Omni Talk Retail – Fast Five: Walmart’s Got A New CEO, Google Will Call Stores For You & Target Is Sprinkling Cocoa | November 19, 2025

Episode Overview

In this episode of Omni Talk Retail's Fast Five, hosts Anne Mezzenga and Chris Walton break down the week’s most buzzworthy retail headlines. Key topics include Walmart's CEO transition, Instacart’s latest integration, Primark embracing Buy Now Pay Later (BNPL), Google's bold new AI shopping features, and Target and Starbucks' exclusive holiday collaboration. Special guest Chad Lusk joins for a data-driven look at shifting consumer sentiment just ahead of the holiday shopping season.

Key Discussion Points and Insights

1. Walmart’s CEO Transition: Doug McMillon to John Furner

(05:33 – 11:35)

• Achievements of Doug McMillon (Outgoing CEO)

  • Under McMillon’s leadership, Walmart shares rose 400% (total return), adding ~$576 billion in market cap, with annual revenue surpassing $680 billion.
  • Praised for transforming company culture: "He took Walmart from People of Walmart, the meme, to Walmart for the people." – Anne (10:32)

• Profile of John Furner (Incoming CEO)

  • Started at Walmart in 1993 as a part-timer; led Sam’s Club and Walmart U.S.; known for empathy, approachability, and strategic foresight.
  • "He’s my single favorite person in retail." – Chris (08:14)
  • Emphasizes empathy and curiosity over ego, visible through internal initiatives like a company podcast.

• Leadership Styles & Impact

  • Both leaders valued for “fail fast” culture and reducing corporate politics, credited with enabling innovation and quick product launches.
  • Anne: "When you lead with empathy and curiosity...he's not the smartest person in the room—he's the most curious." (10:58)
  • Both lauded for taking strategic risks, even with hits and misses (e.g., Walmart Commerce Technologies).

2. Instacart x Grocery Deals: Expanding On-Demand Savings

(11:35 – 16:01)

• Integration Details

  • Grocery Deals users now get access to same-day Instacart delivery directly via the app, offering real-time comparison shopping and rapid fulfillment.

• Consumer Impact

  • Anne and Chris both rate their excitement as 8+/10, welcoming greater price transparency and convenience.
  • "I’m not personally going to go to three grocery stores to get the best deals, but now I can justify Instacart going to three places..." – Anne (13:43)

• Industry Implications

  • The move boosts Instacart’s penetration and creates a new competitive lever for both startups and delivery platforms.
  • Chris: "Technology is forcing the playing field to level…Margins are going to compress." (15:12)
  • Recognition for Grocery Deals as an agile startup disrupting traditional grocery shopping habits.

3. Primark Offers Buy Now, Pay Later (BNPL) In-Store

(16:01 – 18:59)

• BNPL Expansion

  • Primark adopts Klarna and Clearpay, letting in-store shoppers split payments with digital wallet integration—even for very low-priced items.

• Market Significance

  • Chris: "You have Primark basically allowing you to buy $4 shirts on installments...There’s no stopping it." (17:30)
  • Adoption curve: BNPL has gone from idea (~2018) to mainstream in just seven years.

• Upcoming Trends

  • Anne shares LendingTree data: In the U.S., 25% now use BNPL for groceries (up from 14% in 2024), signaling necessity, not luxury.
  • Retailers must offer BNPL to remain competitive, especially as little to no risk is attached.

4. Guest Segment – Chad Lusk of A&M Consumer & Retail Group: U.S. Consumer Sentiment

(18:59 – 26:14)

• Spending Trends and Caution

  • While the latest survey shows a rise in spending intent, Chad warns: "It's cautious at best." (19:54)
  • Spending increases mainly among households earning $100K+; lower-income groups remain conservative.

• Category Spending & Price Sensitivity

  • Food & beverage is the only net-positive category—higher spending is driven by inflation more than increased consumption.
  • 60%+ of consumers attribute higher grocery costs to tariffs; 40% have reduced purchases as a result.

• Coping Mechanisms

  • Consumers are switching to cheaper brands (private label) and lower-priced stores.
    • 80% of higher-income respondents buy private label regularly.
    • 58% overall have increased trips to discount retailers—potentially a permanent shift.

