00:00:05Walmart's Controversy Over Self-Checkout Removal
00:10:37Food and Climate Change
00:19:53Food Price Forecast for 2024
00:27:44Comments, Break, and Future Broadcast
درباره این اپیزود
Prepare to have your curiosity piqued as we unravel Walmart's self-checkout conundrum and discover their innovative solution to streamline your shopping experience. We're not just talking about technology; we're also casting a light on Walmart's commendable initiative to offer a comfortable environment for shoppers with autism and sensory concerns. It's a discussion that merges the future of retail tech with social responsibility, all wrapped up in our final show of the year before we take a brief respite.
Switch gears with us to the urgent topic of food's impact on the climate, fresh from the COP28 outcomes. We lay bare the promises and the pressing need for real action in reducing emissions from agriculture. But it's not all serious talk; we're also diving into the whimsical side of social media with the surprisingly lucrative world of pet influencers. Plus on #FoodNotPhones, the movement that's inspiring families to forge stronger bonds away from the digital distraction at dinner time.
Join us as we forecast the trajectory of food prices into 2024 with Dr. Ricky Volpe Ph.D, sharing a glimmer of hope amidst economic uncertainty. We're also looking back at the #GentleMinions trend that swept through the nation and current boys' fashion signaling a stylish comeback in youth culture. It's a heartwarming note to end on as we thank our devoted listeners and set our sights on returning January 9 with more engaging content.
انگلیسی
ایالات متحده آمریکا
یادداشت ها را نشان دهید 🔗
رونوشت 🔗
WEBVTT
00:00:05.150 --> 00:00:06.833
Welcome to the Lempert Report LIVE.
00:00:06.833 --> 00:00:16.407
On today's broadcast, Lots on Walmart removing self-checkouts or not, and in-store acknowledgement for autism.
00:00:16.407 --> 00:00:20.548
What happened at COP28, we've got the top- line.
00:00:20.548 --> 00:00:25.690
Instagram is going to the dogs, literally and profitably.
00:00:25.690 --> 00:00:34.122
On Food not Phones, a national poll on children's health points to the parents and on Lost in the Superm arket.
00:00:34.122 --> 00:00:40.723
A conversation with Dr Ricky Volpe of Cal Poly on the 2024 prices of food.
00:00:40.723 --> 00:00:47.411
A fun year-end bullseye on why boys are wearing suits and what that means for us all.
00:00:47.411 --> 00:00:55.302
A programming note as we enter the holiday season, the Lempert Report LIVE will be on break for the holidays.
00:00:55.302 --> 00:01:01.411
This will be our last broadcast for 2023 and we'll meet back here on January 9.
00:01:01.411 --> 00:01:03.863
In the meantime, be sure to check out SupermarketGuru.
00:01:03.863 --> 00:01:11.828
com as well as our social media channels, as we will continue to post throughout the holidays.
00:01:11.828 --> 00:01:13.203
Let's get started.
00:01:14.159 --> 00:01:16.346
So, Sally, some weird news.
00:01:16.346 --> 00:01:24.552
You know, Walmart, it was reported, that they were removing self-checkout in Maine and Massachusetts.
00:01:24.552 --> 00:01:31.462
Then all of a sudden, this follows up that they removed self-checkout in New Mexico earlier this year.
00:01:31.462 --> 00:01:37.590
Then it comes out that Walmart is not removing self-checkouts.
00:01:37.590 --> 00:01:40.063
That came out just yesterday.
00:01:40.063 --> 00:01:43.171
So we have this controversy going back and forth.
00:01:43.171 --> 00:01:53.287
But the interesting thing is what Walmart is really trying to do is they're trying to promote their new hosted checkouts.
00:01:53.287 --> 00:01:55.302
Now what a hosted checkout is?
00:01:55.302 --> 00:02:10.487
It's self-scan, but they have an associate or a cashier there that can show customers how to use the self-checkout, help them through the checkout process and answer any questions that they might have.
00:02:10.487 --> 00:02:13.367
So it's really a hybrid that they're looking at.
00:02:13.367 --> 00:02:18.790
They want to keep self-checkouts, but they're going to put employees there to help shoppers.
00:02:18.790 --> 00:02:30.229
And this is very strange about this controversy where they're saying no, we're not going to take them, but yet there's reports that they are going to take them out.
00:02:30.229 --> 00:02:31.231
What do you think?
00:02:31.231 --> 00:02:37.312
Do you think Walmart just get rid of these self-checkouts, or does the Walmart shopper really want them?
00:02:39.639 --> 00:02:40.521
Good question.
00:02:40.521 --> 00:02:46.397
A couple of weeks ago we discussed self-checkout, which was a very popular story for us here.
00:02:46.397 --> 00:02:55.514
We had a lot of people commenting on that when we brought up the story of Booths supermarket chain in the UK and how they are removing them and for the reasons for that.
00:02:55.514 --> 00:03:02.447
So it is a highly relevant topic right now and on people's minds Now.
00:03:02.447 --> 00:03:09.349
Walmart did remove some self-checkout machines, to clear up the confusion, in some New Mexico locations this year.
00:03:09.349 --> 00:03:18.019
I don't know what those specific reasons were for those locations or if they were just trying it out to see how their customers responded.
00:03:18.419 --> 00:03:20.364
But yes, they are calling.
00:03:20.364 --> 00:03:27.725
They have named their cashiers that work now at the self-checkout stands.
00:03:27.725 --> 00:03:35.844
You said it for me it's 'self-checkout hosts' and this is a great name for them.
00:03:35.844 --> 00:03:45.931
I'm not sure how much different that is from the people that stand at the checkouts in Kroger or Publix or any other grocery store I've been.
00:03:45.931 --> 00:03:53.370
So what would be interesting to me is to see if they're going to give them this name, which is a very positive name.
00:03:53.370 --> 00:03:54.457
I do love it.
00:03:54.457 --> 00:03:58.169
But are they going to go a little bit beyond?
00:03:58.169 --> 00:04:03.942
You know, go the extra mile, like maybe help bag your groceries, help put your groceries in your cart.
00:04:03.942 --> 00:04:11.875
You know, we definitely know that there are people that use self-checkout sometimes that have more challenges than others, you know.
00:04:11.875 --> 00:04:18.619
So are they going to step in and help those people, or are they there to just make sure that we're not shoplifting?
00:04:19.562 --> 00:04:29.447
Exactly, and that's what came into my mind as well, as we're seeing more retailers putting guards by the self-checkout, looking at your cash register receipt.
00:04:29.447 --> 00:04:45.574
But the other thing that's notable is, in a lot of Walmart's, what they've done is they've made their self-checkouts with a long belt so similar to your traditional checkstand, so that you could pile more things on them.
00:04:45.574 --> 00:04:48.120
So we'll see what happens with Walmart.
00:04:48.120 --> 00:04:50.446
I still think that self-checkout is dead.
00:04:50.446 --> 00:04:54.545
I think we need a next iteration of that technology.
00:04:54.865 --> 00:05:14.500
But one thing I love that Walmart is doing, and they're really following suit on what Kohls in Australia started a number of years ago, where they're having these sensory friendly environments for two hours a day, 8 am to 10 am, in all of its US and Puerto Rico stores.
00:05:15.483 --> 00:05:47.172
It started a couple months ago with the back-to-school season and now it's going to be indefinite for them and basically, what they've done is they've really finally acknowledged the fact that we have a population that has sensory issues, whether it's autism or ADHD, and whether it's customers or even some store employees that are afflicted with this.
