On this special episode I am thrilled to be sharing an excerpt from the most popular Remarkable Retail podcast of our third season, where my podcast partner & best selling author Steve Denis and I wrap up Season 3 with the inimitable, irrepressible and always provocative Scott Galloway. For those who have yet to jump on the Big Dawg train, Scott is a Professor of Marketing at NYU Stern, author of 3 best-selling books, podcast host, and the founder of Section4, where he teaches Strategy and Brand Strategy Sprints. His new TV show will debut on CNN+ later this year.
Welcome to the The Voice of Retail , I’m your host Michael LeBlanc, and this podcast is brought to you in conjunction with Retail Council of Canada.
On this special episode I am thrilled to be sharing an excerpt from the most popular Remarkable Retail podcast of our third season, where my podcast partner & best selling author Steve Denis and I wrap up Season 3 with the inimitable, irrepressible and always provocative Scott Galloway. For those who have yet to jump on the Big Dawg train, Scott is a Professor of Marketing at NYU Stern, author of 3 best-selling books, podcast host, and the founder of Section4, where he teaches Strategy and Brand Strategy Sprints. His new TV show will debut on CNN+ later this year.
In a wide-ranging interview, we get Scott's take on Twitter (and the challenges of digital marketing more broadly), the future of work and higher education, what's next for retail (including a bright future for brick & mortar) and his hot take on the prospects for digitally native vertical brands--including why "digitally native" is a distinction without much of a difference. We also learn who Scott turns to for inspiration, as well as discover our mutual love for the brand formerly known as Restoration Hardware and the word "bifurcation."
Thanks for tuning into this special episode of The Voice of Retail. If you haven’t already, be sure and click subscribe on your favourite podcast platform so new episodes will land automatically twice a week, and check out my other retail industry media properties; the Remarkable Retail podcast, the Conversations with CommerceNext podcast, and the Food Professor podcast. Last but not least, if you are into Barbeque, check out my all new YouTube barbecue show, Last Request Barbeque, with new episodes each and every week!
I’m your host Michael LeBlanc, President of M.E. LeBlanc & Company & Maven Media, and if you’re looking for more content, or want to chat follow me on LinkedIn, or visit my website meleblanc.co! Have a safe week everyone!
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Scott Galloway
Scott is the Founder of L2 and a Clinical Professor at the NYU Stern School of Business where he teaches brand strategy and digital marketing. In 2012, Professor Galloway was named “One of the World’s 50 Best Business School Professors” by Poets & Quants. He is also the founder of Red Envelope and Prophet Brand Strategy. Scott was elected to the World Economic Forum’s Global Leaders of Tomorrow and has served on the boards of directors of Eddie Bauer (Nasdaq: EBHI), The New York Times Company (NYSE: NYT), Gateway Computer, and UC Berkeley’s Haas School of Business. Scott co-hosts the Pivot podcast with Kara Swisher. He received a B.A. from UCLA and an M.B.A. from UC Berkeley.
Steve Dennis is an advisor, keynote speaker and author on strategic growth and business innovation. You can learn more about Steve on his website. The expanded and revised edition of his bestselling book Remarkable Retail: How To Win & Keep Customers in the Age of Disruption is now available at Amazon or just about anywhere else books are sold. Steve regularly shares his insights in his role as a Forbes senior contributor and on Twitter and LinkedIn. You can also check out his speaker "sizzle" reel here.
Michael LeBlanc is the Founder & President of M.E. LeBlanc & Company Inc and a Senior Advisor to Retail Council of Canada as part of his advisory and consulting practice. He brings 25+ years of brand/retail/marketing & eCommerce leadership experience, and has been on the front lines of retail industry change for his entire career. Michael is the producer and host of a network of leading podcasts including Canada’s top retail industry podcast, The Voice of Retail, plus Global E-Commerce Tech Talks , The Food Professor with Dr. Sylvain Charlebois and now in its second season, Conversations with CommerceNext! You can learn more about Michael here or on LinkedIn.
