Podcasts about walmart ecommerce

S5:E1 Unleashing Retail Media's Potential: A Conversation with Drew CashmoreWelcome to Season 5 of the Retail Razor Show! In our premiere episode, hosts Ricardo Belmar and Casey Golden dive deep into retail media with special guest Drew Cashmore, Chief Strategy Officer at Vantage and a pioneer in the retail media space, with a background scaling Walmart Connect to a $2 billion business. Drew shares his insights on the evolution of retail media, the driving forces behind its rapid growth, and the challenges retailers face in scaling their media networks. Drew also discusses the importance of workflow automation, the use of first-party data, and the balance between digital and in-store media. We highlight the necessity for retailers to invest in their media capabilities to stay competitive and speculate on the future direction of retail media. We also touch on the complexities of managing multiple media platforms and the potential for consolidation within the industry. Packed with valuable insights, don't miss out on this must-listen episode for product junkies, commerce technologists, retail leaders, and everyone in retail tech! Plus, learn about the Retail Razor Podcast Network's exciting new shows!About Drew Cashmore:Drew is a retail media strategist and thought leader with a background in building, commercializing and scaling new business models in the retail sector across the globe. Heading up strategy for Vantage - the platform that powers self-serve and managed-service for The Home Depot among other retailers - Drew is helping to architect the next generation of unified retail media technologies. He was an original architect of and former executive at Walmart Connect in the U.S. and Canada, helping to scale the retail media business to $2BN and beyond. In addition, Drew was a founding member of Walmart eCommerce and the CMO of SoftBank-backed Live Shopping platform, Firework.Subscribe to our Newsletter: https://retailrazor.substack.comSubscribe to our YouTube channel: https://bit.ly/RRShowYouTube00:00 Show Intro07:38 Unleashing Retail Media's Potential: A Conversation with Drew Cashmore08:43 Drew's Background in Retail Media10:28 The Evolution and Challenges of Retail Media14:18 ROI and Measurement in Retail Media18:34 The Future of Retail Media26:41 First-Party Data and Consumer Privacy34:47 In-Store Media and Workflow Automation47:21 Retail Media is a Different Business Model50:06 Conclusion and Final Thoughts51:05 Show CloseMeet your hosts, helping you cut through the clutter in retail & retail tech:Ricardo Belmar is an NRF Top Retail Voices for 2025 and a RETHINK Retail Top Retail Expert from 2021 – 2024. Thinkers 360has named him a Top 10 Retail Thought Leader, Top 50 Management Thought Leader, Top 100 Digital Transformation Thought Leader, and a Top Digital Voice for 2024. He is an advisory council member at George Mason University's Center for Retail Transformation, and is the director partner marketing for retail & consumer goods at Microsoft.Casey Golden, is the CEO of Luxlock, a RETHINK Retail Top Retail Expert for 2023 and 2024, and Retail Cloud Alliance advisory council member. Obsessed with the customer relationship between the brand and the consumer. After a career on the fashion and supply chain technology side of the business, now slaying franken-stacks and building retail tech!Includes music provided by imunobeats.com, featuring Overclocked, and E-Motive from the album Beat Hype, written by Heston Mimms, published by Imuno.

In this enlightening episode of Nodes of Design, we dive deep into the concept of Ikigai with Alice Au Quan, exploring how this Japanese philosophy can help design a purposeful and fulfilling career. Alice shares her expertise on applying Ikigai to discover the sweet spot between passion, talent, societal needs, and financial sustainability. We tackle common misconceptions about finding career purpose and discuss how design thinking can bridge these gaps. Alice opens up about her personal journey, revealing how she has applied Ikigai principles to navigate challenges and create a meaningful work life. We also explore actionable strategies for uncovering your passions and talents, using them as a foundation to transition into a dream career. Listeners will gain insights on incorporating Ikigai into design practices to craft products and experiences that inspire purpose. Alice also shares her perspective on how the philosophy of Ikigai evolves in a world shaped by automation and AI. Tune in for practical wisdom and inspiration to design a career aligned with your true self! Alice Au Quan, a design executive, futurist, and quantum thinker with an outstanding track record of driving innovation. Alice champions a human-centered, design-first approach to business, believing it can shape a better future for everyone. Over the past two decades, this belief has fueled her leadership journey, helping companies leverage cutting-edge technologies—such as Generative AI, LLMs, AR and blockchain—to identify untapped opportunities, solve user needs, and accelerate growth. She has since held design leadership roles at global companies like Google, Walmart eCommerce, and Procter & Gamble, as well as at high-growth startups in Fintech, like Ripple where she has crafted transformative user experiences. Fun fact, she even worked on MOSAIC, the first internet browser! A creative and business leader, Alice's career spans UX, product, and brand design, consistently delivering user value and business impact, earning her multiple patents. Her leadership philosophy is rooted in inclusivity and compassion, with Ikigai and purpose-driven leadership central to her mission. Ways to connect with Alice: LinkedIn: www.linkedin.com/in/aliceauquan/ Website: aliceauquan.com Instagram: aliceauquan X: @aliceQdesign Thank you for listening to this episode of Nodes of Design. We hope you enjoy the Nodes of Design Podcast on your favorite podcast platforms- Apple Podcast, Spotify, Google Podcasts, Amazon Music, and many more. If this episode helped you understand and learn something new, please share and join the knowledge-sharing community Spreadknowledge. This podcast aims to make design education accessible to all. Nodes of Design is a non-profit and self-sponsored initiative by Tejj. #design #creativity #life #purpose #career

From saving Valentine's Day with last-minute flower deliveries to ensuring your picnic continues uninterrupted with snacks delivered via drone, Walmart redefines convenience. We discuss with Vijay Jayaraman, Senior Director of Product at Walmart eCommerce, how these strategies are implemented across 4500 stores to create seamless, memorable customer experiences.In this episode of a new 5-part series, Elevating to the C-Suite, Vijay talks about Continuous Digital Optimization (CDO), strategies for eliminating customer friction, evolving with customer needs, and harnessing technology and insights to revolutionize the customer experience.Listeners will learn:How Walmart leverages its extensive store network to facilitate same-day deliveries, offering solutions that exceed traditional online shopping expectations.The impact of advanced technologies like drone deliveries on everyday convenience, and how these innovations are integrated into Walmart's customer service strategy.Strategies Walmart employs to handle potential disruptions and ensure a seamless return process, enhancing overall customer satisfaction and loyalty. 

Cubicle to Corner Office: The Ultimate Survival Guide to Your First Job! Mike Halpert is a product management executive with over 20 years of experience at technology firms such as Walmart ECommerce, Google and Thrasio. He has an MBA from the USC Marshall School of Business. In addition to his day job, Mike enjoys coaching and mentoring early career talent. Professionalism and soft skills are applicable whether you are in a Fortune 500 company or working for a small non-profit. These foundational skills ensure that everyone on your team is effective and accountable to each other to get the job done. More at - https://firstjoboutofcollege.com  Learn more about your ad choices. Visit megaphone.fm/adchoices

Amazon's FBA helped many brands get established and succeed, and ACV Partners offers you the same opportunity in some of most exciting new e-commerce marketplaces, including Walmart, Etsy, and TikTok Shop. Go to https://www.acvpartners.ai/ for more information. ACV Partners City: Miami Beach Address: 1680 Michigan Avenue Website: https://www.acvpartners.ai

Yvonne has 20 years of merchandising and digital experience in the retail industry. Her career has spanned working at retailers like Saks Fifth Avenue, Gilt Groupe and Walmart Ecommerce. On this episode, she speaks with Julie Kim about a series of career pivots that led from aspirations of a legal career to one in fashion all because a classmate asked her if she'd be interested in a job position she knew nothing about.

This week I interviewed Yoav Grossman, VP of Product & Engineering at Spinach.io about how they went about identifying potential use cases for LLMs within their product, spiking, implementing, and releasing an offering. It's a great mini-case study of the steps involved in adding GenAI to a product thoughtfully, but quickly. Spinach is a smaller startup, but the lessons are applicable to companies of all sizes, and previously, Yoav was Head of Product for Asurion Health, Head of Global Business Process at Uber, and a manager for Walmart eCommerce.

"I think Augmented Reality is very close in our near future… AR might be one of those items where consumers are adopting fully as their day-to-day." - Kenneth Chong   Kenneth is a native New Yorker who is Growth Marketing Lead at Mona. Prior to Web3, Kenneth was doing growth marketing at ecommerce companies like Rent the Runway, Walmart Ecommerce, and Jet.com. He started out his career in marketing with a Paid Search role at Razorfish and has climbed his way up to his current position with Mona. In this interview, we discuss many varying topics with Kenneth… from digital marketing to Twitter, Discord Servers, and their relationship to Web3.    Website: https://monaverse.com/ LinkedIn: https://www.linkedin.com/in/kennethchong/ Instagram: https://www.instagram.com/monaverse/

"I think Augmented Reality is very close in our near future… AR might be one of those items where consumers are adopting fully as their day-to-day." - Kenneth Chong   Kenneth is a native New Yorker who is Growth Marketing Lead at Mona. Prior to Web3, Kenneth was doing growth marketing at ecommerce companies like Rent the Runway, Walmart Ecommerce, and Jet.com. He started out his career in marketing with a Paid Search role at Razorfish and has climbed his way up to his current position with Mona. In this interview, we discuss many varying topics with Kenneth… from digital marketing to Twitter, Discord Servers, and their relationship to Web3.    Website: https://monaverse.com/ LinkedIn: https://www.linkedin.com/in/kennethchong/ Instagram: https://www.instagram.com/monaverse/

In this episode, Garrett Clark meets with Joana McKenna, CEO of Jane. Jane is an e-commerce marketplace that houses more than 2,000 shops and big brand and designer names. In their discussion, Joana explains Jane's current business model and how Jane is planning on simplifying the process for designers to move their product directly onto Jane's marketplace platform. Joana also shares her life story and how she became CEO of Jane. Joana has over 20 years of experience in high-growth e-commerce businesses. She has held key leadership roles in sales, general management, product management, marketing, supply chain and operations at Walmart eCommerce, Johnson & Johnson and Amazon. Outline of the conversation: 0:00 Introduction 0:30 Introduction to Jane 2:30 Business model 4:15 Evergreen marketplace 5:45 Getting signed up 6:30 Curation 9:30 Advice to others 12:05 Joana McKenna background 15:00 Foundational principles 18:45 Being the CEO 25:00 Supporting sellers 28:00 Upcoming changes and events Show links: https://sell.jane.com https://jane.com Social:  Twitter - https://twitter.com/siliconslopes Instagram - https://www.instagram.com/siliconslopes/ LinkedIn - https://www.linkedin.com/company/silicon-slopes/ 

In this episode, Garrett Clark meets with Joana McKenna, CEO of Jane. Jane is an e-commerce marketplace that houses more than 2,000 shops and big brand and designer names. In their discussion, Joana explains Jane's current business model and how Jane is planning on simplifying the process for designers to move their product directly onto Jane's marketplace platform. Joana also shares her life story and how she became CEO of Jane. Joana has over 20 years of experience in high-growth e-commerce businesses. She has held key leadership roles in sales, general management, product management, marketing, supply chain and operations at Walmart eCommerce, Johnson & Johnson and Amazon. Outline of the conversation: 0:00 Introduction 0:30 Introduction to Jane 2:30 Business model 4:15 Evergreen marketplace 5:45 Getting signed up 6:30 Curation 9:30 Advice to others 12:05 Joana McKenna background 15:00 Foundational principles 18:45 Being the CEO 25:00 Supporting sellers 28:00 Upcoming changes and events Show links: https://sell.jane.com https://jane.com Social:  Twitter - https://twitter.com/siliconslopes Instagram - https://www.instagram.com/siliconslopes/ LinkedIn - https://www.linkedin.com/company/silicon-slopes/ 

