290: Segmenting Shrink To Uncover The Real Challenge

Retail Transformation Show with Oliver Banks

#MBA #Business News #Business #News #Oliver Banks

26:46

For many travelers, Antarctica is a bucket-list destination, a once-in-a-lifetime opportunity to touch all seven continents. In 2023, a record-breaking 100,000 tourists made the trip. But the journey begs a fundamental question: What do we risk by traveling to a place that is supposed to be uninhabited by humans? And as the climate warms, should we really be going to Antarctica in the first place? SHOW NOTES: Kara Weller: The Impossible Dilemma of a Polar Guide Marilyn Raphael: A twenty-first century structural change in Antarctica’s sea ice system Karl Watson: First Time in Antarctica Jeb Brooks : 7 Days in Antarctica (Journey to the South Pole) Metallica - Freeze 'Em All: Live in Antarctica Learn about your ad choices: dovetail.prx.org/ad-choices…

about a year ago 30:07

MP3•Episode home

Shrink in retail isn't just about hoping the number resolves itself; it's about understanding the intricate web of causes that lead to loss. While shrink has perennially been a concern for retailers, recent escalations in retail crime and aggressive incidents have thrust it into the spotlight with renewed urgency. In this episode, Oliver Banks explores and segments the nuanced causes of shrink, from theft and shoplifting to internal errors and process failures. Listen in to uncover insights on the true nature of shrink and prepare yourself with the knowledge needed to address these challenges effectively in your retail operations.

Listen to this episode to:

Learn to segment different types of theft to understand their specific impacts on shrink.
Discover the importance of analysing upstream supply chain activities to identify hidden shrink contributors.
Understand the effects of inadequate reporting and lax compliance on shrink issues.
Gain insights into interpreting shrink data to address underlying performance issues effectively.

Show notes are at www.obandco.uk/290.

300 episodes

290: Segmenting Shrink To Uncover The Real Challenge

Retail Transformation Show with Oliver Banks

published about a year ago

MP3•Episode home

Listen to this episode to:

Learn to segment different types of theft to understand their specific impacts on shrink.
Discover the importance of analysing upstream supply chain activities to identify hidden shrink contributors.
Understand the effects of inadequate reporting and lax compliance on shrink issues.
Gain insights into interpreting shrink data to address underlying performance issues effectively.

Show notes are at www.obandco.uk/290.

300 episodes

#MBA #Business News #Business #News #Oliver Banks

All episodes

1
336: Blending AI Into Retail Operating Models 31:10

20 days ago31:10

31:10

AI seems to be everywhere - events, suppliers, press, work meetings. In terms of exposure, we've seen a huge surge. But when it comes to embedding AI into retail operating models, most organisations are still finding their feet. The real opportunity lies not in flashy tools or futuristic hype, but in using AI to enhance decision-making, sharpen execution, and empower teams. The value is in the simple and scalable, rather than the sexy. In this episode, we explore how AI can blend into your operating model and business to amplify what you're best at. Listen to this episode and hear: Why reframing AI as augmented intelligence unlocks its real value in retail operations. Areas where AI is already augmenting retail operations in leading companies. Four principles to help you and your organisation to embrace AI more effectively. Show notes are at www.obandco.uk/336 .…

1
335: Out of Sight, Out of Mind 22:42

27 days ago22:42

22:42

Some of the most critical problems in retail are unsolved, and they're not being looked at seriously enough. Whether it’s waste, supply chains, or workforce conditions, it’s often easier to look the other way. In this episode of the Retail Transformation Show, we explore what happens when retail challenges are left ‘out of sight, out of mind.’ From vast clothing mountains to overlooked supply chain and workforce issues, we uncover the hidden realities that deserve more attention—and ask what changes when we finally choose to see them. Listen to this episode and discover: Why it’s easy for both retailers and consumers to ignore uncomfortable truths. The retail areas most likely to be overlooked—and why that’s risky. How greater visibility leads to better decisions, accountability, and action. The show notes are at www.obandco.uk/335 .…

