The pandemic, economic turmoil and the Ukraine ware has caused plenty of change and challenges too. But as the Retail Transformation Show podcast celebrates it’s 4th birthday, we continue our review of golden nuggets from the past year. This golden nugget roundup features clips from expert guests as well as from the host, Oliver Banks. And among the highlights, you’ll hear about: omnichannel, quick commerce, checkout free stores, mobile commerce, livestream and video shopping, customer service and much more. Listen now to part 2 of 2 and discover more golden nuggets from the past 12 months.

Listen to this episode of the Retail Transformation Show podcast and you’ll hear:

  • Why omnichannel is older than you think, and why that is.
  • Which area of the business should you be investing in, not cutting cost from?
  • How to understand key trends like the metaverse, Q-commerce and more.
  • Plus plenty more golden nuggets from a selection of fantastic episodes and amazing guests that have featured on the show.

And remember to check out part 1 in episode 211, with even more highlights!

 

Simon Hedaux: Focusing on the obvious but critical elements that really matter

192: Retail Myths & Mottos with Simon Hedaux - The Retail Transformation Show with Oliver Banks

There have been several episodes featuring Simon Hedaux this year, especially in the build up to the Productivity & Transformation  event. This golden nugget features in episode 192: Retail Myths & Mottos.

Oliver Banks: New business models add a different spin to an existing market

181: 6 New Business Models Driven By Sustainability - The Retail Transformation Show with Oliver Banks

Resale was one of the new business models described in episode 181: 6 New Business Models Driven By Sustainability. But as you’ll hear, resale is not new by itself. But this trend has highlighted a new value chain where the retailer plays the role in the middle. So, the classic “C2C” (customer to customer) 2nd hand market becomes “C2B2C” (customer to business to customer).

Oliver Banks: Maintaining operational personality to avoid price being the only differentiator

185: Are Checkout-Free Stores The Future? - The Retail Transformation Show with Oliver Banks

Over the past 12 months, checkout free stores have expanded rapidly across many different retailers and markets. However, as the checkout operation disappears, so too does any differentiation to other retailers. So, Oliver explored this challenge and others in episode 185: Are Checkout-Free Stores The Future?

Oliver Banks: Ultra fast delivery is not for everyone, so think about “quick” commerce in a different way

170: The Rise Of Quick Commerce (part 2) - The Retail Transformation Show with Oliver Banks

Quick commerce has attracted significant attention and investment over the past year. But not all customers need an ultra fast delivery. So instead, think of quick commerce about convenience instead – where speed of delivery is a factor in delivering convenience. This clip was from episode 170: The Rise Of Quick Commerce (part 2). But you might also want to listen to episode 169: The Rise Of Quick Commerce (part 1) too.

Oliver Banks: The metaverse is a universe of universes

172: Exploring What The Metaverse Means - The Retail Transformation Show with Oliver Banks

Another key trend or buzzword this year has been the metaverse. Many companies have made an initial step into the digital world. But there is still a lot of confusion about the metaverse. And if you’d like to find out more then listen to episode 172: Exploring What The Metaverse Means.

Michael LeBlanc: Be flexible with influencers to add creativity

179: How Influencers Are Changing Retail - The Retail Transformation Show with Oliver Banks

Some of the best influencer programmes are to find influencers that already align to your brand. And then you need to give the flexibility to add creativity. Listen to influencer extraordinaire, Michael LeBlanc in episode 179: How Influencers Are Changing Retail.

Oliver Banks: Understanding the growing video commerce market

189: How Livestream Shopping Is Changing Retail - The Retail Transformation Show with Oliver Banks

There are 3 types of video content which offer retail opportunities: livestreaming, recorded shoppable videos and one-on-one customer consultations. So in episode 189: How Livestream Shopping Is Changing Retail, you can explore how these could benefit your business.

Jason Holland: Video is a great addition to your omnichannel retail proposition

202: Immersive Video To Engage Customers - The Retail Transformation Show with Oliver Banks

In episode 202: Immersive Video To Engage Customers, Firework’s Jason Holland shared what Japanese retailer, Muji, are doing. This omnichannel retailer has the opportunity to converse and talk with their audience, including digital customers.

