Tune in for your Christmas gift from Oliver Banks. Hopefully, this puts a smile on your face as you explore the ever-evolving world of retail in a whole new way... Merry Christmas and Happy New Year for 2024. Show notes at www.obandco.uk/270.

The retail industry continues to evolve, and in this episode, join Oliver Banks and look back at stand-out news stories from the past 12 months. We’ve seen drone deliveries take off whilst other companies invest in retail media networks. Discover the most transformative and strategic moves as well as exploring crucial retail trends that have played out over 2023. Listen to this podcast to hear:The key insights and innovations from the past year, with the added benefit of hindsight. What the two Chinese mega-retailers have got in common. Which company is set up to grow through profitable acquisitions and how.Find the full show notes, including more stories, insights and content over at www.obandco.uk/269.

In a world grappling with environmental challenges and a cost of living crisis, this episode dives into the evolving sustainability narrative. Alice Rackley, CEO of Polytag, joins Oliver Banks to shed light on the resurgence of sustainable initiatives amidst global challenges. Explore the intricacies of supply chain transparency after purchase and the viability of deposit return schemes. Alice helps you discover how innovations allow leading retailers to blend effective recycling and meaningful customer engagement whilst unlocking new data sources and valuable insights. Listen to this podcast episode to hear:Understand the impact of supply chain visibility on the business and the planet.Expert viewpoint on the UK's deposit return scheme, and similar recycling schemes worldwide, and how they influence retail. Explore innovative retail trials linking recycling with customer rewards engagement and data insights.The show notes are at www.obandco.uk/268.

Technology is "the application of scientific knowledge to the practical aims of human life". From this foundational definition of technology as a bridge between science and practical human applications, to the intricate dance of managing its vast scope in the market, retail tech expert Holly Steele sheds light on how we can harness tech for innovation and speed while bridging the persistent gap between tech initiatives and core business strategies. We'll also explore the current tech trends captivating industry leaders and address AI's impact on the workforce. Listen to this podcast episode to hear:Unpack the true meaning of technology and its role as an enabler of innovation and efficiency in retail.Explore strategies to understand and explore technology options amidst the market's vast complexity and scale.Gain insight into the latest tech trends that are grabbing the attention of thought leaders in retail.Consider the nuanced relationship between AI advancements and human job security, balancing innovation with empathy.Show notes are at www.obandco.uk/267.

Alignment is a crucial yet often overlooked aspect of retail transformation. As modern retail organizations grapple with diverse functions, goals, and cultures, achieving alignment becomes essential to steer clear of confusion and inefficiency. Oliver Banks explores the multifaceted nature of alignment, its impact both internally and externally, and offers practical insights into creating and maintaining cohesion. He emphasizes the necessity of alignment for consistent purpose, teamwork, effective communication, and decision-making. This episode is a must-listen for those navigating the complex retail transformation journey, seeking to harmonise various organizational elements towards a shared goal.Key takeaways from this episode:Understand the complexities of modern retail organizations and the critical role of alignment in managing diverse functions, goals, and ways of working.Explore the consequences of misalignment, including confusion, inefficiency, and failure to meet objectives, and how it affects both the internal workings and customer perception and CX.Gain insights into creating alignment, from establishing a clear vision and purpose to effective leadership, communication, and collaboration strategies.Learn practical tools for achieving and maintaining alignment within your organization, as highlighted in Oliver Banks's upcoming book "Driving Retail Transformation".Find the full show notes at www.obandco.uk/266.

Unified commerce plays a crucial role in retail, helping customers shop seamlessly and enabling the business and operations to flow accordingly. In this episode, Oliver Banks hosts Bala Parameshwaran from Bain & Company and Nikki Baird from Aptos as they tackle the complexities of unified commerce. From integrating digital and physical shopping experiences, addressing challenges from legacy systems to customer experience design. The discussion reveals insights from the brand new unified commerce report from Bain and Aptos, highlighting the industry's readiness for this transition. Tune in for expert perspectives on orchestrating technology and customer experience in retail, and learn how to access valuable resources for your unified commerce journey.Listen into this episode and discover:Key learnings from the latest unified commerce research by Bain and Aptos.Which area of unified commerce causes the greatest headaches for retail. How customer expectations are evolving as unified commerce becomes more commonplace. Find the full show notes at www.obandco.uk/265.