00:05:47.172 --> 00:06:16.425
So Walmart is doing the right thing here to be able to tone it down a bit and, frankly, what I hope happens is the test becomes so not test, but this effort becomes so successful that what we start to see are stores around the nation doing the same thing, and not just for people who are sensitive to sensory barrages, but everybody.
00:06:16.425 --> 00:06:24.607
I'd like to be able to go into a store where it's quiet and, sure, maybe have Barry Manilow music playing on the loudspeaker.
00:06:24.607 --> 00:06:29.942
But let's calm it down a little bit, because I go into these stores.
00:06:29.942 --> 00:06:42.298
You have these people unpacking, you have things on the loudspeaker and this quiet time is really terrific, and we're starting to see this happen in other environments as well.
00:06:44.600 --> 00:07:04.545
Yes, right now we are looking at one in 36 children in the US that are diagnosed with autism, and I'm really glad you brought up ADHD as well, because there are other conditions that people experience and that they present challenges for them when it comes to their senses and sensory overload.
00:07:04.545 --> 00:07:10.012
This is a wonderful effort by Walmart for diversity and inclusion.
00:07:10.012 --> 00:07:19.264
They yes, dim the lights, less announcements, creating a better shopping experience for those who are challenged.
00:07:19.264 --> 00:07:23.170
This is also great for parents of children with autism.
00:07:23.170 --> 00:07:24.805
They need to go out to the store.
00:07:24.805 --> 00:07:30.769
They got to take their kids with them, and so you know this makes their trip a little bit easier on them.
00:07:31.300 --> 00:07:50.112
And the shopping hours are from 8 to 10 in the morning, so you know it's not, it hasn't been extended throughout the day, and you know a lot of people think that maybe even people who don't have sensory issues, like you're pointing out, might want to shop in those hours too, because it's calmer.
00:07:50.112 --> 00:07:52.245
And you know what I bet, phil, is.
00:07:52.245 --> 00:08:05.122
I bet, when you are calmer and you are feeling more positive and comfortable in a store, that, one, you might choose healthier foods, but, two, you might spend more.
00:08:06.500 --> 00:08:12.016
And you know there is a correlation the time that you spend in the store to how much money you spend.
00:08:12.016 --> 00:08:17.583
So if we can calm it down, people spend more time in the store, they'll enjoy it more and they'll buy more.
00:08:17.583 --> 00:08:21.588
And it's not just supermarkets yeah, walt Disney World is doing it.
00:08:21.588 --> 00:08:27.411
Pittsburgh International Airport has the first century friendly room at a US airport.
00:08:27.411 --> 00:08:33.169
Also, airports have followed through in Newark, new Jersey, miami and Phoenix.
00:08:33.169 --> 00:08:43.751
Synergy Entertainment that's a nine theater chain has a children's movie one Saturday morning a month where they reduce the volume.
00:08:43.751 --> 00:08:50.090
They brighten the lights because they receive guidance that too dark of a space can be frightening to kids.
00:08:50.090 --> 00:08:51.393
So this is all great.
00:08:51.393 --> 00:08:52.846
We finally have this awareness.
00:08:52.846 --> 00:08:56.508
So kudos to Walmart for doing it.
00:08:56.950 --> 00:08:57.991
Cop28.
00:08:57.991 --> 00:09:02.029
You know we had a lot of discussions about it.
00:09:02.029 --> 00:09:10.544
Frankly, I want to do a shout out to Erin Fitzgerald, the former CEO of US Farmers and Ranchers in Action.
00:09:10.544 --> 00:09:18.192
She's the one who really started agriculture going to COP28 a couple years ago.
00:09:18.192 --> 00:09:25.789
She brought farmers there, she started the dialogue and now this year we had more farmers there than ever before.
00:09:26.419 --> 00:09:33.562
And it's important to note that our food system accounts for around 30% of global green house emissions.
00:09:33.562 --> 00:09:36.190
From farm to fork to garbage dump.
00:09:36.190 --> 00:09:42.671
It's a major culprit in biodiversity loss, which is why we need farmers at the table.
00:09:42.671 --> 00:09:58.544
And you know, davey of the World Resources Institute, who works with COP28, said for the first time there's a broad acknowledgement that the food agenda is aligned with the climate fight across the board.
00:09:58.544 --> 00:10:05.202
More than two thirds of the world's countries endorsed an agreement to retool the global food system.
00:10:05.202 --> 00:10:06.267
That's great.
00:10:06.267 --> 00:10:17.490
Un Food Agency issued a landmark report laying out what it would take to align the global food system with the goal to limit average global temperature rise to manageable levels.
00:10:17.490 --> 00:10:26.544
United States and the United Arab Emiratis together committed about $17 billion towards ag innovations.
00:10:26.544 --> 00:10:36.869
So we're seeing some really good things coming out of COP28, but also some controversy that not everybody thinks that it's going to happen.
00:10:36.869 --> 00:10:37.883
What's going on here?
00:10:40.085 --> 00:10:40.265
Yes.
00:10:40.265 --> 00:11:07.312
Well, there is much debate and, while there are, it is very positive to hear that food is on the table at COP28 and that it has become a bigger part of the discussion so that's good news and that 154 countries have signed on committing to these goals of reducing our agricultural emissions and trying to reach this next round of climate targets.
00:11:07.312 --> 00:11:24.302
However, what we're hearing is that there can be a lot of talk but less action, and that we have a need for more governments to step up and to create more finances for these programs.
00:11:24.302 --> 00:11:29.831
We've also heard about the different challenges in different parts of the world.
00:11:30.981 --> 00:11:36.123
In the US here, food experts are saying that we need to learn how to eat less meat and dairy.
00:11:36.123 --> 00:11:51.693
That's our way of tackling this, but then in other parts of the world, we're hearing agricultural production needs to be increased, or crop diversity needs to be increased, or, in some areas, we need to work on deforestation.
00:11:51.693 --> 00:11:59.072
So there are several different issues here that can be unique to different regions of the country.
00:11:59.072 --> 00:12:06.086
So it will be really important to see how the governments of these countries step up and also how the food industry.
00:12:06.086 --> 00:12:23.250
I was really glad to see that food executives were at COP28 in getting in on the conversation and we are starting to see more corporations come out and make commitments to reducing waste, make commitments to reduce emissions, and hopefully we'll see more of that.
00:12:24.211 --> 00:12:24.773
Absolutely.
00:12:24.773 --> 00:12:27.005
And back to the controversy.
00:12:27.005 --> 00:12:29.113
There's things like the global stock take.
00:12:29.113 --> 00:12:33.469
That provides a guide for countries' new climate plans.
00:12:33.469 --> 00:12:36.619
It's supposed to be finalized by 2025.
00:12:36.619 --> 00:12:42.326
But some experts say it ignores the need to cut emissions from food and agriculture.
00:12:42.326 --> 00:12:45.067
So the conversation is going.
00:12:45.067 --> 00:12:46.224
That's the good news.
00:12:46.224 --> 00:12:50.445
But, to your point, we need to have a lot more than just conversation.
00:12:50.445 --> 00:12:58.928
We need to have commitments, and that's from the smallest food factories here in the US and globally to the largest ones.
00:12:58.928 --> 00:13:09.764
So hopefully we get them to sign on and hopefully it's a wake up call before it's too late and agriculture really has to make some significant changes just to feed the planet.
00:13:11.779 --> 00:13:13.767
Instagram is going to the dogs.
00:13:13.767 --> 00:13:30.207
I said that already, but it's interesting that there's a new study by a pet nutrition expert at Pet Lab who's established Instagram's dogs who can earn the most money through simple sponsored posts.
00:13:30.207 --> 00:13:31.451
Never thought about this.
