Shopify Tutorial For Beginners - The Future of Shopify 2018 - Video 2
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Video 2: In this video we talk about the future of ecommerce and Shopify. Is it saturated, is there to much competition.
Learn the answers to these questions and more.
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Tutorial Video 2 - The Future of Shopify 2018
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Tutorial Video 2 transcript - The Future of Shopify 2018
Video 2 – Where are we in the world of E-commerce
Hey Ezra here and in this video, we are going to look at where we are in the world of E-commerce and to understand where we are we have to understand where we came from and to that effect I’d like to tell you a little story.
Now I have a history of retail in my family going back generations my great grandfather was a trader in Colombia Russia so what he would do is he would take a horse covered wagon and he would take it 7 days journey to Vienna to purchase bulks of cotton and wool.
He would then take that cotton and wool back to his home town and trade it for leather. Then he would take that leather back to Vienna and trade that for more cotton and wool so he would kind of do that back and forth trading thing. He did very well with that business until the time of the world war and then my grandfather that was my grandfather Abraham this is my grandfather Isaac he came to America after the war and he was selling women’s clothing on lower east side.
At the time that all the Jewish people were selling Shmata’s they were like in the clothing business in New York and he would buy bulk material from one guy and then he would have it sewn by another guy and he had an actual shop that he sold out of in Orchard Street in New York City.
Then my dad and I between 20 and 30 years ago we sold things at the flea market we would get the kind of two teams playing the super bowl they make shirts for both teams in case one of them is going to win they got to have the shirts ready so we would get the shirts for the losing team and we would sell those at the flea market.
That’s really where I learned how to sell that’s really where I learned retail now if you look at the sort of ability that my ancestors as retailers had. So, let’s have a look my great grandfather could only actually sell to people on the side of the street, he had people in his local town and he had people who ran across while he was on his journey.
And you have my Grand Father this Isaac now and he actually had the traffic of Orchard Street he had the visibility availability of the people who actually came to orchard street, my dad Jack and I had everyone who was at the flea market, so people would come to the flea market and that’s who we could sell to, today I do exactly the same thing my family has done for generations except I build my shops online, I do the same thing we did at the flea market except I’m building my shops online and I’m not geographically limited.
I can sell to anyone in America, in fact I can sell to anyone in any first world nations. Check this out when I got started online in 2006 2007, this graph is showing 2008 I got started around 2006 and 4% of total retail transactions were done online meaning of all the transactions that happen only 4% of them were happening online from the bag of chips you bought down at the grocery store to the thing you ordered on Amazon.
Now up to 2014 that doubled so it was growing 15% year over year and the number of transactions that happened online doubled to 8% it’s still holding strong around 9% now meaning of all the transactions that are happening still only 8.5% are happening online. Now it's projected that by 2019 it's going to double again so the market is just getting bigger it’s a great time to be selling things on the internet.
The reason is that the millennial generation which is my generation are coming into their prime spending years and they don’t have any kind of hiccups around spending online, whereas the baby boomers didn’t want to put credit cards in online because they can purchase things mostly over the phone you know when they were buying things from stores which weren’t local. And so now that the millennial generation are coming into their prime spending years they’ve grown up shopping online that’s one of the reasons online spending is continuing to increase.
The next is generation x generation y and the baby boomers have sort of crossed the chasm so they’re totally willing to purchase online now, there’s no more hesitation and we live in a bit if a social media economy so people like to see, like to see what their friends are doing and it’s a lot easier to share products and share experiences through the internet so we are seeing a lot of product recommendations happening which is driving online spending.
And then there’s mobile consumption of the digital world, meaning people are literally on the internet way more than they were now that they can carry the internet with them and there is incredible comparison shopping online, there’s demand for niche products and we kind of live in this on demand society where people want stuff now and you can get things immediately when you purchase them online.
So, online spending is like really good and its happening a lot. Now if you look at this by country China is still the number 1 market they are crushing it, then there’s the united states, the United Kingdom, japan, Germany, France and a few others and as an E-commerce business owner you can now sell to anyone in any developed country.
If you’re a retailer in the United States you can retail in the United Kingdom you can run ads and there’s really no limit to how well you can do with an online business.
If you look at China for example only 2% of their population shops online and they did 17.8 billion dollars in a 24-hour period not so many weeks ago actually on their biggest shopping holiday of the year, which is a 32% growth over 2015 and only 2% of their population shops online so there’s a lot happening here and it looks really good time to get into online marketing you haven’t missed the boat. Something interesting that’s happened is that the way people consume the digital media has changed, people are no longer consuming the internet in front of a desktop computer they are now carrying it around with them, they are touching it, so what does that mean for you?
It means that 67% of consumers start shopping on one device and continue shopping on another, so they start on a mobile phone and continue on a desktop or they start on a tablet and continue on a mobile phone.
On Facebook 33% of people who showed interested on a mobile advertisement converted on desktop, they first saw a brand on a mobile phone and they ended up buying from that brand on a desktop computer.