1
334: A Year Of Driving Retail Transformation 28:00

5 weeks ago28:00

28:00

Retail transformation is never a one-time event - it’s an ongoing journey. A year ago, Oliver Banks's book ' Driving Retail Transformation ' was published to help retailers take control of change rather than react to it. Since then, the industry has continued to evolve, but the core principles in the book remain just as relevant today. In this special episode, we celebrate the book’s first birthday by revisiting the Retail Transformation Steering Wheel, exploring the six types of transformation, and reflecting on why people and psychology are still the biggest success factors. Whether you’ve read the book before or are just discovering it now, this episode will help you apply its lessons to your business today. Listen to this episode and hear: How the Retail Transformation Steering Wheel is a vital tool for navigating change effectively. The six types of transformation and why retailers can’t afford to ignore them. How to get teams engaged in the transformation, overcome resistance, and embed transformation into the organisation’s culture. Why you must choose to be the driver of transformation and why this is the biggest mindset shift leaders need to make. The show notes are at www.obandco.uk/334.…

1
333: The Retail Carnival Is Coming 24:59

6 weeks ago24:59

24:59

Roll up, roll up! The Retail Technology Show is one of the hottest retail events around right now. In 2025, it's set for its biggest year yet. To help us understand more about what's in store, Event Director Matt Bradley joins Oliver Banks to discuss what's on, and the key challenges and opportunities facing retailers now and as we look to the future. Plus, discover why this "retail carnival" is the show to go to. Listen to this podcast episode to hear: Why you should plan to come to the Retail Technology Show 2025. Discover the key themes coming out from 100s of retailer research interviews. How the event is set up to help you discover all forms of innovation. The full show notes are at www.obandco.uk/333.…

1
332: The Future For Retail's Frontline Workforce 35:31

7 weeks ago35:31

35:31

Retail is built on people. From store colleagues and warehouse operatives to customer service teams, the frontline workforce plays a vital role in keeping the industry running. But in recent years, the structure of retail employment has changed dramatically. Cut backs, automation, flexibility, multiskilling and many other changes have impacted frontline workforce. With rising customer expectations, new technologies, and economic pressures, what does the future hold for retail’s workforce? In this episode, we’ll uncover the biggest workforce trends shaping the industry, the challenges facing retailers and employees alike, and what it truly means to be a people-centric retailer in 2025 and beyond. Listen to this episode and discover: The 5 elements shaping the future of the retail frontline workforce. What happens to 41% of frontline store colleagues each week. How to factor trends into becoming a people-centric organisation. Find the full show notes at www.obandco.uk/332 .…

1
331: Is Your Retail Operating Model Draining Profits 31:17

9 weeks ago31:17

31:17

Retailers often focus on sales and customer experience, but lurking beneath the surface, a flawed operating model can quietly drain profits. The worst part? Many of these inefficiencies go unnoticed because “this is how we’ve always done it.” In this episode of The Retail Transformation Show , join Oliver Banks and uncover the biggest hidden costs buried in retail operating models—from wasted labour and supply chain inefficiencies to outdated approval processes and underutilised technology. Plus, we’ll share real-world examples and actionable strategies to fix them before they sink your business. Listen to this episode to discover: Spot the warning signs of an inefficient operating model that’s draining profits. Learn from real-world retail failures, including an e-commerce brand overwhelmed by peak demand. Discover the five biggest hidden costs lurking in your retail operation. Get actionable strategies to streamline processes, reduce waste, and improve decision-making. Show notes are at www.obandco.uk/331.…

1
330: Overcoming Uncontrollable Variation 21:30

10 weeks ago21:30

21:30

Retail is full of natural variations—some predictable, some unexpected. Yet too often, businesses rely on averages, smoothing out the detail and missing critical insights. Successful retailers don’t just react to change; they anticipate it, refine their operating models and processes, and create systems that allow for fast, flexible decision-making. In this episode, we explore how to spot and manage variations in demand, operations, and customer behaviour—and why those who understand these patterns gain a competitive edge. If you want to take more control over your retail performance and make smarter, faster decisions, this episode is for you. Listen to this podcast episode to hear: Why averaging data is a dangerous approach to variation and how it hides the critical insights. Why systems thinking can help understand retail variation. How delaying decision points can help retailers optimise resources and respond faster. Approaches for making operating models and making processes more flexible to variation and noise. The show notes are at www.obandco.uk/330 .…