Oliver Banks: Omnichannel has existed for thousands of years

160: Stores Vs Online - Which Is Best? - The Retail Transformation Show with Oliver Banks

There have always been many different channels and business models. From the concept of DTC through to subscription models – these and many more were explored in episode 160 as Oliver asked the important question: Stores Vs Online: Which Is Best?

Oliver Banks: Omnichannel continues to evolve

200: The Ever-Trends Of Retail - The Retail Transformation Show with Oliver Banks

There were 8 ever trends that were explored in episode 200: The Ever-Trends Of Retail which included omnichannel. But as time passes, the concept of omnichannel has evolved as technology develops and as new channels emerge.

176: Being The Best Omnichannel Retailer - The Retail Transformation Show with Oliver Banks

And you can explore this further in episode 176: Being The Best Omnichannel Retailer. This short clip features Oliver challenging you to think about how you could be more omnichannel.

Oliver Banks: Be intentional with your channel strategy

183: Defining The Role Of Your Stores - The Retail Transformation Show with Oliver Banks

Stores have been an important part for many retailers. And with more “digital natives” opening stores, as well as brands selling DTC, there seems to be renewed interest in physical stores. So listen into episode 183: Defining The Role Of Your Stores to drive your organisation in the right direction.

Ian Hobson: There is no one answer to the right way to use mobiles for shopping

206: Evolving In Store Experiences With Smartphones with Ian Hobson - The Retail Transformation Show with Oliver Banks

The smartphone has evolved the act of shopping and therefore the retail market. Chargebox CEO, Ian Hobson, explored his analysis of these changes in episode 206: Evolving In Store Experiences With Smartphones. Personalisation and usefulness are just a couple of the factors that you must consider. But also recognise that customers will use their phones whether you want them to or not!

Freddie Banks: Find interesting and inspirational talking points to create a better CX

166: Learning From The Service Led Industry with Freddie Banks - The Retail Transformation Show with Oliver Banks

As part of the “Bunch of Bankses” series, Freddie Banks joined to share insights from the hair and beauty industry. He suggested that brands can develop connoisseurs of the brand to level up the customer conversations and experience. Listen in to episode 166: Learning From The Service Led Industry for more tips and advice.

Nikki Baird: Focus more on curation

199: The Changing Role Of Store Colleagues with Nikki Baird- The Retail Transformation Show with Oliver Banks

The role of store colleagues has continued to be challenged and changed, especially as more information has become available online. But to help avoid overwhelm for customers and colleagues, focus more on a smaller subset of products. Aptos’s Nikki Baird joined in episode 199: The Changing Role Of Store Colleagues to explain how you can support teams.

Helen Dewdney: Why aren’t you spending more on customer service than marketing?

161: Forging A Customer Complaints Strategy with Helen Dewdney - The Retail Transformation Show with Oliver Banks

Customer complaints expert, Helen Dewdney, joined in episode 161: Forging A Customer Complaints Strategy. Helen challenges retailers to invest in customer service, not make cut backs in this area. Dealing more effectively with customer complaints will help retention and reputation, but not all companies understand or prioritise this.

Oliver Banks: Go shopping to find the frustrations in your operation

There are many opportunities to fix the frustrations in your business. And this will yield benefits for customers, colleagues and shareholders. But whilst it’s obvious, it can easily be considered as “the way things have to be” or even viewed as too difficult to change. But in episode 210: Making Marginal Gains To Drive Profit, Oliver explored how you can find and fix these issues. Plus, hear 9 other ways to make small improvements to your business performance that will add up quickly.

Brian Dennis: Focus on listening and communicating with customers

205: Listening To Your Customers To Transform CX with Brian Dennis - The Retail Transformation Show with Oliver Banks

And finally, TruRating’s Global Head of Retail Strategy, Brian Dennis, joined to help explain how to listen to customers on a big scale.  And he highlights why this is especially important in the ever-evolving world of retail. Check out episode 205: Listening To Your Customers To Transform CX to discover why you might be missing out on really listening to your customers.

Even more golden nuggets

158: Golden Nuggets From The Third Year Of The Podcast (part 1) - The Retail Transformation Show with Oliver Banks

Each year, the podcast’s birthday is celebrated by a review of the best bits. If you’d like to mine out more golden nuggets, then listen to episode 158: Golden Nuggets From The Third Year Of The Podcast (part 1) and episode 159: (part 2).

Or you can check out all of the best bits episodes from all years.

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