Published on: February 7 2023 by pipiads
Table of Contents About commerce+ shopify
- Shopify vs Wix 2022 (Don't choose WRONG!)
- I Tried Shopify Dropshipping With NO MONEY For 1 Week
- What is Shopify and How Does it Work [Shopify Explained]
- Top 10 Shopify Apps You SHOULD BE Using In 2022 (E-commerce Tips)
- Shopify: 'Connect to Consumer' Is the Future of E-Commerce
- Selling NFTs on Shopify | The future of e-commerce in Web 3.0
Shopify vs Wix 2022 (Don't choose WRONG!)
I Tried Shopify Dropshipping With NO MONEY For 1 Week
so in this video, i'm gonna start a brand new shopify drop shipping business and attempt to take it from zero dollars to over one thousand dollars in just one week. and i'm not going to be using any money for this challenge, and i know a lot of people think you can't start a drop shipping business without any money, but we're gonna prove them wrong in this video and i'll be starting the drop shipping business completely from scratch and walk you through the entire step-by-step process, and at the end of the video, i'll show you exactly how much money the business makes. honestly, i'm hoping it's gonna make over a thousand dollars, but we're just gonna have to wait and see. so i have a lot of stuff that i have to get done today, and the very first thing i want to do is just find a good product to sell, and then after that, i'm just going to find a good supplier. then i'm just going to create my online store with shopify and then after that, i'm going to start creating advertisements, and for this challenge, i'm basically going to be using pinterest, instagram and tiktok and just basically post viral videos on there for free. and yes, this method does work well, since i do use it on my current drop shipping businesses that make over six figures. okay. so the first thing i want to start by doing is trying to find a good product to sell and, honestly, as long as i can create viral videos with the product and it has high demand, it's something i can work with. and, honestly, i find about 99 of my viral products on tiktok, so i'm going to kind of show you my strategy and how you can do this yourself. so kind of what i do on tik tok is just search up tiktok made me buy it- then i'll just click on that little hamburger icon in the top right corner, then i'll just change the date posted to this month and now it's going to show you a bunch of relevant winning products that are selling right now. and some other hashtags you can do this with is amazon fines, drop shippers exposed and tiktok viral products. but anyways, i'm going to take the next 20 minutes to try to find some good products to sell and once i do find something, i'll come back and update you okay. so, honestly, i found a ton of really good products, but there is one that stood out to me the most, which is the cordless hair curler. and for anyone who doesn't know? the cordless hair curler is really convenient for females, since you can kind of touch up your hair anywhere you go, and there's so many stores on tiktok selling this product, so if they're doing well, i'm sure i can also do the same. all right. so the next thing i want to do is find a supplier that i can get the product from, and so for this video, i think i'm going to use spocket. so i found the cordless hair curler on spock it for 28 dollars and 30 cents, which is really good, and the shipping times are only seven to 14 business days, which is also ideal, and i think i'm gonna sell the product on my store for 59.99. now i've actually seen a lot of stores sign this product for over a hundred dollars, but because i do want to sell a lot of product in a short period of time and i don't want it to be too expensive, i think 59.99 is a good number to stik with, and if my customers do see that other stores are selling it for over a hundred dollars and i'm only selling it for a fraction of that cost, i'm sure they'd rather buy it from my store. now i do want to add one other product to my store, and i'm thinking just to make it an upsell. so, anyways, i found this heat protectant spray and i think it goes really well with the cordless hair curler, and i'm thinking to sell it on my store for 19.99, and it's only going to cost me eight dollars and 27 cents, which is pretty good, and if you do need a supplier for your drop shipping store, i'll