Omni Talk Retail Podcast Summary
Episode Title: How Intelligent Store Management Solutions Can Surface Problems & Prioritize Actions For Store Teams
Host/Author: Omni Talk Retail
Release Date: April 29, 2025
Introduction
In this insightful episode of Omni Talk Retail, hosts Chris Walton and Anne Mezzenga engage in a deep conversation with Julian Mills, the CEO of Corso and a frequent guest on the podcast. Building on the previous week’s story about Corso’s partnership with Circle K, Julian delves into the rising significance and value of intelligent store management solutions in the modern retail landscape.
The Rising Adoption of Intelligent Management Solutions
Key Drivers Behind Adoption Julian begins by addressing the increasing adoption of Corso’s intelligent management solutions among major retailers such as Circle K, EG, and Walmart Mexico. He highlights the complex nature of store management, where managers are inundated with daily challenges like late truck deliveries, incorrect planograms, and mismanaged promotions.
Quote:
“Running a store is really complex. There are so many things that come at you every day... you need to have a new way of running your store, a new way of using data to surface those problems and prioritize them to the person who can actually take action on them.”
— Julian Mills, 00:39
Julian emphasizes that traditional methods like spreadsheets, emails, or dashboards fall short in effectively addressing in-store issues. Instead, retailers require innovative solutions that leverage data to identify problems and prioritize actionable steps for store teams.
Real-World Applications of Intelligent Management
Promotion Execution Case Study Chris prompts Julian to provide a tangible example of intelligent management in action. Julian shares a case involving a large grocery chain that struggled with promotion execution, where approximately 30% of promotions were not implemented correctly or on time.
Quote:
“We were working with a big grocer. They found that about 30% of promotions weren't being executed correctly or, you know, on a timely basis... suggesting to the relevant manager how much sales they're missing out by not acting on it.”
— Julian Mills, 01:40
Corso’s solution tracked sales ramp-up during promotions, alerted managers to underperforming promotions, and quantified lost sales opportunities. This not only highlighted implementation issues but also provided actionable insights for department and store managers. Additionally, Corso connected these issues to higher management levels, enabling district managers to offer coaching where needed.
Building the Business Case for Intelligent Management
Cost-Effectiveness and ROI Anne raises a crucial point about forming a business case for such solutions, questioning how retailers can quantify the benefits. Julian responds by outlining Corso’s value proposition, noting that their solution costs approximately 3% of traditional methods like cameras or robots, which can be up to 30 times more expensive.
Quote:
“We're outrageously good value. We are about 3% of the cost of, you know, putting in cameras or robots or something like that... doing hundreds of use cases and they probably do a couple.”
— Julian Mills, 03:11
Direct Benefits:
- Business Improvement: Achieving 50-120 basis points in sales uplift, 30 basis points in shrink reduction, 20% reduction in overtime, and a 20% improvement in store standards.
- Time Savings: Managers save 10-15% of their time by eliminating the need to navigate multiple apps and reports, allowing them to focus on real-time issue resolution on the sales floor.
- Simplified Technology Stack: Corso consolidates multiple applications into one platform, offering a 30% saving on technology management.
Barriers to Adoption
Resistance to Outsourcing Data Management Anne observes that despite the intuitive benefits, not all retailers have adopted intelligent management solutions. Julian identifies two main objections:
-
Desire to Build In-House Solutions:
- Many retailers believe they should develop their own data solutions. Julian counters this by pointing out the rarity of successful in-house implementations and questions the practicality of such endeavors.
Quote:
“A lot of retailers think anything to do with data they should be building themselves. I don't think anyone has done that yet, and the promise is getting a little bit thin.”
— Julian Mills, 04:40 -
Access to IT Resources:
- Retailers often face challenges in allocating IT resources for deploying new solutions. Julian cites Circle K’s experience, noting that Corso was implemented in approximately 25-30 hours of IT time—a minimal investment compared to other technologies.
Quote:
“Even getting, you know, three, four days of someone's time could be quite difficult.”
— Julian Mills, 05:30
Addressing Concerns and Misconceptions
Data Security and Proprietary Analytics Julian addresses retailers’ concerns about data security and the protection of proprietary analytics. He explains that Corso can be configured so that data remains within the retailer’s environment, alleviating fears about data leakage.
Quote:
“You can set up Corso so the data never leaves your environment... Corso is a platform you can use to set up and operationalize those things very quickly.”
— Julian Mills, 05:42
He further reassures retailers that their unique analytics methodologies can remain confidential while still benefiting from Corso’s platform, which facilitates quick deployment and scalability.
Conclusion
The episode concludes with hosts Chris and Anne expressing their appreciation for Julian’s insights, highlighting the intuitive and transformative potential of intelligent store management solutions. Julian’s articulate explanations and real-world examples effectively illustrate how Corso is revolutionizing store operations by leveraging data to streamline management processes, enhance efficiency, and drive significant business improvements.
Final Quote:
“Great stuff, Julian, man, so insightful and so articulate and it's just so intuitive. And I love having Julian on.”
— Anne Mezzenga, 06:26
Key Takeaways
- Complexity of Store Management: Modern retail environments are fraught with daily operational challenges that traditional management tools fail to address effectively.
- Value Proposition of Intelligent Management: Solutions like Corso offer cost-effective, scalable, and efficient ways to manage store operations by leveraging data-driven insights.
- Building a Strong Business Case: Quantifiable benefits in sales uplift, shrink reduction, time savings, and technology simplification make a compelling case for adoption.
- Overcoming Adoption Barriers: Addressing concerns about in-house data solutions and IT resource allocation is crucial for wider adoption.
- Data Security and Confidentiality: Ensuring data remains within the retailer’s environment and protecting proprietary analytics are essential for gaining retailer trust.
This episode of Omni Talk Retail provides a comprehensive understanding of how intelligent store management solutions can transform retail operations, making it a must-listen for retail professionals seeking to enhance their store management strategies.