{"id":8518,"date":"2023-02-05T03:00:37","date_gmt":"2023-02-05T03:00:37","guid":{"rendered":"https:\/\/dmsretail.com\/RetailNews\/jason-scot-show-episode-302-kasey-lobaugh-deloitte-chief-futurist-buying-into-better\/"},"modified":"2023-02-05T03:00:37","modified_gmt":"2023-02-05T03:00:37","slug":"jason-scot-show-episode-302-kasey-lobaugh-deloitte-chief-futurist-buying-into-better","status":"publish","type":"post","link":"https:\/\/dmsretail.com\/RetailNews\/jason-scot-show-episode-302-kasey-lobaugh-deloitte-chief-futurist-buying-into-better\/","title":{"rendered":"Jason &#038; Scot Show Episode 302 Kasey Lobaugh, Deloitte Chief Futurist, Buying into Better"},"content":{"rendered":"<p> <p><a href=\"https:\/\/dmsretail.com\/online-workshops-list\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-496\" src=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png\" alt=\"Retail Online Training\" width=\"729\" height=\"91\" srcset=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png 729w, https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90-300x37.png 300w\" sizes=\"auto, (max-width: 729px) 100vw, 729px\" \/><\/a><\/p><br \/>\n<\/p>\n<div>\n<p>A weekly podcast with the latest e-commerce news and events. Episode 302 is an interview with Kasey Lobaugh, Chief Futurist, Consumer Industry, Principal and Owner at Deloitte, as he discusses new research, Buying into Better: The future of the consumer industry.<\/p>\n<p> <span id=\"more-28929\"\/><\/p>\n<p><meta charset=\"utf-8\"\/><strong>Subscribe<\/strong>:<\/p>\n<figure><iframe loading=\"lazy\" style=\"border: none;\" src=\"http:\/\/html5-player.libsyn.com\/embed\/episode\/id\/25793277\/height\/360\/width\/640\/theme\/standard-mini\/autoplay\/no\/autonext\/no\/thumbnail\/yes\/preload\/no\/no_addthis\/no\/direction\/backward\/no-cache\/true\/\" width=\"640\" height=\"360\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">?<\/span><span style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" data-mce-type=\"bookmark\" class=\"mce_SELRES_start\">?<\/span><span style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" data-mce-type=\"bookmark\" class=\"mce_SELRES_start\">?<\/span><span style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" data-mce-type=\"bookmark\" class=\"mce_SELRES_start\">?<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">?<\/span><\/iframe><\/figure>\n<p>Deloitte Chief Futurist, Consumer Industry, Principal and Owner, Kasey Lobaugh, joins the podcast for his fifth appearance. Having previously appeared on episodes 68, 114, 180, 213.<\/p>\n<p>Deloitte has published some new new research, Buying in to Better: The future of the consumer industry, in which they uncover dramatic change in the consumer industry that over the next decade will impact the markets, models, and mechanics of consumer industry companies in significant ways.<\/p>\n<p>Also discussed The rise of digital goods and services: Opportunity over threat, and a monthly consumer tracker: Consumer behavior trends state of the consumer tracker | Deloitte Insights<\/p>\n<p><strong>Don\u2019t forget to like our\u00a0facebook page, and if you enjoyed this episode please write us a review on itunes.<\/strong><\/p>\n<p>Episode 303 of the Jason &amp; Scot show was recorded on <span style=\"font-weight: 400;\">Wednesday, January 25th, 2023.<\/span><\/p>\n<h2 id=\"chapter\">Transcript<\/h2>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[0:23]<\/small>\u00a0<span title=\"0:23 - 0:25\" data-start=\"00:00:23.135\" data-end=\"00:00:25.425\" data-spk=\"0\" data-label=\"Jason\">Welcome to the Jason and Scot show<\/span><br \/><span title=\"0:25 - 0:39\" data-start=\"00:00:25.401\" data-end=\"00:00:38.795\" data-spk=\"0\" data-label=\"Jason\">this is episode 302 being recorded on Wednesday January 25th 2023 I\u2019m your host Jason \u201cRetailgeek\u201d Goldberg and as usual I\u2019m here with your co-host Scot Wingo.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[0:39]<\/small>\u00a0<span title=\"0:39 - 0:51\" data-start=\"00:00:38.705\" data-end=\"00:00:50.801\" data-spk=\"1\" data-label=\"Scot\">Hey Jason and welcome back Jason Scott show listeners Jason we have a very special guest today first of all this is a exclusive first look so some big<\/span><br \/><span title=\"0:51 - 1:04\" data-start=\"00:00:50.609\" data-end=\"00:01:03.750\" data-spk=\"1\" data-label=\"Scot\">new industry Trend data were revealing on the show from one of our favorite guests for a long time lister\u2019s I\u2019m going to kind of tease you with a bit of a riddle he\u2019s been here for episode 68 114 180<\/span><br \/><span title=\"1:04 - 1:10\" data-start=\"00:01:03.595\" data-end=\"00:01:10.487\" data-spk=\"1\" data-label=\"Scot\">2:13 and now back 4302 that\u2019s five episodes his title is interesting<\/span><br \/><span title=\"1:10 - 1:16\" data-start=\"00:01:10.433\" data-end=\"00:01:15.841\" data-spk=\"1\" data-label=\"Scot\">principal and chief futurist consumer industry Deloitte Consulting LLP<\/span><br \/><span title=\"1:16 - 1:32\" data-start=\"00:01:15.643\" data-end=\"00:01:31.590\" data-spk=\"1\" data-label=\"Scot\">and Jason I know you lured the length of your title over everyone in the industry but I\u2019ve done the math your Chief Commerce strategy officer that\u2019s four words this guest has principle I took and out because it doesn\u2019t really count,<\/span><br \/><span title=\"1:32 - 1:39\" data-start=\"00:01:31.645\" data-end=\"00:01:39.330\" data-spk=\"1\" data-label=\"Scot\">Chief futurist S3 consumer industry that\u2019s five so he beats you in Tidal length as well<\/span><br \/><span title=\"1:39 - 1:42\" data-start=\"00:01:39.138\" data-end=\"00:01:42.317\" data-spk=\"1\" data-label=\"Scot\">ladies and gentlemen welcome back to the show Kasey lobaugh.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[1:43]<\/small>\u00a0<span title=\"1:43 - 1:45\" data-start=\"00:01:43.351\" data-end=\"00:01:45.129\" data-spk=\"2\" data-label=\"Kasey\">Hey Scott Jason how are you guys.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[1:46]<\/small>\u00a0<span title=\"1:46 - 1:51\" data-start=\"00:01:46.271\" data-end=\"00:01:51.108\" data-spk=\"0\" data-label=\"Jason\">We are awesome except for you dethroning me for most verbose title.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[1:51]<\/small>\u00a0<span title=\"1:51 - 1:59\" data-start=\"00:01:51.210\" data-end=\"00:01:58.866\" data-spk=\"2\" data-label=\"Kasey\">Yeah actually before we created that title I went on LinkedIn and looked yours up and did the math so thank you for that.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[1:59]<\/small>\u00a0<span title=\"1:59 - 2:01\" data-start=\"00:01:58.866\" data-end=\"00:02:01.221\" data-spk=\"1\" data-label=\"Scot\">I need 25% More Than Jake.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[2:02]<\/small>\u00a0<span title=\"2:02 - 2:13\" data-start=\"00:02:02.447\" data-end=\"00:02:13.287\" data-spk=\"0\" data-label=\"Jason\">Well we normally don\u2019t let Scott do public math on the show so I do have an intern fact-checking the titles but I had sounded right and then the other intern is on chat gbt right now writing a new title for me.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[2:13]<\/small>\u00a0<span title=\"2:13 - 2:16\" data-start=\"00:02:13.095\" data-end=\"00:02:16.064\" data-spk=\"2\" data-label=\"Kasey\">That\u2019s perfect that\u2019s a good call.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[2:16]<\/small>\u00a0<span title=\"2:16 - 2:25\" data-start=\"00:02:16.130\" data-end=\"00:02:25.450\" data-spk=\"0\" data-label=\"Jason\">Yeah but speaking of unfair check things Casey I believe it is the case that five-time guest is a show record so congratulations on that.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[2:25]<\/small>\u00a0<span title=\"2:25 - 2:29\" data-start=\"00:02:25.222\" data-end=\"00:02:28.574\" data-spk=\"2\" data-label=\"Kasey\">Great where do I pick up my parting gift.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[2:29]<\/small>\u00a0<span title=\"2:29 - 2:31\" data-start=\"00:02:29.074\" data-end=\"00:02:31.303\" data-spk=\"1\" data-label=\"Scot\">The interns will send that to.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[2:31]<\/small>\u00a0<span title=\"2:31 - 2:33\" data-start=\"00:02:31.003\" data-end=\"00:02:32.923\" data-spk=\"2\" data-label=\"Kasey\">I\u2019ll look for it.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[2:33]<\/small>\u00a0<span title=\"2:33 - 2:35\" data-start=\"00:02:33.010\" data-end=\"00:02:34.818\" data-spk=\"0\" data-label=\"Jason\">Yeah you have to part before you get.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[2:35]<\/small>\u00a0<span title=\"2:35 - 2:44\" data-start=\"00:02:34.568\" data-end=\"00:02:43.561\" data-spk=\"2\" data-label=\"Kasey\">That\u2019s right that\u2019s right well thanks I appreciate you guys having me back on again you know after the first four times I thought maybe the fifth time maybe I\u2019d get it right.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[2:45]<\/small>\u00a0<span title=\"2:45 - 3:00\" data-start=\"00:02:44.541\" data-end=\"00:03:00.386\" data-spk=\"1\" data-label=\"Scot\">Absolutely one I don\u2019t know if I\u2019ve ever mentioned this but the so one of your first visits you talked about the changing consumer and the great bifurcation and that played a big role in me starting spiffy so we<\/span><br \/><span title=\"3:00 - 3:05\" data-start=\"00:03:00.207\" data-end=\"00:03:04.743\" data-spk=\"1\" data-label=\"Scot\">whenever I pitch spiffy I talk to potential investors and partners about<\/span><br \/><span title=\"3:05 - 3:14\" data-start=\"00:03:04.581\" data-end=\"00:03:13.835\" data-spk=\"1\" data-label=\"Scot\">you know we are really focused on the convenience or any consumer and then they say do you have any research on that and I say well actually do and then I afford them the<\/span><br \/><span title=\"3:14 - 3:23\" data-start=\"00:03:13.721\" data-end=\"00:03:23.251\" data-spk=\"1\" data-label=\"Scot\">the cherished copy of that that OG material you guys put out there on that that\u2019s been a huge huge impact on me and starting a company so.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[3:23]<\/small>\u00a0<span title=\"3:23 - 3:33\" data-start=\"00:03:23.101\" data-end=\"00:03:32.679\" data-spk=\"2\" data-label=\"Kasey\">Oh that\u2019s amazing that\u2019s very that\u2019s amazing hopefully in our new work maybe you\u2019ll discover some new opportunities maybe start two or three more companies guy.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[3:47]<\/small>\u00a0<span title=\"3:47 - 4:04\" data-start=\"00:03:47.167\" data-end=\"00:04:04.022\" data-spk=\"0\" data-label=\"Jason\">So Casey obviously most of our longtime listeners are going to be familiar with you but for the new listeners can you give us the the quick synopsis of your background and how you came into what I think is now a new role for you at Deloitte.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[4:04]<\/small>\u00a0<span title=\"4:04 - 4:17\" data-start=\"00:04:04.203\" data-end=\"00:04:16.678\" data-spk=\"2\" data-label=\"Kasey\">Yeah it\u2019s a new role but it\u2019s also an evolution even Scott you know was mentioning the research we had done before and you\u2019ll see that a lot of what we\u2019ll talk about here Builds on the things we had done before but just just for background,<\/span><br \/><span title=\"4:17 - 4:21\" data-start=\"00:04:16.756\" data-end=\"00:04:21.401\" data-spk=\"2\" data-label=\"Kasey\">I think I\u2019ve been at Deloitte now coming up on 27 years,<\/span><br \/><span title=\"4:22 - 4:28\" data-start=\"00:04:21.539\" data-end=\"00:04:27.650\" data-spk=\"2\" data-label=\"Kasey\">and and really the vast majority of the time that I\u2019ve been at delete I\u2019ve served in the retail industry.<\/span><br \/><span title=\"4:28 - 4:38\" data-start=\"00:04:27.891\" data-end=\"00:04:37.625\" data-spk=\"2\" data-label=\"Kasey\">First launching you know our e-commerce practice back in the early 2000s and then building our omni-channel strategy practice Within retailgeek.<\/span><br \/><span title=\"4:38 - 4:49\" data-start=\"00:04:37.806\" data-end=\"00:04:48.544\" data-spk=\"2\" data-label=\"Kasey\">And then most recently I\u2019ve taken on this role on behalf of our firm knows it was somewhat reluctant and I\u2019ll talk about that in a minute but the role is to think about the future of the industry.<\/span><br \/><span title=\"4:49 - 4:52\" data-start=\"00:04:48.700\" data-end=\"00:04:52.167\" data-spk=\"2\" data-label=\"Kasey\">And to think about the broader.<\/span><br \/><span title=\"4:52 - 5:06\" data-start=\"00:04:52.360\" data-end=\"00:05:06.186\" data-spk=\"2\" data-label=\"Kasey\">Collection of consumer sector so we will we talk a lot about retail but this includes Airlines consumer products Hospitality Auto you know the broad collection of the ways that consumers spend their discretionary<\/span><br \/><span title=\"5:06 - 5:09\" data-start=\"00:05:06.121\" data-end=\"00:05:08.536\" data-spk=\"2\" data-label=\"Kasey\">their discretionary cash.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[5:10]<\/small>\u00a0<span title=\"5:10 - 5:18\" data-start=\"00:05:10.147\" data-end=\"00:05:18.108\" data-spk=\"0\" data-label=\"Jason\">It\u2019s fascinating and I think in the great tradition of corporate America you didn\u2019t get to shed any of your old responsibilities as you took on the new ones is that true.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[5:18]<\/small>\u00a0<span title=\"5:18 - 5:21\" data-start=\"00:05:17.808\" data-end=\"00:05:21.365\" data-spk=\"2\" data-label=\"Kasey\">That is true that it just just Stacks up.