WEBVTT - Experience: The New Retail Transaction 0:00:00.160 --> 0:00:03.840 I'm off my game today. No, you're not. People are 0:00:03.880 --> 0:00:05.720 going to have to start making better content. I think 0:00:05.720 --> 0:00:07.240 we're gonna be talking about this for a long time. 0:00:07.320 --> 0:00:10.320 When you program for everyone, you program for no one. 0:00:10.320 --> 0:00:12.399 I think it's a word purpose driven platform. Like we're 0:00:12.400 --> 0:00:15.680 trying to get to substance? How was that? Are you 0:00:15.760 --> 0:00:19.360 happy with that? This is marketing therapy right now? And 0:00:19.440 --> 0:00:24.080 it really is? What's up on? Laura CURRENTI and I'm 0:00:24.120 --> 0:00:28.320 Alexa Kristen. Welcome back to ad Landia, Episode nineteen. I'm 0:00:28.320 --> 0:00:32.120 looking at cam Is that right? Uh? Special episode today, 0:00:32.440 --> 0:00:34.800 Laura's in l A. That's where I am looking at 0:00:34.800 --> 0:00:37.920 the Hollywood sign as you can imagine. Um, it's where 0:00:37.960 --> 0:00:40.760 I belong. And so this is fun because this is 0:00:40.800 --> 0:00:46.080 bicoastal and I'm excited for today because what women, um 0:00:46.320 --> 0:00:49.240 don't want to talk about the future of the retail experience. Well, 0:00:49.360 --> 0:00:51.440 I don't know if they're every woman wants to talk 0:00:51.440 --> 0:00:53.360 about the future of the retail experience. But I think 0:00:53.400 --> 0:00:56.800 that women understand that they hold the majority of the 0:00:56.840 --> 0:01:02.440 buying power in retail on line, offline, and they're underserved. 0:01:02.480 --> 0:01:05.560 And I think retailers and on the brand side have 0:01:05.600 --> 0:01:08.480 been slow to respond, and now we're seeing tons of 0:01:08.520 --> 0:01:11.320 like direct to consumer businesses starting, which I'm really excited 0:01:11.360 --> 0:01:14.800 about new models in retail and everyone, you know, a 0:01:14.840 --> 0:01:16.560 couple of years ago, was talking about the death of 0:01:16.560 --> 0:01:18.920 brick and mortar. I don't actually think that's going to happen. 0:01:18.959 --> 0:01:20.920 I think brick and mortar is going to change. And 0:01:21.200 --> 0:01:24.640 we have a guest coming on, Amanda Latifi, who's the 0:01:24.680 --> 0:01:28.319 CEO and co founder of have to Have h A 0:01:28.520 --> 0:01:31.280 F T A h a v E. Have to Have, 0:01:31.920 --> 0:01:37.360 which is a text based communication tool direct from retailers 0:01:37.400 --> 0:01:41.640 to buyers for specific products and items. And it's really 0:01:41.640 --> 0:01:43.560 cool and Amanda's going to tell us about it next. 0:01:43.720 --> 0:01:47.080 But we've known Amanda. Lord, you've known Amanda for years 0:01:47.280 --> 0:01:49.800 and you introduced me Amanda, and I loved her. She's 0:01:49.880 --> 0:01:54.120 an amazing girl boss and super smart, and we've been 0:01:54.120 --> 0:01:57.040 talking about having her on the show forever because we 0:01:57.120 --> 0:02:01.160 both get really excited about what happens when retail goes 0:02:01.240 --> 0:02:04.080 beyond transaction. And I think that a lot of retailers 0:02:04.080 --> 0:02:05.760 are thinking about this, but we're still seeing on a 0:02:05.760 --> 0:02:10.080 really surface level, and the actual brick and mortar experience 0:02:10.760 --> 0:02:14.440 is generally the same as it's always been UM. Now 0:02:14.480 --> 0:02:17.079 we've got maybe square and we've got new ways of 0:02:17.160 --> 0:02:21.120 purchasing things, but we're still really waiting for retailers to 0:02:21.240 --> 0:02:25.200 take off and really embrace retail as experience or experiences 0:02:25.280 --> 0:02:29.560 retail um in a totally different, really meaningful way, so 0:02:29.600 --> 0:02:32.880 that it's not totally just transactional. Yeah, I mean, when 0:02:33.040 --> 0:02:36.120 is the last time you, like, really got excited to 0:02:36.120 --> 0:02:39.480 go shopping in a retail location. Like I can't tell 0:02:39.520 --> 0:02:42.160 you how many times that I have gone to a 0:02:42.200 --> 0:02:45.000 mall in the last year, or you know, some other 0:02:45.120 --> 0:02:49.040 sort of retail location, probably based on necessity like forgot 0:02:49.040 --> 0:02:52.680 something while traveling or what have you. And I think ultimately, 0:02:52.720 --> 0:02:53.960 at the end of the day, it's like I want 0:02:53.960 --> 0:02:55.280 to get in and get out. I want to find 0:02:55.280 --> 0:02:57.120 what I need to get. You know, I might look 0:02:57.200 --> 0:02:59.120 up retail me not to find some type of discount 0:02:59.160 --> 0:03:02.560 at the register, but the actual setup of the location 0:03:03.000 --> 0:03:06.240 doesn't necessarily pull me in. It's usually just based on necessity. 0:03:06.240 --> 0:03:09.120 And I think with what you know online and digital, 0:03:09.160 --> 0:03:11.080 I mean, my favorite way to shop now is Instagram, 0:03:11.080 --> 0:03:13.079 and you know that I have a addiction, and so 0:03:14.000 --> 0:03:17.000 you know, I think it's interesting, Uh, to see how 0:03:17.120 --> 0:03:19.839 brands who have started online are starting to move into 0:03:19.880 --> 0:03:23.080 the you know, offline space because they want people to touch, feel, see, 0:03:23.480 --> 0:03:25.800 experience a brand versus those that have started in brick 0:03:25.840 --> 0:03:28.240 and mortar um and are trying to find their way 0:03:28.280 --> 0:03:32.880 digitally while really rethinking the space itself. And so I 0:03:32.919 --> 0:03:34.880 don't know, this is a hard one, and I'm not 0:03:35.000 --> 0:03:37.520 so sure it's going to be something that's solved, uh 0:03:37.520 --> 0:03:40.280 in a day, but something that obviously has been indicative 0:03:40.320 --> 0:03:42.200 by the headlines you read of you know, hundreds of 0:03:42.240 --> 0:03:46.120 thousands of retailers closing on a regular yep. I totally agree. 0:03:46.160 --> 0:03:50.200 So with that episode nineteen and a man Latif from 0:03:50.280 --> 0:04:07.000 Half to Have, we'll be right back. So excited to 0:04:07.000 --> 0:04:10.000 welcome to the show a friend, co founder and CEO 0:04:10.320 --> 0:04:15.640 of Have to Have, Amandolas, Yeah, thank you for having me. 0:04:15.760 --> 0:04:18.720 So Amanda, tell us a little bit about what's going 0:04:18.760 --> 0:04:21.200 on and Have to Have tell us about the business 0:04:21.200 --> 0:04:24.039 model and sort of how you got into this. Yep. 0:04:24.200 --> 0:04:26.800 So we started Have to Have about two and a 0:04:26.839 --> 0:04:32.039 half years ago, and it really was to solve an empty, 0:04:32.240 --> 0:04:35.120 open white space in the shopping experience for the consumer. 0:04:35.600 --> 0:04:37.960 So I love to go into stores like into the 0:04:38.000 --> 0:04:41.720 actual retail brick and mortar offline stores and try things on, 0:04:41.880 --> 0:04:45.320 touch and feel them, and I realized there was no 0:04:45.400 --> 0:04:47.640 way to keep up with things I had found in store. 0:04:47.760 --> 0:04:50.839 I would take pictures of tags, then I would look 0:04:50.880 --> 0:04:53.839 up the numbers later online trying to find the item 0:04:53.960 --> 0:04:55.760 or look for it when I went in store and 0:04:55.839 --> 0:04:57.800 started talking to a bunch of friends and realized that 0:04:57.880 --> 0:05:00.120 everyone else did this as well, so we long just 0:05:00.200 --> 0:05:02.640 have to have the app. About two years ago, Uh, 0:05:02.640 --> 0:05:05.200 it moved really fast. We were featured as the best 0:05:05.200 --> 0:05:07.040 new app in the app Store four weeks in. It 0:05:07.080 --> 0:05:09.160 was insane. I didn't even know if what we were 0:05:09.200 --> 0:05:13.120 doing was legal, but we essentially created a platform where 0:05:13.320 --> 0:05:16.920 a shopper would scan a tag added to their list 0:05:16.960 --> 0:05:19.160 of half to halves, and we would notify them when 0:05:19.200 --> 0:05:21.960 it went on sale, all via the app. UM. We 0:05:22.040 --> 0:05:24.960 worked on this for a while, got seventy five retail 0:05:25.000 --> 0:05:28.480 partners going. Things