ON TIME. SO HERE TO GIVE US THE
LATEST ON RETAIL IS GREG POOR
TELL HEAD OF CONSUMER AND
RETAIL PRACTICE
AT CARNEY GREG WHY IS AMAZON
LAUNCHING ITS HOLIDAY DEALS.
SO SO SO SO EARLY THIS YEAR.
>> WE'VE HEARD ABOUT THE THE
CHALLENGES THAT EVERY COMPANY
IS HAVING WITH THEIR SUPPLY
CHAINS RIGHT NOW AND IF YOU
THINK ABOUT THE TYPICAL HOLIDAY
RUSH.
YOU HAVE AND TENSE PRESSURE ON
THE SUPPLY CHAINS SO BY
MOVING DEMAND EARLIER THESE
RETAILERS INCLUDING AMAZON ARE
ABLE TO SPACE OUT THE DEMAND
AND CREATE A
LITTLE MORE CONSISTENCY OF
PRODUCT FLOW THROUGH THOSE
SUPPLY CHAINS THEY'RE SO
DELICATE THIS TIME
OF YEAR.
>> NOW WHEN IT COMES TO THESE
BLACK FRIDAY DEALS THAT ARE
AVAILABLE NOW AS A BLACK FRIDAY
SHOPPER IN THE PAST, YOU KNOW
THE DEALS ALWAYS COME OUT LIKE
A WEEK OR 2 EARLIER, BUT THE
BEST DEALS ON THE DOOR BUSTERS
DO YOU THINK AMAZON WILL STILL
PROVIDE THAT GIVEN THE FACT
THAT THERE IS SUPPLY CHAIN
>> I THINK WHAT WE'RE GOING TO
SEE IS.
>> A LOT OF RETAILERS BEING
MUCH MORE.
TARGETED WITH THEIR PERMISSIONS
MEAN THE WHOLE CONCEPT OF BLACK
FRIDAY IS IS KIND OF GOING AWAY
BECAUSE WE DON'T HAVE THAT
SINGULAR SHOPPING AND OR THAT
REALLY DRAWS A LOT OF ATTENTION
BUT AT THE
SAME TIME. RETAILERS KNOW THAT
THEY NEED TO MANAGE THAT
THROUGHPUT AND THE DISCOUNTING
THAT WE SEE THIS TIME OF YEAR,
SO THEY'RE GOING TO BE MUCH
MORE
TARGETED WITH HOW THEY USE
THOSE PROMOTIONS I WOULD EXPECT
TO SEE MORE FLASH PROMOTIONS
AND WE'RE VERY SPECIFIC OFFERS
FROM THESE RETAILERS,
INCLUDING AMAZON.
>> NOW YOU SAY RETAILERS PLAYER
OF ALL RIGHT NOW I THINK AMAZON
I'M SAYING I THINK BECAUSE I
TAKE TARGET IT'S NOTHING
THERE YET. BUT AMAZON IS THE
ONLY ONE PROVIDING THESE BLACK
FRIDAY EARLY DEALS SO MY NEXT
QUESTION IS OTHER RETAILERS ARE
THEY GONNA FOLLOW SUE ARE THEY
GOING TO STICK TO THEIR
SCHEDULE OR WHAT'S GOING TO
HAPPEN.
>> AT THIS POINT THE HOLIDAY
SCHEDULES ARE PRETTY MUCH SET
SO YOU'LL START TO SEE
RETAILERS AREN'T
JUST THERE. THEIR PROMOTION
CAMPAIGNS BASED ON HOW THE
PRODUCTS ARE SELLING.
SO THERE'S REALLY NO INCENTIVE
FOR RETAILERS START DISCOUNTING
PRODUCTS THAT THEY THINK
THEY'RE GOING TO BE ABLE TO
SELL ANYWAY. THE CHALLENGES OF
PULLING FOR THIS DEMAND IS
REALLY SOMETHING WILL START TO
SEE ON A CASE BY CASE BASIS
BASED ON THE INDIVIDUAL
RETAILERS LOCKED IN WITH THE
PLANS ALREADY.
>> SO LET'S TALK ABOUT
INFLATION FOR A SECOND BECAUSE
AS YOU'VE HEARD IN THIS WORLD
IN THE LAST MONTHS YEARS
WHATEVER IT'S BEEN IN
THIS PANDEMIC THE INFLATION IS
TRANSITORY RIGHT SO AS A
SHOPPER I'M DEALING WITH
INFLATION NOW DO I BUY NOW AT A
HIGHER PRICE DO I WAIT TILL
LATER BECAUSE
INFLATION WILL MAYBE GO AWAY
BUT THEN I MIGHT NOT GET MY
PRODUCT IN TIME WHAT ARE YOUR
THOUGHTS.