In part 2 of our annual round up, continue to delve into the crucial aspects of transformation and change management in the dynamic world of retail. As we celebrate the fifth anniversary of the podcast, host Oliver Banks brings together more standout moments and insightful golden nuggets from recent episodes. This compilation highlights key discussions on the foundations of transformation, the challenges of change, the opportunities of cost savings and agility along with the importance of Lean Six Sigma. It also touches on the approach for innovating business models and maximising the likelihood of success in your initiatives. Tune in to absorb these condensed insights, which encapsulate the shifts and strategies shaping modern retail. Listen to this episode and hear: Why the concept of turning the tanker is no longer relevant.How you can switch a classic cost-cutting tool to a valuable tool for shaping the retail business. And how you can ensure you're maximising your chances of success.For more detailed insights, visit the show notes at www.obandco.uk/264.

As the world of retail continues to evolve, transformation and business improvement remain high on the agenda. The podcast is now celebrating its 5th birthday, so Oliver Banks is pulling out clips of the best bits, or those famed golden nuggets, for you to enjoy. The clips feature ideas about retail technology, data, AI, omnichannel retail, retail media networks, business models, customer experience, cost savings and profitability. Listen now to this first part with retail inspired golden nuggets from the past 12 months.Listen to this episode to hear: Highlights from different episodes, featuring expert guests and from Oliver Banks's solo shows. Takeaways on topics like new business models, CX, retail media networks, marketplaces, data and AI.The full show notes are at www.obandco.uk/263.

In the dynamic world of retail, "omnichannel" has stood as a consistent goal, an evertrend. However, recently, the spotlight has been shifting to "unified commerce". So the question arises: has omnichannel truly had its day? Dive into this intriguing podcast episode with Oliver Banks as we dissect the essence of both concepts, backed by industry insights and the formidable intelligence of AI. From the semantics of buzzwords to real-world applications, let’s embark on a journey to determine if these terms are mere labels or integral to the retail evolution. And discover which approach comes out on top?Listen to this podcast episode now to discover:Understand the shift from omnichannel to unified commerce and the distinctions and similarities between the two, supported by insights by industry experts.Discover the necessity of adaptability in retail, preparing for unknown future channels and consumer trends.Recognise the three importance elements to help focus on unified commerce and delivering a customer-centric operating model.Find the full show notes at www.obandco.uk/262.

In the competitive retail industry, profitability remains the ultimate aim for omnichannel and ecommerce pure-play retailers alike. Yet challenges like operational inefficiencies, muddled data management, and pricing pitfalls often deter retailers from hitting their vital profit targets. The scenario paints a dire picture: strategic anchors dragging companies down, potentially to the point of sinking. But what if there's a lifeline? Oliver Banks introduces OB&Co's innovative 'Path to Profitability' service, a tailor-made consulting solution designed to pinpoint and address your profitability hurdles. Discover the key elements and factors to uncover your path to profitability.Listen to this podcast episode to uncover:The importance and sensitivity of pricing, including how uncontrolled adjustments can spell disaster and why dynamic pricing can mature your approach.The intricacies of stock management, from maintaining strong availability to clearing dead stock.The value of developing a lean operating model to refine the entire business structure.Why it's crucial to shift from data to action for proactive decision-making to drive profit.And the emerging trend that's set to disrupt the entire industry in just a few years.The full show notes, including more information about the Path to Profitability, are at www.obandco.uk/261.

In the ever-evolving landscape of modern retail, there's an increasing need for simplification. With the continued transition to omnichannel operations and the ongoing introduction of new processes, companies are finding themselves buried beneath layers of complexity. But simplification isn't just a new buzzword or concept. So why does something that sounds so straightforward become so intricate? Join Oliver as we revisit the foundational discussions of simplification and unpack the pivotal idea that "variation is the enemy of simplification."Listen to this podcast episode where you'll discover:Why we get confused about simplification and how these initiatives exist against other transformations.The importance of a consistent starting position in simplification efforts and why variation can be detrimental to the process.The principle of making tasks easy, quick, reliable, and repeatable for a streamlined experience and practical examples of its implementation.And when simplification is not the best approach - and why you should embrace complexity and complications.The full show notes are available at www.obandco.uk/260.

