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Oliver Banks

I help retailers drive operating model transformation and change // Consultant & Advisor // Author: Driving Retail Transformation // Podcast: The Retail Transformation Show // Keynote Speaker

Oliver Banks is a prominent retail expert and the founder of OB&Co, a retail consultancy firm.1 As a Retail Transformation Director & Consultant, he specializes in helping retail leaders drive transformation and realize their strategic goals.2

Career Background

Oliver has an extensive background in the retail industry:

  • He started his career at Xerox, working in various engineering roles from 2003 to 2010.1
  • He then moved to Tesco PLC, where he held positions such as Project Manager, Lead Project Manager, and Programme Manager from 2010 to 2015.1
  • In September 2015, Oliver founded OB&Co, where he currently serves as the Retail Transformation Director & Consultant.1

Expertise and Recognition

Oliver is widely recognized for his expertise in retail transformation:

  • He has been named a Top Retail Influencer and Expert for multiple years (2021-2024) by Rethink Retail.1
  • Oliver is a Chartered Engineer (CEng) and holds certifications such as PRINCE2 Practitioner and Black Belt in Design For Lean Six Sigma.1

Publications and Media Presence

Oliver has established himself as a thought leader in the retail industry:

  • He is the author of "Driving Retail Transformation: How to navigate disruption and change," a book that provides practical guidance for retail leaders.2
  • Oliver hosts the "Retail Transformation Show" podcast, where he shares insights and ideas to improve retail performance.4
  • He is an active presence on LinkedIn, regularly sharing content about retail transformation and e-commerce trends.3

Oliver Banks is known for his pragmatic approach to retail transformation, combining strategic insights with practical advice to help retailers navigate the challenges of a rapidly changing industry.2

Highlights

Aug 30 · linkedin

Great to watch Costco vs the Supermarkets on Channel 5.

Lots of great insights from some familiar retail faces and friends like Martin Newman, Miya Knights and Clare Bailey FIPM, MCIPS. Plus useful snippets of how consumers think and consider shopping and product experiences.

But what was most interesting for me was the power of Costco's membership model. As with similar models like Amazon Prime, the upfront investment by the consumer means Costco are more likely to drive repeat purchases and retain customers over the long-term. In turn, that lowers marketing spend and enables better deals, meaning customers renew their membership.... It's a great example of Jim Collins's flywheel model in action.

But where as membership propositions like Amazon Prime unlock free shipping, video/music content and other benefits, it's amazing really that Costco's membership simply unlocks the ability to become a customer. This leads to some incredible results.

Whilst membership subscription fees only deliver 2% of the company revenues, they account for a staggering 72% of profits.

This is a great example of how non-retail business models can drive meaningful profits in retail businesses. Especially as margins get squeezed ever-tighter in the face of fierce competition.

Although Costco's history and heritage has always been focused on membership based retailing, it shouldn't deter other retailers from investigating and exploring new business models. They might just help drive major uplift in the bottom line and unlock customer benefits too!

The "Costco vs the Supermarkets" show is available to watch on demand from Channel 5 now.

Did you watch it? What were your key takeaways?

Aug 29 · linkedin

I'm thrilled to be moderating at the Digital Commerce Expo (2-3 Oct 2024) and would love to see you there. The event brings together leaders and innovators to discover the latest tools and insights to elevate your digital strategy and enhance your customer experience.

The line-up includes excellent retail leaders from Boots, Holland & Barrett, Dr Martens, Ted Baker, Interflora, Best Western Hotels, HSBC, London North Eastern Railway and more who will be sharing experiences on the hottest topics including CX, UX, innovation, personalisation and AI.

Registration is free - here's the link to sign up. https://lnkd.in/eWSZaEag

I hope to see you there!

Related Questions

What are some key takeaways from Oliver Banks' book on retail transformation?
How has Oliver Banks' experience at Tesco influenced his approach to retail transformation?
What are some common challenges Oliver Banks addresses in retail transformations?
How does Oliver Banks integrate digital transformation into his retail strategies?
What makes M&S a compelling case study in Oliver Banks' work?
Oliver Banks
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Location

Welwyn, England, United Kingdom