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Retail is evolving at an incredible pace, with new innovations and trends constantly reshaping the landscape. But at its core, retail is still about one thing: connecting customers to their passions. In this episode, we dive deep into the most exciting aspects of retail today, including the role of content, stores and people. Discover why the true magic of retail lies not in the products themselves, but in how we help customers engage with and elevate their passions. As both a retailer and a consumer, this episode will inspire you to rethink the power of retail.
Listen to this episode and:
Learn how connecting customers to their passions is reshaping the retail landscape.Explore the role of omnichannel experiences and how they're evolving to meet customer expectations.Discover how custom products and convenience are driving the next wave of retail innovation.Understand the power of community-building and how retailers can foster connections around shared passions.Show notes are at www.obandco.uk/313.
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Envisaging the future of retail can feel confusing and potentially a waste of time. We often get stuck in today's problems and challenges, or we go to the other end of the spectrum and consider radical science fiction ideas. But what if we step back and allow ourselves to imagine what retail, and specifically grocery, could look like in 10 years? In this episode, Oliver Banks dives into three exciting concepts from his latest collaboration with RETHINK Retail, exploring shopper-driven innovation, retail media's potential fall, and a revolutionary approach to grocery e-commerce partnerships. Join the conversation as we speculate on the future of retail and how it could impact us all.
Listen to this podcast episode and:
Consider how we could adopt online shopping tools into the physical store.Discover why we must be prepared for the rise and fall of retail media.Explore how the retail industry can overcome the challenges of unprofitable online operations.Show notes are at www.obandco.uk/312 where you can find the full RETHINK Retail report as well as more episodes to check out next.
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Saknas det avsnitt?
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Retail is evolving faster than ever before, and the traditional "buy and sell" model might not be enough to thrive in the future. In this episode, we’re continuing our exploration of new business models that will reshape the retail landscape by 2030. From retail media networks to resale programs, we'll break down the innovative strategies that retailers are using to unlock new revenue streams and deliver value. If you want to understand how to stay ahead of the competition and ensure your retail business is future-proof, you won't want to miss this episode.
Listen to this episode of the Retail Transformation Show and:
Discover the growing power of retail media networks and how they’re transforming retailers into media companies.Learn how Retail as a Service can unlock new revenue streams by offering retail capability and expertise to other businesses.Explore how resale models are helping retailers leverage sustainability to drive profits and connect with eco-conscious consumers.Understand the business model which holds massive value and shouldn’t be ignored.Show notes are at www.obandco.uk/311.
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With thin margins and fierce competition, sticking to the classic business model might not be viable enough to ensure future success. The next wave of retail profits will likely come from innovative and disruptive business models that go beyond the traditional "buy and sell" approach to wholesale and retail. In this episode, we're exploring some of the most promising avenues that retailers should consider. Whether you're looking to integrate services, adopt a subscription model, or even launch your own brand, this episode will equip you with insights to stay ahead of the curve and redefine what success looks like in the future of retail.
Listen to this podcast episode to:
Discover what defines a new business model and why simply expanding your product line isn’t enough.Explore new revenue and value opportunities by moving up the supply chain, offering services, or implementing subscription models.Learn from live examples of retailers who have tried and tested these new business models.Show notes are at www.obandco.uk/310.
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Success in transformation isn’t just about reaching the finish line—it’s about what happens after. When a transformation project succeeds, the work isn't over. This episode dives into the critical steps required to ensure the change is sustainable, embedded, and truly delivers maximum value for your business in the long run. From transitioning ownership to business-as-usual teams to celebrating wins with empathy, Oliver Banks explores the often overlooked but crucial activities that make transformation stick. Whether you’re in the final stages of a project or planning ahead, tune in to join Oliver and learn how to wrap up your transformation efforts the right way and set up your organization for continued success.
Listen to this episode to discover:
The essential handover activities that ensure smooth transitions from project mode to business as usual.The importance of celebrating success with empathy.How to revisit the transformation later to drive ongoing improvements and maintain the change over time.Find the full show notes at: www.obandco.uk/309.
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A significant portion of transformation initiatives fail. But for this common outcome, why do we not have a defined or more considered approach to failure? Join Oliver Banks and explore the intentional actions that you must take when your transformation initiative crashes. From damage limitation through to the four types of lessons to learn, step through the aspects that you need to face into.
Listen to this episode to discover:
A framework of elements to guide you through the process of transformation failure.How to ensure lessons learned are not forgotten. And the metaphor to help understand the considerations you'll need to factor in.Show notes are at www.obandco.uk/308.
