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Meet the Startups from Togg's Ecosystem
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00:00Sous-titrage MFP.
00:30Sous-titrage MFP.
01:00And yes, the discovery stage is a place of discovery.
01:05It is a place of entertainment.
01:08But most importantly, it is a place of learning.
01:12Because here, we get to see showcases on important tech solutions
01:19that help to drive humanity towards being more efficient,
01:23being cleaner, lighter, stronger, you name it.
01:28So we have many, many different technologies for you,
01:30whether they be robotics, AI, smart city solutions,
01:36faster planes, cheaper cars, you name it.
01:40Now, I just want to add, our sponsor is TOG.
01:46So TOG have a park over here called the Mobility and Smart City Solutions Park.
01:51So you can find all of our tech being showcased over here.
01:57Go along, give it a try.
01:59I would also like to say hello to our friends joining us online via JouVideo.com.
02:06They are brought to us by our partner, Webidia.
02:11Those of you looking for information,
02:13please don't hesitate to go to Grand Central
02:15to find out where you want to go, who you want to see.
02:20And a little note before lunchtime,
02:23if you want to beat the queues, go to the food court,
02:26scan the Sunday, download the Sunday app,
02:30scan the QR code and beat the queues.
02:35All right, let's get this show on the road.
02:37So we're going to start off with two electric car solutions
02:41brought to us by TOG from their ecosystem.
02:46The first startup is called Vinux.
02:50And here to tell you more,
02:52I would like to welcome to the stage, Kurshott.
02:57Welcome, Michael.
02:59Thank you.
03:02I bet you guys can't hear me, right?
03:05That's good.
03:07Hi, guys.
03:08This is Kurshott.
03:09I'm joining you from Istanbul, Turkey.
03:11I'm the co-founder of Vinux.
03:13And we are solving a very unique problem for the retailers.
03:17And we see the problem is like this.
03:19You know, still more than 80% of the retail sales are still happens offline.
03:25So it is more important than ever to connect offline and offline,
03:30online and offline sales.
03:32So the brands are having a simple problem.
03:37It's like when a shopper searches an online product,
03:41he cannot see if that product is available in a nearby store
03:44and brands cannot measure the offline impact of their online ads.
03:49So if I'm searching for a sneaker as a consumer,
03:53I can see the online results like Amazon, Etsy, or whatever the e-commerce company,
03:59but I'm not able to see if that product is available in a nearby store.
04:04That's an engagement and a measurement problem.
04:08And we know that more than 68% of the shoppers would like to confirm
04:15if the product is available before visiting the store.
04:18As a human being, I can understand we can all relate to this.
04:23Before going to the store, I want to know if the product is available.
04:27And we believe if we can bring those physical spaces, physical retail sales points,
04:34to the online search engine, maps engines, and the discover engines,
04:39that's something very unique.
04:40It's more than 80% of the business.
04:42So Venuex collects the business listings data of those brands,
04:48their locations, their inventories and the products,
04:52and the offline sales,
04:53and brings this data into Google, TikTok, TOG, Meta, and Apple,
04:59so that the brands can understand how their online presence
05:05is impacting their physical sales,
05:07and they can engage with the online consumers.
05:11Why we are doing this?
05:13Everybody is speaking about online commerce, right?
05:16E-commerce is skyrocketing.
05:20But as I said, more than 80% of the business still happens offline.
05:25And when we check the numbers, we see that per visit,
05:30the stores are creating 10 extra revenue.
05:33So it's like if 100 people visits a Nike store,
05:37I mean the physical store,
05:38they spend $100, but same 100 people, if they visit Nike.com,
05:44they only spend one-tenth of it, so it's more important.
05:49And people visiting those stores,
05:52you can run local campaigns to drive food traffic to your physical stores,
05:57and those campaign models in TikTok, Google, Meta, and Snap are performing better.
06:03They perform eight times the online-only ads.
06:08So as a user, when you search a specific item on Google,
06:15now you can see if that product is available in a nearby store,
06:19get direction, visit the store, and buy the item.
06:22And that's it. That's easy.
06:26That's me, by the way.
