Ecommerce is a multibillion-dollar enterprise in Asia, and YouTube is preparing a big move into that market. According to South Korea’s Yonhap News Agency, the video platform’s first official live shopping hub will be a Korean-language channel that will offer deals from approximately 30 brands.
Yonhap describes the new channel as a 90-day experiment that will serve as YouTube’s first live shopping channel in any country. The participating brands will deliver live-streaming content that will utilize YouTube’s growing array of ecommerce tools. The “people familiar with the matter” cited by Yonhap claimed that the new channel is expected to launch on June 30.
YouTube was coy about its live shopping plans in the Far East. “We may experiment with a variety of YouTube Shopping features from time to time,” a representative for the company told Reuters.
If YouTube does end up making a play for the South Korean live shopping industry, it will compete with companies like Naver, which controls an expanding ecommerce empire. The markets seem to believe in Google’s ability to compete with those locals. Reuters noted that Naver stock fell by 4% after YouTube announced its Korean live shopping channel.
For ByteDance, the parent company of YouTube rival TikTok, Asian live shopping initiatives led to a $25 billion profit last year. Several platforms, including YouTube, have attempted to bring that model to the West, where it has struggled to catch on.
Though YouTube is now competing for Asian live shopping dollars, it’s not giving up on its American ecommerce push. It recently announced an expansion for its YouTube Shopping affiliate program, and it boasts more than 100,000 channels that are linked to stores.
Attendees at VidCon will be able to experience YouTube Shopping for themselves. At the annual Anaheim convention, YouTube is hosting a “Drop Shop” featuring items endorsed by creators like Allyiah Gainer, Cassey Ho, Christen Dominique, and Sydney Morgan. Glossier notes that Drop Shop visitors will visit “Slay-TMs” to get “Slay Bucks” they can use at the activation.
This year’s VidCon runs from June 21-24. If you’re making the trip to Anaheim, don’t forget to bring your shopping list of must-have creator items.
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