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1) Online vs. In-Person Sales
Prior to diving into online sales trends, you might wonder if e-commerce is the right direction for you. Based on the Quarterly Retail E-Commerce Sales Report of the Department of Commerce, online sales have been steadily increasing throughout 2022. The increase continued to grow even after the pandemic restriction on shopping in person was completely removed. These trends are likely to continue through 2023 and even beyond.
What is this means to content creators? If you're planning to start a shop when the revenue begins to come in E-commerce is likely to bring in more stable income long-term. E-commerce also offers creators many benefits. These include:
- Benefits of overhead: Retail stores could cost hundreds of dollars a month in rent, utility, maintenance, and staffing. In addition, you could join with a reputable online sales platform (like ) for less than.
- The time and effort required to set an online store can be time-consuming, expensive and extremely difficult. These challenges make it easy for content creators to feel overwhelmed and shy away from starting. However, with a trusted eCommerce platform, you'll be able to access all the tools and assistance you require to start selling your products online immediately.
2) The Monetization of Content Creation Trends
It is essential to be profitable when it comes to making money from your work. So how are content creators making money? In 2022, the Tilt's Content Entrepreneur Benchmark Research offers insight that will predict which channels are most lucrative for your brand.
3) Look up trends for 2023
We predict that checkout trends are expected to continue increasing in 2023. Many creators are likely to turn to e-commerce platforms that offer customizable and automated checkout methods.
4) Streaming Sales: The Emergence of Live Commerce
The influencers and creators of content know the buying power of social media. As such, these individuals can benefit from the current trend in sales that is live commerce.
Live commerce refers to the practice of urging viewers to purchase the merchandise featured in livestreams while viewing. Through providing hyperlinks to products' pages, and an automated checkout process--customers can purchase during the streaming.
According to Statistica Livestream sales were responsible for 17 billion dollars in the US by 2022. The company expects the figure to increase by three times within the next three years. By capitalizing on your livestream influence, you can stay ahead of the growing trend through 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 be the main source of 20.8% of e-commerce payments in 2024, while debit card transactions are expected to account for 12.0% of online purchases.
- Pay with mobile apps: The data taken from Insider Intelligence suggests that the 2023 year-end market is expected to see $1.152 trillion through mobile payment apps, including PayPal and Zelle. Monetizing without mobile payment app compatibility can make your business unobtainable to valuable transactions.
- Mobile wallets: Apple Pay, Google Pay, Samsung Pay, along with other mobile wallets, have seen a huge increase in their popularity over recent time. The simple and secure payments are predicted to make up 51.7 percentage of electronic commerce transactions by 2024.
- BNPPL: Buy now and pay in the future (BNPL) payments are growing in traction. An example of this is Klarna, a BNPL platform that splits purchase into four installments that are interest-free. Afterpay as well as Affirm each hold substantial shares in the same sector. Based on Juniper Research, the e-commerce market had 360 million BNPL customers in 2022. That figure is predicted to exceed the number of 900 million in 2027.