1
329: Overcoming Inaction In Transformation 25:29

12 weeks ago25:29

25:29

Transformation doesn’t happen by chance—it happens through action. Yet, in the fast-paced and complex world of retail and retail transformation, inaction can become the silent killer of progress. Whether it’s uncertainty, overwhelm, fear of failure, or even hidden inaction, these challenges can quietly derail even the most ambitious initiatives. In this episode, join Oliver Banks and dive into the root causes of inaction and uncover actionable strategies to reignite momentum, overcome obstacles, and inspire teams to keep moving forward. Every transformation is made up of progressive steps - what will your next action be? Listen to this episode of the Retail Transformation Show to: Explore the most common causes of inaction that stall transformation efforts. Learn practical methods to clarify work, set expectations, and align teams for progress. Discover how visibility and prioritisation can prevent tasks from getting lost or overlooked. And find out why you might be suffering from "false" inaction. The show notes are at www.obandco.uk/329.…

1
328: The Rapid AI Revolution In Retail 38:40

13 weeks ago38:40

38:40

Artificial Intelligence is no longer a futuristic concept—it's here, and it's reshaping the retail industry in ways we could have only imagined just a few years ago. In this episode, we're learning about AI, from an AI. From unravelling the complexities of terms like Machine Learning and Agentic AI to exploring how AI is transforming the retail industry today and into the future, we’ll cover it all. We’ll also discuss the intersection of big data, quantum computing, and the key human considerations of deploying AI in retail. Whether you're an AI enthusiast or a retail leader looking to stay ahead of the curve, this episode will provide insights into what’s next for the retail industry in the age of intelligent technology. Listen now to this episode to discover: A clear understanding of essential AI terms and how they apply to the retail sector. Practical insights into how AI is being used in retail today for inventory management, customer personalization, and predictive analytics. Discover what’s on the horizon and how AI will continue to revolutionise retail and the wider world. What an AI thinks about the human considerations and workforce impacts of AI in retail. The show notes are at www.obandco.uk/328 .…

1
327: The Essential Retail Trends And Themes Shaping 2025 33:50

14 weeks ago33:50

33:50

As we step into 2025, the retail landscape continues to evolve at a breathtaking pace. But what are the essential themes shaping the future of the industry? In this episode, Oliver Banks delves into the defining topics that retailers must navigate, from the evolution of AI to the growing influence of retail media networks. Discover how financial pressures, social commerce, cross-border trade, and Retail as a Service are setting the tone for the year ahead. Whether you’re looking to anticipate challenges or uncover new opportunities, this episode offers the insights you need to thrive in the fast-changing world of retail. Listen now to discover: Why financial management is even more in focus this year. How AI will evolve in the retail sector, and the opportunities and risks it presents for businesses. How cross-border commerce is reshaping convenience and consumer expectations. Why social commerce's special blend will drive the next wave of shopping. And more! The show notes are at www.obandco.uk/327.…

1
326: Retail Review Of The Year 2024 28:19

15 weeks ago28:19

28:19

The retail industry continues to change and transform, and in this episode, join Oliver Banks and look back at stand-out news stories from the past 12 months. As Amazon felt the heat of competition, we saw John Lewis reverse a major change. Meanwhile, many retailers struggled whilst AI looked to turn everything on its head. Discover the most transformative and strategic moves, as well as exploring crucial retail trends that have played out over 2024 and what they mean for 2025. Listen now to discover: Why Amazon are under pressure and how they're responding. Which technology is dividing the retail industry - and why it's confusing to decide what's right. How John Lewis are revising their strategy whilst also making big bets. Plus more important innovations and evolutions from across the industry. Show notes are at www.obandco.uk/326.…

1
325: Rethinking Pre-Purchase Personalisation 35:21

18 weeks ago35:21

35:21

Omnichannel and personalisation are among the most overused terms in retail today. Omnichannel is too often condensed to the transaction and delivery aspects. Meanwhile, we sometimes forget how to add personality to our personalisation. In this episode, Oliver Banks is joined by Ines Clark, former Head of Global Strategy at Farfetch. Together, they break down the omnichannel customer journey and consider how to add the human touch into the pre-purchase stages in a personalised way, to genuinely help customers to shop. Tune in to explore the exciting opportunities for retailers to redefine pre-purchase customer experience. Listen to this episode to discover: Learn why omnichannel is about more than just buying and receiving - and consider what's possible for embracing omnichannel at other stages. How to rethink personalisation into two distinct components. Which sector should retailers look to for inspiration in omnichannel and personalisation? The show notes are at www.obandco.uk/325.…