were doing well, but once we started 0:05:28.520 --> 0:05:32.000 going out to raise money and talking to UM investors 0:05:32.000 --> 0:05:35.160 in vcs, one of the venture capital firms said to us, 0:05:35.560 --> 0:05:38.719 this is great, but apps are limited. How do you 0:05:38.760 --> 0:05:41.440 make this not an app? And that was extremely bewildering 0:05:41.440 --> 0:05:44.680 to us because the scan technology was essentially buried in 0:05:44.680 --> 0:05:48.640 the app. So our CTO had an epiphany and we 0:05:48.720 --> 0:05:51.880 realized that we could essentially run the entire half to 0:05:51.960 --> 0:05:56.239 HAVE process via SMS or text message. So using elements 0:05:56.240 --> 0:05:58.520 of the phone, we were able to bring the same 0:05:58.560 --> 0:06:02.120 consumer process to bear. So now as shopper takes a 0:06:02.160 --> 0:06:04.560 picture of a tag, they text it to us at 0:06:04.600 --> 0:06:07.360 seven seven double oh seven. We added to the list 0:06:07.400 --> 0:06:09.000 of Have two haves and then we text them when 0:06:09.040 --> 0:06:11.080 it goes on sale. So that's removed a lot of 0:06:11.120 --> 0:06:13.200 the barriers. You don't have to download an app. The 0:06:13.240 --> 0:06:16.080 other thing it does is it gives us this instant 0:06:16.160 --> 0:06:20.039 access to communicate with the consumer real time. We realize 0:06:20.040 --> 0:06:22.919 that when we started Have to Have, we were sitting 0:06:23.000 --> 0:06:25.840 on a ton of purchase intent data, and if you 0:06:25.880 --> 0:06:30.200 think about media and how stores operate, a lot of 0:06:30.240 --> 0:06:34.000 their marketing efforts and re engagement efforts are based on 0:06:34.279 --> 0:06:37.400 post purchase, especially in regards to end store. So we 0:06:37.440 --> 0:06:39.680 realized there was a huge opportunity with all this data 0:06:39.720 --> 0:06:42.400 we had, so getting rid of the app and moving 0:06:42.480 --> 0:06:45.880 into SMS and really this B two B model allows 0:06:45.960 --> 0:06:49.440 us to partner directly with the retailers. That's amazing. So 0:06:49.560 --> 0:06:51.760 now you're more in the B two B space than 0:06:51.960 --> 0:06:56.280 the B two C space directly correct. Yeah, we're kind 0:06:56.279 --> 0:06:58.400 of a weird hybrid. So what happens is you walk 0:06:58.440 --> 0:07:00.719 in a store and you'll see a ARA cling, which 0:07:00.720 --> 0:07:02.880 is like a sign on the mirror, and it would 0:07:02.920 --> 0:07:05.600 say something like found something you love. Take a picture 0:07:05.640 --> 0:07:07.919 of the tag texted to seven seven double oh seven. 0:07:08.160 --> 0:07:10.640 We'll save it for you and you'll get exclusive offers 0:07:10.640 --> 0:07:12.960 and sail alerts. And now what we're able to do 0:07:13.120 --> 0:07:15.600 is work directly with the retailer and say what's the problem, 0:07:15.720 --> 0:07:17.680 what do you need to move So we're working with 0:07:17.760 --> 0:07:22.120 Halston Heritage, which is a retailer that has amazing ready 0:07:22.160 --> 0:07:25.280 to wear but also eveningwear, and they said, let's do 0:07:25.600 --> 0:07:28.400 some movement on evening where so we built out essentially 0:07:28.400 --> 0:07:32.000 customized logic where when a shopper takes a picture of 0:07:32.400 --> 0:07:35.560 an eveningwear item, we text them back and offer that 0:07:35.640 --> 0:07:40.640 says by that specific item. So all of our everything 0:07:40.680 --> 0:07:42.760 we work through is products specific. It's not meant to 0:07:42.800 --> 0:07:46.600 be general marketing. So purchase the silk wrap kimono dressed 0:07:46.600 --> 0:07:49.960 today and get fifty dollars off a full price handbagger shoe. 0:07:50.040 --> 0:07:52.680 So now we're really creating the opportunity for upsell, but 0:07:52.760 --> 0:07:55.320 it's something that the shopper is interested in because you've 0:07:55.440 --> 0:07:59.440 essentially opted into this product, you've illustrated purchase intent against it. 0:07:59.560 --> 0:08:02.680 So for us, it's how do we drive conversion in 0:08:02.800 --> 0:08:06.640 store and how do we capture miss conversions offline and 0:08:06.760 --> 0:08:10.440 drive them to online. So it's like I r L. Yeah, 0:08:10.560 --> 0:08:13.040 like Pinterest in real life is how some consumers have 0:08:13.120 --> 0:08:15.000 kind of like categorized us because you think about it, 0:08:15.040 --> 0:08:17.800 there's really no way to save something you've found in store. 