leave a link for spock it in the description of this video. but, anyways, now i got the product, which i'm happy about, and so the next step now is to actually start building my shopify store, and i do want my store to look like an actual brand, and so it is going to take me a little bit of time to build it. so, anyways, i'm going to start working on the store right now and then i'll update you tomorrow once i'm done. all right, so it's the second day now and i finally finished the store and i made it look very simple and clean, and i'm going to show you the page that the customers get redirected to. so, anyways, i have different color options here, and i also did add a sales timer to create sense of urgency. i also included a ton of high quality photos, which is really important, and i also added this to build more trust with the customers. and if you scroll down here, you can see i put what's included in the package, then i tok about the benefits of buying the cordless hair curler, then i added some frequently asked questions and then i also do have a 30 day money back guarantee. a lot of customers won't buy your product if you don't have this, so make sure you do. and if you scroll down here, you can see that i did include how the cordless hair curler works, so this just makes it look really easy and straightforward. and all the way at the bottom of the page i did include some customer reviews. now, i obviously did import these reviews to my store, but usually i do have real customer reviews. but that's pretty much it for the store and i think it looks pretty good. but anyways, now that i'm done with my store, the next important thing i have to do is add a shopify app called after sell to my store, and the reason i'm going to use after sell is because it can increase my revenue anywhere from 10 to 15, which is exactly what i want. and afterstok is for post purchase upsells, and if you don't know what that is. it's basically when you offer a customer a product to purchase after they've already purchased something from your store. for example, after someone purchases the cordless hair curler from my store, i can then offer them another product to purchase. so in my case, i could upsell the heat protectant spray, since it works well with the cordless hair curler. and post purchase upsells work so well because if a customer just purchased something from your store, they're more likely to purchase another item, since you already built that initial trust, and you can even give them a really good discount on the upsell offer, which will then make them want to buy it even more. now, one thing you never want to do with upsells is actually offer them to the customer before they've made a purchase. this will just end up confusing them and they might not end up buying the product at all. but the good thing about after sell is that the upsell offer only comes after a customer makes a purchase, which is exactly what we want. but anyways, i'm actually going to create an upsell offer using after sale for my store right now and kind of walk you through the process step by step. okay, so the very first thing you want to do is go to the shopify app store and just search for after cell and it should come up. so it's going to look like this: after sell, post purchase, upsell. so let's add the app. okay, so once you're in after sale, the first thing you want to do is click here on enable settings. then it's going to bring you to the shopify page. so just make sure you click on after cell, then just click on save. okay, back here, let's just refresh the page. okay, now the first thing we want to do is actually just set up our first funnel. click here on create and i'm just going to name this funnel: heat protectant. so here i want to click show this funnel to all customers. since i only do have one upsell product. okay, now i'm going to choose the upsell product and basically what i'm going to be upselling is this heat protectant spray. now, the cool thing here is, if the customer actually does end up purchasing this product, you can offer them another upsell, and if they decline this product, then you can offer them a downsell. now, since i don't have any other products, i'm just going to keep it like this, but you can add products in here. now. next thing i want to do is click here on edi.