EP303 - Amazon, Walmartand E-com Q4 Results  In this episode we cover: Amazon Q4 Earnings Walmart Q4 Earnings US Department of Commerce Q4 e-commerce data Discussion of Temu and other Social Commerce News Don't forget to like our facebook page, and if you enjoyed this episode please write us a review on itunes. Episode 303 of the Jason & Scot show was recorded on Thursday, February 23rd 2023. http://jasonandscot.com Join your hosts Jason "Retailgeek" Goldberg, Chief Commerce Strategy Officer at Publicis, and Scot Wingo, CEO of GetSpiffy and Co-Founder of ChannelAdvisor as they discuss the latest news and trends in the world of e-commerce and digital shopper marketing. Transcript Jason: [0:23] Welcome to the Jason and Scot show this is episode 303 being recorded on Thursday February 23rd 20:23 that's a lot of three Scott I'm your host Jason retailgeek Goldberg and as usual I'm here with your co-host Scot Wingo. Scot: [0:40] Hey Jason welcome back Jason Scott sure listeners it could have been worse we could have done it on 22 to 23 so there'll be a lot of tooth so we broke up the to smooth some threes. Jason: [0:52] I believe that was episode 223 was on that yeah. Scot: [0:56] I had I am not a big sports ball person but I watched the Super Bowl every year for the commercials and I had, I know you're the grand poobah of all things advertising and I had an ad question for you. Jason: [1:12] Yeah awesome you've come to the right place hit me. Scot: [1:15] What is to EMU and why is it not the same thing as wish.com. Jason: [1:22] That's a great question I can only partially answer so Teemu is a e-commerce site. In as far as I know at this point only in the United States of America it's owned by pin duo duo in China which often is called a PDD and depending on how you count PD is the second or third largest e-commerce site in China in China it's a super interesting gamified model where like you get your friends to go in on the deal with you and it drives your deal cost. Down so everybody saves more when you all by together kind of thing so it's a. Scot: [1:58] Okay group buying used to be called back in the day. Jason: [2:00] Social shopping exactly and so it's super interesting and they're doing really well so they launched an e-commerce site in the u.s. it appears that it's primarily a catalog they built by aggregating a wide variety of different. Producers in China and it does have very much of a wish Vibe like it's a lot of. Extraordinarily inexpensive apparel and you know inexpensive tchotchkes that you probably didn't know you need but like if you start browsing the side it for a.m. on a Friday night you're. You're gonna end up making some ill-advised purchases and then it seems like everything drop ships from factories. In China via u.s. post so they if you remember back in the day wish was like very slow shipping like to 26 weeks. T mood typically quote six to eight days they launched in November I ordered a couple shirts and they promised me like a delivery and they actually arrived in like five days to the United States. Scot: [3:07] Wow. Jason: [3:08] Yeah so it was reason via US Post Office in the u.s. portion at least and you know there's this. International postal treaty that probably meant it was super inexpensive for Teemu to ship it via US Post Office to the US. But what was interesting to me is I give you an idea of how cheap this stuff is the I ordered a dollar shirt that was forty percent off with free shipping so. I literally have 60 Cent shirt delivered from China and five days. Scot: [3:40] Cool is it like wish were eighty percent of the businesses hair extensions. Jason: [3:44] Yeah so I don't have a break it is a lot of that like it's a lot of like USB accessories and stuff I do think it's more heavy on apparel and I have talked to people that are more hip and in the know than me that think there's like, that you know it's very short-term apparel it's kind of disposable apparel so they're all the usual caveats about being an ecological disaster probably apply. But I have been told that they have that they like have some interesting on-trend Styles and things on that that like for some demographics it's the, the apparel selection is appealing but what I do know is they launched in November and when I looked at the year in and it's mostly on a mobile app when I looked at the year in app downloads, it was the eighth most downloaded shopping app. On iTunes so more downloads than eBay for example over the year and Timmy was only in there for two months and and so it's kind of funny I'm a little embarrassed I. [4:52] Posted some stats on LinkedIn about mobile apps and I said and don't sleep on Teemu it looks like they're running fast and then a week later they ran that Super Bowl ad that you saw which is certainly going to Goose their downloads more and literally right before the game I found out that my company publicist actually produced that Super Bowl at so, it may have seemed like I was promoting a client but In fairness to me I didn't know they were to client when I when I mentioned it. Scot: [5:20] Cool shouldn't you know who your clients are as a chief digital retail strategy officer. Jason: [5:25] I should as a first a first world problem in your business is when you have too many clients to know. Scot: [5:33] You're forgiven. Jason: [5:34] Or maybe that's just a sign of a bad a bed, employing my case but yeah you know holding company like publicist were a Federation of agencies and most of the agencies do their own thing so this is you know a cool creative agency that we have Saatchi & Saatchi out of Los Angeles, um and sure enough they did reach out to me to say hey we have a Commerce client and we'd love for you to come talk to them. Check out their Super Bowl hour and the next they're Super Bowl add in the next hour and so that's how I how I found out there are client thank you guys. Scot: [6:05] You're like you're like I totally predicted these guys would shoot up the charts. Jason: [6:09] I did I did I tried to take credit but seemed like shockingly not everyone in my company follows me on LinkedIn I know. Scot: [6:16] Should be over should be like part of the onboarding. Jason: [6:21] Sometimes I think it should but then other times I think of how many times has probably saved my career that like important people at work Dan see something I like I said I'm going to so I think on the aggregate I'm going to stick with it how it is. Scot: [6:31] Call any other trip reports or anything to go into before we jump into some news I know you're chomping at the bit to talk about some data. Jason: [6:39] Yeah so it is obviously well I guess it's always trade show season but this feels like a special version of trade show season next week is e tell West, in Palm Springs which is usually a good Joe but for sure a good boondoggle if you're trying to get out of the Chicago winter in February Palm Springs is a good, a good place to go so I'll be going there and I have a lined up a couple guests for folks to listen to in the in the subsequent weeks and then the end so that's the end of February the end of March is shop talked and so I'll be giving a talk at shop talk and. And talking to some folks there too so so a couple cool industry events on the on the horizon. Scot: [7:25] Cops are gonna have a little Gap and then we'll have some a lot of show reports to go over I guess. Cooper one of the things we wanted to start today was finally got the last piece of data from 2022 from the US Department of Commerce walk us through what your magic Tableau Data machine is Tanya. Jason: [7:47] Yeah so mid-February US Department of Commerce publishes this quarterly report on e-commerce and so the Q4 data from last year came out in mid-February and so now that we have qu for we can see a whole year so in 2022 us e-commerce sales were 1 trillion, 33 billion in sales so the first time we've officially exceeded a trillion dollars so that's kind of cool. [8:20] What's I guess slightly less cool depending on where you stand is the growth rate so that trillion dollars is 7.4% more than 20 21 largely because 2021. Was a like pretty astronomical year but but to put things in perspective. Over the last 10 years than normal growth rate for e-commerce is 16.4% so 7.4 percent is less than half of what our traditional growth would be. And it's actually the slowest rate of growth. Basically since e-commerce happened so so 2022 is not a, a stellar year for e-commerce growth, now when you look at that three-year stack you say how much did e-commerce grow since before covid it's up a lot it's up 81 percent. [9:17] And you know a trillion dollars total retail sales are about 7 trillion so e-commerce ends up being 14.6 percent of all retail sales, a lot of people like to talk about what percentage of course sales it is because like people don't tend to buy gas. Via e-commerce and Tull spiffy start selling gas and until recently people really weren't buying cars online so a lot of, we could debate the merits of this but a lot of people still have this definition of core retail which doesn't have Auto or gas in it and so if you take Auto and gas out and you say that trillion dollars is 21.5 percent of core retail which. Makes the us about the third or fourth highest e-commerce penetration country in the world. [10:07] Obviously I get a lot of these e-commerce Spike during covid and then kind of regress to the mean but. You know if you look at the e-commerce dollars growth. Were 36 percent above what we would have forecasted. Before covid started and we've sold like 275 billion a year more than we would have expected to sell this year so over the three years e-commerce has, has grown quite a bit and remained high but what is true and worrisome about 20 22 it's the lowest rate of growth we've ever seen and for the first time since e-commerce started. Retail actually grew faster than e-commerce so that the total retail growth number for last year was 8.2 percent versus the e-commerce rate of 7.4 percent so that's an interesting backdrop as we start to get all these. Q4 earnings reports flowing in. Scot: [11:09] Yeah and that's really just you know it's a reversion to the mean right so we had a surge in e-commerce so you Commerce is more coming down more so than retail surgeon is that if we charted that out is that what would see. Jason: [11:23] Ecommerce has not surged as I mean retail is not surged as much as e-commerce has come down so. Yeah so like on the whole the three years of the pandemic were very good to retail and very good to e-commerce the, when they happen with slightly different e-commerce is biggest year was the first year of the pandemic and retails biggest year was 20 was the second year of the pandemic so when you're looking at year over year sales Ecommerce is comping against a big number on the numerator while the denominator suddenly got a lot bigger, for retail and so when you look at it as a percentage of retail it definitely looks like it regress to the mean but when you just look at, net dollars people spend an e-commerce before and after the pandemic. We both we spend a lot more money at retail than we used to and we spend a lot more money on e-commerce than we used to and so the spoiler where the fear is. Is that the new normal or did we just pull in a bunch of demand and that bodes poorly for 2023. Scot: [12:31] Yes go for some tea leaves to help us kind of parse through that we had some interesting earnings first of all we wanted to chat about Amazon's fourth quarter the way I would kind of we didn't do a show on this one because it was really not that much to talk about to be honest with you so they came in just their dramatically lowered over the last couple quarters they have dramatically lowered the the back half of 22 so they the Q4 of this slightly beat that that new Lowered Expectations, and then their q1 guidance was in line with a little bit lower than what Wall Street was expecting but not enough to be super material one thing I thought you would find interesting is they took about a 3 billion dollar charge on restructuring there was they announced they laid off 18,000 people I think most people saw that, and that was 640 million but part of the charge was 720 million to impairment at fresh and go stores I thought you would find that interesting and I guess they had I guess those are the ones they must have planned a bunch of openings and now they've got all this kind of like you know they're kind of half pregnant with this bunch of real estate bunch of stores they want to launch and then they pause that. [13:44] And then one that was interesting to me is we work a lot with these Amazon DSP companies and I've often wondered who insures them because they bang the heck out of them and Amazon increase their reserves for Self Insurance in their transportation Network by 1.3 billion which I thought was interesting given that we see these things just 90% chance if you see an Amazon Prime van it's got a fair number of Dents & Dings on the side of it. Jason: [14:12] Yeah that's yeah that's a hard gig for a van although there probably are no easy gigs for van. Scot: [14:19] Yeah would you think about the freshen go. Jason: [14:21] Yeah so the grocery story is interesting right longtime listeners will remember Amazon kind of retreated from most of their non grocery, retail Concepts I want to say a quarter ago so they kind of they closed all the bookstores they closed the five-star stores and and they kind of said hey we're we're we're revisiting our brick and mortar strategy the one, aspect of brick-and-mortar that they continue to operate where these grocery stores that are called Fresh and these. [14:53] Convenience stores or grab-and-go food stores that are the Amazon go stores that just walk out technology and, you know grocery super important I talk about it all the time it's like the second biggest category of consumer spending and Retail and it's one category where Amazon hasn't done very well arguably Whole Foods hasn't done very well since Amazon bought them, and you know the magic question was where they going to invent a more successful grocery Concept in Amazon Fresh and then this quarter they answered that question no now essentially said we haven't found anything differentiated enough in the Amazon Fresh stores to make us want to scale them, rapidly we haven't given up on Grocery and we're going to continue to work on it and roll something new out but we're for sure pulling back on, growth strategy for this current fresh concept, and so so you know it sounds like hey they definitely don't think they've got brick-and-mortar figured out between fresh and Whole Foods and on delivery, last year, you know they started charging even for Prime members they started charging for delivery at Whole Foods and. [16:06] That way I have a hypothesis that that dramatically put a crimp in there, they're grocery e-commerce sales although in a lot of places in the country groceries are delivered by fresh not by Whole Foods so this quarter they also announced that they're adding a delivery fee even if you're a Prime member. For fresh grocery delivery so there is no free grocery delivery option at Amazon, um you know which in my mind puts them at a pretty significant disadvantage vis-à-vis, instacart Walmart and Kroger that are all aggressively acquiring customers with offers right now. Scot: [16:44] Yep Anderson tough category. Jason: [16:45] So grocery seems like a place where like Amazon has put some serious effort in and it has not won yet has not figured it out. Scot: [16:56] One of the other things that's weighing heavily on the minds of Amazon shareholders is the AWS Computing platform saw its growth really dip below 20% all the cloud providers are feeling this Google Microsoft I think Google has laid off a bunch of the people leading their Cloud effort Microsoft Azure is under a bunch of pressure as well and what's happening is as we hit some economic headwinds the users of these Cloud infrastructures are lots of startups that have venture capital and VC rounds are getting few and far between so they are reducing their loads and their trading down you know one of the things you can do on these platforms is have a machine with a certain computer, horsepower you can kind of say you know maybe I'll go down a couple rungs on the ladder of compute horsepower there and save a little bit and. So it's an area where companies are looking to save money very quickly because you're not locked into certainty or anything like that like you would, be with some software as a service platforms. Jason: [17:58] Yeah I think I'm not to give you credit but I think you were one of the first people I saw, talking about that phenomenon and then it became a big thing I think I like Twitter announced that they were slashing 75% of their salesforce.com seats and it just seemed like in the same way that like, you know Middle America when when budgets get tight you know everybody looks at their recurring spending and cuts all these you know apps they accidentally signed up for On the App Store and in the same way it feels like every company in America is like. Going on a SAS diet right now. Scot: [18:31] Yeah I you know I like to coin phrases we famously coined ship again on the show I call it's a split so when you wake up one day and you look around your company and you've got 200 different stats platforms that you're paying it's only $30 a seat a month but there's 1,000 employees using it and you got 200 of them that I can't do the math on that but it adds up very quickly, so a lot of companies are right-sizing, their SAS budgets one of the interesting beneficiaries of this was the Microsoft Azure platform had pressure but the the Office 365 has done amazing because what happens is people say well I'm using slack Dropbox. And you know maybe maybe one of the Google platforms and you know and I also have Office 365 will if you start to reconcile this you can drop drop box for OneNote and. OneNote Drive. Jason: [19:32] Know what you're right one drive. Scot: [19:35] OneDrive yeah and I can drop you no slack for, they have their own teams and then Zoom for teams and then so so Microsoft because they've got one of the most fullest sweets and almost everyone has Microsoft because of office kind of packed in there their they're a huge beneficiary of that SAS Bluett interestingly I think it was enough to offset the this the downgrades they saw it and measure. Jason: [20:04] Yeah that's super interesting. Scot: [20:06] Yeah one of the you know one of the interesting things that when you're in these weird Economic Times when these companies released their numbers it's late enough into the next quarter so this all came out kind of mid-February that they can give a little color and one of the on the current color. [20:23] Quarter, so they're talking about Q4 results but then sometimes they will drop a little bit what we're already we're seeing kind of right now so they did they did talk about AWS had kind of bottomed out at a 17 percent growth rate or something like that mid-teens, so Wall Street took that positively they also said you know they said we're seeing really improved efficiencies and the retail business which I think Wall Street took to mean they feel like they're at this right balance now of, Transportation warehouses and all those things that they had to shed if feels the feels like they're done based on kind of like what they're seeing, there's always this caveat that that's they've only seen 45 days of the corridor so who knows what the back after that looks like. [21:09] The real bright spot and this is interesting because there's this theme going on the economy where services are are kind of growing much faster than Goods and, at Amazon DE Prime Service Group re dramatically grew 17 percent over a year and acceleration from last quarter's 14% so so Wall Street found that really interesting and I think, you know it's hard to it's hard to know why people are picking Prime I think some consumers are going through a reconciliation with their streaming platforms and they're kind of just like that Microsoft example they're saying well if I go to Prime I get Prime video and I can get access my Yellowstone through there and some other things and that's probably good enough maybe I'll turn off. [21:55] I don't know there's this design of these things now so in any case Wall Street was really pleased with this because there's been a lot of talk at Windows Amazon hit Prime saturation, well you don't hit saturation if you have an acceleration of growth like that so so that was you know a couple the positives in the quarter there but interesting enough and you probably know the ads part I think it had yet another Blockbuster business because they're they continue to benefit from that first party you know all this, effectively the biggest retail media Network out there and I know you think a lot about these retail media networks but that was a gift from our friends at Apple to Amazon so that continues to be the gift that keeps on giving. Jason: [22:37] Yeah yeah it the rate of growth did slow ride so they were in the like 30s and forty percent a year that it was growing and I want to say it only grew, 20% in Q4 your over here which again faster than AWS and still quite fast but for 12 months that means they sold thirty two point seven billion dollars worth of ads and if you assume, that ads are about 75 percent gross margin that means that the ad business contributed 25 billion dollars in earned income, um and ews last year contributed 22 billion dollars in earned income so, you're you know you basically end up with. Retail media networks contributing more to the bottom line at Amazon even than a WS which they're both great businesses. Scot: [23:31] You know I think the 75% is aggressive I think I don't understand why it's like almost not a hundred percent. Jason: [23:39] I agree I used to use a higher number and then I saw some like industry guys the. Like felt like there's more overhead in there and there are a lot of salespeople you know which don't don't you know scale model linearly so so in, I kind of fell in line with some other analysts and dropped it down to that 75%. Scot: [23:59] Yep. Jason: [24:03] However you size it like I'm pretty confident it's the most profitable business at Amazon and still like although it's slowing down slightly it's still still certainly growing, so that was interesting one that I haven't got my head around yet and I feel like you used to do this math yourself but I'm working on a couple of different models for what. Total us gmv did for Amazon and it's not completely trivial because we know what the first party sales were we know what the, the the units were but you know you have to make some assumptions to kind of convert those units into a GM V and the and the mix of third party is different than the mix of first party. But there but the reason that's interesting is liked by most models you know it it was not a huge, growth year for gmv for Amazon and so again I don't have a official estimate yet but like let's assume. They grew by 10% the. [25:16] Fees that they charge third-party sellers Drew 14%. Um so that the fees they're being able to get out of the third party Marketplace is almost certainly growing faster. Then the third party Marketplace and that's because they're able to raise a bunch of rates and our friends at Marketplace pulse did some math and they feel that on average the average 3rd party seller on Amazon when you add up all the selling cost between F ba and and advertising that the average take rate is now 50%. [25:55] So Well I always remind I mean Amazon is a good place to sell like I'm not saying anyone that they shouldn't use Amazon as part of their mix but I get asked all the time if I should just skip it, any other channel in just exclusively rely on Amazon