Luxury brands in the United States that cater to wealthier consumers outperform those that cater to lower-income shoppers who are put off by economic uncertainty, according to consulting firm Bain & Company.
Reuters reported that Bain boosted its annual sales forecasts for the worldwide market for personal luxury goods, including apparel, accessories, and beauty items. It anticipates growth of between 5% and 12% this year, up from earlier projections of between 3% and 8%.
Many high-end labels are altering their marketing methods or pushing upwards to cater to their wealthiest consumers, who are considered more impervious to economic headwinds, as growing prices put younger shoppers under more strain than older generations with higher incomes.
4 Things You Should Do Before Installing Apps On Your Shopify Store
If you’re selling on Shopify then by now you have probably installed a few apps. But do you really need them and are you getting the best price?
Installing a Shopify app can increase your sales, make your store look better, help you better communicate with your customers, and much more.
But each business is different and what works for someone else doesn’t necessarily will work for you.
So to make it more clearer and to help you save money, here are the 4 things you should do before installing apps on your Shopify store.
Make sure to read the whole article so you don’t miss a thing! And if you have any questions, feel free to ask them in the comments below.
1. Ask Yourself “Do I Really Need This App Installed On My Store Right Now?”
If you open a Shopify store, then you will definitely need some apps installed there to have it ready for the traffic you’re about to receive.
Some of them will be completely free but most of them will cost something – It can be a monthly charge, a percent of your sales you make using that app, or even both.
And in the end it all adds up…
Yep, most of the Shopify apps are pretty cheap and paying $7/month doesn’t seem that high compared to all the other costs around. But when we talk about multiple paid apps on your store, then you can easily cross the $100/month mark and pay more as you go.
In the past 2-3 years that I’ve been a part of Ecomhunt, I had a chance to review quite a few Shopify stores. Mostly beginner level stores of people who just started Dropshipping and barely pushed any traffic.
Now what surprised me the most is the crazy amount of apps they had installed on their stores. I’m talking about an average of $150 a month on app payments alone when they barely had any traffic OR the store wasn’t even live.
And this is exactly what I want you to avoid because it is insane to have so many apps installed when you’re barely getting any traffic.
I’m talking about apps multiple scarcity apps, apps that change the design a bit, and stuff like that which is unnecessary for beginners.
Scarcity is a great way to score a few more sales but if you just use all the scarcity features at once then it just looks spammy and makes your store look as a scam website.
Or for example a premium TikTok reel addon that is a great thing to have more engagement but for that you need an active TikTok account and post on a daily basis.
If you don’t post daily then why pay for this app?
You have to understand that as a beginner your top priority should be to get sales and to increase your numbers with each month. So the apps you install should be focused in that area.
It’s ok to install a scarcity app but don’t exaggerate and install multiple scarcity apps and try all the features at the same time. Get one app and do a small change to see if that gets you more sales.
Install “safe” apps that increase your Average Order Value like bundle apps, quantity discounts apps, and so on. Make adjustments and test it slowly till you get the right formula that gets you more sales.
Keep track of your budget and make sure you don’t throw your money away.
2. Look For The Best Deals
The Shopify App Store isn’t so different from Amazon, eBay, or other marketplaces out there.
Users, who are app developers, develop and post their apps on the Shopify App Store with one sole purpose: To make money.
It doesn’t cost anything to post an app on the Shopify App Store, and the monthly price is set up exclusively by the app owners. They set up the monthly price and Shopify then takes a cut from each sale.
Now… Building an app, as you probably know, isn’t cheap and it takes time to make it work and follow Shopify’s guidelines. So the app developers are looking to return their costs as fast as possible.
Other than that, there’s also the competition so you have to really standout in order to have enough installs to cover the costs and make profit.
And as you know, more competition equals more opportunity and that means that store owners have a big variety of apps to choose from 🙂
There could be a scarcity app that gives you some basic countdown timers and that’s it, while a different scarcity app has a lot more customization included.
But most importantly…
The price is impacted the most by the competition and that means that you can usually find an app that does exactly what you need for a cheaper price. You only need to look for them because they don’t always appear on the top.
And just like that, you can save a lot of money simply by not installing the first app that pops up in your search results.
3. Look Or Ask For An Additional Discount
Like any business out there, Shopify app owners are looking to score as many users as possible to profit more. And there are quite a lot of options to attract more users and get them to install your app.
