The past 12 months have been among the most challenging and changing for the retail industry. And now, more than ever, retail transformation is critical for the future of each brand and business as well as the wider industry. So, in this first part, Oliver Banks celebrates the second anniversary of the podcast and reflects back on the past year of episodes. The episode features highlights from special guests who have appeared on the Retail Transformation Show. Hear the best bits and get ready to take a golden nugget-packed whirlwind tour of past episodes.
In this episode, you’ll hear:
- What famous viewpoint has lost nuance over the past 10 years?
- What is a very human element that gets in the way of retailers actually making changes?
- And why momentum is so critical for successful reinvention and transformation.
- Plus much more.
Also, once you’ve listened to this episode, be sure to check out the second part of the best bits. They’re in episode 107: The Best Bits From The Second Year Of The Podcast (Part 2).
James Bolle: To make purpose useful, it must be actionable
“What you need to do is find a purpose that people can use day to day to guide their behaviour. Because a purpose without action is just a daydream.”
Listen to episode 101: Why Have A Purpose (And How To Find It) with James Bolle. It also references the classic “How Great Leaders Inspire Action” TED Talk (probably better known as the “Start With Why” one) by Simon Sinek. Watch below:
Lee Woodard: Being digital vs doing digital
“I think digital has really, in many ways become a fog that just enveloped many, many organisations. And they believe that they can get their way through that fog by doing more things, and doing “more digital”
So, listen to episode 72: Being Digital vs. Doing Digital featuring Lee Woodard.
Rocky Howard: Having data but not being able to make sense of it all
“One of the challenges that they have is that the frustration of having the data is causing them to not see and get any value out of all that effort they’ve made. So what we’re finding that they’re doing is that they’re trying to get old legacy tools to understand and failing.”
This is from the first part of the conversation with Rocky Howard and Richard Hammond – episode 68: How To Win Customers (part 1)
Richard Hammond: Think about customers in need states, not in classic descriptive ways
“The customer you are when you wake up in the morning, will sometimes be different from the customer you are after you’ve just read a post about the perils of palm oil.”
Be sure to check out episode 69: How To Win Customers (part 2) with Richard Hammond and Rocky Howard of Uncrowd.
Oliver Banks: Your customer is the hero
“Because as a center for entertainment, as a center for story, as a center for engagement, you have to think about things slightly differently, rather than just bringing product in and putting it on sale.”
So, listen in to episode 60: Your Store Is The Stage – a solo show with Oliver Banks.
Podcast episodes 54 and 55: The best bits from the first year of the podcast
If you missed the best bits from the first year, you might also enjoy these episodes: episode 54: The Best Bits From The First Year Of The Podcast (Part 1) and episode 55: (Part 2)
Steph Tranter: We’re trained to focus on failure, and that really affects us
“So you’re taught constantly to focus on all the stuff you’re not very good at, to make them better. And that goes throughout your whole entire life.”
If you like the sound of this, listen in to episode 57: Building Your Emotional Resilience (part 1) and episode 58: (part 2) with Steph Tranter.
Also, Steph took to the virtual stage at Retail Transformation Live in July 2020. Watch her session below.
Carl Boutet: Local retailers’ best opportunity is engagement
“Is it going to be sort of a wasteland of just closed businesses because economically they couldn’t make it work? Or is it going to thrive because people want to buy local and encourage and don’t want to necessarily go out of too far out of the way to get the products, so that well-located High Street is going to thrive more than ever.”
To listen to the rest of this one, look out for episode 82: The Great Retail Acceleration with Carl Boutet.
Steve Dennis: Being honest about and accepting the reality of your situation
“The risk of standing still is actually greater than the risk of doing some of the things that we’re afraid to try and a lot of that comes down to culture.”
So, tune in to podcast episode 83: Being Remarkable In Adversity (part 1) and episode 84: (part 2) with Steve Dennis.
Chris Walton: Sensible retailers are prepared for a bleak future
“Let me look a year out or a year and a half up and say to myself, holy cow, if the business model never returns the way we used to know it, what would we do and let’s work back.”
And the rest of this conversation with Chris Walton can be caught in episode 96: The Future Of The Store Of The Future.
Also, check out this episode of Omni Talk which Chris Walton hosts alongside Anne Mezzenga and Emma Irwin. This episode also features Oliver Banks as their special guest to talk about some of the latest changes (as of 30th October 2020).
Oliver Banks x Michael Porter: Avoiding the sea of sameness
Quoting Michael Porter: “The granddaddy of all mistakes is competing to be the best, going down the same path as everybody else and thinking that somehow you can achieve better results.”
This was from episode 71: 10 Biggest Strategy Mistakes, a solo show with Oliver Banks.
Joe Jackman: Pace and momentum becomes the winning factor
“What’s a good powerful force to have on your side when you need to move faster? Momentum! How do you generate momentum? You get people to align and see the same things and understand the strategies the same and embrace them to go to that place quicker”
And finally, you can check out sessions in episode 87: The Reinventionist Mindset (part 1) and episode 88: (part 2)
What were your best bits?
So, which episodes did you enjoy from the past year? Which episodes stood out for you? And what were the moments that caught your attention and inspired you?
Let me know on LinkedIn or by email: oliver.banks@obandco.uk.
