[Image by Getty Photos]
With the holiday season quickly approaching, consumers everywhere are going to be looking for gifts. YouTube, which introduced a new feature called “Livestream Shopping” back in July, looks to leverage impulse shoppers for conversion into additional sales. Now, consumers watching live streams can purchase products offered for a limited time, see new products, and ask questions about the products directly to the sellers. However, it is not out yet for all users. In addition to introducing this feature, YouTube will also be rolling out updates for its video action campaigns, including CTV.
Livestream Shopping Events
YouTube announced it would be hosting a series of live shopping events during the holiday season. It hopes to hone in on the uptick in shopper behavior during this time of year. YouTube’s Holiday Stream and Shop will start on November 15th, offering a 7-day shopping live broadcast.¹ It first announced its plans to invest in live shopping at the beginning of 2021. This update is part of that initiative to push toward integrated shopping via the platform.
[Image by Bloomberg]
So far, many YouTube creators have tried the Livestream shopping capability with their fans, including Simply Nailogical, Hyram, and Raven Elyse. They have all had a successful experience with millions of fans tuning in from all over the world to purchase their products. The upcoming Stream and Shop event will also feature products from top retailers, including Walmart, Samsung, and Verizon.² Youtube continues to test live shopping with individual creators.
As cable TV is slowly becoming less popular for people to consume, connected televisions, or CTVs, that access the internet and stream digital content are becoming the new norm. Advertisers are noticing this opportunity. According to Google, “60% of YouTube CTV viewers are watching with others, people are connecting more deeply with each other by sharing YouTube content they love on the big screen”³
[Image by Google]
When people continue to stream YouTube, they have something in common, which creates a culture of streaming. And as people begin to share a common interest, there is more demand for content. Brands can capitalize on this, expanding their overall reach and creating more impactful campaigns that touch the hearts of consumers. U.S. advertisers can also view insights on their YouTube CTV video investments for accurate numbers via Comscore Campaign Rating (CCR).
What These Changes Mean For Businesses
This introduction of YouTube’s live shopping events along with CTV campaigns is significant, as businesses can hone in on their target audiences. Brands are now able to extend the overall reach and impact of their campaigns. With concentrated audiences, advertisements will be more specific. As for live-shopping events, creators will connect with their fans on a whole new level. A study done by Youtube found that 85% of viewers trust creators’ recommendations and that viewers value information quality and quantity over the video’s production value.¹