and to me that's a huge mistake because Amazons. Rightly so going to optimize the profit for them and they're very good at that and so they're you know they're taking a lot of margin out of third party selling because there's a long line of people waiting behind every 3rd party seller that want to sell that same stuff. Scot: [26:27] Yeah you going to have a blended approach and kind of Leverage it to sell the right thing at the right time in the right Channel someone should start a company that does that but we'll talk about that another podcast. [26:42] He's busy car washing right now cool that's the Amazon report anything any other earnings you found in arson. Jason: [26:51] Yeah so Amazon reported pretty early this year I don't know if that was strategic or just have a calendar fell but now we are starting to get all of the more traditional retailers and so I want to say we recording this on Thursday Tuesday Walmart and Home Depot reported tomorrow morning targets going to report so we're starting to get all the the cue for sales data from the big retailers, a bunch of specialty Brands like a lot of the apparel Vans VF and folks have already reported and there is emerging and pretty. Clear picture so maybe before we do the Crip picture I'll just recap Walmart Q4 and I tried to channel my inner Scott because. [27:36] Scot and I are the perfect yin and yang Scott is a you know former public company CEO and Savvy investor and he cares a lot about how these companies perform against expectations and what happens to their, their evaluations and I just care how much stuff they sold all right and so I feel it's funny we both look at like all these earnings through different lenses so through your lens I feel like Walmart was mix I think you'd call it a beat and lower because earnings exceeded analysts expectations they came in at 1.71, per share and the in the analyst Target was 1.51 so that's a pretty good beat Revenue came in and 164 billion for the quarter and the expectation was unearned 59 billion so another good, um but on the bad news I think analysts were hoping for. Guidance of like five or six percent growth for the year and Walmart gave a two to two and a half percent guidance for the year. [28:42] And so basically the story was, we had a solid Q4 and a solid 20 22 but we're expecting things to get more difficult and more lean, in 2023 and they you know overtly said we saw spending slow down in the fourth quarter we saw a shift in the mix that they were consumers were trading down, to lower-cost products they were shifting from wants to needs and in Walmart's mix those needs are a lot less profitable so they're selling more Grocery and less, electronics and toys and home goods and stuff like that, and so the both of the guidance for revenue and especially the guidance for profit at Walmart were where lower and that, to me exactly Echoes a lot of the other earnings we heard like the Peril guys their guidance was awful and they're starting their stocks just Tanked, Home Depot actually had like a really soft Q4 because they said spending slow down at the beginning of Q4 so they cut they missed their. Their earnings expectations for Q4 and they had a little guidance but almost every retailer I've seen report earnings has reported lower than anticipated or has made a lower than hope for guidance, for 2023 so retailers are not super bullish on 2023. [30:05] From a pure sales standpoint it's kind of interesting I try to just to compare apples to apples Walmart's an international company, you know with two big retail Concepts in the US and a bunch of other countries I try to pull out like just Walmart sales in the US, and their same-store sales the three years of the pandemic 20 20 21 and 22 they grew 8.6% 6.4% and 6.6%. Average retail growth is 4.1 percent so they, significantly exceeded the industry average for all three of those years but the industry also did much better for the all three of those years so the industry grew at 7.8 14.4 and 6.9 so, basically Walmart slightly out performed the retail industry and two of the three years and underperformed retailing 2021, but solid growth across all three years and then Walmart is one of the nice retailers that breakout their e-commerce growth separately which. I suspect it's because it's usually pretty robust a lot of other companies have stopped reporting e-commerce and you can. [31:11] Speculate why that is this is they don't report it but Walmart eCommerce growth has been very robust during the pandemic so they grew 69 percent in 2020 11 percent in, 21 and 12 percent in 22 and that is you know their 69% was against an industry growth of 42 percent. And then you know this year they drew 12 percent against a e-commerce industry growth of 7.4 percent so. [31:38] Like pretty good e-commerce growth all the way across on a three-year stack that means Walmart Drew or Walmart Drew 100% over those three years their e-commerce business in the US, the the e-commerce industry grew 81% so Walmart Psych the second largest e-commerce site in the United States and they outperformed, the industry on growth Amazon probably did not outperform the industry like like the the best forecast is Amazon probably Drew 56% over those three years, so Walmart not surprising they're much more than Amazon and e-commerce but they grew much faster than Amazon, eBay ends up being the big loser over the three years they only Group 17 percent so kind of the underperformer and then just for sake of comparison Etsy grew 150 percent over the pandemic Shopify drew two hundred and twenty nine percent. And then this apparel company I talk a lot about, is crazy Chien Drew nine hundred percent during the pandemic and some of their financial data week to last month, and their internal forecast for their us Revenue in 2025 exceeds eBay's forecast for all revenue so that's enough, and apparel retailer that's going to sell more stuff online than all of eBay. Scot: [32:54] Wow that's crazy. Jason: [32:56] Yeah the world changes any of that. Scot: [32:58] Do they have infrastructure in the US like to do shipping and stuffers at all come straight from China. Jason: [33:04] The for Sheehan. I believe that they may have announced that they acquired some some sorting centers or some fulfillment center space in the US but I don't think it's come online yet so I think at the moment it's all being shipped abroad but I'm not certain on that. Scot: [33:21] Wow that's crazy it's a lot of international shipments. Jason: [33:26] Yeah yeah but it sounds like it's moving and then the speculation is you know she in in a lot of markets is a Marketplace and they are not a Marketplace in the US yet but a lot of people are speculating, that they're going to launch a Marketplace this year and especially if you if you think there are bigger overall than eBay. You know they're the biggest apparels reseller in the u.s. online or offline like they're on a on a tear it's pretty interesting and what covered on a different show but like their model about what I think is most interesting about Sheehan is there no Merchants they're literally getting their product ideas from tick-tock. Scot: [34:05] Yeah yeah and having a Marketplace will be good will be another piece of data to feed into this kind of viral Crazy Fast fashion engine that they've created. Jason: [34:15] 100% And it's interesting you know. Scot: [34:18] Third party seller would be scary. Jason: [34:18] Accused of doing that in a in a non-competitive way but and they may or may not be doing that but if they are doing it they're doing it with people like you know Sheehan is doing it with Skynet. Scot: [34:30] Yeah cool any other news on the e-commerce front. Jason: [34:37] Well so those are the big earnings I again there's you know we're going to see a bunch of the other big box retailers report over the next couple weeks so we'll put together a more complete picture of of who the winners and losers were like it's mapping if you look at the US Department of Commerce data and you see the categories that won and lost. By shockingly and I would have gone these predictions wrong at the beginning of the pandemic but you know what category like was about the best specialty category to be in over the last three years it was Sporting Goods. Scot: [35:05] Sporting Goods. Jason: [35:07] Yeah which I would not have thought right and Dix's you know had a like Dick's Sporting Goods has had a particularly good run and in fact they bought Moose Jaw from from Walmart today. The and the worst category to be in in the last three years by far is consumer electronics and so, spoiler alert Best Buy hasn't reported this quarter yet but all indications are that it's not going to be a Rosie. Quarter for Best Buy. Scot: [35:38] You know saw Home Depot had theater announcer pre-warned that things were getting kind of soft and so they've had a tremendous run since 2020 said some point people had to run out of money for upgrading their houses looks like we may be at a Tipping Point there too. Jason: [35:53] Yeah and I would categorize them as kind of one of these middle ones they had a phenomenal first half of the pandemic and now it appears to be slowing down and I you know some of the furniture guys are in that same boat and so that the you know it'll be interesting to see where they net out over the three years like I think they're going to net out to have done better than average but not but not amazingly right and in the middle of the pandemic we were all saying like oh man these are. You know Home Depot might be the biggest winner of the pandemic because everybody redid their backyard. So the that's all the earnings stuff I had the other like kind of pool of interesting news that I'm going to ask a lot about right now all centers around social commerce and what's interesting is, there's like news and diametrically different directions so Tik-Tok which, it's not the biggest social network but it's certainly the fastest growing social network and it's it's you know it has prodigious engagement at this point Tick-Tock launched they've had some native shopping before but they launched a native shops feature and it I would characterize it as the most robust. [37:09] Feature set for shopping on a social platform that I've seen yet so stores can have their own shop they can aggregate their own catalog and it's everything is not just a buy now which is normally how social networks do it they have a persistent cart and you you can add multiple items to a cart um you can change all the attributes of those items which is often a problem with other native checkouts you can get a delivery forecast you get tax calculate promo code you get all these things that like historically social networks Skip and then a feature I would have never expected, it's a multi-vendor universal cart so you can actually buy from multiple Tik-Tok shops, in a single transaction and they take PayPal and Apple pay so I would characterize that as a surprisingly robust, native feature to get people buying on tick-tock, and so if you just saw that news you'd say oh that's the future is you know people are discovering stuff on Tik-Tok instead of in the Shelf in the aisle at a store and now they're just going to buy it right on Tick-Tock but in the the same month, our friends at meta turned off their shopping tab on both Facebook and Instagram and said, hey we tried it and we don't we don't think that's how people want to shop and then I guess one other. [38:37] Selfish piece of. Of content in this whole genre a lot of the hype in the u.s. when I get clients asking me about like the Buzzy thing in social commerce it's a live streaming Commerce then there now 100 live streaming vendors I get pitches every single day from someone that like has reinvented shopping and it's all this wise Freeman Commerce which is huge in China but has not. [39:04] Taking off in the US and so I got tired of repeating my same concerns so I wrote a Forbes article that got pretty popular you know talking about how I felt like live streaming Commerce in particular. Was wildly overhyped and it got a lot of them reactions some people violently disagree most of those were live streaming vendors and a lot of, lives a lot of veterans in the space including like brands that sell abroad we're live streaming is big and in the u.s. like chimed in and said yeah what Jason saying is exactly what we're seeing. And what it boils down to is there's there some genres we're live-streaming makes a lot of sense and I think some of those are genres you shop in a lot like Collectibles and unique items and things like that but like if there's not huge product scarcity, the other main reason people shop in livestreams is for deep discounts and so like you can almost replace the word live stream with flash sale. Um for kind of a similar kind of reach like all of this live stream in Commerce in China is and it's 40% off for the next 20 minutes. And so you know that those that kind of extreme deal-making like hasn't, you know how to legs in the US and so it's not surprising that live-streaming hasn't taken off to the same level but I'd be curious our view. [40:31] Like so when I could talk to clients it's an open question right now like what's the future of social commerce is it important is it not important and that is important like is it going to happen on, the social platforms like Tik-Tok their native check out like does Target need to have their own Tick-Tock shop or. Is social a great tool for Discovery and there's lots of ways to connect that that social discovery with traditional e-commerce experiences and you know I. I don't think there's a clear answer yet in the US but it's a super interesting question. Scot: [41:14] Then that's where it would be driven from like if the Kardashians you know had had some kind of a platform of some kind. They have a big enough audience they could direct that audience to the platform and do things it just doesn't really exist in an integrated fashion right you're in you can't really do it on Instagram because you don't have the check out and it just hasn't come together. Amazon can't do it it's like kind of complicated to bring the influence over there and they may not have liked the right thing the influencer wants to sell. Jason: [41:46] Yeah and I do think it is a different story if you're if you're a mega influencer that has a huge audience and you have a relatively limited catalog right so Kylie Jenner is a perfect example like, I think she could do a lot of business on Instagram and Tik-Tok but like that's a wildly different problem than a wholesaler that has. 5 million 10 million 80 million skus in their catalog and what they should be doing on on social networks. Scot: [42:17] I think it can work for it works for Collectibles because you have this kind of like high Affinity audience it works for beauty and apparel and I think that's kind of it. Jason: [42:26] Yeah what I guess and you know. Fair enough for retailers to have broad Ambitions but if you look at China a lot of this like social commerce and e-commerce like a bunch of it happens on social networks like Dao Yuan which is Tick-Tock there and WeChat which. I guess Loosely similar to Twitter. But a lot of it does happen on platforms owned by the retailer right so towel live which is you know essentially a site owned by by you know the the Amazon of China. Is a big social platform where a lot of people go just to watch short-form videos and buy a lot of stuff. Um and so you know of course if you're a retailer that's what you'd want like you don't want to be disintermediated by the social platform and have to pay a fee and not know who the customer is you you want the customer to come to you. But it. [43:23] It seems like recreating that model in the US would be super hard and the I would argue the retailer that stride the hardest to do it is Amazon and Amazon has all the features like they they have a. They had Amazon live for a while now they have Amazon Inspire and they have a lot of influencers creating unique short form video content with shoppable ads in it. On the Amazon platform but I would say the early indications are that. It's not organically working like you know it's not drying a bunch of people that just want to Doom stroll on Amazon instead of tick-tock and creators aren't going there because they're making a bunch of money, in the normal economic model what what it seems like is happening is Amazon is paying like extra bounties to get creators to try the platform. And they the Creator goes to that platform as long as that Bounty exist but as soon as that Bounty expires and they fall into the normal economic model the Creator's returning to tick tock because they can make more money on Tick Tock than they can on on inspire. Scot: [44:25] Yeah the whatnot platform is pretty fascinating because it has like yes it's got a persistent store on one side of the screen and then you're watching the talent and then you know they can do they can sell things like a variety of different ways that can run an auction they can they can do a limited almost like a QVC I've got 10 of these and when they're gone they're gone and on the screen it does a countdown they can do a. Did you like a markdown I think you would probably call it a filene's basement kind of thing you know that wear it the longer it's there the more discount there is so it's kind of counterintuitive lie you're kind of like. You're kind of like waiting waiting and then you see it. Jumping yet game a discount chicken and then you know it's really fascinating how they you know they give the the. Seller who is largely you know an influencer of so many tools to sell and they're all integrated so once you have your your payment information in there you know you get really sucked into the game and I think that's really what it's going to take like that's what you're missing on you know any of these Tick-Tock may have it I haven't seen their platform but you know certainly Instagram or Facebook reels or YouTube they don't have that level of integration even the Amazon stuff I've seen has been kind of. Not super Innovative from is like a Lincoln you know feels affiliate e it's not like an integrated into the video thing. Jason: [45:55] Yeah no I hundred percent agree I think some of those knit your experiences are a lot more interesting at the moment than any of the super mainstream ones but what not is certainly interesting to look at I do think like Network without any vowels in it is like interesting, flavor of live shopping which seems like it works in some genres so yeah I think some of those the sites are interesting one thing I would point out about all of those is, their definition of influencer is maybe a little different than like the traditional like when we say influencer I think a lot of people think of Mega influencers right in the think of these. These superstars with millions of followers but. Like on most of those these platforms that the influencer is someone with a much smaller following so it's much more of a long tail influencer or a micro influencer. Scot: [46:46] Cool. Jason: [46:49] Yeah so I feel like this is going to be an interesting space to follow throughout all of 2023 but I do think. It's going to be an interesting year in retail and 2023 because I think a lot of retailers are worried at least at the first half is not going to be robust and so you're seeing a lot of shift in investment on retailers from. Kind of like you know mega growth and customer acquisition activities to like. Operational efficiencies and improve our our profit and our short-term returns type activities. Scot: [47:23] Yeah in the I guess used to continue to get pictures from the live stream guys are they on to you now. Jason: [47:30] Yeah no so again you know you can totally pan them on in an article and you know the internet has a short memory so I still get. Get lots of pictures and you know. One of them will be amazing right so it's hard like you want to listen to all these pictures because someone will there's some entrepreneur out there that will have some amazing new idea and odds are like all get jaded and cynical and ignore him and miss it. But the signal noise ratio is pretty tough because you you will have to list you know listen to a lot of like you know poorly articulated pitches to get to that one good one. Sure I'm sure you get that from an investment perspective all the time. Scot: [48:10] I do yeah it's it's hard to pick the if I've learned anything it's very humbling trying to pick winners and losers so I have given up on them. Everyone's a winner everyone gets a trophy Jason. Jason: [48:25] I love it participation that's the modern. Scot: [48:26] Yeah yeah. Jason: [48:38] And I feel like it's both overhyped and legitimate at the same time is all this generative Ai and its use cases, in Commerce right you know so obviously the most Buzzy one of the moment is chat gbt but GPT Beth. There's actually a lot of super interesting tools that are that retailers are starting to legitimately used to get more operationally efficient and I think that might be an interesting topic for a deep dive of Europe for. Scot: [49:10] Yeah yeah guilty pleasure confession I am addicted to mid-journey I love playing with the generative visual a is that there are a lot of fun. Jason: [49:20] Yeah I think they are super interesting and I will tease the Deep dive. So the interesting thing about the she and apparel model is they identify a trend and they have a fast turn Factory that can make literally like a first run of that apparel item in a day. So a day after they see a trend on Tick Tock they've got 100 up for sale and if those hundreds L then they make 10,000 right and so it's this like super fast iteration. You know you're not trying to show for she and because there's a lot of challenges with the model to but that I have heard that she and launches about 10,000 skus a day. So a day to put that in perspective fast fashion like H&M launched 20,000 skews a year and slow fashion like the Gap launch for thousands of years a year so 10,000 a day is. Is game changing but it's super hard to do and so. You know what super interesting about the generative AI for images is. If you're really just doing a one-day test to see if there's demand for some new apparel like. You can generate amazing images of apparel Styles without making the apparel you can put it up on an e-commerce site you can collect a pre-order and then you can make it tomorrow if it gets the enough demand. [50:43] And so you're starting to see people like skip the photography all together and use generative AI to do concept testing and for sure if you're on a parasite in your shopping for. An outfit that's coming from multiple vendors you can use the generative image AI image generation. Render all three of those apparel items from different providers on the same mannequin or increasingly, on a virtual Avatar of the Shopper right so it Walmart you can see all that apparel like on your own body which no apparel looks better on my body than it does on the mannequin so in my case it doesn't work but. I can see the appeal for others. Scot: [51:25] Yeah it's a good inventory turns to not make something and then sell it. Jason: [51:30] Yes exactly it's like moving One Step close yeah so, and in the apparel where they make a lot of that clothes and can never sell it and then it goes into the landfill like you know it helps with the Ecology of the industry so so super interesting stuff the progress is happening super fast so it's exciting, but Scott that's probably a good place to leave it for today because once again we've used up our allotted time as always if this show is helpful we sure would love it if you jump on iTunes and give us that five star review and you know get ready to say hi to me at a couple of these upcoming shows. [52:18] Happy Commercing.