The realm of digital commerce is expanding, yet many aspects of online shopping have remained surprisingly static. Augmented Reality (AR) has evolved into a tool that can blend the digital and physical channels, creating immersive, interactive consumer experiences. But while the technology is undeniably clever and cool, it can easily slip into gimmicky use cases. It must stack up in terms of practical application for customers, and create tangible commercial value. Join Oliver Banks to delve into the application of AR across varied categories, from fashion and cosmetics to home goods, and explore both the exciting potential and its viable uses in practice. Listen to this podcast episode and discover:The innovative ways businesses are using AR to enhance customer experiences and blend between physical retail spaces and digital channels.Examples from various categories about how AR is being implemented.A look at the future of AR, examining upcoming technologies, potential applications, and arising concerns like privacy and ethics in its application.Crucial considerations for businesses considering AR features to ensure it positively influences buying decisions rather than simply wooing with tech.Find the show notes at www.obandco.uk/259

In this episode, dive in to learn more about Oliver Banks's upcoming book, "Driving Retail Transformation: How to navigate disruption and change". The book, out in early 2024 is a pivotal guide for retail leaders looking to steer and lead their organisation through the turbulence of the industry. In this episode, Oliver provides a peek into the origins of the book, the strategic frameworks included and the inspiration behind them. He also poses a vital question for all leaders: Will you be a driver or a passenger in your transformation journey? Listen to this podcast episode and discover:Oliver's transition from designing photocopiers to spearheading retail transformation.The "Retail Transformation Steering Wheel" a flexible framework for navigating the complexities and challenges of retail change.The inspiration behind the book and the concepts.And hear the first official reading from the book.The full show notes are at www.obandco.uk/258.

As the global business landscape continues to evolve, giants like Amazon consistently challenge the status quo, setting the bar for disruption and expansion. From its humble beginnings selling books online, Amazon has grown into nearly every conceivable retail category, and is now expanding into other sectors and industries. It is redefining what it means to be a "retailer". But what makes Amazon so adept at pioneering into unchartered territory? And what can other retail businesses learn from their strategy and approach? Join Oliver Banks as we explore how Amazon’s approaches to work culture, experimentation, acquisitions, and setting expectations have built an empire that dares to tread where few others do. Listen to this podcast episode where you'll discover:The unique ways of working that Amazon use to encourage change, agility and speed.Real-world examples of Amazon’s willingness to experiment, accept failures, and learn from them.The acquisitions that propelled Amazon into new sectors, developing their multi-industry and global presence.The role of culture and values in pushing Amazon to continually set new industry standards.The full show notes are at www.obandco.uk/257.

In the dynamic world of retail, identifying fresh opportunities is pivotal to stay ahead. Bain forecast that new business models will make up a sizeable portion of the future of retail. But, there are many avenues open to you and it's critical to consider the different strategies and leverage your unique assets appropriately. Additionally, the new business model will require a tailored operational model that dovetails into the existing ways of working, and new priorities must be balanced against the core business needs. This episode unravels the intricacies of creating a new business model, so dive in with Oliver Banks to redefine what's possible for your retail organisation. Listen to this episode to hear:How to discover the right opportunity and how this will impact the core business. The complexities of crafting a new operational model while maintaining synergy with the core business.The importance of prioritising, especially when new opportunities challenge established strategic goals.Show notes are at www.obandco.uk/256.

In an era where classic retail growth has decelerated and market shares have become increasingly elusive, businesses must look beyond the traditional boundaries to secure their future. The challenge? Venturing into new terrains requires more than just an innovative mindset—it calls for strategic adaptations, perseverance, and the acumen to turn intangible assets into profitable avenues. In this episode, we’ll dive deep into the innovative strategies businesses are adopting, from leveraging retail media and technology to harnessing the power of once 'valueless' assets. Join Oliver Banks and get ready to explore the expansive realms of the possible. Listen to this episode to hear:The new avenues businesses are tapping into beyond the classic retail model.How Amazon evolved adding profitable elements through non-traditional business models.Why you must find the assets in your company that have no direct financial value. Potential pitfalls and challenges to anticipate as retailers expand their horizons.The full show notes are at www.obandco.uk/255.

In today's dynamic retail environment, the term "transformation" is brandished as the cure-all for a myriad of challenges. It's a buzzword that is easily thrown around but may mis-set expectations. But what does genuine transformation look like? Dive deep with Oliver Banks in this podcast episode to unpack the misconceptions surrounding retail "transformation" as well as "digital transformation" and discover the signs of genuine, impactful change. Listen now to debunk myths, understand authentic transformation, and recalibrate your perspective.Listen to this podcast episode to discover:Instances and examples where transformation is incorrectly used and the dangers of this.Common myths about transformation and the genuine reality that exists.Strategies to ensure impactful, long-lasting transformation in the retail landscape. Find the full show notes at www.obandco.uk/254.

