183: Defining The Role Of Your Stores

In tough market conditions, questions must be asked about viability and approach for many aspects of your business. And it’s likely, that physical stores will be challenged, and the question raised about the role that shops play. In this episode, Oliver Banks shares an approach to help you understand the current and ideal role that stores play. And you’ll also learn how to take this and build a transformation roadmap to evolve your operating model.

Listen to this episode to discover:

• The 3 different aspects that feed into defining the role of the store.
• And the additional dimension that you must consider.
• An actionable approach to define what’s most important for your customers and brand.
• How to develop this into a transformation roadmap.

Reach out to Oliver Banks

If you’d like to work with OB&Co and Oliver Banks to explore how you can define the role of your stores, email oliver.banks@obandco.uk.

Additional podcast episodes to listen to next

For some follow on listening from this episode, try listening to episode 181: 6 New Business Models Driven By Sustainability. And as your business model evolves, it’s likely that the role of your store will change too. And vice versa too. So as the role of your store becomes more aligned, you may want to also explore new business models.

And in episode 171: Letting Avatars Guide Your Transformation, Howard Tiersky shared how you can use ideal customer profiles or avatars to shape your business. And these avatars will be useful to help define the role of your stores.

Next, join Oliver Banks in episode 160: Stores Vs Online: Which Is Best? It’s an ongoing debate – so discover the answer – once and for all!

And finally, Doug Stephens, the Retail Prophet, joined in episode 144: Resurrecting Retail After The Pandemic. In this episode, Doug mentions 10 archetypes that may help define how your business transforms. And in fact, defining these archetypes will help shape the role of your physical shops.