The B2B Revenue Executive Experience
The B2B Revenue Executive Experience

Episode · 3 years ago

Michael Dart on Understanding Retail Dynamics

ABOUT THIS EPISODE

Turn on the news and you hear countless stories about store closings and forgotten malls – no doubt casualties in the evolution of retail. With ecommerce displacing brick and mortars, it’s easy to cry “death of retail,” but retail is very much alive and thriving.

To better understand the new retail landscape, we sat down with Michael Dart, partner at A.T. Kearney and author of Retail’s Seismic Shift: How to Shift Faster, Respond Better, and Win Customer Loyalty.

We're listening to the BTB revenueexecutive experience, a podcast, dedicated elpe executives, train theirsales and marketing teams to optimize growth, whether you're looking fortechniques and strategies, wor tools and resources. You come to the rightplace. Let's accelerate your growth in three to one: Welcome eery one to theBto B revenue executive experience. I'm your host Chad Sanderson today we'retalkling the changes being experienced in the retail space to help those inour audience who sell and focus on retail, better understand the landscapeand market dynamics. Anybody Ho's been watching. The News knows that retailskind of in a changing evolution as we gan speak between e commerce, Por Soe,more o things like that to help us with his. We have MichaelDart partner at at Ceny with over twenty years experience consulting withand leaving projects in the retail space. Also, author of retail size MCshift how to shift faster, respond, better and win customer loyalty.Michael can't think you enough for taking the time to they welcome to theshow Chare. Thank you very much for havingme. I really appreciate the opportunity of joiing it. So I'm always curiousfascinated actually by the journey. Our guests go through to arrive at thepoint that that they're at in their career. So just for background, can youkind of run down for audience how you came to be an expert in the retailsextor I mean. When did you realize it was a passion or interest? Was it morehappen, stance? How did that come to be great question? Combination of thingsreally a little bit of happenstance, and then I found that I really like thesector and liked everything that's going on in retailing, consumer facingbusinesses, so I'm a contraart consultant, I'vespent my career consulting and n. The early two thousand had Opportuniti tojoin a firm that was focused on retail and consumer goods and, while I didn 'tnecessarily know a lot of that time, I realized there was a really interestingintersection between what that firm did,...

...which was really understand. Everythingthat's happening in retail and actually an emerging sector of investors lookingto invest in Retai and consumer businesses, and I thought that I couldplay a bridge connecting those two things and then, when I got intolooking at reach our businesses, I just loved everything that they were doing,because there's so much about the promise of a brand in retail, aboutwhat it's trying to do to delight and satisfy the customers, and it's alwaysforward looking and trying to understand that, and I found thatpretty invigorating and intoxicating, because you're always dealing withcreative people looking at doing new new things, new ways ar doingthings, bringing your products to market and and so that combination of those characteristics combined with thediscipline of the financial side. TEANODIC cite, I found the particularlycompelling and twenty years later here, I am still in it and ejoying it writingbooks about it. It's an interesting sector. I that it's a beautiful blendof science and art. It really is. It really is, and- and I ebson flows quite frankly- thatyou know right now- you're seeing an awful lot of people coming from thescience aspect into retail because of all f the data or the Algorithms, allthe analysis, but at other times you'll have the merchant prince will be thedominant force of the creative types and, ultimately, I think the we lookforward. Organizations that can blame both of those types recruit. Greatanalysts use the data really effectively, but also don't lose thesense of inspiration. Artistic Creative Soi will be the winners n. So let'sstart for ther audience in tlet's SOM with the kind of a contextual question,because anybody that you know steps out from underneath the Bel Jar knows thatthe retail sector is you know in. I don't want to say Turmoi. That may notbe the right word, but it's experiencing some definite changesright, we're hearing about the store, closings and things like that, and thenthere's all these talks about pop up...