In this episode of the RETHINK Retail Podcast, host Gabriella Bock sits down with Stacy All, vice president of product design at Wish.com. Stacy All has more than 20 years of experience in consumer-centered design and experience, and she has led initiatives at NEC, Yahoo, and Walmart eCommerce. With a proven reputation for cultivating enjoyable experiences in the e-commerce space, Stacy joined Wish in June of 2022 as VP of Product design. Shortly after Stacy joined Wish, the company launched its first rebrand since its founding in 2010, introducing a new bold and playful aesthetic, new logo, and mission statement, “Bargains made fun, discovery made easy." Listen in as we explore the role of discovery retail, product design, shoppable videos, and keeping up with trend cycles. - - - - - - Host: Gabriella Bock Produced by Gabriella Bock Research by Maggie Schwenn

Carina Cortez is the Chief People Officer at Glassdoor. Built on the foundation of increasing workplace transparency, Glassdoor offers insights into the employee experience powered by millions of company ratings and reviews, CEO approval ratings, salary reports, and more – all by the employees themselves. Carina is passionate about building the future of work and helping people find meaning in their work at a time when this is critical to every business. In this episode, she shares what she had to unlearn from her 20-plus-year history in HR during her first year at Glassdoor and how the company is leading with purpose, building a culture of transparency, and empowering organizations to rebuild their cultures to drive growth, productivity and impact. Carina Cortez Carina Cortez is the Chief People Officer at Glassdoor. Thousands of employers across all industries and sizes turn to Glassdoor to help them recruit and hire quality candidates at scale who stay longer. Cortez had 20 years of experience in HR before joining Glassdoor. She has formerly worked in recruiting and people operations across a diverse set of companies, including Ellie Mae, Walmart eCommerce, PayPal, and Visa. As Chief People Officer, she leads the company's people functions, including strategic human resources, talent acquisition, total rewards, culture management, employee relations, learning and development, diversity, inclusion and belonging, and more. Resources: Learn more about Glassdoor Connect with Carina on LinkedIn Visit leadwithwe.com to learn more about Simon's new book or search for "Lead With We" on Amazon, Google Books, or Barnes & Noble. The Lead With We podcast is produced by Goal17Media.

With a career featuring time leading product at Sears, Walmart eCommerce, and Sephora, Sneha Narahalli knows how to effectively lead product teams. Check out this episode of Product Chats to hear Sneha's advice for effectively leading your team in a way that builds trust, celebrates progress, and leverages members' strengths. Time Stamped Show NotesThe fundamental nature of product management [03:40]Avoiding boxing yourself into solution-based thinking [05:14]Building trust through communication [07:45]Ensuring your work is measurable [09:13]Celebrating progress and not success [10:48]*Introvertism and leadership [13:12]Identifying your teams' individual strengths [17:20]Taking time to understand who you're speaking to [21:03]Focusing on your strengths [22:07]Understanding yourself before you understand your customers [23:45]  Product Chats is brought to you by Canny. Over 1,000 teams trust Canny to help them build better products. Capture, organize, and analyze product feedback in one place to inform your product decisions.Get your free Canny account today. Stay Connected!TwitterFacebookLinkedIn

Zora Chung joins the conversation on "Making Waves at C-Level" to talk about growing a business, Angel Funding, and business success. ReJoule is a start up that does fast testing for eclectic vehicle batteries.   About Zora Chung Zora Chung is the cofounder and CFO at ReJoule, a battery diagnostics and optimization company focused on maximizing the value of every battery. ReJoule has graded over 1MWh of used electric vehicle (EV) batteries as part of their project to repurpose used EV into a stationary application. This project is funded by the California Energy Commission where Zora has blogged to document their learnings, progress, and obstacles. ReJoule's work has been featured by Wired, Frost & Sullivan, and across a few podcasts and conferences. Before founding ReJoule in 2017, Zora has spent over 12 years in corporate finance at Clorox and Walmart eCommerce. She's created long-range strategic and financial plans, negotiated contracts, and evaluated new and existing business models and optimized them for scalable growth. She holds a B.S in Business Administration from UC Berkeley's Haas School of Business.  About ReJoule ReJoule is setting the standard for battery health diagnostics to improve the economics of electric vehicles (EV) batteries across its life cycle. Current health predictions only get worse as the batteries age and other ways to test the batteries can take hours. ReJoule's fast and non-invasive diagnostic has already tested forklift, truck and bus batteries. It was proven to be at least 50x faster (5 min or less vs. 6-10 hours) than current testing methods without sacrificing accuracy. They've raised over $5M in non-dilutive grants and in 2022 got their first few paid customers - one is a top 10 automaker seeking to repurpose their used EV batteries in a second-life application. The ultimate goal is to get ReJoule's technology into production vehicles and at service centers around the world. The founding team is a brother-sister duo balanced between an innovative technical cofounder who has built all the IP in-house and an experienced finance and business strategist. https://thomsinger.com/podcast/rejoule Learn more about your ad choices. Visit megaphone.fm/adchoices

IN THIS EPISODE, WE COVER: [2:30] – Intro to Conor [13:34] – Voicing your internal drivers [17:47] – Location strategy [21:57] – Working models [26:44] – Finding the balance in work [30:11] – Leveraging your skills [33:29] – The future of people leaders MORE ON CONOR:Conor Sweeney is Senior Director, Global Head of People Programs at Volta Charging (VLTA). In this role, he sits on the People Leadership Team and oversees the team dedicated to delivering the companies People Programs strategy and roadmap which includes building and managing critical infrastructure connected to performance management, leadership development and employee engagement. Prior to joining Volta, Conor was Principal, Chief of Staff, and Head of Business Operations for the Global Finance and Operations organization at Box, Inc. (BOX) where he directed organizational health & performance, business operations, executive communications and strategic program management across a 400+ person global G&A organization. Sweeney also served in a variety of business operations and corporate communications leadership roles at Hewlett Packard Enterprise and Walmart eCommerce. He holds a B.S. in Business Administration with a concentration in Marketing and happily resides in the San Francisco Bay Area with his wife.Drop Conor a line on LinkedIn here: https://www.linkedin.com/in/conorsweeney207/ he'd love to hear from you!MORE ON RAMPED: Check us out at www.rampedcareers.com Interested in becoming a Ramped Professional? Sign up here: https://rampedcareers.com/candidate-form/ Interested in becoming a Ramped Corporate Partner? Email us at sales@rampedcareers.com

#26 | Vianna and I talk about the science behind fashion and sustainability! Vianna is a NYC-based fashion blogger who has a passion for the intersection of science and style. She graduated from Cornell University with a Bachelor's of Science in Fiber Science. Outside of running her sustainability blog, she is Strategic Account Manager at Walmart eCommerce. We talk about the science and construction behind the quality of fabrics that we wear, the importance and creation of sustainable clothing, and logistics of running a side-hustle blog. • Vianna's Website: https://styledbyscience.com/ • Vianna's Instagram: https://www.instagram.com/styledbyscience/ • Vianna's LinkedIn: https://www.linkedin.com/in/viannachan/ • Leave a review on Apple Podcasts: https://podcasts.apple.com/us/podcast/multipassionaire-podcast/id1515981004 • Stay connected! Follow our Instagram: @multipassionaire https://www.instagram.com/multipassionaire • New episodes on Monday!

Battery energy storage is getting a great deal of press because of the way it is revolutionizing transportation and vehicle electrification as well as how it enables higher penetration of non-dispatchable renewable energy generation, both in front of and behind the meter. But questions about battery end of life plague the technology. Are batteries recyclable? What happens to batteries whose performance is no longer sufficient for the rigors of electric vehicles? Could EV batteries have a second life in a stationary application?   In order to answer these questions, we need to be able to assess the health of batteries. Zora Chung is doing exactly that with ReJoule -- greatly expanding and standardizing battery state of health measurements to give batteries a second life and create a circular economy for batteries. As a data scientist, I believe that knowledge is power, and more data allows us to make better decisions for consumers and for the planet. Episode 1.04: On EV Infrastructure and Green Workforce Development with Kameale Terry is referenced often. Quotables “We need to open up that black box [on measuring battery life] and understand it. One way we need to do that is through standards. If everybody is speaking a different language, opening that black box is more like a Pandora's box.”   "People think in binaries, that either it works or it doesn't work. But how do you define what works?" “Everybody has a role they can play... you can have an impact. As long as you get started, your impact will start to grow.”All quotes above by Zora ChungThis week's guestZora is the cofounder and CFO at ReJoule, a battery diagnostics and optimization startup with a mission to reduce battery waste and enable the circular economy for batteries. Before founding ReJoule in 2017, she spent 13 years in corporate finance at Clorox and Walmart eCommerce. She's created long-range strategic and financial plans, negotiated contracts, and evaluated new and existing business models and optimized them for scalable growth. At ReJoule, she manages "all things non-technical" and has helped ReJoule secure almost $5M in non-dilutive grants. Their biggest grant is a $3M project funded by the California Energy Commission to repurpose used electric vehicle batteries in a second-life application. Resources:Connect with ReJoule on LinkedIn, Instagram, Facebook, and Twitter.Check out ReJoule's website and watch this micro documentary on ReJoule. If you enjoyed the conversation, please leave us a positive review and subscribe to Power Flow on Apple podcasts, Spotify, or wherever you listen to podcasts.You can follow Power Flow Podcast on LinkedIn, Instagram, Twitter, Facebook, and Tik Tok. Thank you for listening. See you at the whiteboard!

After crafting the perfect resume, one must experience another portion of the job search- the interview! Listen as Kristy M. Valladares, Learning Operations Manager of Walmart eCommerce and volunteer of the DeSales Career Development Center speaks about one of the career readiness competencies, communication! Kristy shares her experience as both an interviewer and interviewee and gives helpful tips to make the best impression possible! Have a topic you'd like us to address on a Career Chat episode? Email us at career@desales.edu

In this episode, Eric shares the coolest, cleanest, chicest humidifier to date. Daniel and I have one in our bedroom that we use every single day. Canopy is clean moisture with no mist, anti-mold, nightstand friendly (small + cute), and so easy to clean. To purchase your canopy humidifier please consider using this affiliate link. Check them out on Instagram too! Eric is a skincare buff who has spent his career in marketing and business development for emerging beauty and wellness brands. Eric got his start in beauty working for cult favorite brand Lipstick Queen, driving partnerships with iconic retailers such as Barneys and QVC. In 2011, he joined Birchbox as the eighth employee and spent the next seven years building the merchandising function and developing partnerships with hundreds of brands across skincare, color, haircare, and fragrance. In 2018, Eric joined the digital brand incubator under Walmart eCommerce and launched Glow Habit (a beauty and wellness brand) on Walmart.com and in Walmart stores across the US. Most recently, he joined the founding team of Canopy where he serves as CMO, overseeing the brand's positioning and growth across the direct to consumer channel and with retail partners. Advertising Inquiries: https://redcircle.com/brands

In this interview with Yannis Pavlidis, Senior Director of Data Science at Walmart eCommerce, we discuss what it takes to be a great engineering leader, differences between engineering and data science, psychological safety, and hiring and conducting interviews during the pandemic. The post Interview with Yannis Pavlidis, Senior Director of Data Science at Walmart eCommerce appeared first on Managers Club.