0:08:17.840 --> 0:08:20.560 We all have our own mechanisms and behaviors, but there's 0:08:20.560 --> 0:08:23.480 never really been a true platform. And what we're telling 0:08:23.520 --> 0:08:26.920 retailers too, is if you think about retail right now 0:08:26.920 --> 0:08:30.080 and what it's going through an omni channel and what 0:08:30.280 --> 0:08:33.240 everyone is saying about the stores and how they're suffering. 0:08:33.840 --> 0:08:38.040 When you think about online, retailers have such a developed 0:08:38.320 --> 0:08:40.960 tool kit for online. They know when you enter the website, 0:08:40.960 --> 0:08:43.440 they know what products you interact with, they know which 0:08:43.480 --> 0:08:46.319 ones you're looking at, they know when you add it 0:08:46.520 --> 0:08:49.480 to the cart that you're thinking about buying it. And 0:08:49.520 --> 0:08:53.120 then when you leave the side, they're able to retarget 0:08:53.120 --> 0:08:55.840 you via social media, they can drive offer triggers, they 0:08:55.840 --> 0:08:58.080 can email you. But when you think about the store, 0:08:58.480 --> 0:09:01.200 it's a blind space. The only people that know anything 0:09:01.200 --> 0:09:04.080 truly are the sales associates, and we're really trying to 0:09:04.160 --> 0:09:06.720 digitize that in store data and just give it right 0:09:06.760 --> 0:09:09.720 back to the retailers. So now when someone you know 0:09:09.800 --> 0:09:11.880 selects an item, picks it up, tries it on, takes 0:09:11.880 --> 0:09:13.920 it to the dressing room, now you can know something 0:09:13.960 --> 0:09:15.800 about it because we're telling them, Hey, if you're interested 0:09:15.840 --> 0:09:17.440 in these and you're not going to buy them today, 0:09:17.679 --> 0:09:19.840 take a picture of the tag. Now you're able to 0:09:19.880 --> 0:09:23.600 do insightful client telling. You can develop a stronger relationship. 0:09:24.080 --> 0:09:27.600 We're able to bring through these customized offers. But now, 0:09:27.679 --> 0:09:31.400 for the first time, you can retarget within store data. 0:09:31.480 --> 0:09:34.360 So we're essentially working with retailers so they can add 0:09:34.400 --> 0:09:37.560 their own offline data to the retargeting efforts. Nobody has 0:09:37.559 --> 0:09:41.240 done this before. That's amazing. Thank you. Will you start 0:09:41.280 --> 0:09:45.360 white labeling have to have software. We've talked about this 0:09:45.520 --> 0:09:47.800 some um in the past. I think it depends on 0:09:47.880 --> 0:09:51.520 what opportunities present themselves. For us. The other thing that 0:09:51.600 --> 0:09:53.199 I want to do, Like I said, we're a bit 0:09:53.200 --> 0:09:55.280 of a hybrid in the sense that we are B 0:09:55.360 --> 0:09:57.600 two B, but B two C drives that interactions. So 0:09:57.640 --> 0:09:59.720 I always want to make sure that a consumer never 0:09:59.760 --> 0:10:01.839 feel it is like this is a marketing ploy. This 0:10:01.920 --> 0:10:03.959 is meant to be a true consumer tool that drives 0:10:04.040 --> 0:10:07.600 insightful data for the retailers. That being said, once you 0:10:07.720 --> 0:10:11.640 enter these larger big box stores that have um multi labels, 0:10:12.080 --> 0:10:15.240 some of the items can be sourced from other retailers. 