Money Talks: The retail revolution
Money Talks from The Economist
The Economist
4.4 • 1.2K Ratings
🗓️ 16 March 2021
⏱️ 30 minutes
🧾️ Download transcript
Summary
The shopping industry is in a state of flux. Smartphones and social media are enabling a data-driven transformation that is only just getting started. Host Henry Tricks investigates whether the future of shopping will be ruled by giants and how personal data will increasingly shape not just what gets bought, and where, but even what gets made. Could a new generation of consumers change capitalism for the better?
With David Liu, vice president of strategy at Pinduoduo, Harley Finkelstein, president of Shopify, Nilam Ganenthiran, president of Instacart, and Katie Hunt, cofounder of Showfields.
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Transcript
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| 0:00.0 | At three business, we think you should get more for less. |
| 0:04.0 | With our boundless business offer, the whole team gets unlimited calls, data, and texts. |
| 0:10.8 | And the more sims you buy, the more you'll save. |
| 0:14.4 | All on the UK's fastest 5G network. |
| 0:17.8 | That's what we call big value. |
| 0:20.8 | Search three business or visit us in store. |
| 0:24.2 | Unlimited in the UK, based on Euclis B Test Intelligence data, H1 2023, |
| 0:28.8 | C3.co.uk. |
| 0:37.8 | Shopping. |
| 0:38.8 | Love it or hate it, a bit of retail therapy has long been the go-to drug of the consumer age. |
| 0:45.8 | But today, the industry is in a state of flux, not seen since the Industrial Revolution. |
| 0:52.8 | Smart phones and social media are enabling a data-driven transformation |
| 0:57.8 | that is only just getting started and could change capitalism for the better. |
| 1:03.8 | Getting a customer's attention is harder than has ever been before. |
| 1:08.8 | We are able to connect the producers directly with the consumers, |
| 1:12.8 | really turning that retail experience on his head. |
| 1:14.8 | We create an average of 600 jobs per market we enter. |
| 1:18.8 | We're able to experiment in a physical location, the same way that they would optimize their website. |
| 1:23.8 | The title wave is coming, some people grab their surfboard, other people grab the towel. |
| 1:28.8 | You're listening to Money Talks on Economist Radio, a weekly podcast on the markets, |
| 1:34.8 | the economy and the world of business. |
| 1:36.8 | I'm Henry Tricks, otherwise known as Schumpeter, for my weekly column in The Economist. |
... |
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