Amazon Auto, Porch Pirate Insurance & Why There May Be No Stopping Tractor Supply | Fast Five
In this week’s Omni Talk Retail Fast Five news roundup, sponsored by the A&M Consumer and Retail Group, Ownit AI, Avalara, Mirakl, and Ocampo Capital, Chris and Anne discussed:
- Amazon’s momentous launch of Amazon Auto (Source)
- Why Tractor Supply Company may be the retailer to watch over the next decade (Source)
- PorchPals new insurance offering for victims of package theft (Source)
- Whether Dollar General’s slowdown of its fresh expansion signals underlying issues with its grocery strategy (Source)
- And closed by dissecting the value of E.l.f. Beauty’s new 3D Virtual Luxe Lounge (Source)
There’s all that, plus Brooke Chambers, Kroger’s Director of Digital Marketplaces, stops by for 5 Insightful Minutes, Shaboozy songs, Brain Rot, and Chris’s man crush on the Gambler.
Click here to register for eTail West, and don't forget to use our promo code ETAILPARTNER.
And, if you are interested in reading Chris’s latest article on marketplaces, you can also find that here: https://omnitalk.blog/2024/12/09/dont-leave-money-on-the-table-how-to-rethink-your-marketplace-strategy/
Music by hooksounds.com
#RetailNews #AmazonAuto #TractorSupplyCompany #PackageTheftInsurance #DollarGeneral #VirtualShopping #RetailTrends #OmniTalkRetail #KrogerDigital #RetailPodcast #FastFiveNews
This podcast uses the following third-party services for analysis:
Podcorn - https://podcorn.com/privacy
Transcript
The OmniTalk Fast5 is brought to you in association with the A and M.
Ann Mazinga:Consumer and Retail Group.
Speaker A:The AM Consumer and Retail Group is a management consulting firm that tackles the most complex challenges and advances its clients, people and communities toward their maximum potential.
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Speaker A:Companies like Macy's, Nordstrom and Kroger use Miracle to build disruptive growth and profitability through through Marketplace, Dropship and retail media.
Speaker A:For more, visit Miracle.com that's M I R A K L.com and Own It AI Own It AI helps the world's leading retailers advance their e commerce shopping experience with AI.
Speaker A:To learn more, visit ownit Co and finally, Ocampo Capital.
Speaker A:Ocampo Capital is a venture capital firm founded by retail executives with the aim of helping early stage consumer businesses succeed through investment and operational support.
Speaker A:Learn more@ocampo capital.com hello, you are listening.
Ann Mazinga:To Omnitalk's Retail Fast Five, ranked in the top 10% of all podcasts globally and currently the only retail podcast ranked in the top 100 of all business podcasts on Apple Podcasts.
Ann Mazinga:The Retail Fast Five is the podcast that we hope makes you feel a little smarter, but most importantly, a little happier each week too.
Ann Mazinga:And the Fast 5 is just one of the many great podcasts that you can find from OmniTalk Retail's podcast network.
Speaker A:Alongside our Retail Daily Minute, which brings.
Ann Mazinga:You a curated selection of the most most important retail headlines every morning and our Retail Technology Spotlight series, which goes deep each week on the latest retail technology Trends.
Ann Mazinga: ,: Ann Mazinga:I'm one of your hosts, Ann Mazinga.
Chris Walton:And I'm still Chris Walton, and we're.
Ann Mazinga:Here once again to discuss all the top headlines from the past week making waves in the world of omnichannel retailing.
Ann Mazinga:Chris we only have two weeks left of the year.
Ann Mazinga:Believe it or not, this is our last regularly scheduled Omnitalk Fast Five.
Ann Mazinga:Are you excited for next week's episode?
Chris Walton:Of course, Ann.
Chris Walton:I mean, I love next week's episode.
Chris Walton:Next week's episode is by far and away my favorite fast five to record every year.
Chris Walton:I'm sure it is yours too, because, you know, we invite David Brown and David river from the A and M Consumer Retail Group to join us, which I think this is our third year they've done our holiday award show.
Chris Walton:Right?
Chris Walton:Like our annual third year.
Ann Mazinga:They've done it.
Ann Mazinga:Yeah, yeah, this is.
Ann Mazinga:I can't remember how many years this is for us though.
Ann Mazinga:I mean this has got to be.
Chris Walton: ah, we've been doing it since: Chris Walton:So yeah, this is probably.
Chris Walton:Yeah, yeah.
Chris Walton:So we've done it for a long time.
Chris Walton:But yeah, it's become an annual tradition with the two Dave's.
Chris Walton:And I love when they come on because we touch everything.
Chris Walton:We do, you know, CEO of the Year, Retail Headline of the year, Retailer of the Year.
Chris Walton:And you know, my favorite category that you came up with last year too is retail headline you'd most want to turn into a movie, which I think is awesome.
Chris Walton:I've got some, I've got some teas too.
Chris Walton:And like, I think, you know, my Retail of the year, it's, it's a, it's a, it's still a race.
Chris Walton:I don't know who I'm going to pick.
Chris Walton:It's between Walmart Sprouts and Abercrombie.
Chris Walton:Those are, those are my leaders right now.
Chris Walton:They're sitting near the pole position, I guess you would say.
Ann Mazinga:And, but we know who your CEO of the Year is going to be.
Ann Mazinga:I mean, seven years strong, I think.
Chris Walton:Seven years in a row.
Ann Mazinga:Yeah, maybe, maybe you'll diverge this year, but I highly doubt it based on your history.
Chris Walton:Absolutely not.
Chris Walton:Absolutely not.
Chris Walton:And there's not even a.
Chris Walton:There's not even a 1A and a 1B.
Chris Walton:For those listening.
Chris Walton:And for those listening, she's referencing Doug McMillan.
Chris Walton:Because I, I enabered with Doug and all he's done at Walmart.
Chris Walton:But, but yeah, and the other thing about it too, Ann, is it's a salute to the A and M consumer Retail Group because they, we have such a unique partnership with them in terms of how they ask us the put you on the spot question every week.
Chris Walton:They're very candid, Frank.
Chris Walton:They appear on our podcast and talk about different retailers and give their opinions on it very candidly and point blankly.
Chris Walton:It's just so unique and so testament to them.
Chris Walton:And thank you to all their, their help and support over the year as well.
Ann Mazinga:Yeah, it's going to be fun.
Ann Mazinga:So make sure you either catch that one when we release it Next Wednesday or.
Ann Mazinga:It's a good.
Ann Mazinga:It's also a good listen for your holiday travels, right?
Chris Walton:Yeah.
Ann Mazinga:I mean, yeah.
Ann Mazinga:And.
Chris Walton:Yeah, and we cut it up into shorts.
Chris Walton:We got 10 awards.
Chris Walton:10 awards slated.
Chris Walton:We'll cut them all up into shorts so you can take them however you want.
Chris Walton:Bite size.
Chris Walton:You can watch the full episode, whatever you want.
Chris Walton:But.
Chris Walton:All right, as we get to the headlines.
Ann Mazinga:Let's get to the headlines, Chris.
Ann Mazinga:Let's do it.
Chris Walton:All right.
Chris Walton:Today's headlines are brought to you by E Tail west in just 76 days and.
Chris Walton:Wow, 76 days.
Ann Mazinga:I know.
Ann Mazinga:I'm counting it down already.
Chris Walton:Yeah.
Chris Walton:You can join Ann.
Chris Walton:Ann is doing this show solo.
Chris Walton:She's doing this solo.
Chris Walton:But you can join Ann in sunny Palm Springs with the best in retail, brand and technology, including H M Skims, Zappos, Fabletics, and more.