00:13:31.451 --> 00:13:35.923
I thought about influencers making tons of money with their posts.
00:13:35.923 --> 00:13:56.086
Some come under controversy and critique but I never thought that you have all these dogs Dogs plus one, and I'll get to that in a second but here's, and you have a couple dogs, so maybe you can get your dog.
00:13:56.086 --> 00:13:57.303
You have three dogs, right?
00:13:58.466 --> 00:14:00.003
I have three dogs, and I got to tell you.
00:14:00.003 --> 00:14:13.389
I wish I knew about this, because one of my dogs was on an Instagram account that has millions of followers not too long ago doing his little Elvis smile, and so I should have just capitalized on that.
00:14:13.450 --> 00:14:14.052
You should have.
00:14:14.052 --> 00:14:14.902
I didn't know.
00:14:14.902 --> 00:14:16.687
Your dog had an Elvis smile.
00:14:16.687 --> 00:14:23.912
So the number one richest dog on Instagram named Jif Palm.
00:14:23.912 --> 00:14:28.870
It's a tiny pomeranian puppy who likes to dress up.
00:14:28.870 --> 00:14:37.383
He may owe some of his fame to Katy Perry, as he actually appeared in her music video for the song Dark Horse.
00:14:37.383 --> 00:14:50.972
He has, I guess it's a he, had 9.3 million followers and he can make $53,200 per sponsored Instagram post.
00:14:50.972 --> 00:14:53.467
He's the most successful dog on Instagram.
00:14:53.467 --> 00:14:55.085
Then there's Doug the Pug.
00:14:55.085 --> 00:14:58.389
He's the second highest earning dog.
00:14:58.389 --> 00:15:10.691
He has over half a million followers no, sorry, 3.6 million followers and he earns $26,100 per post.
00:15:10.691 --> 00:15:13.024
Then there's Juniper.
00:15:13.024 --> 00:15:15.164
Juniper is not a dog.
00:15:15.164 --> 00:15:23.589
I'm not sure why Juniper is in this list, but Juniper is number three and Juniper is the happiest fox.
00:15:24.200 --> 00:15:40.692
I actually went to Juniper's website, which is a very slick, very cool website, and she has 2.9 million followers and she makes $22,300 per post.
00:15:40.692 --> 00:15:47.448
And the list goes on and on and on, and I had no idea what that.
00:15:47.448 --> 00:15:48.591
This was even a thing.
00:15:48.591 --> 00:16:00.308
And Christopher Masanto, who's the co-founder of PetLab, commented we love to see dogs all over social media, so we're all for those sharing their pups on Instagram.
00:16:00.308 --> 00:16:12.442
It's great, with all these huge followings, to see that so many people are on the same page and incredible to see how that converts to earning potential for these amazing pets what I wish they did.
00:16:12.442 --> 00:16:19.030
And whenever I go on TikTok I always have some pet thing coming up on TikTok.
00:16:19.030 --> 00:16:25.908
I wish somebody would do this on TikTok to rank them, because some of the ones on TikTok are hilarious.
00:16:25.908 --> 00:16:30.296
I like those Just in Instagram posts, not so exciting.
00:16:32.864 --> 00:16:48.126
Yes, and there are so many apps out there right now that you can take a video or a picture of your dog and add a voiceover and make your dog's mouth move so that it looks like your dog is saying these things.
00:16:48.126 --> 00:16:49.686
So there's a lot of creative things.
00:16:49.686 --> 00:16:56.225
And I also want to point out, Phil, that in the list you were listing the top performing dogs on Instagram.
00:16:56.225 --> 00:17:02.918
There are some also that are not even still with us, so if you've lost your dog, you mean they're dead?
00:17:03.039 --> 00:17:04.163
They're dead making money.
00:17:04.163 --> 00:17:11.951
Yes, Sally, I've just got to wonder if this is the beginning of the end of civilization.
00:17:11.951 --> 00:17:19.343
I just with everything that's going on, the fact that we now have dead dogs making money on Instagram.
00:17:19.343 --> 00:17:53.170
Oh well, so to a much cheerier topic than dead dogs today, on FoodN otP hones, we're going to talk about a new survey from the University of Michigan Health, the CS Mott Children's Hospital National Poll on Children's Health, and what they found is nearly three and four parents polled report making resolutions or setting personal goals throughout the year, with a quarter of them hitting the reset button as the clock strikes midnight for 2024.
00:17:53.170 --> 00:18:10.338
It's interesting, and why this is partially important to the Food Not Phones Initiative that continues and continues to grow, is that 25% sorry, more than half wish.
00:18:10.338 --> 00:18:15.211
These are the parents wish to spend less time on their phone.
00:18:15.211 --> 00:18:20.231
They feel that if they spend less time on their phone, they're going to become better parents.
00:18:20.231 --> 00:18:21.162
What do you think?
00:18:22.799 --> 00:18:46.972
I'm really glad to see this research out and, as a parent, one who has had children, young children, through the shutdown, and seeing that during the shutdown, as parents working parents with kids at home, going to virtual school and socializing virtually that we kind of had to let some of this go for a little while.
00:18:46.972 --> 00:18:49.646
But now we're trying to dial that back.
00:18:49.646 --> 00:18:55.242
We're seeing the consequences of it and we're trying to dial that back and it is good to hear.
00:18:55.242 --> 00:19:12.111
One of the great things I saw that came out of the study was that families are talking about looking for opportunities for self-reflection, emotional health, connecting with their community and less screen time, less time on their phones.
00:19:12.111 --> 00:19:28.630
So remember how we've talked about as parents, as adults, if we want our kids to put those phones down, especially at mealtime when we're all gathered around, then we've got to be able to do that too and we've got to set that goal for ourselves and as a parent.
00:19:29.519 --> 00:19:32.827
Absolutely, and just a reminder, go to FoodNotPhones.
00:19:32.827 --> 00:19:49.923
com not only to see what this initiative is all about, but check out our survey that was done by Acosta with their consumer panel and a lot of surprises there about who is on their phones, and parents certainly are at risk as well.
00:19:49.923 --> 00:19:51.102
Thanks, Sally.
00:19:51.102 --> 00:19:53.624
On Lost in the Supermarket.
00:19:53.624 --> 00:19:56.711
I spoke with Professor Ricky Volpe, Ph.
00:19:56.711 --> 00:20:03.430
D of Cal Poly, about food prices for 2024 and his forecast on what comes next.
00:20:03.430 --> 00:20:07.546
For the complete episode, just go to supermarketgurucom.
00:20:07.546 --> 00:20:09.450
And here's what he had to say.
00:20:09.450 --> 00:20:18.215
As we enter in just a couple weeks from now 2024, what's your outlook?
00:20:18.215 --> 00:20:19.738
What are we going to be looking at?
00:20:19.738 --> 00:20:21.886
You know the headlines continue.
00:20:21.886 --> 00:20:23.462
Food prices are up.
00:20:23.462 --> 00:20:32.768
We just saw a report over the past couple of days that it looks like egg prices are gonna go back up because of yet another strain of bird flu.
00:20:32.768 --> 00:20:40.006
So give us the 101, What are we looking at for 2024 as it relates to food prices?
00:20:41.019 --> 00:20:42.886
Yeah, I think that's a great place to start.
00:20:42.886 --> 00:20:57.280
I think I'm optimistic that food price inflation is going to continue to come down, but I have to be very careful and be clear that that does not mean food prices are going to come down, right.
00:20:57.280 --> 00:21:04.786
Yeah, I mean, probably most of your listeners are aware of this, but food prices in a nominal sense very rarely come down.
00:21:04.786 --> 00:21:12.088
In fact, we've had that happen once on a national scale, having nominal food prices decrease year over year.