06:29So when we come to the numbers from the market,
06:33we know that the online sales generated about $4.5 trillion globally.
06:40And that happened with $75 billion ad spend.
06:47On the physical side, in the in-store side,
06:50the in-store revenue is about $20 trillion,
06:54and now it's time to activate the digital ads for those physical spaces.
07:00We just closed the fundraising.
07:02It's about $750 US dollar.
07:06We did this with the local investors from Turkey and in the region.
07:10And now we are, we started our next round.
07:14We are going to start our next round in a couple of months.
07:20So Venex is helping brands to understand how their customers are engaging with them.
07:27They can collect the data.
07:30They can bring their physical stores into online space,
07:33understand it, engage with the online shoppers.
07:36Just to give you an idea,
07:38I was in Las Vegas a couple of months ago,
07:41and I had a meeting with TikTok people.
07:44And I asked them, if I'm a brand,
07:46and I'm spending, let's say, $100,000 to the TikTok ads,
07:51can you show me the impact of your ads to my physical stores?
07:55Actually, nobody does it at the moment.
07:58But it's doable.
07:59If you are a marketer in a retail business,
08:02the money you spend on the ads actually has an impact in your physical spaces,
08:08and you have to show that.
08:09If you show that, you will see that.
08:11You will see you can engage with more shoppers,
08:15bring them in store.
08:16The omnichannel shoppers are spending more than ever.
08:21My presentation was about eight minutes.
08:26It was like an elevator pitch.
08:29Wow, okay.
08:30Well, efficient.
08:32We've got some time for some questions.
08:34Yeah, I've got time for questions.
08:36I will be happy to answer if you guys have any questions.
08:38I can start off with a couple,
08:40and then we'll give them a chance to think of something, alright?
08:42So listen, tell me a little about your ecosystem.
08:45So you guys are based in Istanbul, right?
08:48Yeah, we're based in Istanbul, but I'm all over the place.
08:50Okay.
08:51How is Istanbul now for companies like you?
08:55I mean, are things happening there?
08:58As you know, globally, the investment landscape is not spending a lot of money at the moment,
09:03but we were lucky to do that with our investors.
09:07But in the last five years,
09:09Turkish ecosystem generated a couple of, so to say, unicorns,
09:15like Hepsi Burada, Getir, Trendyol,
09:19has been acquired by the Alibaba, as you know, right?
09:22Okay.
09:22So there are a lot of investments into the Turkish ecosystem,
09:26from United States, Amsterdam, London, and from Asia Pacific as well.
09:34So it's a really good time for startups to start an idea here in Turkey.
09:40Why?
09:41Because as the economy goes down, you know, it's struggling.
09:46Now you can find a space for yourself.
09:48It's like nobody is brave enough to start a business,
09:54but it's now time to start it.
09:56Because the tough times creates tough people and tough companies.
10:01Exactly.
10:02And also, if cash is an issue, then people learn how to be entrepreneurs, right?
10:07They learn how to work with less.
10:08And it develops really, really important skills.
10:12So, you know, I usually find that if there's too much money in an ecosystem,
10:16then people get lazy.
10:17Yeah.
10:17You know what I mean?
10:18Yeah.
10:18You guys are lean.
10:19You're mean.
10:20You're hungry.
10:21Yeah.
10:21And that's what it's about, right?
10:23So, good.
10:23Nice.
10:24So, there is now less money.
10:25So, you have to be cash.
10:29You know, the cash balance is the most important thing at the moment.
10:32Yeah.
10:32Somehow, you have to generate some money.
10:35We do.
10:35Yeah.
10:36Thankfully.
10:37But still, we are a startup.
10:39We need money.
10:40We need the investments.
10:41But we are lucky that we have investors that can do follow-off investments.
10:48So, do you guys have any major competition?
10:51Actually, of course we do.
10:53You know, if there is a competition, that means that you are doing something really good.
10:57Okay, good.
10:57Repeat that.
10:58So, if you have competition, that means you are doing something good, right?
11:00Yeah.
11:00If there are no competitors out there, that means your idea is bad, right?
11:03You can't be Leonardo da Vinci.