Chris Walton:Head to etailwest.com and use code etail partner.
Chris Walton:All one word, etail partner to get 20% off this must attend event.
Chris Walton:And you and Ann can sit and enjoy the sunny confines of Springs.
Ann Mazinga:Yes, we can.
Ann Mazinga:Yes, we can.
Ann Mazinga:Just book it now.
Chris Walton:That's right.
Chris Walton:In this week's Fast5, we've got news on tractor supplies, growing store expansion plans, Porch pals, new porch piracy insurance.
Chris Walton:That's 4P words for those keeping score.
Chris Walton:Store.
Chris Walton:I can't.
Chris Walton:I'm stumbling over the p alliteration.
Chris Walton:And 4p words for those keeping score at home.
Chris Walton:Dollar General slowing its rollout of fresh food.
Chris Walton:Elf Cosmetics creating a 3D shopping experience for its loyalty members.
Chris Walton:And Kroger's Director of digital marketplaces, Brooke Chambers joins us for five insightful minutes.
Chris Walton:But we begin today.
Chris Walton:Or should I say rev up today's podcast.
Ann Mazinga:Oh, God.
Chris Walton:With big news out of Amazon.
Ann Mazinga:Oh, my God, Chris.
Ann Mazinga:Headline number one.
Ann Mazinga:Amazon is officially in the online car sales business.
Ann Mazinga:According to TechCrunch, Amazon expanded Monday into online car sales with the launch of Amazon Autos, an e commerce business that lets customers find, order and buy new cars, trucks, and SUVs from dealerships.
Ann Mazinga:Amazon is kicking off the new endeavor with Hyundai.
Ann Mazinga:Hyundai.
Ann Mazinga:I never say that.
Ann Mazinga:Right, Hyun?
Ann Mazinga:Hyundai.
Chris Walton:Hyundai.
Chris Walton:I don't know.
Ann Mazinga:In 48.
Ann Mazinga:Hyundai?
Chris Walton:I don't think so, but Hyundai, I think Hyundai.
Ann Mazinga:Hyundai.
Ann Mazinga:I.
Ann Mazinga:We're going to have to, like, cut a clip of us trying to say this because it is ridiculous.
Ann Mazinga:I.
Ann Mazinga:I want to say Hyundai, but it's not right.
Ann Mazinga:Okay.
Ann Mazinga:Anyway, yeah.
Ann Mazinga:48 U.S.
Ann Mazinga:cities now, including Atlanta, Boston, Chicago, L.A.
Ann Mazinga:new York.
Ann Mazinga:And the launch comes more than a year since the e commerce giant announced plans to start Selling vehicles on its website.
Ann Mazinga: In the second half of: Ann Mazinga:Shoppers will be able to search for available vehicles from participating dealers by model, trim, color, and features.
Ann Mazinga:Notably, customers will also be able to secure financing and e sign paperwork via the Amazon Auto site.
Ann Mazinga:Once the payment is finalized, customers can schedule when to pick up their vehicle from that dealership.
Ann Mazinga:Chris, could you ever see yourself buying a Hyundai or any other car from Amazon?
Chris Walton:Stumble down on the joke.
Chris Walton:I love it.
Chris Walton:All right.
Chris Walton:Yes, I actually could.
Chris Walton:I actually could see myself doing this.
Chris Walton:I.
Chris Walton:Okay, Yeah, I think this.
Chris Walton:I 100.
Chris Walton:I think this is pretty freaking sweet.
Chris Walton:I think it's a great move by Amazon.
Chris Walton:I don't.
Chris Walton:Did you try it out yet?
Chris Walton:Did you go on the site?
Ann Mazinga:I did, yeah.
Ann Mazinga:Yeah, yeah, yeah.
Chris Walton:I can't wait to hear what you thought.
Chris Walton:But I thought it was.
Chris Walton:I thought it was pretty darn good.
Chris Walton:I mean, it'll coordinate financing for you.
Chris Walton:The pricing's transparent.
Chris Walton:You can see all the features of the car you're buying.
Chris Walton:And you can schedule the pickup, too, at the dealership.
Chris Walton:So.
Chris Walton:And the other part about it and which you talked about in the headline, read it.
Chris Walton:It works just like Amazon's garden variety marketplace.
Chris Walton:And so for that reason, I love it.
Chris Walton:I think it's great.
Chris Walton:And once there's more inventory than just Hyundai, look out, Ann.
Chris Walton:I mean, that's what's so great about this.
Chris Walton:Like, you know, if they get this off the ground, it's just going to keep rolling.
Chris Walton:But the thing I really love about it, Anne, and this is the thing I really like, and this, the last point I'll make on this is, you know, who spends a lot of money on advertising?
Ann Mazinga:Oh, yeah, yes.
Chris Walton:The car companies, right?
Ann Mazinga:Yeah, car companies.
Chris Walton:And to this day, the car companies via Amazon's traditional online portal have not spent any money on advertising.
Chris Walton:So, you know, and so why shouldn't ads exist in the same way they have traditionally existed on Amazon for cars?
Chris Walton:And so this is a big, big play when you combine the fact that consumers can shop this way, but also Amazon could get significantly more advertising revenue from this play too.
Chris Walton:So.
Chris Walton:So, net.
Chris Walton:Net, I'm, I'm in love with Amazon Auto.
Ann Mazinga:And yeah, I didn't even really, I don't know how I didn't think about the advertising angle, but that's huge.
Ann Mazinga:I mean, when I was in advertising the car, like, having an auto client was like the biggest deal on, like, you had to have an auto client to sustain an entire agency.
Ann Mazinga:So I think, yeah, that's massive.
Ann Mazinga:I agree.
Ann Mazinga:I love this too.
Ann Mazinga:But I came at it from the customer experience.
Ann Mazinga:And actually what I thought the coolest part of this was, Chris, is the Rufus integration.
Ann Mazinga:Like how you can use Gen AI now because that's, to me, that's like the logical process of going through.
Ann Mazinga:Like, I'm looking for an suv.
Ann Mazinga:I need to have five seats because I, you know, have three kids and two whatever.
Ann Mazinga:Like all those questions that you typically would be searching on your own, you know, spending hours doing or talking to a car salesperson to kind of get to the right car for your family.
Ann Mazinga:Like, now that can all be done on the Amazon platform.
Ann Mazinga:And it brings in the advertising eagle that you're talking about too.
Ann Mazinga:Like, what, what an even better opportunity for some of these car companies to start targeting or serving up, you know, their cars in that moment when you're really looking at it or being able to pull unique features.
Ann Mazinga:So I that, that alone, to me it was like, that's really cool.
Ann Mazinga:Plus, I've said this a million times, like, the car buying experience needs to be disrupted.
Ann Mazinga:I've purchased two cars in the last five years.
Ann Mazinga:Like, there's no re.
Ann Mazinga:There's.
Ann Mazinga:There's not even haggling on price anymore.
Ann Mazinga:It's just like, this is the price.
Ann Mazinga:It's all stupid stuff like warranty stuff and all kinds of things that take hours of your life that you're never going to get back.
Ann Mazinga:And like, that stuff is out of the way.
Ann Mazinga:You just go, you pick up the car and you're done.
Ann Mazinga:And I love this.
Ann Mazinga:I love it.
Chris Walton:Yeah, that's a great point.
Ann Mazinga:Yeah.
Chris Walton:I'd rather sit in front of my computer doing all that stuff than sit in right in the office of some sales guy or finance guy while he prints out everything on a dot matrix printer.
Chris Walton:And I gotta wait for him to do everything.
Chris Walton:Yeah.
