 Welcome back. So here we have one response from Richard DeLan, and his is the following. So retailers always face pressure to stay competitive. As you have mentioned, Amazon purchase, Amazon's purchase of Whole Foods is a potential game changer. If a company wants to stay traditional brick-and-mortar, they will have to have products that are very competitive or compete on service or another basis. Yeah, and I would add here, I think if the brick-and-mortar want to be still competitive, they need to think about redesigning the role of the traditional store. I mean, with that, they have a huge competitive because they have this physical store and the customers typically go to this store and buy their products. The question is that the variety of items and SKUs that they can keep in store is limited. So the variety of SKUs that an online retailer can offer is higher and this is something that traditional retailers need to consider. So I really believe that there is a great opportunity for retailers to redesign the use of the space of this store. What is the customer experience they want to offer to their customer in the store? So they have already the asset and they have the store in order to offer this as a way that the customer can go there and have some kind of experience. And I agree with this comment about maybe add more service, maybe add more additional experience to the customer in the store and play with the space. They can also use the space or part of this space to prepare online order and offer part of this space as a collect pickup point. Similar to the lockers in the case of Walmart. Similar to the lockers in the case of Walmart, similar to Target is also opening a pickup stores close to the downtown. So a small format just to pick up the online order. So this is another approach. Most of them, the other extreme are the guide shops or the showroom, but the traditional brick and mortar can still play a combination of this grab and go for those fast mover items that they know that their customer always want to have in the store and maybe play with a click and collect point with those that are not fast mover, but some of the customers still want to have. So yeah. Excellent. Thank you. And the answer to the second question is the following. So I think the challenge is determining the right mix of the strategy. I think Bonavos has a great idea with the guide shops so customers can try on the product. But it still keeps the overhead and the inventory. So basically the goal of life here is to mix the strategy. To mix the strategy, yeah. And then to think about that and to design the strategy that fit better with the kind of product they are offering, we need here also to take into consideration some of the features related to the product. There are products that let's say that the non-digital attributes are high. That means that our products that even if you have a great description through the website, customers still want to touch them. Customers still, this happened with the clothes. This happened with glasses. So there are certain products that there are some non-digital attributes that customers still prefer to try physically. So from my point of view, what the retailers need to do is arise segmentation of their product and a right decision about which products fit better in these new guide shops, showrooms, which are those that does not need that and with a good description through the website is enough. So yeah, this is another consideration depending on the product. Also in terms of deliveries and once the retailers are going to consider different deliveries option, the size of the product is something that is very relevant. If the product is heavy, the volume is a big volume. So people much prefer home deliveries versus go to a pickup or collect point for other kind of commodities. People are okay go to a pickup point. So yeah. Okay, so have another respond for one of the rooms. So this place is room two. The answer to the why do retailers need to examine the strategies is this. So a look and feel related expectations mismatch. Virtual trial augmented reality. Yes. Improving search abilities in websites. Yes. And branded products. Yes. So yeah, very good points. Virtual trial augmented reality. Some companies are trying to do that are trying to offer these capabilities and this virtual experience in order to, for instance, the customer kind of a reproduction of the type of person can see how the jacket fit on them. So this is something that some companies are exploring. And yeah, definitely is something that they can add and consider. And the technology definitely is helping here to offer this, yeah, to help the customer to imagine how the product fit with themselves. And also the article mentioned about the glass company. The article mentioned about the glass company and they had a pilot with this augmented reality in order to see how this glass fit with the shape of their face. Yeah. So this is something that definitely a very good point. You also make a great point here with returns and I agree. For online customers, the return policy is something that they consider once they are going to make the decision of buying their product or not in a certain website, the return policy is something that is important. It's important to have an easy way to return the product. In the article also mentioned the example of this lady that bought seven pounds or in order to buy just one. So if it is easy or not easy to return is something that is relevant here. So I think the return policy is something that these companies need to consider. And again, coming back to the traditional brick and mortar, I think one of the relevant competitive advantage that they have here is they can offer their stores, the traditional brick and mortar also as a return point. And at the end, this is an opportunity of a new sale. So you have again the customer there to return their product, but it's an opportunity for a new sale. So this is something that also retailers might consider. So yeah, great points. So in this case, it's related to the second question about the key challenges. So here we have some. So customers shopping as a leisure activity, a shop at the store, deliver information, flow complexity to manage the channel. So basically complexity of the flow to manage this kind of environment. Don't retell the point of view, isn't it? And focus on customer experience, matching the experience level across channels, so that might be also a challenge. Okay, so then from customer perspective again, this is related with the customer experience that the store want to offer. Yeah, same coming as before. This depend on the type of product and of the type of experience that the retailer want to offer to their customer. Nespresso, Nespresso is a good example. You are