In a world where digital technologies and changing consumer behaviour have made transformation business-critical, it's vital to avoid small delays and unseen challenges that can snowball into larger issues. Join Oliver Banks for this episode and explore the importance of assessing your transformation to help overcome the challenges that block transformation efforts. Oliver introduces the new Retail Transformation Tune-Up service and encourages you to reflect on how you can optimise your transformation strategies and approach. Listen to this episode to hear:Understand the critical business problems that often block transformation efforts, from an inadequate understanding of the business problems to cultural resistance to change.Learn why it's important to audit and assess the transformation to identify unnoticed issues, foresee pitfalls, and provide recommendations for course correction.Discover the 'Retail Transformation Tune-Up' - a comprehensive service designed to optimise your strategies and approach and maximise your chances of success.Show notes at www.obandco.uk/253.

The resale market is fast becoming a key segment in retail, driven by shifting consumer trends. Dive into its value for businesses and the planet, its role in the circular economy, and practical integration tactics. Join Oliver and Recurate's co-founder, Adam Siegal, for a concise exploration of modern recommerce.Listen to this podcast episode and hear:The growing significance and evolution of the resale market in today's retail landscape.Which niches and categories resale excels in.How businesses are avoiding cannibalising their core market - and even growing their new product sales!Ways of educating and communicating with customers to source preloved items plus attracting prospective buyers.  Find the full show notes at www.obandco.uk/252.

As retailers grapple with the ever-evolving dynamics of customer relationships, one concept emerges powerfully: community. But in the modern world of retail, community shouldn't be seen as just a buzzword. It's the key to unlocking unprecedented levels of loyalty, brand advocacy, and unparalleled market insight that you'll get nowhere else. By understanding and fostering community, retailers and brands can significantly deepen their relationship with consumers, turning them from strangers to staunch advocates at rapid speed. Join Oliver Banks and dive deep into this podcast episode to demystify the concept of retail community and why it might just be your golden ticket for supercharging your relationship with consumers.Listen to this podcast episode and you'll hear how to:Discover how a well-fostered community can effortlessly transform strangers into followers, fans, and into brand ambassadors.Learn from real-world examples; from Microsoft's gaming rooms to Nike's fitness initiatives, get inspired by brands that have masterfully built and nurtured their communities.Unearth how community-driven retail strategies not only boost the bottom line but also offer invaluable feedback, boost loyalty that will remain resilient in tough times, and enriched shopping experiences.Plus, the key questions and topics to consider to get started and boost your retail community initiatives.The full show notes are at www.obandco.uk/251.

In an era marked by unprecedented change, retailers, consumer-facing businesses and brands find themselves navigating unfamiliar terrain, facing new competitors, and redefining relationships with customers. Additionally, the competitive business and retail landscape is filled with contradictions and uncertainty. So how can companies adapt and stay "future fit" amidst these complexities? Join Oliver Banks in this episode as we demystify the idea of being "fit for the future" and learn how to navigate and thrive in this intricate environment. Listen to this podcast episode to hear:The 5 elements of becoming fit for the future.Why we need to rethink the element of uniqueness.How to re-engineer how your business works, based around 5 critical aspects, including the customer proposition, business model and operating model. Show notes at www.obandco.uk/250.

As technology continues to evolve, the role of robotics in retail, hospitality, and customer service is becoming increasingly significant. Join Oliver Banks and delve into the influence of robotic automation and AI in different areas of customer facing business operations, from maintaining stock integrity and cleaning to providing customer service and even cooking and making cocktails. Listen to this podcast episode to:Explore the potential range of consumer-facing retail robotics - or those that could potentially be exposed to consumers, from the concept of a mobile supermarket that comes to you through to restaurant waiting staff.Consider how robots and AI could revolutionise customer service, with multilingual capabilities. hyper-personalised interactions and other value-added features.Understand the vital considerations for integrating robotics into businesses, balancing the efficiency of automation with the human response to these changes.Show notes are at www.obandco.uk/249.