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Transformation efforts are often fraught with risk, and research shows that many initiatives end in failure. But failure isn't a single, uniform outcome—it's a multi-dimensional challenge that can strike at different stages and in various forms. In this episode, we'll dissect the three different dimensions of transformation failure and explore strategies to avoid these pitfalls. Whether you're leading a major transformation or a smaller-scale change, understanding these dynamics is crucial for navigating your journey to success.
Listen to this episode and discover:
The four types of transformation failure and why you need to recognise them.Why and when failure is a good outcome to celebrate.Five tips to help avoid transformation failure.Show notes are at www.obandco.uk/307.
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The world of retail is always evolving and it can be hard to stay up to speed. Fortunately, the new podcast from Oliver Banks has you covered. The Retail Show is the weekly podcast with useful news and relevant views. Listen in to an episode of The Retail Show podcast and remember to subscribe on your usual podcast app. Alternatively, head over to TheRetailShow.uk.
In this episode, you'll hear:
News you can use - essential headlines and actionable takeaways. Insight spotlight - and why Walmart is talking about "adaptive retail". And finally - an amusing or good news story to help put a smile on your face.The show notes from this episode are at www.obandco.uk/306.
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In the fast-paced world of retail, staying ahead requires more than just reacting to changes; it demands a commitment to continuous improvement. In this episode of the Retail Transformation Show, Oliver Banks dives into the principles and practices that can help retailers thrive by fostering a culture of ongoing enhancement. From the roots of Lean Six Sigma to practical insights from companies pioneering with continuous improvement, this episode explores the strategic, operational, and cultural challenges that can make or break your continuous improvement initiatives. Tune in to discover how you can create a more efficient, effective, and responsive organisation that consistently meets customer needs.
Listen to this podcast episode to hear:
Discover the importance of cross-functional collaboration and breaking down operational silos.Understand why continuous improvement is more than just a cost-saving exercise.Gain insights into creating a culture that embraces change and values regular feedback.Show notes are at www.obandco.uk/305.
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In today's digital age, retail businesses heavily rely on technology to ensure smooth operations and customer experience. However, what happens when that technology fails? In this episode, we delve into the recent CrowdStrike outage that caused widespread disruptions, highlighting the importance of resilience and preparedness in the face of unexpected tech failures. Join Oliver Banks as he uncovers the lessons learned, the power of a strong company culture, and the critical steps retailers must take to safeguard against future outages. This is an episode you don't want to miss if you're keen on fortifying your business against the vulnerabilities of our interconnected digital world.
Listen to this episode and discover:
How we've forgotten previous outages. Discover the crucial role of people and company culture during IT outages.Understand the importance of comprehensive disaster recovery plans for uncomfortable scenarios.Gain insights into proactive strategies to ensure business continuity during major disruptions.The show notes are at www.obandco.uk/304.
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The world of retail is ever-changing. But how does the retail industry change across the world. In this episode, Oliver is joined by fellow podcaster and retail expert, Paula Macaggi. Paula brings a wealth of experience of retail connections, events, and experiences from 5 continents. This experience highlights the similarities, differences and opportunities for retailers across the planet.
Listen to this podcast episode to hear:
Examples of world-class customer experiences, and how they can drive up premium perception. Retail technologies that are seeing global growth and adoption. And, which country is the best at retail.The show notes are at www.obandco.uk/303.
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Are we seeing the democratisation of retail right now? The barriers to entry are being crushed. All sectors of retail, supply chain, manufacturing, product design and commerce is essentially becoming open source and accessible to all. This welcomes a flood of competitive start-up businesses that can compete on a level playing field with established global corporates. In this episode, join Oliver Banks to explore what this means for incumbent retailers and customers.
Listen to this episode of the Retail Transformation Show and hear:
Why the retail and commerce sectors are becoming more open and accessible. How ecommerce is leading the democratisation of retailThe one sector that has not been made available to smaller companies.Show notes at www.obandco.uk/302.
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Curious about what's inside Oliver Banks's book "Driving Retail Transformation"? In this episode, take a chapter-by-chapter journey through the book, to discover the insights, strategies, and tools you'll find in each section. Learn more about the style of the book and how this can be your guide to successful retail transformation. Tune in to get an insider's look and see how "Driving Retail Transformation" can progress your business forward.
Listen into this episode to discover:
A chapter-by-chapter blow of what's inside the book.How the Retail Transformation Steering Wheel will help you steer your change initiatives. Additional behind-the-scenes stories about the origins of the book.Show notes at www.obandco.uk/301.
