320 episodes

Join hosts Jason “Retailgeek” Goldberg, Chief Commerce Strategy Officer at Publicis, and Scot Wingo, CEO of GetSpiffy and Founder and Executive Chairman of Channel Advisor, as they discuss the latest news and trends in the world of e-commerce and digital shopper marketing.

The Jason & Scot Show - E-Commerce And Retail News Jason "Retailgeek" Goldberg, Publicis & Scot Wingo, Channel Advisor

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    • 5.0 • 1 Rating

Join hosts Jason “Retailgeek” Goldberg, Chief Commerce Strategy Officer at Publicis, and Scot Wingo, CEO of GetSpiffy and Founder and Executive Chairman of Channel Advisor, as they discuss the latest news and trends in the world of e-commerce and digital shopper marketing.

    EP319 - Amazon Q1 2024 Recap

    EP319 - Amazon Q1 2024 Recap

    EP319 - Amazon Q1 2024 Recap
    http://jasonandscot.com Join your hosts Jason "Retailgeek" Goldberg, Chief Commerce Strategy Officer at Publicis, and Scot Wingo, CEO of GetSpiffy and Co-Founder of ChannelAdvisor as they discuss the latest news and trends in the world of e-commerce and digital shopper marketing.

    Episode Summary:
    In this episode, Jason "Retailgeek" Goldberg and Scot Wingo dive deep into Amazon's first quarter results for 2024, analyzing the company's performance in various segments such as retail, offline and online sales, marketplace, AWS, and advertising. They also explore the impact of AI on Amazon's business and provide insights into the company's future guidance for Q2 2024.

    Amazon Q1 2024 Earnings Release
    Amazon Q1 2024 Earnings Call Transcript
    In our latest episode, Jason and Scott cover a range of topics, starting with their reflections on recent events such as May the 4th and Cinco de Mayo. Jason shares intriguing stories from his extensive travels and interactions with listeners worldwide. Scott delves into the intersection of e-commerce and the auto industry, honing in on Carvana. The duo also delves into the U.S. Department of Commerce retail indicators data, shedding light on trends in retail sales and e-commerce growth. The conversation pivots towards Amazon's recent earnings report, contextualizing it within the realm of AI investments by tech giants like Meta and Alphabet, offering valuable industry insights and analysis.

    The discussion continues with a focus on Amazon's earnings report, zooming in on concerns around AWS amid heightened competition from Alphabet and Azure. The rising trend of AI investments, particularly in data training applications, is explored, alongside the growing popularity of open source AI models due to cost and privacy considerations. Despite a conservative Q2 guidance, Amazon impresses with robust revenue that surpasses Wall Street expectations, particularly in operating income. The retail segment shows exceptional growth, exceeding operating income estimates for both domestic and international divisions. Notably, Amazon's performance in brick-and-mortar stores, spearheaded by Whole Foods, demonstrates resilience with a 6.3% growth rate. AWS stands out with a 17% growth, dispelling market share concerns and showcasing accelerated revenue growth, illustrating Amazon's continuous growth potential and innovation prowess.

    Scott delves deeper into Amazon's positive quarterly earnings report, emphasizing the remarkable revenue performance, especially in operating income. Insights are shared on Amazon's successful agnostic approach to LLM models and the potential advancements in generative AI. The conversation shifts towards the burgeoning ads business at Amazon, underlining its profitability and future growth prospects. Scot also outlines Amazon's Q2 guidance and the potential impacts of consumer spending patterns on the retail sector, including concerns about changing consumer behaviors and economic pressures shaping market dynamics. Jason complements the discussion with additional perspectives on consumer behavior and economic influences reshaping the market landscape.

    Furthermore, we embark on a detailed exploration of supply chain logistics, with a spotlight on Amazon's expansion into third-party logistics services, revolutionizing traditional retail strategies by sharing proprietary capabilities for wider adoption. Insights from Andy Jassy shed light on Amazon's logistics business approach. The conversation expands to include how companies like Spiffy are embracing a similar model of sharing proprietary products to drive innovation and revenue growth, showcasing an evolving landscape of retail innovation.

