Wesfarmers released its full-year results yesterday, and while Bunnings and Kmart are still booming, the conglomerate is facing a familiar retail challenge: labour, energy, transport and supply-chain costs are rising, while Australian households remain under pressure.

Michael Thompson speaks with Wesfarmers Chief Financial Officer Anthony Gianotti about how the owner of Bunnings, Kmart and Officeworks is using productivity gains and artificial intelligence to keep prices down.

They discuss the early results from AI shopping assistants, what Wesfarmers is seeing from consumers, the advantage of Kmart’s Anko brand and why Officeworks is being reshaped around technology.