going to buy coffee and it seems that you are going to buy jewelry. It's like to have a nice experience. They make you feel very well more than by coffee. So this is, I would say the first part is related to this experience that the retailer want to offer to the customer. The second point that you make is from the, and I like this distinction is from the retailer point of view, which are the challenges. So here are different challenges for retailers that want to move to an only channel. One is the visibility of the inventory. The inventory visibility across the supply chain. This is very relevant because at the end, if you are offering different channels to your customer, you need to integrate all of these channels and you are going to offer an availability of an item on the website and the customer decide to buy and pick up in the store and the customer go to the store and they don't have the order there, this is going to generate a lot of frustration. So this is one thing. Another thing is when the customer have a look, if they have the specific product that they want to buy in a store and the website said yes, it's available in the store, they arrive to the store and the product is not anymore available. So this is something that definitely some of the companies are starting with that. They need to try to have a better visibility of the inventory across the supply chain. So one, this is, I fully agree with you guys that this is one of the main challenges that companies have. Thank you Eva. So we have another room, so in this case room number one. So number one, they are saying that Google has a common main source of information. So consumers search reviews. Yes. So shoppers expect a better user experience to have information delivered to them. They need to adapt or they need to stay in behind. Yes. And convenience is personal and each customer will want different things. They need to have some built-in. Yes. So first thing about information, yeah, I fully agree. Those traditional become more that they want to move to e-commerce, one relevant aspect is the information that they are going to provide through the website. The better description of the product, the better way to inform the customers about all of the features about the product is going to definitely help and also is going to help to reduce the number of returns. The number of returns is one of the challenges here too. In e-commerce, in the fast fashion retail industry, in Europe, we have more than 30 percent of returns in this industry. So in general, the percentage of returns in this environment increases a lot and is something that information might help in order to reduce this number of returns. This is one of the of the point, the second point they highlight was? Was the reviews. Yes, the reviews. Yeah, this is related with the new way to buy. This is related also of how technology has changed the way we look for accommodation now. They will look for a trip, to book for a flight. The way we look for a taxi change dramatically and it's basically because of the mobile technology. Most of the information and the decision rely on the reviews of the other. This happened at Airbnb, Uber. We're taking into consideration the reviews, also Amazon, also Lansen. Those companies that are selling their products through online, one of the first things that the customer goes is to go through the reviews and see what others said about this product, which is an excellent source of information and a new way to have this information. Okay, so we have only four minutes left to wrap up. Yeah, okay, sure. I definitely can do that. So great discussion. Guys, I really like the points that you made. I just want to summarize these key challenges. So returns, I already mentioned that as the increase of the returns in this environment and also as the opportunity of new sales for traditional become more that offered stores as a drop of points. Information. Yes, you highlight that. How will customers get the information they need? You point the augmented reality, the virtual reality in order to help this with the technology, also a more detailed description and also these online orders, these online transactions. There are different challenges here. Where to prepare the online order? Some of the traditional retailer are preparing that in store. Some of them are preparing this in the traditional distribution centers and some of them have the specific and dedicated e-fulfillment centers. So this is one of the that retailers need to face and make. Then I want also to highlight these hybrid strategies. Those companies that are offering by online pickup in store, those that are offering research online and purchase in the store, some of them are doing that, the reverse showrooming and also those that we already pointed that are these guide shops or showroom shops that you go there, you just try the product and then you buy online. Also the article mentioned the pop-up stores or these mobile showrooms that they analyze the impact of these mobile showrooms and in the areas that people have this opportunity to try the product, the online sales increase considerably. So something also to take into consideration. So in terms of these showrooms, also they help to reduce the return rates because people can't try the product. So they can make the decision based on if they like or not. Also this effect of increase the online sales based on the study for this paper. I also want to mention to you that there is Adidas Russia case study this is a very interesting case study that described how Adidas decided to introduce omni-channel in Russia. They increased the number of physical stores and these gave them a competitive advantage here in order to introduce the omni-channel strategy. The information technology plays also a key role in the introduction of this omni-channel strategy and make it a success. And finally the person who was leading this initiative was the VP of supply chain management that we conducted here at CTL around table last fall. We brought here more than 25 companies representing different actors in the supply chain and we were talking about the current challenges that they have in omni-channel. And definitely one of the main takeaway of this round table was the key role that supply chain play in the introduction and implementation of an omni-channel distribution strategy. So yeah with that I think this is what I really want to share with you and grab at this case study. I don't know if we have any last question. I think we don't have more time. No, no more time. Okay. Thanks again for being here and for sharing all of your good ideas. My pleasure. Thank you so much. Thank you all for joining this life event. So just a final reminder. Remind that tomorrow we are open the Dmitri Exxon. Good luck. Good luck. Bye.