Chris Walton:The other point I bring up about the ads and too, which I think is really interesting, is for new cars, particularly personalized ads do not exist in the automotive world.
Chris Walton:Like, they don't.
Chris Walton:Like, that's not something that we as consumers get served up.
Chris Walton:So when I think about that and the potential here, this just, this gets really big, really big, really fast in my mind.
Chris Walton:Yes.
Chris Walton:All right.
Chris Walton:Headline number two.
Chris Walton: additional new stores in: Chris Walton:According to Chainsaw Age, the nation's largest rural lifestyle retailer.
Chris Walton:Has increased its long term store count goal to 3,200 locations.
Chris Walton:Wow.
Chris Walton:Up from its previously announced target of 3,000.
Chris Walton: new namesake stores in: Chris Walton: ,: Chris Walton: up and it currently operates: Chris Walton:Tractor supply also updated its total addressable market size to approximately 225 billion, up from 180 billion.
Chris Walton:It aims to achieve a net sales increase of 6 to 8% and comparable store sales growth of 3 to 5% and expects earnings per share to grow 8 to 11% as well.
Chris Walton:Whoa, lots of big, big, big data points there.
Chris Walton:And yes, I'm curious, do you think Tractor Supplies expansion plans make you stop and go?
Chris Walton:Huh?
Chris Walton:I never thought about Tractor Supply in this way.
Ann Mazinga:Oh, I thought you were going with the.
Ann Mazinga:I thought you were going to go with the song like things that make you go home or we could do.
Chris Walton:We could do that.
Chris Walton:Two things.
Ann Mazinga:Remember that?
Ann Mazinga:Yes.
Ann Mazinga:You know that one.
Ann Mazinga:See this?
Chris Walton:I know that one.
Ann Mazinga: need to stop referencing like: Chris Walton:Yes, if it was on 97 FM and I probably know it, I probably know it.
Chris Walton:But if it's anything, if it wasn't played on that, not happen, not have.
Ann Mazinga:Well, to answer your question, yes, it absolutely did make me stop.
Ann Mazinga:And the more I think about it, Chris, the more that I'm very intrigued by this headline.
Ann Mazinga:I mean first of all, 90 new stores in this year alone, just the Tractor Supply banner and then 10 of their petsense stores which are like a Petco competitor or Pet Pet Smart competitor, that's pretty ambitious for one year.
Ann Mazinga:And I especially think this is interesting because we've interviewed the Tractor Supply team, many members of their executive team and they get how to do omnichannel retailing.
Ann Mazinga:I had already associated them with being more of like a rural retailer, but to see if you dive into the numbers to see the addressable market that they still think they have.
Ann Mazinga:And do you remember when we talked to Colin Yankee a while ago and he said, you know, we have to zero in on inventory, we have to make sure our supply chain's in check because some of their customers are still driving, you know, 20 minutes to get to the store.
Ann Mazinga:So like the more that I thought about this was like, yeah, they still do have a lot of opportunity.
Ann Mazinga:And so I think that's a huge, huge thing to start to pay attention to.
Ann Mazinga: ,: Ann Mazinga:Right?
Ann Mazinga: ke that's, that's, I believe,: Ann Mazinga:And I think Tractor Supply is kind of this sleeper retailer out here that, that we need to all be paying more attention to.
Ann Mazinga:But what do you think?
Ann Mazinga:Are you, were you surprised by this?
Chris Walton:Oh, yeah, yeah.
Chris Walton:This, this, this headline definitely made me go, huh?
Chris Walton:You know, like, wow, I had nothing thought about Tractor Supply in this way before.
Chris Walton:And I think, you know, for that reason, I almost think it's the retail to watch of the next decade.
Chris Walton:And I say that, I say that for three reasons.
Chris Walton:I think, number one, 3,000 stores.
Chris Walton:And you're talking Walmart scale at 3,000 stores there, right?
Chris Walton:I don't, I don't even know if there's another retailer that, you know, of the same size and scope.
Ann Mazinga:Certainly not in that category.
Chris Walton:No.
Ann Mazinga:Yeah.
Chris Walton:And then two, the pets angle is really interesting as well.
Chris Walton:You know, how do they, how do they think about that?
Chris Walton:But then three, this is what I think is really fascinating with that size and scope comes back to retail media again, because retail media can become a real profit enhancer.
Chris Walton:There are only so many retailers that can actually promise and provide their advertising partners a national retail media network.
Chris Walton:And at 3,000 stores, even 2,000 stores, Trek just Reply is one of them.
Chris Walton:And to your point, let's not forget CEO Hal Lawton's background is steeped in digital.
Chris Walton:Like he, he was a digital leader before even becoming the CEO.
Chris Walton:So.
Ann Mazinga:Right.
Chris Walton:He, he like understands how to capitalize on the retail media angle as well as anyone, if not better than any CEO out there, possibly.
Chris Walton:So, so yes, I'm, I'm, I'm, I'm, I'm, I'm buying in on this one.
Chris Walton:Like, go ahead.
Chris Walton:Yeah.
Ann Mazinga:And the retail media angle is interesting too, because unlike, you know, the typical B2C retail media like that you're offering, like Tractor Supply does a huge B2B.
Ann Mazinga:And so I think, like, there's a.
Ann Mazinga:There, Yeah, I guess, you know, the, the point being or point to end on is really there is so much more opportunity for Tractor Supply and they seem like the right team to execute it in absolutely the right way.
Ann Mazinga:So.
Chris Walton:Yeah, and we're gonna be talking about, we're gonna be talking about marketplaces with Kroger later.
Chris Walton:Like, you know, how does that come into play in their strategy as well?
Chris Walton:Like, yeah, absolutely, man.
Chris Walton:Yeah, I would.
Chris Walton:Yeah.
Ann Mazinga:All right, T1 to watch.
Ann Mazinga:All right, let's go to headline number three.
Ann Mazinga:According to retail dive, Porch Pals, an insurance product designed to cover the loss of stolen packages, has opened a wait list to subscribe.
Ann Mazinga:Chris.
Ann Mazinga:Which is now available nationally.
Ann Mazinga:In the US last year, according to Capital One Research, one of every 180 packages delivered was stolen, totaling 119 million US consumers who lost $13.4 billion to package theft, with each package being worth $112.3 on average per the same report.
Chris Walton:Wow.
Ann Mazinga:Torch Pals protection, which costs $15 per month, or $120 total with an annual subscription, is linked to a customer's debit or credit card.
Ann Mazinga:The company touts the coverage as broad and efficient, noting that it applies to deliveries from a variety of retailers that.
Ann Mazinga:And that a claim can be filed in minutes and that reimbursement is sent within 72 hours of an approved claim.
Ann Mazinga:The coverage also does not require victims of package theft to file a police report.
Ann Mazinga:There are also some limits to the Porch Pals coverage, though.
Ann Mazinga:Subscribers can only make up to three claims each year, totaling $2,000 or less.
Ann Mazinga:Chris, this is also the A and M put you on the spot question this week.
Chris Walton:Geez, I feel like I'm on a streak with these questions.
Ann Mazinga:You are.
Ann Mazinga:You are.
Ann Mazinga:You keep getting them.
Ann Mazinga:Chris, A and M wants to know who should bear the financial burden of package theft.
Ann Mazinga:Is it a cost of doing business for retailers, or should consumers take it on, as the Porch Pals model inherently suggests asking a different way given former New York Giant player Adore Jackson.
Ann Mazinga:Did I say his name right?
Ann Mazinga:Adore.
Chris Walton:You did, Ann.
Chris Walton:You nailed it.
Ann Mazinga:Okay, okay.
Ann Mazinga:Who co founded Porch Pals?