    The podcast unpacks the complex world of grocery retail, highlighting Amazon's experimental forays like Just Walk Out technology and the Amazon Dash cart, while examining the challenges in delineating Amazon's grocery sector strate

    • 1 hr 7 min
    EP318 - Temu Deep Dive with Earnest Analytics

    EP318 - Temu Deep Dive with Earnest Analytics

    EP318 - Temu Deep Dive with Earnest Analytics 

    Episode Summary:
    In this episode, Jason "Retailgeek" Goldberg and Scot Wingo dive deep Temu, the online marketplace operated by the Chinese e-commerce company PDD Holdings, that has become the fastest growing retailer in history.

    Joining us on the episode is Michael Maloof is the Head of Marketing for Earnest Analytics. Earnest works with world-class data partners to acquires, anonymize, and productize insight about the entire U.S. Economy. They have posted numerous insights about Temu in the US this year:

    Feb 28: Temu’s 2024 Super Bowl ad blitz failed to accelerate growth March 5: Temu is growing fastest among high income earners March 12: Almost half of Wish, AliExpress customers shop at Temu
    In this episode we cover who Temu is, how big they have become, who their customers are and what retailers they are likely impacting, their go to market strategy (and especially their marketing spend), the controversy around their use of the Global Postal Treaty, and some of their potential risks. We also explore where they could go next. If you're in the commerce space, you'll want to make sure you are up to speed on Temu.

    Don't forget to like our facebook page, and if you enjoyed this episode please write us a review on itunes.

    Episode 318 of the Jason & Scot show was recorded on Wednesday, March 13th, 2024.
    http://jasonandscot.com
    Join your hosts Jason "Retailgeek" Goldberg, Chief Commerce Strategy Officer at Publicis, and Scot Wingo, CEO of GetSpiffy and Co-Founder of ChannelAdvisor as they discuss the latest news and trends in the world of e-commerce and digital shopper marketing.

    Transcript Jason:
    [0:23] Welcome to the Jason and Scott show. This is episode 318 being recorded on Wednesday, March 13th, 2024.
    I'm your host, Jason “Retailgeek” Goldberg. And as usual, I'm here with your co-host, Scott Wingo.

    Scot:
    [0:39] Hey, Jason, and welcome back, Jason and Scott show listeners.
    Jason, one of the topics that is coming up a lot this year, we talked a lot at a lot in our recap and our preview is Temu.
    By many measures, people think they're one of the fastest growing e-commerce companies in history.
    If you watch the Super Bowl, I think they spent $8 trillion on ads there.
    So we want to do a deep dive into this and cover a number of topics.
    We want to talk about a little background around Temu.
    What's it mean for U.S. retailers? And, you know, it's a Chinese company.
    Does it even matter? If yes, why?
    Because Temu isn't public and they are a Chinese company, they don't really disclose any information.
    So we wanted to bring on a guest that is basically a Temu expert.
    So we looked around and we found Michael Maloof.
    He is the head of marketing at Ernest Analytics.
    Ernest works with world-class data partners to acquire, anonymize, and productize insights about the U.S. economy.
    They have posted lots of articles. This is how we found Michael.
    I think you know him as well from the trade show circuit.
    So he's going to help us do this deep dive into what's going on at Temu.
    Welcome to the show, Michael. Michael?

