The first wave of fintech innovators mainly came after the banks. Those were dissatisfied with expensive products, secretive business, slow digitalization, and poor customer experience. As a result, we’ve seen them unbundling banks.
There’s a sort of tragic irony here. Facebook has launched so many ill-conceived products, it’s impossible to keep track of them — a mobile operating system, a phone, a Snapchat clone, another Snapchat clone, a mobile groups product, an email service, a cryptocurrency (tbd) — you get the idea.
Brands need to rethink how to serve the new consumers of this not so new generation; marketers should innovate in the ways to reach them; and investors must keep in mind the latest consumer trends driven by Gen Z’s new norms. Young people have a tremendous influence on all other generations and in the ways these older people consume.
There is going to be a generation of very successful apps built on Shopify that give storefronts new kinds of powers, and today we have four amazing tokengating apps live - PERC Engage, Manifold, Shopthru, and Lit Protocol - powering tokengated commerce for merchants now, with several more behind the scenes that we’ll get to see soon enough.