00:21:12.088 --> 00:21:15.309
We've had that happen once in the last 60 odd years.
00:21:15.309 --> 00:21:18.925
It happened in 2016 and I don't expect it's gonna happen in 2024.
00:21:19.420 --> 00:21:27.588
If you look at the current USDA forecasts the food price outlook, which that's the first place I look to when I'm curious to see what's the consensus.
00:21:27.588 --> 00:21:28.423
Where are things gonna head?
00:21:28.423 --> 00:21:38.228
Right now, USDA is forecasting the widest range that I have ever seen for food price inflation, going into a calendar year, you know ever.
00:21:38.228 --> 00:21:49.387
It ranges from significant deflation to very, very high, much higher than average inflation, and I think that represents just a lot of uncertainty with all the moving pieces that are affecting food prices.
00:21:49.387 --> 00:21:56.561
But I will tell you that most of the metrics that I follow, that I keep an eye on, most of them.
00:21:56.561 --> 00:22:07.711
There are, of course, exceptions, you mentioned eggs but most of them are moving in the right direction, and by 'right direction' what I mean is returns to historical norms and returns to relative stability.
00:22:07.711 --> 00:22:10.269
So we're seeing meat prices come down.
00:22:10.269 --> 00:22:12.227
Most fruit and vegetable prices come down.
00:22:12.227 --> 00:22:18.489
We're seeing low and stable outlook for most major US egg commodity prices.
00:22:18.489 --> 00:22:26.723
We're seeing a slow but steady recovery in energy prices, particularly relative to the highs we saw in the middle of last year.
00:22:27.819 --> 00:22:29.224
A lot of challenges still remain.
00:22:29.224 --> 00:22:30.128
We can dig into that.
00:22:30.128 --> 00:22:38.507
There's still a lot of supply chain challenges in terms of distribution and logistics and, of course, there's a global conflict, particularly what's going on in UK and Russia.
00:22:38.507 --> 00:22:45.829
That's continuing to affect things like grain markets, oils, cooking oils, preservatives, some raw materials.
00:22:45.829 --> 00:22:47.404
There are definitely challenges.
00:22:47.404 --> 00:23:05.651
I will tell you right now that I am optimistic for year over year grocery prices coming back down to about that 2.5, 3% level, which means, of course, food prices will be going up again in 2024, but by about half what they're going up this year in 2023.
00:23:09.567 --> 00:23:10.288
On the bulls eye.
00:23:10.288 --> 00:23:19.859
No one seems to be able to pinpoint exactly when the fashion trend started, but the fashion trend of boys wearing suits, it's upon us.
00:23:19.859 --> 00:23:26.855
The tradition of young boys wearing suits actually dates back to the late 19th and early 20th centuries.
00:23:26.855 --> 00:23:32.566
During this period, children's clothing was a direct reflection of adult fashion.
00:23:32.566 --> 00:23:38.595
It wasn't uncommon to see young boys dressed in miniature versions of their father's suits.
00:23:38.595 --> 00:23:48.083
This trend was particularly prevalent among the upper classes, where formal attire was a symbol of status and respectability.
00:23:48.083 --> 00:23:56.279
A notable shift occurred then in the late 19th century, with the introduction of the sailor suit for boys.
00:23:56.279 --> 00:24:06.063
Inspired by naval uniforms, these suits became immensely popular and were considered both stylish and suitable for everyday wear.
00:24:06.063 --> 00:24:18.487
The sailor suit, with its nautical flair, marked the beginning of age-appropriate dressing for children, offering more comfort and freedom of movement than the traditional suits did.
00:24:19.654 --> 00:24:25.576
Then the roaring twenties came, and the 1920s brought significant changes to children's fashion.
00:24:25.576 --> 00:24:33.627
With the growing emphasis on comfort and practicality, the rigid formality of the past began to wane.
00:24:33.627 --> 00:24:43.301
Boys' suits became simpler and more functional, reflecting the casualization of dress that was sweeping through adult fashion as well.
00:24:43.301 --> 00:24:49.905
Following World War II, there was a brief resurgence in traditional dressing for boys.
00:24:49.905 --> 00:24:56.987
The 1950s saw a return to formality, with suits for young boys regaining popularity.
00:24:56.987 --> 00:25:09.646
This period is marked by a blend of classic styles with new, more comfortable fabrics and relaxed tailoring accommodating the needs of an increasingly active youth.
00:25:09.646 --> 00:25:20.900
It's fast-track forward and the July 2022 release of Minions, the Rise of Gru became yet another milestone in boys' fashion.
00:25:21.381 --> 00:25:39.928
As teenage boys hit movie theaters in their eighth-grade graduation finest, most of the time wearing dark sunglasses, to make their fashion statement official, their swagger was part businessman, art, secret service man with a dash of self-awareness.
00:25:39.928 --> 00:25:51.442
According to NPR, on TikTok, the fashion trend under the #Gentle Minions and related hashtags reached over 100 million views.
00:25:51.442 --> 00:26:04.007
The junior male fashionistas were so impactful that some movie theaters did what I consider a really dumb thing and banned the wearing of fancy suits at their screenings.
00:26:04.007 --> 00:26:07.884
Right, let's ban kids from dressing up and having fun?
00:26:07.884 --> 00:26:09.376
No comment.
00:26:09.376 --> 00:26:23.557
The idea of dressing up became a cult-like phenomenon and, in my opinion, added a bit of class to an age group of pre and teen boys that typically were known for well just being slobs.
00:26:24.775 --> 00:26:33.824
Just last week, according to a column in the Washington Post, two eight-year-olds third-graders in Chelsea, Maine, came to school dressed in suits.
00:26:33.824 --> 00:26:42.188
James Ramage and Lincoln Bolitho added a bit of panache to Chelsea Elementary School.
00:26:42.188 --> 00:26:57.557
James asked his parents for a suit for his seventh birthday and started wearing it to school when he was in the first grade and now, with his bud, lincoln, they're the dashing duo who wear suits to school every Wednesday.
00:26:57.557 --> 00:27:03.286
Teachers, their bus driver and now even other students have all joined in.
00:27:03.286 --> 00:27:13.284
The school is encouraging students and staff and sent out a notice to encourage everyone to join in on what is now called 'Dapper Wednesday'.
00:27:14.194 --> 00:27:23.765
James and Lincoln report that they're receiving lots of compliments and say that when people say that they look good, it just made my heart feel real good.
00:27:23.765 --> 00:27:32.241
They said it's a wake-up call for us all as we enter a new year and put the work styles of the past few years behind us.
00:27:32.241 --> 00:27:35.784
Wouldn't it be great to have all of our hearts feeling good?
00:27:35.784 --> 00:27:42.326
And if all it takes is brushing off that student's eye, hey, it's kind of easy.
00:27:42.326 --> 00:27:46.000
So, Sally, let's check the Q&A.
00:27:46.000 --> 00:27:48.038
Do we have any comments today?
00:27:48.922 --> 00:27:49.363
We do.
00:27:49.363 --> 00:27:54.079
We have a comment from John Pandol and he says, with a hot excuse me.
00:27:54.079 --> 00:28:01.023
He says "a minute in the store, a dollar in the drawer, yep, calm and peaceful shopping is the ticket.
00:28:02.176 --> 00:28:05.345
Well, John, as always, thanks for your insights.
00:28:05.345 --> 00:28:06.758
Very well said.
00:28:06.758 --> 00:28:15.342
And, John, to you and your family, thank you for everything that you do for our industry, Yours to a great 2024.