    Michael:
    [1:59] Yeah, thanks so much for having me on the show. Big fan of your annual predictions and the work you guys do.
    So I'm head of marketing at Earnest Analytics. We're the leading credit card retail pricing and healthcare claims data provider for investors and retailers.
    Before Earnest, I was actually a tech and telco analyst over at Goldman.
    The two credit card data sets we work with now, Orion and Vela, are probably the most pertinent to my conversations about the consumer economy 

    • 42 min
    EP317 - Amazon Q4 Results

    EP317 - Amazon Q4 Results

    EP317 - Amazon Q4 Results 

    Episode Summary:
    In this episode, Jason Goldberg and Scot Wingo dive deep into Amazon's fourth-quarter results for 2023, analyzing the company's performance in various segments such as retail, offline and online sales, marketplace, AWS, and advertising. They also explore the impact of AI on Amazon's business and provide insights into the company's future guidance for Q1 2024.

    Amazon had a strong Q4 earnings report, beating analyst expectations for revenue and income. In fact, it was Amazon's most profitable quarter ever.

    Retail sales were up 6%, which imputes a 2023 GMV of $515B - $660B in the US for all of 2023. The bottom end of that estimate would be a 9% growth over 2023, versus all of Core Retail in the US (x Gas and Auto) which grew 3.6% in 2023. This impressive growth was achieved while Amazon improved delivery times (6B packages delivered next day, and 1B delivered same day, same day offered in 110 metros) and reduced cost to serve by $0.45/package in the US (the first reduction in cost to serve since 2018).

    AWS accelerated growth but slowly declined margins.

    Ad revenue was again the brightest spot, growing 27% to $14.7B, resulting in $47B in revenue the last 12 months, and a $58B run rate. The income generated from that ad revenue was likely more than $27B, far in excess of the $21B Amazon earned from AWS. Once again demonstrating that Ads are Amazons biggest income generator.

    Amazons total GMV in the US likely falls in-between Walmart's expected 2023 GMV of $442B and Walmart plus Sam's Club total US GMV of $519B. Walmart reports it's Q4 on Feb 20.

    Amazon probably represented 24% of ALL retail growth in the US in 2023. Amazon, Walmart, Temu, and Shein alone likely represented 49% of all 2023 Us retail growth (leaving mostly crumbs for the rest of retail).

    Amazon also announced Rufus, a new Gen AI based search amenity for the e-commerce site.

    Don't forget to like our facebook page, and if you enjoyed this episode please write us a review on itunes.

    Episode 317 of the Jason & Scot show was recorded on Wednesday, February 7th, 2024.
    http://jasonandscot.com
    Join your hosts Jason "Retailgeek" Goldberg, Chief Commerce Strategy Officer at Publicis, and Scot Wingo, CEO of GetSpiffy and Co-Founder of ChannelAdvisor as they discuss the latest news and trends in the world of e-commerce and digital shopper marketing.

    Transcript Jason:
    [0:23] Welcome to the Jason and Scott Show. This is episode 317 being recorded on Wednesday, February 7th, 2024.
    I'm your host, Jason Retail Geek Goldberg, and as usual, I'm here with your co-host, Scott Wingo.

    Scot:
    [0:38] Hey, Jason, and welcome back, Jason and Scott Show listeners.
    Jason, we've been talking about ARVR since before shop.org changed its name.
    And did you get a vision pro and how is it i.

    Jason:
    [0:57] Did not i feel like i've let you and our listeners down i desperately wanted to lie and say that we were recording this episode through our joint vision pros i did i did go do a demo and it it seems super cool i am sorting through my my highly poor vision to see what sort of corrective lenses i'll need to put into the thing, to pull the trigger. I heard yours has arrived though.

    Scot:
    [1:24] Yes, mine actually just came hours ago here to Jason and Scott, North Carolina headquarters.
    And it is sitting in a box staring at me. And I figured I would not get the show notes done if I started playing with that.
    So that's gonna be my weekend fun that I'm gonna work on. So I'll report back on that.

    Jason:
    [1:42] All of us that love you are slightly sad because we've seen your real eyes for probably the last time in a long while.