More:😲 Top 10 Shopify Winning Products To Dropship in April 2021
What is Shopify and How Does it Work [Shopify Explained]
Are you interested in selling goods online? Are you writing the next great e-book? Or could your new hobby become your next big side hustle? If your answer is “yes” to any of these questions, then you’ve probably come across Shopify. But what is Shopify exactly? And- more importantly -, how does it work? Well, no need to fear, because we’ve put together the ultimate guide to this all-in-one e-commerce platform so YOU can take your business to the next level. What’s good, Mavericks? Welcome back, And if you are new to us, please make sure to subscribe to our channel AND click the bell right here (point over left shoulder). Nothing makes us happier than seeing our community of business-minded, tik-savvy viewers grow each week(nodding: yes, yes, yes). So today’s video starts off with the big question: What Is Shopify? Well, Shopify is a cloud-based software that’s packaged as a service shopping cart solution and allows businesses to set up an online store with little to no hassle. For starters, this e-commerce platform provides users with multiple pricing plans to choose from, making it a suitable option for businesses of all sizes. That means everyone, from startups to enterprise-sized businesses, can benefit from using Shopify’s easy-to-use features, AND there are also plenty of integrations to help grow your business, too. So how does Shopify work exactly. Acting as a cloud-based software, Shopify offers its users monthly subscriptions with access to an admin panel where you can enter your store info, add products and even process orders. The software is also extremely straightforward to use and only comes with a small learning curve for first timers. So don't worry--you can get your online store set up and running with just the click of a button. And for those who love having plenty of options to choose from, Shopify has a wide selection of free AND for-purchase design templates to make your store as stylish as you’d like, Varying from clean and modern to fun and vibrant. the platform’s templates can be tweaked to your liking by using any of Shopify’s editing tools now available at your disposal. This makes it easy to customize any theme to best fit your brand. If the creative freedom isn’t convincing enough, we should probably also mention how a subscription with Shopify includes secure, reliable web hosting for your website. So say goodbye to worrying about your site crashing during peak traffic hours or hackers hijacking your transactions. Shopify’s got you covered. Now that your account is made and your template looks great. the next question is: What can I sell on Shopify? Well, for starters, you can provide your customers with Handcrafted goods, Beauty supplies, Home goods, Outdoors gear, Clothing, Digital products, Online classes, Events, Gift Cards, eBooks And much more. But even with its great versatility, Shopify might still not be for everyone. Like with everything, it’s always important to weigh the Pros and Cons before making a decision. First off, The Pros: Easy To Use. - Low Startup Cost. - Beautiful Themes. - Good For Dropshipping. - Lots Of Support Options. The Cons: Limited Functionality. - Costly Add-Ons. - Transaction Fees - Strained Customer Support. If Shopify still sounds like a great option for your business, you’re probably now wondering How to use Shopify. Well, there are 7 basic ways for you to get the most out of your Shopify subscription, and we’ve broken them down for you right here. 1 - Starting with #1: Look into Shopify payments. If you choose to use Shopify’s in-house payment processor, Shopify Payments, you can actually have the transaction fees waived. Sounds great, but make sure you read through the Terms of Service before you count on enabling the feature. If you’re still interested in learning more about the pros & cons of Shopify Payments, I suggest you read our full artikle linked below, And if you need another payment processor, make sure to check out our website for more information. Next comes number 2 - Utilize Shopify themes & templates. Shopify is best known for its ease of use and modern web design, And at Merchant Maverick we are big fans of the drag-and-drop Section’s Editor. But let’s say you want even more control over your site’s design. Well, Shopify lets you change your template design by editing your site code as well. So for any coding wizards watching, feel free to make your Shopify site as personalized as you’d like. Number 3 - Become multikhannel with Shopify POS. When you sign up for Shopify’s eCommerce store, you’ll automatikally gain access to Shopify POS. Whether you have a brick-and-mortar or a pop-up shop, this software will make running your business easy with its in-house POS system. HOWEVER, if you are becoming a multikhannel merchant WHO SELLS IN-PERSON AS WELL AS ONLINE, Shopify is definitely a great option for you. If you’re interested in more specific information regarding credit card processing and how to use Shopify POS, we’ve written a full review available at the link below. And that now brings us to our 4th option: Try selling digital. Selling digital products allows you to benefit from all the perks of selling online, while eliminating one of its