Ann Mazinga:Is the one thing that the New York Giants have gotten right this year?
Ann Mazinga:Or is it yet another fumble and organizational debacle?
Ann Mazinga:Affectionately yours, a tortured New York Giants fan.
Ann Mazinga:I'm going to.
Ann Mazinga:I'm really glad you got this one, because I do not follow sports closely enough to know what the hell they're talking about.
Ann Mazinga:So, Chris, the floor is yours.
Chris Walton:Oh, man, that's such a great question.
Chris Walton:I love when they personalize the questions like that, too.
Chris Walton:From the tortured New York Giants fan that wrote it.
Chris Walton:All right.
Chris Walton:Sadly.
Chris Walton:And I think you know how to answer that question.
Chris Walton:I think.
Chris Walton:I think this is.
Chris Walton:That this is right for the consumers to take on.
Ann Mazinga:Really?
Chris Walton:I really do.
Chris Walton:Yeah.
Chris Walton:I'm curious what you Think too.
Chris Walton:But you know, retailers have borne the brunt of E commerce and all its additional costs for a long time now.
Chris Walton:And consumers are still loving E commerce.
Chris Walton:It's still growing, they're still demanding it even more.
Chris Walton:And so for the business model to work in the long run and to keep retailers in business, I think if this is an issue then, then yes, I think it only makes sense for the, for the consumers to bear the cost now.
Chris Walton:Of course, not every address is created equal.
Chris Walton:I understand that not everyone has the ability to afford porch piracy insurance, but I think this is a starting point and the model can still morph over time to be more democratic for everyone.
Chris Walton:But this is a good start.
Chris Walton:And there's other models to this as well, you know, that, that you, you can use here, you know, you know, depending on the degree of severity too.
Chris Walton:But this is the one that's been called out recently.
Chris Walton:So, so net net.
Chris Walton:So net net.
Chris Walton:To answer the question fully, I think this is clearly, clearly in bold capital letters and the best scene to come out of any New York giant, past or present this year.
Chris Walton:That is my statement.
Ann Mazinga:I have nothing to compare that to, so I'm going to have to take your word for it.
Ann Mazinga:But I do, I do agree with you that, you know, another survey that I saw in researching this was that, you know, it's $16 billion of annual loss that retailers are facing because of poor piracy.
Ann Mazinga:And that's, it's just, it's too big of a number for retailers to try to, to cover off on.
Ann Mazinga:And so I do agree, I think the customers are going to end up paying for this no matter what.
Ann Mazinga:Now I am.
Chris Walton:And ultimately the customers pay anyway, no matter what.
Ann Mazinga:Right, Exactly.
Ann Mazinga:Exactly.
Chris Walton:Get right down to it.
Ann Mazinga:Exactly.
Ann Mazinga:I don't know though that I see this taking off.
Ann Mazinga:I think that we're going to see it actually.
Ann Mazinga:Other things happen.
Ann Mazinga:One, I think that we'll start to see retailers the same way that we're seeing changes to return policies where they're charging for returns.
Ann Mazinga:They're, you know, they're, they're including certain return restrictions.
Ann Mazinga:Especially when we start to look at these subscription programs where it's like, okay, you know, we cover as part of your subscription program.
Ann Mazinga:We'll cover, you know, any package theft that happens because they, the retailer gets the recurring revenue from the subscription program that might help offset that, that large line item of theft that's happening.
Ann Mazinga:But I like me as a consumer, I'm not paying for this coverage.
Ann Mazinga:There's just, I just, I could not see myself spending another $15 a month in the event that, you know, three times a year I'd need this, this coverage, this.
Ann Mazinga:But I also haven't lost any major packages and haven't had to deal with the situation where, like, I'm out tons of money.
Ann Mazinga:So I think this might be like a, a situation where you don't buy it until it's happened to you or you need it.
Ann Mazinga:And I think that retailers will end up figuring out how to handle this with customers in their own ways.
Ann Mazinga:So.
Chris Walton:Yes.
Ann Mazinga:So I guess I'm not buying it.
Chris Walton:You're not buying it.
Chris Walton:So I got two, I got two, I got two points to this, I think one to the question today and Emory, is like the other option is you can still just go to the store.
Chris Walton:Right.
Chris Walton:In theory.
Ann Mazinga:Right.
Chris Walton:So like, you know, or pick it.
Ann Mazinga:Up at a location, right?
Chris Walton:Yes, pick it up.
Chris Walton:A secure location.
Chris Walton:My question for you though, and this is what I allude to in the other models too.
Ann Mazinga:Yeah.
Chris Walton:The other model that I've seen or talked to people about is the model that's akin to like when you book an airline ticket and it says, do you want flight insurance at your.
Ann Mazinga:Yes.
Chris Walton:At the point of purchase.
Chris Walton:Like, do you think that is something you could see yourself doing?
Chris Walton:Because you wouldn't want it all the time.
Chris Walton:You want to, want to pay monthly, but maybe for a specific item, like a big screen television.
Ann Mazinga:Yep.
Chris Walton:Would you see.
Chris Walton:You know, you could see yourself doing that though, for sure.
Ann Mazinga:Like, I think that's the difference here.
Ann Mazinga:And that gets back to like what I think we're going to start to see retailers doing like Cozy Earth, it's one of my favorite brands and they, they automatically elect for you to pay $8 for insurance in case your, your package gets stolen or something happens in transit.
Ann Mazinga:So you have to like, as, as the purchaser, you have to go and unselect that if you don't want the coverage.
Ann Mazinga:And so I think that that makes total sense.
Ann Mazinga:Or in that case, you know, you give people the option to pick up in store so that they're not having something of high value sitting outside on their porch.
Ann Mazinga:But I, so that makes sense to me.
Ann Mazinga:I, I just, I'm not, I'm not paying for extra coverage in, in this situation.
Ann Mazinga:I just, I still don't see myself doing that.
Ann Mazinga:I just, I change how, how I pick up the item or how I collect the item.
Chris Walton:That's really interesting.
Chris Walton:So for you, the consumer still pays.
Chris Walton:You just don't like this model that Porch Pals is putting out there that's basically what you're saying.
Chris Walton:Okay.
Ann Mazinga:Right.
Ann Mazinga:Or I mean, I also think that you look at, like, even headlines this week that came out like Best Buy, who's like, working now more closely on getting targeted drop off windows where you can elect, like, I think it's, it's going to fall on the retailers to give customers a myriad of options of how they get their things before they start, you know, before we start to see customers really roll over and start pay a $15 a month fee.
Chris Walton:Yeah, I think I'm with you.
Chris Walton:I think I like that.
Chris Walton:The design of that model a little bit better as well.
Chris Walton:All right.
Chris Walton:And well, let's bring Brooke onto today's podcast.
Chris Walton:Joining us now for five insightful minutes is Brooke Chambers, the director of digital marketplaces at Kroger to share her expertise on just that topic, marketplaces.
Chris Walton:Brooke, your background is very interesting.
Chris Walton:So let's start off by having you share a little bit about yourself.
Brooke Chambers: ve been in marketplaces since: Brooke Chambers:It's an exciting time for me.
Brooke Chambers:It's over a decade.
Brooke Chambers:I started my retail career at Sears and spent some time at Walmart at Kroger now.
Brooke Chambers:So it's really exciting.
Brooke Chambers:A little bit about the journey from a company perspective and managed and worked in a variety of different facets in marketplaces, which is exciting.
Brooke Chambers:So that depth of knowledge and experience, experiences there.
Brooke Chambers:And I'm also a student of retail, so I appreciate marketplaces and the representation that it gives in the space of retail, both online and in stores.
Ann Mazinga:Brooke, let's get started with this.