...experiences. So News on the sectorskind of legion for those ous that don't live and breathe it. But for audience,is it possible to provide kind of a clear FOCUSD, maybe even slightlysimple summary, of how the retail sector is changing, ininvolving rightnow? Sure, let me let me attempt to do that,because I do think it. I do think it's a great question and Ithink quite often what you hear is people said to retail apocalypse. No,no, you know things aren't as bad as everybody said, and those opinions areall you know useful on some level. I think this the fundamental forces atare shaping our industry and art changing the entire retaill structure.So let me just highlight three for your audience that I think give a reallyclear perspective of the level of change at saking place on why it'sgoing to be systematic and Andemic, and it's not something that's going away.The first is that the supply and demand inbalance in oureconomy in other work, there's more supply material goods than theunderlying demand for those material. Dirks, there's a lot of reasons whythats occurred. Obviously, globalization was given the supplymanufacturing, efficiency, all sorts of new sources of supply coming onlinelonger term. You can look at thred printing is going to increase thesupply of material good sertainly, there's a whole Su reasons. Why demandis constrained from demographics to the fact that we're spending a lot less ofatirial products, much more on technologies? You know Wein from physical Adems todigital electrons, but we're spending a lot more time and experiences andservices etc. Well, that means again, its base simply is when supply NDdemand is out of balance a supply curve. If you think about basic one o onemoves down the demand, curven price fall s and that's what's been happeningacross the board and when price falls significantly and in in the book Iprovocatively say, Everything's heading to free, Whitat, sort o see downridiculous, obviously an information...

...technology, it could be free inmaterial goods. Quite frankly, it could become such a small percentage of howwe spend our dollars or he future. If Yo in five ten years Becaus, it'salmost acting like a free girl when that happens, the basis of competitionfundamentally changes, and so you moved from aring competing on the on thebaces of the product itself. To things like Conveniente, that's why you haveobviously all the online guys of Wy Amrazonis Saddam is because theproducts less important, but how you get me the product second thing thatbecomes important is how you compete on experiences that you wrap around theproduct and that's why you hear so much about experiential, retailing and thethird thing that happened. Wis People now want to buy product tot a line withtheir value. So you get a lot more association with values. So that's thefirst part that's taking place and by the way, ISO as a price declines,the market, the economic structure that supported all of these scale, retailersis under threat, which of course, is why you're seeing SOMODY, stollclosings second big thing are try ang still keep tis simple. Is that there'sa massive fragmentation taking place in consumer chasehas been going on forsome time, but it's accelerated draumatically with winout millennials,genzias others, and the way I like to articulate this is that wee moving fromcraft foods with a Ka, a Croft food with a sea inwa every sector, you start to see the cafting industrytaking overwere lots of small nich brands. Tbut never existed to coming ina because the consumer base is fragmenting again there's a lot ofreasons I go into in the book around this. It's whether it's psychopsychological psychographic reasons, whether or not it's demographic, ethnic,sexuality, geographic. I mean you think about it was just incredible foradventation tey race and that that is meant that you can have thesecompanies coming up and serving all of these issues that is creating what Ireferr to as the demastification of our...

...economy. The mass market is a no longerappealing to people, because they're looking infor something much moreindividual. The third big thing that has been going on for some time ofaccelerating is the technology catalyst and what the technology has been ableto do is to create new business models, it's being linking buyers and sellersin ways you've never anticipated before whether or not you can think of ABNDBoobe any of those new delivery services coming up weth one minute, you can be aconsumer next minute you could be actually working for the company. It'senabled Amazon, obviously to very efficiently sell a thousandmillions millions of skirs, quite frankly, at a touch of a button verysimplistically, again, technology based, and then we designing the physicalworld for that. So you put all of those together and if you think about retailthat for a hundred years was effectively designed for the car, wherewe would drive out to do and buy things, it's now being redesigned for the smartdevices where you can search for unique product. You can find out what theprice is. You can find out what values are associated with it and then you canget it delivered to you in a completely new, an endativ fashion. So I'll stop there, because I lot to DiGess that that is my simpls. You are why this industry is going toug suchfundamental chalege. Well, I mean thes are there's a great perspectives rightand there's a lot there there's a lot that I could definitely dig into. Imean the the economy. One is interesting to me right. You see thestores closing because, as you said, moving to free your margins shrink thatyour top line becomes. You got to watch the bottom line and the cost of thosestores kind of outweigh your margins at times that completely make sense. Whenpeople really stop to think about it. The one that, though, that reallyspeaks to kind ofmean, is that experiential aspect of it. I think itwas a Harvard Business Review Article I read Sid something like eight. Ninepercent of people will pay more for a better experience and up to like eightysix percent will actually stop a...