    Scot:
    [1:48] That is true yep yep

    • 38 min
    EP316 - Annual Predictions 2024

    EP316 - Annual Predictions 2024

    EP316 - Annual Predictions 2024 
    Jason visited the Walmart Neighborhood Market in Pea Ridge, Arkansas featuring drone delivery. Here is a video for those interested.
    2023 Predictions Recap Jason:
    At least 2 retail bankruptcies (besides Party City) Yes BNPL Consolidation (Klarna, Affirm, Afterpay. Sezzle) – at least one merges/exits US or BNPL. No Shopify launches an ad product such as a retail media network Yes Meta/Google/TikTok lose ad share to new social media platforms and retail media networks. No Live Streaming Commerce Still not meaningful in US in 2023 (less than 5% of social commerce in US) Yes Jason Total Score: 3 of 5
    Scot:
    Amazon uses this 2022 setback/slowdown/reversion to the mean for a public resetting of expectations, but behind the scenes they take share and raise the bar on shipping. Yes Shopify is acquired No An innovation in e-commerce powered by ai (gpt4) surprises us by how fast it’s adopted and how cool it is. Yes E-commerce accelerates back to the mean in 2H after a mean regression in 1H. E-com returns 10-15% growth rates. Yes Sephora and/or Ulta move to a subscription model for new product discovery. Yes Scot Total Score: 4 of 5
    Trends revert to the mean, and Scot is back on Top!
    2024 Predictions Jason:
    Retail Media Networks go In-store. At least 1 top 20 retailer launches a digital in-store ad network AI is even hotter at end of 2024 than now. Most text boxes in E-Com are GenAI powered. A least one retailer has an AI based auto-replenishment solution with significant adoption. Bifurcation drives at least two more retail bankruptcies, including 1 national specialty retailer, and one general merchandise/dept store. (two top 50 retailers) China companies focus more on West and get more traction. Shein successful IPO. Temu US gets to at least 75% of target US E-Com. Grocery E-Commerce goes from $95B to $125B in 2024 (after being down in 2023 per Bricks meets clicks). Bonus: Live-steaming, MetaVerse, Crypto still not a major thing in e-commerce; Management stops blaming performance on retail crime; and Smaller RMN’s fail.
    Scot:
    Amazon relaunches Alexa on a native LLM Temu falters as people realize it’s wish 2.0 RMN is currently $52b, growing 20% y/y, accelerates in 24 to 30% and $67b (coresight has the 52 datapoint) Instacart who’s stock IPO’d at $33 and now is $23, solves ads and pops to 40 While everyone thinks Shein/Temu takes share from Amazon, they end up hurting Nordstrom, Macys and Target instead – materially (10%+) focus on apparel, maybe take target out? Don’t forget to like our facebook page, and if you enjoyed this episode please write us a review on itunes.
    Episode 316 of the Jason & Scot show was recorded on Thursday, January 11th, 2024.
    http://jasonandscot.com
    Join your hosts Jason "Retailgeek" Goldberg, Chief Commerce Strategy Officer at Publicis, and Scot Wingo, CEO of GetSpiffy and Co-Founder of ChannelAdvisor as they discuss the latest news and trends in the world of e-commerce and digital shopper marketing.
    Transcript
    Jason:
    [0:23] Welcome to the Jason and Scott show. This is episode 316 being recorded on Thursday, January 11th.
    I’m your host, Jason Retail Geek Goldberg. And as usual, I’m here with your co-host, Scott Wingo. go.

    Scot:
    [0:39] Hey, Jason, and welcome back. Jason and Scott show listeners.
    Well, folks, this is one of our most popular shows of the year.
    This is our Jason and Scott annual prediction show.
    This is where being an audio podcast really works against us.
    You can’t see us, but Jason, I normally wear leisure wear when we record the podcast, but tonight we’re wearing tuxedos.
    Jason, I really like that cummerbund. It looks really good on you.

    Jason:
    [1:04] Thanks.

