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1) Online vs. In-Person Sales
As we look into trends for online sales you may be wondering if e-commerce is the most appropriate option for you. As per the Quarterly Retail E-Commerce Sales Report from the Department of Commerce, online sales steadily increased throughout 2022. The increase continued to grow after the online shopping restrictions were removed. These trends are likely to continue throughout 2023 and into the future.
What does this mean to content creators? Although you may be preparing to launch your own business once the revenue begins to come in E-commerce is likely to provide a more steady income long-term. E-commerce also offers creators other benefits, such as:
- Overhead advantages: Retail storefronts can cost thousands of dollars each month for rent, utilities as well as maintenance and staffing. Meanwhile, you can partner with a trusted online platform for sales (like ) at only a small portion of the price.
- It takes time and energy: setting the retail store up could be costly, time-consuming, and stress-inducing. The difficulties of the process can cause the creators of content to get 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) Monetization Trends for Content Creators
The ability to earn money is crucial in the monetization of your content. How are creators of content making money? The Tilt's 2022 Content Entrepreneur Benchmark Research offers insight that can forecast the most lucrative channels for your brand.
3) Look up trends for 2023
The trend of checkouts will continue to grow until 2023. More creators will likely turn to e-commerce platforms that offer customizable and automated checkout procedures.
4) Live Sales Streaming: Rise of Live Commerce
Content creators and influencers know the power to purchase from social media. This is why they can benefit from the current trend in sales called live commerce.
Live commerce refers to the process of urging viewers to purchase the products featured in a livestream while they are viewing. by providing links to page of the product with 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 dollars in the US by 2022. The company expects the figure to increase by three times over the next 3 years. If you can capitalize on your livestream's influence, you can stay ahead of this growing trend in 2023.
5) The most popular payment method
- Credit and debit cards Although more conventional payments are losing market share in favor of newer alternatives Credit and debit cards remain at the top of the chart. According to research obtained from WorldPay Credit cards will be the main source of 20.8 percent of all online payments in 2024, while debit card transactions will account for 12.0 percent of all online transactions.
- Pay with mobile apps: Information from Insider Intelligence suggests that the 2023 year-end market is expected to see $1.152 trillion of transactions made through mobile payment apps, including PayPal as well as Zelle. Monetizing without mobile payment apps' compatibility could render your business unobtainable to crucial transactions.
- Mobile wallets: Apple Pay, Google Pay, Samsung Pay, as well as other mobile wallets are gaining popularity in recent times. These easy and secure payments are predicted to account for 51.7 percent of all e-commerce transactions in 2024.
- BNPL: Buy now, and pay in the future (BNPL) Payment methods are gaining popularity. One popular example is Klarna which is a BNPL platform that divides purchase into four installments that are interest-free. Afterpay and Affirm have significant stakes within this market 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.