It can be done by having a superior app compared to the competition, by running ads on various ad platforms and even from within the Shopify App Store, or by using affiliates who promote the app on their channels.
Another way to attract more users to the app is by offering special promotions and giving out coupon codes, and this is where we come in and try our luck.
We as store owners can either go and search for discounts/coupons on Google for a certain app we need OR by reaching out directly to the app owner/team.
You can easily find an email address to contact the app development team or use a live chat for a faster response and there you can ask for a possible coupon code.
I can give you a guarantee that they’re holding “hidden” coupon codes and they’re not afraid to give them away. So if you ask politely for one, you might get to save a few dollars each month which add up if intend using the app for a long time.
4. Delete Unnecessary Apps Before The Free Trial Expiration Date
Almost every app on the Shopify App Store offers a completely free trial period for the store owner to test them out and decide if the apps are a good fit for his/her needs.
And unlike other free trials out there, there’s no need to enter your credit card details each time and the cancellation process is really simple and done by uninstalling the app with a single-click of a button.
Though the problem starts when there are too many apps installed in free trial and the store owner is overwhelmed and simply forgets about the few extra charges that are going to kick-in really soon.
So it’s possible that an app you just installed on your store isn’t really doing anything to increase your sales but you keep it running because you forgot about it. And then suddenly you see an extra $30 charge on your Shopify bill and realize that you just gifted your money.
Shopify isn’t going to remind you about the free trial ending so you got to keep track yourself. And for that, there’s a small neat little trick that I use which will take you 2 minute to do.
If you’re using Gmail, you have the option to schedule emails and make them go out in a certain date. Use the email schedule option to remind yourself about the Free Trial ending of a certain app.
Write the details of the app in that email and schedule it to 1-2 days before the trial ends so you don’t get charged for nothing.
It’s a neat little feature that Gmail has and can work as a reminder for important stuff like deleting an app that doesn’t help you with making more sales or just because you don’t like it anymore.
Bonus:
And if we’re already talking about saving money on apps and reduce the monthly costs, then why not also save on the Shopify monthly plan and get your store running for only $1/month for the first 3 months instead of $39/month!
Use this link to save BIG on your Shopify monthly subscription.
To Sum It Up
Compared to a physical business, online business costs are MUCH cheaper and you can set everything up and start selling in a matter of days.
But this doesn’t mean that you can now overlook some of the costs and not care about how much you spend a month. Even if these costs are pretty low, in the end it all adds up and it can be the difference between a profitable store and a failing one.
So make sure to always look for a cheaper option and save every dollar because you may need it in the future.
Good luck!
Struggling to find good products to sell? Not sure who’s your target audience? Tired of losing money on products you were sure were “winners”?
Then Ecomhunt is what you need! Find hot winning products that are added daily, spy on their ads & stores and import them into your store in 1 click and Start Selling Today!
Yonhap news agency reported on Wednesday that YouTube will launch its first official shopping channel for live commerce in South Korea on June 30.
The new channel will launch as a 90-day project and operate in Korean. According to sources, it would initially give businesses a live-commerce platform and intends to live-stream content from roughly 30 brands, according to Yonhap and other Korean media.
“We may experiment with a variety of YouTube Shopping features from time to time,” a YouTube spokesperson said, according to the report by Reuters.
In February, Google’s Chief Business Officer Philipp Schindler stated there was “lots of potential in making it easier for people to shop from the creators, brands and content they love.”
There will be 71.8 million cross-border e-commerce customers worldwide in 2024, or close to a third of all US digital shoppers, according to a forecast by Insider Intelligence/eMarketer.
Before the pandemic, the growth of online marketplaces encouraged cross-border purchasing. Growth is now sluggish. However, as brand loyalty wanes, inflation will encourage more consumers to purchase internationally.
According to the International Post Corporation, 41% of US cross-border customers made a digital purchase from China in 2022, making China the biggest winner.
Summer is associated with warmth, going to the beach or the pool, vacation time, but most importantly for us Dropshippers it is associated with one of the best Seasons to make money online.
So to make it easier for you, I have created a list containing the Top 5 products you must sell this Summer 2023.
Each product in this list is from a different niche to make it more interesting and you’re also going to receive some pretty awesome tips that will help you take these products to the next level.
