324: Uncovering The Blind Spots Of Innovation

As we step into 2025, the retail landscape continues to evolve at a breathtaking pace. But what are the essential themes shaping the future of the industry? In this episode, Oliver Banks delves into the defining topics that retailers must navigate, from the evolution of AI to the growing influence of retail media networks. Discover how financial pressures, social commerce, cross-border trade, and Retail as a Service are setting the tone for the year ahead. Whether you’re looking to anticipate challenges or uncover new opportunities, this episode offers the insights you need to thrive in the fast-changing world of retail. Listen now to discover:Why financial management is even more in focus this year.How AI will evolve in the retail sector, and the opportunities and risks it presents for businesses.How cross-border commerce is reshaping convenience and consumer expectations.Why social commerce's special blend will drive the next wave of shopping.And more! The show notes are at www.obandco.uk/327.

The retail industry continues to change and transform, and in this episode, join Oliver Banks and look back at stand-out news stories from the past 12 months. As Amazon felt the heat of competition, we saw John Lewis reverse a major change. Meanwhile, many retailers struggled whilst AI looked to turn everything on its head. Discover the most transformative and strategic moves, as well as exploring crucial retail trends that have played out over 2024 and what they mean for 2025. Listen now to discover:Why Amazon are under pressure and how they're responding. Which technology is dividing the retail industry - and why it's confusing to decide what's right.How John Lewis are revising their strategy whilst also making big bets. Plus more important innovations and evolutions from across the industry. Show notes are at www.obandco.uk/326.

Omnichannel and personalisation are among the most overused terms in retail today. Omnichannel is too often condensed to the transaction and delivery aspects. Meanwhile, we sometimes forget how to add personality to our personalisation. In this episode, Oliver Banks is joined by Ines Clark, former Head of Global Strategy at Farfetch. Together, they break down the omnichannel customer journey and consider how to add the human touch into the pre-purchase stages in a personalised way, to genuinely help customers to shop. Tune in to explore the exciting opportunities for retailers to redefine pre-purchase customer experience. Listen to this episode to discover:Learn why omnichannel is about more than just buying and receiving - and consider what's possible for embracing omnichannel at other stages. How to rethink personalisation into two distinct components. Which sector should retailers look to for inspiration in omnichannel and personalisation?The show notes are at www.obandco.uk/325.

In the fast-paced world of retail, it’s easy to miss important trends and signals that are caught in our blind spot. Those hidden challenges and unnoticed risks can catch even the most seasoned leaders off guard. In this episode, Oliver Banks sits down with Carl Boutet, author of the new book BlindSpot, to uncover why these unseen risks occur, their impact on businesses, and how to avoid being caught off-guard. Together, they explore strategies for staying alert while balancing the critical elements of retail success, from customer focus and competitor awareness to operational efficiencies and financial health. Whether you're navigating technological innovation or operational changes, this conversation will help you sharpen your vision and stay ahead of the curve. Listen to this episode to discover:How to avoid being caught off-guard by the rapidly evolving world of technology. What the most important skills to be developing right now are.How to learn and adapt, as both an individual and as a company. The show notes are at www.obandco.uk/324.

Change is an inevitable part of business, but too much change can create fatigue—leading to confusion, resistance, and burnout at every level of an organisation. In this episode, Oliver Banks dives into the concept of change fatigue, exploring how it impacts teams, leaders, and even end consumers. we explore the root causes of change fatigue, its effects on every level of an organisation, and how you can make change more manageable and meaningful. Whether you're leading change, experiencing it, or supporting those who do, this episode will equip you with insights to ease the strain and embrace transformation effectively. Listen to this podcast episode to:Understand why too much change—too quickly or over an extended period—leads to fatigue and rejection.Uncover the hidden costs of change fatigue on productivity, decision-making, and customer satisfaction.Learn how to identify and address the mental strain caused by change to ease adoption and build competence.Discover ways to prioritize, plan, and orchestrate change to prevent burnout and confusion.Show notes are at: www.obandco.uk/323

Retail is a tough business, and even the biggest brands can face distressing times. In this episode, Oliver Banks is joined by retail expert Rhea Fox to uncover the essential lessons from struggling and failing retailers. Together, they explore the common challenges that distressed businesses face, the warning signs that often go unnoticed, and the root causes of financial difficulties. Whether you're looking to spot risks early, turn around a struggling operation, or avoid these pitfalls altogether, this episode offers invaluable insights into navigating the complexities of retail in uncertain times. Listen into this episode now to hear:Understand the shared challenges and root causes that lead retailers into distress.Spot the telltale traits of businesses that may not realize they're in trouble.Consider whether what the future holds for smaller vs larger businesses. The show notes are at www.obandco.uk/322.

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.