Summary
- The future of commerce is shifting, with over $100 billion in sales predicted to occur through social media platforms in the coming years.
- Many people first discover new products on TikTok or Instagram, even before they appear in articles or retail stores.
- A number of traditional retail companies like Bed Bath & Beyond, Circuit City, and Pier 1 are struggling or have closed down.
- Understanding the changes in retail, both traditional and digital, is crucial for adapting strategies to current trends.
- It's important to learn from the experiences of retail professionals and marketers to see what is effective in today's market.
Video
How To Take Action
I would suggest exploring the world of social commerce because it's growing fast. Platforms like TikTok and Instagram are key places where people discover new stuff. To start, make sure your business or personal brand is visible on these platforms. Create engaging content that showcases your products or skills. You don't need big budgets; just a smartphone and creative ideas.
A good way of doing this is by learning from others who’ve found success. Follow successful brands or businesses similar to yours on social media. Pay attention to what they do well and think about how you can include those ideas in your plan. Also, check out free resources, surveys, or guides by retail experts. They can offer useful tips on adapting to the changing digital world without spending a dime.
Another suggestion is to keep an eye on underperforming retail giants like Bed Bath & Beyond. Understand what went wrong and use those lessons to avoid similar pitfalls. Adaptability is key, so stay informed about current trends and consumer habits by reading articles or watching videos about them. These small steps are low-cost and give you high value by keeping you prepared for future changes.
Full Transcript
Commerce is changing did you know in the next few years over100 billion dollar a year of sales is going to happen through social commerce a lot of times when you buy a new product you first discovered it on Tik Tok or Instagram before even seeing an article about it or even seeing it in retail stores and a lot of retail companies are dying look at Bed Bath and Beyond look at Circuit City look at Pier 1 so what we did is we surveyed over a th000 retail professionals and marketers to figure out what's happen happen with both traditional and digital and we wanted to bring this data to you in a free guide and this will help you figure out what do you need to adjusting your strategy based on what other marketers are seeing that is working in today's environment all you have to do is click on the link in my bio or right below and you'll get access to the free guide to download
