Reinventing the Way People Relate to Retail

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Dec. 2 (Bloomberg) –- Poachit Founder and CEO Gidi Fisher, Priceline Founder Jay Walker and Bloomberg’s Cory Johnson discuss Amazon’s distribution success and the search for deals on Cyber Monday. They speak with Pimm Fox on Bloomberg Television's "Taking Stock." (Source: Bloomberg)

Arizona doing a little work for us here in and we also have the chief executive of poachit.

And then we have the founder of patent properties.

We want to start off with you, cory johnson.

What is it that you are doing at this amazon performance center?

Are you putting the tape on all of those boxes?

My hands are covered with glue.

It is really awful.

This amazon performance center in phoenix is one of 14 that they have in the u.s.. what we have is a .5 mile long facility.

It is simply amazing what they have year.

Trucks are lined up.

A bring the boxes in.

If they go through this interesting process i which they put items on the shelf with a barcode scanner.

Then they walk around with shopping carts picking items, taken them off of the shelf, putting them in the cart, and then get them shipped off in a truck.

It is an amazing process, rich with amazon technology, whether that is databases, scanning equipment, and all of the processes that keep us going.

It is really amazing stuff.

David i want to talk to you.

When people make purchases online a lot of them what a discount.

They won a discount.

They want to get it for less.

Ellis about your process with poachit.

People are going across the web in order to find out when items go on sale.

Click your button.

What does that mean?

That means that you grab our button.

You go shopping like you normally would.

You go to bloomingdale's or your favorite store.

You click our button and tell our system you like the shoes, but i am not ready to buy.

Tell me when they are in sale.

We will do that as well as show you all of their valid once.

We collect these and test them in order to only send out the working once.

We have found that 80% of them do not work.

They don't work.

We created a coupon of valuation process that is patent pending in order to make sure that it is going to work.

You mentioned the words and pending, that is like music to your ears, isn't it?

Yes.

You are seeing inventors come up with ideas that serve consumers.

And vengeance are the core of the u.s. economy.

Patents are the way that we protect up inventions that we create.

We have figured out an entirely new way in order to unlock the value of those inventions.

Licensing is how those inventions moved to the marketplace.

In the united states the patent licensing system is broken.

One of the things that is happening at amazon.com is that they are reinventing the way that people relate to retell.

Is-- retiail.

How do they actually keep track of all the stuff?

We know that there guidance was that they wanted greater revenues.

That was part of their advertising business as well.

I think that they think that they are going to move work -- more.

They have brought in more workers.

The shells are fuller than they have ever been at this facility.

The german who runs the facility says that they have been more packed than they have ever been before.

They are anticipating a lot of business.

We will know more soon.

But they are certainly ready for that.

The way that amazon has architected its entire business around a technology platform, it is really not like anything.

If you think about the complexity of all of this -- walmart, or example.

Walmart moves tons of stuff.

But they are moving it by the pallet.

The complexity that they -- complexity that they have is nowhere near the same.

It is a very different type of process.

It is an enormously much more complex process.

They have technology systems the likes of which we have never seen.

The idea that there is an individual that is being tracked with every box, with every item that is going through.

-- you will say, i like the shoes.

We will track the price.

All of the merchants use us at this point.

Tomorrow it could be 20% off.

Three days later they could double the price.

They are using the technology to react to consumer demand and change accordingly.

What do you do with the information on those transactions with the individual?

We plot the data.

We will show how prices change over time so that consumers can make a smart decision.

You might come and look at a sweater and see that a sweater has been $150 and now it is $90. and now is the time to buy.

And then there's the other process of being able to name a price.

The world of prices is constantly changing.

You will need help to track the changes.

We are in the first inning of online sales.

We're just beginning.

It is going to become better and better.

Not faster and simpler.

But it is going to be better and better.

Think about being in a store when you are online.

Right now it is boring.

It is not fun.

E-commerce is going to be fun fairly soon.

It is going to be social.

It is going to be immersive.

It is going to be fun.

When retailing becomes fun, people do more of it.

That is why physical retailing is so important.

Malls became fun.

Right now, online shopping in the hunt.

But pretty soon it is going to be as fun as electronic football.

It is going to be as fun as video games that make you you like you are ino carrier ring connect 1200+++ it is not fun at all.

This text has been automatically generated. It may not be 100% accurate.

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