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1) Online vs. In-Person Sales
As we look 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 by the Department of Commerce, online sales have been steadily increasing throughout 2022. It continued to increase regardless of the fact that restriction on shopping in person was completely removed. These trends are likely to continue through 2023 and beyond.
What does this mean for content creators? If you're planning to start a shop when your revenue starts pouring in online, it is more likely that e-commerce can be a steady source of income long-term. Online sales also offer creators many benefits. These include:
- Overhead advantages: Retail storefronts are expensive, requiring thousands of dollars each month to rent, utilities as well as maintenance and staffing. Meanwhile, you can collaborate with an established online platform for sales (like ) for only a small portion of the price.
- Time and Hassle: Setting up a retail store could be costly, time-consuming and extremely difficult. The challenges of this process create a lot of opportunities for people who create content to be disillusioned and avoid starting. But, with a reputable eCommerce platform, you'll be able to get all the resources and support you need to get selling on the internet immediately.
2) Marketing Trends of Content Creators
Profitability is key when it comes to the monetization of your content. How are creators of content making profits? This Tilt's 2022 Content Entrepreneur Benchmark Research offers insight that will help you determine the most lucrative channels for your business.
3) Find out the latest trends in 2023
The trend of checkouts will only continue growing until 2023. More creators will likely turn to e-commerce platforms that provide customizable and automated checkout procedures.
4) Live Sales Streaming: Rise of Live Commerce
Content creators and influencers know the purchasing power of social media. Therefore, they have the potential to flourish in the latest sales trend called live commerce.
Live commerce is the process of prompting audiences to buy the products featured in livestreams while watching. by providing links to products' pages, and the automated checkout procedure, customers are able to purchase the item while following along with a stream.
According to Statistica, livestream sales accounted for $17 billion in the US in 2022--and they expect this metric to triple within the next three years. By capitalizing on your livestream influence, you will be ahead of this growing trend in 2023.
5) Most popular payment methods
- Credit and debit cards In a time when more traditional options for payment are losing ground to more modern options, credit and debit cards remain at the top of the chart. Based on data obtained from WorldPay credit cards are still expected to account for 20.8 percent of online transactions by 2024--while debit card payments are predicted to make up 12.0 percent of all online transactions.
- Mobile Payment Apps: Information obtained from Insider Intelligence suggests that the 2023 industry will be able to generate $1.152 trillion through mobile payment apps, including PayPal and Zelle. Payments made without mobile apps' compatibility could render your business unobtainable to valuable transactions.
- Mobile Wallets: Apple Pay, Google Pay, Samsung Pay, as well as other mobile wallets are gaining popularity in the past few years. The simple and secure payment options are projected to be responsible for 51.7 per cent of online transactions by 2024.
- BNPL: Buy now, and pay in the future (BNPL) Payment methods are growing in traction. An example of this is Klarna which is a BNPL platform that divides purchases into four interest-free installments. Afterpay and Affirm have significant stakes in the same sector. Based on Juniper Research, the e-commerce market saw 360 million BNPL customers in 2022. That figure is predicted to exceed the number of 900 million in 2027.