Consumer to manufacturer - destroyer of companies/brands. "That's really cutting out even the brands. So the factories start dealing directly with consumers". No one is talking about this. This is monumental.
@learningwisdom51613 жыл бұрын
I really like these videos that The Economist creates for KZfaq. It’s nice to see how these concepts can be packaged in a more digestible format.
@yanisulastri75382 жыл бұрын
Pqosis
@hydrangeadragon3 жыл бұрын
Idk I don't get a kick out of buying stuff, I feel kinda guilty and ashamed when I buy stuff, I always get buyers remorse
@user-qn6yt3zx3w3 жыл бұрын
Stay that way!!! You’re wired to win, don’t let that change, don’t become a consumer sheep.
@nothingnothing32113 жыл бұрын
i keep almost all my cash in my stock trading account or either in a account which is not linked to the internet.
@gr8macaw13 жыл бұрын
I hate buying stuff on line. I feel very guilty it does not matter the amount. I really hate buying things. I have a leather wallet over 40 years old and use it all the time. Obviously my brain is wired differently. I cannot understand how people get a thrill when they buy things.
@freix113 жыл бұрын
@@gr8macaw1 during the pandemic i didn't bought any new clothes cause i didn't need to. We are the so called "reducers".
@prilep53 жыл бұрын
Companies should politely ask for our input and throw some discounts. Instead of buying the data from companies who are spying on us. It is more honorable and probably cheaper
@dakesim2 жыл бұрын
They are doing that too, but data from companies is more in-depth and accurate
@miaomiao072 жыл бұрын
some companies have surveys or feedback forms
@prilep52 жыл бұрын
@@miaomiao07 I know but surveys are long and they don’t offer any rewards for your opinion Only ones I had free burger from mc Donald.
@dannyhughes48892 жыл бұрын
People will ask themselves in the near future 'why are there a lot fewer jobs in the Service Industry and almost no small businesses'? Is it too hard to understand that supporting Amazon and shopping Online drives more nails into the coffins of these local businesses?
@epsilonxvi56752 жыл бұрын
@Banny Hughes no one can replace service industry dude even a robot can't do that it takes a human control and free will to do it, compare to other jobs that use hands.
@wangyi83812 жыл бұрын
Based in China. Here we have great e-commerce however it also causes many retailer stores to shut down. I do enjoy the convenience of e-commerce but sometimes we got fooled by pics of beautiful models and the quality of clothes is a big issue. This was when I realized the importance of retailer stores where I could touch and feel the material and see if it fits me. However many of them did not survive after the pandemic. So it is a dilemma now.
@curioustudent2 жыл бұрын
what if, given the opportunity, independent businesses were given a collective platform to sell their products but with improved marketing and shipping opportunities to allow them to compete with global giants. Such a platform would boost survival rates of these smaller independent retailers by having an online presence as well as an in person store.
@Markymark14082 жыл бұрын
@@curioustudent advanced marketing, same day shipping are table stakes in 2022. websites that are just a storefront for a warehouse (product size/dimensions > product availability (yes) > same day shipping) are no longer enough to immerse shopper’s, so we need to get smarter.
@johnl.77543 жыл бұрын
In China shipping costs are a fraction of US costs while products cost are about the same for name brand is one reason it’s growing faster there.
@Obi_boy3 жыл бұрын
Half of Chinese live on 150usd a month
@FlowerAteCat3 жыл бұрын
same products (nike shoes, ipads, etc) cost more in china because of tariffs
@johnl.77543 жыл бұрын
@JMB Actually I’ve lived in China (mostly in Wuhan) for 10+ years and have actually gotten married there. Left in 12/2019 so not that long ago just before virus lockdown. True many stuff that is not of international brand is cheaper but those of international brands are usually more expensive then in USA.
@alicewoods13 жыл бұрын
@@Obi_boy where u getting the data from? Lol
@chaowang05243 жыл бұрын
@@Obi_boy True. 1. Around 600m Chinese people's disposable income per month is below RMB 1090 ($167). 2. China has the largest GDP output (if China decides to raise RMB against dollar) and it's developing incredibly fast in this pandemic. Sooner or later it will turn into something people cannot imagine which is way bigger than today's U.S.