Dive into the transformation of last-mile deliveries to consumers. This market has rapidly developed from traditional mail-order operating models to fully autonomous delivery bots in a short span of time. In this episode, explore how robotics are enhancing the efficiency and flexibility of home delivery services, considering benefits and potential limitations. From automated pods and self-driving cars navigating obstacles on the ground to drone deliveries descending from the skies, you'll get to understand how these technologies are reshaping the retail landscape. Also discover how the role of customer habits, government legislation, and business viability play their part in determining the future of last-mile ecommerce deliveries. Listen to this podcast episode to:Understand how the advancements in autonomous technologies like robotic pods, self-driving cars, and drones are revolutionising home delivery propositions.Consider which technology is right for you by learning about the benefits and challenges of each technology, and how they are adapted to suit different urban, suburban and rural environments.Discover how customer habits, government legislation, and business considerations shape the implementation of these technologies.Explore future possibilities in this area, from intelligent systems, innovative dynamic and convenience-based solutions to new robot types.Show notes at www.obandco.uk/248.

Explore the rapidly evolving landscape of transport in retail, as we delve into transformative solutions like electric vehicle fleets and autonomous transportation. This episode addresses the significant role robotics play in mitigating industry challenges like driver shortages and sustainability. It also uncovers the real-world applications, potential benefits, and possible obstacles of integrating such technology, from global shipping to reverse logistics. Whether you're a retailer or a tech enthusiast, join Oliver Banks in understanding the future of transport in retail.Listen to this episode and discover: How robotics can solve long-lasting retail transport issues.The benefits, challenges, and considerations of integrating robotic transport into existing supply chains.The potential future advancements in retail transportation, and what they mean for the industry.Find the full show notes at www.obandco.uk/247.

The rapid evolution of technology has given birth to a new era of efficiency in the retail industry, with the use of robotics becoming increasingly prevalent. In warehouse or fulfilment centre settings where speed, efficiency and precision are of the essence, robots are transforming operations for moving and managing stock and orders. In this episode, join Oliver Banks as he delves into the world of retail robotics in distribution centres, examining the current uses, the benefits it brings, and the considerations businesses must take into account when integrating this technology into their warehouse processes and operating model. Listen to this podcast episode to:Understand the applications of robotics in retail warehouse environments, including stock movement, picking, packing, and stock control.Learn about the efficiency gains, predictability and other benefits that robotics can bring to operating models.Discover the crucial considerations and watchouts when implementing robotics in your distribution centre or fulfilment centre. Consider the future of robotics and how they could continue to transform logistics and ecommerce operations further.The full show notes are at www.obandco.uk/246.

In a world where consumers crave personal connections and seek meaningful brands that stand for something, it's essential for retailers to harness the power of conversations. Whether it's in-store, over the phone, or through digital channels, engaging with customers through meaningful dialogue can be the difference between a disappointing customer experience and long-term loyalty. In this episode, Oliver Banks delves into the multifaceted role of conversations in the retail experience, and how retailers can effectively utilise this engagement to build lasting relationships with consumers.Listen into this podcast episode and: Understand the social nature of consumers and how engaging in meaningful conversations can elevate the customer experience.Discover how human interaction conversations form and influence all strong memories about a customer's experiences.Learn how technology can serve as an enabler, in assisting customer interactions and facilitating rich conversations.Explore how you can leverage conversations to be more proactive, anticipate issues, and provide prompt solutions, all while capturing invaluable customer feedback and insight.Explore the full show notes and timestamps at www.obandco.uk/245.

Click and collect or BOPIS accelerated hugely over the course of the Covid pandemic. Collection experiences offer convenience and speed for customers, especially as commutes and working practices reset. Smart lockers offer further opportunities for friction-free collections, sales opportunities, omnichannel retailing and a more integrated customer experience. Discover more about the evolution of smart collection lockers with Clix's Matt Cater. Listen to this episode and hear: How collection lockers have evolved and the role they play in the customer journey.Why modern smart lockers offer much more than just a collection point.What new technologies are being developed for lockers.Show notes are at www.obandco.uk/244.

When consumers are grappling with the rising costs of living and shrinking disposable incomes, balancing quality and quantity has never been more critical. But how can retailers achieve this without slashing their already thin margins? In this episode, join Oliver Banks as he addresses the pressing issue of finding and delivering cost savings in retail. Explore the transformational power of strategic cost-saving programmes that trim expenses, enhance efficiency and potentially free up resources for reinvestment and growth.Listen to this podcast episode to:Delve into the financial woes of consumers and explore how retailers can effectively reduce costs while keeping customers' needs at the forefront.Discover strategic cost-saving techniques such as heatmaps, zero-based budgeting, Lean Six Sigma, and end-to-end analysis.Consider how to balance urgent cost-cutting measures with long-term strategies to not only survive but thrive in a challenging retail environment.The full show notes can be found at www.obandco.uk/243.

