and by the expect more pay more. It’s, you can have it but you literally are paying more. You’re ordering something, and it’s an add on.
Anne 13:02
Yeah
Chris 13:02
So we’re getting more from you as a customer, which to your point I want to know like, why can’t I just order a coffee curbside? Why can’t that be part of it? And maybe that’s where they’re going. But
Anne 13:12
Cos you can’t leave target without spending $50 They’re gonna make sure it happens whether it’s curbside or not.
Chris 13:17
I know but that’s what that’s what bugs me about it. That’s why like when I go back to my merchandising days, it just doesn’t feel like it’s fully in the expect more Payless ethos yet to me, it feels like it’s built solely to entice the add on slash impulse purchase.
Anne 13:29
Yeah
Chris 13:29
Which targets by not the only one, they’ve likely lost a tonne of Starbucks volume because of how they’ve gone into curbside pickup. So that’s my thoughts on it. I love to see them go that route. But hey, it’s early. Like we always say on the show, it’s early, they’ve just tested, they’re basically still testing it into under 50 stores. Maybe that day comes. I hope it does, but I’m gonna try it out. And I’m gonna report back. I
Anne 13:50
Can’t wait until there’s more added to the selection. And I think if you are if you are in one of the brands, who is in the checkout lane, you need to be paying attention to this because if they have figured out the technology, the operational elements to execute on this, you are going to be wanting to get that gum the candy. We’re gonna be speaking at the NCAA conference in a little bit here like people pay attention because this is going to change exactly like how people are getting accustomed to with Starbucks nonetheless, like
Chris 14:23
It’s a great point too. The tricky part with the checklist items is those aren’t always located in the inventory isn’t always visible in the stores to depending on which store you’re talking about and which brands you’re talking about all that so it gets really tricky, but you’re right. Why can I get a pack of gum the same way? Or a coke or a Gatorade? Or a bag of ruffles or Doritos like we’re always talking about on the show and like yeah, if they offered a Dorito you know, oh my god
Anne 14:45
Yeah, that was like my we released the fox trot video this week and like that was one of the somebody asked like, what did you think was so great about foxtrot? And I was like, I mean I can get Doritos and cheese played and have breakfast taco all in the same spot like
Chris 14:59
those a Pop up Like, do you want to bag a Twizzlers? sucker for that deal? Right, like as I’m getting my order 100%. All right.
Anne 15:05
All right, let’s go to headline number three, AWS announced a flurry of new retail tech product launches this week, two in particular that caught our attention. So first AWS supply chain. Now AWS supply chain connects to a retailer’s existing enterprise resource planning or ERP and supply chain management system without requiring replatforming upfront licencing fees or long term commitments, and then provides machine learning powered actionable insights and also offers built in contextual collaboration. digest that for a moment,
Chris 15:40
oh, I am Anne,
Anne 15:41
take a deep breath
Chris 15:42
fully digesting.
Anne 15:43
Second, they’re also offering AWS cleanrooms, which help customers and their partners more easily and securely match, analyse and collaborate on their combined datasets without sharing or revealing underlying data. Chris,
Chris 15:56
Yeah,
Anne 15:57
I’m gonna go to you for the expert analysis on this one, because I had to read these six times. So I’m gonna
Chris 16:03
Yeah I know it’s tricky. It is something worth digesting for all those listening you may need you may need some a resolved to help you with that digestion
Anne 16:10
Of what
Chris 16:10
Prilosec you know, one of those antacid medications,
Anne 16:13
you just say prilosec? Why do you have to like do the 25 cent like, drug name of it?
Chris 16:19
I don’t know. Because that’s how I roll. I don’t know. Like
Anne 16:22
I mean, of course, it’s how you roll. I’m just saying,
Chris 16:24
What I’m gonna say Tums, it’s not that funny,
Anne 16:26
We’re in the top 10% of podcasts, listen to internationally, like, let’s give the people a generic term.
Chris 16:33
At this point, we likely were. Alright. Alright, here’s my thoughts on it. I love these announcements, because they both I think show how smart Amazon is.
Anne 16:41
Okay.
Chris 16:42
And the reason I says you take two areas where there’s going to be a flurry of activity in the next year. We’ve talked about this a lot on our show. We talked about it with Microsoft. Yeah. And those two areas are supply chain upgrades.
Anne 16:53
Yeah
Chris 16:53
Which retailers are fast and furiously trying to do. And also retail media networks.