0:10:15.280 --> 0:10:18.600 So when we're working with more of these private label retailers, 0:10:18.640 --> 0:10:21.640 so when you think about Halston Chili Beans, we're working 0:10:21.640 --> 0:10:25.320 with people like Express Club, Monico Made Well, people that 0:10:25.360 --> 0:10:29.560 for the most parts sell their own product. It makes 0:10:29.600 --> 0:10:31.600 it to where we don't have to do any type 0:10:31.600 --> 0:10:34.080 of price comparison shopping because we're not trying to do 0:10:34.120 --> 0:10:37.080 that either. We're not trying to train consumers to only 0:10:37.120 --> 0:10:40.000 buy on sale. We're just really trying to capture any 0:10:40.240 --> 0:10:44.160 missed opportunity in store and connect that interest to eCOM. 0:10:44.559 --> 0:10:46.720 I mean, one of the interesting things that you just 0:10:46.800 --> 0:10:49.439 said was about this isn't a marketing ploy. This is 0:10:49.559 --> 0:10:52.840 rather meant to be a utility or a value exchange. 0:10:53.480 --> 0:10:55.480 Is this directly because you know, I think about how 0:10:55.480 --> 0:10:57.560 many times I can count on my hands I've actually 0:10:57.559 --> 0:11:00.560 been into a retail location, you know, and last six 0:11:00.600 --> 0:11:04.600 to twelve months, is that something where brands that you're 0:11:04.640 --> 0:11:06.959 working with or you're seeing in the retail space are 0:11:07.000 --> 0:11:09.640 getting smarter about and understanding it's not about you know, 0:11:10.000 --> 0:11:13.400 hacking some marketing employ but really finding unique ways to 0:11:13.520 --> 0:11:16.280 engage people at the point of sale and in terms 0:11:16.320 --> 0:11:19.600 of physical location. Because it's really interesting to me that 0:11:19.679 --> 0:11:24.080 brick and mortars haven't figured out new ways to kind 0:11:24.080 --> 0:11:28.040 of pull people in that aren't just incentive based through 0:11:28.080 --> 0:11:32.880 discounting for example. Yeah, I mean this category industry right now, 0:11:32.960 --> 0:11:35.240 there's a lot of movement going on in it. I 0:11:35.240 --> 0:11:37.840 think we saw a year or two year ago everyone 0:11:37.920 --> 0:11:41.040 got super panicked about it, and now everyone, I think, 0:11:41.080 --> 0:11:43.160 in my opinion, is starting to really hunker down and 0:11:43.160 --> 0:11:45.840 try to figure out things. So to your point, it's 0:11:46.320 --> 0:11:49.959 you know, how are you making this shopping space more 0:11:50.040 --> 0:11:53.640 than just a place to shop? So, um, Westfield just 0:11:53.720 --> 0:11:57.240 opened this Century City Westfield here. It's an amazing location. 0:11:57.720 --> 0:12:01.480 Lots of food, coffee shops, move the grocery store. I 0:12:01.520 --> 0:12:04.959 went there one day, spent three hours. I didn't buy anything, 0:12:05.000 --> 0:12:07.560 but I stayed there. I took inventory of the stores. 0:12:07.640 --> 0:12:09.840 I walked in a lot of them. So I think 0:12:09.880 --> 0:12:13.120 the shift is happening to where when someone says I'm 0:12:13.120 --> 0:12:16.160 going shopping, it doesn't always mean that a purchase is 0:12:16.160 --> 0:12:18.760 going to happen, and retailers have to be okay with that. 0:12:19.000 --> 0:12:21.160 But what they need to do is use that browse 0:12:21.200 --> 0:12:25.600 opportunity to really get their product inserted into someone's consideration set. 0:12:25.720 --> 0:12:27.520 If I need to come back for a present, I'm 0:12:27.559 --> 0:12:29.600 going to go to these three places because they already 0:12:29.600 --> 0:12:31.880 went by and noticed that they had things. But then 0:12:31.920 --> 0:12:35.160 to your point, I think retailers are really trying to 0:12:35.200 --> 0:12:38.760 be inventive with essentially their in store stack and what 0:12:38.800 --> 0:12:41.200 they're able to do for people. So is it you know, 0:12:41.280 --> 0:12:44.440 being able to customize the denim with your initials and 0:12:44.480 --> 0:12:46.719 things of that nature. Is it in store events? Is 0:12:46.760 --> 0:12:49.440 its styaling sessions? Is it something like us like I 0:12:49.480 --> 0:12:52.720 really so we talk about this, Laura and I talked 0:12:52.720 --> 0:12:56.920 about this all the time, like retailers experience and the 0:12:57.040 --> 0:13:02.840 opportunity to do something with your technlogy and actually the store. 