00:28:15.342 --> 00:28:20.546
And thanks for being one of our strong supporters here at the Lempert Report Live.
00:28:20.546 --> 00:28:27.186
A reminder we'll be on break for the holidays and this will be our last broadcast for 2023.
00:28:27.186 --> 00:28:29.781
And we'll meet back here on January 9th.
00:28:30.494 --> 00:28:31.416
Be sure to visit SupermarketGuru.
00:28:31.416 --> 00:28:40.865
c om for the latest marketing analysis issues and trends, and don't forget to join us back here next Tuesday at 2.30 pm Eastern for more.
00:00:05.150 --> 00:00:06.833
Welcome to the Lempert Report LIVE.
00:00:06.833 --> 00:00:16.407
On today's broadcast, Lots on Walmart removing self-checkouts or not, and in-store acknowledgement for autism.
00:00:16.407 --> 00:00:20.548
What happened at COP28, we've got the top- line.
00:00:20.548 --> 00:00:25.690
Instagram is going to the dogs, literally and profitably.
00:00:25.690 --> 00:00:34.122
On Food not Phones, a national poll on children's health points to the parents and on Lost in the Superm arket.
00:00:34.122 --> 00:00:40.723
A conversation with Dr Ricky Volpe of Cal Poly on the 2024 prices of food.
00:00:40.723 --> 00:00:47.411
A fun year-end bullseye on why boys are wearing suits and what that means for us all.
00:00:47.411 --> 00:00:55.302
A programming note as we enter the holiday season, the Lempert Report LIVE will be on break for the holidays.
00:00:55.302 --> 00:01:01.411
This will be our last broadcast for 2023 and we'll meet back here on January 9.
00:01:01.411 --> 00:01:03.863
In the meantime, be sure to check out SupermarketGuru.
00:01:03.863 --> 00:01:11.828
com as well as our social media channels, as we will continue to post throughout the holidays.
00:01:11.828 --> 00:01:13.203
Let's get started.
00:01:14.159 --> 00:01:16.346
So, Sally, some weird news.
00:01:16.346 --> 00:01:24.552
You know, Walmart, it was reported, that they were removing self-checkout in Maine and Massachusetts.
00:01:24.552 --> 00:01:31.462
Then all of a sudden, this follows up that they removed self-checkout in New Mexico earlier this year.
00:01:31.462 --> 00:01:37.590
Then it comes out that Walmart is not removing self-checkouts.
00:01:37.590 --> 00:01:40.063
That came out just yesterday.
00:01:40.063 --> 00:01:43.171
So we have this controversy going back and forth.
00:01:43.171 --> 00:01:53.287
But the interesting thing is what Walmart is really trying to do is they're trying to promote their new hosted checkouts.
00:01:53.287 --> 00:01:55.302
Now what a hosted checkout is?
00:01:55.302 --> 00:02:10.487
It's self-scan, but they have an associate or a cashier there that can show customers how to use the self-checkout, help them through the checkout process and answer any questions that they might have.
00:02:10.487 --> 00:02:13.367
So it's really a hybrid that they're looking at.
00:02:13.367 --> 00:02:18.790
They want to keep self-checkouts, but they're going to put employees there to help shoppers.
00:02:18.790 --> 00:02:30.229
And this is very strange about this controversy where they're saying no, we're not going to take them, but yet there's reports that they are going to take them out.
00:02:30.229 --> 00:02:31.231
What do you think?
00:02:31.231 --> 00:02:37.312
Do you think Walmart just get rid of these self-checkouts, or does the Walmart shopper really want them?
00:02:39.639 --> 00:02:40.521
Good question.
00:02:40.521 --> 00:02:46.397
A couple of weeks ago we discussed self-checkout, which was a very popular story for us here.
00:02:46.397 --> 00:02:55.514
We had a lot of people commenting on that when we brought up the story of Booths supermarket chain in the UK and how they are removing them and for the reasons for that.
00:02:55.514 --> 00:03:02.447
So it is a highly relevant topic right now and on people's minds Now.
00:03:02.447 --> 00:03:09.349
Walmart did remove some self-checkout machines, to clear up the confusion, in some New Mexico locations this year.
00:03:09.349 --> 00:03:18.019
I don't know what those specific reasons were for those locations or if they were just trying it out to see how their customers responded.
00:03:18.419 --> 00:03:20.364
But yes, they are calling.
00:03:20.364 --> 00:03:27.725
They have named their cashiers that work now at the self-checkout stands.
00:03:27.725 --> 00:03:35.844
You said it for me it's 'self-checkout hosts' and this is a great name for them.
00:03:35.844 --> 00:03:45.931
I'm not sure how much different that is from the people that stand at the checkouts in Kroger or Publix or any other grocery store I've been.
00:03:45.931 --> 00:03:53.370
So what would be interesting to me is to see if they're going to give them this name, which is a very positive name.
00:03:53.370 --> 00:03:54.457
I do love it.
00:03:54.457 --> 00:03:58.169
But are they going to go a little bit beyond?
00:03:58.169 --> 00:04:03.942
You know, go the extra mile, like maybe help bag your groceries, help put your groceries in your cart.
00:04:03.942 --> 00:04:11.875
You know, we definitely know that there are people that use self-checkout sometimes that have more challenges than others, you know.
00:04:11.875 --> 00:04:18.619
So are they going to step in and help those people, or are they there to just make sure that we're not shoplifting?
00:04:19.562 --> 00:04:29.447
Exactly, and that's what came into my mind as well, as we're seeing more retailers putting guards by the self-checkout, looking at your cash register receipt.
00:04:29.447 --> 00:04:45.574
But the other thing that's notable is, in a lot of Walmart's, what they've done is they've made their self-checkouts with a long belt so similar to your traditional checkstand, so that you could pile more things on them.
00:04:45.574 --> 00:04:48.120
So we'll see what happens with Walmart.
00:04:48.120 --> 00:04:50.446
I still think that self-checkout is dead.
00:04:50.446 --> 00:04:54.545
I think we need a next iteration of that technology.
00:04:54.865 --> 00:05:14.500
But one thing I love that Walmart is doing, and they're really following suit on what Kohls in Australia started a number of years ago, where they're having these sensory friendly environments for two hours a day, 8 am to 10 am, in all of its US and Puerto Rico stores.
00:05:15.483 --> 00:05:47.172
It started a couple months ago with the back-to-school season and now it's going to be indefinite for them and basically, what they've done is they've really finally acknowledged the fact that we have a population that has sensory issues, whether it's autism or ADHD, and whether it's customers or even some store employees that are afflicted with this.
00:05:47.172 --> 00:06:16.425
So Walmart is doing the right thing here to be able to tone it down a bit and, frankly, what I hope happens is the test becomes so not test, but this effort becomes so successful that what we start to see are stores around the nation doing the same thing, and not just for people who are sensitive to sensory barrages, but everybody.
00:06:16.425 --> 00:06:24.607
I'd like to be able to go into a store where it's quiet and, sure, maybe have Barry Manilow music playing on the loudspeaker.
00:06:24.607 --> 00:06:29.942
But let's calm it down a little bit, because I go into these stores.
00:06:29.942 --> 00:06:42.298
You have these people unpacking, you have things on the loudspeaker and this quiet time is really terrific, and we're starting to see this happen in other environments as well.
00:06:44.600 --> 00:07:04.545
Yes, right now we are looking at one in 36 children in the US that are diagnosed with autism, and I'm really glad you brought up ADHD as well, because there are other conditions that people experience and that they present challenges for them when it comes to their senses and sensory overload.
00:07:04.545 --> 00:07:10.012
This is a wonderful effort by Walmart for diversity and inclusion.