Anne 16:58
Yes.
Chris 16:58
Which is one point that you make a lot. And you brought it up in the in the Microsoft podcast, too, which is, you have to give the retailers and the brands, really the brands that are using your retail media network, to understand that they’re going to have very good and clean data to be able to take action on what they’re seeing.
Anne 17:12
Yeah.
Chris 17:12
And so Amazon by this announcement is essentially setting themselves up to give retailers the backbone to be efficient at both those things. So I think it’s brilliant. The only question I have is how many retailers will take Amazon up on this absolute but my guess is after seeing Kwik Trip, and Hudson news, sign up for Amazon’s just walk out technology, which by the way, coincidentally is another offshoot of the of the AWS platform. I think it’s going to be more than people think, as well. So but that’s my thought.
Anne 17:39
Yeah.
Chris 17:39
And also, if you look at the the AWS list of clients,
Anne 17:43
that’s true,
Chris 17:43
there are a hell of a lot more retailers on there than I expected. And some big retailers.
Anne 17:47
Yeah, like Neiman Marcus, there. I mean, there is some larger retailers out there. Is this a smart move by Amazon? Of course, yes. You know, they’ve already built it, why not try to make some money off of it.
Chris 17:57
That’s true, too.
Anne 17:58
And they’ll learn so much from any of the retailers that are willing to participate? Like, I think that’s a really smart point. I just question how many retailers as they’re, like moving forward strategically, are going to get embed further with Amazon like, and because it’s going to require that you build your business based on how Amazon is set up? Which Yes, is efficient, like in supply chain? Yes, is efficient in, you know, retail media. But I just, I really think that we’re going to see some resistance from from like, the big retailers of deciding to go this direction, especially with so many of them building their own retail media networks, like figuring out how to figure out this data problem, which is a huge issue.
They can’t handle that internally, the brands can’t handle the the cleaning of the data, the digestion of the data, and the action to take on on behalf of the data on their own. So this may be it may be a temporary solution for some but I don’t know, I also think like, this is where is the breakup conversation coming
Chris 19:02
AWS monopoly?
Anne 19:03
This is getting
Chris 19:04
Oh, tangent.
Anne 19:05
I know. All right.
Chris 19:06
Yeah. No, I think it’s a great point, though. Like, no, I think it’s important. Bring it up. 100%. I just kind of jokingly mocking that statement, because, but it’s interesting, because like, if they get traction here, it makes me basically they’re running the platform for retail, as they’re also doing retail, which brings up a lot of questions and fundamental
Anne 19:23
Totally. And I guess the last point I would make, too, is, is this going to be worth it like Amazon’s not going to give this to you for free?
Chris 19:30
No.
Anne 19:30
And when we look at the way that Amazon’s operating everything else selling on the platform, like they’re taking huge cuts and is it going to be worth it to these retailers to get in bed with Amazon and to pay whatever Amazon decides throughout the years to charge for this
Chris 19:44
Yeah, I would have thought that too. But then when I see like Hudson news, and again, Kwik Trip giving the front end of their customer experience over to Amazon technology. This is all back end stuff that the customer is never going to see that doesn’t impact your brand at all. And you’ve got people doing that very regularly. Be with them now. So I don’t see you’d like to think that they wouldn’t, but they will. I know. All right headline number four according to change storage Rite Aid has launched a new small format store pilot for quote unquote pharmacy deserts and underserved communities. The first location opened earlier this month in Craig’s Ville, Virginia, which has less than 1000 residents and two additional stores are planned to open in Virginia by early 2023.
The new smaller format store will average approximately 3000 square feet, which is significantly smaller, quite significantly smaller than the average 11,000 square foot to 15,000 square foot standard, right a location and will also still feature a full service pharmacy, along with an assortment of health and wellness products, the stores this is important too. We’ll also have a full time pharmacist and a full time pharmacy technician on staff. Anne your thoughts.
Anne 20:50
Second, second Virginia reference in the podcast today. We had West Virginia earlier now we’re going to
Chris 20:57
Those are fine words West Virginia, ain’t Virginia.
Anne 20:59
I know I’m just saying two Virginia right references for West Virginia and Virginia.
Chris 21:04
I gotta figure out how to bring in East Virginia in this.