11:06You can't be the smartest guy in the world.
11:09As you can see here, everybody is doing something.
11:12Yeah.
11:13And if they are doing something, that means, okay, I am doing something good.
11:18For example, I was in Vegas two months ago to attend the Shop Talk.
11:22You know, it is a retail and digital marketing focused exhibition.
11:30And I saw a lot of competition, but my differentiation is like this.
11:35You know, they do something that I don't do or they do something I do better, right?
11:42Okay.
11:43Competition is good.
11:45Competition is good.
11:46Any questions from the audience about what you just saw?
11:50One more?
11:52No?
11:53We got still time.
11:55Three minutes we have.
11:58Yeah, we have a question here.
11:59Fantastic.
12:00Thank you.
12:02Hello.
12:03Really speaking to the mic.
12:04Yeah, yeah.
12:04Hello, Kursat.
12:05First of all.
12:06Thank you.
12:06How would you leverage your idea with increasing the digital marketing and also the online stores?
12:13Can you please a little bit elaborate with the online stores versus the offline or the in-store?
12:21And how do you leverage the companies going through the offline sales or in-store sales point?
12:28And they stand there, but you do leverage them.
12:31How can you elaborate a little bit?
12:33It's a great question.
12:35And there's no versus like online and offline.
12:38There's no versus.
12:39If you are Boinar or Zara, your online money goes into the same pocket.
12:44The P&Ls are the same P&Ls.
12:47Whether it is coming from the online or offline sales, it is going to the same pocket.
12:52But the teams in the retail management, the e-commerce team and the physical store teams are competing.
13:02That is ridiculous.
13:03So I was reading an article from McKinsey.
13:06It was saying that in order to be more efficient and on the channel friendly, what do you have to
13:13do?
13:13You have to align the KPIs in the top management.
13:17So the e-commerce teams should know that some of efforts of them are impacting their physical stores and the
13:25physical stores.
13:26People should know that some of the efforts of them are also bringing some money into the e-commerce.
13:33So it is not a competition.
13:34It was a competition before the pandemic.
13:37So the teams were competing, but now they are now aligning their KPIs.
13:43And I present myself like an omnichannel evangelist, right?
13:48When I go to people, like retail people, the first question I ask is the same question you do, right?
13:57How does your e-commerce people, physical store people are competing?
14:01Are they competing?
14:03Luckily, after the pandemic, they started to be more friendly to each other, right?
14:09So if I understand correctly, you're operating almost like a consultant, right?
14:13You're coming in and you're advising people basically how they can optimize their retail through the online and in-store
14:18strategies.
14:20Yeah.
14:20If you have a great product, that doesn't work in one day.
14:25Right.
14:25So what you have to do, you have to first teach your audience.
14:30Yes.
14:31Let them know what they are missing.
14:34You should, first thing you have to do, you have to start with the why, right?
14:37Like Simon Sinek says.
14:38Simon Sinek, yep.
14:39I know the book very well.
14:40You should start with the why.
14:41Like here you are missing and you are bleeding and you are leaking.
14:47You have to fix this problem.
14:50Oh, approach them like a consultant and bring the solution, bring the product.
14:55Okay.
14:56So it's a dilemma for every single retailer out there now to bring it to the next level.
15:01And you guys can help them, yeah?
15:03Yeah, we do.
15:04Absolutely.
15:05And the big companies like Google, Tog, Apple, TikTok, Meta is also bringing their new solutions into market.
15:13Yeah.
15:13Because they know, imagine you are Google, right?
15:16You are the CEO of the Google and you are a $2 trillion company, there or there.
15:21You are a $2 trillion company, right?
15:24Yeah.
15:24And you became a $2 trillion company by only selling ads to the online e-commerce.
15:31What if you become, you be able to sell the ads to the physical stores, which is four times bigger
15:39than the online sales.
15:41Then you can bring the company from $2 trillion to the $5 trillion.
15:47We're going to stop.
15:48Thank you very much.
15:49Thank you very much.
15:49Ladies and gentlemen, the news.
15:53Thank you very much.
15:54Thank you, Kirshok.
15:55Thank you.
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