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[5:21]<\/small>\u00a0<span title=\"5:21 - 5:23\" data-start=\"00:05:21.456\" data-end=\"00:05:23.336\" data-spk=\"0\" data-label=\"Jason\">Other duties as assigned.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[5:23]<\/small>\u00a0<span title=\"5:23 - 5:36\" data-start=\"00:05:23.132\" data-end=\"00:05:35.685\" data-spk=\"2\" data-label=\"Kasey\">Yeah I know I look I\u2019ll talk a lot about the work that we\u2019re doing here today but I do you know continue I have been serving clients and I continue to serve clients alongside that the duties the research the work that we\u2019re going to talk about here today.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[5:36]<\/small>\u00a0<span title=\"5:36 - 5:39\" data-start=\"00:05:36.076\" data-end=\"00:05:39.284\" data-spk=\"1\" data-label=\"Scot\">But now that you have two jobs you make twice as much right.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[5:39]<\/small>\u00a0<span title=\"5:39 - 5:41\" data-start=\"00:05:39.255\" data-end=\"00:05:41.454\" data-spk=\"2\" data-label=\"Kasey\">That\u2019s right.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[5:41]<\/small>\u00a0<span title=\"5:41 - 5:45\" data-start=\"00:05:41.364\" data-end=\"00:05:45.438\" data-spk=\"1\" data-label=\"Scot\">Cool let\u2019s let\u2019s jump into this new research so<\/span><br \/><span title=\"5:45 - 6:03\" data-start=\"00:05:45.252\" data-end=\"00:06:03.441\" data-spk=\"1\" data-label=\"Scot\">you know it\u2019s the the future of the consumer industry and you\u2019ve got you know you\u2019re you\u2019re nice enough to share a draft with Jason died and we\u2019ve read through all that and there\u2019s there\u2019s probably six hours of conversation we could have its kind of both deep and wide<\/span><br \/><span title=\"6:03 - 6:12\" data-start=\"00:06:03.285\" data-end=\"00:06:11.571\" data-spk=\"1\" data-label=\"Scot\">so maybe for listeners talk a little bit about the origin of the research the purpose and maybe a high level and then we can kind of pick where we want to dig in.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[6:12]<\/small>\u00a0<span title=\"6:12 - 6:13\" data-start=\"00:06:11.505\" data-end=\"00:06:12.683\" data-spk=\"2\" data-label=\"Kasey\">Yeah sure thing<\/span><br \/><span title=\"6:13 - 6:22\" data-start=\"00:06:12.605\" data-end=\"00:06:21.600\" data-spk=\"2\" data-label=\"Kasey\">sure thing well first of all we like to think that we as a firm a really good with our clients you know helping them to navigate the next two three four years<\/span><br \/><span title=\"6:21 - 6:30\" data-start=\"00:06:21.402\" data-end=\"00:06:29.778\" data-spk=\"2\" data-label=\"Kasey\">but we also were sensing that there are a series of things going on happening in the environment and questions coming at us from our clients that were a bit longer,<\/span><br \/><span title=\"6:30 - 6:39\" data-start=\"00:06:29.911\" data-end=\"00:06:39.093\" data-spk=\"2\" data-label=\"Kasey\">you know in time Horizon sort of recognizing that there\u2019s a series of things that perhaps are happening that may sort of radically impact<\/span><br \/><span title=\"6:39 - 6:46\" data-start=\"00:06:39.021\" data-end=\"00:06:46.358\" data-spk=\"2\" data-label=\"Kasey\">the next decade of our industry and so you know our leaders sort of convened and said you know we should,<\/span><br \/><span title=\"6:46 - 6:55\" data-start=\"00:06:46.424\" data-end=\"00:06:54.518\" data-spk=\"2\" data-label=\"Kasey\">dedicate some amount of time to throw thinking across a longer time Horizon and so for us we picked a 10 year time Horizon<\/span><br \/><span title=\"6:54 - 7:02\" data-start=\"00:06:54.476\" data-end=\"00:07:01.933\" data-spk=\"2\" data-label=\"Kasey\">and so we started to talk about doing some work about the future now you guys know me I\u2019m somewhat of a contrarian.<\/span><\/p>\n<p><small>[7:02]<\/small>\u00a0<span title=\"7:02 - 7:10\" data-start=\"00:07:02.066\" data-end=\"00:07:09.841\" data-spk=\"2\" data-label=\"Kasey\">And Frank they look back in history of you know reports that are titled the future of by the way you can go Google,<\/span><br \/><span title=\"7:10 - 7:17\" data-start=\"00:07:09.950\" data-end=\"00:07:16.667\" data-spk=\"2\" data-label=\"Kasey\">the word the future of in you\u2019ll find literally you know Millions if not billions of hits on Google with those words,<\/span><br \/><span title=\"7:17 - 7:29\" data-start=\"00:07:16.740\" data-end=\"00:07:29.130\" data-spk=\"2\" data-label=\"Kasey\">and historically what I found was that many of those you know efforts those research they tended to be prophecy based or prediction based and honestly if you go back in time and a lot of them really are not that good<\/span><br \/><span title=\"7:29 - 7:33\" data-start=\"00:07:29.125\" data-end=\"00:07:33.186\" data-spk=\"2\" data-label=\"Kasey\">and therefore I was contrarian saying look I don\u2019t want to do that I don\u2019t want to be part of,<\/span><br \/><span title=\"7:33 - 7:42\" data-start=\"00:07:33.265\" data-end=\"00:07:41.743\" data-spk=\"2\" data-label=\"Kasey\">of making a set of predictions and yeah I can go back in 1999 I remember report in 1999 that said RFID is the future of the retail industry.<\/span><\/p>\n<p><small>[7:42]<\/small>\u00a0<span title=\"7:42 - 7:47\" data-start=\"00:07:42.092\" data-end=\"00:07:46.893\" data-spk=\"2\" data-label=\"Kasey\">And here we are you know still not a material part of the industry,<\/span><br \/><span title=\"7:47 - 8:01\" data-start=\"00:07:46.989\" data-end=\"00:08:01.315\" data-spk=\"2\" data-label=\"Kasey\">ten years ago you remember this magic mirrors of the future of the department store anyway so you know over time you see a lot of those things and so as we talked about it I was the contrary instead I don\u2019t think we should do this and Leadership said great,<\/span><br \/><span title=\"8:01 - 8:03\" data-start=\"00:08:01.369\" data-end=\"00:08:02.865\" data-spk=\"2\" data-label=\"Kasey\">you get to do it,<\/span><br \/><span title=\"8:03 - 8:16\" data-start=\"00:08:02.974\" data-end=\"00:08:15.748\" data-spk=\"2\" data-label=\"Kasey\">so I get the assignment but I actually think there\u2019s a reason behind that the reason was is because I was a contrarian P because I was pessimistic about the idea of doing it and they are leadership thought maybe we would take a different approach.<\/span><\/p>\n<p><small>[8:16]<\/small>\u00a0<span title=\"8:16 - 8:25\" data-start=\"00:08:16.127\" data-end=\"00:08:24.978\" data-spk=\"2\" data-label=\"Kasey\">And honestly that\u2019s where I started I asked myself how would we go about this in a way that would be different than predictions and prophecies,<\/span><br \/><span title=\"8:25 - 8:33\" data-start=\"00:08:25.087\" data-end=\"00:08:33.355\" data-spk=\"2\" data-label=\"Kasey\">you know how would we go about it in a way that I could actually be proud of what we what we\u2019ve come up with and what you\u2019ll hear when we talk about this is that what we haven\u2019t done.<\/span><br \/><span title=\"8:34 - 8:40\" data-start=\"00:08:33.584\" data-end=\"00:08:39.653\" data-spk=\"2\" data-label=\"Kasey\">Is made predictions what we haven\u2019t done is made prophecies what we have done is research deeply,<\/span><br \/><span title=\"8:40 - 8:51\" data-start=\"00:08:39.653\" data-end=\"00:08:50.703\" data-spk=\"2\" data-label=\"Kasey\">the things that are happening in our environment I\u2019ll say environment very broadly that we believe are converging forces that will shape the next decade,<\/span><br \/><span title=\"8:51 - 8:57\" data-start=\"00:08:50.734\" data-end=\"00:08:56.580\" data-spk=\"2\" data-label=\"Kasey\">of our industry and so part of that also was how are we going to go about it,<\/span><br \/><span title=\"8:57 - 9:10\" data-start=\"00:08:56.641\" data-end=\"00:09:10.149\" data-spk=\"2\" data-label=\"Kasey\">you know previously like even Scott the research that you referred to earlier the great retail bifurcation it was myself and a few other practitioners we got together and we thought through and did the work this time I said I want to do it differently.<\/span><br \/><span title=\"9:10 - 9:16\" data-start=\"00:09:10.323\" data-end=\"00:09:15.725\" data-spk=\"2\" data-label=\"Kasey\">And so we went about convening a group of professionals experts,<\/span><br \/><span title=\"9:16 - 9:29\" data-start=\"00:09:15.804\" data-end=\"00:09:28.903\" data-spk=\"2\" data-label=\"Kasey\">that would be informative to the process in fact as we sit here today we\u2019ve now involved over 800 professionals industry experts luminaries academics major industry trade groups,<\/span><br \/><span title=\"9:29 - 9:37\" data-start=\"00:09:28.987\" data-end=\"00:09:36.558\" data-spk=\"2\" data-label=\"Kasey\">you know have all participated either through workshops or a series of interviews and our ability to convene this kind of group,<\/span><br \/><span title=\"9:37 - 9:43\" data-start=\"00:09:36.679\" data-end=\"00:09:43.445\" data-spk=\"2\" data-label=\"Kasey\">as input and helping us to shape this was really I\u2019d say is differentiated from anything that we\u2019ve done in the past.<\/span><\/p>\n<p><small>[9:44]<\/small>\u00a0<span title=\"9:44 - 9:49\" data-start=\"00:09:43.938\" data-end=\"00:09:49.117\" data-spk=\"2\" data-label=\"Kasey\">And then of course we also have our deloitte\u2019s Global state of the consumer tracker.<\/span><br \/><span title=\"9:49 - 9:59\" data-start=\"00:09:49.472\" data-end=\"00:09:59.207\" data-spk=\"2\" data-label=\"Kasey\">Where we post consumers on a monthly basis across 24 countries to better understand behaviors and intentions and that was part of this as well.<\/span><br \/><span title=\"10:00 - 10:10\" data-start=\"00:09:59.507\" data-end=\"00:10:09.813\" data-spk=\"2\" data-label=\"Kasey\">And so the whole intention of this process was broad inclusive thorough wide and differentiating a differentiating perspectives in really generational input.<\/span><br \/><span title=\"10:10 - 10:17\" data-start=\"00:10:10.222\" data-end=\"00:10:16.687\" data-spk=\"2\" data-label=\"Kasey\">And out of that came what we call the six forces shaping the future of the industry,<\/span><br \/><span title=\"10:17 - 10:25\" data-start=\"00:10:16.814\" data-end=\"00:10:25.112\" data-spk=\"2\" data-label=\"Kasey\">no there were literally hundred or more individual things that were happening that the group raised<\/span><br \/><span title=\"10:25 - 10:30\" data-start=\"00:10:25.040\" data-end=\"00:10:29.558\" data-spk=\"2\" data-label=\"Kasey\">instead this is important now what\u2019s interesting is there\u2019s no no one person<\/span><br \/><span title=\"10:29 - 10:42\" data-start=\"00:10:29.451\" data-end=\"00:10:41.528\" data-spk=\"2\" data-label=\"Kasey\">had the complete view you know the art The Economist wanted to talk about the things that they knew we had people who are sociologists they talked about the things they knew people in Auto talk about the things they knew but what we were able to do is really.<\/span><br \/><span title=\"10:42 - 10:54\" data-start=\"00:10:41.932\" data-end=\"00:10:54.009\" data-spk=\"2\" data-label=\"Kasey\">Collect this information organized it will organize those hundred or so things under what we call the six forces and then we went about doing the research to deeply understand those things,<\/span><br \/><span title=\"10:54 - 11:03\" data-start=\"00:10:54.148\" data-end=\"00:11:03.450\" data-spk=\"2\" data-label=\"Kasey\">so the first component is really the six horses and then we proceeded to think about the implications of those forces along three dimensions.<\/span><br \/><span title=\"11:04 - 11:11\" data-start=\"00:11:03.919\" data-end=\"00:11:10.829\" data-spk=\"2\" data-label=\"Kasey\">The First Dimension is markets and that\u2019s what\u2019s being sold who\u2019s it being sold to how are we creating value.<\/span><\/p>\n<p><small>[11:11]<\/small>\u00a0<span title=\"11:11 - 11:19\" data-start=\"00:11:11.346\" data-end=\"00:11:19.121\" data-spk=\"2\" data-label=\"Kasey\">The second component of that was models what are the new business models how will business models change over the next decade and finally mechanics.<\/span><br \/><span title=\"11:19 - 11:24\" data-start=\"00:11:19.266\" data-end=\"00:11:23.832\" data-spk=\"2\" data-label=\"Kasey\">They really is operating model how are how are we changing in terms of how we.<\/span><br \/><span title=\"11:24 - 11:31\" data-start=\"00:11:24.073\" data-end=\"00:11:30.502\" data-spk=\"2\" data-label=\"Kasey\">Deploy labor how we think about operational decisions and really just the execution of the business,<\/span><br \/><span title=\"11:31 - 11:39\" data-start=\"00:11:30.629\" data-end=\"00:11:39.119\" data-spk=\"2\" data-label=\"Kasey\">so that\u2019s really the two primary assets that come out six forces research and then what we call the 3m\u2019s or the implications upon the industry.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[11:41]<\/small>\u00a0<span title=\"11:41 - 11:52\" data-start=\"00:11:40.718\" data-end=\"00:11:51.781\" data-spk=\"1\" data-label=\"Scot\">Cool why don\u2019t you take us through the 64 forces at kind of a high level and maybe a little blurb on each just so we kind of know you know mentally where they fit in in the world.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[11:52]<\/small>\u00a0<span title=\"11:52 - 11:55\" data-start=\"00:11:51.781\" data-end=\"00:11:55.134\" data-spk=\"2\" data-label=\"Kasey\">Yeah perfect so as I mentioned like,<\/span><br \/><span title=\"11:55 - 12:09\" data-start=\"00:11:55.254\" data-end=\"00:12:08.960\" data-spk=\"2\" data-label=\"Kasey\">100 or so things roll up to these six forces the first of which is really the changing consumer now you mentioned that Scott we had done some research in that previously around how is the consumer really changing well we were able to take that one and go much deeper.