So much has been happening with the current COVID-19 situation that it can be challenging to think about what’s next. Still, even with what we have to face now, it is necessary to look at the future because the reality is that people are going to be affected the most once we get out of the quarantine. In the middle of this is the shift in the market. Brendan Meyers guides us in confronting what is ahead by talking about the changes that are starting to surface and will impact us soon. Take to heart what Brendan is going to share because, at the end of the day, the businesses that shift with the market are the same ones that will stay.
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The Market Is SHIFTING!
You’ll want to know everything I’m going to talk about because it’s about the market, what’s shifting, pricing and all that fun stuff that a lot of us don’t want to confront. Here’s the new reality. We have COVID-19. We have this pandemic and a lot of people are out of work. We have higher unemployment rates that I don’t even know since when. It’s bad. When everyone looks at what’s going on, there’s so much focus on our freedom and how many people are sick. I have to wear a mask. I have to do this and do that.
In reality, where people are going to be affected most is once we get out of this pandemic and quarantine. A lot of things have been lifted. When it comes to actual ways of life like going to the grocery store, going to restaurants, having your job, buying something new, everything is going to shift a little bit if not a lot a bit. There are some things that I’ve gathered over the past couple of years that could be of use during this show.
Number one is the market has been shifting for a long time and people are wanting higher quality for a lower price. It’s not even just about one. They expect that a little bit more except for specific industries. These specific industries, you could look at the clothing industry, certain styles of clothing. When you look at these things, the way that we perceive them is higher quality. I’m going to spend the money because I know it’s going to be awesome good, but that’s not going to fly anymore. Other industries have gone down significantly.
If you’re trying to buy something online, any other type of good, you’re expecting a quick shipment and cheap shipping prices. That’s one example. Transferring one product to a warehouse or distribution or even your own house, that industry within itself has changed significantly. When we look at it, Amazon came onto the scene. They started to shift some things around like crazy. They started doing books and creating their own products. People coming on and using their services and distribution. They took over even more distribution and how quickly things are sent to the customers.The companies that survive are the ones that shift with the economy. Click To Tweet
They reduced the pricing of shipments. They started taking over more and more, now groceries. Pretty much everything that you need you can get from Amazon, but not everything. With this shift over the last number of years, the way things are distributed, goods, pricing and all that stuff has been looking for a fast track because it was going to happen regardless of whether COVID-19 hit us or not. It so happens that we are now in this situation where you better adjust or you will not survive.
Survive not about life in general. It could be correlated to life, but you won’t be able to survive as far as building your own business. Financially, working for other people is going to be at an all-time high because you’re going to see small businesses struggling outside of the quarantine. I know a lot of us too know that, but I’m talking about on the scale of the pricing of products, goods and services. At the end of the day, if you go and buy a $70 legging from a company, you think you’re going to be able to get away with that for the next few years. A couple of companies can, but the majority will not be able to, like they have.
As these industries adjust, people will first look at the pricing and think it needs to be lowered, especially small businesses. This is my opinion. With those lower prices, they’re going to try and get away with lower quality. Here’s the thing. There are many businesses out there that can provide higher quality and reduce the profit a little bit with the shift of the economy and the shift of the market. A lot of these small businesses because of ego are going to struggle and even go out of business because they don’t want to bring in the higher quality at a lower price. The ones that do after the fact, it may be a little bit too late.
I’m saying get ahead of the game now. I have a new membership coming out. It’s called Body Evolution. It’s going to be daily gym workouts, daily bodyweight workout, three ab workouts a week, a muscle performance section that’s going to go through rehab, prehab, all this stuff with a doctor and physical therapy. Also, custom meal plans daily for $3 a month. Think about that for a second. When could you have found that anywhere? It’s almost like Dollar Shave Club. It comes into the game. For $1, you’re getting this and that. There are upsells and you can get some extra things added in. When you look at Dollar Shave Club, who would have ever thought that you could get shipping from Amazon or any place within a day?
I’m getting ahead of the game. I want to bring a service. I want to bring a product. I want to bring something that can significantly help people like crazy, just like our nutritional products, $36 for our 35-serving pre-workout. We’re coming out with our greens very soon, 35 servings for $36. Right now, they’re $35 for 30 servings. We sell like crazy. What are we doing here? We are adjusting more and more with the market. In reality, we’re ahead of the market because this is what’s going on. The reason why I’m telling you to lower your prices and bring in higher quality is because it’s going to happen and things are happening.
Get focused on what you want to create and what you are developing and everything. Take advantage of this time for maybe that small business that you want to create. Whatever it is, lower your prices. Do you know what’s going to happen? This is one of my thoughts about the market and how everything’s shifting and stuff. I believe a lot of corporations are going to go out of business. Gold’s Gym filed for bankruptcy and reported 30 of their locations are shutting down. Isn’t that interesting? Everyone has heard of Gold’s Gym. 24-Hour Fitness and LA Fitness are there, but when are people going to feel like, “This is worth what I’m going here for?” When is that going to happen?
It may take another year. It may take a couple more years. It may take just a month out of quarantine and this pandemic, but Gold’s Gym shut down? Remember RadioShack was there. They couldn’t compete because their pricing was too high and they weren’t launching on eCommerce the way that they could have. They weren’t ahead of the curve. You look at all these companies and the ones that survive are the ones that shift with the economy, with technology, with the market, with the consumer. What are you going to be?
Influencers making a ton of money is also what I predict. This is an interesting one. Influencers are going to be making more money from these companies and brands at first. Once these brands and companies realize that their products are too high price and their sales have dropped, they’re then going to be like, “It’s just the influencers that aren’t getting us the money.” They’re going to put the influencers at a lower price point. “Influencers, this is what you’re worth to us. Instead of $1,000, it’s going to be $500.” Influencers are going to be like, “What the heck? I used to make this much.” The companies are going to realize that it’s not even just the influencers. It’s the fact that our prices are too high. It may be too late at that point.
For the businesses that are able to take advantage, they will realize quickly that we got to lower these prices. We have to. We’ve got to increase the quality. Kevin Hart, I saw an ad on Facebook. I do a lot of Facebook ads, $39 for two pairs of shorts. That’s already cheaper than the majority. You go to Ross or TJ Maxx or go to one of those quick and easy businesses and you’re going to see quickly that you can get those same prices there $10, $12, $13 for shorts. You’ll see those companies thrive and even lower their prices slightly. If not, keep the prices where they are because they’re already inexpensive enough and you can get some high-quality stuff at those places. If you don’t think you can, you might want to walk into Ross or TJ Maxx to find out for yourself. That’s my perspective on what’s going on.
I’m not talking about the stock right now. I’m not talking about anything else. I’m not talking about unemployment. I’m talking about strictly the market and what people are willing to spend. It’s interesting that people said that the dollar’s value is decreasing significantly because there’s so much money printed. At the same time, is the dollar going to become more valuable because of what’s going on with the economy and market shift? I don’t know. I’m bringing it up there for discussion and I would love to hear your debate.
Send me a DM on Instagram at @TheBMeyers or even send us a DM on @CreateU where we post a lot of our content. That’s my perspective on what’s going on and what’s happening. Lower your prices. The market is shifting. We better wake up. Follow us on Instagram and also at Create Nutrition. We have our mood stress product that’s coming out for a very limited quantity here. You can pick up your creatine, your pre-workout, your greens, your probiotics. We’re leveling up and we’re excited about it. Thanks for reading. I’ll see you next time.