Retail Transformation Show with Oliver Banks

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.