...purchasing process because theexperience is unpleasant or what we would say full of friction. And we seethis, you know translating everybody lives a BTC life. So we see thistranslated to B, to B sales in the world that I live in. People areexpecting those experiences to change. How do you think retail is going to beable to? You know overcome that? Are the pop up experiences that we'reseeing kind of a response to that experiential aspect of it? Well, I think that's a great point andthey certainly are because theyre one great way of driving engagementinterest from the consumer by having suddenly a new product- andyou lay out- and you saw that you hadn't seen last time- you went to thestore and the reality is you're only going to go to the store you thinkabout it against simple mathematical equation. If EXPERIENC is greater thanconvenience and so thatthat's the equation, and so now youcan define experience in many different ways of pop. U is one and certainlygoing to a store where you can find something new and of it. If interestingand each time you go and see something like that, it's going to be it's going to be engaging for you,because the smartphones so compelling every time you go on your smartphone,there's something new to try and grab you attention. Onin, any multiplicityof APPS, any type of news feeds any type of product you want to search, sothe retail store has to in its own way involved to create that and doingsomething like pop ups there's a a store. I don't think if you're familiarwith called story in New York, it started where they actually change theentire store. I want to say every couple of monthsbased around a whole new story, so the story could be, for example, CuibbeanArt. It could be around the United States and France andsumtainly all the products would be around that particular theme and thenthe store will have that for a couple months, change and next time you go init, be the next story and that's again...

...it's a pop up in a fixed structure. Butit's accasing. This a high engagement, AF reason to go back something new forthe consumer, so that's Patwe, very powerful, the other things that aregoing to be powerful, I believe our entertainment type of retailing. So, inthe malls, where you have incredible technology, the stores will become moreshowroom like they'll, be great restaurants, services a definite dayout and people will spend money even if they don't necessarily physically walkaway with a product. That's going to happen, and then the other part. That'salso clearly happening right now and is going to expand, is what I turn. Wevalues based community based, be Talikg, which Ya best example. I Wan use asfarmers markets where, if you've been your father's market, you'll see it'sactually putting Yoi an pack as people go round buying basic product that youcoul. Quite thank you getting almost any other secem of Det Ighyeahieerience of that is dominant yeah. Only twelve percent of companies fromthe original fortune. Five hundred list remain on the list today. How do youinsurance? Your Organization stands the test of time at Carny works withfortune five hundred companies every day. To answer this question: Lisine atCarnycom to find out more weits that I mean that's what it is right. You go tothe farmes on sure. Okay, I'm going to tell myself you know people buy for emotional reasons and justify withlogic right. So I'm going to tell myself I'm going to the farmers markbecause it's health heer it's more organic. I want to support my localwhatever I like the experience I like being around those other people, I likeseeing what they have right, the smells the it is it's not as drugesis much drudgery is like. I gotto run the target and get some more. You know paper towels like that's. It's completely different experienceand honestly- and I do do a lot of farmers markets when I think of farmersmarkets, I don't think of it is shopping or I don't put it in the samecategory in my head and I even view it differently. That's well said I I think you put thatreally nicely and I agree because it...

...stops being a chor and actually becomespart of your leisure time yeah, because the way the experience is shifted. No,I like that YEA and so in your book. I think it was around chapter. Eight, youtalke about the new consumer value being rational. Altruism, can youexplain this in what detail for audience? I thought it was fascinated yeah. I will so another part of this abundance ofmaterial goups that W we now live in and not only just the fact. There'smore supply, but just to shit abundanceis is sheer. Selection ofmaterial goods has changed the way the consumer thinks about purchasing and what they're looking forand they're really looking because, because now they have so much productthey're, really looking for people who seem to understand their lives and arelooking to really sov problems for their lives, engage inthat consumers lives in a very, very leaningful way. And so, when I talkabout rational altruism, I talk a lot about the shifting mindset thatretailers need to have relly thinking about their own internor economics, ifyou like, or the earn internal business model, to constantly saying in touchwith how the consumer is evolving and changing at what they are, what theyare really seeking when they go on a shopping trip and, quite frankly, itchanges a lot depending upon the income level of the consumer, the nature ofthe purchase, the time that they have and retailers fulfill different roles.Some multiple rolls, you know: WEFOR SOR, the same contum at different times,etc, but they play different roles and really thinking to how do I get very,very close to understanding and solving the problem for the consumer is very,very important right now, so that that's the altriistic part I talk about.You know really developing an empathy for the consumer really trying tounderstand their needs because the way...