<\/span><br \/><span title=\"12:09 - 12:17\" data-start=\"00:12:09.141\" data-end=\"00:12:16.628\" data-spk=\"2\" data-label=\"Kasey\">Of course changes you know the changing consumer you know includes things like increased racial and ethnic diversity.<\/span><br \/><span title=\"12:17 - 12:26\" data-start=\"00:12:16.815\" data-end=\"00:12:26.441\" data-spk=\"2\" data-label=\"Kasey\">Changing sexuality and gender identity aging longevity shifting geographies it wealth inequality and generational wealth inequality.<\/span><br \/><span title=\"12:27 - 12:36\" data-start=\"00:12:26.622\" data-end=\"00:12:36.025\" data-spk=\"2\" data-label=\"Kasey\">Those are the kinds of things that begin to make up the changing consumer and each one of those we\u2019ve done deep research on but that consumer also operates Within,<\/span><br \/><span title=\"12:36 - 12:44\" data-start=\"00:12:36.158\" data-end=\"00:12:43.729\" data-spk=\"2\" data-label=\"Kasey\">a shifting society and culture and so under society and culture you see things like delayed or declining marriage.<\/span><br \/><span title=\"12:44 - 12:54\" data-start=\"00:12:44.048\" data-end=\"00:12:53.836\" data-spk=\"2\" data-label=\"Kasey\">Delayed or declining homeownership certainly declining birth rates here in the US as well as most major developed economies.<\/span><\/p>\n<p><small>[12:54]<\/small>\u00a0<span title=\"12:54 - 12:59\" data-start=\"00:12:54.263\" data-end=\"00:12:58.908\" data-spk=\"2\" data-label=\"Kasey\">There\u2019s things that have to do with education and the education gaps are declining,<\/span><br \/><span title=\"12:59 - 13:11\" data-start=\"00:12:59.040\" data-end=\"00:13:11.088\" data-spk=\"2\" data-label=\"Kasey\">subscription to religion those sorts of things live under society and culture and of course many of those things I just mentioned Define us as who we are as consumers as people and win<\/span><br \/><span title=\"13:11 - 13:17\" data-start=\"00:13:10.987\" data-end=\"00:13:17.103\" data-spk=\"2\" data-label=\"Kasey\">and what sort of purchase do we make when do we make those purchases Etc but what you begin to see already is,<\/span><br \/><span title=\"13:17 - 13:26\" data-start=\"00:13:17.194\" data-end=\"00:13:26.393\" data-spk=\"2\" data-label=\"Kasey\">I\u2019ll say a theme of increased diversity that starting to really show up and we can come back to that idea but I use diversity here along multiple,<\/span><br \/><span title=\"13:26 - 13:37\" data-start=\"00:13:26.454\" data-end=\"00:13:36.561\" data-spk=\"2\" data-label=\"Kasey\">Dimensions to sort of talk about this Mosaic of consumers and behaviors that are starting to really become clear but then we move on to what we call exponential,<\/span><br \/><span title=\"13:37 - 13:45\" data-start=\"00:13:36.627\" data-end=\"00:13:44.829\" data-spk=\"2\" data-label=\"Kasey\">extech now what do I mean by extech well most of us in the industry you know when we think about technology likely think about infotech.<\/span><\/p>\n<p><small>[13:45]<\/small>\u00a0<span title=\"13:45 - 13:50\" data-start=\"00:13:45.298\" data-end=\"00:13:49.745\" data-spk=\"2\" data-label=\"Kasey\">But the reality is there\u2019s a broad set of technologies that are all moving,<\/span><br \/><span title=\"13:50 - 13:57\" data-start=\"00:13:49.889\" data-end=\"00:13:57.154\" data-spk=\"2\" data-label=\"Kasey\">you know and maturing it very rapid rates and converging so not only is it infotech but it\u2019s biotech,<\/span><br \/><span title=\"13:57 - 14:09\" data-start=\"00:13:57.172\" data-end=\"00:14:09.124\" data-spk=\"2\" data-label=\"Kasey\">it\u2019s Material Science its Sciences it relates to space you know and other Technologies as well that are advancing that usually fall outside of what you know our purview might normally be for,<\/span><br \/><span title=\"14:09 - 14:16\" data-start=\"00:14:09.178\" data-end=\"00:14:15.632\" data-spk=\"2\" data-label=\"Kasey\">infotech then the fourth category is what we call radical industry upheaval.<\/span><\/p>\n<p><small>[14:17]<\/small>\u00a0<span title=\"14:17 - 14:21\" data-start=\"00:14:16.533\" data-end=\"00:14:21.136\" data-spk=\"2\" data-label=\"Kasey\">And really if you begin to dig in there you see real declining Financial Health.<\/span><br \/><span title=\"14:21 - 14:28\" data-start=\"00:14:21.497\" data-end=\"00:14:28.028\" data-spk=\"2\" data-label=\"Kasey\">You know at the Top Line the consumer spending has been growing at about 3.6 percent kegger.<\/span><br \/><span title=\"14:28 - 14:40\" data-start=\"00:14:28.311\" data-end=\"00:14:40.353\" data-spk=\"2\" data-label=\"Kasey\">Over a 10-year period the vast majority of traditional clients would love to have a 3.6% kegger growth over 10 years so the consumer appears to be healthier than many of the players in the industry.<\/span><br \/><span title=\"14:41 - 14:52\" data-start=\"00:14:40.612\" data-end=\"00:14:52.173\" data-spk=\"2\" data-label=\"Kasey\">We also see declining barriers to entry a shift from products to services and a whole collection of other things that really begin to impact the industry the health of the industry Etc.<\/span><\/p>\n<p><small>[14:53]<\/small>\u00a0<span title=\"14:53 - 14:57\" data-start=\"00:14:52.858\" data-end=\"00:14:56.547\" data-spk=\"2\" data-label=\"Kasey\">And of course all of this operates within extreme climate and planet.<\/span><br \/><span title=\"14:57 - 15:09\" data-start=\"00:14:56.716\" data-end=\"00:15:09.407\" data-spk=\"2\" data-label=\"Kasey\">Three you know we\u2019d be remiss if we didn\u2019t talk about global warming rising sea levels DeForest deforestation natural disasters things like that that certainly have us on a dire trajectory.<\/span><br \/><span title=\"15:10 - 15:18\" data-start=\"00:15:09.762\" data-end=\"00:15:18.102\" data-spk=\"2\" data-label=\"Kasey\">But there\u2019s also some signs of Hope here too as that you know natural green energy is now cheaper per kilowatt hour.<\/span><br \/><span title=\"15:18 - 15:27\" data-start=\"00:15:18.385\" data-end=\"00:15:27.326\" data-spk=\"2\" data-label=\"Kasey\">Then petroleum-based energy or coal-based energy and that\u2019s actually a good Tipping Point so there\u2019s some there\u2019s some good news on that front too now.<\/span><br \/><span title=\"15:28 - 15:36\" data-start=\"00:15:27.801\" data-end=\"00:15:36.159\" data-spk=\"2\" data-label=\"Kasey\">The issue for our industry though is that we\u2019re going to be we\u2019re about 3.5 billion consumers globally we\u2019re going to be adding another 2 billion.<\/span><br \/><span title=\"15:37 - 15:39\" data-start=\"00:15:36.520\" data-end=\"00:15:38.869\" data-spk=\"2\" data-label=\"Kasey\">Another two billion in the next decade.<\/span><br \/><span title=\"15:39 - 15:48\" data-start=\"00:15:39.020\" data-end=\"00:15:48.316\" data-spk=\"2\" data-label=\"Kasey\">So we\u2019re already on a dire trajectory Yad 22 billion additional consumers by the way over 80% of those will be in Asia and you have to begin to look at what,<\/span><br \/><span title=\"15:48 - 15:56\" data-start=\"00:15:48.430\" data-end=\"00:15:55.641\" data-spk=\"2\" data-label=\"Kasey\">you know how that slope of that line increases and what do we do differently our industry produces 60%.<\/span><br \/><span title=\"15:56 - 16:04\" data-start=\"00:15:55.857\" data-end=\"00:16:04.486\" data-spk=\"2\" data-label=\"Kasey\">Of the greenhouse gases that are produced by any industry and so adding additional 2 billion consumers really amplifies that dire trajectory.<\/span><\/p>\n<p><small>[16:05]<\/small>\u00a0<span title=\"16:05 - 16:09\" data-start=\"00:16:04.991\" data-end=\"00:16:09.167\" data-spk=\"2\" data-label=\"Kasey\">And finally shifting economics policy and Power,<\/span><br \/><span title=\"16:09 - 16:23\" data-start=\"00:16:09.252\" data-end=\"00:16:23.378\" data-spk=\"2\" data-label=\"Kasey\">because the whole industry operates within those dimensions of geopolitics and local politics changing monetary policy you know power and and power structures and there\u2019s some real,<\/span><br \/><span title=\"16:23 - 16:32\" data-start=\"00:16:23.451\" data-end=\"00:16:31.803\" data-spk=\"2\" data-label=\"Kasey\">there\u2019s some real changes happening there we\u2019re we see you know our aversion to nationalism we see these things like reshoring happening for production work<\/span><br \/><span title=\"16:32 - 16:35\" data-start=\"00:16:31.732\" data-end=\"00:16:34.573\" data-spk=\"2\" data-label=\"Kasey\">political extremism polarization,<\/span><br \/><span title=\"16:35 - 16:49\" data-start=\"00:16:34.706\" data-end=\"00:16:49.001\" data-spk=\"2\" data-label=\"Kasey\">there\u2019s some issues around immigration the difference between how important it is for us as a country versus some of the political positions in trends that we see around resistance to immigration within the country anyway all of these things matter.<\/span><br \/><span title=\"16:49 - 17:04\" data-start=\"00:16:49.362\" data-end=\"00:17:03.669\" data-spk=\"2\" data-label=\"Kasey\">And all of these six forces you know are converging colliding coming together and so you sort of have to have this broad understanding of the forces in order to begin to ask okay what happens when you bring these forces together.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[17:04]<\/small>\u00a0<span title=\"17:04 - 17:09\" data-start=\"00:17:04.457\" data-end=\"00:17:08.585\" data-spk=\"1\" data-label=\"Scot\">So for listeners that are that\u2019s a lot to chew on so.<\/span><br \/><span title=\"17:09 - 17:21\" data-start=\"00:17:08.880\" data-end=\"00:17:20.879\" data-spk=\"1\" data-label=\"Scot\">So you know and we as I mentioned there\u2019s no way we\u2019re going to cover even you know like more than one or two of the six and then the underlying pieces our listeners are largely in the retailgeek<\/span><br \/><span title=\"17:21 - 17:29\" data-start=\"00:17:20.760\" data-end=\"00:17:29.028\" data-spk=\"1\" data-label=\"Scot\">e-commerce world if you were to kind of cherry pick you know a couple of these to dive into and you know with a<\/span><br \/><span title=\"17:29 - 17:35\" data-start=\"00:17:28.920\" data-end=\"00:17:34.706\" data-spk=\"1\" data-label=\"Scot\">a mind towards some action ability and you know where where would you start.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[17:36]<\/small>\u00a0<span title=\"17:36 - 17:39\" data-start=\"00:17:35.788\" data-end=\"00:17:38.792\" data-spk=\"2\" data-label=\"Kasey\">Yeah so I started on this word diversity,<\/span><br \/><span title=\"17:39 - 17:53\" data-start=\"00:17:38.853\" data-end=\"00:17:53.052\" data-spk=\"2\" data-label=\"Kasey\">and I\u2019m going to I\u2019m going to pause there for a minute because the way I\u2019m using the word has multiple Dimensions to it and sometimes that when we talk about diversity sometimes people think about racial or ethnic diversity which certainly is a component here and it matters,<\/span><br \/><span title=\"17:53 - 18:03\" data-start=\"00:17:53.166\" data-end=\"00:18:02.642\" data-spk=\"2\" data-label=\"Kasey\">you know for example if you looked at the data and if you got out to The Cutting Edge and it just let\u2019s just compare for a minute the baby boomer generation was 75 percent White.<\/span><\/p>\n<p><small>[18:03]<\/small>\u00a0<span title=\"18:03 - 18:18\" data-start=\"00:18:03.460\" data-end=\"00:18:17.683\" data-spk=\"2\" data-label=\"Kasey\">Meanwhile the Gen Z is 52 percent white with 25% identifying as Hispanic so just there just between those two generations there\u2019s a stark difference in terms of the diversity on that one dimension,<\/span><br \/><span title=\"18:18 - 18:27\" data-start=\"00:18:17.732\" data-end=\"00:18:26.667\" data-spk=\"2\" data-label=\"Kasey\">Now by 2044 is projected that most of the US population will be non-white and meanwhile those identifying as 2 plus races we\u2019re will nearly double.<\/span><br \/><span title=\"18:27 - 18:32\" data-start=\"00:18:27.040\" data-end=\"00:18:31.762\" data-spk=\"2\" data-label=\"Kasey\">Now when you couple with that another dimension of diversity,<\/span><br \/><span title=\"18:32 - 18:40\" data-start=\"00:18:31.889\" data-end=\"00:18:39.911\" data-spk=\"2\" data-label=\"Kasey\">you know aging and Longevity let\u2019s talk about that for a second because there\u2019s a real change that\u2019s happening over the next decade on that front as well.<\/span><br \/><span title=\"18:40 - 18:48\" data-start=\"00:18:40.211\" data-end=\"00:18:47.704\" data-spk=\"2\" data-label=\"Kasey\">So if you go back in time and you look at the Aging of the population what you see is a real dramatic increase from the 70s until<\/span><br \/><span title=\"18:48 - 18:58\" data-start=\"00:18:47.621\" data-end=\"00:18:57.535\" data-spk=\"2\" data-label=\"Kasey\">until today there\u2019s already been a dramatic increase you know moving from the 20s into into the late 30s as the average age of a citizen in the United States<\/span><br \/><span title=\"18:57 - 19:07\" data-start=\"00:18:57.446\" data-end=\"00:19:06.693\" data-spk=\"2\" data-label=\"Kasey\">soon we\u2019ll be at place where we\u2019ve got more people over 60 then we have under 18 to real Tipping Point in addition to that we\u2019ve got.<\/span><\/p>\n<p><small>[19:07]<\/small>\u00a0<span title=\"19:07 - 19:15\" data-start=\"00:19:07.336\" data-end=\"00:19:14.775\" data-spk=\"2\" data-label=\"Kasey\">Real scientific breakthroughs that are happening daily it seems like that have the potential to really increase longevity.