@ruttolomeo19873 жыл бұрын
I'm so glad I'm too poor to get scammed by data scientists! They've studied so much for nothing, it feels so rewarding!
@abbiejoyguabna53203 жыл бұрын
Yeah, I'm too thrifty, I almost think like that of a billionaire but without actual money lol 😂✌️ That means I try to minimize spending..amap
@codefluence3 жыл бұрын
The less you need, the more free you are, even if you are a minimalist by necessity 😁
@walterwang20113 жыл бұрын
Knowing you can't afford anything is also valuable information. Lol
@ianrobson37133 жыл бұрын
But sadly you’re the bigger loser
@DrJohnnyJ3 жыл бұрын
@@abbiejoyguabna5320 Billionaires do not minimize spending. They buy several huge houses, ranches, yachts, etc. and employ large staffs. The frugal billionaire is a myth.
@danistanneveld8803 жыл бұрын
We are all dopamine junkies.
@gghh-sw4vf2 жыл бұрын
One action needed to keep my business alive is to open and sell online as well as at store!
@mariazunker60952 жыл бұрын
Its so easy to be negative. I don’t see any wrong with companies study high level preferences, nothing secret. Love the engagement and personalized options more relevant to me. Its awesome! Welcome 21century!
@luxushauseragency3 жыл бұрын
Online is great, but retailers must not underestimate how much shoppers prefer to engage with other people face to face.
@FrayAdjacentTX3 жыл бұрын
I'm looking forward to Amazon Yesterday Shipping!
@joyfulsoul17023 жыл бұрын
@Rafael Dejesus 😁
@kxmode3 жыл бұрын
This 14-minute video could be summed up in two words, "user data." User data has been the future of shopping since the mid-2000s. Tell me something I didn't know. For example, HOW will shoppers buy in the future? And I don't mean a hybrid online/offline retail experience.
@lillian17912 жыл бұрын
I think so. There isn't any novel and insightful viewpoint.
@pennythecockerspaniel57503 жыл бұрын
I shop almost everything online, my biggest concern is the impact of shipping on the planet. Have a mixed feeling of excitement and guilt every time I see a package outside my door.
@chrismckellar93503 жыл бұрын
Online shoppers are in for a rude awakening when the effects of a warming planet takes hold.
@armadillito3 жыл бұрын
How would you have got the goods otherwise? If not at all, yes, that's an impact, if you'd have driven to pick them up somewhere the courier was probably more efficient.
@fredgalaxy76323 жыл бұрын
Even if you shopped instore, that product on the shelf, came in a cardboard box when it arrived at the store from the manufacturer.
@BeaverChainsaw3 жыл бұрын
Technically online shopping(talking amaxon at least) is sometimes less impactful on the planet than driving to a store. However, only if you don't have quick shipping and just go with normal shipping. Getting priority packages uses airplanes and that's bad for the environment
@chrismckellar93503 жыл бұрын
@@BeaverChainsaw - Online purchase is indirectly more polluting and not environmentally friendly than hopping in a fossil fuel powered vehicle to purchase the product from a store. If you walked or use public transport to go to the store is more environmentally friendly than using a fossil fuel powered vehicle and also healthier to you,
@masterh97953 жыл бұрын
I have the opposite feeling actually, I'm reluctant to buy anything that isn't a great deal. I triple check to make sure the math cheeks out
@keepthefaith98053 жыл бұрын
3 things that always goes together in strong advance economics,,,,Production. Distribution. and Exchange. these are the Pillars of Great Economies
@nathanlevesque78123 жыл бұрын
Basically 'the future of commodification: humanity engineers itself out of existence in service of the pursuit of maximize consumption'.
@zinjanthropus3223 жыл бұрын
Just a robotic factory making stuff and a digital bank buying the stuff to send it back to be recycled to make more stuff. Forever.