    Scot:
    [1:04] I feel like you’ve really elevated elevated your game this year the the suede tuxedo

    • 59 min
    EP315 - 2023 Turkey5 Recap with Salesforces Rob Garf

    EP315 - 2023 Turkey5 Recap with Salesforces Rob Garf

    EP315 - 2023 Turkey5 Recap with Salesforces Rob Garf
    Episode 315 is a recap of Turkey5 (The five days from Thanksgiving through Cyber Monday) 2023 with Rob Garf, Vice President and General Manager, Retail at Salesforce. This is Robs' Six time on the show, having previously been on episodes 110, 248, 282, 299, and 313.

    Jason and Scot discuss the "Turkey 5" with their guest Rob Garf, VP and GM for retail at Salesforce. They analyze data from various sources to provide insights into the holiday shopping season. According to the U.S. Department of Commerce, e-commerce grew 7.75% in Q3, while total retail only grew 2%. Jason emphasizes the need for e-commerce to grow at least 7.7% in Q4 to stay on track. Adobe's data shows that Black Friday sales were up 7.5% and Cyber Monday sales were up 12.4% from the previous year. The speakers also discuss data from BigCommerce, MasterCard, and Salesforce, highlighting growth in online sales on Cyber Monday and Black Friday.

    Rob Garf adds his observations on retail industry trends, noting an increase in demand and robust pricing. He mentions a rebound in demand in Europe, excluding the UK, and highlights retailers' focus on profitability and inventory levels. The discussion then turns to Amazon's innovative advertising approach during a Friday NFL game, where shoppable ads were displayed via QR codes. Jason believes this strategy will benefit Amazon, as it monetizes viewership and reinforces the brand.

    Discounting played a significant role in driving demand during Cyber Week, with retailers offering an average of 30% off. Consumers were patient, waiting for attractive deals, while retailers managed their inventory and discounting strategies well. The luxury category, however, did not perform as strongly, with only a slight increase or even a decrease in sales. The hosts touch on the resale market and the growing popularity of Buy Now, Pay Later (BNPL) options and mobile wallets. They discuss the potential impact of mobile wallets on shopping behavior and note that BNPL resonates with new consumers and has replaced layaway.

    Finally, the hosts mention the passing of Charlie Munger and the filing of an IPO by Xi'an, encouraging listeners to support the show and announcing more holiday shopping data and reports on Salesforce.com.

    0:00:46 Introduction to the Jason and Scot Show
    0:05:04 Black Friday: First Sales for Vendors
    0:14:06 Softness in Consumer Electronics and Toys Market
    0:14:55 Black Friday and Cyber Monday Impact on Holiday Season Shape
    0:16:32 Retailers' Inventory Management and Positive Growth Forecast
    0:17:47 Retailers analyzing profitability and customer profitability.
    0:18:29 Increase in Demand and Robust Pricing
    0:22:34 Amazon's Innovative Advertising and Potential Profitability for Holiday
    0:26:27 Discount rates over Cyber Week in comparison to previous years
    0:29:04 Retailers' management of inventory and transparency in discounting strategy
    0:31:52 Consumer behavior and the rise of Buy Now, Pay Later (BNPL)
    0:33:32 Mobile wallets and the impact on checkout process and shopping experiences
    0:35:26 Buy Now, Pay Later Growing and Replacing Layaway
    0:37:22 Charlie Munger's Passing and Xi'an's IPO Announcement

    Throughout this episode make liberal use of real-time data from Salesforce Shopping Insights HQ, which tracks how 1.5+ billion consumers are shaping shopping trends. You can see a real-time holiday dashboard, powered by Tableau so you can interact with the data yourself on the Salesforce Holiday Insights page.

    Episode 313 of the Jason & Scot show was recorded on Tuesday November 28th, 2023.
     http://jasonandscot.com
    Join your hosts Jason "Retailgeek" Goldberg, Chief Commerce Strategy Officer at Publicis, and Scot Wingo, CEO of GetSpiffy and Co-Founder of ChannelAdvisor as they discuss the latest news and trends in the world of e-commerce and digital shopper marketing.