Anne 21:08
So I do like this idea of of getting into these pharmacy deserts. Yes, I do. I just want to make sure that Rite Aid is making the investments operationally and in technology in order to execute this successfully. If we start seeing them leveraging, you know, robotics for prescription fulfilment, like we’ve are seeing with Walgreens like, that makes sense. But that is a big investment. I also think that you need to think about with all of these smaller satellite locations, you have to think about fulfilment, operations and routing improvement and stuff. So like, can you fill in one location?
And is there somebody driving around and kind of routing all of those prescriptions so that people can still get access to them quickly? Because if it doesn’t, if they can’t get it quickly, then even if they do have to drive a half hour to drive a half hour, I think they’re also going to need smarter inventory analysis technology to understand they’re still gonna have wellness products, they’re going to have a significantly smaller footprint. So are they investing in the technology to understand like, what do we need to have on the shelves in this particular region, and this pharmacy desert based on the collection of information we’re getting from people’s prescription?
So there’s a lot of work to go into it, but in concept, I love the idea.
Chris 22:24
Really? Wow. Okay. I, I 100% disagree with you, I think, I think points for altruism and the PR on this. Yeah. And of any headlines we’ve ever covered on the show. I hope I’m wrong about this. Yeah. I’m just really sceptical of the business value here ultimately.
Anne 22:40
Okay,
Chris 22:41
And for that reason, I don’t like this idea very much at all. And the reason I say that is, I used to be someone that used to actually recruit and hire farmers.
Anne 22:50
Oh Yeah
Chris 22:50
I used to have to interview them for the 12 stores I had to staff throughout the country. And those stores in those very outlying areas of the country like, and I’m talking big cities to relative to what we’re talking about here like Casper, Wyoming,
Anne 23:05
Right
Chris 23:05
Or Cheyenne actually told me we didn’t have a pharmacy in Casper, but Cheyenne, Wyoming or Kearney, Nebraska, like, it is really hard to find full time pharmacists. So I just don’t see how this works. Yeah, where you’re keeping a full staffed pharmacist in these stores in the long run.
Anne 23:24
Yeah,
Chris 23:24
But you know, it’s worth it. You know, it’s worth a test, I guess, for three stores to see and to try to prove it out. But there’s a reason pharmacies aren’t in these locations already. They probably were at one time they’ve gone away, people need to remember that, you know, there’s nothing very rarely are there anything. Is there anything new in retail unless you come up with a new way to do it.
Anne 23:42
Yep.
Chris 23:42
And it doesn’t sound like this headline is that, to me, the whole experience to make this happen in the way we want has to be completely reimagined.
Anne 23:50
Yes.
Chris 23:51
And it should be because people in these communities need access to pharmacies. But so for me, I think of things like mobile ordering and onsite pickup via lockers or other types of services, which, but again, I’m sceptical from reading the announcement of this, that that’s what this is about. It sounds like it’s just a smaller store.
Anne 24:09
Yeah,
Chris 24:09
With a staff pharmacist, which is going to be incredibly difficult to operationalize overtime.
Anne 24:13
Yeah, I don’t think we disagree. I think that we just there’s like, my, my thing is that it is great. But the investment has to be there, they’re gonna have to learn. I think your point is dead on about the pharmacists being fully staffed. Like I think that’s something that they’re going to quickly understand. Like, maybe we’re gonna need this one person to float between all of these but then again, there’s there’s so many operational things that they need to figure out before this can be
Chris 24:38
But the other reason I’m, I’m kind of sceptical of this if you look at Rite Aid technologically
Anne 24:43
Yeah,
Chris 24:43
like an innovation wise, I would put them behind Walgreens and CVS have recalled the headlines for the last four or five years like they have like it just doesn’t seem like they’re doing sounds like they’ve actually had a lot of struggles to get the money to do those things. So I’m sceptical that it’s going to work.
Anne 24:58
All right, well, let’s see. Fingers crossed.
Chris 25:00
Prove me wrong, Rite Aid
Anne 25:01
Do it Rite Aid. All right, last headline Chris Claire’s is joining the ranks of Wessels pretzels and opening shop and shops inside of Macy’s according to chain stories once again, the teen and tween fashion accessories brand is teaming up with Macy’s to open shop and store locations in more than 20 Macy’s locations nationwide. The assortment will feature hair accessories, jewellery and cosmetics and seasonal items for holiday parties and celebrations. Chris have you going to go get your your ears double pierced at the Claire’s and Macy’s anytime soon?