Dive into the world of Lean Six Sigma and discover why this presents a formidable approach to transforming retail businesses and operations. Originating from the manufacturing industry, it transferred across to broader use cases. However, with the advent of Agile and the need for flexibility, it has become less popular in recent years. Discover why Oliver Banks believes this powerful toolkit and approach can still deliver extremely relevant and timely value for the retail landscape. Listen to this podcast episode to hear:Explore the evolving history of Lean Six Sigma and discover how it's fit to meet the needs of modern retail.Understand the critical role of customer-centricity in Lean Six Sigma and how it paves the way for delivering unparalleled value.Exclusive insights into real-life retail applications of Lean Six Sigma, and how you can use it in a world of data and AI. The full show notes are at www.obandco.uk/242. 

After the energy and excitement of Shoptalk Europe 2023, Oliver Banks catches up with the event's Content Director, Ben Miller. Together, they pull out key moments and connect the dots between key trends and themes from across 35 hours of on-stage content, including data, technology, retail media and transformation. Listen to this episode of the Retail Transformation Show podcast and hear:Tactics and approaches that the largest retailers are approaching their data strategy.How businesses are transforming through retail media networks.How aspects like convenience are shifting specific categories.Show notes are at www.obandco.uk/241

Marketplaces have been a key trend for retailers and brands to tackle a number of business challenges. Join Oliver Banks and delve into the dynamic realm of retail marketplaces. Demystify the key mechanics and their potential for transforming your business, whilst being aware of the challenges you might face along the way. Whether you're considering opening your own marketplace or looking to selling on other marketplaces, this episode is designed to guide you. Explore the complexities, identify the key benefits and consider future trends in the marketplace landscape. Tune in and discover how marketplaces could be a game-changer for your retail strategy.Listen to this episode to hear:Decipher the strategic potential of different marketplace models.Learn about the complexities and challenges essential for operating a successful marketplace.Gain foresight on the future trajectory of retail marketplaces and platform models.The full show notes are at www.obandco.uk/240.

Step into the world of preparing an organisation for retail transformation in this engaging conversation with Brandon Rael, a seasoned retail transformation consultant. In this episode, we delve into the essential aspects of getting a retail business primed for transformation, the pitfalls of neglecting this critical phase, and the steps necessary for establishing a solid foundation for change. However, with the typical urgency, this preparation is often difficult to squeeze in. Unravel the complexities of preparing a retail organisation for successful change. In this episode, you'll discover:The essence of "getting the organisation ready" for transformation and why it's pivotal.The potential consequences of neglecting preparation for transformation - and the symptoms to look out for.The key steps to take if your organisation isn't quite ready for transformation yet - and how to balance with the demand for urgency.Find the full show notes at www.obandco.uk/239.

During Shoptalk Europe 2023 in Barcelona, industry leaders converged to explore the key themes shaping the retail landscape - both directly on stage and indirectly in conversation or based on repetitive themes. The event threw a spotlight on the value of a test-and-learn approach, the growing impact of Gen Z, the questionable relevance of the metaverse, the potential of AI, and the ever-present complexity of retail transformation. Join Oliver Banks in this episode as he unpacks these themes, offering a critical reflection on the dynamic retail landscape and how these evolving trends could influence your business strategy and instigate transformative change. Listen to this episode to:Explore the value of a test-and-learn approach and understand why this mindset is more crucial than ever in the dynamic retail sector.Delve into the world of Gen Z and consider the potential pitfalls of treating this demographic as a homogenous group.Dive deeper into the two buzzwords that have dominated recent retail conversations: the Metaverse and AI. Learn how you can effectively monitor and leverage these technologies for your business.Discover the factors that lead to the enduring complexity of retail transformation. And find out how you can get involved in a way to change this. Show notes are at www.obandco.uk/238.