1
324: Uncovering The Blind Spots Of Innovation 38:48

18 weeks ago38:48

38:48

In the fast-paced world of retail, it’s easy to miss important trends and signals that are caught in our blind spot. Those hidden challenges and unnoticed risks can catch even the most seasoned leaders off guard. In this episode, Oliver Banks sits down with Carl Boutet, author of the new book BlindSpot, to uncover why these unseen risks occur, their impact on businesses, and how to avoid being caught off-guard. Together, they explore strategies for staying alert while balancing the critical elements of retail success, from customer focus and competitor awareness to operational efficiencies and financial health. Whether you're navigating technological innovation or operational changes, this conversation will help you sharpen your vision and stay ahead of the curve. Listen to this episode to discover: How to avoid being caught off-guard by the rapidly evolving world of technology. What the most important skills to be developing right now are. How to learn and adapt, as both an individual and as a company. The show notes are at www.obandco.uk/324.…

1
323: Conquering Change Fatigue 34:41

19 weeks ago34:41

34:41

Change is an inevitable part of business, but too much change can create fatigue—leading to confusion, resistance, and burnout at every level of an organisation. In this episode, Oliver Banks dives into the concept of change fatigue, exploring how it impacts teams, leaders, and even end consumers. we explore the root causes of change fatigue, its effects on every level of an organisation, and how you can make change more manageable and meaningful. Whether you're leading change, experiencing it, or supporting those who do, this episode will equip you with insights to ease the strain and embrace transformation effectively. Listen to this podcast episode to: Understand why too much change—too quickly or over an extended period—leads to fatigue and rejection. Uncover the hidden costs of change fatigue on productivity, decision-making, and customer satisfaction. Learn how to identify and address the mental strain caused by change to ease adoption and build competence. Discover ways to prioritize, plan, and orchestrate change to prevent burnout and confusion. Show notes are at: www.obandco.uk/323…

1
322: Spotting The Warning Signs Of Distress 39:04

20 weeks ago39:04

39:04

Retail is a tough business, and even the biggest brands can face distressing times. In this episode, Oliver Banks is joined by retail expert Rhea Fox to uncover the essential lessons from struggling and failing retailers. Together, they explore the common challenges that distressed businesses face, the warning signs that often go unnoticed, and the root causes of financial difficulties. Whether you're looking to spot risks early, turn around a struggling operation, or avoid these pitfalls altogether, this episode offers invaluable insights into navigating the complexities of retail in uncertain times. Listen into this episode now to hear: Understand the shared challenges and root causes that lead retailers into distress. Spot the telltale traits of businesses that may not realize they're in trouble. Consider whether what the future holds for smaller vs larger businesses. The show notes are at www.obandco.uk/322.…

Retail Transformation Show with Oliver Banks

1
321: The Hidden Neuro-Influences In Retail 30:29

21 weeks ago30:29

30:29

Many aspects of retail success are underpinned by the complexities of human psychology. Every decision your customers make—whether it’s choosing a product, responding to a promotion, or choosing to shop in a store or recommending to friends —is influenced by subtle yet powerful neuro-influences. These cognitive strategies shape perceptions, drive actions, and can unlock significant opportunities for your business. Are you using these to drive your business forward? And should you or does this cross ethical boundaries? Listen now to understand the powerful opportunities and dangers tucked into the psychology of shopping. Listen to this episode of the Retail Transformation Show and discover: What are neuro-influences and where are they used. How effective use of psychology can boost business performance. The unintentional dangers of misusing neuro-influences. The show notes are at www.obandco.uk/321.…

Retail Transformation Show with Oliver Banks

1
320: Golden Nuggets From The Sixth Year Of The Podcast (part 2) 41:36

22 weeks ago41:36

41:36

Catch up on the best bits from the last 12 months of the podcast. Join Oliver Banks and celebrate 6 years of the Retail Transformation Show with clips and key takeaways diving into AI, 'As A Service' offerings, sustainability, connectivity and great retailing examples from around the world. Listen into some of the best bits. Listen into this episode to hear: How to unlock next-level digital experiences in stores. Why the customer experience is forged faster than you expect. Examples of excellent retailing from across the world. The show notes, including references to all of the topics discussed are at www.obandco.uk/320 .…