biggest downsides: shipping. By using Shopify’s native digital product features, you can sell downloadable merchandise to customers anywhere. This includes marketing your MP3 files and distributing printables, videos or even ebooks to your clientele. Customers can instantly download YOUR digital products directly from your site, taking your business right into the modern age. Coming up next on our list is Number #5: Start A Blog. Maintaining a blog can work wonders for your online store. Not only do regular blog posts boost your SEO rankings, but they also help build your brand’s identity. Fortunately, Shopify is one of a handful of shopping carts that comes with its own built-in blog features. You can write, edit and publish blog posts right in your admin panel, allowing your customers to get to know YOU a little better. However, while Shopify’s blogging capabilities make it stand out amongst the rest, I should warn you that its features are pretty basic. Nevertheless, a few personal posts here, and there are better than none Following. this is number 6…. Tap Into Shopify Customer Service. Shopify is a leader in today’s e-Commerce industry when it comes to free tiknical support. This includes a handful of services like phone support, email support, live chat, written documentation, video tutorials, webinars and even a community forum for larger discussion. And last, by not least, rounding out our list is Number 7: Shopify’s MANY Add-Ons. Make sure you take advantage of them. While the e-commerce platform comes packed with a whopping 3,500 add-ons, and counting the 3 major ones that users are crazy about include ShippingEasy, Ordoro, a shipping solution, and ShipStation. Of course, there are countless ways to make the most of your Shopify experience, like Shopify Shipping or Integrations with Amazon & eBay, But if we didn’t quite cover all of your Shopify questions or concerns and you’d like to discover more, check out our full artikle currently posted on our website And, in case you want to experience all of these wonderful features yourself, you can sign up for the 14-day FREE TRIAL TODAY. Please be sure to leave us any questions or suggestions you may have right here in the comments section below, And, as always, your personal experience using the software is more valuable than any advice I can give. Thank you for watching and see you next week For other POS or eCommerce solutions. check out our playlists or visit.
Top 10 Shopify Apps You SHOULD BE Using In 2022 (E-commerce Tips)
hey, everyone davey here, welcome to our first video of 2022. today we're going to go through my 10 favorite shopify apps. shopify makes it so easy to install apps. it's one of its super powers. apps can increase conversion rate, increase average order value and make you a ton more money. apps need to come with the warnings, though. if you use the wrong apps, it can slow your website down and leave a ton of money off the table. for those that have been following along in our lemon scrub series, you know that we've got our website all set up. now it's time to install apps. if you haven't been following on, that's okay. i'm just going to use the lemon scrub as an example in this video. none of these apps have paid me for this video. there are a couple of affiliate links down below, but i'm going to give you lots of alternatives and outline the pricing so you can make the best choice for your business. let's get into it. the first app that we're going to cover today is perfect if your product is low average order value, so basically under 70 or so. with products like that, shipping costs a lot of money compared to the actual revenue that you can bring in per order. the app is called ship scout. it's always difficult to understand when you launch your product whether you should offer free shipping or charge a little bit. free shipping should be more appealing to customers and therefore increase your conversion rate, so the more people that go to your store will actually end up checking out. a lot of brands will actually just add the cost of shipping onto the price of their product, making their product just a little bit more expensive. to cover that cost, what ship scout does is it allows you to actually split test that concept. what this allows you to do is actually test shipping thresholds. for lemon scrub, for example, if we're selling for 40 and we have a free shipping over 50 offer on the header bar, it would entike people to actually purchase two of the product, drastikally increasing our average order value. naturally, with all split tests, if you're trying to raise prices- which in this case you are- for the people that only wanted to buy one lemon scrub because you're going to charge them shipping, you should expect a conversion rate decrease because less people buy, because there's less value. i've been following along on twitter and there's been some really strange results for this app. not only have people been receiving an aov increase with their orders, but a lot of people are actually reporting that conversion rate also increases, which is completely counterintuitive. one theory behind this is users are just thinking they're getting a better deal with a free shipping offer over the threshold. if you're currently charging free shipping and you've got low margin