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There have been huge industry developments since the Retail Transformation Show podcast launched back in 2018. In this episode, the host, Oliver Banks shares his experiences of setting up the podcast and four key learnings from 300 episodes. He also reveals an exciting development to help keep you informed about the ever-evolving world of retail... A new podcast: The Retail Show. Tune in to find out more.
Listen to this episode and discover:
Why retail is both simple and complicated. How change happens (and the one example that bucked the trend). More about the exciting announcement about Oliver's new podcast.The show notes are at www.obandco.uk/300.
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Operational simplification is a goal for many businesses. But simplification projects are not necessarily simple by themselves. There can be big implications and it's easy for the customer of the change to reject the new initiative altogether. Join Oliver Banks and discover the challenges of simplifying an operating model as well as five techniques to help you drive simplified operating models.
Listen to this episode and discover:
Why simplification is a valid form of transformation. The common challenges facing simplification programmes.And five approaches to drive your simplification forward.The show notes are at www.obandco.uk/299.
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Flagship stores are incredible shops - the epitome of excellence and offering customers a fantastic shopping experience. But they can be excessively lavish and hugely costly with no expense spared in a bid to worship the brand. In this episode, join Oliver Banks and consider if flagships are a viable strategic approach for you and your brand, or if they're an expensive vanity project, wasting precious time, money and attention.
Listen to this episode of the Retail Transformation Show to hear:
Discover the strategic benefits and potential drawbacks of flagship stores.Learn from real-world examples of successful flagship stores and their unique approaches.Understand the considerations for integrating flagship stores into your broader retail strategy.Show notes at www.obandco.uk/298.
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In 2020, the world shifted to WFH in response to the coronavirus pandemic. We learnt how to get things done remotely through necessity. But since then, there has been an ongoing tension between work from home (WFH) and the return to office (RTO). Different companies have announced different policies with staunch supporters on both sides of the argument, as well as genuinely valid perspectives for and against each option. Join Oliver Banks and explore the key factors to consider about the future of work, productivity, teams and workplaces.
Listen to this episode to discover:
The pros and cons of both working from home and office-based work.The key considerations when it comes to leading transformation from the office vs remotely.Why we must return to the company purpose and values. The crucial factors that a retailer's office based teams cannot forget.Show notes are at www.obandco.uk/297.
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Dive into the future of retail with this thought-provoking episode, where you'll explore the evolving role of stores far beyond traditional sales spaces. From showrooms and delivery hubs to sustainability centers and community hubs, stores are being reimagined as multifunctional spaces that enhance customer experience and foster lasting relationships. Join Oliver Banks as he unveils the myriad ways in which modern stores are adapting to not just survive but thrive in today’s competitive retail landscape. In turn, consider how your stores can transform into a dynamic part of the retail revolution.
Listen to this podcast episode and:
Explore if the traditional role of stores is fading in modern retail.Learn how technology blends with store operations to enhance customer experiences.Understand how stores are evolving into community hubs and collaborative spaces.Discover strategies for integrating multifunctional roles into your store design and operating model to stay competitive.Show notes are at www.obandco.uk/296.
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If we focus only on creating a great customer experience in the moment, we're missing the opportunity for positive impact. This episode explores how to craft unforgettable customer interactions that forge long-term loyalty. Join Oliver Banks and discover why we must consider designing memories and how neuroscience reveals the opportunities to etch the brand into a customer's brain. The aim is to create positive, lasting impressions and avoid negative memories so that customers remember the brand fondly and choose to keep coming back for an excellent experience.
Listen to this episode and hear:
How the brain creates memories and how we can use this to our advantage. Discussion prompts to design retail interactions that turn routine outings into standout memories.How emotional connections can amplify the likelihood of forming customer memories.How to reverse the approach to avoid creating bad memories.The full show notes are at www.obandco.uk/295.
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In the complex world of retail transformation, the journey is often fraught with obstacles and challenges. This episode dives deep into the reality that transformation initiatives frequently encounter setbacks, and how these stumbling blocks are not just barriers but crucial learning opportunities. Join Oliver Banks as he unravels the intricacies of navigating change challenges. He presents three truths and plenty to reflect on about your own transformation initiatives. Whether you're starting a new initiative, rescuing a broken transformation or trying to keep a change on the path to success, this discussion shares the critical considerations of managing change in the real world.
Listen to this episode of the Retail Transformation Show podcast and discover:
Why experiencing and recognising problems in your transformation is a good situation.How the fear of failure might inadvertently be encouraging failure to occur.The three truths about transformation challenges and what you must consider in turn.Show notes are at www.obandco.uk/294.
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