    Transcript
    Jason:
    [0:23] Welcome to the Jason and S

    • 40 min
    Shawn Nelson, Founder and CEO of Lovesac

    Shawn Nelson, Founder and CEO of Lovesac

    The Jason & Scot Show.  Podcast about e-commerce and digital shopper marketing.
    Editor note: We're trying some fun new AI features for this episode. The following show notes were written by ChatGPT. We're also let AI remove all the "stop words" in our audio, and we've switched from Google to OpenAI for our audio transcription. Let us know your feedback.
    In this episode of the Jason and Scot show, our special guest is Sean D. Nelson, the CEO and founder of Lovesac. He shares his inspiring journey of starting the company as a beanbag business in his basement and growing it into a successful public company. Sean highlights the key moments of his entrepreneurial journey, including winning a million dollars on Richard Branson's reality TV show and navigating the ups and downs of the business. Sean has upcoming book and podcast, both entitled "Let Me Save You 25 Years: Mistakes, Miracles, and Lessons from the Lovesac Story."

    Sean emphasizes the importance of being a direct-to-consumer brand and how Lovesac has found sustained success by focusing on customer acquisition costs and offering a high-quality product. He discusses the concept of direct-to-consumer and shares his thoughts on its significance. Sean believes that having a differentiated product that provides value to customers is crucial, rather than simply relying on an online sales strategy.

    The conversation also touches on the topic of innovation and how Lovesac has been able to push the boundaries of what a furniture company can offer. Sean discusses their Stealth Tech innovation, which incorporates surround sound into their couches, as well as their commitment to creating products that are built to last and designed to evolve.

    Sean acknowledges the challenges of operating in physical retail and highlights the importance of their showrooms in reducing customer acquisition costs and providing a hands-on experience for customers. He also mentions their partnerships with Best Buy and Costco to expand their reach.

    The discussion expands to the future of retail and e-commerce, with Sean mentioning the transformative role of AI but cautioning that it takes time for movements to fully evolve. He emphasizes the importance of being patient and keeping an eye on developments in the industry.

    The conversation concludes with Sean expressing his long-term commitment to Lovesac and his desire to build something meaningful rather than focusing solely on personal gain. Listeners are invited to check out Sean's podcast and website, as well as his upcoming book, which will be released in January.

    Overall, this episode provides insights into the journey and philosophy behind Lovesac's success and offers valuable perspectives on entrepreneurship, innovation, and the future of retail.
    Chapters
    0:00:46 Introduction and Welcome to the Show
    0:08:36 The Journey of Love Sack: From Highs to Lows
    0:12:05 Love Sack's Traditional IPO and Company Performance
    0:15:49 The Importance of Having a Differentiated Product
    0:19:49 The Value and Overhype of Market Movements
    0:23:18 Sactionals: Built to Last, Designed to Evolve
    0:25:56 Driving a Movement for Sustainable Consumerism
    0:31:36 Innovation and the Evolution of Lovesac's Product Line
    0:37:07 The Strength of Lovesac's Physical Showrooms in the DTC Landscape
    0:40:03 Testing and Learning: Mobile Concierge and Shop and Shop
    0:41:52 AI's transformative role in the future of technology
    0:50:08 Long-Term Vision vs Quick Profit
    Episode 313 of the Jason & Scot show was recorded on Thursday, November 9th, 2023.
    Transcript Jason:
    [0:23] Welcome to the Jason and Scot show. This episode is being recorded on Thursday, November 9th, 2023. I'm your host, Jason "RetailGeek" Goldberg, and as usual, I'm here with your co-host, Scot Wingo.

    Scot:
    [0:37] Hey, Jason, and welcome back. Jason and Scot show listeners.
    Jason, we're very fortunate to have a entrepreneur on the show.

    • 52 min

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