Ann Mazinga:Give us the lay of the land.
Ann Mazinga:What's the current state of platforms and marketplaces?
Brooke Chambers:We are now at a space where platforms and marketplaces are partners.
Brooke Chambers:And it's so synergy.
Brooke Chambers:It's so much synergy between the two of them.
Brooke Chambers: If you go back, you know, to: Brooke Chambers:And now it's so much more than that.
Brooke Chambers:You have a partner, a consultant, someone to walk you through that journey, both from a technical standpoint, but it's also helping usher in that seller experience component at the same time.
Brooke Chambers:That's why you see so many new marketplaces going the route of a platform platform.
Brooke Chambers:And Miracle has done a phenomenal job.
Brooke Chambers:Adrian and team with how they're articulating that message with Miracle.
Chris Walton:Right.
Brooke Chambers:It's other, you know, platforms in the space, but they're doing such a phenomenal job.
Brooke Chambers:But it's going to continue to get interesting.
Brooke Chambers:And I think that's why you've seen the shift of so many of the more new emerging marketplaces in the United States, specifically and globally have been going the platform route for that reason.
Chris Walton:So, yeah, and Adrian, the CEO of Miracle.
Chris Walton:So I'm curious because, you know, you've been in, you've been in retail a long time.
Chris Walton:You've been in digital commerce a long time.
Chris Walton:You know, retailers can.
Chris Walton:There's a lot of different investment opportunities in digital commerce, particularly.
Chris Walton:So when you think about it, why, compared to other investments in digital commerce, what is the value that a marketplace brings?
Chris Walton:Why should retailers invest there?
Brooke Chambers:You think, one, it's customer retention.
Brooke Chambers:It is the stickiness both offline and online.
Brooke Chambers:And when you think about it, that offline component isn't talked about enough about, you know, the marketplaces who have fully scaled and said, hey, we're going to bring the customer to the store to keep that experience tight with returns.
Brooke Chambers:Just as an example.
Brooke Chambers:Think about it.
Brooke Chambers:You have a customer walking in the door and they may do a return, but they're going to walk back and figure out, man, I may need to get X item for my home or whatever that is.
Brooke Chambers:So that that whole synergy is there and really it's a fight for the customer right now.
Brooke Chambers:Right?
Brooke Chambers:Everyone going into marketplaces is how do I keep my customer, how do I expand my offering?
Brooke Chambers:Right?
Brooke Chambers:And that is the key.
Brooke Chambers:And that's why it's such an important component to any online strategy right now.
Brooke Chambers:Anyone in retail entering that space understands that.
Ann Mazinga:Well, Brooke, with the fight for the customer going on right now, what advice do you have for other e commerce leaders who are kind of considering a marketplace platform model right now to accelerate their growth and reach those customers?
Brooke Chambers:Do it.
Brooke Chambers:Do it.
Brooke Chambers:There's no question it's such an important facet of any retailer strategy right now because it is low investment, high profit, and the fight for the customer is going to win as long as you're keeping that customer experience tight and really understanding the ethos of your customer while you're going down that path.
Brooke Chambers:So it's not really a question about should you do it, you should do it.
Brooke Chambers:And I think a lot we're starting to see that in the space and.
Chris Walton:There'S so many areas it's still expanding into.
Chris Walton:Like, we haven't even touched on the retail media aspect as well.
Chris Walton:So I want to get you out here on this.
Chris Walton:What are your thoughts on the future?
Chris Walton:Like, how do you think marketplaces are going to continue to evolve?
Brooke Chambers:I think about social selling, you think about TikTok and what they're doing right now is really interesting.
Brooke Chambers:I think the interesting debate between TEMU and what Amazon is doing to fight for that lower price point apparel customer is really interesting as well.
Brooke Chambers:But I also think that it's going to continue to evolve into new categories specifically with retailers who were online and offline with brick and mortar presence that could expand and do so much more.
Brooke Chambers:Like David.
Brooke Chambers:David's Bridal is a great example.
Brooke Chambers:I just think that's a really interesting space.
Brooke Chambers:It would be really interesting to see if they were to go into the marketplace space because I think it would be amazing.
Brooke Chambers:And then it's going to continue to evolve just using them as an example because Bridal is so specific.
Brooke Chambers:But, but I think it's going to continue to bridge the gap with online offline social selling.
Brooke Chambers:And listen, the United States specifically, we have a new generation that's about to evolve into a more mature spender and their whole mindset is really different towards shopping.
Brooke Chambers:So it's going to continue to evolve as retail evolves, but it will be a staple in retail strategies for the very long term.
Chris Walton:Brooke, that was great.
Chris Walton:Thanks so much.
Chris Walton:All right.
Chris Walton:And I, and I really enjoyed that conversation with Brooke and I got to tell you, and too I've been getting inspired by all kinds of conversations we've been having about marketplaces recently.
Chris Walton:And so I also decided.
Chris Walton:News flash everyone.
Chris Walton:I decided to write a manifesto and I'm calling it.
Chris Walton:Oh my God, the Marketplace Manifesto.
Ann Mazinga:How much time do we need for this manifesto?
Ann Mazinga:Give us estimated article read time.
Chris Walton:Here it is.
Chris Walton:It's actually a pretty quick read given you know, my normal article length.
Chris Walton:But, but yeah, I wrote it.
Chris Walton:I wrote an actual manifesto for all e commerce leaders that they can share with their bosses to help push through chains for all those that have being beating their heads against the wall to expand their assortment and keep running against online traditional merchants that just can't understand the value of an expanded online digital assortment.
Chris Walton:So I call Anne, you know what I called?
Chris Walton:I called it don't leave money on the table.
Chris Walton:How to rethink your marketplace strategy.
Ann Mazinga:Okay.
Ann Mazinga:Okay.
Chris Walton:Pretty straightforward, right?
Ann Mazinga:Where can we find that that manifest show?
Chris Walton:Funny you should ask.
Chris Walton:And I will put it in the link.
Chris Walton:I will put a link in the podcast, show notes and as well as you can find it on, on Omnitalk on the blog.
Chris Walton:Right on the homepage too for those interested.
Chris Walton:But it's a fun article.
Chris Walton:It's a fun read and I definitely it was very personal because there's a lot of A lot of past experience in that article.
Chris Walton:A lot of past battle scars and all right, headline number four.
Chris Walton:Dollar General is slowing down its fresh produce rollout.
Chris Walton:According to Grocery Dive.
Chris Walton:Dollar General's efforts to bring fresh produce, not produce produce to locations will continue into the new year, but at a slower pace compared to years prior.
Chris Walton:Dollar General's plan.
Chris Walton: more locations in: Chris Walton: From: Chris Walton:However, $ General still has ambitious store update plans in the new year.
Chris Walton: During the fiscal year: Chris Walton:That sounds like an exact number.
Ann Mazinga:Very specific.
Chris Walton:Yeah.
Chris Walton: store openings in the US and: Chris Walton:And is Dollar General's fresh rollout slowdown just an example of good capital allocation or do you think there's more going on here?
Ann Mazinga:I think it's a little bit of both, Chris.
Ann Mazinga:I think that, number one, this shows me that operating a grocery concept, especially one that includes fresh produce, isn't as easy as it might seem.
Ann Mazinga:And even though you have the best financial modelers at Dollar General, I think you still can't predict, you know, how consumers buy the cost of food, like inflation.
Ann Mazinga:Especially, you know, with Dollar General kind of bringing this, it's still relatively new to some of the Dollar General stores being able to purchase these things.
Ann Mazinga:So I actually think that, you know, they've already got a good pilot going with 5,000 stores and I think they're smart to kind of slow roll the rest of the rollout because they, they're still learning from it and they're still having to develop.