Chris 25:32
No, Anne I can stop the world on this. I want to get off like I just can’t I can’t take these stores anymore. The Wetzel pretzels are Claire’s. I mean, where does this idea and yeah, what’s next? The sharper image? Are we bringing back the Sharper Image Macy’s? I can’t for the life of me understand how taking everything from inside of a mall and putting it in an anchor tenant works for anyone in the long run? Yeah, I don’t know, like play this out for me in like Macy’s keeps going down this path. Yeah. Doesn’t it ultimately become Target and Walmart with an untenable cost structure? Ultimately, at the end of the day, too? Yeah. Because our business model doesn’t work the same?
Anne 26:05
Yeah. I mean, I totally agree. I mean, I think that’s the ultimate question. Like, who has the right to win here,
Chris 26:10
Right
Anne 26:11
Target’s doing this with rollin like there’s all these other people like there’s tonnes of other options and Target and Walmart are so much better than Macy’s at one stop shop. Yeah, and, but in as also at the back end, things like Macy’s, you can’t just keep stuffing things in your stores like you are not making any investments in bettering inventory analysis and visibility bettering your curbside pickup and other services.
Chris 26:37
They did have the announcement of, I think 25 or 35 Micro fulfilment centres are going after. So they’re gonna make it some they’re making some efforts there,
Anne 26:44
Maybe. But from the consumers perspective like there’s, there’s nothing that is being invested in here. And when you roll these concepts out, they look great in Herald Square, I just had a conversation with somebody about it this week about toys r us like, the Herald Square location looks fabulous, and we would expect it to and maybe even peppered around the suburbs around Manhattan where the executives live. But when you start to roll this out to Minneapolis, to Texas to wear anywhere else, they look like crap, and they’re not holding up the brand value for the brands that are coming in. And they just they are, there is no reason that Macy’s has a right to win this situation. The one stop shop, like you said, then over a target
Chris 27:26
You put the cherry on the top there. And you’re 100% Right, yeah. When you start getting to the disparate locations, like it’s going to be the same thing as a Target or Walmart. That looks a lot crappier. Yeah, like honestly, at the end of the day. And let’s not forget to it. There are Claire’s and 2500. Walmart stores already. Right product. Claire’s price is 2500 Walmart stores. I looked that up already. So like, where’s the difference here? What’s the differentiation?
Anne 27:47
Still not a reason to go to a Macy’s?
Chris 27:48
No
Anne 27:50
Target and Walmart have grocery stores. Like there’s a reason you’re getting me in there. I mean, it’s just I don’t know, Chris. I can’t I cannot talk about this much.
Chris 27:57
Yeah, I agree with you. But I thought you nailed that one dude, like Zinger to Macy’s on that.
Anne 28:02
Oh, man. All right. Let’s get into the lightning round. Chris. Dr. Scott Z Lau Zillow. I don’t know how you say your name Scott. I’m sorry. But he’s a longtime Mayo Clinic trauma surgeon and medical professor who is now taking the reins of his family’s Kwik Trip that’s with a que convenience store Empire as his father retires from his role as CEO. Chris, what is one thing you’d hope that a surgeon would change about convenience stores?
Chris 28:28
Well, I hope it’s not the typical thing I associate with surgeons, which is absolute arrogance and godlike complexes, like, like, I
Anne 28:34
I didn’t even say the guy’s name, right, I’m sorry.
Chris 28:36
I know but for that. Like I this is a really weird move. You know, he’s been a trauma surgeon for 20 years. And now he’s going back into the family business. So, you know, aside from the proverbial things of like, knowing how to keep things clean, and knowing how to make cuts where appropriate. I, you know, I hope he just has the humbleness. He’s from Minnesota, so he’s probably pretty humble. You know, I hope he has the humbleness or the humility to approach this job with the right frame of mind because he’s probably had a lot of people catering and kissing his butt for the last 20 years. Let’s be honest,
Anne 29:03
Oh man,
Chris 29:04
The most ass kissed profession of anyone in the world. In my opinion,
Anne 29:08
I would be I would be heading to Maui and just being like, peace out. I’m
Chris 29:12
Fair play to him for getting into business. All right. This one’s fun. When a hologram of Sam Walton in Bentonville Arkansas was recently asked, this is true story. What he would tell Black Friday shoppers, he reportedly responded. It’s very important to smile at a customer and look them in the eye and greet them. He said those customers are the reason for our being don’t y’all realise that? Anne my question is what creeps you out more the idea of a hologram Sam Walton or that that answer actually makes a hell of a lot of sence.
