Future Commerce
Insights Per Minute- Shopify is subsidizing R&D with its App Developers
Episode Summary
How are cows like brands? What is a merchant vs a retailer? How is Shopify creating market pressure with its most recent announcements? Listen now!
Episode Notes
The Multiverse is Real
- “Brands are like cows because it’s very easy for them to understand how things affect them, but it's very hard to see how things in the world affect others.” -Brian
- Technology can act as a containing—or limiting—factor. It can enable cost savings, but it can also be an enabler of more meaningful interactions.
- Shopify is looking to the future as a global empowerment of a merchant class
- Digital channels for legacy retailers boomed during the pandemic. Why? Default behaviors are latent. We will always regress to defaults, especially in a retail context. Best Buy is a great example of this; as are Lowes and Home Depot. Digital success was bolstered by physical defaults.
- For the first time in a decade, eCommerce is facing headwinds. Why? Because traditional brick and mortar retailers are experiencing tailwinds due to reopening. The roaring twenties will prove to be difficult for eCommerce businesses.
- Where is luxury headed? Luxury is the silence of money and not constantly being barraged with ads.
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