00:07:10.012 --> 00:07:19.264
They yes, dim the lights, less announcements, creating a better shopping experience for those who are challenged.
00:07:19.264 --> 00:07:23.170
This is also great for parents of children with autism.
00:07:23.170 --> 00:07:24.805
They need to go out to the store.
00:07:24.805 --> 00:07:30.769
They got to take their kids with them, and so you know this makes their trip a little bit easier on them.
00:07:31.300 --> 00:07:50.112
And the shopping hours are from 8 to 10 in the morning, so you know it's not, it hasn't been extended throughout the day, and you know a lot of people think that maybe even people who don't have sensory issues, like you're pointing out, might want to shop in those hours too, because it's calmer.
00:07:50.112 --> 00:07:52.245
And you know what I bet, phil, is.
00:07:52.245 --> 00:08:05.122
I bet, when you are calmer and you are feeling more positive and comfortable in a store, that, one, you might choose healthier foods, but, two, you might spend more.
00:08:06.500 --> 00:08:12.016
And you know there is a correlation the time that you spend in the store to how much money you spend.
00:08:12.016 --> 00:08:17.583
So if we can calm it down, people spend more time in the store, they'll enjoy it more and they'll buy more.
00:08:17.583 --> 00:08:21.588
And it's not just supermarkets yeah, walt Disney World is doing it.
00:08:21.588 --> 00:08:27.411
Pittsburgh International Airport has the first century friendly room at a US airport.
00:08:27.411 --> 00:08:33.169
Also, airports have followed through in Newark, new Jersey, miami and Phoenix.
00:08:33.169 --> 00:08:43.751
Synergy Entertainment that's a nine theater chain has a children's movie one Saturday morning a month where they reduce the volume.
00:08:43.751 --> 00:08:50.090
They brighten the lights because they receive guidance that too dark of a space can be frightening to kids.
00:08:50.090 --> 00:08:51.393
So this is all great.
00:08:51.393 --> 00:08:52.846
We finally have this awareness.
00:08:52.846 --> 00:08:56.508
So kudos to Walmart for doing it.
00:08:56.950 --> 00:08:57.991
Cop28.
00:08:57.991 --> 00:09:02.029
You know we had a lot of discussions about it.
00:09:02.029 --> 00:09:10.544
Frankly, I want to do a shout out to Erin Fitzgerald, the former CEO of US Farmers and Ranchers in Action.
00:09:10.544 --> 00:09:18.192
She's the one who really started agriculture going to COP28 a couple years ago.
00:09:18.192 --> 00:09:25.789
She brought farmers there, she started the dialogue and now this year we had more farmers there than ever before.
00:09:26.419 --> 00:09:33.562
And it's important to note that our food system accounts for around 30% of global green house emissions.
00:09:33.562 --> 00:09:36.190
From farm to fork to garbage dump.
00:09:36.190 --> 00:09:42.671
It's a major culprit in biodiversity loss, which is why we need farmers at the table.
00:09:42.671 --> 00:09:58.544
And you know, davey of the World Resources Institute, who works with COP28, said for the first time there's a broad acknowledgement that the food agenda is aligned with the climate fight across the board.
00:09:58.544 --> 00:10:05.202
More than two thirds of the world's countries endorsed an agreement to retool the global food system.
00:10:05.202 --> 00:10:06.267
That's great.
00:10:06.267 --> 00:10:17.490
Un Food Agency issued a landmark report laying out what it would take to align the global food system with the goal to limit average global temperature rise to manageable levels.
00:10:17.490 --> 00:10:26.544
United States and the United Arab Emiratis together committed about $17 billion towards ag innovations.
00:10:26.544 --> 00:10:36.869
So we're seeing some really good things coming out of COP28, but also some controversy that not everybody thinks that it's going to happen.
00:10:36.869 --> 00:10:37.883
What's going on here?
00:10:40.085 --> 00:10:40.265
Yes.
00:10:40.265 --> 00:11:07.312
Well, there is much debate and, while there are, it is very positive to hear that food is on the table at COP28 and that it has become a bigger part of the discussion so that's good news and that 154 countries have signed on committing to these goals of reducing our agricultural emissions and trying to reach this next round of climate targets.
00:11:07.312 --> 00:11:24.302
However, what we're hearing is that there can be a lot of talk but less action, and that we have a need for more governments to step up and to create more finances for these programs.
00:11:24.302 --> 00:11:29.831
We've also heard about the different challenges in different parts of the world.
00:11:30.981 --> 00:11:36.123
In the US here, food experts are saying that we need to learn how to eat less meat and dairy.
00:11:36.123 --> 00:11:51.693
That's our way of tackling this, but then in other parts of the world, we're hearing agricultural production needs to be increased, or crop diversity needs to be increased, or, in some areas, we need to work on deforestation.
00:11:51.693 --> 00:11:59.072
So there are several different issues here that can be unique to different regions of the country.
00:11:59.072 --> 00:12:06.086
So it will be really important to see how the governments of these countries step up and also how the food industry.
00:12:06.086 --> 00:12:23.250
I was really glad to see that food executives were at COP28 in getting in on the conversation and we are starting to see more corporations come out and make commitments to reducing waste, make commitments to reduce emissions, and hopefully we'll see more of that.
00:12:24.211 --> 00:12:24.773
Absolutely.
00:12:24.773 --> 00:12:27.005
And back to the controversy.
00:12:27.005 --> 00:12:29.113
There's things like the global stock take.
00:12:29.113 --> 00:12:33.469
That provides a guide for countries' new climate plans.
00:12:33.469 --> 00:12:36.619
It's supposed to be finalized by 2025.
00:12:36.619 --> 00:12:42.326
But some experts say it ignores the need to cut emissions from food and agriculture.
00:12:42.326 --> 00:12:45.067
So the conversation is going.
00:12:45.067 --> 00:12:46.224
That's the good news.
00:12:46.224 --> 00:12:50.445
But, to your point, we need to have a lot more than just conversation.
00:12:50.445 --> 00:12:58.928
We need to have commitments, and that's from the smallest food factories here in the US and globally to the largest ones.
00:12:58.928 --> 00:13:09.764
So hopefully we get them to sign on and hopefully it's a wake up call before it's too late and agriculture really has to make some significant changes just to feed the planet.
00:13:11.779 --> 00:13:13.767
Instagram is going to the dogs.
00:13:13.767 --> 00:13:30.207
I said that already, but it's interesting that there's a new study by a pet nutrition expert at Pet Lab who's established Instagram's dogs who can earn the most money through simple sponsored posts.
00:13:30.207 --> 00:13:31.451
Never thought about this.
00:13:31.451 --> 00:13:35.923
I thought about influencers making tons of money with their posts.
00:13:35.923 --> 00:13:56.086
Some come under controversy and critique but I never thought that you have all these dogs Dogs plus one, and I'll get to that in a second but here's, and you have a couple dogs, so maybe you can get your dog.
00:13:56.086 --> 00:13:57.303
You have three dogs, right?
00:13:58.466 --> 00:14:00.003
I have three dogs, and I got to tell you.
00:14:00.003 --> 00:14:13.389
I wish I knew about this, because one of my dogs was on an Instagram account that has millions of followers not too long ago doing his little Elvis smile, and so I should have just capitalized on that.
00:14:13.450 --> 00:14:14.052
You should have.
00:14:14.052 --> 00:14:14.902
I didn't know.
00:14:14.902 --> 00:14:16.687
Your dog had an Elvis smile.
00:14:16.687 --> 00:14:23.912
So the number one richest dog on Instagram named Jif Palm.