@anastasiiazbandut16463 жыл бұрын
maybe we have to think about whether our (excessive) consumption really makes sense...
@keepthefaith98053 жыл бұрын
if the US gonna shop this way, they equalize distribution to production, meaning production base has to be on US soil.
@NevaFlautt5 ай бұрын
It breaks my heart thinking of all the people who have lost thousands, tens of thousands or more of euros, dollars, pounds, or even sold their houses or farm animals. Financial fraud is devastating. All thanks to Exelasupport we love you
@naterciagomes49623 жыл бұрын
Incredible video. I really loved the insights shared here. It gives me more and more certainty that is very important to take care of the digital data we receive from our customers. It can be the way of growth or silent death in this market.
@pevlez3 жыл бұрын
Transparency on what's our data being used for could go a long way...
@fredgalaxy76323 жыл бұрын
Don't worry bro, your data being accessible by hundreds of organisations won't prove to be any value. You're not exactly a popular entity on company databases. You're probably somewhere along the bottom of CorporateXEnzo's Excel spreadsheet! In fact, the clerk wasn't bothered completing your information of the data
@juanmiguelreyesguerr3 жыл бұрын
“With more choice came more power for the consumer”, this is the kind of cliche that people just dogmatically repeat without questioning whether it’s really true.
@chrisza97823 жыл бұрын
That lie sums up my experience with healthcare
@claudeyaz3 жыл бұрын
More choice isnt the best... but NO choice? Almost always worse. I feel for all the small businesses literally murdered by our politicians, mainstream media, big tech, and other elites. Forcing to only have one option. Like how they are able to easily ban a book completely by not letting it on amazon or ebay... since all the other book sellers have been castrated
@Nishith83 жыл бұрын
Decentralised e-commerce is the future of ecommerce
@sky-eo8tz3 жыл бұрын
What kind of experience is it if you can t touch a product before buying ,still no for online shopping .
@knowledge_seeker_3 жыл бұрын
Such a insightful video. Absolutely great work. Thanks for sharing!
@trainkinder-getinspiredtol64333 жыл бұрын
Great video. Thank you so much!
@DavidEVogel3 жыл бұрын
Over the past year, I had 205 orders at Amazon. I love that store. Point and click. Its like a video game. Is my score 205?
@Octovisuals3 жыл бұрын
Nice!
@PanteraRossa3 жыл бұрын
Yeah, they all care so much about us and the personal info they mine for profit. That's why every week I log into my password manager I have to change half of them cuz they've been leaked again by the company themselves.
@nothingnothing32113 жыл бұрын
keeping them safe is very very tough. if companies want, they can easily access our personal accounts or they can even guess our password using the data they have already collected. if all the companies started sharing the data then there will be no internet user left whose each and every data couldn't be easily accessed and that day is not far.
@evm61773 жыл бұрын
@@nothingnothing3211 Exactly, the dark side of data privacy & online payment is the part they don't want you to know, that they actually know everything! 🍷
@abbiejoyguabna53203 жыл бұрын
I love how allbirds is growing positively out of this, as oppose to nike's 'fast fashion'
@gopotyr37633 жыл бұрын
Just bought a pair of shoe from allbirds and it's so comfortable
@STARDRIVE3 жыл бұрын
With my luck, half the stuff I buy online needs to be returned. Wrong product, faulty, broken, way too late, incomplete. No joke. HALF. My future is shopping in actual stores, from local people that I´ve known for decades.
@violetgruner7542 жыл бұрын
Quality is a real problem. Buying on line is over rated. I want to see, touch the item before I lay down my money.
@SolPhantasmagoria3 жыл бұрын
So from what I've been watching recently, Pharmacy is a big industry that has been changing over the last two years with online access to prescriptions being the next big challenge. Amazon claiming the trademark Amazon Pharmacy is a very clear indication of this.
@liizzset3 жыл бұрын
Health and wellness is the next big thing for the future . Well in the future business arena. I mean it was always there. But it is becoming more prominent.
@straybirdpei3 жыл бұрын
High quality videos all the time!
