314: Reviewing Rufus, Amazon's New Chatbot

Many aspects of retail success are underpinned by the complexities of human psychology. Every decision your customers make—whether it’s choosing a product, responding to a promotion, or choosing to shop in a store or recommending to friends —is influenced by subtle yet powerful neuro-influences. These cognitive strategies shape perceptions, drive actions, and can unlock significant opportunities for your business. Are you using these to drive your business forward? And should you or does this cross ethical boundaries? Listen now to understand the powerful opportunities and dangers tucked into the psychology of shopping. Listen to this episode of the Retail Transformation Show and discover:What are neuro-influences and where are they used. How effective use of psychology can boost business performance.The unintentional dangers of misusing neuro-influences. The show notes are at www.obandco.uk/321.

Catch up on the best bits from the last 12 months of the podcast. Join Oliver Banks and celebrate 6 years of the Retail Transformation Show with clips and key takeaways diving into AI, 'As A Service' offerings, sustainability, connectivity and great retailing examples from around the world. Listen into some of the best bits. Listen into this episode to hear:How to unlock next-level digital experiences in stores. Why the customer experience is forged faster than you expect. Examples of excellent retailing from across the world. The show notes, including references to all of the topics discussed are at www.obandco.uk/320.

The strongest companies in the retail industry are those that continue to navigate the disruption and continually shift their focus on what matters most. The Retail Transformation Show continues to guide you to do that and the podcast is now celebrating it's 6th birthday. To celebrate, join Oliver Banks and take a look back at the past year and some of the iconic golden nuggets shared in solo shows and with special guests. Listen in to the first part of this best bits episode. Listen to this episode for:Highlights from different episodes, featuring expert guests and from Oliver Banks’s solo shows.Takeaways on topics like new business models, becoming human-centric, avoiding short-term thinking, collaboration and much more.The show notes and full list of episodes are at www.obandco.uk/319.

Delve into the dynamic world of retail expansion. As the retail landscape evolves, we're exploring how savvy retailers are not just surviving but thriving by strategically growing their physical presence. From harnessing the power of omnichannel strategies to creating adaptable store formats, we'll uncover the secrets to building a profitable, sustainable, and customer-centric store empire. Whether you're a seasoned physical store retailer or just embarking on the foundations of your retail estate, this episode is packed with insights to help you navigate the future of retail. Listen in to discover:How leading retailers are using stores to develop their omnichannel offering.How adaptable store formats are being used to meet customer needs and test and learn. Why data should be used to minimise the risk of opening new stores.The other crucial factors to consider when expanding your store estate. The show notes are at www.obandco.uk/318.

The rise of Retail as a Service (RaaS) has opened up transformative opportunities for retailers, but it also poses serious challenges. In this episode, join Oliver Banks to dive deep into the evolving RaaS landscape and explore the key factors that are shaping its future. From data privacy concerns to expansion into new categories, we’ll dissect the pros, cons, and potential pitfalls of this new business model. Whether you're considering RaaS for your business or are curious about the changing dynamics of retail, this episode offers fresh insights and perspectives on what’s to come. Listen to this episode now to:Understand how RaaS is both levelling the playing field and empowering major retailers.Explore the 5 emerging factors which are shaping the future of RaaS.Discover how non-retail companies are entering the RaaS space and what that means for the future.Show notes are at www.obandco.uk/317.

Retail-as-a-Service (RaaS) is a fast evolving segment of retail which offers new profit streams or the ability to quickly scale a new business or channel. Today, we're exploring how this model is reshaping the retail landscape. From the growth of global giants like Amazon, Ocado and THG to the rise of supply chain innovators like Shein, we unpack the key drivers behind this trend and what it means for retailers of all sizes. Whether you're considering adopting RaaS, already a provider, or wondering about the challenges and opportunities that this shift means for your business, this episode will offer valuable insights into the RaaS opportunity. Show notes are at www.obandco.uk/316.

In the digital world, consumers have an incredible volume of choice, with great visibility but also subject to near infinite distractions. So as retailers, when we have a moment of a customer's attention, we need to consider how to make the most of it. Todd Unger, the Chief Experience Officer of the American Medical Association and author of The 10-Second Customer Journey joins to explore more and share how commerce companies can drive meaningful transformation. Listen to this episode to hear: How customer perception is rapidly formed. Why there are no excuses not to offer a state-of-the-art customer experience.How to understand the customer journey from your customer's point of view.The show notes are at www.obandco.uk/315.

Amazon launched Rufus as its virtual shopping assistant, using Gen AI to support customers as they browse the ecommerce site. But is this a sign of the future of retail or just another chatbot? Join Oliver Banks as he reviews how Rufus performs and considers the longer term opportunities of this technology. Learn about the good and the bad of this initiative and decide if you think this could be an initiative that stands the test of time. Listen to this episode and discover: Whether Rufus is biased to pushing Amazon brands and products. Why Amazon still has work to do. Which new development is most surprising and why. Show notes at www.obandco.uk/314.

Retail is evolving at an incredible pace, with new innovations and trends constantly reshaping the landscape. But at its core, retail is still about one thing: connecting customers to their passions. In this episode, we dive deep into the most exciting aspects of retail today, including the role of content, stores and people. Discover why the true magic of retail lies not in the products themselves, but in how we help customers engage with and elevate their passions. As both a retailer and a consumer, this episode will inspire you to rethink the power of retail. Listen to this episode and:Learn how connecting customers to their passions is reshaping the retail landscape.Explore the role of omnichannel experiences and how they're evolving to meet customer expectations.Discover how custom products and convenience are driving the next wave of retail innovation.Understand the power of community-building and how retailers can foster connections around shared passions.Show notes are at www.obandco.uk/313.

Envisaging the future of retail can feel confusing and potentially a waste of time. We often get stuck in today's problems and challenges, or we go to the other end of the spectrum and consider radical science fiction ideas. But what if we step back and allow ourselves to imagine what retail, and specifically grocery, could look like in 10 years? In this episode, Oliver Banks dives into three exciting concepts from his latest collaboration with RETHINK Retail, exploring shopper-driven innovation, retail media's potential fall, and a revolutionary approach to grocery e-commerce partnerships. Join the conversation as we speculate on the future of retail and how it could impact us all. Listen to this podcast episode and:Consider how we could adopt online shopping tools into the physical store.Discover why we must be prepared for the rise and fall of retail media.Explore how the retail industry can overcome the challenges of unprofitable online operations. Show notes are at www.obandco.uk/312 where you can find the full RETHINK Retail report as well as more episodes to check out next.