Miguel Gómez es product manager en Walmart eCommerce. Empezó su carrera en consultoría en McKisney & Co, donde descubrió la amplitud y posibilidades del valor que los negocios crean para la sociedad, sobre todo aprovechando la tecnología de información. Fue así que sus siguientes pasos de carrera fueron en ecommerce en Best Day y mobile messaging app Line. Luego de su MBA en Darden, convencido más que nunca del poder de la tecnología para cambiar el mundo, continúa su carrera como product manager en ecommerce con Walmart, donde define y ejecuta la estrategia de personalización y navegación. Laura eRRe es consultora de negocios de moda y estratega digital. Diseñó la metodología de las 10P de tu Ruta Digital y su visión es revolucionar la industria de la moda a través de compartir conocimiento y generar alianzas. Los Brunch and Dinners Online son entrevistas en donde encontrarás consejos de expertos y casos de éxito en temas de e-commerce, negocios y moda. ¡No te puedes perder nuestro próximo congreso Fashion Digital Talks 2021! El congreso #1 en México sobre e-Commerce, Negocios y Moda. Para obtener más información visita nuestro sitio web: www.fashiondigitaltalks.com

Catharine Dockery is a founding partner at Vice Ventures, a seed-stage venture capital fund conquering stigmas and striving towards superior returns by investing in good companies operating in "bad" industries. Today's episode is special as I go back to my interview with Catharine on The Consumer VC Summit. [00:01 – 09:53] Catharine's Story[09:54 – 19:10] How High Can It Grow? The Story of Vice Ventures[19:11 – 27:18] Evaluating and Partnering with The Right Brands[27:18 – 32:29] The Products in Vice Ventures Portfolio and The Importance of Brand Development[32:30 – 36:33] Vice Venture's Role and Advocacy in Helping Legitimize Cannabis[36:34 – 44:05] Audience's Questions for Catharine[44:06 – 47:23] Final ThoughtsCatharine Dockery is the founder of Vice Ventures. She has a long-held passion for vice investing, on both a personal and professional basis. While interviewing with traditional consumer venture firms, she continually brushed against vice clauses in her investment pitches, with that frustration culminating in the idea for Vice Ventures.Prior to launching the fund, Catharine was an early member of the digitally native vertical brands M&A team at Walmart eCommerce. She took this position after managing a prominent founder’s personal venture investments and acting as his personal Chief of Staff. Before this, Catharine was an Analyst on a high yield trading desk.Shayda Torabi has been called one of the most influential Women in WordPress and now she’s one of the women leading the cannabis reformation conversation building one of Texas’ premier CBD brands. She’s currently the CEO and Co-Founder of RESTART CBD, a female-run education first CBD wellness brand. And has formerly held marketing positions at WP Engine and WebDevStudios. Shayda is the host of a podcast for cannabis marketers called To Be Blunt, where she interviews top cannabis brands on their most successful marketing initiatives. When Shayda’s not building her cannabiz in Texas, you can find her on the road exploring the best hikes and spots for vegan ice cream. Follow Shayda at @withshayda.Tweetable Quotes:"When it comes to venture funding, that means the pros are that you have more capital to scale your business faster, right. And who doesn't want to do that?" – Catharine Dockery"As a country, we have so much work to do." – Catharine DockeryResources Mentioned:Catharine’s blogThe SourceRecessWana BrandsSPONSORSHIP is brought to you by Restart CBD. Check them out for your CBD needs!LEAVE A REVIEW + help someone who wants to join me for episodes featuring some serious cannabis industry by sharing this episode or click here to listen to our previous episodes. You can listen to my podcast on Spotify, Stitcher, Buzzsprout,

Today’s episode is another edition of Coffee & Commerce, the hit show where we break down the best strategies taking place in eCommerce today. This edition co-hosted by Zubin Mowlavi and features the CEO of Walmart eCommerce, Marc Lore. We talk heavily about loving the latest trends in consumer marketing as well a the mindset you’ll need to play the long game in business. Enjoy! Let me know what you thought. Follow Marc Lore Twitter: https://twitter.com/marcericlore LinkedIn: https://www.linkedin.com/in/marclore/ Tweet Me! @garyvee Text Me! 212-931-5731 My Newsletter: garyvee.com/newsletter

En este episodio Omar nos cuenta cómo ha sido su trayectoria profesional y cómo dio sus primeros pasos en la industria de Ecommerce. Además, comparte cómo se ha preparado para ser mejor día con día y lo que más lo hace sentir más orgulloso de su trabajo.

Founder of both Diapers.com and Jet.com, and now CEO of Walmart eCommerce, Marc Lore has had a success streak that is astonishing by any standard. Fortunately for everyone else, he is more than happy to share the habits, mindset and traits that have allowed him to become so accomplished. On this episode of Impact Theory with Tom Bilyeu, serial entrepreneur and multi-billionaire Marc Lore explains how to raise capital when you are just starting out, how to hire and lead employees, and how to make progress towards your goals no matter what you are right now. This episode is brought to you by:  Butcher Box: Go to ButcherBox.com/IMPACT to reserve your spot on their waitlist. You’ll get an email when they’re ready to take your order. Better Help: Get 10% off your first month at https://betterhelp.com/impacttheory Audible: Get 1 credit to pick any title and 2 Audible Originals from a monthly selection. Visit audible.com/impact or text IMPACT to 500-500 SHOW NOTES:   Marc credits his attitude of “billions or body bags” with his success [2:26] Tom and Marc discuss having your back against the wall and being aggressive [5:16] Marc hires self-motivated people and then makes sure he doesn’t micromanage them [7:55] Marc looks for traits instead of experience for start-up companies [8:58] Never ask a question in an interview that someone could have prepared for [10:52] People who went to really good schools have a hard time taking risk [14:15] Marc shares the story of applying to a business school he had almost no chance at [15:48] Marc never accepts that something is impossible unless it literally has a 0% probability [18:48] Marc believes that you are born and raised with some traits, but most can be developed [20:19] Marc focuses on caring, kindness and empathy when raising his kids [22:27] When Marc was a kid he was quite entrepreneurial, and got into stocks at 10 years old [23:26] Marc talks about why his first investors were willing to take a risk on him [26:21] Tom and Marc discuss how to help someone build desire [27:48] Marc explains how he deals with doubters [31:04] Great execution is better than great ideas [33:35] The way to deal with failure is not to dwell on it, but be objective about progress [35:49] People want to be understood, and empathy is the most important leadership quality [37:23] Entrepreneurs should be thinking about vision, capital and people over 80% of the time [39:18] For core values to be core, there have to be 3 or less [41:29] Marc shows how he raised money in the beginning [43:18] Marc shares the impact he wants to have on the world [46:23]   QUOTES:   “I’m not gonna accept that it can’t be done unless somebody proves that it’s a zero probability...And it’s typically the stuff that’s really close to zero--nobody else is touching--that’s where the big opportunities are.”  [18:50] “Every time somebody says something can’t be done, there’s also a part of me that gets a little bit excited.” [32:13] “Today’s today. What’s the biggest step you can take today, towards your vision? How do you make the most progress towards the vision, today?” [35:10]   FOLLOW:   TWITTER: https://bit.ly/2PJmaXU 

Host Dwayne Samuels chats with Nick Sinai, who is a Product Manager at Walmart eCommerce. Nick speaks about how he got into Product Management, what he loves about his role and how he overcomes issues he faces in the industry.

In our latest podcast from eTail West, sponsored by Sezzle and Stylitics, Chris Walton and Anne Mezzenga sit down with Eoin Comerford, CEO of Moosejaw and GM Outdoor at Walmart eCommerce, to discuss his nearly 20 years of omnichannel expertise from the standpoint of a brand heavy into e-commerce, his unique approach to branding, and, yes, even his favorite liquid!

In honor of Cyber Monday, we wanted to focus on the eCommerce market for this week's EDGE of the Web show! When you want to sell your products through Amazon and Walmart, you’ve got to get a handle on the right advertising techniques and tactics. In today’s highly competitive eCommerce markets, you can’t ignore Amazon as a channel for selling your products, and who better to talk to about strategies and tactics than someone from a company that knows more about the Amazon Marketplace platform than anyone else? We have Elizeabeth Marsten from Tinuiti, which was one of the first digital marketing agencies to roll out strategic and tactical programs to help the seller make the most of participating in the Amazon Marketplace. If you’re involved in selling through Amazon, you’ll love hearing from this week's featured guest, Elizabeth Marsten, Senior Director of Strategic Marketplace Services at Tinuiti!

On episode 20, Brian interviews Carlos Cody an Area Manager with Walmart eCommerce and an influencer on LinkedIn. Carlos shares his experiences with Servant Leadership, using DISC Personality Profiles to get team members within their peak performance strengths. Carlos also keeps encouraging and supporting those within his leadership influence to grow and develop both in his professional circle and personal circle. You can find Carlos on LinkedIn by searching Carlos Cody. Thanks for listening, please subscribe, give us an honest rating and review, then share with others. If you want to speak with Brian or recommend a guest for the podcast please email brianb@buildcs.net

Maxanne Whitehead answers the question all enterprises have on their mind, whether they say it out loud or not. Is training worth it? It can be difficult to get full buy-in on training across all verticals of an organization. Training takes time away from other tasks. It costs money. That’s why Whitehead stresses the power of communication. By creating, tracking, and sharing training metrics, there is proof to show that training is not only worth it, but imperative to the success of any enterprise. Whitehead closes by sharing how and why Walmart practices what she preaches.

Walmart Labs launched an HR experiment that lead to being more inclusive and getting a leg up in the war for talent. In this episode of the HR Exchange Podcast, host Mason Stevenson sits down with Julia Keintz, the Director of Insights and Analytics for Walmart eCommerce and Walmart Labs. During the discussion, Keintz explains how they put women with tech skills back to work.