00:14:23.912 --> 00:14:28.870
It's a tiny pomeranian puppy who likes to dress up.
00:14:28.870 --> 00:14:37.383
He may owe some of his fame to Katy Perry, as he actually appeared in her music video for the song Dark Horse.
00:14:37.383 --> 00:14:50.972
He has, I guess it's a he, had 9.3 million followers and he can make $53,200 per sponsored Instagram post.
00:14:50.972 --> 00:14:53.467
He's the most successful dog on Instagram.
00:14:53.467 --> 00:14:55.085
Then there's Doug the Pug.
00:14:55.085 --> 00:14:58.389
He's the second highest earning dog.
00:14:58.389 --> 00:15:10.691
He has over half a million followers no, sorry, 3.6 million followers and he earns $26,100 per post.
00:15:10.691 --> 00:15:13.024
Then there's Juniper.
00:15:13.024 --> 00:15:15.164
Juniper is not a dog.
00:15:15.164 --> 00:15:23.589
I'm not sure why Juniper is in this list, but Juniper is number three and Juniper is the happiest fox.
00:15:24.200 --> 00:15:40.692
I actually went to Juniper's website, which is a very slick, very cool website, and she has 2.9 million followers and she makes $22,300 per post.
00:15:40.692 --> 00:15:47.448
And the list goes on and on and on, and I had no idea what that.
00:15:47.448 --> 00:15:48.591
This was even a thing.
00:15:48.591 --> 00:16:00.308
And Christopher Masanto, who's the co-founder of PetLab, commented we love to see dogs all over social media, so we're all for those sharing their pups on Instagram.
00:16:00.308 --> 00:16:12.442
It's great, with all these huge followings, to see that so many people are on the same page and incredible to see how that converts to earning potential for these amazing pets what I wish they did.
00:16:12.442 --> 00:16:19.030
And whenever I go on TikTok I always have some pet thing coming up on TikTok.
00:16:19.030 --> 00:16:25.908
I wish somebody would do this on TikTok to rank them, because some of the ones on TikTok are hilarious.
00:16:25.908 --> 00:16:30.296
I like those Just in Instagram posts, not so exciting.
00:16:32.864 --> 00:16:48.126
Yes, and there are so many apps out there right now that you can take a video or a picture of your dog and add a voiceover and make your dog's mouth move so that it looks like your dog is saying these things.
00:16:48.126 --> 00:16:49.686
So there's a lot of creative things.
00:16:49.686 --> 00:16:56.225
And I also want to point out, Phil, that in the list you were listing the top performing dogs on Instagram.
00:16:56.225 --> 00:17:02.918
There are some also that are not even still with us, so if you've lost your dog, you mean they're dead?
00:17:03.039 --> 00:17:04.163
They're dead making money.
00:17:04.163 --> 00:17:11.951
Yes, Sally, I've just got to wonder if this is the beginning of the end of civilization.
00:17:11.951 --> 00:17:19.343
I just with everything that's going on, the fact that we now have dead dogs making money on Instagram.
00:17:19.343 --> 00:17:53.170
Oh well, so to a much cheerier topic than dead dogs today, on FoodN otP hones, we're going to talk about a new survey from the University of Michigan Health, the CS Mott Children's Hospital National Poll on Children's Health, and what they found is nearly three and four parents polled report making resolutions or setting personal goals throughout the year, with a quarter of them hitting the reset button as the clock strikes midnight for 2024.
00:17:53.170 --> 00:18:10.338
It's interesting, and why this is partially important to the Food Not Phones Initiative that continues and continues to grow, is that 25% sorry, more than half wish.
00:18:10.338 --> 00:18:15.211
These are the parents wish to spend less time on their phone.
00:18:15.211 --> 00:18:20.231
They feel that if they spend less time on their phone, they're going to become better parents.
00:18:20.231 --> 00:18:21.162
What do you think?
00:18:22.799 --> 00:18:46.972
I'm really glad to see this research out and, as a parent, one who has had children, young children, through the shutdown, and seeing that during the shutdown, as parents working parents with kids at home, going to virtual school and socializing virtually that we kind of had to let some of this go for a little while.
00:18:46.972 --> 00:18:49.646
But now we're trying to dial that back.
00:18:49.646 --> 00:18:55.242
We're seeing the consequences of it and we're trying to dial that back and it is good to hear.
00:18:55.242 --> 00:19:12.111
One of the great things I saw that came out of the study was that families are talking about looking for opportunities for self-reflection, emotional health, connecting with their community and less screen time, less time on their phones.
00:19:12.111 --> 00:19:28.630
So remember how we've talked about as parents, as adults, if we want our kids to put those phones down, especially at mealtime when we're all gathered around, then we've got to be able to do that too and we've got to set that goal for ourselves and as a parent.
00:19:29.519 --> 00:19:32.827
Absolutely, and just a reminder, go to FoodNotPhones.
00:19:32.827 --> 00:19:49.923
com not only to see what this initiative is all about, but check out our survey that was done by Acosta with their consumer panel and a lot of surprises there about who is on their phones, and parents certainly are at risk as well.
00:19:49.923 --> 00:19:51.102
Thanks, Sally.
00:19:51.102 --> 00:19:53.624
On Lost in the Supermarket.
00:19:53.624 --> 00:19:56.711
I spoke with Professor Ricky Volpe, Ph.
00:19:56.711 --> 00:20:03.430
D of Cal Poly, about food prices for 2024 and his forecast on what comes next.
00:20:03.430 --> 00:20:07.546
For the complete episode, just go to supermarketgurucom.
00:20:07.546 --> 00:20:09.450
And here's what he had to say.
00:20:09.450 --> 00:20:18.215
As we enter in just a couple weeks from now 2024, what's your outlook?
00:20:18.215 --> 00:20:19.738
What are we going to be looking at?
00:20:19.738 --> 00:20:21.886
You know the headlines continue.
00:20:21.886 --> 00:20:23.462
Food prices are up.
00:20:23.462 --> 00:20:32.768
We just saw a report over the past couple of days that it looks like egg prices are gonna go back up because of yet another strain of bird flu.
00:20:32.768 --> 00:20:40.006
So give us the 101, What are we looking at for 2024 as it relates to food prices?
00:20:41.019 --> 00:20:42.886
Yeah, I think that's a great place to start.
00:20:42.886 --> 00:20:57.280
I think I'm optimistic that food price inflation is going to continue to come down, but I have to be very careful and be clear that that does not mean food prices are going to come down, right.
00:20:57.280 --> 00:21:04.786
Yeah, I mean, probably most of your listeners are aware of this, but food prices in a nominal sense very rarely come down.
00:21:04.786 --> 00:21:12.088
In fact, we've had that happen once on a national scale, having nominal food prices decrease year over year.
00:21:12.088 --> 00:21:15.309
We've had that happen once in the last 60 odd years.
00:21:15.309 --> 00:21:18.925
It happened in 2016 and I don't expect it's gonna happen in 2024.
00:21:19.420 --> 00:21:27.588
If you look at the current USDA forecasts the food price outlook, which that's the first place I look to when I'm curious to see what's the consensus.
00:21:27.588 --> 00:21:28.423
Where are things gonna head?
00:21:28.423 --> 00:21:38.228
Right now, USDA is forecasting the widest range that I have ever seen for food price inflation, going into a calendar year, you know ever.
00:21:38.228 --> 00:21:49.387
It ranges from significant deflation to very, very high, much higher than average inflation, and I think that represents just a lot of uncertainty with all the moving pieces that are affecting food prices.
00:21:49.387 --> 00:21:56.561
But I will tell you that most of the metrics that I follow, that I keep an eye on, most of them.