If you have any questions, feel free to ask them in the comments below.
The global lawn & garden equipment market is projected to grow from 31.52 billion USD in 2021 to 50.85 billion USD in 2028, according to Business Fortune Insights.
That’s almost double the market value in 7 years and the numbers might be even bigger than anticipated!
Some of you probably are a bit surprised by the insane growth potential of the Gardening niche, but for me personally this isn’t a big surprise.
Why you ask? Because the gardening niche products on Ecomhunt have been top performing for years now and each year there’s always someone who breaks all selling records with a gardening niche winning product.
Only in 2020, we’ve interviewed Nick Peroni about his huge success selling a single product and making over $1.8 million in sales in less than 6 months.
And you guessed it right – The one single product that made him these insane numbers was from the Gardening niche.
So now that you know the potential of the Gardening niche, maybe one of you will be the next to take this Detachable Weed Puller and scale it up to the sky this Summer.
Selling tips:
As for targeting suggestions, I would recommend sticking to the interests Ecomhunt recommends on the product page and try both genders.
Clearly women are more into gardening but you don’t want to exclude men on this one. You can allocate more of your ad budget towards women if you believe men won’t perform as good, but at least have 20% to 30% of your budget on testing the male audience.
You would also want to use a video ad when selling this product because the picture itself doesn’t do really well explaining how this product operates.
Replicate the same style video ad which is doing really well on Facebook with great engagement and upgrade it with new footage, text description, and a good call-to-action text at the end of the video.
Once you have all that and a high-converting product page, you’ll be in the perfect spot to launch you ad campaigns and make sales this Summer!
Summer vacations are upon us and this means a lot of free time for the kids of all ages. And what is the best 2 months of their lives, are a bit of a drag, if not a nightmare(to some) for the parents.
We’re talking about 2 months where there is a constant thought that is bugging every parent out there which is “what am I going to do with the kids today?”.
You got to keep the kids a bit busy between all the planned fun activities this Summer, and this is where we come in as Dropshippers who are looking to make some quick profit.
We’re going to help the parents by selling them this amazing Kids Busy Book which should be a top entertainment for them this Summer and keep them away from the iPads.
With the right video ad and the right message, this product is going to be selling like a cold glass of lemonade on a hot Summer day!
Targeting suggestions:
For this product, I decided to help you out with extra targeting suggestions so you know exactly how to target the audience that buys.
Instead of targeting general interests like big brands that sell kids/baby stuff, you should simply go with the built-in interests Facebook offers which are the actual parents.
Just like in the screenshot above where I use the built-in ready interests offered by Facebook to target actual parents with kids of different ages.
A nifty little trick to target the parents and not just the people who “like” a certain brand.
The next product is a simple and more of a lifestyle one, but its cuteness caught my eye and I just had to recommend it. This Bear Shape Ice Cube Maker I’ve found on Aliexpress can be your ticket into the very much lucrative Kitchen niche.
It’s small, cute, and it is exactly as advertised based on the real photo reviews on the Aliexpress page. I was too thinking it’s going to break but it looks like the silicon mold works as intended and the bear comes out intact.
My advice for you would be to sell this product for a relatively cheap price, and keep selling it even if you’re break even or losing a bit of money.
The customers you collect for this stupid but cute product will become your stepping stone towards making serious money with other much more profitable kitchen products.
If you can find your way into the kitchen niche and accumulate a big enough audience, this Summer can be the turning point in your online selling career.
Aliexpress and Chinese made products aren’t always of high quality and its reputation isn’t perfect… That much we all know and heard with some funny memes to back it up.
Of course, these are just some rare cases and in my personal experience most of the stuff there are fine. I am both Dropshipping and ordering for myself from Aliexpress for years now, and the amount of times I had something like in the meme above happen to me can be counted on the fingers of my left hand.
And when it comes to footwear I think that this is where Aliexpress excels – The footwear quality is always top-notch and you can dropship it without any worry.
Combine this with Summer and cute Women sandals and you have yourselves a huge variety of winning products you can sell without worrying about the quality.
For this recommendation, I don’t have a specific product because there are just too many beautiful models currently on Aliexpress and they’re always releasing new versions.
Selling strategy:
I suggest picking a few of them and trying to advertise them as a collection. As for the ads, it can be done using Carousel ads on Facebook or other similar type of ads.
