“To me, there’s one point, which is that we need to deeply understand the seismic shifts happening in the consumer base and what’s driving decision making, because it’s not marginal.

Second is really having the sobering moment to tell yourself, “I have to win the purchase every time.” The loyalist, the price plays—those are becoming less and less successful. And we have to really focus on how we engage consumers who have a new degree of demands—really be honest and hold the mirror up and say, “Am I delivering, or am I not?”

And third is then to say, tactically, “What am I willing to do differently?” And we see it from marketing—to say, “I have to figure out how to engage in a dialogue with consumers, all the way through purchasing,” when you say, “I’ve got to figure out how to make my store more exciting or how to compete in a marketplace that’s ever changing.”