In the United States 60% of adults have 2 devices meaning they have a mobile phone and an iPad or they have desktop and an iPad and a quarter of those people have 3 devices. Meaning they probably have a mobile phone, an iPad and a desktop or laptop. Now people are moving to bigger devices to make purchases.
So, they are starting their purchase decision on a mobile device, and this is going to make sense, I’m going to tell you where we are going with this I just want you to understand some of this stuff first so, they are starting on mobile phones and making purchases on bigger devices.
50% of people are multi-screening while they watch television meaning they are watching tv and on their phone at the same time, the thing about mobile world that we live in comes with fragmentation, meaning people are consuming content from a number of different channels.
The average person has 194 plus channels they consume from, meaning they are getting their information in Gmail they are on youtube they’re on Facebook they’re on Instagram they’re on Pinterest they’re on yahoo.
There’s 194 different channels that they're consuming content on and Facebook and Instagram, and this is where I am really going with all this, Facebook and Instagram account for more time spend on mobile phones then the next 10 channels combined and as you will see from this training course that we are going to build with these things in mind. We are going to take the frame of trying to mirror people’s user behaviour so basically trying to communicate with people where they are at, so if we know people are hanging around on Facebook we want to communicate with them there, or how they consume content we want to set up our content in a way that’s consumable as you will see in this course.
That’s kind of where we came from, we came in from a society of people that you kind of needed to be in a local area to sell something, and the internet has really changed that it's allowed us to reach people all over the world in an instant it’s pretty incredible a really special time we are the first generation of people who have had access to this and there’s not a lot of us who are paying close enough attention to actually leverage it to benefit our community and benefit our families.
I’m really excited that you are taking this training programme with me.
I’ll see you in the next video where we will continue to dig into how to effectively make sales through your Shopify store online.
See you there.
How To Brand Your Shopify Store - Video 3 Of 20
Are You Still Struggling To Make Your First Sale On Shopify?
Watch This FREE 20 Video series on how to make your first sale.
Video 3 Of 20. In this video we talk about branding and why it's important to your success and how to brand your Shopify store to make sales.
Video 3 Transcript: How To Brand Your Shopify Store
Hey Ezra here, and in this video, we are going to talk about Mission, Story and Purpose and the reason we are going to talk about that is the faceless e-commerce store is dead and I want you to be successful with your e-commerce brand.
What you have to understand is that the days of like slapping up a store with a bunch of random products and not having a story about who you are and who your brand is are over.
You have to connect with people and you have to tell them story about who you are. You have to know your differentiator, you have to tell your customers who you are, and you have to have a core story that you tell about your brand.
That comes down to branding, tagline and ethos. I’m going to give you some examples for your brand that you can kind of use as inspiration. How do you come across to your customers do you know what aesthetic appeals to your market do you have a tagline that tells your story in one sentence and do you know what emotional response you want to elicit?
I’m going to give you some examples so you can put this together for your brand. So everlane.com they are a phenomenal fashion brand they are online only, there differentiator so the thing that they do different is that they offer high fashion at transparent prices. So, you have to know what are you doing different to your competitors.
Who they are and who they targeting is sort of young hip techie disruptor's, there story is radical transparency so the story that they are telling is like hey we are super transparent about where this stuff comes from an its cost. The aesthetic that they have for their brand is sort of pared down, simple, clean, elegant and their tagline really kind of tells their story in one sentence know your factories. Know your costs. Always ask why.
And the emotional response they are trying to elicit in their customers is that of revolution, join a cause. Now Boom by Cindy Joseph is my brand, our differentiator is pro age messaging everyone else is telling a anti age story about how age is bad we take a different approach so it’s a different message to everyone else in the marketplace, who we are targeting is women over 40.
Our story is actually a personal story about the public figure behind the brand so the story of our brand is Cindy Joseph. So, a great way to do a brand is to have it be based around someone’s experience. Our aesthetic is pared down, simple clean and elegant. Our tagline tells the story of our brand in one sentence. It’s about women. It’s about beauty. It’s about time.
And the emotional response that we are trying to elicit is also revolution. Now the next example is Coyuchi they are an online furniture store and they sell like bedding and stuff like that and their differentiator is that they are green, they are eco-friendly and products are minimally processed. Who they are targeting is environmentally conscious women. Their story is nature to home and there aesthetic is kind of forest, handmade, pure, clean that’s kind of what they are going for in how they look online.
The tag line says nature comes home so that like tells their story in one sentence. So, it tells their story in one sentence, and the emotional response they are trying to elicit is mindfulness. So, have this baseline content that brings your brand together it’s going to affect kind of your ad copy it’s going to affect images you create it’s going to affect your product offer page.
I’m going to be getting into things like product offer pages shortly before we actually get into how we actually advertise our brand but you have to understand what your differentiator is as a brand, who you're trying to target, what your story is, what aesthetic is, what your tagline is and the kind of emotional response you want to elicit in a prospect.
So, make sure you have got this list down and you are kind of working with it as you create your store and as you create your brand and as you create your message. Thanks for watching, I’ll see you in the next video.