@chaoticrealm7773 жыл бұрын
A dopamine hit when shopping? If you mean a rush of relief that I don't have to keep looking which product is better than the other, then yea. I get that alot.
@frankpatron8683 жыл бұрын
We come buy on time... Credit for what you can't afford..
@globalmuffin22 жыл бұрын
with online shopping there is a 100% increase in waste. half of the things i buy online end up in the trash can.
@henryclinton93173 жыл бұрын
I watch several youtube videos on how to trade in the stock market but haven't made any headstart because they are either talking some gibberish or sharing their story of how they made it and I do not want to make mistakes by taking risks in my own hands.
@lucythompson58413 жыл бұрын
Have you considered consulting an investment advisor or using a portfolio manager?
@henryclinton93173 жыл бұрын
hi, no I haven't do you know any or can you point me in the right direction?
@henryclinton93173 жыл бұрын
@Bridget Stone Thanks for sharing, but have you made any profit whatsoever?
@henryclinton93173 жыл бұрын
@Bridget Stone hey thanks for sharing, I just looked her up found her website and left a message, hope she replies soon. I really want to make some profit off this.
@Dessme10 ай бұрын
I can't wait to see Amazon using drones to drop the goods we bought. It makes delivery fast and satisfying for the customer.
@oeeekoeeek2437 Жыл бұрын
im glad i joined the trend of online sales in 2020, and its just going higher and higher each month
@rainism19862 жыл бұрын
It a superb watch. Future of customer journey and it's impact on the retail effort sand might provide you a hint on how it should be in terms of their DBM, marketing efforts and customization of their business approach. Superb. great learning tool.
@truongthanhhuan3 жыл бұрын
Every economist videos is sound-effected magnificent and insightful content.
@BeaverChainsaw3 жыл бұрын
I thought it was a really interesting look into how information is so valuable in the global economy
@ramv35533 жыл бұрын
@@BeaverChainsaw tttyyty to t
@theretailbusinessownerstribe2 жыл бұрын
great points here. It will interesting to see how the smaller to medium size retailers begin to adapt once everything is opening up!
@XOPOIIIO3 жыл бұрын
No, not at all. Actually buying things is boring to me.
@kentondragon92633 жыл бұрын
Actually buying/paying for things online makes me 😑
@lukaskret45553 жыл бұрын
I hate shopping and especially online 🤷♂️
@nobo16823 жыл бұрын
the price of conveniences is the right to think for yourself
@todayisokay40752 жыл бұрын
Thank you for this informative piece. Super interesting developments 😃
@George-yz3sb3 жыл бұрын
Apple/ Dyson/ Canada Goose and Tesla offer the best in store experiences
@lukecockburn11403 жыл бұрын
Fair enough but my uncles shop hasn't got "brand theatre & stylist level staff" seems to me this only works with big companies & corporations
@generalfacts62382 жыл бұрын
Great insights on the rise of e-commerce business.
@rajeshjain493 жыл бұрын
Thanks for sharing, quite informative and inspiring.
@freedomlife36233 жыл бұрын
Very funny that they said Chinese consumers are more willing to share their personal data? Really, willing? Like they have a choice. You have to register your account in any of their 3 plate form with your real identity. It’s so shame the economist don’t do some deep dive or willfully ignored it.
@khaimgulkovich33683 жыл бұрын
How about the future of the customization of products?
@jensenraylight80113 жыл бұрын
I think people don't mind giving their personal information as long as the data stay anonymous. treat all of your customer data like you treat the Password, just use common sense... don't give the advertiser the customer raw uncensored data like name, address, or credit card number.
@user-qn6yt3zx3w3 жыл бұрын
You may be missing the point here. Our data is being used to brainwash us. If I come into your home, look through your cupboards, drawers and shelves, I can learn a lot about what to target-sell you. If I can monitor your online habits, where you pause, where you look further, I can learn even more. Ultimately, if I can propose different things to you online and see your reaction, then I get close to knowing exactly what to target you with and when. You may think, well that’s great, I would love to be offered only those products that I really like/want/prefer/need. But where it gets really interesting/insidious is when they start to lead/shape/coerce us to buy things that we really don’t need, but we think we do. It is highly effective, to the point where most people don’t even realize it’s happening. Make no mistake, all they want is our money, and they’re become ever better at getting it.
