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1) Online vs. In-Person Sales
Prior to diving into online sales trends, you may be wondering if e-commerce is the most appropriate option for you. According to the Quarterly Retail E-Commerce Sales Report from the Department of Commerce, online sales have been steadily increasing throughout 2022. It continued to increase even after the pandemic online shopping restrictions were lifted. These trends are likely to continue throughout 2023 and into the future.
What do these mean for creators of content? While you might prepare to launch your own business once you begin to earn a profit, e-commerce will likely provide a more steady revenue over time. E-commerce also offers creators additional benefits, including:
- Advantages over overheads: Retail storefronts are expensive, requiring thousands of dollars each month to rent, utilities such as staffing, maintenance, and. In addition, you could collaborate with an established online platform for sales (like ) at only a small portion of the price.
- The time and effort required to set up a retail store is time-consuming, costly, and difficult. The challenges of this process make it easy for the creators of content to get overwhelmed and shy away from starting. But, with a reputable eCommerce platform, you'll be able to get all the resources and assistance you require to get selling on the internet immediately.
2.) Monetization Trends for Content Creators
Profitability is key in making money from your work. So how are content creators making profit? This Tilt's 2022 Content Entrepreneur Benchmark Research offers insight that will predict the most profitable outlets for your business.
3) Checkout Trends for 2023
Our prediction is that the trend towards checkouts are expected to continue increasing until 2023. More creators will likely use e-commerce platforms which offer customizable and automated checkout methods.
4.) Streaming Sales: The Emergence of Live Commerce
Influencers and content creators are aware of the power to purchase from social media. Therefore, they can benefit from the latest sales trend: live commerce.
Live commerce is the act of prompting audiences to buy the merchandise featured in a livestream while they are watching. Through providing hyperlinks to page of the product with an automated checkout process--customers can purchase while following along with a live stream.
According to Statistica Livestream sales were responsible for $17 billion in the US in 2022--and they expect the number to double in the next three years. In order to capitalize on your livestream influence, you can stay ahead of this growing trend in 2023.
5) Popular Payment Methods
- Credit and debit cards: While more traditional payment methods are losing share to more modern options however, debit and credit cards still top the charts. Based on data provided by WorldPay Credit cards will account for 20.8% of e-commerce payments by 2024--while debit card payments are predicted to make up 12.0 percent of purchases made online.
- Pay with mobile apps: The data from Insider Intelligence suggests that the 2023 market will see $1.152 trillion in mobile payments apps--like PayPal and Zelle. Payments made without mobile app compatibility can make your business unobtainable to crucial transactions.
- Mobile Wallets: Apple Pay, Google Pay, Samsung Pay, and other mobile wallets are gaining popularity in recent times. The simple and secure payment options are projected to make up 51.7 percent of all e-commerce transactions by 2024.
- BNPPL: Buy now buy later (BNPL) payments are gaining popularity. One popular example is Klarna, a BNPL platform that divides purchases into four interest-free payments. Afterpay as well as Affirm have significant stakes in the same sector. As per Juniper Research, the e-commerce market had 360 million BNPL users in 2022--and that amount is projected to rise to the number of 900 million in 2027.