Be sure and check out Michael's latest venture for fun and influencer riches - Last Request Barbecue, his YouTube BBQ cooking channel!
Michael LeBlanc 00:04
Welcome to The Voice of Retail. I'm your host Michael Leblanc. This podcast is brought to you in conjunction with Retail Council of Canada.
On this special episode, I'm thrilled to be sharing an excerpt from the most popular Remarkable Retail podcast of our third season, in fact, of our entire series, where my podcast partner and bestselling author Steve Dennis, and I wrapped up season three with a formidable, irrepressible and always provocative Scott Galloway.
Those who have yet to jump on the “Big Dawg” train, Scott is a Professor of Marketing at NYU Stern, author of three bestselling books, podcast host on Pivot with Kara Swisher, and his own Prof. G. and the founder of Section4 where he teaches Strategy and Brand Strategy Sprints. His new TV show will debut on CNN+ later this year.
In a wide-ranging interview, we get Scott's take on Twitter, and the challenges of digital marketing more broadly, the future of work and higher education, what's next for retail, including a bright future for brick and mortar, and his hot take on the prospects for digitally native vertical brands including why digitally native is a distinction without much of a difference. We also learn who Scott turns to for inspiration, as well as discover our mutual love for the brand formerly known as Restoration Hardware, and the word ‘bifurcation’.
Steve Dennis 1:15
Well, we're very excited to welcome Scott Galloway to the podcast. I think last time, Scott, you and I spoke was on my book launch and I appreciate your support on that. How are you doing today?
Scott Galloway 1:25
I'm good. Good to be with you.
Steve Dennis 1:27
All right. Well, I just got I feel like there's so much we can, we can talk about so it's hard to choose, but I was wondering, I know you've been pretty active. On Twitter and elsewhere, talking about social media. There's so much going on. We've got brands like Lush pulling out. We've finally got I guess, Jack Dorsey moving on from Twitter. I'm just kind of curious where you are on how brands should think about leveraging social media, what your view is, what's going on, on Twitter next, are you short or long, just, just in general, what's your hot take on the exciting world of social media these days?
Scott Galloway 2:04
Well, look, if, if you want sort of outsized returns, typically, from a brand or even an individual standpoint, the people who, and the organization to get outsized returns are typically on their marketing or branding efforts or customer acquisition efforts are usually ones that embrace and are really deft with new mediums. So, whether it was Trump and Twitter, or Elon Musk and Twitter, or you know, Kennedy and television, whatever it might be, Nike and television, William Sonoma catalogs, I would argue that the last, kind of, five or seven years, if you were going to find a retailer or smaller kind of consumer aspirational brand that made tremendous progress. They were usually very good at leveraging emerging mediums or really understanding and making a big investment early.
Scott Galloway 2:52
And I would argue those mediums, you know, that kind of medium last decade was probably Instagram, whether it's Lululemon or Sephora, you know, when you think of retailers that have sort of punched above their weight class and done really well, there's usually, you know, they usually have, kind of, over score, they punch above their weight class on Instagram and I would argue the next one is, is TikTok. I think TikTok is extraordinary, in terms of its adoption, sort of faster, zero to a billion than I think any social media platform in history, and distinctive, kind of the headline risk coming out of China around bytedance. I still think that's a huge opportunity for retailers.
Scott Galloway 3:26
And then there's live video selling that is big in China (inaudible) credible conversion rates, you know, in terms of Twitter, which is sort of a, you know, a side hobby for me, I'm kind of semi obsessed with the company, as a user and as I've invested a few times, it's one of the few stocks that kind of trade around I guess, like I've said this for a while, I think Twitter does not command the space it occupies I think a company that this influence and reach should not be trading below its IPO price. It's underperformed every, every social media company much less, you know, probably every SaaS or tech company and I think it's a big opportunity, but I don't, I just don't meet with retailers or brands and say, oh, we need to spend more on Twitter. It just, we talk about it, but so I think Twitter's remarkably under monetized. In terms of how it impacts retailers though, I'm not sure, I just don't think, so I don't even think Twitter's really in a conversation for most brands and retailers. I think it's an afterthought.
