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1) Online vs. In-Person Sales
Before we dive into the latest trends in 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 have been steadily increasing throughout 2022. It continued to increase even after the pandemic online shopping restrictions were lifted. We can expect these trends to continue into 2023 and even beyond.
What do these mean for content creators? If you're planning to launch your own business once your revenue starts pouring in E-commerce is likely to provide a more steady income long-term. Online sales also offer creators additional benefits, including:
- Benefits of overhead: Retail stores are expensive, requiring thousands of dollars per month to rent, utilities, maintenance, and staffing. You can also collaborate with an established online selling platform (like ) at less than.
- Time and Hassle: Setting an online store is time-consuming, costly, and stressful. The difficulties of the process make it easy for the creators of content to get disillusioned and avoid starting. With a reliable e-commerce platform, you can get all the resources and assistance you require to get selling on the internet immediately.
2) Monetization Trends for Content Creators
It is essential to be profitable when it comes to the monetization of your content. So how are content creators earning profit? The Tilt's 2022 Content Entrepreneur Benchmark Research offers insight that will predict the most profitable outlets for your brand.
3) Find out the latest trends in 2023
We predict that checkout trends will only continue growing until 2023. More creators will likely choose e-commerce sites that provide customizable and automated checkout procedures.
4) Selling Streaming Live: Emergence of Live Commerce
Influencers and content creators are aware of the power to purchase from social media. Therefore, they are posed to thrive in the current trend in sales: live commerce.
Live commerce refers to the act of prompting audiences to buy the items featured on a livestream while they are viewing. By providing links to the page of the product with the automated checkout procedure, customers can click and buy as they watch a streaming.
According to Statistica, livestream sales accounted for 17 billion dollars in the US by 2022. The company expects this metric to triple in the next three years. By capitalizing on your livestream influence, you can stay ahead of the growing trend in 2023.
5) Most popular payment methods
- Credit and debit cards In a time when more traditional payment methods are losing share in favor of newer alternatives Credit and debit cards remain at the top of the chart. Based on data from WorldPay Credit cards are still expected to be the main source of 20.8% of e-commerce payments in 2024, while debit card transactions will account for 12.0 percent of purchases made online.
- Pay with mobile apps: Data obtained from Insider Intelligence suggests that the 2023 industry will be able to generate $1.152 trillion of transactions made through mobile payment apps, including PayPal as well as Zelle. Payments made without mobile apps' compatibility could render your business unobtainable to crucial transactions.
- Mobile Wallets: Apple Pay, Google Pay, Samsung Pay, as well as other mobile wallets have seen a huge increase in their popularity over recent times. These easy and secure payment methods are expected to make up 51.7 percent of all electronic commerce transactions in 2024.
- The BNPL (Buy now, pay later (BNPL) payments have been gaining traction. An example of this is Klarna, a BNPL platform that divides purchases into four interest-free installments. Afterpay as well as Affirm each hold substantial shares in this sector as well. According to Juniper Research, the e-commerce market saw 360 million BNPL customers in 2022. That figure is predicted to exceed 900 million by 2027.