Ann Mazinga:And like I said at the beginning, like there's, it's still a very volatile and low margin industry grocery.
Ann Mazinga:So I think like you have to be really able to flex and learn as you continue to expand, especially at the pace that they were going to do that.
Ann Mazinga:So I'd be doing the same thing if I was Dollar General.
Ann Mazinga:I'd be kind of phasing this out slowly.
Ann Mazinga:And the other thing I'd be watching too is, you know, as Walmart is still gaining share in grocery and that's a lot of the other retailers that's closest to people in these Dollar General Geographies like, that's something.
Ann Mazinga:They're low.
Ann Mazinga:Low pricing is something that you're going to have to contend with, too.
Ann Mazinga:So that's something else that kind of plays into this as a.
Ann Mazinga:As a tertiary factor.
Ann Mazinga:So I think it's.
Ann Mazinga:It's both like modeling the financial component of this and then figuring out operations of, of running a grocery concept inside of a dollar store.
Ann Mazinga:But where do you.
Ann Mazinga:What do you think about this?
Ann Mazinga:I mean, is this.
Ann Mazinga:Do you think it's.
Ann Mazinga:It can be modeled correctly?
Ann Mazinga:Like, where.
Chris Walton:Yeah, yeah.
Chris Walton:No, yeah.
Chris Walton:In reality, the question I ask you is kind of silly, you know, because in reality, like, if you're going to.
Chris Walton:If you're going to reallocate your capital, it's probably both.
Chris Walton:Right.
Chris Walton:It's probably.
Chris Walton:It's clearly not doing or not producing the ROI that they initially thought it was.
Chris Walton:And so especially compared to the standard remodels.
Chris Walton:So they're reinvesting their capital.
Chris Walton:They're smart and, you know, and I think.
Ann Mazinga:And is that common, Chris?
Ann Mazinga:Like, you worked on Fresh, like putting Target Fresh together.
Ann Mazinga:Like, where does.
Ann Mazinga:How does that.
Chris Walton:It's actually, it's actually not that common, I would say, because, okay, retailers double down on things they've said.
Chris Walton:So I actually give a lot of kudos to them for saying, okay, you know, we're still going to do it.
Chris Walton:We're going to slow it down.
Chris Walton:We're going to do it in the stores.
Chris Walton:We think, sure, you know, we're still going to do 300 stores.
Chris Walton:We're going to do it in the stores where I think it's going to have the biggest impact.
Chris Walton:The other thing, I'll say, because I think we talked about this when they first announced strategy.
Chris Walton:Zach Brining is there.
Chris Walton:He's former army star Zach Burning.
Chris Walton:He was actually in charge of Target's fresh rollout, so.
Chris Walton:So they have people inside Dollar General that know how to do this as well as anyone out there.
Chris Walton:So I just think.
Chris Walton:I just think Net Net, to me, it actually feels like a smart move on paper.
Chris Walton:And I don't think I'd read anything more into it than that, honestly.
Ann Mazinga:Yeah.
Ann Mazinga:Yeah.
Ann Mazinga:All right, well, let's.
Ann Mazinga:That's.
Ann Mazinga:That.
Ann Mazinga:It's.
Ann Mazinga:It's all wrapped up there.
Ann Mazinga:We gotta check the box.
Ann Mazinga:Check done.
Ann Mazinga:All right.
Chris Walton:Pragmatic discussion.
Ann Mazinga:Yeah, right.
Ann Mazinga:Headline number five.
Ann Mazinga:Elf loyalty members now have access to a 3D virtual experience lounge.
Ann Mazinga:Chris.
Ann Mazinga:According to Internet Retailing, Elf Beauty has opened a digital shopping lounge for its beauty squad members in the UK and US which enables them to shop new product drops for the holiday season and access exclusive offers.
Ann Mazinga:Partnering with immersive virtual shopping platform, Obsessed Elf has introduced a speakeasy themed 3D store for members of its loyalty program.
Ann Mazinga:The Virtual Luxe Lounge is designed to offer a virtual experience exclusive to Elf's most engaged audience, giving them a new way to shop.
Ann Mazinga:Ekta Chopra, the chief digital officer at Elf Beauty, had this to say about the effort.
Ann Mazinga:Quote, elf Beauty Squad members are incredibly important to us, and we're excited to bring them an exclusive shopping experience that will give them new ways to earn and redeem rewards.
Ann Mazinga:End quote.
Ann Mazinga:Chris, are you buying or selling Elf Beauty's Virtual Luxe Lounge?
Chris Walton:Oh, man.
Chris Walton:And if I was pragmatic on the last headline, this one I'm going to get unhinged on.
Chris Walton:I'm.
Chris Walton:I'm selling.
Chris Walton:I'm selling this about as hard as anything I've ever sold on this show before.
Chris Walton:That's.
Chris Walton:That's.
Chris Walton:That's what I'd say.
Chris Walton:Okay.
Chris Walton:I checked out the experience on YouTube too, because not surprising, I'm not an ELF loyalty member, so I can't access it.
Chris Walton:And it's.
Chris Walton:It's.
Ann Mazinga:Honestly, I couldn't even access it as an Elf Loyalty member either.
Chris Walton:Oh, man.
Chris Walton:Wow.
Chris Walton:Brutal.
Chris Walton:It's.
Chris Walton:It's.
Chris Walton:And, And.
Chris Walton:But I got a good sense of what it is on YouTube.
Chris Walton:And sure, it's nothing.
Chris Walton:It's nothing to write home about, in fact.
Chris Walton:And I'm so tired of the 3D gimmicks that everyone puts out every single year.
Chris Walton:I'm so tired of it.
Chris Walton:Because the question I always ask is, how are you getting traffic?
Chris Walton:Feels like it's a waste of time, money, resources to me compared to so many other options you could do, especially when you're putting it on a standalone experience, like, off your website.
Chris Walton:Just makes no sense, like.
Chris Walton:But compared to, like, live streaming broadcasts for your loyalty members or, you know, other initiatives inside of TikTok or Roblox even, where the traffic's already built in.
Chris Walton:So for me, and honestly, the day can't come soon enough when I stop seeing these ridiculous standalone 3D shopping experiences powered by obsess, Penetro or whoever the heck else someone sold somebody on their unique 3D platform, which.
Chris Walton:God, it feels like there's so many of those, too.
Chris Walton:Yeah, that's my take.
Chris Walton:And do you agree?
Chris Walton:Disagree?
Chris Walton:What angles am I missing?
Chris Walton:Or are you.
Chris Walton:Or am I.
Chris Walton:Am I converting you?
Chris Walton:I'm curious.
Ann Mazinga:I mean, I think I'm trying to find the angles that we might be missing.
Ann Mazinga:Scene one.
Ann Mazinga:This is not for us.
Ann Mazinga:Like, we just are.
Ann Mazinga:I don't know if we're too old.
Ann Mazinga:We're outside of the generation that's interested in these 3D experiences.
Ann Mazinga:Like maybe there's somebody that's interested in them.
Ann Mazinga:It's not me.
Ann Mazinga:I agree with you wholeheartedly.
Ann Mazinga:Like I'm a be, I'm a, a reward.
Chris Walton:It's not working for you.
Chris Walton:Probably not that many other people are.
Ann Mazinga:I couldn't even find it on the site or app.
Chris Walton:Right.
Ann Mazinga:Like, that's the part like I, I was like, maybe, you know, traffic driver.
Ann Mazinga:Yeah, as long as you can access it.
Ann Mazinga:Well, you can't access it.
Ann Mazinga:As far as I could, I could see in the app.