Retail Transformation Show with Oliver Banks

1
319: Golden Nuggets From The Sixth Year Of The Podcast (part 1) 36:57

23 weeks ago36:57

36:57

The strongest companies in the retail industry are those that continue to navigate the disruption and continually shift their focus on what matters most. The Retail Transformation Show continues to guide you to do that and the podcast is now celebrating it's 6th birthday. To celebrate, join Oliver Banks and take a look back at the past year and some of the iconic golden nuggets shared in solo shows and with special guests. Listen in to the first part of this best bits episode. Listen to this episode for: Highlights from different episodes, featuring expert guests and from Oliver Banks’s solo shows. Takeaways on topics like new business models, becoming human-centric, avoiding short-term thinking, collaboration and much more. The show notes and full list of episodes are at www.obandco.uk/319.…

Retail Transformation Show with Oliver Banks

1
318: Expanding Your Retail Store Empire 25:49

24 weeks ago25:49

25:49

Delve into the dynamic world of retail expansion. As the retail landscape evolves, we're exploring how savvy retailers are not just surviving but thriving by strategically growing their physical presence. From harnessing the power of omnichannel strategies to creating adaptable store formats, we'll uncover the secrets to building a profitable, sustainable, and customer-centric store empire. Whether you're a seasoned physical store retailer or just embarking on the foundations of your retail estate, this episode is packed with insights to help you navigate the future of retail. Listen in to discover: How leading retailers are using stores to develop their omnichannel offering. How adaptable store formats are being used to meet customer needs and test and learn. Why data should be used to minimise the risk of opening new stores. The other crucial factors to consider when expanding your store estate. The show notes are at www.obandco.uk/318.…

Retail Transformation Show with Oliver Banks

1
317: Is Retail As A Service Leveling the Playing Field? 34:28

26 weeks ago34:28

34:28

The rise of Retail as a Service (RaaS) has opened up transformative opportunities for retailers, but it also poses serious challenges. In this episode, join Oliver Banks to dive deep into the evolving RaaS landscape and explore the key factors that are shaping its future. From data privacy concerns to expansion into new categories, we’ll dissect the pros, cons, and potential pitfalls of this new business model. Whether you're considering RaaS for your business or are curious about the changing dynamics of retail, this episode offers fresh insights and perspectives on what’s to come. Listen to this episode now to: Understand how RaaS is both levelling the playing field and empowering major retailers. Explore the 5 emerging factors which are shaping the future of RaaS. Discover how non-retail companies are entering the RaaS space and what that means for the future. Show notes are at www.obandco.uk/317 .…

Retail Transformation Show with Oliver Banks

1
316: The Rise Of Retail As A Service (RaaS) 28:12

27 weeks ago28:12

28:12

Retail-as-a-Service (RaaS) is a fast evolving segment of retail which offers new profit streams or the ability to quickly scale a new business or channel. Today, we're exploring how this model is reshaping the retail landscape. From the growth of global giants like Amazon, Ocado and THG to the rise of supply chain innovators like Shein, we unpack the key drivers behind this trend and what it means for retailers of all sizes. Whether you're considering adopting RaaS, already a provider, or wondering about the challenges and opportunities that this shift means for your business, this episode will offer valuable insights into the RaaS opportunity. Show notes are at www.obandco.uk/316.…

Retail Transformation Show with Oliver Banks

1
315: The 10-Second Customer Journey 38:32

27 weeks ago38:32

38:32

In the digital world, consumers have an incredible volume of choice, with great visibility but also subject to near infinite distractions. So as retailers, when we have a moment of a customer's attention, we need to consider how to make the most of it. Todd Unger, the Chief Experience Officer of the American Medical Association and author of The 10-Second Customer Journey joins to explore more and share how commerce companies can drive meaningful transformation. Listen to this episode to hear: How customer perception is rapidly formed. Why there are no excuses not to offer a state-of-the-art customer experience. How to understand the customer journey from your customer's point of view. The show notes are at www.obandco.uk/315.…

Retail Transformation Show with Oliver Banks

1
314: Reviewing Rufus, Amazon's New Chatbot 25:07

28 weeks ago25:07

25:07

Amazon launched Rufus as its virtual shopping assistant, using Gen AI to support customers as they browse the ecommerce site. But is this a sign of the future of retail or just another chatbot? Join Oliver Banks as he reviews how Rufus performs and considers the longer term opportunities of this technology. Learn about the good and the bad of this initiative and decide if you think this could be an initiative that stands the test of time. Listen to this episode and discover: Whether Rufus is biased to pushing Amazon brands and products. Why Amazon still has work to do. Which new development is most surprising and why. Show notes at www.obandco.uk/314.…

