Google-owned YouTube is set to launch its first-ever shopping channel in South Korea this month, marking a significant milestone in the world of live commerce.
The channel is scheduled to go live on June 30 and will offer a platform for companies to engage in live commerce activities. With approximately 30 brands participating at its launch, the channel aims to provide captivating shopping content through livestreams.
This business venture represents YouTube’s inaugural foray into establishing an official shopping channel in any country worldwide. A YouTube spokesperson informed Yonhap News Agency that the company is dedicated to constructing an immersive, informative, and entertaining shopping experience for all users, including those in Korea.
In pursuit of this goal, YouTube intends to experiment with various YouTube Shopping features, continuously striving to optimize and deliver the finest user experience. However, specific details regarding these features were not disclosed.
In the previous year, YouTube introduced a shopping tab in its Explore section, allowing eligible creators to tag products during livestreams or include product listings beneath their videos. This functionality enables viewers to conveniently purchase the showcased products.
During Alphabet’s Q4 2022 earnings call, Philipp Schindler, the chief business officer of the parent company, emphasized the organization’s focus on making YouTube a more “shoppable” platform. This initiative aims to foster greater creator engagement, leading to increased content and viewership, consequently providing more opportunities for advertisers.
YouTube experienced a decline of 2.6 percent in ad revenue during the March quarter, marking the third consecutive quarter of such decline. For the quarter ending March 31, YouTube generated $6.69 billion in advertising revenue, compared to $6.87 billion during the same period the previous year.