00:21:56.561 --> 00:22:07.711
There are, of course, exceptions, you mentioned eggs but most of them are moving in the right direction, and by 'right direction' what I mean is returns to historical norms and returns to relative stability.
00:22:07.711 --> 00:22:10.269
So we're seeing meat prices come down.
00:22:10.269 --> 00:22:12.227
Most fruit and vegetable prices come down.
00:22:12.227 --> 00:22:18.489
We're seeing low and stable outlook for most major US egg commodity prices.
00:22:18.489 --> 00:22:26.723
We're seeing a slow but steady recovery in energy prices, particularly relative to the highs we saw in the middle of last year.
00:22:27.819 --> 00:22:29.224
A lot of challenges still remain.
00:22:29.224 --> 00:22:30.128
We can dig into that.
00:22:30.128 --> 00:22:38.507
There's still a lot of supply chain challenges in terms of distribution and logistics and, of course, there's a global conflict, particularly what's going on in UK and Russia.
00:22:38.507 --> 00:22:45.829
That's continuing to affect things like grain markets, oils, cooking oils, preservatives, some raw materials.
00:22:45.829 --> 00:22:47.404
There are definitely challenges.
00:22:47.404 --> 00:23:05.651
I will tell you right now that I am optimistic for year over year grocery prices coming back down to about that 2.5, 3% level, which means, of course, food prices will be going up again in 2024, but by about half what they're going up this year in 2023.
00:23:09.567 --> 00:23:10.288
On the bulls eye.
00:23:10.288 --> 00:23:19.859
No one seems to be able to pinpoint exactly when the fashion trend started, but the fashion trend of boys wearing suits, it's upon us.
00:23:19.859 --> 00:23:26.855
The tradition of young boys wearing suits actually dates back to the late 19th and early 20th centuries.
00:23:26.855 --> 00:23:32.566
During this period, children's clothing was a direct reflection of adult fashion.
00:23:32.566 --> 00:23:38.595
It wasn't uncommon to see young boys dressed in miniature versions of their father's suits.
00:23:38.595 --> 00:23:48.083
This trend was particularly prevalent among the upper classes, where formal attire was a symbol of status and respectability.
00:23:48.083 --> 00:23:56.279
A notable shift occurred then in the late 19th century, with the introduction of the sailor suit for boys.
00:23:56.279 --> 00:24:06.063
Inspired by naval uniforms, these suits became immensely popular and were considered both stylish and suitable for everyday wear.
00:24:06.063 --> 00:24:18.487
The sailor suit, with its nautical flair, marked the beginning of age-appropriate dressing for children, offering more comfort and freedom of movement than the traditional suits did.
00:24:19.654 --> 00:24:25.576
Then the roaring twenties came, and the 1920s brought significant changes to children's fashion.
00:24:25.576 --> 00:24:33.627
With the growing emphasis on comfort and practicality, the rigid formality of the past began to wane.
00:24:33.627 --> 00:24:43.301
Boys' suits became simpler and more functional, reflecting the casualization of dress that was sweeping through adult fashion as well.
00:24:43.301 --> 00:24:49.905
Following World War II, there was a brief resurgence in traditional dressing for boys.
00:24:49.905 --> 00:24:56.987
The 1950s saw a return to formality, with suits for young boys regaining popularity.
00:24:56.987 --> 00:25:09.646
This period is marked by a blend of classic styles with new, more comfortable fabrics and relaxed tailoring accommodating the needs of an increasingly active youth.
00:25:09.646 --> 00:25:20.900
It's fast-track forward and the July 2022 release of Minions, the Rise of Gru became yet another milestone in boys' fashion.
00:25:21.381 --> 00:25:39.928
As teenage boys hit movie theaters in their eighth-grade graduation finest, most of the time wearing dark sunglasses, to make their fashion statement official, their swagger was part businessman, art, secret service man with a dash of self-awareness.
00:25:39.928 --> 00:25:51.442
According to NPR, on TikTok, the fashion trend under the #Gentle Minions and related hashtags reached over 100 million views.
00:25:51.442 --> 00:26:04.007
The junior male fashionistas were so impactful that some movie theaters did what I consider a really dumb thing and banned the wearing of fancy suits at their screenings.
00:26:04.007 --> 00:26:07.884
Right, let's ban kids from dressing up and having fun?
00:26:07.884 --> 00:26:09.376
No comment.
00:26:09.376 --> 00:26:23.557
The idea of dressing up became a cult-like phenomenon and, in my opinion, added a bit of class to an age group of pre and teen boys that typically were known for well just being slobs.
00:26:24.775 --> 00:26:33.824
Just last week, according to a column in the Washington Post, two eight-year-olds third-graders in Chelsea, Maine, came to school dressed in suits.
00:26:33.824 --> 00:26:42.188
James Ramage and Lincoln Bolitho added a bit of panache to Chelsea Elementary School.
00:26:42.188 --> 00:26:57.557
James asked his parents for a suit for his seventh birthday and started wearing it to school when he was in the first grade and now, with his bud, lincoln, they're the dashing duo who wear suits to school every Wednesday.
00:26:57.557 --> 00:27:03.286
Teachers, their bus driver and now even other students have all joined in.
00:27:03.286 --> 00:27:13.284
The school is encouraging students and staff and sent out a notice to encourage everyone to join in on what is now called 'Dapper Wednesday'.
00:27:14.194 --> 00:27:23.765
James and Lincoln report that they're receiving lots of compliments and say that when people say that they look good, it just made my heart feel real good.
00:27:23.765 --> 00:27:32.241
They said it's a wake-up call for us all as we enter a new year and put the work styles of the past few years behind us.
00:27:32.241 --> 00:27:35.784
Wouldn't it be great to have all of our hearts feeling good?
00:27:35.784 --> 00:27:42.326
And if all it takes is brushing off that student's eye, hey, it's kind of easy.
00:27:42.326 --> 00:27:46.000
So, Sally, let's check the Q&A.
00:27:46.000 --> 00:27:48.038
Do we have any comments today?
00:27:48.922 --> 00:27:49.363
We do.
00:27:49.363 --> 00:27:54.079
We have a comment from John Pandol and he says, with a hot excuse me.
00:27:54.079 --> 00:28:01.023
He says "a minute in the store, a dollar in the drawer, yep, calm and peaceful shopping is the ticket.
00:28:02.176 --> 00:28:05.345
Well, John, as always, thanks for your insights.
00:28:05.345 --> 00:28:06.758
Very well said.
00:28:06.758 --> 00:28:15.342
And, John, to you and your family, thank you for everything that you do for our industry, Yours to a great 2024.
00:28:15.342 --> 00:28:20.546
And thanks for being one of our strong supporters here at the Lempert Report Live.
00:28:20.546 --> 00:28:27.186
A reminder we'll be on break for the holidays and this will be our last broadcast for 2023.
00:28:27.186 --> 00:28:29.781
And we'll meet back here on January 9th.
00:28:30.494 --> 00:28:31.416
Be sure to visit SupermarketGuru.
00:28:31.416 --> 00:28:40.865
c om for the latest marketing analysis issues and trends, and don't forget to join us back here next Tuesday at 2.30 pm Eastern for more.
جستجوی اپیزودهای گذشته
اپیزودهای قبلی The Lempert Report LIVE را جستجو کن.
سلب مسئولیت: پادکست و آثار هنری تعبیه شده در این صفحه متعلق به Phil Lempert است که متعلق به صاحب آن است و به Listen Notes، Inc وابسته یا تایید نشده است.
ویرایش
از کمک شما برای بروز نگهداشتن پایگاهدادههای پادکست سپاسگزاریم