<\/span><br \/><span title=\"19:15 - 19:22\" data-start=\"00:19:15.328\" data-end=\"00:19:21.722\" data-spk=\"2\" data-label=\"Kasey\">And so when you put those things together we\u2019re talking about increased diversity needs wants,<\/span><br \/><span title=\"19:22 - 19:35\" data-start=\"00:19:21.764\" data-end=\"00:19:35.494\" data-spk=\"2\" data-label=\"Kasey\">desires along a lot of different dimensions you couple with that wealth inequality the great retail bifurcation Scott that we mentioned before and it just means that there\u2019s a broader Mosaic one of the things I like to talk about often is that our industry,<\/span><br \/><span title=\"19:36 - 19:40\" data-start=\"00:19:35.585\" data-end=\"00:19:39.875\" data-spk=\"2\" data-label=\"Kasey\">was built for Mass not for a mosaic.<\/span><br \/><span title=\"19:40 - 19:51\" data-start=\"00:19:40.044\" data-end=\"00:19:51.491\" data-spk=\"2\" data-label=\"Kasey\">And there\u2019s this movement afoot from Mass to micro and what the changing consumer and changing society and culture tell me is that that movement will only accelerate in the coming decade.<\/span><br \/><span title=\"19:52 - 19:57\" data-start=\"00:19:51.671\" data-end=\"00:19:56.556\" data-spk=\"2\" data-label=\"Kasey\">So how do you think about that shift from Mass to micro how do you build.<\/span><br \/><span title=\"19:57 - 20:05\" data-start=\"00:19:56.977\" data-end=\"00:20:04.614\" data-spk=\"2\" data-label=\"Kasey\">Your business to be able to execute from Mass to micro and of course in the e-commerce world that\u2019s probably not that.<\/span><br \/><span title=\"20:05 - 20:19\" data-start=\"00:20:04.915\" data-end=\"00:20:19.084\" data-spk=\"2\" data-label=\"Kasey\">You know it\u2019s not that advanced to sort of think about things like personalization but I think it goes much deeper than that when you really think about Mass to micro we\u2019re actually talking about you know how do you create an assortment That Matters to.<\/span><\/p>\n<p><small>[20:20]<\/small>\u00a0<span title=\"20:20 - 20:29\" data-start=\"00:20:19.674\" data-end=\"00:20:29.330\" data-spk=\"2\" data-label=\"Kasey\">You know to the right group of people how do you build a brand so the explosion of Brands channels formats all of that is happening around us.<\/span><br \/><span title=\"20:29 - 20:37\" data-start=\"00:20:29.474\" data-end=\"00:20:36.865\" data-spk=\"2\" data-label=\"Kasey\">And what we\u2019ve got to do is we\u2019ve got to figure out how do you compete and how do you get ahead of that you know if you look at some of the data just around.<\/span><br \/><span title=\"20:37 - 20:40\" data-start=\"00:20:37.082\" data-end=\"00:20:39.924\" data-spk=\"2\" data-label=\"Kasey\">Gender identity there\u2019s data that says.<\/span><br \/><span title=\"20:40 - 20:49\" data-start=\"00:20:40.423\" data-end=\"00:20:49.033\" data-spk=\"2\" data-label=\"Kasey\">In the coming decade and I think this was a Gallup poll they said that one in four gyms ears globally.<\/span><br \/><span title=\"20:49 - 20:53\" data-start=\"00:20:49.364\" data-end=\"00:20:52.909\" data-spk=\"2\" data-label=\"Kasey\">Believe that they\u2019ll change their gender identity once in their lifetime.<\/span><\/p>\n<p><small>[20:54]<\/small>\u00a0<span title=\"20:54 - 21:04\" data-start=\"00:20:54.202\" data-end=\"00:21:04.333\" data-spk=\"2\" data-label=\"Kasey\">Okay so now if you play that out you think about the coming decade think about the traditional department store that organizes themselves by here\u2019s the men\u2019s department and here\u2019s the women\u2019s Department.<\/span><br \/><span title=\"21:05 - 21:19\" data-start=\"00:21:04.664\" data-end=\"00:21:19.397\" data-spk=\"2\" data-label=\"Kasey\">What we\u2019re seeing is this Mosaic of how you identify Mosaic of this diversity and how we have to think about appealing to smaller and smaller you know audiences is really going to be Amplified if you really look at the data around the consumer and society and culture,<\/span><br \/><span title=\"21:19 - 21:25\" data-start=\"00:21:19.488\" data-end=\"00:21:24.769\" data-spk=\"2\" data-label=\"Kasey\">and I actually think that\u2019s really actionable today in a mass.<\/span><br \/><span title=\"21:25 - 21:32\" data-start=\"00:21:25.022\" data-end=\"00:21:31.920\" data-spk=\"2\" data-label=\"Kasey\">Environment we have a value chain where we make big at scale decisions and most of those decisions are made by humans.<\/span><br \/><span title=\"21:33 - 21:36\" data-start=\"00:21:32.558\" data-end=\"00:21:36.211\" data-spk=\"2\" data-label=\"Kasey\">As you move down into more and more granular execution.<\/span><br \/><span title=\"21:36 - 21:50\" data-start=\"00:21:36.464\" data-end=\"00:21:49.623\" data-spk=\"2\" data-label=\"Kasey\">It becomes very difficult to execute in the same way so we actually have to begin to lean on new ways to operate that\u2019s where Predictive Analytics comes in automation comes in and all of those I believe are very actionable<\/span><br \/><span title=\"21:50 - 21:55\" data-start=\"00:21:49.617\" data-end=\"00:21:54.719\" data-spk=\"2\" data-label=\"Kasey\">as we sit here today so hopefully Scott that was at least a highlight of one of the things that jumps out at me.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[21:56]<\/small>\u00a0<span title=\"21:56 - 22:00\" data-start=\"00:21:55.915\" data-end=\"00:21:59.796\" data-spk=\"0\" data-label=\"Jason\">Wow you know it\u2019s funny because that mask to micro thing<\/span><br \/><span title=\"22:00 - 22:15\" data-start=\"00:21:59.785\" data-end=\"00:22:14.561\" data-spk=\"0\" data-label=\"Jason\">comes up in a number of our shows we talk about it sometimes in the context of like she in that there\u2019s sort of you know this old model where you know Mickey Drexler at the Gap would you no tell everyone what the cool clothes to wear is and GAP would sell a ton of that.<\/span><br \/><span title=\"22:15 - 22:22\" data-start=\"00:22:14.843\" data-end=\"00:22:22.469\" data-spk=\"0\" data-label=\"Jason\">That outfit and that the you know the interesting part of Sheehan is that they don\u2019t sell a ton of anything that they you know,<\/span><br \/><span title=\"22:23 - 22:33\" data-start=\"00:22:22.523\" data-end=\"00:22:32.504\" data-spk=\"0\" data-label=\"Jason\">identify that Mosaic of consumer bases and make a you know small batches of a lot of different stuff to sell the all those different people.<\/span><br \/><span title=\"22:33 - 22:41\" data-start=\"00:22:32.787\" data-end=\"00:22:40.532\" data-spk=\"0\" data-label=\"Jason\">And it is funny I was doing an interview with a fashion reporter earlier today and she was asking me about the future of a.<\/span><br \/><span title=\"22:41 - 22:49\" data-start=\"00:22:40.767\" data-end=\"00:22:48.818\" data-spk=\"0\" data-label=\"Jason\">A athleisure company she was interested in and I sort of talked about that that trend from Mass to micro and she she thought I was from Mars.<\/span><\/p>\n<p><small>[22:50]<\/small>\u00a0<span title=\"22:50 - 23:00\" data-start=\"00:22:50.087\" data-end=\"00:22:59.995\" data-spk=\"0\" data-label=\"Jason\">Um and that brings up like one of my first questions about the research because you know I read the research I have a couple macro questions I want to ask but the.<\/span><br \/><span title=\"23:00 - 23:09\" data-start=\"00:23:00.404\" data-end=\"00:23:08.810\" data-spk=\"0\" data-label=\"Jason\">One of the things I always struggle with when I think about the future is trying to get the timing right and.<\/span><br \/><span title=\"23:09 - 23:16\" data-start=\"00:23:09.027\" data-end=\"00:23:15.673\" data-spk=\"0\" data-label=\"Jason\">Like I distinctly remember early in my career I worked at Blockbuster entertainment and we were trying to do video on demand like.<\/span><br \/><span title=\"23:16 - 23:25\" data-start=\"00:23:15.944\" data-end=\"00:23:24.530\" data-spk=\"0\" data-label=\"Jason\">Ten years before Netflix was invented and we had all these technical problems and we partnered with IBM IBM brought in this Chief scientist and he\u2019s like<\/span><br \/><span title=\"23:25 - 23:33\" data-start=\"00:23:24.525\" data-end=\"00:23:32.576\" data-spk=\"0\" data-label=\"Jason\">don\u2019t worry about any of those storage problems because there\u2019s this new technology called the Blue laser in the blue laser is going to solve all these storage problems and.<\/span><br \/><span title=\"23:33 - 23:38\" data-start=\"00:23:32.721\" data-end=\"00:23:38.279\" data-spk=\"0\" data-label=\"Jason\">Like the only problem was the blue laser was 10 years away from being invented and so it,<\/span><br \/><span title=\"23:38 - 23:52\" data-start=\"00:23:38.370\" data-end=\"00:23:51.685\" data-spk=\"0\" data-label=\"Jason\">it did and other inventions solve solve that storage problem but not in the time Horizon we had right and and so there was part of me that felt bad like you know I\u2019m talking to this reporter about that mask to micro-trend but like,<\/span><br \/><span title=\"23:52 - 23:57\" data-start=\"00:23:51.764\" data-end=\"00:23:57.111\" data-spk=\"0\" data-label=\"Jason\">is that really going to happen to athleisure fast enough that is relevant to her article.<\/span><br \/><span title=\"23:58 - 24:03\" data-start=\"00:23:57.659\" data-end=\"00:24:02.862\" data-spk=\"0\" data-label=\"Jason\">Seems really hard to predict like did you guys when you were doing all these interviews.<\/span><br \/><span title=\"24:03 - 24:11\" data-start=\"00:24:03.205\" data-end=\"00:24:10.794\" data-spk=\"0\" data-label=\"Jason\">Did you did you try to think about the dimension of time or how did you think about the dimension of of time in some of these transformations.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[24:11]<\/small>\u00a0<span title=\"24:11 - 24:20\" data-start=\"00:24:10.668\" data-end=\"00:24:19.826\" data-spk=\"2\" data-label=\"Kasey\">You know I love that question I want to answer it in two different ways the first is you know when we talk about Mass to micro I want to separate the idea that the market.<\/span><\/p>\n<p><small>[24:20]<\/small>\u00a0<span title=\"24:20 - 24:33\" data-start=\"00:24:20.343\" data-end=\"00:24:33.496\" data-spk=\"2\" data-label=\"Kasey\">Is already moving Mass to micro whether or not you know individual companies are okay so if you took that athleisure wear and you said okay let me go find the niche brands that are already appealing to you know,<\/span><br \/><span title=\"24:34 - 24:44\" data-start=\"00:24:33.623\" data-end=\"00:24:44.487\" data-spk=\"2\" data-label=\"Kasey\">Niche micro segments on you know on whatever their favorite social media platform is you\u2019re going to discover some I could tell you I\u2019ve got a 16 to 17 year old in my house and I\u2019ve discovered,<\/span><br \/><span title=\"24:45 - 24:55\" data-start=\"00:24:44.614\" data-end=\"00:24:54.822\" data-spk=\"2\" data-label=\"Kasey\">new in particular athleisure wear brands that are appealing to them you know my son goes to the gym and there\u2019s there\u2019s these gym brands that have come up so I what I like to say is whether or not<\/span><br \/><span title=\"24:55 - 25:04\" data-start=\"00:24:54.685\" data-end=\"00:25:04.131\" data-spk=\"2\" data-label=\"Kasey\">you do you think Master micro is viable for your company I would say the market is already moving that late second of all I\u2019d say actually if you looked at the vast majority of the big,<\/span><br \/><span title=\"25:04 - 25:09\" data-start=\"00:25:04.197\" data-end=\"00:25:09.106\" data-spk=\"2\" data-label=\"Kasey\">is look at the big retailers they\u2019re already moving down this path they may just not know it.<\/span><br \/><span title=\"25:09 - 25:24\" data-start=\"00:25:09.281\" data-end=\"00:25:23.822\" data-spk=\"2\" data-label=\"Kasey\">You know I talked about the explosion of Brands channels formats service models that\u2019s already happening you know pick your favorite you know large retailer and recognize that the word omni-channel you know inherently means optionality,<\/span><br \/><span title=\"25:24 - 25:36\" data-start=\"00:25:23.889\" data-end=\"00:25:35.708\" data-spk=\"2\" data-label=\"Kasey\">picking up curbside is optionally all of that is optionality now the problem for most of those companies have been there pursuing Mass to micro but they\u2019re still trying to use a mass operating model,<\/span><br \/><span title=\"25:36 - 25:45\" data-start=\"00:25:35.799\" data-end=\"00:25:44.716\" data-spk=\"2\" data-label=\"Kasey\">to execute micro and some of that you know it begins to show up in the financials pretty significantly now let me go to another another.<\/span><\/p>\n<p><small>[25:45]<\/small>\u00a0<span title=\"25:45 - 25:52\" data-start=\"00:25:44.945\" data-end=\"00:25:52.125\" data-spk=\"2\" data-label=\"Kasey\">Mention here are another way to respond to your question because it definitely came up and it really the conversation about the metaverse<\/span><br \/><span title=\"25:52 - 26:06\" data-start=\"00:25:52.041\" data-end=\"00:26:05.790\" data-spk=\"2\" data-label=\"Kasey\">this is the this is the one that I try and avoid but I\u2019m actually going to put it on the table and tell you how I think about it because this very reason of like is it real when we\u2019ll be Regal will we all wear goggles you know I don\u2019t believe it I do believe it whatever that you know,<\/span><br \/><span title=\"26:06 - 26:07\" data-start=\"00:26:05.862\" data-end=\"00:26:07.124\" data-spk=\"2\" data-label=\"Kasey\">that position is.