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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 best option for you. According to the Quarterly Retail E-Commerce Sales Report of the Department of Commerce, online sales have steadily increased through 2022. This rise continued even after the pandemic restriction on shopping in person was completely removed. We can expect these trends to continue throughout 2023 and even beyond.
What is this means for creators of content? Although you may be preparing to start a shop when the revenue begins to come in, e-commerce will likely provide a more steady income long-term. The online sales can also provide creators with additional benefits, including:
- Benefits of overhead: Retail stores could cost thousands of dollars per month for rent, utilities, maintenance, and staffing. Meanwhile, you can partner with a trusted online sales platform (like ) with only a small portion of the price.
- Time and Hassle: Setting an online store is time-consuming, costly as well as stress-inducing. These challenges create a lot of opportunities for the creators of content to get disillusioned and avoid starting. But, with a reputable eCommerce platform, you'll be able to access all the tools and help you get selling on the internet immediately.
2.) The Monetization of Content Creation Trends
Profitability is key in the process of monetizing your work. What are the ways that content creators are earning money? This Tilt's 2022 Content Entrepreneur Benchmark Research offers insight that can forecast the most lucrative channels for your brand.
3) Checkout Trends for 2023
Our prediction is that the trend towards checkouts are expected to continue increasing by 2023. Many creators are likely to use e-commerce platforms which offer customizable and automated checkout methods.
4.) Live Sales Streaming: Emergence of Live Commerce
Content creators and influencers know the buying power of social media. Therefore, they are posed to thrive in the current trend in sales that is live commerce.
Live Commerce is the practice that encourages viewers to purchase the products featured in the livestream they are viewing. Through providing hyperlinks to page of the product with the automated checkout procedure, customers can purchase as they watch a streaming.
According to Statistica, livestream sales accounted for 17 billion dollars in the US by 2022. The company expects the number to double within the next three years. In order to capitalize on your livestream influence, you can stay ahead of this growing trend through 2023.
5) Most popular payment methods
- Credit and debit cards In a time when more traditional payments are losing market share to more modern options, credit and debit cards are still at the top of the list. Based on data obtained from WorldPay Credit cards are still expected to make up 20.8% of e-commerce payments in 2024, while debit card transactions are predicted to make up 12.0% of online purchases.
- Pay with mobile apps: The data obtained from Insider Intelligence suggests that the 2023 year-end market is expected to see $1.152 trillion through mobile payment apps, including PayPal as well as Zelle. Monetizing without mobile payment application compatibility may render your company's brand unaccessible to crucial transactions.
- Mobile wallets: Apple Pay, Google Pay, Samsung Pay, as well as other mobile wallets have skyrocketed in popularity over recent times. These easy and secure payment options are projected to be responsible for 51.7 percent of all electronic commerce transactions in 2024.
- BNPL: Buy now, buy later (BNPL) Payment methods are growing in traction. A popular instance is Klarna, a BNPL platform that splits customer purchases into four interest-free payments. Afterpay as well as Affirm have significant stakes in the same sector. According to Juniper Research, the e-commerce market had 360 million BNPL customers in 2022. This amount is projected to rise to the 900 million mark by 2027.