Shopify CEO Says Legacy Brands Are Suffering

The video discusses the performance of Black Friday and Cyber Monday sales, highlighting the success of direct-to-consumer brands and small businesses, particularly those using Shopify. It contrasts the growth of independent brands with the challenges faced by legacy retailers. The video also explores the advantages of selling on Shopify, such as global reach and direct consumer relationships, and addresses supply chain challenges. Finally, it considers the future of retail and Shopify's role in supporting both online and brick-and-mortar sales.

What was the total global sales figure for Black Friday alone?

• $2.9 billion

• $1.9 billion

• $4.9 billion

• $3.9 billion

Which type of brands were highlighted as winners during the Black Friday Cyber Monday weekend?

• Wholesale brands

• Big box retailers

• Direct-to-consumer brands

• Legacy brands

Why are traditional brands like Lego and Mattel moving to Shopify?

• To reduce costs

• To avoid online sales

• To sell direct to consumers

• To increase wholesale opportunities

What is one major advantage of selling on Shopify compared to marketplaces like Amazon?

• Faster shipping times

• Direct relationship with consumers

• Lower transaction fees

• More advertising options

How does Shopify enable brands to reach a global audience?

• Through exclusive international deals

• Through local partnerships

• By offering free shipping worldwide

• By default global settings

What impact have supply chain issues had on consumer shopping behavior?

• Increased in-store shopping

• Decreased online shopping

• Accelerated shopping earlier

• Delayed shopping until last minute

What is Shopify's strategy for future retail operations?

• Limit sales to North America

• Enable sales everywhere and anywhere

• Expand into physical retail spaces

• Focus solely on online sales