The world of retail is busy and challenging… and retail transformation is critical for the future of the industry. This is why the Retail Transformation Show podcast started in the first place. And, the podcast has just turned one! So, hear some of the best bits and get ready to take a whirlwind tour through all of the golden nuggets that have been shared in previous episodes. Including both the solo shows and the huge selection of fantastic and insightful special guests who have appeared on the Retail Transformation Show.

In this episode, you’ll discover:

  • What is the one critical thing that has come up again and again?
  • Why you don’t have any customers. (Really, you have no customers!)
  • One of the most commonly forgotten aspects of running shops.
  • And much more.

In fact, if you’re new to the Retail Transformation Show, you’ll be wanting to dive back into the archives to explore more!

Golden nuggets

I’m proud to bring you golden nuggets week after week. Through this retail podcast, I aim to give you the insight, the ideas and the inspiration. Throughout this challenging period, I want to serve you and support you to transform your retail operation and business.

In the episode, I mention my Transformation Trifecta. It’s a free guide to help you overcome the most common challenges and roadblocks that occur in retail transformations. You can pick up a copy by entering your details below and you’ll also receive my weekly Retail Transformation Briefings to help you stay up to speed with the latest news and insight.

I’ve tried to simmer down the episodes into some of the most crucial elements which can give you more to think about. It wasn’t easy, but here we go…

George MacDonald: have a purpose

In this episode, we discussed what’s going on in retail. In fact, the extract was early on in the conversation, so you can only imagine how jam packed it was with golden nuggets! This one reveals a topic and sentiment that comes up again and again: having a purpose.

What's In Store For Retail with George MacDonald - The Retail Transformation Show with Oliver Banks

Listen in to episode 23: What’s In Store For Retail (part 1) with George MacDonald and look out for episode 24 with part 2 too.

Steve Leach: how having a purpose can drive you forward

Next, we’re accelerating through to episode 37: How Nisa Are Transforming Independent Grocery Retail (part 1) and then episode 38 with part 2, featuring Steve Leach, Sales Director at Nisa Retail.

037 - How Nisa Are Transforming Independent Grocery Retail (part 1) with Steve Leach - The Retail Transformation Show with Oliver Banks

This is a great example of the importance of having a purpose that stands the test of time.

Miya Knights and Natalie Berg: fun vs functional retail

Earlier in the year, Miya Knights and Natalie Berg launched a new book: “Amazon, How the World’s Most Relentless Retailer will Continue to Revolutionise Commerce.” It’s a brilliant view into Amazon’s strategy and how they’re developing. This little extract is looking at how Amazon are great at doing functional retail – but sometimes lack the fun. It’s a brilliant way to help you identify WACD – what Amazon can’t do – as your point of difference.

How Amazon are Transforming Retail with Miya Knights and Natalie Berg

Take a listen to episode 16: How Amazon Are Transforming Retail (part 1) and episode 17: Beyond The Age Of Amazon (part 2).

Richard Hammond: you don’t have customers

Richard Hammond is the founder of Uncrowd, which aims to help you understand how to blend and balance the friction and reward in your retail proposition and operation. However, in this little snippet, Richard drops a bombshell – you don’t have customers. Instead, you have people that sometimes choose to shop with you to complete their mission.

Expert opinion: What's exciting about the future of retail in 2019 - part 3

So, go and take a listen to episode 14: The Future Of Retail In 2019 (part 3), featuring Richard Hammond.

Oliver Banks: how would you know if you’re mediocre or boring?

Many have exclaimed that retail isn’t dead, but boring or mediocre retail is. However, no retailer actually thinks of themself as boring or mediocre. That is no-one’s strategy but it still occurs. So, take a listen to episode 21: Are You Actually A Mediocre Retailer?

021 - Are You Actually A Mediocre Retailer - The Retail Transformation Show with Oliver Banks

Then, in episode 51, I explored the reasons why retailers are facing adversity. There are many reasons of course, but overall, it’s because the market has changed and retailers haven’t. Or that they haven’t changed enough.

One of the key things that has changed is that the customer is now in control. The increased levels of competition mean that there is more choice available and people can be more picky and selective with who they choose to shop with.

051 - Why Are Retailers Facing Adversity - The Retail Transformation Show with Oliver Banks

Take a listen to episode 51: Why Are Retailers Facing Adversity?

Polly Barnfield OBE: the customer has run off the field

Founder of Maybe*, Polly Barnfield understands that the customer is in control and that social media is the platform that they choose to use. It represents a massive opportunity for retailers to be able to engage on a one to one basis. Plus, it actually is a big chance to drive traffic to your shops rather than just to your website.

But, this extract has a brilliant metaphor for what’s happening right now in the retail market.

042 - How Social Media Is Changing Retail with Polly Barnfield - The Retail Transformation Show with Oliver Banks

Take a listen to episode 42: How Social Media Is Changing Retail (part 1) and episode 43 for part 2.

Jennifer Fruehauf: the importance of people and staff training

Physical stores still represent a brilliant opportunity for retailers. Depending on which report you read, they still account for around 80% of retail sales. So, it makes sense that ecommerce “pure play” retailers are looking to get in on the action too. I welcomed Jennifer Fruehauf to the show to explore how online retailers are making the jump into offline, physical shops.

However, there is a common mistake being made – about how to put in the right people in place and how to train them to effectively serve your customers.

Jumping Online to Offline with Jennifer Fruehauf - The Retail Transformation Show

Take a listen to episode 19: Jumping Online To Offline (part 1) and part 2 in episode 20.

Paul Jocelyn: the magical knowledge transfer

Paul Jocelyn specialised in creating learning organisations and the culture that supports ongoing development of the entire workforce. Together, we explored what this could look like for retailers. Often learning and development (L&D) can evolve into a compliance type activity in retailers. It’s something that we know we need to do – so let’s take a very process based approach with lots of auditing to make sure it’s done. But, this can often take the passion out of the main objective.

032 - Learning To Transform Your Workforce with Paul Jocelyn - The Retail Transformation Show with Oliver Banks

You can listen to the full conversation with Paul Jocelyn, starting in episode 32: Learning To Transform Your Workforce (part 1) and concluding in episode 33 for part 2.

Plus, even more golden nuggets to come

This has been a whistle stop tour of just SOME of the brilliant golden nuggets dropped in the show over the past year. So, be sure to check back in for episode 55 for more of the best bits from the first year.

Remember to sign up for the Transformation Trifecta too and get my weekly Retail Transformation Briefings to help stay up to speed with the world of retail transformation.

 

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