<\/span><br \/><span title=\"26:07 - 26:17\" data-start=\"00:26:07.364\" data-end=\"00:26:17.093\" data-spk=\"2\" data-label=\"Kasey\">What we did is we said well let\u2019s look at this and you guys will appreciate this from our days back you know together on the board of directors that shot dot-org I always tell the stories about this because,<\/span><br \/><span title=\"26:17 - 26:27\" data-start=\"00:26:17.201\" data-end=\"00:26:27.086\" data-spk=\"2\" data-label=\"Kasey\">whether or not you know we\u2019re going to wear goggles I\u2019m not going to talk about I\u2019m not going to predict it I don\u2019t know when it might happen but I do know and we just released a report this week.<\/span><br \/><span title=\"26:27 - 26:33\" data-start=\"00:26:27.405\" data-end=\"00:26:32.854\" data-spk=\"2\" data-label=\"Kasey\">From our future of the consumer industry work around the growth of digital goods and services.<\/span><\/p>\n<p><small>[26:33]<\/small>\u00a0<span title=\"26:33 - 26:48\" data-start=\"00:26:33.179\" data-end=\"00:26:48.075\" data-spk=\"2\" data-label=\"Kasey\">So we assess already that digital goods and services by this by the way I don\u2019t mean digital access to physical goods and services actual digital goods and services now you know equates for about 3%.<\/span><br \/><span title=\"26:48 - 26:50\" data-start=\"00:26:48.280\" data-end=\"00:26:49.740\" data-spk=\"2\" data-label=\"Kasey\">Of the consumers wallets,<\/span><br \/><span title=\"26:50 - 27:03\" data-start=\"00:26:49.885\" data-end=\"00:27:02.617\" data-spk=\"2\" data-label=\"Kasey\">day three percent that may not seem like that much until you realize that apparel is around 3% and consumer electronics is around 3% now if you look at it that way it\u2019s actually a significant number already.<\/span><br \/><span title=\"27:03 - 27:10\" data-start=\"00:27:02.852\" data-end=\"00:27:10.189\" data-spk=\"2\" data-label=\"Kasey\">And you know if when or where a RV are any of those things really began to take off that number will only accelerate.<\/span><br \/><span title=\"27:10 - 27:19\" data-start=\"00:27:10.490\" data-end=\"00:27:19.461\" data-spk=\"2\" data-label=\"Kasey\">So what I try and do the say hey let\u2019s not argue about the form factor let\u2019s not argue about let\u2019s focus on what\u2019s real and what\u2019s real today is revenue,<\/span><br \/><span title=\"27:19 - 27:27\" data-start=\"00:27:19.461\" data-end=\"00:27:26.708\" data-spk=\"2\" data-label=\"Kasey\">real Revenue that\u2019s already flowing now the issue today is that the vast majority of that revenue flowing to digital goods and services,<\/span><br \/><span title=\"27:27 - 27:40\" data-start=\"00:27:26.780\" data-end=\"00:27:39.777\" data-spk=\"2\" data-label=\"Kasey\">is not flowing to any of our you know what I would call traditional consumer industry companies so consumer spending beginning to fragment way flowing to new goods and services it will only accelerate.<\/span><br \/><span title=\"27:40 - 27:49\" data-start=\"00:27:40.042\" data-end=\"00:27:48.905\" data-spk=\"2\" data-label=\"Kasey\">You know once my equation back when I equate it back to our shop that org days was you remember when most people were offline.<\/span><br \/><span title=\"27:49 - 27:58\" data-start=\"00:27:49.194\" data-end=\"00:27:57.630\" data-spk=\"2\" data-label=\"Kasey\">And then when their office had high speed internet they\u2019d show up in the show up at their office and they suddenly be online and that\u2019s that was the.<\/span><\/p>\n<p><small>[27:58]<\/small>\u00a0<span title=\"27:58 - 28:07\" data-start=\"00:27:58.214\" data-end=\"00:28:06.686\" data-spk=\"2\" data-label=\"Kasey\">The Genesis of cyber monday right and so I use that to say look there was a period of time where most people weren\u2019t online and then suddenly they were and,<\/span><br \/><span title=\"28:07 - 28:15\" data-start=\"00:28:06.801\" data-end=\"00:28:14.678\" data-spk=\"2\" data-label=\"Kasey\">and that accelerated sales and the same things true today most of us spend most of our time not you know wearing a headset,<\/span><br \/><span title=\"28:15 - 28:23\" data-start=\"00:28:14.793\" data-end=\"00:28:23.043\" data-spk=\"2\" data-label=\"Kasey\">you know at the point in time where that actually becomes real that number will only accelerate so anyway so I try and have a different conversation.<\/span><br \/><span title=\"28:23 - 28:28\" data-start=\"00:28:23.356\" data-end=\"00:28:28.078\" data-spk=\"2\" data-label=\"Kasey\">And try and demonstrate where and how you can track what is real about it.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[28:29]<\/small>\u00a0<span title=\"28:29 - 28:34\" data-start=\"00:28:29.425\" data-end=\"00:28:34.262\" data-spk=\"0\" data-label=\"Jason\">Yeah the digital grids example was great and it\u2019s funny because I<\/span><br \/><span title=\"28:34 - 28:40\" data-start=\"00:28:34.226\" data-end=\"00:28:40.385\" data-spk=\"0\" data-label=\"Jason\">as soon as I read that like I jumped into my Department of Commerce data I\u2019m saying like what other categories are like<\/span><br \/><span title=\"28:40 - 28:49\" data-start=\"00:28:40.331\" data-end=\"00:28:49.344\" data-spk=\"0\" data-label=\"Jason\">similar order of magnitude and yeah it\u2019s a it\u2019s a bunch of giant industries that we spent a lot of time and and it is it is interesting because,<\/span><br \/><span title=\"28:49 - 28:57\" data-start=\"00:28:49.441\" data-end=\"00:28:56.970\" data-spk=\"0\" data-label=\"Jason\">digital Goods to me is this new label you don\u2019t hear people talking about it that much but there are lots of other labels that have like digital in front of them.<\/span><\/p>\n<p><small>[28:57]<\/small>\u00a0<span title=\"28:57 - 29:07\" data-start=\"00:28:57.409\" data-end=\"00:29:06.651\" data-spk=\"0\" data-label=\"Jason\">Sort of feels like the label is expiring because the distinction no longer matters right so you know we all started in an e-commerce and today it\u2019s really more.<\/span><br \/><span title=\"29:07 - 29:21\" data-start=\"00:29:06.843\" data-end=\"00:29:20.778\" data-spk=\"0\" data-label=\"Jason\">Commerce the in the industrial revolution they used to call factories electric factories to differentiate them from the ones that ran on Steam right and today it\u2019s just factories like I wonder if we\u2019re going to go through this whole evolution,<\/span><br \/><span title=\"29:21 - 29:30\" data-start=\"00:29:20.905\" data-end=\"00:29:29.870\" data-spk=\"0\" data-label=\"Jason\">where there\u2019s this this new product called digital goods and eventually we\u2019re not going to care about the distinction between the physical Goods in the digital ones and you know will be,<\/span><br \/><span title=\"29:30 - 29:36\" data-start=\"00:29:29.990\" data-end=\"00:29:36.005\" data-spk=\"0\" data-label=\"Jason\">3D printing digital goods and all this other stuff it\u2019s fascinating to think about the future which of course your,<\/span><br \/><span title=\"29:36 - 29:50\" data-start=\"00:29:36.138\" data-end=\"00:29:49.730\" data-spk=\"0\" data-label=\"Jason\">your report like instantly took my mind to but one of my big questions reading the whole report in aggregate is there\u2019s some really positive optimistic things about the future in here but there\u2019s also a lot of.<\/span><br \/><span title=\"29:50 - 29:58\" data-start=\"00:29:50.049\" data-end=\"00:29:57.818\" data-spk=\"0\" data-label=\"Jason\">Negative things and I\u2019m curious like in the aggregate did you I\u2019ll confess I read it and I felt a little depressed like I.<\/span><br \/><span title=\"29:58 - 30:08\" data-start=\"00:29:58.191\" data-end=\"00:30:07.510\" data-spk=\"0\" data-label=\"Jason\">And I like am I a typical in that regard like like is there is there a way in which this is a slightly Bleak future or am I just.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[30:08]<\/small>\u00a0<span title=\"30:08 - 30:10\" data-start=\"00:30:07.914\" data-end=\"00:30:09.511\" data-spk=\"2\" data-label=\"Kasey\">No I think I.<\/span><br \/><span title=\"30:10 - 30:21\" data-start=\"00:30:10.239\" data-end=\"00:30:21.271\" data-spk=\"2\" data-label=\"Kasey\">No I think it\u2019s a good good observation and actually it\u2019s part of the question like here\u2019s a really interesting thing we had this workshops where we had these professionals you know from our industry join in and there\u2019d be two tables.<\/span><br \/><span title=\"30:22 - 30:32\" data-start=\"00:30:21.584\" data-end=\"00:30:32.070\" data-spk=\"2\" data-label=\"Kasey\">They\u2019d all be presented with the same information in one table would would decide that the future is dystopian and dark and they\u2019re very worried about where this is all heading.<\/span><br \/><span title=\"30:32 - 30:37\" data-start=\"00:30:32.419\" data-end=\"00:30:37.063\" data-spk=\"2\" data-label=\"Kasey\">The second table have the same exact information and decide that there\u2019s a utopian future.<\/span><br \/><span title=\"30:37 - 30:52\" data-start=\"00:30:37.316\" data-end=\"00:30:52.122\" data-spk=\"2\" data-label=\"Kasey\">And within this you know actually as a ton of possibility and and you know great progress right now the question you know if I was to predict I\u2019d have to say okay which one of those Futures is the right one and the reality is they\u2019re both,<\/span><br \/><span title=\"30:52 - 31:01\" data-start=\"00:30:52.236\" data-end=\"00:31:00.769\" data-spk=\"2\" data-label=\"Kasey\">possible they\u2019re both pot like when you dig into the state of you realize both the YouTube utopian future and dystopian future are possible so then the real question is.<\/span><br \/><span title=\"31:01 - 31:02\" data-start=\"00:31:00.932\" data-end=\"00:31:02.331\" data-spk=\"2\" data-label=\"Kasey\">What\u2019s the difference.<\/span><br \/><span title=\"31:03 - 31:13\" data-start=\"00:31:02.584\" data-end=\"00:31:12.577\" data-spk=\"2\" data-label=\"Kasey\">And that\u2019s really where I love you know we\u2019ve headed to say the difference has to do with the choices that we will make in the coming years that guide us one direction or another.<\/span><br \/><span title=\"31:13 - 31:21\" data-start=\"00:31:12.848\" data-end=\"00:31:20.923\" data-spk=\"2\" data-label=\"Kasey\">In fact we refer to our report in our whole effort as what we call buying into better because there\u2019s a lot of change in fact there\u2019s.<\/span><br \/><span title=\"31:21 - 31:27\" data-start=\"00:31:21.110\" data-end=\"00:31:27.317\" data-spk=\"2\" data-label=\"Kasey\">There\u2019s more change that I see that it\u2019s going to hit us in the next decade I\u2019ll make the last decade pale in comparison.<\/span><\/p>\n<p><small>[31:28]<\/small>\u00a0<span title=\"31:28 - 31:36\" data-start=\"00:31:27.828\" data-end=\"00:31:35.706\" data-spk=\"2\" data-label=\"Kasey\">And those changes are up against some real challenges with trust and planet and privacy that we have to Grapple with.<\/span><br \/><span title=\"31:36 - 31:47\" data-start=\"00:31:35.892\" data-end=\"00:31:47.423\" data-spk=\"2\" data-label=\"Kasey\">And we actually have to buy into better meaning as consumers we have to be smart and make the right choices but also as Executives as owners of capital you know as Citizens we have to play a part,<\/span><br \/><span title=\"31:47 - 31:50\" data-start=\"00:31:47.496\" data-end=\"00:31:49.707\" data-spk=\"2\" data-label=\"Kasey\">and we actually have to you know help,<\/span><br \/><span title=\"31:50 - 32:01\" data-start=\"00:31:49.803\" data-end=\"00:32:01.136\" data-spk=\"2\" data-label=\"Kasey\">ensure that we\u2019re making the right decisions as we\u2019re navigating through to take us to the right utopian future you know I believe there is a utopian future I believe that we collectively just think about the audience here,<\/span><br \/><span title=\"32:01 - 32:16\" data-start=\"00:32:01.263\" data-end=\"00:32:15.816\" data-spk=\"2\" data-label=\"Kasey\">on your podcast the agency that we collectively have Deloitte is a massive firm where a massive firm with a lot of influence and we look at buying into better as our own North Star as well what role will we play.<\/span><br \/><span title=\"32:16 - 32:24\" data-start=\"00:32:15.979\" data-end=\"00:32:24.211\" data-spk=\"2\" data-label=\"Kasey\">So I think it\u2019s the right question is it utopian or dystopian but really what\u2019s more important are what are the choices and what role are we all going to play,<\/span><br \/><span title=\"32:24 - 32:27\" data-start=\"00:32:24.295\" data-end=\"00:32:26.590\" data-spk=\"2\" data-label=\"Kasey\">in making sure that we\u2019re navigating that future.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[32:28]<\/small>\u00a0<span title=\"32:28 - 32:35\" data-start=\"00:32:27.793\" data-end=\"00:32:35.015\" data-spk=\"0\" data-label=\"Jason\">That that is totally fair I\u2019ll be excited to hear your answer on that the<\/span><br \/><span title=\"32:35 - 32:46\" data-start=\"00:32:34.992\" data-end=\"00:32:46.336\" data-spk=\"0\" data-label=\"Jason\">the other thing that really jumped out at me like we\u2019ve known each other for a while and I\u2019m sort of a fan of your thought process and I like the fact that you tend to be a little cynical and I,<\/span><br \/><span title=\"32:46 - 32:53\" data-start=\"00:32:46.361\" data-end=\"00:32:52.820\" data-spk=\"0\" data-label=\"Jason\">I suspect I probably am to the I don\u2019t suspect I know but the.<\/span><br \/><span title=\"32:53 - 33:08\" data-start=\"00:32:53.013\" data-end=\"00:33:07.626\" data-spk=\"0\" data-label=\"Jason\">I\u2019ll confess I do this this presentation quite a bit where I debunked disruption where I talked about how I everybody always thinks like that whatever they\u2019re working on is the biggest disruption in the history of mankind and that you know every little thing is some,<\/span><br \/><span title=\"33:08 - 33:13\" data-start=\"00:33:07.639\" data-end=\"00:33:12.578\" data-spk=\"0\" data-label=\"Jason\">when unique inflection point in human history and how like.