...retail has grown over the last you know,twenty years or so certainly last five to ten is almost replicating a formulathat works and then just blowing it out across the country. Sa Great thing came:acrass a if you know, if you think adventure is dangerous, try, try,bordem its lethal and tothe e, and the trouble is all of the malls. All theretailers have the same, have had the same formula and so and they have notreally stayed attuned to okay. What is it that my customer really wants? Whatis the conthat? The consumer really needs, and so I think that essence, every retail,that every brand should be really posing. You know three questions andasking their customers and constantly coling back is. Do you believe that wereally interested in in proving your life? You know: Do we understand yourlife and you believe that we have your interest at the core and that's thealtoistic, the empathetic concern part. It's still going to be beter lappedaround obviously making economic sense. That's the rational part eenof course.A lot of these startups apear not to not tonineight now, but that's therational part, but the empatheic part is I'm really doing this, because I canalways see ways in which I'm going to improve my consumers lives but the bestcompany. I think that has done this and it's one of the reasons they aresuch great retailers. COSCO COSCOW has a mentor of really consistently tryingto improve their consumers lives. They can save a dollar on purchasing aGoodan then pass back. Seventy two: Seventy five cents straight to theconsumer. That's what they're trying to do! They're looking for products andcategories that really enhance the value for the consumer. That's whatthey're trying to do, but there's a lot of other retailers. I've seen who playsophisticated fancy games pricing...

...algoithm to figure out how they canjust take money, forand almost becomes Ou, know detached from the needs andthe life o of the conserver. So so that's the basic concept, but I thinkit is a shift in the mind that direction that a lot of businesses willtake it's easier, quite faanky, to do as a startur in most cases than anestablished retailer, but I still think it's got to become foundational to it'salmost every retailer, not every consumer, facing business. Well, it'snot a small challenge right if you think about it. Increasing empathy fora business empathy CR excuse me the business increasing empathy towardstheir customers and customers. I mean we've trained people, essentiallythrough this lovely little smart phone. That does everything I wanted to dowhen I wanted to do it. We've trained people to be very selfcentered in theexperiences that they pick and how they spend their dollars, and things likethat, so it's almost kind of like revolt against you know we used to usethe demographics or the broad brushes to pain people. Well, people don't wantto be paint with those brushes anymore and that's a huge challenge. I thinkfor retailers and hopefully one I'm kind of seeing technology jump in andsolve it in some places. But it's a it's a massive problem. It's not aneasy one. I think for retailers to wrap their heads around and the I think theones that crack it like. I want to go to New York now and go to story justbecause you told me about that. I don't even don't a thing. I'l buy anything,but that sounds phenomena al so next time, 'm in New York. I'm definitelyGOINGNA check that out right, but it's more about how does a retailer at scale build thatempathy into the way they do business so that the person that they're dealingwith feels like they have that tailored experience? That's a huge shown, a tpe. I think it is a huge challenge in itand it's something that alot of companies don't even spend thatmuch time investing in. Yet it is, in my opinion, one of the biggest mostpowerful levels that you can pull in today's marketplace. One of the bestcompanies- that's done it and another example is Patagonia and I highlightthem because Nowo've consistently stay...

...true to a course of the values that isvery closely identified, identifiable to their tarde consumer ats, notauthentics, positioning and saying you know we're not trying to sell you stuffthat you don't need and thei advertise, which I think it very clever, will evengo into this jacket, use this amount of water, this much cotton. You know thisenvironmental impact so only buy it. If you really need it, Andand, that's a very, very powerfulstatement and it's a very, very much aligned with a lot of the wayin which consumers think about goods today and- and so that's. What I think is thechallenge that really every retailer has to confirn. It's a great exercisesto put out the the PATAGONIAR advertas do not buy this jacket, which is whattheyr had said and say for for each retailer say what is the equivalent ofthat for us for our qual consumer and it's a very, very hard question toanswer wll that requires deepevaluational Frans right, it'sdeeper evaluationor. What do you stand for? What are you trying to do? Peoplearen't just you know if people are getting O, I don't know if they're morediscerning, maybe I'm just getting old enough- that I'm getting a littleskeptical of people in general, but I don't know if they're getting morediscerning, more picky or more aware, more informed in some cases, that's agood thing in some cases, not so much, but I mean I that awareness requiresthese retailers. All companies really to really take a deeper look at theirbrands right, it's their calling card. It's what people connect to anybody,who's ever worked with me or or or spend time. It me TNOWSE, I'm a hugeHarley Davidson fanright and I could. I can tell you all of the reasons why Ibuy Harley Davidson and spend ridiculous amounts of money on thathobby, and I can. I can give you all the rational reasons, but it is muchmore than just a motorcycle. For me, it...