0:13:03.040 --> 0:13:05.880 The brick and mortar store changes into a real experience 0:13:05.920 --> 0:13:10.439 for a shopper is to us the holy grail. Like, 0:13:10.840 --> 0:13:13.480 you know, are you having those types of conversations with retailers. 0:13:13.480 --> 0:13:18.480 Are they understanding that the the opportunity there entertainment experience 0:13:18.520 --> 0:13:21.680 in a store, you know, not just like events for 0:13:21.880 --> 0:13:24.160 you know, drape Er James, Well, like, yeah, I just 0:13:24.200 --> 0:13:27.200 got an email UM from Shinola not long ago that 0:13:27.240 --> 0:13:29.520 you know, come in by a product and have the 0:13:29.559 --> 0:13:33.040 opportunity to have your bag hand painted with you know, 0:13:33.120 --> 0:13:36.040 obviously your initials are name of choice. I think you 0:13:36.040 --> 0:13:38.800 know what I'd be curious to know, Amanda's as you're 0:13:38.840 --> 0:13:42.559 aggregating all of this data and understanding what people are 0:13:42.600 --> 0:13:45.720 saving and starting to build personas, do you see this 0:13:45.760 --> 0:13:48.200 as an opportunity Maybe we're inventing this right now. I 0:13:48.200 --> 0:13:50.439 don't know. Is this an opportunity for you to start 0:13:50.480 --> 0:13:54.200 building out UM insights where it goes beyond just this 0:13:54.280 --> 0:13:56.160 is what this person wants to buy, but now this 0:13:56.240 --> 0:13:59.240 is what this person wants to feel and experience and 0:13:59.280 --> 0:14:03.760 engage in store completely Because I think a lot of 0:14:03.760 --> 0:14:06.360 what operators are working with, just in regards to data 0:14:06.720 --> 0:14:09.000 is an then complete data set. So when you think 0:14:09.000 --> 0:14:10.679 about all the data they have, a lot of it 0:14:10.720 --> 0:14:16.120 is accumulated from online activity and then post purchase behavior 0:14:16.200 --> 0:14:17.960 in store. Because like I said, you don't know what 0:14:18.040 --> 0:14:20.560 someone's looking at in store. What we're essentially able to 0:14:20.560 --> 0:14:22.880 tell them is this is what the person is going 0:14:22.920 --> 0:14:26.720 to buy. That changes the messaging entirely. Like the example 0:14:26.760 --> 0:14:29.520 always uses. I go into a store once a year 0:14:29.520 --> 0:14:31.400 and I buy two pairs of genes or whatever. I 0:14:31.400 --> 0:14:33.400 don't buy jeenanes that often. I don't need them. If 0:14:33.400 --> 0:14:35.960 you continue to message me about genes, you've lost me. 0:14:36.000 --> 0:14:38.280 I don't need any more genes. Not only does it 0:14:38.400 --> 0:14:40.840 say that you don't know. Although I know your husband 0:14:40.880 --> 0:14:43.200 and I think you'd probably disagree with that statement. It 0:14:43.280 --> 0:14:45.760 might be true but for this case in point. But 0:14:45.880 --> 0:14:48.600 you know, if it's an it's off message, it becomes annoying. 0:14:48.640 --> 0:14:50.480 I cut you off. What happens when you really have 0:14:50.880 --> 0:14:53.720 have something to tell me. I think retailers have done 0:14:54.040 --> 0:14:56.160 a lot with data, and I think there's a lot 0:14:56.280 --> 0:14:58.400 more we can do with it to really make the 0:14:58.560 --> 0:15:02.440 experience feel personal. Eyes We also keep saying in regards 0:15:02.520 --> 0:15:05.240 to sales and discounts, like I want to help retailers 0:15:05.280 --> 0:15:09.840 take those off signs off the windows, like don't sell 0:15:09.960 --> 0:15:14.240 to everybody, just put on sale what someone wants to buy. 0:15:14.400 --> 0:15:16.960 The other thing that we say is if you think 0:15:16.960 --> 0:15:18.840 about when you go into the store. Let's say on Wednesday, 0:15:18.880 --> 0:15:21.240 you go in China and item, and on Friday, they 0:15:21.240 --> 0:15:23.960 know that that category is going on sale, you leave 0:15:24.000 --> 0:15:26.400 Wednesday because it's just not the right time for you. 0:15:26.640 --> 0:15:29.000 They now have just been money remarketing to you to 0:15:29.120 --> 0:15:31.160 make you aware of this promotion and to try to 0:15:31.160 --> 0:15:33.960 bring you back to store or online. Why wouldn't we 0:15:34.040 --> 0:15:38.400 advance that sale to you knowing that you've illustrated purchasingtant 0:15:38.400 --> 0:15:41.240 in that item. So I really think there's a ton 0:15:41.280 --> 0:15:44.200 of opportunities both on the retailer side and to your point, 0:15:44.480 --> 0:15:48.320 the consumer experience, just to start shopping how people shop more. 0:15:48.440 --> 0:15:51.800 That's the big piece. But it's also about feeling the brand. 