Steve Dennis 4:19
I'm curious, just before we move off of social media. Are there, are there any brands or personalities that you think are, kind of, lurking beneath the surface that you're following because they're doing interesting things that haven't quite gotten that, that reach or engagement yet and maybe folks should be looking at for, for some ideas?
Scott Galloway 4:38
That's a really generous question. I wish I had better answers. So, do you know who Jessica, Jessica Yellin: News, Not Noise? She does this, kind of, a rundown of the day's news and she tries to, kind of, call balls and strikes, and she does it on Instagram and I find the format and her voice is so outstanding. I think it's fantastic news and media property. I really, I think they do a great job. I'm biased, I'm an enormous fan of CNN, I get their CNN kind of five things, emails in the morning. I really enjoy CNN. I'm watching less CNBC.
Scott Galloway 5:13
I don't know and then I don't have what I call people. A lot of times, I kind of come up with a better out, people ask me where I get my ideas or influence and it's kind of, I get a lot of it from Twitter. I think Twitter does a pretty good job of having stuff bubble u and I'm also really fortunate I have a group of kids or I call them kids, young, young men and women who forwarded me notes on almost everything I do with interesting articles and data, but I don't I wouldn't say I have like a secret weapon like go follow this guy or gal there's a bunch of people who are really inspiring, I think Ben Thompson a Stratechery, he does an amazing job, is incredibly prolific around technology. I love Bob Lefsetz, Lefsetz. He's, he's actually a music industry guy, but I just find he's such a clear blue flame thinker. I love the way he talks about stuff, but in terms of retail, you know, Steve, I follow some of your stuff. My, you know, as a professor, I follow out of Carl, McGill, (inaudible) North who I think you know as well, Steven, I, it feels like we're kind of there aren't a ton of thought leaders given what a big industry it is.
Steve Dennis 6:15
Put that on the New Year's resolutions. Figure those out.
Scott Galloway 6:17
There you go. Get on it.
Michael LeBlanc 6:19
There you go, there you go. Scott, we may or may not be at the tail end of the COVID era, it feels like the goalposts keep moving a bit, but we're kind of making progress. We're almost exactly if not exactly a year way or a year out from post Corona, From Crisis to Opportunity, your book, as you reflect on the past year, has it changed or modified or what you observed, do you have anything to add to your earlier observations, how do you think customers have changed and how you continue to think about that?
Scott Galloway 6:45
Well, COVIDs, sort of, enduring future will be as an accelerant more than a change engine, if you look at the majority of real changes, it's been it's just taken existing trends and accelerated them a decade or dramatically increase the slope of that trajectory. So, I just got off my podcast, at Pivot, we were interviewing two people about remote work, and I think the office industrial complex is just, will never be the same. I don't, I think we've gotten really good at figuring out a way to rent our human capital to organizations remotely and we start at that, this notion that, oh, it must be a reduction in productivity.
Scott Galloway 7:21
I think when you take the 10 hours a week of commuting, that a lot of people endure and the amount of time you spend getting ready and the cost to put you in this amalgam of steel, glass and asbestos known as an office. You just think there's just so much additional resources and productivity that we start from even if you're less productive, not bumping off of people. So, I think this is a permanent destruction, some things are permanently altered. I think this shift to remote work as a structural shift, not a cyclical one. I think malls, movie theaters, were all weakening.
Scott Galloway 7:53
There is a consolidation in retail and that is it once the, you know, once the rains return, and there's a culling of the herd, there's more foliage for the surviving elephants and you're seeing a dramatic reshaping of the retail landscape where it's very difficult for even smaller franchisees or big brands to survive there's consolidation because you got to be able to make the requisite tech investments. You’ve got to make the requisite changes in format and supply chain.