@jensenraylight80113 жыл бұрын
@@user-qn6yt3zx3w well you can choose to live inside a cave, or you can be part of modern society still, the internet technology benefits still outweigh the downside just use common sense, don't share your sensitive information on your social media
@lynettelow3694 Жыл бұрын
Thank you for this wonderful video! Amazing insights into data-driven e-commerce. Would love it if the Economist sells paper versions (or PDFs that can be purchased) across the globe too!
@go55823 жыл бұрын
thank you "the economist" i see what digital currency will do to the physical dollar. thanks.
@teeI0ck3 жыл бұрын
showing an accurate and deep understanding; great perceptive. 💡 Muito obrigado for all the insightful information. 🤝
@vivianoosthuizen89903 жыл бұрын
No amount of stuff can replace the freedom humans died for in wars for us to have
@swldnsstory98432 жыл бұрын
I'm gonna be taking Economics at A-Level, i'm glad I find these videos interesting
@andrewjpalla2 жыл бұрын
Excellent video. Thank you!
@soraiya20653 жыл бұрын
Nothing like a pandemic to get everyone shopplng online ;)
@sirinjunpatum60003 жыл бұрын
True
@NaveenKumar-wy5nk3 жыл бұрын
Agree with you
@sg57203 жыл бұрын
Makes it easier for them to see what people are buying too. 🤷🏽♀️🤔
@soraiya20653 жыл бұрын
@@sg5720 And their spending habits, to see how to sell them more ;)
@globalmuffin22 жыл бұрын
depends. in some reverse psychology works. with the pandemic, i started to value time outdoors and the real life, the real things. i've also noticed that the things i try and see that they fit, i actually wear, as opposed to most things i used to buy online. with the pandemic my eyes were finally opened and realized i've been fooled online all along.
@lemuelneilabliter65373 жыл бұрын
Really helpful, thank you.
@Larry219248 ай бұрын
This piece is quite remarkable; akin to a book that set the standard in this area. "The Art of Meaningful Relationships in the 21st Century" by Leo Flint
@nitishcarlin19263 жыл бұрын
WE think about socialism and protecting the environment it ain't gonna happen, we are destroying nature to satisfy our hunger for consumerism. I like it and I'm all for it.
@SindhuS3 жыл бұрын
um why is nobody talking about the stock footage of person in that wide neck tee?
@tltinatl3 жыл бұрын
I know! That guy looked like a lunatic 😂 I can't tell if that was supposed to be a warning about what'll happen if you spend too much time shopping online or what.
@darinakalinova21803 жыл бұрын
Funny, I have taken the opportunity to downsize my consumption in 2020 and planning to keep it like that. Investing the money to studies as after companies will implement AI fully. We will have significantly less jobs.... so shopping leaves me stone cold.
@danielbalgobin31153 жыл бұрын
the more learn about the modern world, the more aware i become of my mistaken birth
@MsGenXodus3 жыл бұрын
Online shopping is to retail therapy what O'Doule's is to beer. It's definitely not a substitute.
@Tomas-ml9nv3 жыл бұрын
only the economist could frame a new way of exploitation as revolutionary.
@malenaharrison20802 жыл бұрын
Why to buy anything if we wont go anywhere.We should all stop feeding big companies
@Ebotoman793 жыл бұрын
So, this is home shopping network on social media?
@avicennam77083 жыл бұрын
A.I is going to have a field day.
@chrismckellar93503 жыл бұрын
So is the effects of a warming planet.
@avicennam77083 жыл бұрын
The more you know about people the more you can help the plant but you could say the opposite as well depending on how is using the data/company/government/military
@eatmyshorts8083 жыл бұрын
I don't get excited! I buy and wait and wait 3 to 7 days to get it.... what's so exciting?