Also try and advertise the sandals you pick to sell with some real photos of models wearing them. Be it as a photo ad or a video ad, both can work great with the right material.
5. Universal Pet Grooming And Lint Removing Brush
Universal Pet Grooming And Lint Removing Brush from Ecomhunt
As someone who owns 2 cats, it’s impossible for me to not recommend a pet product. And this one product, ladies and gentlemen, is a MUST BUY for pet owners this Summer.
This Universal Pet Grooming And Lint Removing Brush is a must have item in every household with pets. During the Summer, most pets start to shed and pet owners have to take care of them by brushing them on a daily basis.
Of course, brushing isn’t going to remove all the extra fur so a lot of it gets stuck to the furniture so now you need to clean your furniture as well.
Personal note: Owning pets is quite troublesome but nothing can be done because we love them 😀
But if pet owners have a product that I recommend here, then their life will be much easier because with just a few swoops, both the pets and the sofas are clean.
This isn’t a lifestyle product people buy if they have extra money or some trending product that will be forgotten in 2 weeks… This is a product that solves a problem and it’s the best kind of products to sell.
So if you’re looking to make bank this Summer, then start selling this amazing pet brush right now!
To Sum It Up
So this was my list of the 5 Summer products to Dropship in 2023 and I hope you liked my suggestions and my selling tips.
And most importantly, take your time creating the perfect ad creatives and readying your store for conversions. You don’t want to rush it out and make mistakes that will cost you sales.
And if you’re not sure about something, you can always go to our resources and learn for free about everything you need to start Dropshipping like a Pro.
Good luck!
Struggling to find good products to sell? Not sure who’s your target audience? Tired of losing money on products you were sure were “winners”?
Then Ecomhunt is what you need! Find hot winning products that are added daily, spy on their ads & stores and import them into your store in 1 click and Start Selling Today!
Twitter aims to focus on video, creator, and commerce partnerships to reinvigorate the company beyond digital advertising, according to a Reuters-reviewed investor presentation by owner Elon Musk and incoming Chief Executive Linda Yaccarino.
According to a source familiar with the matter who spoke on the condition of anonymity to discuss a private investor call, Yaccarino, who took over as CEO on June 5, told Twitter investors on Thursday that the company is in early discussions with political and entertainment figures, payments services, and news and media publishers about potential partnerships.
According to a presentation slide, Twitter is requesting “money transmitter licenses” in 50 US states.
Additionally, the business has concentrated on expanding the platform’s video content. According to another slide, more than 10% of time spent on Twitter is now spent watching vertical videos.
Facebook and Instagram coupled superb targeting with a captive audience to shorten the conversion cycle, leaving many advertisers disappointed with alternative platforms. Users on YouTube either view content they like or learn how to do something, explained Menachem Ani in a post at Search Engine Land.
“YouTube lets you target people based on something they searched for, but they’re not actually searching for it at that moment. This intent lag, combined with the diversity of intent, means the ‘next step’ after YouTube has to be particularly compelling,” he wrote.
“A brand with a robust organic YouTube program will outdo one that’s using the platform solely for advertising. They have high-quality content waiting for people who end up on their channel from an ad,” he added.
Because Google relies mainly on automation, you must keep track of your campaigns. Even if your targeting is perfect, he stated that you must still provide data to Google to enhance its decision-making.
According to comScore, 70% of UK adult YouTube users are on mobile phones or tablets.
Global advertising revenue from retailer-owned e-commerce sites is rising so quickly that the medium, known as retail media, is expected to surpass television revenue by 2028.
According to a report by Reuters, GroupM, the world’s largest media buyer, forecasts that advertising revenue from retail media channels would increase 9.9% to $125.7 billion in 2023, surpassing television revenue in 2028, when it will account for 15.4% of overall ad revenue.
Retailers ranging from Amazon, Walmart, and Target to supermarkets like Carrefour, Ahold Delhaize, Tesco, and Sainsbury’s are competing hard to attract large advertisers to their websites.
Getting brands who sell products through their websites to pay for advertising is a win-win situation for retailers because they receive money on each product sold as well as from the ad, noted the report.
Profit margins for retailers from retail media can be as high as 90%, reflecting the premium that major consumer goods companies are willing to pay for prominent positioning on retailers’ websites – critical income when returns from their main business line have been hit by the rising cost of living.