EP175 - Hudson Yards and retail earning news  Review of Hudson Yards mixed used shopping development in NYC (thye don’t like to call it a mall). Upcoming Shows: Code 6/10 RetailX  6/25 NRF NXT 7/22 Etail East 8/19 Grocery Shop 9/15 Walmart, Macy’s, Kohls earning reports. Direct to Consumer Valuations (Harry’s, Away, and more) Don’t forget to like our facebook page, and if you enjoyed this episode please write us a review on itunes. Episode 175 of the Jason & Scot show was recorded on Tuesday, May 21st, 2019. http://jasonandscot.com Join your hosts Jason “Retailgeek” Goldberg, Chief Commerce Strategy Officer at Publicis, and Scot Wingo, CEO of GetSpiffy and Founder and Executive Chairman of Channel Advisor as they discuss the latest news and trends in the world of e-commerce and digital shopper marketing. Transcript Jason: [0:24] Welcome to the Jason and Scott show this is episode 175 being recorded on Tuesday May 21st 2019 I’m your host Jason retailgeek Goldberg and as usual I’m here with your co-host Scot Wingo. Scot: [0:39] Hey Jason welcome back Jason Scott show listeners. Jason this is one of those rare occurrences which I think is actually not rare this year that we are in the same city so I am up in Chicago you and I just gave an amazing talk to Retail Group about innovation. I’m Wichita that do a deep dive sometime I think I would drop some serious knowledge of their want to thank them for having us up and then we were able to lay down a podcast since I’m up here. Jason: [1:06] Yeah I feel like it’s super distracting to actually get to look at you while I’m talking to you usually it’s just the the picture that I have hanging in front of my desk. Scot: [1:14] Yeah your hair is amazing today I think we referenced in the taco or that you had a Brazilian blowout so it’s looking good. Jason: [1:21] Yeah I’m not going there but I’m glad it worked for you. Scot: [1:23] It’s also chilly here in Chicago I was in nice 90 degree weather down in North Carolina and flu up in my shorts I made that Strategic Air and it’s like 52 and rainy here in Chicago. Jason: [1:35] Exactly but I I would like the record to show that I’m still not ashamed of you because I have brought you to my office in your goofy shorts and Jack. Scot: [1:47] Yeah the other thing I’ve learned is when your Chief Commerce retail strategy digital officer you get Swanky Office Space. Jason: [1:55] Yeah I don’t know I don’t know about that they just don’t know that I’m here so that’s like until they discover me I’m going to. Scot: [2:01] It’s like we work but in Wedding Crashers all together. Jason: [2:05] Exactly exactly show us to talk about this week Scott. Scot: [2:10] Yeah we have some trip reports of you and I have both been to New York recently and went to the Hudson yard new set up there which was pretty cool how did you get to walk around the structure there called I caught the structure I think they’re going to rename it it’s the vessel did you get to walk around and. Jason: [2:32] I did and this is going to be a big problem for me if the new attraction in all malls is hundred and fifty-four staircase structures I’m in a lot of trouble I might have to change my my field because my fitness level is not appropriate for climbing. Scot: [2:47] Yep sadly when we went the line was like 45 minutes to get into the vessel so we pass on the vessel but I did get to go into the I don’t know we’re supposed to call I know they are violently against calling it a mall so we went. Jason: [3:02] Next you shopping space. Scot: [3:04] Yeah I went into the mixed-use shopping space that was good so they have a beta store they’re obviously that you’re on the show, first answer my family down there they really enjoyed the show and then I went with my younger daughter and they had this whole thing called a smart Park, news this whole combination. Art installation space and kind of amusement area, I’m in when we went there they had this really interesting kind of amazed so there’s imagine these sheets hanging from the wall in about a 3000 square foot area you navigate through these things and you kind of confined a lot of little interesting. Art displays inside of there and then there’s a fun mirrored area we can watch everyone kind of getting lost inside of the maze that we enjoyed that. Jason: [3:51] And is it purely to experience or is it also one of these places it set up to take like unique Instagram photos and. Scot: [3:59] There was some of that yes so some of the art installation she likes it in so imagine a column that’s hollowed-out with a seed in it and then a mirror kind of a disco ball mirror on the inside so yes there’s a lot of lot of selfies taken lot of Instagram exciting. Jason: [4:15] Yeah so it’s like taking me I have to be back as. With most malls apologies these days that’s it’s sort of intended to be a mixed-use space so there’s, luxury condos there’s a bunch of retail space, there’s a bunch of Premium food and then there are these sort of experiential spaces inside the vessel is this free one which is this really interesting structure with all these staircases outside there’s one you just mentioned and then it’s not open yet but they’re going to have, it’s very tall tower and they’re going to have I think the highest outdoor deck in the in the in Manhattan. Scot: [4:57] Yeah it’s called The Edge not to be confused with, one of the members of U2 but it’s cool yes cantilever doubt and I believe it’s like 70 or 80 stories up. So it looks like it’s going to be fun and it has an area there so he’s in Las Vegas on if you’ve been to them we’re going to glass bottom to it so not only are you you know I made some behind it in the air but it seems like. Jason: [5:24] Charter member of the ghost bar in Las Vegas. Scot: [5:26] I’ve also been there how about that. Jason: [5:32] Boiler word that means that place is no longer cool when Jason and sky. Scot: [5:36] We’re all in for table service and were the only people there so that’s going to be kind of fun to see what that’s like unless you’re scared of heights than that will not be fun. Jason: [5:47] Into what was your overall impression this development a little controversial. Scot: [5:53] Yes oh my I always go to my wife on this she felt like everything there was crazy expensive so so there’s as you know there’s an anchor stores a band I like to find things that can go on sale and there was like nothing on sale at this entire mixed-use environment so the betta shop was a power favorite another one there is a direct consumer sock company called stance and they were there so that was kind of interesting. Jason: [6:25] I have an inkling why you like them. Scot: [6:26] Yep they have Star Wars socks sadly they did not have them at the location, you know as a operator I just kind of couldn’t get my head wrapped around how many socks should have to sell to pay for the rent so I felt like something like 10,000 pairs a day so I’m not sure you allow these things, I lost four companies and they’re really more of the flagship branding kind of on the p&l versus like a real money maker. Jason: [6:52] Yes what it is going to be interesting to watch the. Anita manhattanites have been a little negative on this base you know they all tend to be tribal and stay in their own neighborhoods and there’s some well-established shopping district either close to where they work or where they habitually shop instead of Hudson yards is in a new, area that doesn’t have a lot of residential so it’s right next to Javits Center it’s coming on the water on the 33rd and 34th, and when you talk to about a manhattanites there like who’s going to go down there. Scot: [7:25] I’m so far away. Jason: [7:26] To go shopping and I always remind them like. Retail here isn’t probably first and foremost for them like it’s meant to be another tourist destination some of the traditional shopping centers for like luxury shopping like Fifth Avenue are actually starting to dying and brands are moving, away from there because their rent has just gotten so crazy, and so these kinds of places are are potentially alternative so I I don’t rule out Hudson you are being successful because of that like all mixed-use properties. What’s really going to make it successful or not is how successful they are at the mixed-use part like if they sell out all the the residential there and they. [8:06] Build a big community of potential customers and the the food is attractive enough to draw people there for date night and stuff. It’ll probably go well if those things end up being a facade and the only reason you’d go there is to shop the beta store or the stand store. There are other beta and stand stores in Manhattan so like I don’t feel like their store assortment is really differentiated like in fact. It’s mostly the assortment you see it at any other sort of a or even being Mall, in the US at this point and we’ll maybe talk about that in a minute the one really Unique Piece of retail there is the Neiman Marcus I’m in the reason I say That’s Unique is because Neiman Marcus is a texas-based, luxury retailer would like 40 stores open the new store and sometime and they haven’t been in the new New York market and so it’s kind of interesting. They’ve been relatively successful in the markets there in but. Opening a new luxury department store in New York is very ambitious because there’s a lot of pretty well-established luxury department stores inside this. You know it’s the newest in there for probably the nicest Neiman Marcus but it’s you know very high-risk high-reward whether they’ll be able to win over manhattanites with their ton of the Dallas Vibe if you will. Scot: [9:29] Yes several New Yorkers I know pointed out the a bit of hypocrisy about it because I think the the state and city gave a lot of development funds to this group I’m actually more than were proposed for Amazon so it’s kind of funny that this was allowed to continue but then you’re bringing Amazon which would actually I have more jobs than a bunch of living and retail space would have to be very interesting to see the the politics of Play-Doh. Jason: [9:54] I mean these kind of Economic Development incentive programs are super dominant in retail and in development and obviously. Why do you think there’s some hypocrisy there I also think it’s somewhat of a self-inflicted wound I mean Amazon dramatically raise the. The the the public awareness and therefore like made themselves as a Target so I maybe don’t have total empathy for them. But that this does dovetail to that the other thing I did in my New York trip is I went to another mall that’s south of Hudson yard called Brookfield Place and the reason I went to. The place is that’s that’s a downtown that’s very near the new World Trade Center. And it’s a similar mall with a very similar assortment of stores and actually I would argue while the food is is much more. New indistinct at Hudson yard the retail mix between Brookfield Place and in Hudson yard is very similar and therefore not differentiated. [10:58] What place has a lot of businesses already in it and they just open the first Amazon go store in Manhattan so for the, all the retail price that’s based in New York and I want to say Bloomberg might even be based in Brookfield Place, this became news because it was their first chance to experience Amazon go in their local market and so I want to see if they did anything different than they’ve done in the other nine Amazon go store. Scot: [11:26] Today was a similar footprint cuz it got like a sassy that got alcohol in some now there’s some big ones and some small ones but they all tend to have prepared meals and kind of more of a convenience store type selection. Jason: [11:39] Yeah I think if you drop those people in the store they wouldn’t be able to differentiate it from any of the other ones it’s definitely on the small end of the footprint. And it does not have alcohol and the one differentiating characteristic you would you would really struggle to noticed so, Manhattan is one of several municipalities that have this local ordinance that retail stores must accept cash. And so big that’s a big controversy for Amazon go stores because they they were not designed to accept cash and so, when Amazon open this store in Manhattan part of the pr round it was oh this is the first go store. That would accept cash so I went there you know amongst other things to see how they they plan to handle that in the answer is badly. Scot: [12:30] What kind of ruins the experience right the whole experience supposed to be totally digital. Jason: [12:33] So again the whole point is like you use the app to show barcode to scan your way into the store you just grab whatever you want and walk out in the cameras automatically charge you for everything and it’s just walk out technology. The pay with cash this time you can’t get through the turnstiles so you have to flag down an associate when you’re outside the store and get them to launch their app and cashew in meaning scan you in as a cash customer. And then when you’re done shopping you have to flag down another employee who’s going to wheel out a portable. Cash register with a cash box to accept your cash and then they’re going to have to walk you out of the car and it just. It’s a very light. Obviously they put a process in place to comply with the ordinance but if people really wanted to pay with cash this is an extraordinary High friction and experience and of course. I like to joke it with Amazon go stores they invented just walk out but they broke just walk in. Because there’s always a line in front of the store people trying to download the app to get in and now there’s people like, turn the flag employees to get cashed in it’s it’s an awkward situation for them I don’t think any of their customers want to use cash I think it’s just an order in this thing. Scot: [13:51] I bet they’re like a podcaster that wants to talk about our turbocash. Jason: [13:57] Exactly I like to pretend that I’m such an irritant that there’s a picture of me in the in the employee room that there probably isn’t. Scot: [14:06] Just a quick note we’re coming up on trade show season I am not going to a lot of trade shows but Jason is so code recode is coming up June 10th and that’s in York. Jason: [14:18] That this year so historically has been in Southern California is the first year they’ve moved it to The Phoenician in Scottsdale Arizona. Scot: [14:26] Should be nice and hot by them the show previously known as Internet retailer Conference & exhibition is now called retail X and that is June 25th I don’t think either of us are you going. Jason: [14:38] If I’m in so that’s in here in Chicago if I if I’m in town I will at 10 but I haven’t. Scot: [14:46] Poops then NRF has a new show called NXT or next and that’s going to be July 22nd etail East is in August 19th Jason speaking at grocery shop which is from the shop talk folks and that is September 15th what he’s thinking about. Jason: [15:04] Back in Vegas I’m moderating a couple of panels and you’ve totally busted me because as I sit here right now I can’t yeah it’s a. Scot: [15:11] I said grocery stuff from side delivery. Jason: [15:15] Transformation of a digital grocery is going to be super exciting don’t miss it. Scot: [15:19] Well it wouldn’t be a Jason Scott show if we didn’t talk about some Amazon news. Jason: [15:24] Amazon news new your margin is there opportunity. Scot: [15:38] A quiet couple of weeks at Amazon couple things we wanted to hit on so one thing I thought was interesting is in India Amazon is testing a travel program this is kind of like what I would look at liked Expedia business model were there, instead of just being a a better site there actually looks like they’re taking inventory so imagine imagine that goes well Amazon Alexa test these things a lot different markets imagine that goes well and in the next couple years imagine you could book your travel through Amazon and you know what can you tell me about that cuz imagines part of prime, I’m the beer that starts your travel habits Amazon so good at all this data processing they can do and they could give them an edge on going out and buying inventory so that the secret of the travel industry is a lot of times it’ll use this data and I’ll go by rooms Expedia will go take inventory risk, and then because they can go and say I was in Chicago’s when he busy and they go buy a bunch of rooms they can solve them and then they can you make a bigger profit or give a bigger discount so you can see Amazon doing some really interesting thing for Prime users wear you can effectively married with data you can effectively you know part of your Prime benefit would be really good hotel room kind of pricing I thought that was interesting. Jason: [17:01] That further expanding the definition of the everything store. And went winning is mounting interesting to me about that is wow they’re pursuing that business model in India that model in the US has become somewhat controversial because you know who is really. Threatening the traditional travel portals here is the Google so you know very hot you you do what you Google. Hotel or flight information and now the incident answer box pops up and you can actually book your travel through that, is answer box a lot of the traffic that would normally flow from Google the Expedia or Travelocity or those sites Google’s now. Started stealing and monetizing and that’s like you know obviously that the traditional travel portals are not in love with it. So that’s an interesting watch another part of the world Amazon acquired a delivery company in the UK called delivery. The main reason I want to bring that up is because it’s really fun to say deliver roof. But this is another one of those businesses that they’re not. As big and in the u.s. delivery was sort of the doordash in the UK there are a meal delivery service in so that that was interesting acquisition as Amazon continues to bolster their. Their breath of offering and their global. Scot: [18:25] Speaking of delivery in Amazon so we talked about on the last show day Amazon in their q1 earnings, announce that they are going to move Prime from two to one day now a lot of that is being driven by this program called the delivery service providers and that’s where they have these really fancy Mercedes sprinters out there they’re kind of like this gray with the orange Amazon smile. I see you like 20 a day in my area I think they, Danish about 20,000 of those next day delivery they talk about an 800 billion dollar investment I think that’s going to be a lot into that program and I think they’re having enough challenge getting people there then now that any Amazon employee that want to set up their own DSP business Amazon will, set them up the game guarantee volumes and then they’ll actually pay their there previous job out three or four months so you know if they’re getting very creative on how they get more people to start these kind of 1099 delivery businesses for. Jason: [19:28] And the way I think that’s got like it’s it’s not a 1099 individual employee delivering stuff from Amazon it it’s essentially. Amazon hiring a franchise business to do deliveries and I think they’re their preferred version of that business has more than one van. Scot: [19:46] Absolutely yeah they want they want employees to go and set up you know a business and hire 10 people and manage the whole thing and, 10 20 30 40 50 people, the first company that did this is FedEx Ground so ground is effectively uses if you go to the dance closely every fax van has kind of been the corner operated by, Jason Chicago delivery company FedEx air is completely owned and operated this broad category there’s a lot of legislation around this, out there the labor market just the labor department actually just opined and said individuals as 1099-r can still be 1099 now we’ll see how long that stays there because it’s in the political world and there’s been a lot of FedEx has done a lot of litigation around the way they do the businesses and that’s that’s pretty. I’m pretty well litigated and if there is a business a true business then it can be kind of 1099 relationship. Jason: [20:46] And this is not so uncommon like obviously a lot of other kinds of businesses are are actually a network or franchisees like a lot of fast food restaurant chains for example and often, when you when you’re in growth mode one of the ways you if your Burger King or McDonald’s that you might grow your franchise footprint is you, you looking at an employee base and go to all those good assistant managers and offer them financing to buy their own, franchise in so I think of this Amazon program is someone on the same one. Scot: [21:18] Yeah where it could bite you is I say you have you know this engineer working on AWS who gets a wild hair and wants to be on. That made a harsh Street place I don’t know how many people I don’t know who they’re actually offering this to my my guess is probably kind of like supervisor enough time in the Fulfillment center so so they didn’t cover that in the Presley’s but I bet there’s a certain type in that yeah if you are a senior developer this probably isn’t available to you. Jason: [21:48] I would say if you were a conspiracy theorist. Amazon is sort of rejiggering they’re the real estate and they’re moving a lot of employees around and one of the things that happens as you have. Sojourn. And so potentially this is also a way to mitigate mitigate some of that turn that some of those employees that maybe wouldn’t have relocated to the new facility that you’re moving their team to stays in the family with one of these business. [22:19] In tow, you sort of wrapping up our Amazon delivery news Amazon of course I made a Big Splash in the US they announced that they were primarily going to, one day delivery and we we’ve talked about this in a previous episode of the show Because of Winn Amazon on their earnings call announce, did they were moving from 2-day delivery free with prime to one day delivery free with prime there was kind of a snarky tweet from Walmart. Saying at that doesn’t sound like you do News free one-day delivery with no Prime Membership would be a much bigger deal. And we all took that to imply that that was something Walmart was working on with but wasn’t prepared to announce. And so now of course they have announced it and, I would say it’s kind of mixed it was not exactly what I expected so they’ve they’ve announced that they’re Walmart has announced that they’re going to provide free one day delivery on orders over $35 which is their usual shipping threshold. In initially in three marker. [23:27] What’s it isn’t that big a deal but they sound like they’re they’re intending it to scale at rapidly so they they intend to reach 75% of the US population by the end of the year. And so you know they I’m calling this the one day Shipping Wars as as both these companies are sort of escalating the. The shipping promise. As we talked about in the previous episode Amazon has a lot of infrastructure to leverage to do this and it’s probably kind of a incremental thing for Amazon, it’s probably going to take a much bigger investment from Walmart and arguably Walmart eCommerce already isn’t profitable so this is probably like, a pretty painful move for Walmart to further a road margins to keep up the service level that that Amazon has offered, are you a Walmart can afford to do that what’s going to be interesting as the rest of the the market right at Walmart and Amazon are both offering one day delivery that’s going to set a new expectation level that all the rest of retailers are going to really struggle to me. Scot: [24:32] Yeah I saw an interview with Mark