Retail Transformation Show with Oliver Banks

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313: The Most Exciting Part Of Retail 23:21

29 weeks ago23:21

23:21

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.…

Retail Transformation Show with Oliver Banks

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312: Three Big Ideas For The Future Of Grocery 18:30

31 weeks ago18:30

18:30

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 Transformation Show with Oliver Banks

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311: Beyond The Classic Retail Business Model (part 2) 27:55

31 weeks ago27:55

27:55

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.…

Retail Transformation Show with Oliver Banks

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310: Beyond The Classic Retail Business Model (part 1) 27:22

32 weeks ago27:22

27:22

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.…

Retail Transformation Show with Oliver Banks

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309: When Transformation Succeeds 24:14

33 weeks ago24:14

24:14

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.…

Retail Transformation Show with Oliver Banks

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308: When Transformation Fails 25:54

34 weeks ago25:54

25:54

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.…

Retail Transformation Show with Oliver Banks

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307: Avoiding Transformation Failure 22:05

35 weeks ago22:05

22:05

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.…

Retail Transformation Show with Oliver Banks

1
306: Stay Up To Speed With The Retail Show 26:58

37 weeks ago26:58

26:58

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 .…

Retail Transformation Show with Oliver Banks

1
305: Winning At Continuous Improvement 28:17

37 weeks ago28:17

28:17

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 .…

Retail Transformation Show with Oliver Banks

1
304: The Fragile Digital World: Lessons From The CrowdStrike Outages 21:08

39 weeks ago21:08

21:08

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 .…

Retail Transformation Show with Oliver Banks

1
303: Exploring Retail Around The World 32:56

40 weeks ago32:56

32:56

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 .…

Retail Transformation Show with Oliver Banks

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302: The Democratisation Of Retail 29:51

40 weeks ago29:51

29:51

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 retail The one sector that has not been made available to smaller companies. Show notes at www.obandco.uk/302.…

Retail Transformation Show with Oliver Banks

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301: Looking Inside 'Driving Retail Transformation' 29:40

41 weeks ago29:40

29:40

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 .…

Retail Transformation Show with Oliver Banks

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300: Reflections And Evolutions 19:49

43 weeks ago19:49

19:49

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.…

Retail Transformation Show with Oliver Banks

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299: Why Simplifying Is Hard (And How To Approach It) 30:05

44 weeks ago30:05

30:05

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 .…

Retail Transformation Show with Oliver Banks

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298: Flagship Stores: Strategic Play Or Vanity Project 26:57

45 weeks ago26:57

26:57

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.…

Retail Transformation Show with Oliver Banks

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297: The Great Workplace Debate - WFH vs RTO 29:14

46 weeks ago29:14

29:14

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.…

Retail Transformation Show with Oliver Banks

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296: Reimagining The Role Of The Physical Store 24:42

47 weeks ago24:42

24:42

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 .…

Retail Transformation Show with Oliver Banks

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295: Shift Customer Experiences Into Memories 37:29

47 weeks ago37:29

37:29

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 .…

Retail Transformation Show with Oliver Banks

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294: The Inevitable Transformation Challenges 22:09

49 weeks ago22:09

22:09

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 .…

Retail Transformation Show with Oliver Banks

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293: Becoming A Human Centric Company 34:41

50 weeks ago34:41

34:41

Retail is one of the industries with the biggest workforces and with huge volumes of customers to match. People are a vital aspect of retail. Terms like "our people are our most important asset" or "we put the customer at the heart" are often proclaimed but are at risk of being overlooked. Classic business outcomes like profit tend to fight it's way into pole position, guiding us about how we think, behave and act. To help us reflect on how we embrace humanity, Philippa White, author of Return On Humanity, joins to explain and explore what it really means to be human-centred. Listen to this episode to discover: Why many businesses are 'broken' right now? How a company can adopt more “human” behaviours. Why human-centric businesses are far more commercially successful. Show notes at www.obandco.uk/293 .…

Retail Transformation Show with Oliver Banks

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292: Leaping The Transformation Gap 42:23

50 weeks ago42:23