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1) Online vs. In-Person Sales
Before we dive into trends for online sales you might wonder if e-commerce is the right direction for you. Based on the Quarterly Retail E-Commerce Sales Report by the Department of Commerce, online sales have been steadily increasing throughout 2022. The increase continued to grow after the restriction on shopping in person was completely lifted. These trends are likely to continue throughout 2023 and even beyond.
What is this means to content creators? Although you may be preparing to launch your own business once you begin to earn a profit, e-commerce will likely bring in more stable revenue over time. E-commerce also offers creators many benefits. These include:
- Overhead advantages: Retail storefronts can cost hundreds of dollars a month to rent, utilities, maintenance, and staffing. You can also collaborate with an established online platform for sales (like ) with less than.
- It takes time and energy: setting an online store is time-consuming, costly and extremely stress-inducing. These challenges create a lot of opportunities for people who create content to be discouraged and avoid getting started. But, with a reputable eCommerce platform, you'll be able to get all the resources and support you need to begin selling online right away.
2.) Marketing Trends of Content Creators
The ability to earn money is crucial in the process of making money from your work. So how are content creators making profits? This Tilt's 2022 Content Entrepreneur Benchmark Research offers insight that will predict the most lucrative channels for your company.
3) Find out the latest trends in 2023
The trend of checkouts will continue to grow by 2023. A lot of creators will choose e-commerce sites that provide customizable and automated checkout methods.
4.) Selling Streaming Live: Rise of Live Commerce
Influencers and content creators are aware of the purchasing power of social media. As such, these individuals are posed to thrive in the current trend in sales: live commerce.
Live Commerce is the practice of urging viewers to purchase the items featured on livestreams while watching. By providing links to the product pages with an automated checkout process--customers are able to purchase the item as they watch a stream.
According to Statistica Livestream sales were responsible for $17 billion in the US by 2022. The company expects the figure to increase by three times within the next three years. In order to capitalize on your livestream influence, you will be ahead of the growing trend through 2023.
5) Popular Payment Methods
- Credit and debit cards Although more conventional payments are losing market share in favor of newer alternatives Credit and debit cards still top the charts. According to research from WorldPay Credit cards are still expected to make up 20.8% of e-commerce payments until 2024. Meanwhile, debit card purchases are predicted to make up 12.0 percent of all online transactions.
- Mobile Payment Apps: Data taken from Insider Intelligence suggests that the 2023 industry will be able to generate $1.152 trillion of transactions made through mobile payment applications, such as PayPal and Zelle. Paying for transactions without mobile application compatibility may render your company's brand unaccessible to important transactions.
- Mobile wallets: Apple Pay, Google Pay, Samsung Pay, as well as other mobile wallets are gaining popularity in recent time. The simple and secure payments are predicted to be responsible for 51.7 percentage of online transactions in 2024.
- The BNPL (Buy now, pay later (BNPL) payment methods are gaining popularity. A popular instance is Klarna, a BNPL platform that divides purchases into four interest-free installments. Afterpay as well as Affirm have significant stakes within this market as well. As per Juniper Research, the e-commerce market had 360 million BNPL customers in 2022. That number is expected to surpass the number of 900 million in 2027.