Scott Galloway 8:22
I'm on the board of Panera and it just strikes me how much where our focus has been as All right, you think of a traditional cafe, but how do we figure out a way to configure it such that it's easy to pick up and never get out of your car or come into the st-, you know, buy online pick up in store smaller footprint or temporary stores in high density areas. It's just all-around supply chain and reconfiguration of the supply chain and technology over 50% of our orders now are digital and when you think about it, the majority of restaurants just can't make those sorts of investments. They just don't have, they don't have the skills, they don't have the capital. So, I think you're going to see, it's not a, you know, it's not a good thing. I think you're gonna see further consolidation.
Scott Galloway 9:02
But retail the last 20 years has, generally speaking, been just a really shitty place to work or invest unless you work for Amazon and we have these well publicized examples of the few winners, whether it's Restoration Hardware or Lululemon, but generally speaking, if you took Amazon out of every ETF that tracks retail stocks, it's just been a terrible place to work or invest because we have one retailer that's now worth more than probably all of you know the majority of retail in Europe combined and that's the behemoth out of Seattle.
Scott Galloway 9:36
So, I wonder though if there's an opportunity coming out of this, I'm just trying to relate to retail and that was on the board of Urban Outfitters. Now I'm on the board. So, I mentioned Panera, I think a lot about retail have, kind of, curse to it. I enjoy it. I think it's a tremendous opportunity to open stores because for the first time in probably three decades, power of leverage just swung back from the landlord to the tenant and for the first time I'm seeing, first time in my history, career in retail, I'm seeing percentage of revenue deals from tier A tenants. So, who never would have previously even considered that type of arrangement and the thing about retail, that's so dangerous as it relates to leases is that if you screw up and you pick the wrong location, it's a 10 year weeping sore of cash.
Scott Galloway 10:26
And, because, because landlords had so much leverage, like now you got to sign up for 10 years, you got to enter into a contract that says you'll pay us this much every month for 10 years and then you find it doesn't work after three months, and like, okay, we've got nine and three quarters years of this liability. So, percentage of revenues is huge, swing back and leverage to the tenant. So, what I see is I see opportunity in bricks, I mean, you have to have, you have to be multi-channel, it's difficult to get above a certain revenue level without offering, you know, access to multiple channels, but in terms of return on investment, return on invested capital, Google and Facebook have such extraordinary control over the digital ecosystem that they've slowly but surely raised rents. I mean, let's talk about Amazon in 2014, the percentage of revenue that they secured from the retailers on their third-party platform was 19%.
Scott Galloway 11:21
So, to pay for their fulfillment to pay for the Amazon Media Group, they got about, you had to pay Amazon about 19% of, 19 cents on every dollar you got on their platform. It's now 34%. So, the consolidation across digital marketing, and Amazon, in terms of e-commerce has just met, those three players every year have raised their rents and so I think what you might have is when you have a decline in the rental power, or the rents of bricks and mortar and an increase in the rents on digital, all of a sudden bricks and mortar begin to look economically viable again, or economically attractive. So, I would argue that if you're in a position to play offense, your return on the investment dollar right now is actually, maybe greater in opening bricks.
Michael LeBlanc 12:07
It's probably one of the ironies of the COVID era is there's a lot of movement and opportunity in physical retail, where your neighborhood Soho, for example, has got lots of space where that used to be such a premium, unattainable, for
Scott Galloway 12:19
Everything’s empty, everything’s empty.
Michael LeBlanc 12:23
a lot of brands.
Steve Dennis 12:24
One of my dreams, Scott is to have you and Marc Andreessen in, like, a cage match, you know, where you, turns out
Scott Galloway 12:31
That guy'd win, he's big, and he strikes me as mean, he does do a lot of media though.
Steve Dennis 12:36
I'm like, I'm not going to comment on that. You know, what, so one question, you talked about how poor the returns have been in, in retail in general, maybe this is as good a time as any to talk about some of these digitally, digital native brands and which have, perhaps staying power, obviously, many of them are moving into physical retail very aggressively, which I certainly find pretty, pretty ironic and what's your take on how many of these digital brands really digitally native brands really have staying power, what people should be paying attention to as we get more IPOs more earnings report?