products where people can buy a couple of them, i definitely recommend trying it out. to find the app, all we need to do is go to the app store right in ship scout and it's just here. there isn't a huge amount of reviews on it yet because i do think it is still early. the reviews are good. we can just add the app. as you can see, it's 49 a month and a seven day free trial. so maybe try to run a significant test within that seven days to hedge your bets. as with installing all new apps, if you are doing a lot of traffic through your store, you may need to vet the app from a speed perspective first. you can have a dummy store and install the app and check the speed in google analytiks. one disclaimer about this app is that you will need to be using the advanced shopify plan, which is 299 dollars a month. so if you are a new brand, then it may not be right for you. one option is that you can upgrade your shopify plan to the 299 option, use the free trial of ship scout at the same time and then just revert your shopify plan back. so the actual cost of using the shopify app is just the difference between the basic and the advanced shopify plan. the next app that i highly recommend that you use this year is called dexter, or neat a b test. both of these apps are incredible at split testing pricing. pricing is one of the most underrated split tests that entrepreneurs just refuse to do. there's a few reasons why they refuse to do this. firstly, they're worried that customers will see both pricing. this is very unlikely. even if you're a huge brand, customers definitely don't pay this much attention to your business. much like ship scout, price changes will affect a few things. they'll affect conversion rate, but they'll also increase the revenue that we can create per visitors. so therefore the profits. i suggest using these apps to split test pricing in intervals that are relative to the product price. for example, if your product is around fifty dollars, split test the pricing by five to ten dollars. if your products five hundred dollars, maybe you wanna split test by fifty dollars. this is great to do early on, but also as your brand adapts over time, especially with the current fears of inflation, what will happen is prices will go up across the board. this is the perfect opportunity for you to raise prices because your suppliers, your freight forwarders and your couriers- they're all raising their prices. so you need to pass those costs on. reasonable price raises shouldn't affect your brand as much as you think. one of the worst things that you can do is just constantly keep absorbing those costs until your business stops being profitable and therefore you actually go out of business. so to find these apps, i'll start with neat a b test. neat a forward slash b, and it should be this first one just here. so it's got 39 reviews. you can see the dexter app is an ad above it, um, which is the other one that i have used. um, that's that one is actually charged out at 3.99 per 100 visitors approximately. so the more people that you use the split test with, they'll actually charge you, which can add up to be quite expensive, but it is a really effective app. i like it. and neat a b testing is around 29 a month, um, and you get the the 14 day trial there as well, so i'm just going to add that up to our store so we can use it later. the other option that you do have with split testing is to use a big, robust tool like google optimize or optimizely. google optimize is free, but it is quite hard to use. you will need to use something like google tag manager to set up events. if you've got a clothing store, google optimize can be a really good way to split test all your pricing at once. you can actually duplicate all your products and create a split test, pushing people to one collection page of one pricing and the other page with the new pricing. these apps that i just mentioned, though, are far simpler, and you can just test single product variants very, very easily. the next app that i recommend is okendo. these guys are doing some really cool stuff. reviews are incredibly important to make your shopify look trustworthy and increase conversion rate. a kendo seems to be a really robust tool that is offering lots of customizable review options, so, for example, if you're a clothing store, you can actually ask people to review things like the fit- is it true to size, or even the softness- is it comfortable? these reviews can then be paired with photos and videos to really make sure that the customer believes the review is real and guide their decision making. a kendo starts at around 29 a month. the alternative that a lot of people use is luke's. however, what seems to be happening with luke's is a lot of dropshippers are actually using the brand, which is decreasing the credibility. there are a lot of review apps out there. make sure that your one isn't slowing down the website speed so we can come into here and go ekendo and you can see the product reviews right here. it's got 424 reviews at 5 stars. people are loving it. the customer service is really, really strong. the alternative they did mention was luke's, which is here. it's obviously far more popular at this stage. definitely hit scale, but a kendo might catch it. luke's is cheaper, at 9.99 a mont.