>> WELL THE INFLATIONARY CYCLE
WE'RE IN NOW IS GOING TO TAKE
ABOUT 12 TO 18 MONTHS TO WORK
THROUGH THE SYSTEM IF YOU THINK
ABOUT THE COST OF MOVING
THIS PROCESS IT'S THROUGH SO
WE'RE TALKING ABOUT HOLIDAY
SHOPPING YOUR BEST TO SHOP NOW
BASED ON THE POTENTIAL SCARCITY
OF
THE PRODUCT. THESE THESE COST
INCREASES THAT RETAILERS AND
CPG COMPANIES AND MANUFACTURERS
FACING ARE REAL COST INCREASES
IT'S GOING TO TAKE AWHILE FOR
THEIR SUPPLY CHAIN SYSTEMS IN
THEIR CARS MANAGEMENT SYSTEMS
TO CATCH UP WITH THAT.
>> NOW LET'S SAY ALL RETAILERS
FOLLOW SUIT TARGET WALMART THE
BIG GUYS START OFFERING THE
SALES ARE WE GOING TO SEE THEM
IN STORE FOR ONLINE ONLY
BECAUSE AGAIN WE'RE STILL IN A
PANDEMIC AND FOLKS DON'T MIGHT
NOT WANT TO GO IN STORE SO WHAT
ARE YOUR THOUGHTS ON THAT.
>> AT THIS POINT MOST OF THE
MAJOR RETAILERS OTHERS ARE
THINKING OF MULTI-CHANNEL
RETAIL. THEY'RE THEY'RE
BASICALLY CHANNEL AGNOSTIC AT
THIS POINT IT'S ALMOST HIM
POSSIBLE TO OFFER A DISCOUNT
INMAN CHANNEL VERSUS ANOTHER SO
THE MORE SOPHISTICATED
RETAILER, RUNNING PROMOTIONAL
CAMPAIGNS ACROSS PLATFORMS
ACROSS CHANNELS. SO IN THAT
CASE YOU'RE GOING TO EXPECT TO
SEE BOTH IN-STORE AND ONLINE
DISCOUNTING AND PROMOTIONS.
>> SO WHEN IT COMES TO THE
PREPARED HOLIDAY SHOPPERS THE
FOLKS WHO REALLY LIKE LACED UP
THEIR SHOES.
>> HAVE HER
LIST READY. THEIR
POWER BARS.
>> THIS IS COMING EARLY FOR
THEM, THEY WERE READY FOR THIS
DO THEY HIT THE GROUND RUNNING
OR DO THEY RE EVALUATE WAIT A
LITTLE BIT TO THE OTHER
RETAILERS ARE DOING THE SAME
WHAT ADVICE DO YOU HAVE FOR
THEM BECAUSE THEY HAVE THEIR
SWEAT AND THEIR HEADBANDS ON
THE READY TO GO.
>> PERHAPS THE HEADBANDS READY
TO GUESTS ARE CLICKING A BUTTON
ON THE MOUSE GOING OUT.
NICK MOGO NOW IT'S GOING NOW,
I'M A BIG HIT. I'M A BIG FAN OF
CONSUMER SPENDING ALWAYS
GIVEN HOW I THINK WHAT
RETAILERS ARE GOING TO BE ABLE
TO DO MUCH MORE EFFECTIVELY IS
LIKE THEM
THAT SUPPLY PROCESS AND THAT
DEMAND THAT CONSUMERS HAVE
YOU'RE GOING TO SEE MUCH MORE
ROBUST HOLIDAY SEASON.
IN PART BECAUSE THE RETAILERS
ARE
STARTING TO PUSH PRODUCTS AND
CREATE THAT IMPOSED BY
A LOT EARLIER IN THE CYCLE
SERIOUSLY A VERY HEALTHY
HEALTHY SPENDING CYCLE FROM
CONSUMERS WHICH MEANS YOU
SHOULD PROBABLY GET OUT NOW AND
START LOOKING FOR DISCOUNTS.
>> I MY LAST QUESTION FOR YOU
IS THE RETAIL INDUSTRY AS A
WHOLE IS STILL STRUGGLING HAS
THERE BEEN GAINS LOSSES, WHAT'S
IT LIKE.
>> WHITE WHO HAS BEEN A
MISCONCEPTION THAT RETAIL IS
POOR BECAUSE WE SAW CONSUMER
SPENDING CONTINUE TO RISE AND
IT'S BEEN HEALTHY THROUGHOUT
THAT PANDEMIC THAT THE
CHALLENGES BEEN
BAD RETAIL I STRUGGLED AND WHAT
RETAILERS HAVE DONE OVER THE
COURSE OF THE PANDEMIC IS
REALLY REINVENT HOW
THEY ENGAGE CONSUMERS SO IT'S A
LITTLE BIT LIKE A FOREST FIRE
THAT CUTS THROUGH THE FOREST
AND AND TAKES OUT ALL THE
DEBT WOULD. AND NOW YOU'RE
STARTING TO SEE A REBIRTH OF
INTERESTING CONCEPTS
INTERESTING WAYS TO
ENGAGE CONSUMERS AND A MORE
VIBRANT AND HEALTHY RETAIL
SYSTEM SO I WOULD SAY THAT IT
WAS NECESSARILY BAD BEFORE,
BUT WE'RE DEFINITELY SEEING A
NEW AGE OF RETAIL COMING TO
COME INTO EXISTENCE.