Ann Mazinga:But here's the thing, here's one.
Ann Mazinga:I like the loyalty play here.
Ann Mazinga:I do think that retailers are smart to be investing in unique experiences for your loyalty members.
Ann Mazinga:Because when I go into Elf does have a few stores, but when I go into a Sephora or an Ulta or a Target or a Walmart, like if I'm a rewards member, they're calling attention to that in the store.
Ann Mazinga:They know that I'm a rewards member.
Ann Mazinga:I get points, I get offers.
Ann Mazinga:Like they're targeting me in that way.
Ann Mazinga:And I think as we heard again from when we interviewed Sarah Patempa from Beachwaver, she, she stressed this when she was talking about the importance of live video on your site.
Ann Mazinga:Like this is you have to create a similar experience online that your customers are getting when they go into a store.
Ann Mazinga:And I think they're, you know, I don't think that 3D, you know, a virtual showroom is how I would do it.
Ann Mazinga:I would go with exactly what you said, which is doing live, putting live video on your site to kind of replicate or really good Jenny search on your site to kind of replicate that experience that you'd get with someone in store.
Ann Mazinga:But I do think that it's worth retailers really taking a look at investing in.
Ann Mazinga:How do you give me the same loyalty experience that I have in your store on.
Ann Mazinga:In an online environment?
Chris Walton:So yeah, those are the things that.
Ann Mazinga:I'm trying to dig up here.
Chris Walton:But, but the funny thing about that is like that kind of goes without saying, you know, like, of course, I mean that's.
Chris Walton:It kind of goes without saying.
Chris Walton:Like you need to, you're going to want to make your loyal customers feel special, right?
Ann Mazinga:Yeah.
Chris Walton:Well, that's my point.
Chris Walton:That's my point.
Chris Walton:Why I don't like it is like for the money it costs to do this, you could probably hire a great celebrity influencer.
Chris Walton:Do a live stream exclusive for your loyalty members and pound out a lot more volume and make them feel a lot more special and interactive.
Chris Walton:Yeah, but I'm not just saying you could actually probably do something very, very cool for your loyalty members that make them feel way more special than looking at some 3D thing that, you know, you and I have seen countless times.
Ann Mazinga:You could probably.
Ann Mazinga:Yeah, you could probably with.
Ann Mazinga:I don't know exactly how much the 3D showroom cost, but my guess is you'd be able to invest in putting a video that you had either, you know, you source from user generated content or your own employees on every single product page for that same amount of money.
Ann Mazinga:And that would.
Ann Mazinga:You'd see much higher engagement and much.
Chris Walton:More value, but just for the items that are in the 3D showroom.
Chris Walton:Yeah, maybe.
Chris Walton:I don't know.
Chris Walton:It's hard to say, but I was just thinking, like, you could pay somebody $100,000 to do.
Chris Walton:You know, I got to think this costs at least $100,000.
Chris Walton:You could pay some celebrity $100,000 to show your products and, and depends interactive with them, like, like we saw Dolly do last week.
Chris Walton:So.
Chris Walton:So anyway.
Ann Mazinga:All right, well, I bet Dolly's making more than a hundred grand.
Ann Mazinga:But, but yes, you could get.
Ann Mazinga:You could get somebody off a cameo.
Ann Mazinga:That's real good.
Chris Walton:She is, for sure.
Chris Walton:But $100,000 for an hour is pretty damn good.
Chris Walton:So that's.
Chris Walton:I mean, that's more than some of the.
Chris Walton:The bands make at the conferences we go to.
Chris Walton:So I don't know.
Chris Walton:But, but yeah, sorry, actor, like, not liking this one.
Chris Walton:Not liking this one at all.
Chris Walton:I think it's a bad move.
Chris Walton:All right, let's see the lighting round.
Ann Mazinga:All right, Headline number one in the lightning round, Chris.
Ann Mazinga:Dolly Parton, Speak of the Devil, is holding an open casting call for her Broadway production about her life.
Ann Mazinga:Chris, anyone.
Ann Mazinga:I said anyone can audition, including for the role of Dolly herself.
Ann Mazinga:If you were to audition, Chris, which would you choose to sing?
Chris Walton:Oh, man.
Chris Walton:Oh, man.
Chris Walton:I think I'd go Islands in the Stream.
Chris Walton:Actually, Aaron, not nine to five.
Chris Walton:I'd go island in the Stream.
Chris Walton:The gambler.
Chris Walton:I kind of man, yeah.
Chris Walton:I kind of man crush on Kenny.
Chris Walton:I kind of man crush on Kenny Rogers.
Chris Walton:I've got the beard now.
Chris Walton:I've got the theater background, so.
Chris Walton:So Dolly, give me a call.
Chris Walton:I'm here.
Ann Mazinga:Oh, my God.
Ann Mazinga:Oh, my God.
Ann Mazinga:Chris Walton as Kenny Rogers on Broadway.
Ann Mazinga:I'm going to see it.
Ann Mazinga:Forget on.
Chris Walton:I definitely would need a wig.
Chris Walton:I got the beard, but I don't have the flow.
Chris Walton:I don't have the flow.
Ann Mazinga:We can definitely be arranged.
Chris Walton:Yeah, right, right.
Chris Walton:Yeah.
Chris Walton:In today's world, there's a lot of.
Chris Walton:A lot of fake flow going on.
Chris Walton:Oxford University Press named brain rot as the dictionary word of the year.
Chris Walton: phrase shot to popularity in: Chris Walton:And how much has brain rot upended your daily life?
Ann Mazinga:Oh, my God.
Ann Mazinga:Whatever.
Ann Mazinga:The exact number of minutes is that I spend on social media, that's brain rot.
Ann Mazinga:That's how much brain rot has impacted my life.
Ann Mazinga:That many minutes.
Chris Walton:Oh, yeah.
Chris Walton:But this is.
Chris Walton:I think this is also the brain.
Chris Walton:The, like, the skibidi stuff and all that kind of stuff.
Chris Walton:Like, has that infiltrated your house as well?
Ann Mazinga:Yes, but I guess I don't equate that to brain rot.
Ann Mazinga:I feel like that's just, like, the vernacular of the kids.
Ann Mazinga:These kids these days, you know?
Chris Walton:Oh, yeah, it's actually that.
Chris Walton:It's actually the name that catches, like, all of that language as well.
Chris Walton:So that's why I was wondering, like, how much it's impacted you, because it has definitely thwarted the quality of life in the Walton household.
Ann Mazinga:And, oh, my God.
Chris Walton:Yes, the kids.
Chris Walton:My kids have been very disruptive using brain rot.
Chris Walton:Ish language at school, and I've been talked to by the teachers many times about that usage, so I was curious if it's impacted your.
Ann Mazinga:I thought brain rot was, like.
Ann Mazinga:When I think of brain rot, I think of, like, wasted time.
Ann Mazinga:Like, what, your brain is rotting from this, like, bad television or whatever.
Ann Mazinga:Like, some brain rot is related to language.
Ann Mazinga:Okay, well, I'd have to rethink that one because I don't know the answer.
Ann Mazinga:We have a lot of skibidi, and I can't even think of the other words right now, but, yes, that's definitely happening in my house.
Chris Walton:Yeah, like, there's just crazy words like Ohio and.
Chris Walton:And Riz and.
Chris Walton:And simp and.
Chris Walton:I don't know.
Chris Walton:I don't know.
Ann Mazinga:Oh, yeah.
Ann Mazinga:Okay.
Ann Mazinga:Well, let's go to question number three.
Ann Mazinga:Hopefully you know more about this one than I did about the last one.