<\/span><br \/><span title=\"33:13 - 33:23\" data-start=\"00:33:12.909\" data-end=\"00:33:23.046\" data-spk=\"0\" data-label=\"Jason\">Most of them aren\u2019t that relevant in the in the overall scheme of things and so and so then you know I read your study in there we\u2019re talking about all these things that are sort of,<\/span><br \/><span title=\"33:23 - 33:31\" data-start=\"00:33:23.142\" data-end=\"00:33:30.581\" data-spk=\"0\" data-label=\"Jason\">exponential change all these things changing faster than Moore\u2019s Law and you know it made me wonder huh like.<\/span><\/p>\n<p><small>[33:31]<\/small>\u00a0<span title=\"33:31 - 33:35\" data-start=\"00:33:31.206\" data-end=\"00:33:34.998\" data-spk=\"0\" data-label=\"Jason\">Is this a unique Confluence of factors.<\/span><br \/><span title=\"33:35 - 33:46\" data-start=\"00:33:35.299\" data-end=\"00:33:46.144\" data-spk=\"0\" data-label=\"Jason\">You know is there something special about this time that there\u2019s more of these interdependent factors that are changing so quickly that you know the world really is.<\/span><br \/><span title=\"33:46 - 33:51\" data-start=\"00:33:46.469\" data-end=\"00:33:50.603\" data-spk=\"0\" data-label=\"Jason\">Getting disrupted in some unusual way or like.<\/span><br \/><span title=\"33:51 - 33:58\" data-start=\"00:33:50.856\" data-end=\"00:33:57.586\" data-spk=\"0\" data-label=\"Jason\">You know has this been how we made progress like throughout all history and I guess I was sort of curious if you had a.<\/span><br \/><span title=\"33:58 - 34:02\" data-start=\"00:33:58.133\" data-end=\"00:34:02.159\" data-spk=\"0\" data-label=\"Jason\">POV how unique our current moment in time is.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[34:02]<\/small>\u00a0<span title=\"34:02 - 34:11\" data-start=\"00:34:01.859\" data-end=\"00:34:11.316\" data-spk=\"2\" data-label=\"Kasey\">So I you\u2019re right I start off as I said I\u2019m a contrary I\u2019m somewhat cynical as I start out but it has we\u2019ve researched across these hundred some topics I realized.<\/span><br \/><span title=\"34:12 - 34:26\" data-start=\"00:34:11.714\" data-end=\"00:34:26.039\" data-spk=\"2\" data-label=\"Kasey\">That I while on the headline I thought I understood some of these topics I thought I understood but only when we got out on The Cutting Edge really understood what was happening did did it really change my point of view I mean look if you you mentioned,<\/span><br \/><span title=\"34:26 - 34:35\" data-start=\"00:34:26.093\" data-end=\"00:34:34.560\" data-spk=\"2\" data-label=\"Kasey\">you know chat GPT earlier in the call if you\u2019ve paid attention to where that was six months ago to where it is today,<\/span><br \/><span title=\"34:35 - 34:43\" data-start=\"00:34:34.704\" data-end=\"00:34:43.291\" data-spk=\"2\" data-label=\"Kasey\">where you know the the other generative AI things are you can actually see this idea in fact Stanford University through their AI index says,<\/span><br \/><span title=\"34:43 - 34:48\" data-start=\"00:34:43.399\" data-end=\"00:34:48.008\" data-spk=\"2\" data-label=\"Kasey\">AI is now it\u2019s not going at Moore\u2019s Law it\u2019s actually doubling every three months.<\/span><\/p>\n<p><small>[34:48]<\/small>\u00a0<span title=\"34:48 - 34:58\" data-start=\"00:34:48.249\" data-end=\"00:34:57.682\" data-spk=\"2\" data-label=\"Kasey\">And if you and I assume that you\u2019ve been playing with these tools and this generative AI That\u2019s now available to us if you\u2019ve been paying attention over the six months you can actually really see.<\/span><br \/><span title=\"34:58 - 35:06\" data-start=\"00:34:57.881\" data-end=\"00:35:06.360\" data-spk=\"2\" data-label=\"Kasey\">The degree and the speed that that\u2019s changing now meanwhile if you go into and spend some time like I spent a lot of time with our Healthcare practice because of the<\/span><br \/><span title=\"35:06 - 35:16\" data-start=\"00:35:06.324\" data-end=\"00:35:16.022\" data-spk=\"2\" data-label=\"Kasey\">the convergence of healthcare and consumer which is a whole nother topic we could go into but if you begin to look at the breakthroughs that have happened just in the last 12 months,<\/span><br \/><span title=\"35:16 - 35:26\" data-start=\"00:35:16.041\" data-end=\"00:35:26.412\" data-spk=\"2\" data-label=\"Kasey\">you know at the intersection of artificial intelligence and health if you look at it the advances that have happened with crispr which is Gene editing in the last year.<\/span><br \/><span title=\"35:27 - 35:36\" data-start=\"00:35:26.611\" data-end=\"00:35:35.660\" data-spk=\"2\" data-label=\"Kasey\">You begin to see like there really is some inflection point that\u2019s happening and it\u2019s really happening at the convergence of these forces,<\/span><br \/><span title=\"35:36 - 35:42\" data-start=\"00:35:35.774\" data-end=\"00:35:42.492\" data-spk=\"2\" data-label=\"Kasey\">you know I think too often we try and pick one and say oh here\u2019s here\u2019s one like drone delivery,<\/span><br \/><span title=\"35:43 - 35:52\" data-start=\"00:35:42.541\" data-end=\"00:35:51.848\" data-spk=\"2\" data-label=\"Kasey\">okay let\u2019s figure out what the implication of that one might be but the reality is it\u2019s the it\u2019s the convergence of these topics that actually begin to.<\/span><br \/><span title=\"35:52 - 35:58\" data-start=\"00:35:52.287\" data-end=\"00:35:57.653\" data-spk=\"2\" data-label=\"Kasey\">At least for me brought me to a different place than I was when I started this this work.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[35:59]<\/small>\u00a0<span title=\"35:59 - 36:10\" data-start=\"00:35:58.669\" data-end=\"00:36:10.164\" data-spk=\"0\" data-label=\"Jason\">Yeah and side note in preparation for the show I did ask Chad gbt what the the future of the consumer industry was and it came back with a one-word answer which is metaverse.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[36:10]<\/small>\u00a0<span title=\"36:10 - 36:15\" data-start=\"00:36:09.864\" data-end=\"00:36:15.332\" data-spk=\"2\" data-label=\"Kasey\">I thought it was going to say hey there\u2019s six forces and I said oh my gosh I\u2019m out of a job.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[36:15]<\/small>\u00a0<span title=\"36:15 - 36:23\" data-start=\"00:36:15.326\" data-end=\"00:36:23.432\" data-spk=\"0\" data-label=\"Jason\">Yeah we\u2019ll see the thing is it\u2019s chat gbt you know is this this model 3 engine is only trained on,<\/span><br \/><span title=\"36:24 - 36:27\" data-start=\"00:36:23.553\" data-end=\"00:36:27.422\" data-spk=\"0\" data-label=\"Jason\">like you know a bunch of material from 20\/20 I want to,<\/span><br \/><span title=\"36:27 - 36:40\" data-start=\"00:36:27.489\" data-end=\"00:36:39.843\" data-spk=\"0\" data-label=\"Jason\">9:21 maybe yeah and so so it was kind of impressive that it picked the metaverse and and of course next year it will it will have all your the the version for the engine will be much better and have your stuff in it.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[36:40]<\/small>\u00a0<span title=\"36:40 - 36:46\" data-start=\"00:36:39.891\" data-end=\"00:36:45.666\" data-spk=\"2\" data-label=\"Kasey\">Hey I don\u2019t know if you picked up on this on the report we within the report we\u2019ve got the icons of the six forces.<\/span><br \/><span title=\"36:46 - 36:58\" data-start=\"00:36:45.882\" data-end=\"00:36:57.936\" data-spk=\"2\" data-label=\"Kasey\">Those icons were developed by generative AI so we typed in text and were able to get the icons that represented 06 forces so when you look at the report you know there\u2019s a little bit of an Easter egg hunt for you.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[36:58]<\/small>\u00a0<span title=\"36:58 - 37:10\" data-start=\"00:36:58.087\" data-end=\"00:37:10.134\" data-spk=\"1\" data-label=\"Scot\">Cool it lets a double click on a i a little bit so you mentioned generative so there\u2019s the the graphic generative side and the verbal or textual<\/span><br \/><span title=\"37:10 - 37:18\" data-start=\"00:37:10.069\" data-end=\"00:37:17.910\" data-spk=\"1\" data-label=\"Scot\">these are all cool but what\u2019s something practical listeners can take away so you know I\u2019m I\u2019m sitting at a you know<\/span><br \/><span title=\"37:18 - 37:32\" data-start=\"00:37:17.851\" data-end=\"00:37:32.254\" data-spk=\"1\" data-label=\"Scot\">a retailer e-commerce shop and I am director of something you know what\u2019s their take away from this there\u2019s diversity of of all flavors there\u2019s a lot coming at you 100 things how do they How do they<\/span><br \/><span title=\"37:32 - 37:34\" data-start=\"00:37:32.194\" data-end=\"00:37:34.123\" data-spk=\"1\" data-label=\"Scot\">pull this into something in their day job.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[37:35]<\/small>\u00a0<span title=\"37:35 - 37:41\" data-start=\"00:37:34.808\" data-end=\"00:37:40.630\" data-spk=\"2\" data-label=\"Kasey\">Yeah well there\u2019s there\u2019s a lot of use cases that I\u2019ve seen that have been posted on Twitter,<\/span><br \/><span title=\"37:41 - 37:53\" data-start=\"00:37:40.733\" data-end=\"00:37:53.286\" data-spk=\"2\" data-label=\"Kasey\">you know relative to hey how can I do my day job today differently and some of those have to do with creating copy some of those have to do with I\u2019ve seen SEO optimization.<\/span><\/p>\n<p><small>[37:54]<\/small>\u00a0<span title=\"37:54 - 38:07\" data-start=\"00:37:53.743\" data-end=\"00:38:07.221\" data-spk=\"2\" data-label=\"Kasey\">I\u2019ve seen even complex things like taking a podcast like this and giving me a summary so I think there\u2019s some real practical things that exist today but actually when I look forward what\u2019s more becomes more interesting to me are,<\/span><br \/><span title=\"38:07 - 38:09\" data-start=\"00:38:07.293\" data-end=\"00:38:09.053\" data-spk=\"2\" data-label=\"Kasey\">the built for use cases,<\/span><br \/><span title=\"38:09 - 38:23\" data-start=\"00:38:09.054\" data-end=\"00:38:22.856\" data-spk=\"2\" data-label=\"Kasey\">and we\u2019re starting to see those like there\u2019s one of the Technologies is open source you know a lot of this is done through an organization where there\u2019s a lot of control around it but there\u2019s also Alternatives that are open source one of which have generative Ai and it you know<\/span><br \/><span title=\"38:23 - 38:31\" data-start=\"00:38:22.839\" data-end=\"00:38:30.722\" data-spk=\"2\" data-label=\"Kasey\">went open source I think about six months ago and is already spawned something like 2000 you know built for use startups.<\/span><br \/><span title=\"38:31 - 38:41\" data-start=\"00:38:30.873\" data-end=\"00:38:40.745\" data-spk=\"2\" data-label=\"Kasey\">So for example in e-commerce one of my clients who said once you know creating the content for e-commerce was like feeding the Beast.<\/span><br \/><span title=\"38:41 - 38:44\" data-start=\"00:38:40.902\" data-end=\"00:38:44.459\" data-spk=\"2\" data-label=\"Kasey\">We have this big assortment we\u2019re constantly changing,<\/span><br \/><span title=\"38:45 - 38:53\" data-start=\"00:38:44.567\" data-end=\"00:38:53.136\" data-spk=\"2\" data-label=\"Kasey\">the assortment you know next spring we\u2019re going to have a whole different assortment we need images we need copy we need attribution and that is just a huge Beast to keep up with.<\/span><br \/><span title=\"38:54 - 38:59\" data-start=\"00:38:53.503\" data-end=\"00:38:58.598\" data-spk=\"2\" data-label=\"Kasey\">And in my mind I can very easily see that being a tremendous use case,<\/span><br \/><span title=\"38:59 - 39:12\" data-start=\"00:38:58.641\" data-end=\"00:39:11.500\" data-spk=\"2\" data-label=\"Kasey\">for a built for use application that would allow us to and I expect that that will be coming soon that will allow us to move very quickly you know in that feeding the Beast scenario.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[39:13]<\/small>\u00a0<span title=\"39:13 - 39:27\" data-start=\"00:39:12.642\" data-end=\"00:39:26.865\" data-spk=\"1\" data-label=\"Scot\">Tell it any other so we\u2019ve talked a bit about the consumer and extech with a i any of the other six buckets you want to dive into that you think listeners would find interesting or actionable.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[39:27]<\/small>\u00a0<span title=\"39:27 - 39:38\" data-start=\"00:39:26.763\" data-end=\"00:39:37.916\" data-spk=\"2\" data-label=\"Kasey\">Let me talk about one that that really stood out for me now yeah you have to back up a minute just think about the consumer industry for a minute but if you think about the convergence of Industries,<\/span><br \/><span title=\"39:38 - 39:45\" data-start=\"00:39:38.048\" data-end=\"00:39:45.186\" data-spk=\"2\" data-label=\"Kasey\">and in particular the convergence of the traditional consumer industry retail even and Healthcare,<\/span><br \/><span title=\"39:45 - 39:50\" data-start=\"00:39:45.289\" data-end=\"00:39:50.396\" data-spk=\"2\" data-label=\"Kasey\">you know really driven by the convergence of infotech and biotech.<\/span><br \/><span title=\"39:51 - 40:00\" data-start=\"00:39:50.577\" data-end=\"00:39:59.849\" data-spk=\"2\" data-label=\"Kasey\">You can begin to see the starting to take shape today and our deloitte\u2019s Healthcare practice looks at this shift that\u2019s occurring so we\u2019re there\u2019s a shift happening with.<\/span><br \/><span title=\"40:01 - 40:05\" data-start=\"00:40:00.528\" data-end=\"00:40:05.016\" data-spk=\"2\" data-label=\"Kasey\">You know from treating sick people to Wellness.