WEBVTT

00:00:00.208 --> 00:00:01.334
Welcome to you both.

00:00:01.584 --> 00:00:02.419
Jose, to you first.

00:00:02.419 --> 00:00:06.214
Just talk me through some of the big
trends that you're noticing in the retail

00:00:06.214 --> 00:00:07.215
sector at the moment.

00:00:07.215 --> 00:00:09.592
What's particularly standing out for you?

00:00:10.260 --> 00:00:13.430
So we see a big evolution in many things.

00:00:13.430 --> 00:00:18.059
I think I would say the most thing—the
most important thing that we see driving

00:00:18.059 --> 00:00:19.686
is what we call omnichannel.

00:00:20.186 --> 00:00:25.483
People are going from physical retail to
their app to ordering stuff to getting

00:00:25.483 --> 00:00:28.653
information and then going back into the store.

00:00:28.945 --> 00:00:33.158
So creating omnichannel presence—being in
the digital space and being in the

00:00:33.158 --> 00:00:36.953
physical space—is, I would say,
the biggest trend that we're seeing.

00:00:38.038 --> 00:00:41.249
The other one would—is what we call
beyond retail.

00:00:41.249 --> 00:00:45.503
How do we take advantage of our millions
of transactions?

00:00:45.503 --> 00:00:48.840
We have over 13 million transactions a
day in our convenience stores.

00:00:49.257 --> 00:00:52.552
How do we take advantage to create other solutions?

00:00:52.552 --> 00:00:55.638
So retail media is a big,
big component of what we're seeing as well.

00:00:56.264 --> 00:00:58.099
I would say those two things stand out.

00:00:58.475 --> 00:01:02.604
Nate, what sets the winners apart, though?
In any environment, any retailer,

00:01:02.604 --> 00:01:06.691
the first thing is to understand the
customers' needs expectations and adapt

00:01:06.691 --> 00:01:07.108
to them.

00:01:07.108 --> 00:01:11.654
So the winners in retail are really good
at sensing when things are changing and

00:01:11.654 --> 00:01:14.491
adapting their model and their economics to that.

00:01:14.491 --> 00:01:17.285
A couple of things right now are personalization.

00:01:17.285 --> 00:01:19.746
Not just personalization as in getting
the offer right,

00:01:19.746 --> 00:01:23.291
but actually personalizing even down to
the store level the assortment you have

00:01:23.291 --> 00:01:24.459
and the offering you have.

00:01:24.459 --> 00:01:25.877
We call that localization.

00:01:26.377 --> 00:01:29.297
And some of the new technology and
analytics have allowed a lot of retailers

00:01:29.297 --> 00:01:31.883
who are really doing well in the space to
localize their assortment.

00:01:32.175 --> 00:01:35.762
I think the last thing is you're
consistently managing costs.

00:01:35.762 --> 00:01:39.057
So understand their cost structure using
the advent of GenAI.

00:01:39.349 --> 00:01:41.309
If retail is not experimenting with that now,

00:01:41.309 --> 00:01:43.311
they should be because it's moving so quickly.

00:01:43.478 --> 00:01:46.773
But it's a great way to drive both
personalization and to drive cost out of

00:01:46.773 --> 00:01:49.317
places where you don't need it.
And to remain competitive,

00:01:49.317 --> 00:01:50.985
that's an important part of winning in retail.

00:01:51.319 --> 00:01:54.155
Where do you see the biggest
opportunities for innovation,

00:01:54.197 --> 00:01:54.572
Jose?

00:01:55.281 --> 00:01:59.911
I think one Nate touched upon,
we need to continue personalizing the

00:01:59.911 --> 00:02:03.081
store offering all the way to the local store.

00:02:03.414 --> 00:02:05.083
And there's a huge opportunity there.

00:02:05.834 --> 00:02:07.168
We need to win on food.

00:02:07.710 --> 00:02:14.050
Food is becoming a huge important concept
on convenience and proximity retail.

00:02:14.300 --> 00:02:20.056
So for us building out and winning value
propositions in food is important.

00:02:20.473 --> 00:02:23.977
And I would say also leveraging our huge
loyalty program.

00:02:24.185 --> 00:02:27.647
We have over 28 million active users in
our loyalty program,

00:02:27.647 --> 00:02:30.400
and that's a huge opportunity too.
As Nate said,

00:02:30.400 --> 00:02:33.069
continue to personalize the value proposition.

00:02:33.528 --> 00:02:36.197
And I might build—given this is Consumer
Goods Forum,

00:02:36.197 --> 00:02:39.659
this is a really important place for the
vendor partners to support.

00:02:39.659 --> 00:02:41.995
I mean, in a lot of markets where,
you know,

00:02:41.995 --> 00:02:46.291
consumers feeling a little more pressure,
they're looking to their vendor partners

00:02:46.291 --> 00:02:50.461
to innovate the assortments and to work
with them to help drive traffic and help

00:02:50.461 --> 00:02:51.045
grow sales.

00:02:51.045 --> 00:02:54.090
So this is a place where, you know,
the consumer goods companies, the vendors,

00:02:54.090 --> 00:02:55.592
can be really important in helping drive

00:02:55.592 --> 00:02:58.219
innovation to make it interesting to shop
the store.

00:02:58.261 --> 00:03:00.096
Thank you so much for your time.