...is much more that e brand. It is aconnection that I have they have over the years, come to know my buyinghabits and what I find appealing my local retailer. I won't go anywhereelse, even when I moved across the city of Denver. I still drive forty minutesto go to the place that I originally abought the Harley, because I knowthose guys they knew me and that's he first name based in experience right.So how do you recommend retailers tackle that type of challenge of ofthat self evaluation and that redivine defining nd involving o their brands?Yeah? Well, first Tope Igo, have to say I love the Harley Davidson brand aswell, and that that is a true true brand and the way I use that expression is a sense ofwhatever anybody else does with Holly Davidson has no impact on the harlyDavids, an Brak F. You know what I mean in other word, because it's so strongand it's so identifiable that it could be taken by you know a group of riderswho to they're not hirly David and folks, but it doesn't diminish horlyDaviton's brand, there's no transference from that individual backto Horly Davidso. The brand is so strong, so true, so authentic that it'sundiminished, if you like by almost how or who uses it and that to me as a the the Litmus Testi fe like ofincredibly strong, strong ground Atso, what is it what you have to do toaccomplish that? Well, first of I think Wey have to have clearer the valuesnumber one. When we talked a little bit about that a minute ago with Padaganyea secendly, you have to be constantly raising the consumer Selfesteem, it'swhat you what you just described it. It means so much to you that brand beingon that bike being associated with those people that it actually makes youfeel much better. So you got to be constantly thinking about. How do I dothat? I think you have to be INOVITIV. Obviously, you've got to be stilloffering designing new poduct new ways of doing things you ways ofinteracting. Obviously, I think...

...hollidaons been pretty progressive withhis APPS, connecting a lot of Liders, etc and being active in the community.That's that's another form of anevotion be relatively scarce. One of the thingsa a lot of brands do is in search of growth, will dilute their identity andwell try and put out products, don't really end up undermining thebrown and if an outside ACAN influence the brand make it impacted. The peoplewho count are inside the company and if you put out a a very poor, Holly DavidSon Motorcycle Product at the bottom end of the market chacating another.Eventually, you could diminish the brand and, and that goes mysed. Myfinal point, which was having that consistent identity. I love of brandsand vacillate bounce around all over the place trying to to find newconsumers, the perenial search for growth and, in the end onther mindtheir brand connection, so so those onete the most important five excellentact. Another portion of the book that I found quite compelling was the conceptof platforming your brand and I'd love. To just hear you kind tof talk aboutthat a little bit besause. I think it's a very powerful concept. I think tapplies in retail and beyond personally, but would love to hear you kind ofexplain that a little bit yeah, so sthe sout process again a lot of businesses think of themselves asrelatively one dimensional. You know we have our stores and we're just sellingproduct and that that's what we try and do, as opposed to saying actually I'm aplatform for creating all sorts of interactions. I've got all sorts ofassets that are embodied in this ecosystem. This business system that Ishould be trying to figure out ways to liberate and to create new things. Nowthe idea of platform. I really, I think, the strongest in technology businesses,because, if you think about you, know whether or not its apple or boodle forthat matter, or Amazon ther, clearly...

...platforms enable all sorts of activity,so ye apple sees itself as a planform for education. It seems itself as aplantform for communication. It's a platform for music. It's got all theAPP, so the iphone is incredibly powerful because it is a platform foreverybody to think about you ways of interacting on it and with it, and whenyou ways in which you can connect on it and so apple, you know, has the iphoneGoogle can put out geogle maps owe can then look at both of those two platforms andSaactualy. All I need to do now is put on cars and location, EW transtation system. INSTACART canlook at that and say actually, if I can put inventry in stores there, I can nowstart an houses. I can start delivering really efficiently as well and and allthat comes because there's a platform that exist. So that's that's what Ithink creates the most value for business. Something with Amazon. Amazoris obviously creatin an incredible level of transactions for lots of outthat retailers and bands on its platform, where you should bhe, imantryand Amazon, will advertise or or ship it n, or you can Shiv it fromyour own location as well. It's just a an incredible vehicle for creating allsorts of new interactions for retail. I think you have to think okay, what arethe assets that I have and what is in my platform. While I have, for example,lots of space, could I use my space differently? I think in a world wherewe've got too much real estate, be really interesting for some of the bigdepartment stores potentially to create an air that says I've got this amountof space if you've got a product or you want to come in and show an art display,etc. You know tell me what you want to do, submit it through the at how muchspace do you e, etc, and it's yours to be leased, because it's really newquick, easy way of US deleveging that particular asset which undervalued bythe way that might drive a lot more traffic to department stores as well.But so you think about the space is...