Dive into the complexities and challenges of retail transformation with Oliver Banks as he shares exciting news about his upcoming book. In this episode, he touches on 4 elements covered in the book, including the importance of understanding current business challenges, finding the right solutions, managing personal development and mindset, and how to live in uncertainty. More news about the book, Driving Retail Transformation, will available soon, including the pre-order links. In this episode, you'll discover:Why you need to critically assess your business and understand the catalyst for change.What is the biggest challenge facing many retail individuals right now.Which part Oliver has been 'geeking out' on as he's dived into the research.How you can find out more about Oliver's upcoming book and how to get involved.Show notes are at www.obandco.uk/237.

Discover the fascinating interplay between today's decisions and their potential future consequences in this thought-provoking episode. Inspired by Mary Portas at the Retail Technology Show 2023, join Oliver Banks and consider how our actions and innovations can give rise to unintended negative effects. Plus explore how to identify and avoid creating future regrets. Delve into a selection of past, present and future examples, and learn the importance of selflessness and collaboration in overcoming present-day challenges. Listen to this episode and discover:Macro, micro and personal examples where we see the consequences of short-term thinking. A comprehensive framework to help you evaluate potential regrets and adapt your strategies.Potential examples of how today's innovations and transformations could quickly unravel to become our future regrets.Show notes are at www.obandco.uk/236.

Explore the world of profit warnings and their implications for retail businesses in this intriguing episode of the Retail Transformation Show. Join this conversation with Trevellyan Collier, Partner at EY, and you'll delve into the intricacies of profit warnings and their impact on transformation initiatives and approaches. Gain valuable insights on profit warnings based on EY's Profit Warning Report and learn how to adapt your retail transformation strategy accordingly.Listen to this podcast episode to hear:How a business should change in the face of profit warnings - and if it is too late for transformation.How transformation has changed since the Covid-19 pandemic.If "turning the tanker" is the right analogy or mindset for modern transformation.The full show notes are at www.obandco.uk/235.

Dive into the rapidly evolving world of social commerce and dissect the fascinating fusion of social media and online shopping that's changing the retail game. Social commerce is growing, especially with younger demographics who are embracing it more than ever. So leveraging social media platforms can lead to unprecedented opportunities for retailers. Understanding the role of social commerce in your overall retail strategy becomes increasingly important. Join Oliver Banks and learn how to excel in social commerce by tapping into its potential and addressing the challenges it presents. Listen to this podcast episode to hear:The growing opportunities social commerce presents for retailersHow video content and customer communities help drive audience and customer engagement. Why recommendations present a massive opportunity for social commerce. Key considerations for integrating social commerce into your retail strategyShow notes are at www.obandco.uk/234.

Social commerce has exploded into the retail landscape and was powered up throughout the pandemic. In this episode, discover the potential of social commerce in transforming your retail business. Join Oliver Banks and explore the evolution of social media and the commercial opportunities it now presents. Social commerce is an evolving trend that can engage customers and set you apart from the competition. Listen to this episode to hear:How social commerce differs from other retail channels. The impact of Meta's social commerce strategy. Insights from the success of social commerce in China and how that differs in other countries.How to keep pace with the rapidly changing social media and social commerce space. Show notes are at www.obandco.uk/233.

Retail transformation initiatives require comprehensive business cases to evaluate costs, benefits, and risks. Often overlooked or hidden costs can significantly impact project outcomes and viability. But ignoring these costs may lead to poor decision-making and governance, hindering the company's strategy. In this episode, Oliver Banks uncovers 3 of the most common hidden costs and how you can counter these.Listen to this podcast episode to hear:Why hidden costs could be lurking in your transformation.How you can estimate or quantify hard-to-calculate costs.3 of the most commonly overlooked or forgotten costs.Find the full show notes at www.obandco.uk/232.

New technologies can help unlock and solve some of the biggest challenges for retailers. However, they also create new issues too. Oliver Banks continues to dive into some of the challenges for physical stores and how retail technology is helping overcome those. From robotics to facial recognition, and from apps to electronic shelf edge labels - there are many options to consider. Listen to this episode to discover:How retail technology in store can help make omnichannel more seamless.Solutions to drive efficiency and store productivity improvements. What's a key challenge presented by these retail technologies. The show notes are at www.obandco.uk/231.

