Retail technology of the year.
Speaker AAnn, let's go back to you on this one.
Speaker BOh boy, I was not ready.
Speaker BI will I did cover Jenny I in my last two headlines so I'm going to go away from that this year.
Speaker BSo I have my, my retail technology of the year.
Speaker BYou mentioned it earlier Chris in store robotics.
Speaker BI think you have everything from the robotics that are happening help with automation and picking and back of house we talked about with Dometics Kim Beaudry early on just about how that's really getting smaller and smaller to simbi raising another $500 million to presumably kind of support the expansion for more retailers of tally in stores.
Speaker BEven our visit last week Chris we went to SPS Commerce here in Minneapolis and we went into their DC and that was a really big light bulb moment for me not having spent a ton of time in DCs but just to see the room for error in packing facilities especially when you and I are in charge but really just understanding like this is the real place where robotics you know in the back of of a grocery store or something where they really can help speed things up and make make things safer for the employees that are in the back of house.
Speaker BSo that robots.
Speaker ARobots are my robots is our See I've been saying robots is 2025 an so you're preempting me.
Speaker AYou're kind of coming in early on the robot headline.
Speaker AThat's interest interesting play there my friend.
Speaker AChad, what about you?
Speaker CWell let's go to the envelope.
Speaker CSo let's go to the apology of the year.
Speaker CLet's see what David had to say.
Speaker BDoesn't get old Chad.
Speaker BDoesn't get old.
Speaker CI'm really glad there's like seven more of them so I hope.
Speaker BAll right.
Speaker CInvisible barcodes.
Speaker AOh that was close on my list too.
Speaker BYeah, me too.
Speaker CReally interesting.
Speaker CI mean still, still early stage being piloted.
Speaker CRight.
Speaker CBut I think what digimark and and Walmart have been putting together as a combination in order to speed meet up checkout and you know stem shoplifting as a, as an ancillary benefit could be really really game changing.
Speaker CRight.
Speaker CYou know for, for an n of 1 I still hate self checkout.
Speaker CMy wife can't believe it but like going in and like the the way of scanning every single item at checkout like I actually think a cashier can do it faster than me.
Speaker CRight.
Speaker CIt's the, it's the cue is the only reason I would use it.
Speaker CBut this mechanism to create speediness in that, in that self checkout delivery could really really amplify that and any element in order to be able to, you know, stem that, that theft, loss of people not scanning, holding things in their pocket, whatever, you know, just avoiding everything we can do to lock up the store has the potential to be a real game changer.
Speaker CSo there you go.
Speaker CTech tech announcement of the year.
Speaker AYeah, that's a good one.
Speaker AThat's a good one.
Speaker AIt also has a lot of backroom applications too, as you think about finding product quickly for employees too, over time.
Speaker ASo, yeah, that's an interesting one to keep an eye on.
Speaker AAll right, I'll go next.
Speaker ASo for mine, mine this year was I thought the easy one to do was like a generative AI play, you know, like you could easily do something like that.
Speaker ABut I didn't want to do that either.
Speaker APlus I didn't know the exact application yet, which I think is something we've been talking a lot about on the show.
Speaker AThe retailers don't know exactly what application is the best one yet.
Speaker ASo for me, this one might surprise you.
Speaker A3.
Speaker AI'm going with marketplaces.
Speaker AMarketplace platforms.
Speaker AWalmart is killing it with their marketplace.
Speaker ALike it's driving a ton of their retail media growth.
Speaker AAnd then you saw companies like Lowe's, Macy's, Nordstrom's, they've all started to build their own versions and all for the very same reason.
Speaker ARight.
Speaker AYou can expand the assortment, but it also gets you the ability to scale your retail media ad dollars much more efficiently.
Speaker ASo with all the first party data that retailers have out there, I think you're starting to see that marketplaces are going to be the way that you help scale that retail media effort.
Speaker ASo that's why marketplaces wins for me.
Speaker ADavid, close us out.
Speaker DAll right, so mine dove still is on Chad's shrink is one of the biggest issues retailers are facing today.
Speaker DAnd frankly shrink in many situations is one of the reasons they're closing stores because they just can't control the shrink.
Speaker DAnd when your shrink is higher than your sales, it just becomes untenable.
Speaker DSo this, this technology has not yet been fully rolled out.
Speaker DBut the most effective way to prevent shrink is to lock stuff up.
Speaker DBut locking stuff up is an awful consumer experience.
Speaker DIn comes Walmart with if you have the app and you are a loyalty customer, you can open it yourself.
Speaker DI don't know exactly what it's called.
Speaker DThe loyalty phone unlock for locked up goods in terms of theft prevention is I think the wave of the future, especially in high theft areas and will enable some stores to stay open.
Speaker DIf we get widespread adoption that's my tech.
Speaker AWow.
Speaker AWow.
Speaker ASo you like that idea, David, huh?
Speaker AThat's interesting.
Speaker AAnd just for clarification, too, Walmart so far for those listening is only testing that with employees.
Speaker AThey haven't rolled it out to customers yet, but people are hypothesizing that they could do that.
Speaker ABut, David, you like that from a customer experience standpoint and an overall retail sales standpoint?
Speaker DWell, I think there's just places where you have to lock stuff up.
Speaker DThere's organized retail crime.
Speaker DThe only real way that has been proven to reduce that.
Speaker DYou can't have a security guard.
Speaker DIt is locking this stuff up.
Speaker DSo in a world where that has to happen, I think having an app where the customer can do it themselves rather than wait for someone to come from the back room to do it for them is a much better customer experience.
Speaker DI also think there's a secondary benefit of driving people to your loyalty program, because if you, if you do it once or twice, waiting on someone like suddenly that if it's your corner store or the store that you shop the most, you're incentivized to join their loyalty program.
Speaker DSo I think it's a two prong, reduced sh.
Speaker DShrink, but also drive additional customers to your loyalty plan.
Speaker CYeah.
Speaker AWow.
Speaker AYeah, it's a great.
Speaker AThat's a great, great call because, yeah, we see a lot.
Speaker AWe.
Speaker AAnd I see a lot of companies that are really talking about detection, but prevention is a whole nother ball game.
Speaker ASo you like this on the prevention angle?
Speaker AAll right, Chad, who, Who won.
Speaker AWho won the award here?
Speaker AWho takes home retail technology of the year?
Speaker COh, man.
Speaker CI, I continue to be the.
Speaker AYou guys on your toes today.
Speaker CI mean, I, I like, I like David's of David Brown.
Speaker CAll right, so I'm gonna go with.
Speaker CI'm gonna go with the invisible barcodes.
Speaker BAll right.
Speaker AAll right, Very nice.
Speaker CI love marketplaces, though.
Speaker CThat is not.
Speaker CThat's not an angle that I thought.
Speaker AOf for this question or.
Speaker BI know, I know.
Speaker BThat was a good pick, Chris.