0:15:51.920 --> 0:15:54.760 So if you love a brand, it's about experiencing the brand. 0:15:54.840 --> 0:15:58.560 And now every brand has said transaction first. Growth is 0:15:58.720 --> 0:16:03.800 equals transaction. I want to see transaction being bolstered by 0:16:03.880 --> 0:16:07.480 true brand experience that is tied to business. To me, 0:16:07.800 --> 0:16:09.840 that has dropped the mic with what you're doing and 0:16:09.880 --> 0:16:15.080 the possibilities. So tell us about being a woman in 0:16:15.320 --> 0:16:19.240 this venture capital world and any tips that you have, 0:16:19.280 --> 0:16:22.040 any experiences you want to share. You know, has it 0:16:22.120 --> 0:16:25.520 been difficult, have people been more open to it? You know, 0:16:25.520 --> 0:16:28.600 have you had problems saying shopping equals female? Really listened 0:16:28.600 --> 0:16:30.440 to me, this is a product that makes a lot 0:16:30.480 --> 0:16:33.440 of sense. You know, have people blown you off? Yes? 0:16:33.520 --> 0:16:36.000 Oh my god. When we first came out and um, 0:16:36.480 --> 0:16:39.000 we were still fully at based and you know, we 0:16:39.000 --> 0:16:41.680 were really trying to raise. So we've gotten done with 0:16:42.040 --> 0:16:45.600 our initial raise and we're at capital Um right now 0:16:45.680 --> 0:16:47.920 working out of their lab. So I got lucky with 0:16:47.920 --> 0:16:49.720 them because they really got what we were trying to do, 0:16:49.760 --> 0:16:51.800 and they pushed us to advance the product and they 0:16:51.800 --> 0:16:53.720 believed in us. And that was the biggest thing. Is 0:16:54.120 --> 0:16:57.520 it's not about taking money. It's about taking money that 0:16:57.560 --> 0:16:59.800 believes in what you're doing and can really help you 0:17:00.000 --> 0:17:03.560 iterate the product because nobody finishes with what they started 0:17:03.600 --> 0:17:05.400 with us to like, we realized there was a lot 0:17:05.440 --> 0:17:08.439 more data to be had and shared with retailers, so 0:17:08.560 --> 0:17:09.960 you know, we had to shift and go to market 0:17:10.000 --> 0:17:13.320 strategy as well. But when we first got out there. 0:17:13.960 --> 0:17:16.680 You know, you don't always want to believe the situations, 0:17:16.680 --> 0:17:18.080 and you want to think that you're going to create 0:17:18.080 --> 0:17:20.680 a situation that's different for yourself. But the reality is, 0:17:21.040 --> 0:17:22.800 you know, we went into a lot of meetings and 0:17:23.000 --> 0:17:26.400 there were all men. And I don't necessarily think they 0:17:26.680 --> 0:17:29.119 didn't want a fund of female um or they didn't 0:17:29.160 --> 0:17:31.119 want to, you know, support a woman. I think it 0:17:31.160 --> 0:17:33.520 was more that the idea didn't resonate with them. I 0:17:33.560 --> 0:17:35.720 think the reason have to have doesn't exist as a 0:17:35.720 --> 0:17:38.240 lot of the retail technology has been driven by men before, 0:17:38.280 --> 0:17:40.920 and they don't understand how women shopping store. So we 0:17:40.960 --> 0:17:42.800 would pitch this idea and they would be like, I 0:17:42.840 --> 0:17:44.960 don't get this. You expect me to go into a 0:17:45.000 --> 0:17:47.480 store and not buy something. This doesn't make any sense. 0:17:47.480 --> 0:17:49.760 And I'm like, well, clearly you're not a woman and 0:17:49.800 --> 0:17:53.000 you've never been shopping um. So, you know, there was 0:17:53.040 --> 0:17:55.679 a lot of those missed opportunities because they just didn't 0:17:55.680 --> 0:17:57.600 get it. And I think if you're someone investing, the 0:17:57.640 --> 0:18:01.040 first place you go is to your rolodex. And I 0:18:01.080 --> 0:18:04.080 think a lot of people's rolodex is similar to themselves. 