There is one thing every big business and billionaire has in common. Lots of people on this app talk about inflation, interest rates, layoffs, alternative currencies, blah blah blah. Those are the wrong things to worry about. You can't control them. Here's what you should think about instead: Where are people spending their money? This is why I joined @triplewhale. Because outside of Shopify, we know the answer to that question better than anyone. Riding a big trend is the number one way every big business was built and billionaire was made. Here's a couple trends you should know about: ---1. "P Word" Babies--- In 2020 everyone was stuck inside. At home. Bored. Let's just say . . . babies were made. From 2022 to 2023 the average revenue of a baby brand on Shopify increased by nearly 66%. How to ride this trend: There is basically a little mini-baby-boomer generation in this year. What else are they going to need as the grow up? You may have missed the baby trend, but I expect growth in toys, books, sporting goods, etc. as the World's "P word" babies age. ---2. The Red (Bull) and Logan Paul Effect--- A long time ago Coke carbonated water, through some sugar and other ingredients in it. Then nothing happened for, like, 100 years. Basically no product innovation. then Red Bull came and invented a new category (in 1987). Most of the big companies in beverage are less than 20 years old (Red Bull, Monster, Rockstar, etc) Then Logan Paul and KSI released a beverage. And people bought it. . . not just at the convenience store, but on the interwebs. That happened in 2022. From 2022 to 2023 Food and Beverage brands saw a 45% increase in sales. Ride this trend: The last Direct-to-consumer wave allowed people to bootstrap $100 Million companies. If the direct-to-consumer wave is simply late for the beverage category, it could be another opportunity. ---3. Beware of Single Products--- Those were two winning trends, now let me share one loser. The two kinds of brands that had the least year-over-year growth in sales: Sporting goods, and electronics. Why? Typically DTC brands that focus on electronics or sporting goods make it big on one "flagship" item. - A backyard game - An iPhone bettery extender - etc. There's nothing wrong with this, but it basically means that they have to spend more on advertising to increase revenue. Those types of brands have seen the least year-over-year growth. This makes sense. Their customers rarely buy a second time. That doesn't mean your screwed if you have a sporting goods or electronics brand. But I'd suggest having a plan to get into retail. --- I pulled these trends from just ONE PAGE of the Triple Whale 2023 Ecommerce Benchmarks report. Grab the report for free in the replies