Shopify: 'Connect to Consumer' Is the Future of E-Commerce
first, i want to get your your sense of what is happening with the economy. shopify hasn't necessarily been spared here, but what's your feeling about just how bad this will get and if a recession is inevitable? i think traffic emily, always a great pleasure to be on your show. two things, let's first tok about the retail outlook and, i think, consumer sentiment. what we are seeing is that re there's certainly some some retail rebounds happening in areas like in-person retail, um, and we are well positioned there. i mentioned on the earnings call last quarter that we saw physical retail gmv up by nearly 80 year on year um. and then when we add things like you know we- one of the announcements today was local inventory sync on google and tap to pay- uh, we really are well positioned to ensure that if physical retail is rebalancing and reopens that shopify merchants can also use that as well. but one of the things we're seeing from a sort of a macro perspective is that consumers are very much still voting with their dollars to support independent brands. this is something we saw happen very quickly and and intensely during the pandemic. they are looking for quality products and and certainly a lot of the shopify merch are doing well there in terms of the economy in general, it's clear that, obviously, inflation is at a record level, but to the degree in which merchants wallets are stretched from higher prices, what they're beginning to do is they're looking to get more value out of every single dollar, and what we're seeing is that more merchants are coming out to shopify and they're taking more of our products, whether it's capital or payments or fulfillment. they're leveraging our massive economies of scale while still keeping an independent business. so, um, we, we think both those things lead to a lot of optimism on our side. and, of course, shopify editions was launched today. right, you are making this big shift from d to c to c to c, as you call it, direct to consumer, to connect to consumer. what does that mean and why do you think that's the future? so this idea of shopify editions which we announced this morning- uh, uh, 9, 30 am. it introduces what we're calling, uh, the connect to consumer error of commerce, and part of it is that you know the speed of innovation and the depth and breadth of what shopify is building. i celebrated my my 12th year anniversary last week at shopify, so i've been around for about a third of my life. thank you, uh, the amount of products that we're shipping right now is is stronger than ever before. we unveiled more than 100 new product updates and launches today, and i think we are moving faster than ever, and and shopify editions is our way of sharing that momentum with the world. now i think you know, if you've- i've been on the show a lot toking about direct to consumer, which really was about this one-to-one connection with the brand to the consumer, but it was very transactional. what we are notiking is that more and more consumers want to connect with these brands online, on social media. they want to attend an event or their store. they want to have more of an emotional connection whereby they can connect with brands across a whole bunch of different, uh, surface areas, and so commerce is really just not about the transaction. it's much deeper, and we think c2c really places more authentikity and loyalty and trust at the heart of every single merchant interaction, and, and so a lot of the products you saw today is really about us ushering in this new model for commerce. you're also striking a big partnership with twitter to help businesses reach buyers there, and i just wonder why now, when twitter is facing all of this uncertainty about whether elon musk buys the company or not, and if this partnership will hold up in a new regime. we think the future of retail is going to be retail everywhere. it's going to be online and offline, on social media. it's going to be in person, at farmers markets, at events and concerts. we really are, you know, i think we started as being an e-commerce company and you know about 10 of all e-commerce in the us now flow through shopify. if we were, one single aggregated story would be the second largest online store in america. but the key here is that commerce in the future will happen everywhere, and so we we've announced- i've come on the show and toked about our integrations with google and facebook and instagram and tiktok to embed commerce there. and then the newest one that we're embedding, the newest partner we're embedding commerce with, is twitter. now, twitter's an interesting one. of course, they're in the news a lot lately, but you know, if you think about where commerce used to happen, it was always sort of around the town square. it's where the baker sold bread and cobra sold shoes. twitter, in some ways, is the modern day digital town square, and so embedding commerce right into twitter so you can turn conversation into commerce, all powered by shopify, we think is a really great thing and, whether or not you know they have a new owner in the future or not, i think commerce will play a role in twitter's future. okay, i recently interviewed amazon ceo andy jassy harley, and i'm not sure if you caught this, but when i asked about amazon's relationship with third party sellers and the tension that has existed there between amazon and some