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1) Online vs. In-Person Sales
Before we dive into trends for online sales you might wonder if e-commerce is the best option for you. As per the Quarterly Retail E-Commerce Sales Report by the Department of Commerce, online sales steadily increased throughout 2022. The increase continued to grow regardless of the fact that online shopping restrictions were lifted. These trends are likely to continue through 2023 and beyond.
What does this mean for creators of content? If you're planning to launch your own business once the revenue begins to come in E-commerce is likely to provide a more steady income long-term. Online sales also offer creators many benefits. These include:
- Overhead advantages: Retail storefronts could cost thousands of dollars per month for rent, utilities as well as maintenance and staffing. In addition, you could collaborate with an established online sales platform (like ) at less than.
- The time and effort required to set an online store could be costly, time-consuming, and stress-inducing. The challenges of this process can cause people who create content to be discouraged and avoid getting started. With a reliable eCommerce platform, you'll be able to access all the tools and support you need to get selling on the internet immediately.
2) Monetization Trends for Content Creators
It is essential to be profitable when it comes to monetizing your work. How are creators of content making money? This Tilt's 2022 Content Entrepreneur Benchmark Research offers insight that will help you determine which channels are most lucrative for your company.
3) Look up trends for 2023
We predict that checkout trends will continue to grow until 2023. A lot of creators will turn to e-commerce platforms that offer customizable and automated checkout methods.
4) Live Sales Streaming: Emergence of Live Commerce
Influencers and content creators are aware of the purchasing power of social media. Therefore, they are posed to thrive in the latest trend of sales that is live commerce.
Live commerce refers to the act that encourages viewers to purchase the merchandise featured in a livestream while they are watching. Through providing hyperlinks to product pages with the automated checkout procedure, customers are able to purchase the item as they watch a streaming.
According to Statistica the livestream market accounted for 17 billion dollars in the US in 2022. They expect the number to double over the next 3 years. By capitalizing on your livestream impact, you'll be in the forefront of this trend by 2023.
5) Most popular payment methods
- Credit and debit cards: While more traditional options for payment are losing ground in favor of newer alternatives however, debit and credit cards remain at the top of the chart. According to research obtained from WorldPay credit cards are still expected to account for 20.8 percent of all online payments until 2024. Meanwhile, debit card purchases are predicted to make up 12.0 percent of all online transactions.
- Applications for Mobile Payments Data taken from Insider Intelligence suggests that the 2023 industry will be able to generate $1.152 trillion in mobile payments applications, such as PayPal as well as Zelle. Monetizing without mobile payment application compatibility may render your company's brand unaccessible to valuable transactions.
- Mobile wallets: Apple Pay, Google Pay, Samsung Pay, as well as other mobile wallets are gaining popularity in recent years. These easy and secure payment options are projected to make up 51.7 percentage of electronic commerce transactions by 2024.
- The BNPL (Buy now, buy later (BNPL) Payment methods are growing in traction. An example of this is Klarna the BNPL platform that splits customer purchase into four installments that are interest-free. Afterpay and Affirm both hold significant shares within this market as well. Based on Juniper Research, the e-commerce market was populated by 360 million BNPL users in 2022--and that amount is projected to rise to the number of 900 million in 2027.