Scott Galloway 13:09
Well, it sort of, I don't know what's, what's old is new again and that is retail, I mean, channel strategy and supply chain are super important and then obviously, merchandising and voice and when I think of some of the most successful retailers over the last decade, they generally have a few things in common. They're vertically integrated, they not only have they've not only forward integrated into stores, whether it's apple, or you know, I look at what Restoration Hardware it's done with, they're kind of their Grand Palazzos or whatever they call their stores, which I think are just incredibly visionary.
Scott Galloway 13:39
You want to be vertical; you want to control the product, you want to control the distribution to try and maintain margin power and it's very difficult to point to any retailer that's, I mean, kind of what a multi-brand retailer has really killed it. Maybe, Home Depot, you know Walmart's just done okay, I guess but the guys that have outsized returns, you know, you talk about digitally native brands, you know, Warby Parker has done really well but Warby Parker has vertical, proprietary, I think, merchandise value proposition, I mean, they've taken what used to be three and $500 glasses and very fat and happy and come up with Exotica and their stores are wonderful. They started online, but I would argue that the point of differentiation is actually their bricks now, which I think are really inspiring.
Scott Galloway 14:22
I look at All Birds, I think they're going to be challenged. I don't think that their product because the products differentiated in store experiences. Okay, but I wonder if it's sort of too fashionable, and I look at their customer acquisition costs and the way they, they've had some slights of hand and the way they report their numbers. I think they're gonna fall under pressure, you know, and then there's other I wouldn't call a retailer, but I think about, I'm just saying about recent IPOs, On Running had an enormously successful IPO. I think that brand is highly differentiated. So, it's, but when you talk about, you know, just say that you're kind of digitally native. It's like saying your electricity native and that is okay. It's, it's, it's everybody's digital. William Sonoma does a great job online and they, their background is in database-driven catalogs merchandising, so they're just very good at it.
Scott Galloway 15:10
It's well, to be successful, are you great at digital, are you great at bricks and the answer's yes. Right, there's just going to be very few retailers that ever get above a certain watermark in terms of revenues and or margins. Unless they do a really good job of all of them. I look at Nike. Nike, you know, I've consulted to Nike and Samsung for the last decade, and I said the same thing to them every year, you got to go vertical, you got to have a great percentage of sales, controlled in a brand aspirational environment. Nike listened, Samsung did not and IKEA thinks about a third of their revenues, maybe more, it'll probably be half and then five or seven years are done through controlled channels, either their own stores or their own website and I think that's a reason why Nike, which should have been ground zero for destruction, when you think about a brand that should be susceptible to the decline in the advertising industrial complex and broadcast media-, media, you would think, well, Nike won't do well, Nikes done really well, they absolutely skated where the puck was headed, and invested more in vertical.
Scott Galloway 16:06
Whereas I would argue Samsung is gonna have a difficult, difficult time supporting its margins when they have a guy named Roy from Verizon, you know, pushing their product, it's just so long-winded way of saying verticalization multi-channel, you know, I don't I don't think I'm saying anything you guys. Don't get or understand. There's been some recent retail IPOs. I think people always try and position retail as tact, so they get a bigger multiple, but it kind of is the same thing, right. It's supply chain. It's great merchandising, embracing new mediums, but like, I think on running, which is the most successful of them, I think in terms of IPO, they've just done a great job with product and merchandising and voice.
Scott Galloway 16:50
So that's not really changing. I know, one of the most successful retailers the last decade, Restoration Hardware. You know, the CEO, there is not a luddite. You know, he gets you know, he appreciates technology, but he's a merchant and I just walk into those stores, and I look around and I'm just f***in inspired. I want to buy everything, and I want to stay there for lunch and it's just, you just think, wow, this wasn't and it's not, I mean, technology is important. I don't know what's going on behind the scenes in terms of supply chain, but it feels like we're bifurcating into Amazon, and then inspiring, you know, it's like, okay, it's multi brand and if it's getting to me with getting something to me within 48 hours and convenience and selection, Amazon kind of 50 cents on the dollar digitally.