third-party sellers, he took kind of a dig at shopify. take a listen to what he had to say. sellers don't really long for e-commerce software. that exists in lots of places and it's not very expensive. what they love about selling on amazon is that they get access to our hundreds of millions of customers, and that completely changes what their prospects can be in terms of the businesses they're building. what's your response to that? i think that, uh, it is quite clear that the future of retail is going to have direct connection between brands and the consumers. look, i mean, obviously, a place like amazon allows third-party sellers to access a very large network of consumers. but if you look at any of these marketplaces, you, as a merchant, you are not building your own business. you are effectively renting customers from the marketplace and i think for some merchants that matters, but for a lot of merchants- if you think about, your favorite brands are mine, james purse, or the albert shoes i'm wearing or bombast socks i'm wearing- they want to have a direct relationship with the people that are buying their, their products, and i think that more and more, you see consumers again choosing to go direct whenever possible. so i think there's a place for marketplaces and obviously amazon has done a great, a great, uh, a great thing there and is very valuable in that way. but i think consumers also want to have a direct relationship with the brands they're buying from, and that's the reason why you see companies like mattel and crayola and herman miller and procter gamble use shopify to go direct to consumer. these are brands that traditionally never did so and now they're doing that. now, harley, you know shopify shares have taken a a pretty big dive, uh, since november, where they had hit a high point, and obviously we're in the middle of a broader market turmoil. but how concerned are you about this and going forward? you know how are you thinking about this? what are investors missing? i think shopify was certainly a pandemic story and i think obviously you know the stok reflected that i think what, what? a lot of people are missing. but the shopify story is that on one hand, we're 10 of all e-commerce in the us. we have massive scale. at the same time and those economies of skill that come with it. at the same time, the two million stores on shopify have an independent business the same time. that happens every 30 seconds or so, a brand new entrepreneur gets their first sale on shopify. that means we are not only getting a larger piece of the pie, we're growing the pie itself, and all those stores that end up in businesses that have been really successful will stay on shopify indefinitely, and
Selling NFTs on Shopify | The future of e-commerce in Web 3.0
so you can now mint and sell nfts on shopify as someone in e-commerce. if you haven't been looking into nfts before, now is the time. nfts have officially entered the mass market and i'll show you how in a second. in this video, i'm going to unpack the use cases and examples of how direct-to-consumer and e-commerce brands can use nfts. spoiler alert: nfts are not just expensive jpegs. i'll show you three very specific examples of the utility of nfts for your brand, including case studies from brands like clinique, hugo boss, nike and adidas, and we'll also tok about the risks associated with this market. my name is casey luck. i run lucknco agency. are you ready? let's dive right in. first, a quick definition. if you don't fully understand what an nft is, i will link to other videos in the description that explain this concept in depth, but for our purposes here, i'm going to give you an accurate, but probably not a 100 scientific definition. an nft is a digital asset that is unique and represents ownership of something. that ownership is programmed on blockchain, which means that it's easily verifiable, secured and transferable. in other words, nft is a way for people to really own digital stuff, including the ability to resell it in the physical world. when you own something, you usually have a way to verify that ownership and you're able to resell the thing. with nfts, that type of ownership is now also possible for digital assets, and not only cad gifs and jpegs, but also things like virtual wearables that you can take from one virtual environment to another, an access pass to events, a lifetime coupon code or really anything that you can come up with. an important aspect of this is that nft is a contract and, as an nft creator, you are able to bake in any type of benefits into the ownership of that nft. the first industry where nft's really exploded in 2021 is art. creators can now sell their works as nfts that are hard coded to generate royalties from all future resales in perpetuity. this means that every time one of their works is resold at auctions, on marketplaces, on streaming services and so on, the actual creator is compensated directly for each of those resales, along with the new seller, and that has never been possible before. the important distinction that i'm trying to make here is that nfts are not just jpeg images that are being sold for millions of dollars. nft is a tiknology that allows ownership of both digital assets and benefits in the physical world. if you're enjoying this video so far. please click, like and subscribe under the video. also, please drop a comment. do you already own an nft? what is your