YouTube icon
1) Online vs. In-Person Sales
Prior to diving 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 steadily increased throughout 2022. It continued to increase after the online shopping restrictions were removed. It is possible for these trends to continue into 2023 and beyond.
What do these mean to content creators? Although you may be preparing to launch your own business once the revenue begins to come in online, it is more likely that e-commerce can bring in more stable income long-term. E-commerce also offers creators other benefits, such as:
- Overhead advantages: Retail storefronts can cost thousands of dollars per month for rent, utilities such as staffing, maintenance, and. Meanwhile, you can collaborate with an established online platform for sales (like ) with a fraction of the cost.
- The time and effort required to set up a retail store is time-consuming, costly and extremely stressful. The challenges of this process can cause content creators to feel overwhelmed and shy away from starting. But, with a reputable online store, you will be able to access all the tools and support you need to start selling your products online immediately.
2.) Marketing Trends of Content Creators
Profitability is key in making money from your work. What are the ways that content creators are earning profit? This Tilt's 2022 Content Entrepreneur Benchmark Research offers insight that will help you determine the most profitable outlets for your company.
3) Look up trends for 2023
The trend of checkouts will only continue growing in 2023. Many creators are likely to choose e-commerce sites that allow for customized and automated checkout processes.
4.) Streaming Sales: The Rise of Live Commerce
Content creators and influencers know the buying power of social media. As such, these individuals can benefit from the latest trend of sales: live commerce.
Live commerce refers to the act of urging viewers to purchase the products featured in the livestream they are watching. Through providing hyperlinks to products' pages, and an automated checkout process--customers can click and buy as they watch a live stream.
According to Statistica the livestream market accounted for 17 billion dollars in the US by 2022. The company expects this metric to triple over the next 3 years. By capitalizing on your livestream influence, you can stay ahead of the growing trend in 2023.
5) Popular Payment Methods
- Credit and debit cards Although more conventional options for payment are losing ground to more modern options however, debit and credit cards remain at the top of the chart. Based on data obtained from WorldPay Credit cards are still expected to make up 20.8 percent of online transactions in 2024, while debit card transactions are predicted to make up 12.0 percent of purchases made online.
- Pay with mobile apps: The data 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 brand inaccessible to these important transactions.
- Mobile Wallets: Apple Pay, Google Pay, Samsung Pay, and other mobile wallets have skyrocketed in popularity over recent time. They are simple and safe payment methods are expected to make up 51.7 per cent of online transactions by 2024.
- The BNPL (Buy now, and pay in the future (BNPL) Payment methods are growing in traction. An example of this is Klarna the BNPL platform that divides purchases into four interest-free installments. Afterpay as well as Affirm both hold significant shares within this market as well. Based on Juniper Research, the e-commerce market saw 360 million BNPL customers in 2022. This amount is projected to rise to 900 million by 2027.