@jolieart3 жыл бұрын
Does anyone have weird sound
@avi100003 жыл бұрын
Future shopping: Step 1: Entry allowed only if you have a chip in your head.
@frankpatron8683 жыл бұрын
Future shopping Is a return of the blue laws And barter
@Acumen9283 жыл бұрын
Not quite cutting edge information here.
@peterwilliams9423 жыл бұрын
Great video but some problems with the sound quality in the commentary.
@mariammmartinez59293 жыл бұрын
The Economists app isn't working correctly. I can't get the contact information to view. I paid for it and can't get it to work..whom do I contact..anyone out there know? Thank's.
@ec88683 жыл бұрын
My teacher asked us to relate this video to the content we learned in economics a level.. I have no idea how to do it !! Can anyone please help ?
@nitinsuvarna80433 жыл бұрын
Consumer behaviour changes
@tonysinclarenyc3 жыл бұрын
It's QVC online.
@andresisrael58172 жыл бұрын
A merchant shall hardly keep himself from doing wrong; and an huckster shall not be freed from sin. Many have sinned for a small matter; and he that seeketh for abundance will turn his eyes away. As a nail sticketh fast between the joinings of the stones; so doth sin stick close between buying and selling
@freebie8083 жыл бұрын
This is only a test of your Emergency preparedness
@yshanayleoincabo3 жыл бұрын
Very interesting, got me thinking a lot about Nike
@katehillier10272 жыл бұрын
I don’t want surveillance stores. Benefits are disproportionately for big tech NOT HUMAN CUSTOMERS.
@samuelmejia27703 жыл бұрын
Take notes america!!
@atarashii3 жыл бұрын
The future? More data being extracted from us, more ads, same wages and higher prices!
@nothingnothing32113 жыл бұрын
this is how slavery to AI starts.
@kevinwest32743 жыл бұрын
Retailors don't have data but my credit card company does!
@xjaireyes3 жыл бұрын
pls hire an audio guy
@vivianoosthuizen89903 жыл бұрын
Is this the reason you brought us tracking in the guise of Covid19
@MarkDanielLouwe3 жыл бұрын
same with what xiaomi is doing with its physical stores
@sambadiop47403 жыл бұрын
Hi ; nice vidéo ; explaining how technology change the world
@HoangPham-yy5rd2 жыл бұрын
Please tell me what is the book that admin mentioned in the video about ''personal customer data'' that amazon wrote mentioned at 7'05 to 7'15 minutes. Thank you very much
@Obi_boy3 жыл бұрын
"The Chinese are willing" well they don't really get a choice
@user-ln1gv1bc6q3 жыл бұрын
People like you believe that you have guaranteed privacy lol.
@Obi_boy3 жыл бұрын
@@user-ln1gv1bc6q more privacy than you. Rather have 50% privacy than 5%
@user-ln1gv1bc6q3 жыл бұрын
@@Obi_boy Wish you feel happy lol
@user-ln1gv1bc6q3 жыл бұрын
@Kshitij Raj I feel sympathetic on you lol because of your innocent characteristic
@grumpyrabbit19343 жыл бұрын
Anyone who use a cellphone doesn’t have privacy
@tamirpaz78373 жыл бұрын
What's going on with the sound on this video? Guys if you need some audio editing hit me up. Though as I'm sure you've got internal teams for this stuff - please don't skip their roles in the production
@tamirpaz78373 жыл бұрын
Seriously guys, great reporting but sort out the audio
@noorahchaudry18153 жыл бұрын
Insightful.
@alparslankorkmaz29643 жыл бұрын
Nice video.
@carloscamperos48393 жыл бұрын
great job!!
@pasangafavmsq87283 жыл бұрын
So basically future shopping gonna be noisy 😂😂😂😂
@PieterJanNotebaart3 жыл бұрын
More service = more jobs I suppose
@peppyiswandy75063 жыл бұрын
future shooping almost everything by online and China already started..
@seanuz2 жыл бұрын
Random question. Can anyone tell me the name of the song they're playing in the background please?