• Private Label Surge

  • "Private labels are brands…they no longer stand for generic, they stand for strength." – Chad (23:23)
  • Store brands now seen as high-quality, with 68% saying as good or better than national brands, and 66% citing dietary/lifestyle fit.

• Holiday Shopping Outlook

  • Holiday spending likely flat vs. last year—holiday is now a “budgeted essential.”
  • "Holiday is a little impulsive too…it’s like candy at the checkout aisle." – Chad (25:41)

5. Google’s AI Shopping Suite: Conversational Search, Agentic Checkout, and “Google Call”

(26:14 – 32:54)

• Feature Rundown

  • Conversational AI shopping via Google Search (chatbot with images, inventory, reviews, prices).
  • ‘Agentic’ Checkout enables purchases directly in search from select merchants.
  • Google’s AI can also call stores on a user’s behalf to check product availability and pricing in select categories.

• Host Debate: Is Google Outpacing Other AI Shopping Platforms?

  • Anne sees these as evidence Google can surpass rivals like ChatGPT and Perplexity: "If anyone’s going to be that really true personal assistant for us, I think that these new tactics…are just going to further continue people using Google." (29:12)
  • Chris counters: "Our mind is anchored…on the Google experience that we know today, which can be a hindrance in designing the interface of the future for how agentic AI should work." (30:57)
  • Both criticize the call feature as impractical and likely to sunset.

6. Target & Starbucks’ Exclusive Holiday Drink (+ Cocoa Bar In-Store)

(32:54 – 39:01)

• Frozen Peppermint Hot Chocolate—available exclusively at Starbucks cafes inside Target stores for the holiday season (early access for Target Circle 360 members).

  • Chris: "I love this idea. I freaking love it…It gives people a reason to go to Target." (35:36)
  • Anecdote: “My litmus test…is like, wow, why haven’t they done this before?” – Chris (36:35)

• Retail Experience Upgrades

  • Anne adds that Target is also rolling out weekend hot cocoa bars for families, enhancing the in-store experience: “Leveled-up luxury retail experience in a mass retailer that gets the kids in…makes it a memory.” (37:30)

• Key Takeaway

  • These types of experiences create repeat traffic and emotional attachment to the brand, not just incremental sales.

Notable Quotes & Memorable Moments

• On Walmart's Transformation:
  • “Doug McMillon, in my opinion…is going to go down as the second greatest CEO in the history of Walmart.”
    – Chris (07:20)
• On Consumer Shifts:
  • “Private labels are brands…they no longer stand for generic, they stand for strength.”
    – Chad (23:23)
• On Google’s New Features:
  • “If you’ve ever worked in a retail store, you barely get to the people searching for products who are human beings calling from other stores…they’re not going to get the participation from the retailers.”
    – Anne (29:58)
• On Target’s Holiday Moves:
  • “Creating that memory…It’s definitely the expect more part of the expect more, pay less moniker at Target.”
    – Anne (38:10)

Timestamps for Important Segments

• Walmart CEO transition: 05:33–11:35
• Grocery Deals & Instacart: 11:35–16:01
• Primark & BNPL: 16:01–18:59
• Chad Lusk Consumer Insights: 18:59–26:14
• Google AI Shopping Features: 26:14–32:54
• Target & Starbucks Exclusive/Holiday Cocoa Bar: 32:54–39:01

Tone & Language

The episode strikes a balance between data-driven insight and friendly, occasionally irreverent banter. Both hosts bring personal anecdotes and industry expertise, while special guest Chad Lusk provides analytical gravitas on consumer sentiment.

Summary Takeaways

This episode captures a retail industry in transition: senior leadership handoffs at giants like Walmart, the rise of convenience- and savings-focused tech integrations, the normalization of BNPL—even for minor purchases, and an arms race among tech players to own the customer’s AI-assisted shopping journey. Meanwhile, brands like Target are returning to retail theater and experience to deepen loyalty. Consumers, for their part, remain cautious, strategic, and more willing than ever to switch brands, retailers, and routines in the name of value.

For more, listen to the full episode wherever you get your podcasts!