<\/span><br \/><span title=\"40:05 - 40:15\" data-start=\"00:40:05.450\" data-end=\"00:40:15.064\" data-spk=\"2\" data-label=\"Kasey\">And as that shift occurs what\u2019s interesting is the money that\u2019s spent you know today treating sick people is largely Insurance driven Wellness though is a consumer category.<\/span><br \/><span title=\"40:16 - 40:21\" data-start=\"00:40:15.545\" data-end=\"00:40:21.283\" data-spk=\"2\" data-label=\"Kasey\">And in 2019 we estimated that that market in the u.s. to be a 700 billion dollar market.<\/span><\/p>\n<p><small>[40:22]<\/small>\u00a0<span title=\"40:22 - 40:28\" data-start=\"00:40:22.155\" data-end=\"00:40:28.278\" data-spk=\"2\" data-label=\"Kasey\">And our Healthcare practice is estimated by 2040 it\u2019ll be a five trillion dollar market.<\/span><br \/><span title=\"40:29 - 40:36\" data-start=\"00:40:28.687\" data-end=\"00:40:35.561\" data-spk=\"2\" data-label=\"Kasey\">I just by way of comparison you know retail in the u.s. is roughly a five trillion dollar market so it shows the explosive growth<\/span><br \/><span title=\"40:36 - 40:49\" data-start=\"00:40:35.543\" data-end=\"00:40:48.630\" data-spk=\"2\" data-label=\"Kasey\">and certainly if you look at some of the major retailers you can see the recognition of the importance of healthcare converging with traditional retail or Healthcare becoming a bigger and bigger consumer category now depends on you know.<\/span><br \/><span title=\"40:49 - 40:58\" data-start=\"00:40:48.781\" data-end=\"00:40:58.263\" data-spk=\"2\" data-label=\"Kasey\">Yeah whoever The Listener is how they want to interpret that but what it tells me is with the Aging population longevity growth<\/span><br \/><span title=\"40:58 - 41:09\" data-start=\"00:40:58.221\" data-end=\"00:41:08.713\" data-spk=\"2\" data-label=\"Kasey\">or even wealth inequality and who has money to spend on you know Wellness that it will be a significant growth Market in the consumer and I think there\u2019s,<\/span><br \/><span title=\"41:09 - 41:18\" data-start=\"00:41:08.731\" data-end=\"00:41:17.666\" data-spk=\"2\" data-label=\"Kasey\">real opportunity for many traditional e-commerce companies to think about you know how they\u2019ll play as part of that you know growth opportunity.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[41:19]<\/small>\u00a0<span title=\"41:19 - 41:20\" data-start=\"00:41:19.037\" data-end=\"00:41:20.478\" data-spk=\"1\" data-label=\"Scot\">Got it<\/span><br \/><span title=\"41:20 - 41:34\" data-start=\"00:41:20.359\" data-end=\"00:41:34.215\" data-spk=\"1\" data-label=\"Scot\">um how about you know your colleagues in the auto segment published a lot of really cool things and you kind of healthcare agree with you it\u2019s gonna go through it needs to right it\u2019s like so painfully obvious whenever you touch that system that\u2019s,<\/span><br \/><span title=\"41:34 - 41:36\" data-start=\"00:41:34.294\" data-end=\"00:41:35.609\" data-spk=\"1\" data-label=\"Scot\">broken all over the place,<\/span><br \/><span title=\"41:36 - 41:46\" data-start=\"00:41:35.742\" data-end=\"00:41:45.819\" data-spk=\"1\" data-label=\"Scot\">so I\u2019m excited that that one\u2019s going to get disrupted and then selfishly how does your framework fold into the Auto industry.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[41:47]<\/small>\u00a0<span title=\"41:47 - 41:52\" data-start=\"00:41:46.985\" data-end=\"00:41:52.405\" data-spk=\"2\" data-label=\"Kasey\">Yeah it actually works I spent some time recently with one of the major.<\/span><br \/><span title=\"41:53 - 42:02\" data-start=\"00:41:52.597\" data-end=\"00:42:02.061\" data-spk=\"2\" data-label=\"Kasey\">Auto company with their CEO direct reports working through what we\u2019ve discovered and what the implications are you know the things like Mass to micro,<\/span><br \/><span title=\"42:02 - 42:08\" data-start=\"00:42:02.098\" data-end=\"00:42:07.788\" data-spk=\"2\" data-label=\"Kasey\">also apply their you know of course the Auto industry is going to go through a major transformation,<\/span><br \/><span title=\"42:08 - 42:15\" data-start=\"00:42:07.836\" data-end=\"00:42:15.185\" data-spk=\"2\" data-label=\"Kasey\">where they\u2019re moving from combustion engines to Electric but it\u2019s not just like hey same car take out this engine put you know a new,<\/span><br \/><span title=\"42:15 - 42:24\" data-start=\"00:42:15.306\" data-end=\"00:42:24.295\" data-spk=\"2\" data-label=\"Kasey\">electric one in actually is a radical change in manufacturing and what the platform is but there\u2019s also this digital goods and services thing I mentioned before,<\/span><br \/><span title=\"42:24 - 42:33\" data-start=\"00:42:24.367\" data-end=\"00:42:33.098\" data-spk=\"2\" data-label=\"Kasey\">because if you really look at where margin will come from and where Revenue will come from into the future you could begin to see you know you\u2019ll buy the,<\/span><br \/><span title=\"42:33 - 42:44\" data-start=\"00:42:33.098\" data-end=\"00:42:44.281\" data-spk=\"2\" data-label=\"Kasey\">the platform which will be the car you\u2019ll have software which will be the digital goods and services that you subscribe to and you can see that today with certainly with the leading electronic or electric<\/span><br \/><span title=\"42:44 - 42:51\" data-start=\"00:42:44.275\" data-end=\"00:42:50.891\" data-spk=\"2\" data-label=\"Kasey\">car company today is being able to subscribe to capability and you could begin to see that shift from,<\/span><br \/><span title=\"42:51 - 42:57\" data-start=\"00:42:50.963\" data-end=\"00:42:56.672\" data-spk=\"2\" data-label=\"Kasey\">you know traditional Revenue to new Revenue models so there\u2019s major transformation that\u2019s happening there<\/span><br \/><span title=\"42:57 - 43:07\" data-start=\"00:42:56.594\" data-end=\"00:43:06.755\" data-spk=\"2\" data-label=\"Kasey\">for sure in fact it may be one of the industries that that\u2019s undergoing the most radical transformation within consumer but all of the same sorts of things that I\u2019ve highlighted here,<\/span><br \/><span title=\"43:07 - 43:08\" data-start=\"00:43:06.779\" data-end=\"00:43:08.401\" data-spk=\"2\" data-label=\"Kasey\">actually apply there as well.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[43:11]<\/small>\u00a0<span title=\"43:11 - 43:17\" data-start=\"00:43:10.685\" data-end=\"00:43:16.886\" data-spk=\"0\" data-label=\"Jason\">I\u2019m asking for a friend do you see any specific disruptions in how automobiles are cleaned coming down the.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[43:17]<\/small>\u00a0<span title=\"43:17 - 43:24\" data-start=\"00:43:16.947\" data-end=\"00:43:23.658\" data-spk=\"2\" data-label=\"Kasey\">Yeah I\u2019m thinking that most people will be getting us a spiffy subscription.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[43:24]<\/small>\u00a0<span title=\"43:24 - 43:26\" data-start=\"00:43:23.815\" data-end=\"00:43:25.551\" data-spk=\"0\" data-label=\"Jason\">I think subscription is the way to go.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[43:26]<\/small>\u00a0<span title=\"43:26 - 43:35\" data-start=\"00:43:25.702\" data-end=\"00:43:34.853\" data-spk=\"1\" data-label=\"Scot\">The good news is all you knowledge workers thought you were safe and it was the people out doing stuff but it\u2019s going to invert on you so,<\/span><br \/><span title=\"43:35 - 43:41\" data-start=\"00:43:34.974\" data-end=\"00:43:40.856\" data-spk=\"1\" data-label=\"Scot\">AI is going to take the office worker jobs first a mill will still need people to clean things and move them around Force.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[43:41]<\/small>\u00a0<span title=\"43:41 - 43:42\" data-start=\"00:43:40.899\" data-end=\"00:43:41.938\" data-spk=\"2\" data-label=\"Kasey\">Good point.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[43:43]<\/small>\u00a0<span title=\"43:43 - 43:50\" data-start=\"00:43:42.551\" data-end=\"00:43:50.176\" data-spk=\"0\" data-label=\"Jason\">I don\u2019t know we\u2019ve talked about this on the show before but like you know whenever you get a CES and they show all these clever automations there\u2019s always a robot making coffee.<\/span><br \/><span title=\"43:51 - 43:57\" data-start=\"00:43:51.144\" data-end=\"00:43:57.129\" data-spk=\"0\" data-label=\"Jason\">And what\u2019s hysterical about that is the robot is always doing the good job the robot is always like.<\/span><br \/><span title=\"43:58 - 44:12\" data-start=\"00:43:57.724\" data-end=\"00:44:12.097\" data-spk=\"0\" data-label=\"Jason\">Pulling the shot and making the beautiful latte art on top of the coffee and then a poor human comes in behind the robot and empties all the coffee grinds out of the machine and I\u2019m I\u2019m like yeah it seems like we\u2019re automating the.<\/span><br \/><span title=\"44:13 - 44:15\" data-start=\"00:44:12.783\" data-end=\"00:44:15.102\" data-spk=\"0\" data-label=\"Jason\">The wrong wrong side of a lot of these equations.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[44:16]<\/small>\u00a0<span title=\"44:16 - 44:20\" data-start=\"00:44:16.316\" data-end=\"00:44:20.150\" data-spk=\"2\" data-label=\"Kasey\">Do you hit on Automation and that\u2019s a topic I could go to if that\u2019s.<\/span><br \/><span title=\"44:21 - 44:29\" data-start=\"00:44:20.553\" data-end=\"00:44:28.779\" data-spk=\"2\" data-label=\"Kasey\">Well here because when you begin to look at the move for master micro I said earlier that the only way you can really make that move,<\/span><br \/><span title=\"44:29 - 44:33\" data-start=\"00:44:28.851\" data-end=\"00:44:33.297\" data-spk=\"2\" data-label=\"Kasey\">efficiently effectively is to move from making,<\/span><br \/><span title=\"44:33 - 44:42\" data-start=\"00:44:33.364\" data-end=\"00:44:41.758\" data-spk=\"2\" data-label=\"Kasey\">Mass decisions to making more granular decisions that are data-driven and then frankly our automated in their execution and so there\u2019s you know there\u2019s a good.<\/span><br \/><span title=\"44:42 - 44:54\" data-start=\"00:44:42.107\" data-end=\"00:44:53.963\" data-spk=\"2\" data-label=\"Kasey\">Shift of automation that will happen in this next decade but some people predict that between 50 and 60 million jobs United States could be automated away in the next decade.<\/span><br \/><span title=\"44:54 - 45:06\" data-start=\"00:44:54.324\" data-end=\"00:45:06.077\" data-spk=\"2\" data-label=\"Kasey\">Now keep that in mind that that\u2019s in a that\u2019s not a base of about 190 million jobs that\u2019s a big significant number and on one hand there\u2019s efficiency Effectiveness there\u2019s granularity there\u2019s you know.<\/span><br \/><span title=\"45:06 - 45:09\" data-start=\"00:45:06.264\" data-end=\"00:45:08.523\" data-spk=\"2\" data-label=\"Kasey\">This master micro shift that\u2019s all good.<\/span><br \/><span title=\"45:09 - 45:18\" data-start=\"00:45:08.992\" data-end=\"00:45:18.462\" data-spk=\"2\" data-label=\"Kasey\">But on the other side there\u2019s what we call Workforce extremes because we have to care about the people who will be you know automated out of their jobs.<\/span><br \/><span title=\"45:19 - 45:26\" data-start=\"00:45:18.666\" data-end=\"00:45:26.105\" data-spk=\"2\" data-label=\"Kasey\">If that number is even close you know then we have to think actively about how do we ensure that.<\/span><\/p>\n<p><small>[45:27]<\/small>\u00a0<span title=\"45:27 - 45:37\" data-start=\"00:45:26.863\" data-end=\"00:45:36.567\" data-spk=\"2\" data-label=\"Kasey\">You know that those employees find their ways to the new jobs and by the way some people can argue and I get this argument all the time hey in history every time we ever.<\/span><br \/><span title=\"45:37 - 45:43\" data-start=\"00:45:36.748\" data-end=\"00:45:42.528\" data-spk=\"2\" data-label=\"Kasey\">Automated away jobs we create a new jobs and that may be that may be true.<\/span><br \/><span title=\"45:43 - 45:51\" data-start=\"00:45:43.147\" data-end=\"00:45:51.109\" data-spk=\"2\" data-label=\"Kasey\">However a lot of this automation that\u2019s occurring it\u2019s I mean it\u2019s occurring across manual work cognitive work and even creative work.<\/span><br \/><span title=\"45:51 - 45:58\" data-start=\"00:45:51.350\" data-end=\"00:45:58.224\" data-spk=\"2\" data-label=\"Kasey\">So there\u2019s significant you know there\u2019s significant change on that front coming the thing that was as a retail you know,<\/span><br \/><span title=\"45:58 - 46:05\" data-start=\"00:45:58.362\" data-end=\"00:46:05.104\" data-spk=\"2\" data-label=\"Kasey\">lover of the retail industry I think about those that those workers are also our consumers,<\/span><br \/><span title=\"46:05 - 46:11\" data-start=\"00:46:05.231\" data-end=\"00:46:11.395\" data-spk=\"2\" data-label=\"Kasey\">you know we need we need a healthy middle class right we need a healthy consumer.<\/span><br \/><span title=\"46:12 - 46:24\" data-start=\"00:46:11.588\" data-end=\"00:46:24.201\" data-spk=\"2\" data-label=\"Kasey\">Category you know in order for our industry to thrive so on one hand there\u2019s a lot coming on the other hand there\u2019s implications of that that we ought to be ahead of thinking about you know and worried about because there\u2019s big implications that come down,<\/span><br \/><span title=\"46:24 - 46:27\" data-start=\"00:46:24.207\" data-end=\"00:46:26.634\" data-spk=\"2\" data-label=\"Kasey\">from from that drastic of a move.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[46:27]<\/small>\u00a0<span title=\"46:27 - 46:41\" data-start=\"00:46:27.380\" data-end=\"00:46:41.104\" data-spk=\"0\" data-label=\"Jason\">Yeah I mean to be honest Casey when I read your the whole research in whole that was my biggest takeaway is like hey two billion more people they\u2019re all going to live live live way longer we have an opportunity to sell a lot more stuff<\/span><br \/><span title=\"46:41 - 46:46\" data-start=\"00:46:41.003\" data-end=\"00:46:46.464\" data-spk=\"0\" data-label=\"Jason\">, the those consumers just have to be in a condition in which they can buy.