255: Moving Beyond The Traditional Business Model

In an era where classic retail growth has decelerated and market shares have become increasingly elusive, businesses must look beyond the traditional boundaries to secure their future. The challenge? Venturing into new terrains requires more than just an innovative mindset—it calls for strategic adaptations, perseverance, and the acumen to turn intangible assets into profitable avenues. In this episode, we’ll dive deep into the innovative strategies businesses are adopting, from leveraging retail media and technology to harnessing the power of once ‘valueless’ assets. Join Oliver Banks and get ready to explore the expansive realms of the possible.

Listen to this episode to hear:

• The new avenues businesses are tapping into beyond the classic retail model.
• How Amazon evolved adding profitable elements through non-traditional business models.
• Why you must find the assets in your company that have no direct financial value.
• Potential pitfalls and challenges to anticipate as retailers expand their horizons.

 

Drive disruption with Oliver Banks

Oliver and OB&Co help retailers accelerate their transformation initiatives whilst successfully navigating disruption. Discover how, together, we can drive your retail transformation forward.

Connect with and message Oliver Banks on LinkedIn or by email at oliver.banks@obandco.uk.

Ask about the new Transformation Tune-Up and other services.

Bain research: 50% of profits will be delivered by “engine 2” initiatives

The below chart shows the growth of revenue and profit from the core business (“trade”) and new business initiatives (“beyond trade”) which was originally from Bain’s research: How Engine 2 Expansion Can Power the Future of Retail.

 

Additional episodes to listen to next

If you’d like to explore more episodes of the Retail Transformation Show podcast, be sure to listen to these episodes.

Episode 250: Becoming Fit For The Future, another solo show with Oliver, helps you discover 5 elements to becoming fit for the future, and how to re-engineer your business based on these 5 elements.

Disruption is a key type of transformation and offers the most fundamental changes. Listen to episode 229: To Disrupt Or Not To Disrupt and explore the strategies and risks to implementing a successful disruptive transformation.

Retail influencer, Ricardo Belmar joined in episode 214: The Evolution Of Retail Ad And Media Networks which is a good way to explore the opportunities better.

And finally, listen to episode 132 to discover how to Overcome The Confusion Of Transformation, including the key root causes that create misdirection and a lack of understanding around the transformation.