Ann Mazinga:Shabuzi just set a record for the most consecutive weeks with a number one hit song for Bar Song, which contains the lyrics, pour me up another shot of whiskey.
Ann Mazinga:You know, me and Jack Daniels got a history, Chris.
Ann Mazinga:If not Jack Daniels, which spirit do you have a history with?
Chris Walton:Oh, I definitely don't.
Chris Walton:I'm definitely not pouring myself a shot of Dak Daniels.
Chris Walton:Yeah, because I have a history with Jack Daniels, and I can never go back.
Chris Walton:In fact, I can't even smell Jack Daniels.
Chris Walton:And.
Ann Mazinga:No, really, why?
Ann Mazinga:What happened?
Chris Walton:Oh, God, do I want to tell this story?
Chris Walton:Okay, so I was 18.
Chris Walton:I went on a lake trip to Lake Nasimiento in California.
Chris Walton:Went on a lake trip with some ASU guys that I had met that summer who are much older than me, all over 21.
Chris Walton:And we started.
Chris Walton:We were out on the lake all day, and then went back to the lake house and started playing bumper pool.
Chris Walton:And I was, like, out of my mind with bumper play.
Chris Walton:And I was pulling off shots like no one would believe.
Chris Walton:And I was.
Chris Walton:And so.
Chris Walton:And I was drinking more shots of Jack Dallas than anything.
Chris Walton:And then.
Chris Walton:And so there's a video.
Ann Mazinga:It's not even, like, Jack and Coke or anything.
Chris Walton:No, just shots.
Chris Walton:Shots.
Chris Walton:And I'm, like, new to drinking, like, relatively three months into drinking, and.
Chris Walton:And there's a video of it.
Chris Walton:I think I still have it.
Chris Walton:It's, like, on vhs.
Chris Walton:I think I still have it.
Chris Walton:You just watch me just at one point, just fall over.
Chris Walton:Like, I'm just flat out, like, I'm.
Chris Walton:I'm lucky I didn't have to go to the hospital.
Chris Walton:And so the next morning, I wake up.
Chris Walton:The next morning I wake up, everyone's super.
Ann Mazinga:Why were they videoing you?
Chris Walton:Oh, we were all videoing everything.
Chris Walton:You know, it's back with camcorders and stuff, you know?
Chris Walton:And so the next morning, I wake up and everyone's asleep.
Chris Walton:And I burge.
Chris Walton:I bar.
Chris Walton:I barge into the house.
Chris Walton:I'm like, did I jump into the lake yesterday?
Chris Walton:Was I so drunk that I jumped into the lake?
Chris Walton:And they're like, dude, no.
Chris Walton:And I'm like, oh, right.
Chris Walton:And so.
Chris Walton:So let's just say I was washing mattresses the rest of the day.
Chris Walton:So anyway, I cannot smell Jack Daniels anymore.
Chris Walton:And so to answer your question, if I had to pour myself anything, it would be a shot of Don Julio.
Chris Walton:That's middle of the road.
Chris Walton:Tequila.
Ann Mazinga:Oh, my God.
Ann Mazinga:Oh.
Chris Walton:All right, let's get out of here before we.
Chris Walton: i's is piloting a comeback in: Chris Walton:I actually have two questions for you on this end.
Chris Walton:First, when I say Chichis, what is the first thing that comes to your mind?
Chris Walton:And then second, fried ice.
Chris Walton:Wow, really quick on that one.
Ann Mazinga:Yeah.
Chris Walton:Okay.
Chris Walton:And then second, in the pantheon of chain restaurants, do you think Chi Chi's is over underrated or properly rated?
Ann Mazinga:I haven't been there in so long.
Ann Mazinga:I feel like I'm not equipped to correctly answer this question.
Ann Mazinga:What do you think?
Chris Walton:Well, I see.
Chris Walton:I thought chichi.
Chris Walton:I mean, I remember my first chichi's experience in like the 80s and it was pretty baller.
Chris Walton:Like I thought it was pretty, pretty decent.
Chris Walton:And you know, like all the, like TGI Fridays too.
Chris Walton:Like all these chain restaurants that were one time awesome, they just get destroyed.
Ann Mazinga:Yeah.
Chris Walton:So I actually think chichi's, when I think about all my chain restaurant experiences is actually underrated.
Chris Walton:Underrated?
Chris Walton:Yeah.
Chris Walton:Like Red Lobster, I would say properly rated, you know.
Ann Mazinga:Oh, God.
Ann Mazinga:Over.
Chris Walton:Yeah.
Chris Walton:Or overrated properly to overrated.
Chris Walton:But chichi's, I would say underrated.
Chris Walton:TGI Fridays probably properly rated now, but I don't know.
Chris Walton:But that's why, that's why I think.
Chris Walton:What do you think?
Ann Mazinga: I mean, yeah, by: Ann Mazinga:That place is amazing.
Ann Mazinga:I loved Chi Chi's.
Ann Mazinga:Like I always wanted to go.
Ann Mazinga:I think I only got to go like twice.
Ann Mazinga:And one was right for the fried ice cream that you always saw the like advertisements for on tv.
Ann Mazinga:But yeah, I don't know.
Ann Mazinga:I mean, I like their, I buy their salsa today.
Ann Mazinga:Like they still have products on shelves that are.
Chris Walton:Oh, yeah, that's right.
Chris Walton:So I think of their salsa, I.
Ann Mazinga:Would try it out.
Ann Mazinga:I would definitely go, why not?
Ann Mazinga:Like, it's a, it's a Mexican place that, you know, you get, you know what you're going to get, I think, and then you'll be properly surprised if it's a good experience.
Chris Walton:It's a great point.
Chris Walton:It's a great point.
Chris Walton:And I like the standard Mexican.
Chris Walton:Good.
Chris Walton:Standard Mexican.
Chris Walton:Like, I like good.
Chris Walton:There's too much fruit, fruity Mexican food right now.
Chris Walton:Too much high end, expensive Mexican food restaurant, particularly in Minneapolis too.
Chris Walton:We don't have a good.
Chris Walton:Just go to Mexican restaurant.
Ann Mazinga:You haven't been to La Cadre.
Chris Walton:Yeah, yeah, we'll get you, we'll find you some.
Ann Mazinga:We gotta do, right?
Chris Walton:I have it, actually.
Chris Walton:I did find a good Mexican restaurant that's very, very authentic too and very affordable, which I'll have to tell you about.
Chris Walton:But I will keep that from our national audience here and all right.
Chris Walton:Happy birthday today to writer Strong.
Chris Walton:Our international audience, actually.
Chris Walton:Happy birthday today to writer strong, Donna Mills and to Josh Allen's new fiance, Haley Steinfield.
Chris Walton:Stein.
Chris Walton:Ah, shoot.
Chris Walton:Is it Steinfield?
Chris Walton:Steinfeld, Right?
Chris Walton:Yeah.
Chris Walton:I don't know if I wrote that wrong or not.
Chris Walton:Steinfeld.
Ann Mazinga:Sorry.
Chris Walton:And remember, it's so hard.
Chris Walton:It's Yes, I should have gotten that right.
Chris Walton:And remember, if you can only read or listen to one read, you know who that is though.
Chris Walton:That's good.
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Chris Walton:And our daily newsletter, the Retail Daily Minute, tells you all you need to know each day to stay on top of your game as a retail executive.
Chris Walton:And it also regularly features exclusive content that Ann and I take a hell of a lot of pride in doing just for you.
Chris Walton:Thanks as always for listening in.
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Chris Walton:You can follow us today by simply going to YouTube.com omnitalkretail so until next week, on behalf of all of us at Omnitalk Retail, be careful out there.