biggest question, concern or excitement when it comes to nfts? i'd love to learn and chat with you about it in the comments. comments also really help us promote this video. so even if you just say hi, that really helps us a lot. if you think that nft is a tiny market for now, with just a few crazy people willing to pay millions for jpegs, you're not entirely correct. there are four million people in the us alone who have bought or sold an nft. in just the third quarter of 2021, the nft sales totaled over 10 billion dollars, representing a 700 growth from q2 of 2021. and now shopify entered the space. remember what happened to e-commerce and drop shipping. once shopify became mainstream, the space exploded to the point where now it's almost oversaturated. that's likely exactly what's going to happen to the nft space. shopify simplifies the process of creating and selling nfts for merchants, which will lead to a much broader adoption by brands. on the buyer side, it makes buying an nft from your favorite brand super easy. you don't even need to have a crypto wallet or any cryptokurrency at all, because shopify enables credit card payments for nfts, and if tiknology adoption by big corporation is any sign of that tiknology's popularity. here are just some of the examples of brands who are already launching their nfcs in one way or another: nike, adidas, asics, gucci, dolce gabbana, coca-cola, pepsi, jimmy choo, clinique, givenchy, l'oreal and many, many more. so are you ready to learn about the use cases of nfcs for ecommerce? if so, please hit like on this video if you have not already. the more likes we get, the more videos about nfts will create. nfts could potentially replace loyalty and rewards programs for e-commerce. you simply verify your nft on the site and get your lifetime 20 off, as an example. as a branded nfc holder, you might also get invites to exclusive online and offline events or even have a say in what that brand does next, because your most loyal customers don't really want another vip program. they want to say in what you make next, and when the consumer is done with a brand, they can simply resell that nft to someone else. let's look at a real case study of how nfts can be used for loyalty and rewards from clinique, a brand owned by estee lauder. instead of selling nfts, clinique opened a contest for its rewards members, where the winners received free products for 10 years, along with an nft artwork called metaoptimist. the nft is a conceptual molecule that changes colors based on the two of clinic's most popular products: the moisture surge moisturizer and a lipstik called black honey, a 50 year old product that sporadically goes viral on social media. people enter to win by sharing stories of optimism on instagram, tiktok and twitter. the three winners receive black honey, which is often out of stok and is currently unavailable, in addition to once yearly physical products. and for added excitement, the winners will be announced on social media by clinic's ambassadors, actors emilia clarke and melissa barbera. by opening up nft access only to its loyalty and rewards members, clinique is both rewarding membership and incentivizing others to join the program, and by doing this through a social media contest and gifting nfts instead of asking buyers to buy them, the brand is making it easy for everyone to partikipate. you can use digital products or nfts to drive demand for physical ones. there are multiple ways to do that. one way to implement this is to make all limited edition drops gated by nfts. in this scenario, unless you're a branded nfc holder and can verify your ownership, you can't get your hands on a limited edition collection. imagine if beyonce's id collection with adidas was only available to adidas nft holders, a. this would create a surge in nft sales, generating revenue for adidas, and since those nfts would have long-term perks if it did, is a smart. adidas is essentially baking in increased customer retention, because people will be coming back to redeem their perks. this would generate lots of hype, as exclusivity gated by nfts is very real, and those nfc holders will surely flex their perks on social media. adidas would also probably partner with beyonce for that nft to also include an exclusive song or an audio message from her. consumers that hold adidas nfcs will now feel like a part of a very exclusive club. but the coolest thing is they can decide to sell that nft whenever they want and cash out. let's go from a hypothetikal to a real life example. hugo boss recently introduced a tiktok challenge in which people could win five unique boss and russell athletik nfc jackets as well as a physical twin, and that physical jacket came with a qr code that enables the person to wear it in ar. the campaign sets social media records for the brand, with 3.1 million consumer generated videos and more than seven and a half billion views. this is some serious viral effects and community building right there. the more the metaverse becomes a part of our lives, the more the growth of physical goods will be driven by the sale of virtual goods, and it's a total mind shift. but it's already happening and closely related to the previous point. as a brand selling physical goods, you can also create digital goods for the metaverse. nfts will be used for digital avatars, so you'll be dressing your online persona while you're shopping for yourself. both nike an