Anne 29:40
Oh my gosh. I mean, the hologram Sam Walton is I was joking. I was like, are we sure that’s not just like a cryogenically frozen Sam Walton right but if anyone could do that he probably would figure out a way to make that happen so I’m gonna say the hologram for sure
Chris 29:55
the hologram for sure
Anne 29:56
Without a doubt,
Chris 29:56
Not the fact that the AI is scarily accurate. Okay, cool.
Anne 29:59
I expect that by now like that is no surprise there to me. All right, Chris. Miami nightclub owners are mourning the loss of income from crypto bros as FTX collapses. This was crazy. Did you see this? ThereThey went from revenue of $6 million in the last six months of 2021 to just $10,000 of total revenue in the last three months. Chris which of the popular crypto bro nightclubs splurge is would you be most interested in singing on stage with 50 cent no $50,000 Private tables Or a bathtub of Dom Perignon?
Chris 30:35
Am I? Is it a solo bath experience? Or can I invite other people?
Anne 30:39
I don’t know you can do whatever you want.
Chris 30:41
I can let my imagination run wild.
Anne 30:42
Yeah
Chris 30:43
Then I’m picking the DOM paradox for sure. 100% Maybe some crystal thrown in there too.
Anne 30:48
Oh my god. I would drink a bathtub of champagne. Oh my god.
Chris 30:52
That’s so disgusting. Alright,
Anne 30:54
Not after anyone’s. been in it. Let’s clarify.
Chris 30:57
So you still drinking out of a bathtub? That’s disgusting. I’ve never used bathtub. All right, last one. The city of Perth. Australia is highly anticipated City of Light Christmas drone show didn’t go exactly as planned. Multiple drones began malfunctioning and falling from the sky throughout. Crashing into the no joke. Swan River as crowds watched on your thoughts Anne
Anne 30:57
We should definitely attach 10 pound packages to these things.
Chris 31:20
That’s right. That’s it’s such a good point.
Anne 31:26
Yeah.
Chris 31:27
Oh my god. And shout out to Australia Australia’s our in our top five of countries that listened to our podcasts. So thanks to all of our fans and Australia. All right, that wraps up this great show today. Happy birthday to Zoe Kravitz, Sarah Silverman and the woman who will always be the wind beneath my wings, and possibly countless others. The great Bette Midler,
Anne 31:46
We got to watch beaches this weekend. I’m gonna throw that one in.
Chris 31:49
Absolute do not need to watch peaches this weekend. That’s the last thing I need to do. And remember, if you can only read or listen to one retail blog in the business make it Omnitalk. Our Fast Five podcast is the quickest fastest rundown of all the week’s top news. And our twice weekly newsletter tells you the top five things you need to know each day and also features special content exclusive to us and just for you and we try really hard to make it all fit within the preview pane of your inbox.
You can sign up today at www dot onmy talk dot blog. Thanks as always for listening in. Please remember to like and leave us a review wherever you happen. Listen to your podcasts or on YouTube. On behalf of all of us at omnitalk. As always, be careful out there. And please please refrain from watching beaches and depressing yourself this weekend.
Anne 32:28
The Omnitalk Fast Five is a Microsoft sponsored podcast Microsoft Cloud for retail connects your customers, your people and your data across the shopper journey delivering personalised experiences and operational excellence and is also brought to you in association with the a&m consumer and retail group. The a&m consumer and retail group is a management consulting firm that tackles the most complex challenges and advances in clients people and communities toward their maximum potential. CRG brings the experience tools and operator like pragmatism to help retailers and consumer products companies be on the right side of disruption. And takeoff, takeoff is transforming grocery by empowering grocers to thrive online. The key is micro fulfilment. Small robotic fulfilment centres that can be leveraged at a hyperlocal scale to take off also offers a robust software suite. So grocers can seamlessly integrate the robotic solution into their existing businesses. To learn more visit takeoff.com. And sezzle, sezzle and innovative Buy now pay later solution that allows shoppers to split purchases into four into three payments over six weeks. To learn more visit sezzle.com. And finally silk, the silk cloud DB virtualization platform is a virtualization layer between your workloads. And the Cloud helps you scale your cloud without scaling your costs. Visit silk.us to learn more
Omni Talk is the retail blog for retailers, written by retailers. Chris Walton and Anne Mezzenga founded Omni Talk in 2017 and have quickly turned it into one of the fastest growing blogs in retail. 