Michael LeBlanc 17:31
Efficiency, your experience, right, I mean, it's a bifurcations and I think we owe Steve now a couple of nickels because that is bifurcation
Steve Dennis 17:39
I get a small fee every time somebody says bifurcation
Scott Galloway 17:41
is that your term
Steve Dennis 17:43
Or an angel gets its wings, I don't know.
Scott Galloway 17:44
Your experience, yeah, that makes sense.
Michael LeBlanc 17:46
Scott, quick last question. I know we're tight on time, your strategy sprints have been getting rave reviews. I know Carl Boutet, who you mentioned did that, I recommended to one of my clients, is that the future of business education beyond, you know, notwithstanding the fact you're an NYC, Stern Prof. Well, how do you see the future of education, and will employers acknowledge and start to recognize that as, as low, check, a legitimate versus traditional kind of University College choices and creds?
Scott Galloway 18:16
Well, thanks. That's a generous question. So, my online ad startup, section four, we're basically trying to take elite business school classes and make them more accessible, you know, $700, or instead of seven thousand, or three weeks instead of 12 weeks, no admissions process, and we're a mission driven organization, if you can't afford to take the course and you want to, we have this very rigorous scholarship process where you send us an email saying you can't afford it and we let you take it. There's got to be an unbundling of universities, they have created artificial scarcity by creating ridiculously, you know, this rejection is culture where they take pride in turning away 90% of their applicants, we have priced ourselves out of the, not out of the market, but I believe one of the greatest distractions and prosperity across the middle class has been the inflation over the unrelenting inflation over the last 40 years of higher education.
Scott Galloway 19:07
I think there's just a ton of opportunity, whether it's Google certificates, or what we're doing in section four, or Tedx or To U these companies are doing great work and I think it's going to place a lot of the schools under pressure, the elite schools will be fine because they can sort of arbitrage their degrees. So, they partner with companies, and they say, hey, get a degree to be a Chief Digital Officer, and you can put it on LinkedIn, and we'll charge you $25,000 and there's a large market. It's 90 points of gross margin. They get 40 points to the online company who's better at acquiring people online, but they're basically kind of arbitraging or milking the brand equity of their great brands.
Scott Galloway 19:45
I think there's a ton of opportunity in, we're already seeing it, more money was raised for edtech startups in the last quarter, then in all of 2020 and 2020 was a record year. So, you're gonna see huge pressure not placed on some of the elite schools, but the second-tier schools that were charging an elite price because we're a corrupt cartel. We raised prices in lockstep and you're going to see, you know, the mother of all chins, is waiting for fists of stone as higher ed, where we have raised tuition 1400% in the last 30 year and you know, and higher ed generally speaking as administrators and faculty, we ask ourselves the same question every day. How do we increase our compensation while reducing our accountability and we've managed to do that with this rejection is culture, where we think we're Birkin bags, not, not, not public servants?
Scott Galloway 20:36
It's very unhealthy for society and cloak ourselves and nobility and self-aggrandizement and arrogance that results in a lack of access to, to education where the elite schools which are still very powerful, are kind of enforcers of the caste system and we, we bring in two cohorts their children of rich kids, you're 77 times more likely to get into an elite university if you're from the top 1% income earning household, 34 of the top 100 schools have more people in the top 1% than the bottom 60 and then the second cohort is what I affectionately referred to as the freakishly remarkable and if by the time you're 17, you're captain, your lacrosse team and have built wells in Africa and have a patent on a vaccine. Congratulations, welcome to Harvard, but I can, I can prove to each of us mathematically that 99% of our children are not in the top 1% and so
Steve Dennis 21:27
Wait, can we go over that again? you had me and then you lost me.
Scott Galloway 21:30
Well, my point, oh, you're being funny.
Michael LeBlanc 21:36
He's a Harvard educated
Steve Dennis 21:37
I was trying to communicate as a Harvard educated.