<\/span><br \/><span title=\"46:48 - 46:52\" data-start=\"00:46:48.250\" data-end=\"00:46:51.632\" data-spk=\"0\" data-label=\"Jason\">Um so I\u2019ll certainly be rooting for that,<\/span><br \/><span title=\"46:52 - 47:00\" data-start=\"00:46:51.747\" data-end=\"00:46:59.690\" data-spk=\"0\" data-label=\"Jason\">I am curious though like what the future of this report is for you I do you envision,<\/span><br \/><span title=\"47:00 - 47:09\" data-start=\"00:46:59.793\" data-end=\"00:47:09.407\" data-spk=\"0\" data-label=\"Jason\">redoing it every year is this something you will revisit periodically and would you expect it to change very much from year to year have you thought about that yet.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[47:09]<\/small>\u00a0<span title=\"47:09 - 47:18\" data-start=\"00:47:09.269\" data-end=\"00:47:18.228\" data-spk=\"2\" data-label=\"Kasey\">Yeah we have in fact I\u2019m glad you asked that question because while we may seem like we\u2019re here talking about a report we\u2019re actually talking about a program<\/span><br \/><span title=\"47:18 - 47:20\" data-start=\"00:47:18.169\" data-end=\"00:47:19.767\" data-spk=\"2\" data-label=\"Kasey\">what I mean by a program is<\/span><br \/><span title=\"47:20 - 47:31\" data-start=\"00:47:19.701\" data-end=\"00:47:30.643\" data-spk=\"2\" data-label=\"Kasey\">for Deloitte in our consumer industry we\u2019ve actually launched the future of the consumer industry not as a report but an ongoing program you know a center and office that will be continually,<\/span><br \/><span title=\"47:31 - 47:34\" data-start=\"00:47:30.650\" data-end=\"00:47:34.393\" data-spk=\"2\" data-label=\"Kasey\">looking at the forces keeping this up to date,<\/span><br \/><span title=\"47:34 - 47:43\" data-start=\"00:47:34.459\" data-end=\"00:47:43.316\" data-spk=\"2\" data-label=\"Kasey\">but also you know it\u2019s a collection of research is collection of insights it\u2019s collection of tools we\u2019re actively serving clients bringing this content to bear<\/span><br \/><span title=\"47:43 - 47:52\" data-start=\"00:47:43.245\" data-end=\"00:47:51.849\" data-spk=\"2\" data-label=\"Kasey\">and we\u2019ve got all sorts of as workshops and application that comes along with it so that\u2019s this is the beginning,<\/span><br \/><span title=\"47:52 - 47:59\" data-start=\"00:47:51.934\" data-end=\"00:47:59.228\" data-spk=\"2\" data-label=\"Kasey\">of that as an ongoing program so you\u2019ll be able to find Us online you\u2019ll be able to stay up to speed,<\/span><br \/><span title=\"47:59 - 48:04\" data-start=\"00:47:59.241\" data-end=\"00:48:03.801\" data-spk=\"2\" data-label=\"Kasey\">on the different reports that we\u2019re going to continue to put out that that build upon<\/span><br \/><span title=\"48:04 - 48:15\" data-start=\"00:48:03.772\" data-end=\"00:48:14.569\" data-spk=\"2\" data-label=\"Kasey\">this work that we\u2019re starting with even I mentioned before the digital goods and services report that we just launched earlier in the week is one of the offshoots that come out of this research and there will be more.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[48:16]<\/small>\u00a0<span title=\"48:16 - 48:24\" data-start=\"00:48:15.633\" data-end=\"00:48:23.787\" data-spk=\"1\" data-label=\"Scot\">Brickell so you\u2019ve this is called job security it sounds like you\u2019ve planted a flag and now you\u2019ll be able to kind of keep growing from here.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[48:23]<\/small>\u00a0<span title=\"48:23 - 48:28\" data-start=\"00:48:23.487\" data-end=\"00:48:27.813\" data-spk=\"2\" data-label=\"Kasey\">Yeah it\u2019s look for me it\u2019s cool like this is energizing is interesting<\/span><br \/><span title=\"48:28 - 48:34\" data-start=\"00:48:27.694\" data-end=\"00:48:34.495\" data-spk=\"2\" data-label=\"Kasey\">yeah I love to be able to think about this in the context of the kind of work that you guys do the kind of work that I get an opportunity to do<\/span><br \/><span title=\"48:34 - 48:43\" data-start=\"00:48:34.358\" data-end=\"00:48:43.407\" data-spk=\"2\" data-label=\"Kasey\">so you know I\u2019m thrilled that Deloitte has given me the opportunity to do this energize the people that I have the opportunity to work from and learn from are just phenomenal,<\/span><br \/><span title=\"48:43 - 48:49\" data-start=\"00:48:43.455\" data-end=\"00:48:49.085\" data-spk=\"2\" data-label=\"Kasey\">you know so I couldn\u2019t ask for more rather than hey understand and help us make a difference.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[48:51]<\/small>\u00a0<span title=\"48:51 - 49:08\" data-start=\"00:48:51.423\" data-end=\"00:49:07.834\" data-spk=\"1\" data-label=\"Scot\">To zoom back out you kind of at the top you said you know there was two tables and some ended up with the dystopian kind of view of things kind of a Hunger Games scenario and then the others were were utopian what do you think that Utopia looks like if we kind of pull all the levers towards the<\/span><br \/><span title=\"49:08 - 49:09\" data-start=\"00:49:07.726\" data-end=\"00:49:09.498\" data-spk=\"1\" data-label=\"Scot\">best possible outcome.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[49:10]<\/small>\u00a0<span title=\"49:10 - 49:22\" data-start=\"00:49:10.070\" data-end=\"00:49:21.805\" data-spk=\"2\" data-label=\"Kasey\">Yeah I mean you can see a path in some of these forces that actually say Humanity will be you know much better you know the ability to address.<\/span><br \/><span title=\"49:22 - 49:29\" data-start=\"00:49:22.040\" data-end=\"00:49:28.601\" data-spk=\"2\" data-label=\"Kasey\">Illness sickness the ability to you know create the kind of value that actually allows.<\/span><br \/><span title=\"49:29 - 49:36\" data-start=\"00:49:28.776\" data-end=\"00:49:35.824\" data-spk=\"2\" data-label=\"Kasey\">You know the additional two billion consumers the two billion people that to live and thrive.<\/span><br \/><span title=\"49:36 - 49:39\" data-start=\"00:49:36.167\" data-end=\"00:49:38.985\" data-spk=\"2\" data-label=\"Kasey\">Those things exist the ability to address<\/span><br \/><span title=\"49:39 - 49:52\" data-start=\"00:49:38.979\" data-end=\"00:49:52.139\" data-spk=\"2\" data-label=\"Kasey\">education gaps you know every one of these things that you look at today in my saves \u2013 you go look there\u2019s possibilities that are coming that both have to do with technology but they also have to do with changing values<\/span><br \/><span title=\"49:52 - 49:57\" data-start=\"00:49:52.061\" data-end=\"00:49:57.343\" data-spk=\"2\" data-label=\"Kasey\">you know of of younger generations and their desire to address some of these issues.<\/span><br \/><span title=\"49:58 - 50:07\" data-start=\"00:49:57.517\" data-end=\"00:50:07.083\" data-spk=\"2\" data-label=\"Kasey\">So there is real utopian possibility that lives in you know within these forces that\u2019s right we really do call it buying it a better because we believe better,<\/span><br \/><span title=\"50:07 - 50:20\" data-start=\"00:50:07.102\" data-end=\"00:50:19.504\" data-spk=\"2\" data-label=\"Kasey\">is an absolute possible outcome but we have to be active we have to understand the choices that are before us and then as Executives of companies we have to participate not just as,<\/span><br \/><span title=\"50:20 - 50:23\" data-start=\"00:50:19.625\" data-end=\"00:50:23.212\" data-spk=\"2\" data-label=\"Kasey\">you know you know in service of.<\/span><br \/><span title=\"50:23 - 50:31\" data-start=\"00:50:23.464\" data-end=\"00:50:30.807\" data-spk=\"2\" data-label=\"Kasey\">Shareholder value but we have to serve you know a broader stakeholder and make sure that we\u2019re thinking about that.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[50:33]<\/small>\u00a0<span title=\"50:33 - 50:39\" data-start=\"00:50:32.845\" data-end=\"00:50:39.286\" data-spk=\"0\" data-label=\"Jason\">I love that note of optimism and that is actually going to be a great place to leave it because we have<\/span><br \/><span title=\"50:39 - 50:50\" data-start=\"00:50:39.208\" data-end=\"00:50:50.186\" data-spk=\"0\" data-label=\"Jason\">Perfectly Used up our allotted time but I want to assure listeners we\u2019re going to put a link in the show notes to the Delight landing page so you can get a copy of this first,<\/span><br \/><span title=\"50:50 - 50:57\" data-start=\"00:50:50.289\" data-end=\"00:50:56.730\" data-spk=\"0\" data-label=\"Jason\">report and dive into it yourself and I assume we\u2019ll find all the following reports there is well<\/span><br \/><span title=\"50:57 - 51:03\" data-start=\"00:50:56.580\" data-end=\"00:51:03.208\" data-spk=\"0\" data-label=\"Jason\">so Casey thank you so much for taking time out of your schedule and sharing some new knowledge bombs with us.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[51:03]<\/small>\u00a0<span title=\"51:03 - 51:08\" data-start=\"00:51:03.136\" data-end=\"00:51:07.510\" data-spk=\"2\" data-label=\"Kasey\">Thank you guys for having me again I always love getting together with you guys and talking.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[51:08]<\/small>\u00a0<span title=\"51:08 - 51:13\" data-start=\"00:51:07.631\" data-end=\"00:51:13.285\" data-spk=\"1\" data-label=\"Scot\">Yeah and if listeners want to follow your socials where you most active.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[51:13]<\/small>\u00a0<span title=\"51:13 - 51:18\" data-start=\"00:51:13.141\" data-end=\"00:51:17.564\" data-spk=\"2\" data-label=\"Kasey\">Well so I\u2019m on Twitter at KL Oba ughh.<\/span><br \/><span title=\"51:18 - 51:33\" data-start=\"00:51:17.774\" data-end=\"00:51:32.676\" data-spk=\"2\" data-label=\"Kasey\">I\u2019m also on LinkedIn you\u2019ll find the Casey low bar and and we will be continuing this conversation there and Publishing you know an ongoing thread of conversation and information if this is what\u2019s you know interesting to you.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[51:33]<\/small>\u00a0<span title=\"51:33 - 51:45\" data-start=\"00:51:33.224\" data-end=\"00:51:44.845\" data-spk=\"1\" data-label=\"Scot\">Very cool as Jason said we really appreciate it I sidebar with a couple of teenagers I thought you were gonna throw out your Tick-Tock but I guess I guess you haven\u2019t really super like like Jason are you a little too shy for that platform I.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[51:45]<\/small>\u00a0<span title=\"51:45 - 51:50\" data-start=\"00:51:44.545\" data-end=\"00:51:49.706\" data-spk=\"2\" data-label=\"Kasey\">I referenced I reference my daughter earlier as as being on the tick tube.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[51:50]<\/small>\u00a0<span title=\"51:50 - 52:02\" data-start=\"00:51:49.851\" data-end=\"00:52:02.271\" data-spk=\"1\" data-label=\"Scot\">Yes absolutely well we really appreciate it and you know this early look for the Pod we appreciate you and welcome to the been on the podcast five times Hall of Fame.<\/span><\/p>\n<p><b data-spk=\"2\">Kasey:<\/b><br \/><small>[52:02]<\/small>\u00a0<span title=\"52:02 - 52:05\" data-start=\"00:52:02.193\" data-end=\"00:52:04.723\" data-spk=\"2\" data-label=\"Kasey\">Well I guess I\u2019ll see you the six-time sometime soon.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[52:06]<\/small>\u00a0<span title=\"52:06 - 52:13\" data-start=\"00:52:05.781\" data-end=\"00:52:12.685\" data-spk=\"0\" data-label=\"Jason\">We look forward to that and as always in people got value out of this show you know the best way to repay us is<\/span><br \/><span title=\"52:13 - 52:26\" data-start=\"00:52:12.613\" data-end=\"00:52:25.598\" data-spk=\"0\" data-label=\"Jason\">to write that five star review on iTunes if you can log on the chat gbt you can actually get it to write the review for you and just paste it right in into iTunes and until next time. <\/span><span title=\"52:26 - 52:27\" data-start=\"00:52:26.049\" data-end=\"00:52:27.359\" data-spk=\"0\" data-label=\"Jason\">Happy commercing.<\/span><\/p>\n<\/div>\n<p><p><a href=\"https:\/\/dmsretail.com\/online-workshops-list\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-496\" src=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png\" alt=\"Retail Online Training\" width=\"729\" height=\"91\" srcset=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png 729w, https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90-300x37.png 300w\" sizes=\"auto, (max-width: 729px) 100vw, 729px\" \/><\/a><\/p><br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A weekly podcast with the latest e-commerce news and events. Episode 302 is an interview with Kasey Lobaugh, Chief Futurist, Consumer Industry, Principal and Owner [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1121,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":["post-8518","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-podcasts"],"_links":{"self":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/8518","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/comments?post=8518"}],"version-history":[{"count":0,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/8518\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media\/1121"}],"wp:attachment":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media?parent=8518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/categories?post=8518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/tags?post=8518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}