...something that you could Leve, whichyou've got all this Dayta on customers, and you got all this data on your suppliers. How do you think aboutconnecting them or creating forms that they could interact more different way?How do you think about just doing a whole slew of different sets ofrelationships and products based upon everything that you currently haveinside your ecosystem? Potentially, even then thinking about okay, who isadjacent in Ou ECAIN system, we should be working with an sharing informationdata, space, employees etc, and so that home mindser, I think,breaks down the side o of just saying this. I just do this one thing and thatone thing is getting increasingly squeezed in this marketplace, so itcreates a a different CATUSIC CALT process welan. It requires a differentway of looking into things. We've been looking at for years and years andyears right questioning our own assumptions getting outside of ourcomfort zones, looking at it a little bit differently, and I think somepeople struggle with that out of respeter respect for time. Ibecause we could talk about this all day. I find this amazing ly fascinating,but, as I get towards the end of each interview, I like to ask just kind oftwo questions: Standard Questions for the guests. An the first is as anexecutive yourself. That makes you a prospect. The sales term, I guess,would be target for others that are out there trying to connect, maybe sell yousomething or they have an idea. They want to share with you. When somebodydoesn't know you when they don't have a connection or referral. What do youfind to be the most effective way to get your attention and buildcredibility, so the the notion I'll go back tobecause I I spent so much time talking about it earlier with you? Is thiswhole idea of empathetic concern and really understanding what its like toBein someone elses isshoes so based upon anybody's inside knowledge,understanding of what I do and what I've done? Thinking about that puttingthemselves in my shoes and thinking how...

...ould? How would they if they were melike to be a foced on something, what would add value and that mindsep toooften, I think people when they reach out reach out in a sense of they havetheir own objective? Ive, certainly done that so many times whene. I saidthe Y Whenin that reading and I just thought about my objecttives. I reallydidn't openly think about the other person's objective and how what I havecan really help them, and I think when you have that mindset and that ton, itcomes tru in almost every communication, every document and it makes ha personon the other end much more open and repective to engageyou even if quite pain to what you have at the time, doesn't necessarily fitwith what they're looking for. But they get a sense that this person isactually interested in helpbing me as opposed to thinking about their ownobjectives. So that's something that I aerthe hears. I know idon IBE, mostvaluable. I yee, like he most effective as a consult, is when I've really hadthat top of mind, as opposed to I've been thinking about what I need to getdone. Excellent ixe last question: We call it our acceleration insight. So ifyou had the ability to give sales marketing retail professionals, onepiece of advice that, if and the big Gif they listened and took it to hear,would make them more successful. What would that one piece of advice be inwhy so you know e came across us the other day.I thought this was a really good ing. I Li been trying to inclement iteverywhere in every interaction think about thes following three thingsand but one be a solution to a problem. Secondly, tell a story about how yousolve that problem and then certainly ask a question to the person about thatproblem. What issue that can't be answered with a yes or no answer, and then I think you'll find that inyour selling situation, trying to get people's attention when you go throughthat thought process, and if you have...

...that dialogue you'll be memorable and youill you'll find that people areinterested and engaged on the topics that you're bringing up perfect.Michael F, the listners interested in talking more about the topics we touchon today. What's the best way to get in contact with you, my email address is Michael Dot, DartDart at atconycom and TAT kteaneycom ut. You may want to say that if I, myaccent always gets blurred. Sis mifal period, tart with a part, a atcnycom,so Oti, that's clear, but it always ing time. I'm on the phone people say. Isit Michael Dot, DD excellent? Well, Michael, I can't thankyou enough for taking the time to be on the show. Today it's been an absolutepleasure. Now it's been great. I reallyappreciate you making the time available for me and to enjoyed conversation and yourthought provoking questions. I thank you excellent all right, everyone thatdoes it for this episode, but do not forget to check out retail syzemikshift on Amazon. It is truly a fascinating read whether you're inretail or not, there's a great deal of take aways in there. We all know I'mfocused on btob really enjoyed the book, but- and there are things that I culdtake away and use highly recommend you go pick. It Up of course promote outthe episode o friends, Familyes Goworkers feel like what you hear do isfavorite Ritis er view on itunes and until next time we avalue primesolutions with you all nothing, but the greatest success you've been listening to the BTBrevenue executive experience to ensure that you never miss an episodesubscribe to the show in Itunes for your favorite podcast player. Thank youso much for listening until next time.

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