0:18:04.119 --> 0:18:05.600 I know a lot of women that are like me, 0:18:05.840 --> 0:18:07.199 And I think men know a lot of men that 0:18:07.240 --> 0:18:10.159 are like them. And I think it's really about diversifying 0:18:10.200 --> 0:18:12.680 the rolodex, making sure that other women are a part 0:18:12.680 --> 0:18:15.560 of the boards. You know, you're really going to events 0:18:15.600 --> 0:18:18.119 to seek out women. And I'm not saying it's because 0:18:18.160 --> 0:18:20.600 you know, we need a better chance. I'm saying there 0:18:20.600 --> 0:18:24.840 just needs to be some diversification and deal flow too. So, Amanda, 0:18:25.000 --> 0:18:28.960 I'm curious to know, Um, what do you see if 0:18:29.040 --> 0:18:31.639 you had to get into your crystal has to have 0:18:31.680 --> 0:18:34.440 shopping ball, what do you see as the single biggest 0:18:34.480 --> 0:18:37.679 trend or technology that will up end retail in the 0:18:37.720 --> 0:18:41.000 next twelve to eighteen months. I mean, I hope it's us. 0:18:41.160 --> 0:18:46.640 Is that? Yeah? I think that there it's gonna be me. Um, 0:18:46.680 --> 0:18:48.480 you know, I really think there's a lot that can 0:18:48.520 --> 0:18:50.639 be done. You know, everyone talks about omni channel and 0:18:50.680 --> 0:18:53.080 things that nature. I do agree that that is a 0:18:53.160 --> 0:18:56.439 storyline and their structure of reality. But I also think 0:18:56.840 --> 0:19:01.879 what retailers are doing online is working. It's growing, A 0:19:01.880 --> 0:19:04.040 lot of us are shopping there. The numbers I'll show 0:19:04.080 --> 0:19:06.880 that When you say retailers, do you mean like DTC, 0:19:07.160 --> 0:19:09.720 like retailers that just exists online or just in general. 0:19:10.280 --> 0:19:12.320 I think in general, I will say, since you brought 0:19:12.359 --> 0:19:15.000 up DTC, I think you see a lot of brands 0:19:15.320 --> 0:19:19.320 that were online brands that are coming offline now. So ever, Lane, 0:19:19.440 --> 0:19:21.879 I mean, why we parker this Everyone knows and I 0:19:21.920 --> 0:19:25.199 think they're doing that because they understand the value of 0:19:25.200 --> 0:19:28.960 brick and mortar and the brand awareness, brand loyalty, the 0:19:29.000 --> 0:19:32.200 interaction that it can drives get people in their touch field. 0:19:32.200 --> 0:19:35.480 Try really take a brand that's online and kind of 0:19:35.520 --> 0:19:39.080 give it that personality and personification. They understand the value 0:19:39.080 --> 0:19:41.640 and that. But what they're doing is they're opening these 0:19:41.680 --> 0:19:43.639 brick and mortar stores, but they're of the future. They 0:19:43.680 --> 0:19:47.040 already work well, there's already synergy, they're collecting the data 0:19:47.119 --> 0:19:49.640 real time, they know what's going on. So I think 0:19:49.720 --> 0:19:52.119 in a general sense, retailers are going to start to 0:19:52.160 --> 0:19:56.040 see more success when they bring some of the efforts 0:19:56.520 --> 0:20:00.840 and techniques that they've employed online when they bring was offline. 0:20:00.960 --> 0:20:03.119 And that's part of the conversation that I want to 0:20:03.119 --> 0:20:05.560 be a part of. That's awesome. Which brands do you 0:20:05.600 --> 0:20:07.760 think are doing it best right now in terms of 0:20:08.160 --> 0:20:11.719 online offline synergy? I mean, like like the ones I 0:20:11.720 --> 0:20:14.200 just said, like ever Line is doing a really good job. 0:20:14.720 --> 0:20:17.440 They're just starting to open their brick and mortar stores. 0:20:17.440 --> 0:20:21.400 I think Warby Parker's always done a good job. I 0:20:21.400 --> 0:20:23.800 think they did a really good job in bringing the 0:20:23.920 --> 0:20:27.639 brand to bear in a physical space that still felt 0:20:27.800 --> 0:20:30.439