Retail technology is revolutionising the way consumers shop in-store and can help solve long-standing challenges. From gathering data on in-store shopping behaviour to frictionless checkout experiences, retailers are finding new ways to enhance the customer journey and improve their bottom line. Join Oliver Banks and delve into the world of retail tech and the impact it's having on solving in-store challenges. Tune into this episode of the Retail Transformation Show and discover:How retailers can gather rich shopping behaviour, like ecommerce has.Crucial questions to consider for your omnichannel strategy. Why you need to start assessing the frictions and rewards in your customer experience. Show notes are at www.obandco.uk/230.

Are you ready to shake things up? Dive into the world of disruptive transformation and explore how companies can revolutionise their industries with fundamental shifts that rewrite the rules. In this episode, we'll take a closer look at examples from in and out of the retail industry. Discover how companies are capturing new revenue streams, gaining competitive advantage, and building resilience by disrupting the status quo. Also, discover what you need to succeed with this approach and the risks and pitfalls to watch out for. Get ready to transform your thinking and unlock new opportunities in your industry. Listen to this episode of the podcast to:Discover how disruptive transformation can drive growth and profitability for your business.Learn about the strategies and risks to implementing a successful disruptive transformation.Hear real-life examples of disruptive transformation in retail and gain insights to apply to your own business.Find the show notes at www.obandco.uk/229.

Consumers continue to evolve and priorities change. Capgemini's recent research discovers how 11,000 people from many different countries feel and where their priorities lie. In this episode, hear from Capgemini's Global Retail Lead, Lindsey Mazza, about what customers want in the current market and what retailers can do to meet this demand. Listen now to hear:Valuable insights into the current state of retail, including the challenges and opportunities facing consumers and businesses in 2023. Why cost reduction and operational efficiency are critical - and why it doesn't work in the same way as past cost-cutting efforts. How to leverage data to understand your customers and create more targeted marketing strategies.Access the full show notes at www.obandco.uk/228.

As the retail market continues to evolve, it's critical to think more about ecosystems, specifically from the customer's point of view. In this episode, discover what an ecosystem is and great examples of retailers that are using this approach. Podcast host Oliver Banks explores how you can define and design your owned ecosystem, your relationship ecosystem and how you can look to expand your ecosystem, including following high margin opportunities. Listen to this episode and discover:Examples of the different aspects of your customer ecosystem.Key considerations when designing your customer ecosystem.What is essential to bring your ecosystem into reality.Show notes are at www.obandco.uk/227. 

Transformations, and the journey of change, are dependent on predictions and forecasts on multiple fronts. How will the market evolve? What are the benefits? When will it deliver? And many other considerations. But all of these are subject to an element of chance. In the uncertain world that we live in, it's crucial to start considering how likely it is that the various forecasts in your transformation come to pass. Or not. Join Oliver Banks and discover how you can consider chance and probability in your transformation programme. Listen to this podcast episode to discover:Areas of your transformation that are subject to chance.How you can start considering likelihood. And what you can do to improve the probabilities of your predictions.Show notes are at www.obandco.uk/226. 

Ranging and curation have always been key skills for retailers. But with the rise in ecommerce, the biggest range is not always the best. And curation can be a critical skill that transforms how your customer sees you and your brand. And fast fashion retailers are reinventing the whole product innovation space to drastically accelerate time to market and growth. To uncover how ranging, curation and new product development can drive your business, Oliver welcomes experienced merchant, Liza Amlani, to share more. In this episode, you'll hear:The single most important metric for range success.How ultra-fast fashion retailers have been able to transform their ways of working.What limits the extent to which customer feedback is used. Show notes are at www.obandco.uk/225.

AI provides major opportunities for retailers as well as threats. But there are big misconceptions or misunderstandings to watch out for. In this episode, join Oliver Banks to explore 10 crucial considerations about AI in retail. Learn new ways to consider AI, bust open a major myth, and discover which AI use case could disrupt retail most. Listen to this episode of the podcast to hear:Why we are likely to be wrong about AI's impact on retail in 2023.How you can reframe AI to think of loads of positive use cases.Which AI use case will provide the biggest impact to the retail industry.The show notes are at www.obandco.uk/224.

The progress in AI development has become highly visible in 2023, largely due to ChatGPT. There is a lot of potential for AI in business, and more specifically in retail. So in this episode, Oliver Banks speaks with an AI expert to understand what the future of retail is and what part AI and humans play in it. Listen in to this episode of the Retail Transformation Show to hear:The role AI plays in the future of retail across different categories and segments.Where AI is currently being used and where it could be used. What's the one big topic that isn't really being explored right now?The show notes are at www.obandco.uk/223.