Lori and another reporter said you must be doing this from the stores and they said no it’s going to be from the warehouses and so it’s interesting so there’s like a whole different set of inventory that will be available for that I’m going to be kind of play this out you know the next kind of domino fall is Target and noble fir Target talk about more than 50% of their stuff is so from the store so what are Target can almost get there faster on the smaller selection of store items by cranking up the ship from store kind of capability. Jason: [25:05] Yeah I think that’s exactly the the trade-off that they each have to make Amazon’s got. North of 400 million skus that they sell now. Several million of those are available for this too and that one day shipping likes them millions of skus in there one day shipping program Target. [25:29] Primarily sells the assortment that they have in the stores now they do have a broader assortment online and and they recently made no news because they’re adding their own Marketplace but all that ship from store, is the store inventory so the overwhelming majority of Target sales are the 60,000 skus that are in a Target store side note. Those those popular shoes are generally the hardest ones to be profitable. And then Walmart has been kind of in-between they have a hundred thousand skews in a typical Walmart store and I assumed that’s what they were going to offer one day on because that would be a pretty painless thing to do is ship from store. And they actually didn’t do that they’re they’re saying that they’re assortment for one day shipping is going to be about 200,000 skews so that’s twice the assortment of a store. They’re shipping from the Fulfillment center it sounds like least initially they’re shipping from existing fulfillment centers but they’re going to have to dramatically expand those performance centers cuz traditionally. Walmart is spread their inventory around there 8 for filament centers in when you order 10 things you may well get three boxes and so what they’re now saying is you’re going to get everything from one for the moment Center and it’s going to be up to. 200000 items that we can promise one day and so essentially what Walmart is really doing is. Adding a bunch of capacity to their existing Adidas e fulfillment centers to offer this new service. Scot: [26:51] There’s a beauty that means just bigger or more robots or more people. Jason: [26:55] So don’t know they haven’t said but I suspect the answer is going to be Automation and the not so much because the automation is more efficient that’s a benefit but. One of the cool things about these automated systems is they stack up higher in so you can get inventory all the way to the ceiling as opposed to just inventory that a person. Marker 02 [27:14] Speaking of Walmart we are entering a peak earnings reporting season for retailers and so Walmart did report their earnings and, is generally pretty good. Their earnings were slightly above expectations of Revenue was slightly below expectations same-store sales were up 3.4% which is right about, we’re the analyst expected them to be and then the big number I always like to watch at Walmart was there eCommerce sales were again up 37% for the quarter so they’ve been in that, 40% range last year they promised 40% for the year and they basically hit it I think they said that that for the year that the growth will still be big this year but slightly lower and so starting off with 37% is probably pretty good. Scot: [28:02] Yeah an Amazon this slow down so Amazon’s kind of in the low 20s now and you Walmart Ecommerce going twice the size of Amazon which will help him catch up now you pointed out on the show a lot that’s coming from grocery so what can I have to see you at some point every store has curbside grocery then it becomes a game to see if you know can you drive more general merchandise and grocery sales do that that e-commerce pipe. Jason: [28:27] Yeah I think Walmart has basically laughed all of their big Acquisitions and so the company against those now but they still only halfway to plug with groceries so they’re still comping against stores that have you just called her the didn’t that goes to ask. Scot: [28:42] Yep and they always do more Acquisitions that always helps with the inorganic I’m so set up going into the earnings was interesting cuz Macy’s surprised books in a positive way same-store sales grew .6% which you know you may say wow that doesn’t sound great but you know I think while she was looking for a flat down and then they you know the the stock reacted positively I visited I actually here in Chicago I visited Macy’s and we went to the one in York is really interesting to see story so in Chicago is pretty start there’s other renovating it so there’s like all these gray sheets hanging around and then, talk to you in theirs is colorful section of the store so it almost felt like story was taking over Macy’s in the signage everywhere and even the one in New York the story really like you. So interesting to see a lot of innovative things are doing at Macy’s. Jason: [29:37] For sure the next one really surprised me is Kohl’s and Kohl’s has been sort of an outlier in the his department store stories they’ve been the one, department store that isn’t completely value-oriented that like has been generally conferring comping pretty favorably, and in particular their same-store sales have comp favorably every quarter for I think the last two years they made a lot of news around their partnership with Amazon and letting you return Amazon packages in the store which they, have said drives a lot of incremental traffic to the stores so they’re a little bit of a earnings darling and they just had their earnings call this morning and. Surprisingly pretty severely down so same-store sales were down 3.4% I think the the initial reaction on the market is the stock really took a hit the management team, talked about my favorite excuse they bring the weather, which to me is always a warning sign and they you know they talked about the risk from tariffs. Potential warning sign at Kohl’s at first first sort of chink we’ve seen in their armor in a while. Scot: [30:49] Yeah I also heard and we’ll talk about JCPenney I heard Kohl’s and JCPenney are trying to dial down promotions in the consumer is not reacting well to that they’re kind of like I’m not coming to your store unless you’re going to give me some kind of a promotion of some kind. Jason: [31:02] Yeah and so I think Kohl’s answer in his earning call is so we’re going to go back to the promotions and if that’s of course a one-way door that you you basically can’t reverse once you educate customers to only shop for the deal your car stuck with that for the rest of your life. Scot: [31:17] Yeah it does so JCPenney also announced today and it was kind of a worse-than-expected situation so they’re the same store sales were down 5.5% revenues down 4.1% I’m so you may ask yourself why is that different will there be the closing stores quickly which which kind of helps and then the bad news is why all this is happening there they’re spending more than expected so they missed on DPS as well Macy’s telephone Tale of Two Cities with Macy’s and Wal-Mart so far really kind of coming out ahead and then Kohl’s and JCPenney I’m coming down behind, I also was announced today in a we try Molly getting here on the show Dress Barn announcer closing 650 stores we’ve had I think we have had more store closures and now started this year than all of last year, so so this kind of in a mulligan is worsening it kind of went was flat from 17 and 18 you’re 19 feels like it’s definitely kind of the snowball is gaining momentum so I think there’s white like 5,000 stores that have been announced and that’s what we did last year. Jason: [32:25] Potentially even a little more now. Scot: [32:27] Yeah so that’s that’s. I kind of used his good news I think we need to kind of clear out this dead underbrush and then build a new retail experiences so we’ll see how that goes. Another we want to spend time on today we kind of touched on it while the whole episode with web episode 174 was about direct-to-consumer digital native vertical Brands but really there’s been a lot of news they’re so we so Perry’s was acquired for 1.6 billion what is interesting things about that acquisition is that we’ve seen this too so I kind of called this analog company buys digital DNA and then what it what do they do with that digital DNA so some of the early ones were PetSmart bought chewy Walmart by jet and they took the leadership of Jet and put him in charge of a lot of things mostly e-commerce and then we saw it with Dollar Shave Club, I think they founder of Dollar Shave Club is now running a pretty big piece of the car and Company there so it was interesting about this announcement is the Harry’s team is going to be running the whole us operations of the clearing company which is shiksa substantially. Jason: [33:45] That’s kind of a pun for the shipping industry. Scot: [33:48] Edgewell Cooks so you know this this is and of course 1.6 billion is nothing to sneeze at so it’s really heating up in this space also a way to raise capital. Jason: [34:03] Yeah where is the another hundred million dollars, I think we talked the last year mid-year they raise about 50 million dollars but what got people’s attention was they raised it a 1.4 billion dollar valuation so I think it was Wellington Capital Management LED this particular round but one of the things they said they’re going to do with this cash is open 50 new stores in a bunch of new markets and potentially introducing new product. Scot: [34:30] Yeah in love and one of the things in the world of venture capital that we look at is this whole unicorn Club so once a company gets up to a billion dollar valuation it’s called The Unicorn there’s not that many of them that’s why I’m so now we’ve got. Between 6 and 8 depending on how you’re counting companies in that club so I’ll just go quickly through it Warby has a 1.75 billion valuation is raised about 300 million allbirds is at 1.4 has raised 77 million weigh at 1.4 billion and has raised a total of 156 Harry’s which was acquired their previous valuation was 1.4 and they raced 250 million eyeglasses at 1.2 billion valuation 187 million raise Casper 1 billion valuation at 340 million raised Dollar Shave Club 1 billion at 163.3 million and finally hymns in kind of the direct-to-consumer pharmaceutical space a billion dollar valuation on about 200 million dollar wrist so. [35:34] You know those are interesting numbers you can kind of look at the multiples there you made a point that was interesting can I sell you on the show you guys should get such a big valuation why would a way not raise more capital and I think you know. Couple things are sometimes these sometimes I sugars are choosing to get in this billion club and then the capital E raised have a lot of negative aspects to it it’s effectively almost like alone so so the people in the investors at that scale will say all right I’ll give you this evaluation but I got all these protections there’s several. Jason: [36:10] Ratchets in the. Scot: [36:11] Yeah there’s there’s they can double dip on participation so there’s like there’s all these things that you can bake in there took the really kind of take their us-20 could be part of it is there is no you don’t want to. Pull down a lot of that kind of capital another thing that could be in there is. Also you could have things that commit to going public so some of this is called mezzanine Capital has kind of a trigger in there that says in 3 years if you don’t come go public or have an exit this thing kind of like explodes on you or it turns into start paying it back. So the other one that I’m seeing is if we pick on a way the big fan of the brand they’re I think they’re actually profitable so when they’re going in and raised in this Capital it’s usually for a very specific purpose that says, Iowa krapfl right now but we want to own we want to open 40 stores that’s going to take 30 million to open those doors so then we’re going to go ahead and kind of little cushion on that and draw down a hundred so you know so is that that could be another reason why there’s not a lot of capital being pulled down. Jason: [37:17] That meant that makes total sense. Scot: [37:20] Another thing I wanted to talk about that that I’m watching really closely is the IPO windows open so we had you know you could argue if it’s successful or not but we had IPOs from lifting, if someone else in our space that is filed to go public is chewy so when you file go public the document you file with the SEC is called the s-1, is pie crust dry reading everywhere it’s kind of a poop sandwich I like to talk about it so so what you know the because of the way the laws are set up, you almost have to discourage people from investing in your company I haven’t gone through this process before so what you do is the bread you have to have kind of like the SEC is in 3 sections the first part is you know All These Warnings you know. And it’s kind of funny that the the buses to financial press boost the Press I’ve noticed retail they kind of focus on those things and they’re like oh my God they could be exposed to all this competition and but you purposely have to make that negative so you avoid lawsuits from someone saying chewy didn’t tell me PetSmart was a competitor blah blah then the delicious middle part is called the management discussion and then you have a bunch of the end so I encourage listeners to kind of open up the two S1 go right to the management discussion and then this really interesting things there I wanted to share. Jason: [38:38] Answer a question for me about the wrist part. You read those sections and it’s super Armageddon the and I sort of imagine that there’s somewhere there’s this really funny we go boilerplate of all the bad things that could happen to a business and so you I suspect you’re not inventing this way from scratch every. Scot: [38:57] Yeah what you do is you look here, so you go out there and you look at all the other risk factors every public company update some annually typically when they do so you have to accuse and then your cat when they do their K they will update the risk factors so I’m sure I’m sure you know what the lawyers did is they went out they looked at all the public retailers and they kind of whittled it down to the most Salient ones her for 2. Jason: [39:19] I’m talking like the population could catch SARS and not go outside and stuff. Scot: [39:25] Yeah yeah you know how lawyers are they want you to just kind of put everything in there. [39:31] Dep so nothing ever comes out of the risk section I can definitely play that easy to add stuff nothing ever comes out. So just some highlights there in just a refresher so so chewy sells obviously pet in the pet category they were acquired by PetSmart in Q2 of 2017 so it was actually kind of a spin out that way and they were founded back in 2011 in the second quarter. [39:58] It was impressive to me was the scale so so chewy is now a 3.5 billion annual revenue company, that was a 2018 Revenue compared to 2.1 billion in 2017 so that’s a 67% year-over-year growth rate, which is pretty impressive now the losses were pretty sizable so I filled it this thing called adjusted ebitda they lost 268 million on that three and a half billion, I’m set that equates to kind of a minus 6.5% margin so snarky folks would say sure anyone could build a business with this going that fast if it’s losing money but the way you think about this, you know this business is trying to get into a very high orbit and when you try to get more of it you have to burn some some people to get there since essentially what they’re doing and if I think if you looked at other companies you don’t like as a post or you know any of these other kind of companies that I’ve got to the scale I think they’ve actually done it in a pretty efficient way. What do you peel the onion on a wire that is another aspect I will also point out is. [41:05] Justin Bieber dies in Oxford or tend not to look at that because you don’t have a lot of control over it there’s all these County roles you can’t control, right so a lot of the stuff that comes out you run your business you think you’re doing a great job is in your adjusted ebitda got worse on there so why would sound of your control so what most companies do as they look at free cash flow which is as an operator while you have more control over and I can’t I can’t control what you’re going to do to my Revenue when it runs in the counting rule that I can control you’re selling more and spending less so there are actually free cash flow was -57 Million so I would argue with a 3.5 billion top-line you’re effectively, cash or break even. Is that that’s a good indicator that that you know this is a really well-run business and those lines that I would imagine unless they accelerate further at that same growth rate they would be free cash flow positive so why is that what was kinda secret while they were the things I love about this management discussion is you get kind of inside the head of the operators and they spend a lot of time in there. [42:07] Talking about subscription spend their version of that is auto-ship so 65.7% of their revenue is on auto-ship which is amazing you may know better than I do what the typical industry averages but I think most retailers that have a subscribe function and it’s probably like in the 10 to 20% range but of course obviously not stitch fix or something like that the whole model I think it’s really impressive for a general merchandise kind of retailer in the category to have so much on auto-ship, they have 10585 active customers another thing will try to put the show notices. A lot of these as ones do really interesting job looking at Kotor analysis so get as an operator I like to look at this because I like to kind of think about how I think about my business and compared to how they think about their business Uber and Lyft had really interesting examples of this. [42:58] What things they show is in their cohort analysis is they’ve been able to take the average sales per customer from 2016 at about $297 today at $334 so it’s nice about that is in addition to acquiring new customers in there, kind of increase the sales from existing customers more than 20% Which is pretty impressive a lot of times that goes down over time so they’ve done a really good job of. Building loyalty from a wallet standpoint and part of it probably is related to this auto-ship program. Jason: [43:35] To me it’s it’s the interesting thing here is they they were acquired a couple years ago by brick-and-mortar retailers and now that retailers spinning them off again as a separate public company in it it seems obvious. There really an outlier in terms of how well they’re performing as a pure play e-commerce site in many ways by, the profitable are not very few. Play companies have gone to that two to three billion dollars in Revenue in almost all Pure Play retailers struggle with the repeat purchases and so, repeat purchases and such a valuable spent per customer and have so much of that locked in Via Auto replenishment. Is terrific, oh, because they’re still not making a lot of money I feel like they’re they’re not getting a lot of credit for all those good things so I’m assuming they’re going public because they feel like. The the stock market will better reward them for their scale even if they haven’t achieved profitability. Scot: [44:35] Yeah could be of value unlock play it could also be you know I don’t think integrated the websites did they so so he’ll be really weird if I’m running petsmart.com I’m probably I’m going to go out on a limb and guess I’m getting my butt kicked by chewy I I can’t imagine that is growing 67% and that 3.5 billion dollars may have seemed like a good idea and then they may actually be good kind of moved to an arm’s length relationship. Spend it out I’m kind of thing that could be part of it as well. Jason: [45:08] So that’s going to be interesting to watch we’re coming up on time but there were a couple of interesting grocery tidbits I wanted to at least. Briefly acknowledged there was an interesting partnership that was announced this week between Lidl and boxed and is a reminder for our listeners Lidl is a highly successful German grocer that’s really focused on low high quality with low cost of goods and they they famously tried to enter the US market a couple years ago and, your your hometown is one of their initial markets, and they weren’t super successful so they kind of slowed down retooled and now they’re getting ready for a second big push in the US, wheedle in a very similar company them all the historically they really focused on No Frills, barebones price in so they therefore completely ignore digital so one of the interesting things to me is as we don’t rely on Chaz in the US they’ve done this interesting partnership with, text in there they’re essentially renting, the Fulfillment of hardware and software the Box built for their own business to do. What to use for grocery fulfillment as part of a digital offering so I’m excited to see, what sort of digital experience Weedle is going to offer when they they relaunch here in the US and it’s going to be fueled by box. Scot: [46:35] Shelby Nursing I get smart on the box side to have differentiated Revenue so they can sell direct to Consumers and also be a technology provider into the grocery. Jason: [46:45] Yeah I was disappointed digital didn’t play any part in their initial launch so I’m pleased to see that they’ve seen the air in their ways there, Kroger announced a new investment arm to invest in these, direct-to-consumer cpg brands that they’re launching into it we talked before. Maybe the most successful venue for launching new branches is inside of a retail store instead of seems like Kroger’s way of getting unlocking some extra value for helping some of these Brands become successful, and then a funny when I saw is Bed Bath & Beyond just launched a new commercial. Which is intended to be humorous. Sort of that commercial where they’re explaining brick-and-mortar shopping to a millennial. Scot: [47:40] Yes it is only a couple is kind of like sitting in bed online shopping and then they’re like trying to encourage them to come to a store so so I thought it was quite interesting to me is somebody like some kind of sign of the apocalypse and realizing that it is nigh in a pond. Jason: [47:54] Yeah I feel I feel like there’s some infection point we used to have the funny commercials where these well-established brick-and-mortar Brands were trying to convince people to buy online so you know, it was the ice shipped my pants campaigns and things like that in the in the early days of e-commerce and now the fact that we’re having to do funny commercials to remind people you can still go to a store and buy something, definitely definitely said something about where we are. And that’s probably why you’re all listening to the show and therefore it’s not going to surprise you that it’s happened again we’ve run out of our, a lot of time so if there’s something you had a question about a want to continue the dialogue we’d encourage you to hit us up on Twitter or jump on her Facebook page and as always if you got bad you out of this episode we sure would appreciate it if you had. 30 seconds jump over to iTunes and give us that five star review we desperately crave. Scot: [48:44] Thanks everyone we appreciate your five star reviews and we will be back next week. Jason: [48:49] And until then happy commercing.

