Ep 26: A DEEP DIVE INTO SHOPIFY AND ECOMMERCE MARKETPLACES WITH RICK WATSON
Episode Summary
Following up on Episode 23’s ReUnite recap, we’ll talk to marketplace strategy guru Rick Watson and continue our conversation about Shopify. Rick's the closest person I know to being a bonafide eCommerce futurist so he’s the perfect person to quiz on Shopify. Meanwhile, we’ll throw some broad eCommerce industry questions while we’re at it, too.
Typically, we can get into the weeds on tactics and tips to enhance performance. Though we all need to know the broader trends of eCommerce to stay ahead of the curve. This episode is a refreshing step back at the big picture, a 40,000 foot view of Shopify and where it’s headed, particularly in non-DTC areas such as marketplaces.
EPISODE HIGHLIGHTS:
[7:07] Rick’s bio including his work experiences at Channel Advisor, Barnes & Noble, and Pitney Bowes.
[10:30] How Rick quintupled his LinkedIn following in one year and his overall social media strategy for his consulting business.
[14:40] What does Shopify do well in the industry and how does it differentiate?
[19:05] Will Shopify get further into marketplaces like Amazon, Etsy and Walmart in the near future?
[22:11] A review of Shopify’s most recent announcement about the Shop App. Is it a step towards building a marketplace or not?
[24:09] What should Shopify develop next for merchants and what’s happened with its acquisition of Handshake?
[25:57] What’s the big picture of Shopify and its competition with other platforms?
[27:30] How Shopify has developed its own flywheel with its three unique advantages
[30:01] Why brands need to have an Amazon strategy on some level. The channel breakdown of non-DTC eCommerce
[31:35] Cross-border and international eCommerce and the top countries that companies expand to first.
[32:05] The recent announcement about a Walmart-Shopify integration. Should brands dive into that and work with Walmart.com?
[33:10] What’s the biggest takeaway from that Walmart integration. And what is Walmart up to?
[33:52] “The website is the template of the brand” The role of the DTC website now in a world of many marketplaces. The hub and spoke model for future eCommerce.
[38:15] The seven deadly sins of eCommerce marketplaces.
Links + Resourced Mentioned
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