Scott Galloway 21:39
There you go. Like I think it's a big deal. I, I'm, I, this is a kind of a personal thing for me. When I applied to UCLA, the admissions rate was 74%. Now it's 12%. So, the reason I'm here speaking to you guys is because higher ed used to be seen as a chance to turn unremarkable people and give them remarkable opportunities. Now, it's how do we identify the rich or the freakishly remarkable and turn them into billionaire. So, I hope that, you know, couldn't happen to a nicer group of people. I hope that higher ed, its current institution, is kicked in the nuts over and over for the next 10 years at the hands of startups and also, some universities. I'm being a bit reductive here. Some universities, including the University of California have not lost the script, they've committed to expanding the freshmen seats by 20,000 students over the next decade. So, ASU is doing good work. Purdue refuses to raise their tuition, there are some, there's some real innovation, but I'd like to see what I'd call the gale force winds of disruption, howl like crazy in the world of higher ed,
Steve Dennis 22:44
I couldn't agree more and it's one of the things I really, really appreciate. Not only are all the provocative things you think you talk about in retail and consumerism, but, but I really appreciate the social consciousness that comes through. So, if people are not checking out your podcast and your newsletter and all the things that section four are doing, they'll definitely do that. We'll put links in the show notes, is there anything, Scott, anything new and exciting coming up for 2022 that you want to share that maybe isn't out there quite yet.
Scott Galloway 23:13
I'm writing another book called America and 100 Charts. And I'm trying to find what I think are the 100 most interesting charts that kind of depict where America is and where it's headed. So, I'm excited about that. I got my show on CNN Plus starting in March.
Michael LeBlanc 23:28
Yeah.
Scott Galloway 23:28
So, I got a lot, a lot going on.
Michael LeBlanc 23:30
And a new doggo how's the dog?
Scott Galloway 23:32
That's right.
Michael LeBlanc 23:33
Great Dane.
Scott Galloway 23:34
The Dang, she's great. It's a joy. It's, we have the little one, Gangster and we have the big one and I, It sounds obvious, but I didn't realize how big this Great Dane would get it. How fast, how big it would get, yeah, it's a joy. Do you guys have dogs?
Michael LeBlanc 23:49
Yeah, I got a Rottweiler German Shepherd combo, which is basically smarter than I am. Yeah, with lots with way more energy. So yeah, it's, it's a blast. It's a blast. You're on a similar journey. I got the dog about the same, same time you did.
Steve Dennis 24:03
I think I need to get a dog my, my wife got the dog in the divorce. So, I got a little work to do there.
Scott Galloway 24:08
You know, it really is. I'm fast-, I mean I'm super into dogs, I'm just fascinated about the relationship between humans and beasts and I just, it's one of the most. Maybe this is a negative statement on my life, but it's one of the most rewarding things in my life. I just absolutely love having, having dogs. I think it's hugely rewarding.
Steve Dennis 24:24
We'll wrap it up now, Scott, I know you're obviously a super busy guy doing a lot of interesting things. Thanks, thanks so much for making the time to spend a few minutes with us and hope you have a good holiday season. We'll look forward to everything you're doing next year.
Scott Galloway 24:35
Michael and Steve, thanks so much, and congrats on the pod.
Michael LeBlanc 24:41
Thanks for tuning into this special episode of The Voice of Retail. If you haven't already, be sure to click and subscribe on your favorite podcast platform so new episodes will land automatically twice a week.
And check out my other retail industry media properties, the Remarkable Retail podcast, Conversations with CommerceNext podcast, and The Food Professor podcast with Dr. Sylvain Charlebois. Last but not least, if you're into barbecue, check out my all-new YouTube barbecue show, Last Request Barbecue with new episodes each and every week.
I'm your host, Michael LeBlanc, President of M.E. LeBlanc & Company Inc. and Maven Media. And if you're looking for more content or want to chat, follow me on LinkedIn or visit my website at meleblanc.co
Have a safe week everyone.
SUMMARY KEYWORDS
retail, brands, people, retailers, big, nike, stores, year, twitter, terms, rents, amazon, ipos, scott, business, supply chain, opportunity, bit, lululemon, talk