“Be your customer’s voice and their advocate.” A Colorado native and proud Walmart associate, Emily Barrett is a senior marketing manager who has worked on Walmart’s Grocery Pickup & Delivery business for over four years. She has taken the program from a two-city pilot to a national offering. She is now spearheading Walmart’s Grocery Delivery program, which will be in over 1,600 stores and 200 markets by year-end. She has a passion for marketing and understanding her customer, which allows her to use her analytical and creative side to deliver successful campaigns. Listen And Learn: How to balance the need to drive trial while focusing on repeat customers. Delighting the customer at all points in the sales funnel. Using data to refine marketing initiatives. How content impacts an integrated marketing approach. Taking advantage of your customers’ “idle time.” TO LEARN MORE ABOUT WALMART eCOMMERCE, CLICK HERE. TO FIND EMILY BARRETT ON LINKEDIN, CLICK HERE.

LS International speaks with Walmart eCommerce’s VP of Digital Acceleration, Kate Pearson. We discuss with Kate about how an army background has contributed to her career in business. Being someone who’s managed big teams in traditional Retail but is currently working on projects that are cutting edge, she’s developed a leadership style that’s enabled her to be successful in very diverse set ups, from the Army to Retail, Logistics and Strategy. “Many people think of the military as a command and control leadership style, but the military really encourages leadership development and is very influential on how we think about leadership in Business. I learnt how to motivate and develop future leaders and grow talent”.

Ted Hopkins, Senior Director of Walmart Ecommerce, joins us to talk about mini programs, eliminating lines in stores, and the future of retail in China.

GUEST BIO: [Travis Kessel](https://www.linkedin.com/in/traviskessel/) is the Senior Director of Talent Acquisition at [Jet](https://jet.com/), acquired by [Walmart ECommerce](https://corporate.walmart.com/galleries/ecommerce). His initial job as an accountant motivated him to move from Virginia to Chicago, where he landed his first recruiting job. Shortly after, he confidently opened his own staffing agency only to be shut down two months later by the collapse of the [Lehman Brothers](https://en.wikipedia.org/wiki/Lehman_Brothers). After one more short stint as a recruiter at another agency, Travis became the Vice President of recruiting at [Edelman](https://www.edelman.com/), the world's largest PR firm.At Edelman, Travis learned a new side of recruiting and started to place companies with candidates that paralleled their brand. Craving a tech focused company, Travis left Edelman to work at Jet, which was previously acquired by Wal-Mart E-commerce. As The Senior Director of Talent Acquisition, Travis focuses on the systems of the hiring process and the future of acquisition as it meets advancements in artificial intelligence. SHOW SUMMARY: Today's guest is Travis Kessel, the Senior Director of Talent Acquisition at Jet, owned by Walmart E-commerce. Travis connects candidates with the right job, spending his days building new companies or extending branches of established corporations. As a talent acquisitions expert, he has used marketing and psychology to become one of the best recruiters in his field.In this episode, Travis explains the do's and don'ts of applying for a job, how to get noticed amongst hundreds of other applicants and the new technology that is automating the recruiting process. This is the Lean Commerce Podcast. TOPICS: What is the process you look at for e-commerce talent acquisition? 1:00 The process is similar to how we move people through to hire, such as collecting resumes, assessing them, phone screens, outside vendor tests and then an offer. 1:58 Artificial intelligence is creating a streamlined process that allows us to bring on new talent and Travis is looking forward to the future of AI in talent acquisition. What kinds of roles do you usually recruit for? 2:33 My team is broken into three main areas: category management (retail),technology, and business/customer care (supply chain, marketing, customer care, high level positions). 3:36 My favorite part of my job as a talent recruiter is the variation in my responsibility,where one day I am building a company from nothing and the next I am scaling part of the world's largest company. 5:11 One of the largest challenges in hiring is that a director at one company has a different role than a director at another company which means hiring for each position involve two totally different people.How has your career brought you to this point? 6:20 I started in accounting, and admittedly was terrible at it. I found myself in Chicago where I started as a recruiter and then started my own staffing industry two months prior to the Lehman Brothers collapsed. This forced me to work for another recruiting company where I was later laid off. 9:27 I moved to Vice President of Recruiting at Edelman, the world's largest PR firm, where I first started to understand branding as it is related to talent acquisition. 10:15 I decided to move from Edelman to Jet, where I wanted a company involved intech, scaled quickly and had the opportunity for him to put a mark on the company in a unique way. What is currently happening in the top of funnel resume attraction space? 17:33 We have a big focus on building our brand in a way that it seems you can only do when you are face to face with somebody. We've found that our story resonate best when other people tell it, so I look at interesting acquisitions to bring people into our funnel and have them apply. 18:40 One time we built out an RV with technology on it that was true to Jet, placed

GUEST BIO: Travis Kessel is the Senior Director of Talent Acquisition at Jet, acquired by Walmart ECommerce. His initial job as an accountant motivated him to move from Virginia to Chicago, where he landed his first recruiting job. Shortly after, he confidently opened his own staffing agency only to be shut down two months later by the collapse of the Lehman Brothers. After one more short stint as a recruiter at another agency, Travis became the Vice President of recruiting at Edelman, the world’s largest PR firm.At Edelman, Travis learned a new side of recruiting and started to place companies with candidates that paralleled their brand. Craving a tech focused company, Travis left Edelman to work at Jet, which was previously acquired by Wal-Mart E-commerce. As The Senior Director of Talent Acquisition, Travis focuses on the systems of the hiring process and the future of acquisition as it meets advancements in artificial intelligence. SHOW SUMMARY: Today’s guest is Travis Kessel, the Senior Director of Talent Acquisition at Jet, owned by Walmart E-commerce. Travis connects candidates with the right job, spending his days building new companies or extending branches of established corporations. As a talent acquisitions expert, he has used marketing and psychology to become one of the best recruiters in his field.In this episode, Travis explains the do’s and don’ts of applying for a job, how to get noticed amongst hundreds of other applicants and the new technology that is automating the recruiting process. This is the Lean Commerce Podcast. TOPICS: What is the process you look at for e-commerce talent acquisition? 1:00 The process is similar to how we move people through to hire, such as collecting resumes, assessing them, phone screens, outside vendor tests and then an offer. 1:58 Artificial intelligence is creating a streamlined process that allows us to bring on new talent and Travis is looking forward to the future of AI in talent acquisition. What kinds of roles do you usually recruit for? 2:33 My team is broken into three main areas: category management (retail),technology, and business/customer care (supply chain, marketing, customer care, high level positions). 3:36 My favorite part of my job as a talent recruiter is the variation in my responsibility,where one day I am building a company from nothing and the next I am scaling part of the world’s largest company. 5:11 One of the largest challenges in hiring is that a director at one company has a different role than a director at another company which means hiring for each position involve two totally different people.How has your career brought you to this point? 6:20 I started in accounting, and admittedly was terrible at it. I found myself in Chicago where I started as a recruiter and then started my own staffing industry two months prior to the Lehman Brothers collapsed. This forced me to work for another recruiting company where I was later laid off. 9:27 I moved to Vice President of Recruiting at Edelman, the world’s largest PR firm, where I first started to understand branding as it is related to talent acquisition. 10:15 I decided to move from Edelman to Jet, where I wanted a company involved intech, scaled quickly and had the opportunity for him to put a mark on the company in a unique way. What is currently happening in the top of funnel resume attraction space? 17:33 We have a big focus on building our brand in a way that it seems you can only do when you are face to face with somebody. We’ve found that our story resonate best when other people tell it, so I look at interesting acquisitions to bring people into our funnel and have them apply. 18:40 One time we built out an RV with technology on it that was true to Jet, placed it in a college campus and then let people experience the brand through interacting with it through VR, etc. How will AI be used in top of funnel resume screening? 22:45 I think it’s the future of recruiting because AI can learn what a recruiter wants to look at and then can take over that job. LinkedIN is currently doing this, pulling candidates that are most likely to resonate with a recruiter to the top of the funnel after the recruiter has interacted with several profiles. 24:35 In turn, the recruiter has more facetime with the business and can move away from the administrative tasks that don’t move the needle. The candidate experience becomes better because the recruiter knows where to go to nurture relationships and put the company’s best foot forward. How do you get noticed amongst other candidates? 26:50 I think there is a lot of value to reaching out to other people working in that business and building those relationships, even if they aren’t in the job you would like.Try to approach the business in a smart and tactful way, such as making strategic introductions. What tips do you have for somebody aspiring to be a recruiter? 31:12 Focus on marketing and psychology, because those two things combined are what a great recruiter does well. Be interested in the creative side and in having long term relationship with your clients. Have you seen anything interesting happening for inbound marketing for candidates? 34:48 The traditional career page and what that looks like to our prospects is extremely important. It’s important to show people that they want to work with you, they understand what that would imply and that it’s easy to go through your application process. 35:55 The search is very important as well because most people are Googling jobs based on title and location, so you want to make sure to SEO test your jobs to make sure you’re one of the first jobs that appear. Should you be able to use mobile to apply to a job? 38:19 With any career page, you have to be able to pull it up on mobile. You have to be able to view and place an application through mobile, and that experience is mandatory. Do’s and Don’ts for applications: 39:20 DO proofread your resume, DON’T go too far into the personal aspect of your life(don’t lead with your hobbies), DO make it one full page (not over), DO have an appropriate email address, DO clean up your social profiles Resources mentioned in the Podcast: Walmart.com/careers Jet.com/careers Travis Kessel email: travis.kessel@jet.com Dr. Travis Kessel LinkedIn Dr.Travis Kessel Twitter

Marc Lore's first big startup sold diapers, and it was bought by Amazon for more than $500 million. Instead of celebrating, Lore felt a let down. After Amazon, he went on to found a competitor, called Jet.com, which he recently sold to Walmart for $3 billion in cash, plus stock. This time, he's had a number of reasons to celebrate. Now he's the president and CEO of Walmart eCommerce in the U.S. The stock is way up. On this episode of "Success! How I Did It," Lore describes how he founded several companies with his childhood friends, and what made the Walmart deal different than Amazon's.

Walmart eCommerce President and CEO Marc Lore talks with Recode's Jason Del Rey about how Walmart's digital strategy has changed since it purchased Lore's company, Jet.com, for $3 billion last year. He announces that Walmart shoppers will see their in-store purchases reflected in their online account and mobile app shopping list. Under Walmart CEO Doug McMillon, Lore says, Jet is moving faster than ever. It's resonating with higher-income millennials and attracting higher-end brands to cater to those customers. Learn more about your ad choices. Visit podcastchoices.com/adchoices

EP043 - Seth Beal, SVP Global Marketplace at Walmart eCommerce Seth Beal, is the Senior Vice President, Global Marketplace at Walmart eCommerce (4th largest e-commerce site on the IR500). In this broad ranging interview, we cover: Seth's background and how he came to lead Walmart's marketplace Walmart Marketplace  Amazon competition Jet Acquisition Omni-Channel implications for a Marketplace Innovation Book Recomendation: Sam Walton, Made in America This episode is sponsored by the National Retail Federation.  The Jason and Scot show will be live podcasting at the NRF/shop.org digital summit 2016 which is in Dallas September 26-28th this year.  We have a custom discount code for our listeners. The code is JASON&SCOT, you will get a 10% discount on the full conference fee. Visit  retailsdigitalsummit.nrf.com to enter the code when you register for the show and we’ll see you there! Don't forget to like our facebook page, and if you enjoyed this episode please write us a review on itunes. Episode 43 of the Jason & Scot show was recorded on Thursday, August 25th, 2016. http://retailgeek.com/podcast Join your hosts Jason "Retailgeek" Goldberg, SVP Commerce & Content at Razorfish, and Scot Wingo, Founder and Executive Chairman of Channel Advisor as they discuss the latest news and trends in the world of e-commerce and digital shopper marketing.