On October 9, 2020, a major media outlet, Bloomberg, suggested that a new initiative would be launched with Youtube and Shopify. (Original link at end of article.)
The article stated, "All toys, digital devices, and other products seen on Youtube will be available for purchase online. (Original link at the end of the article).
We are also testing the ability to buy through YouTube videos using Shopify. It is described as.
The big summary is.
- The ability to purchase directly on YouTube will be implemented.
- Is that direct purchase feature compatible with Shopify?
The following is a summary of the results.
New Opportunities for Shopify
YouTube, the parent company of Google, the world's most advanced and diverse service provider, and Shopify are compatible with the world-renowned YouTube. This is very good news. (It is not confirmed, but only suggested by Bloomberg that it is being tested, so its authenticity and status are unknown. However, I personally view Bloomberg as a reliable major media outlet, so I wonder if it has some credibility.)
Additional sales channels
In addition to Instagram and Facebook, the addition of YouTube, a service with a very large user base, to the Shopify site's sales channels will be of great benefit to store operators.
Companies can operate a YouTube channel and convey more detailed information about their products through video. They can deliver their brand image and philosophy more clearly. And the ability to purchase products directly from within those videos is expected to reduce the hassle for consumers and lower the hurdle to purchase.
The partnership with YouTube may also bring a number of influencers to Shopify.
YouTubers in particular have attracted a great deal of attention in recent years, and we often see YouTubers such as Hikakin, Takuji Izawa, Van Yoon, Yukirinu, and many others appearing on TV. It is exciting to think about the possibility of these people entering Shopify.
And I personally think that Shopify itself will attract even more attention as these influencers create Shopify stores.
Comparison with other companies in e-commerce services
Bloomberg predicts that through such efforts, Google could become a rival to leading e-commerce companies such as Amazon and Alibaba by becoming a giant advertising company to a giant e-commerce platform.
Andy Ellywood, president of e-commerce startup Basket, said, 'YouTube is currently one of the least efficient assets (for Google) to use. But if Google invests aggressively, it could be a tremendous opportunity for them." and YouTube's potential as an e-commerce platform.
Bloomberg Intelligence forecasts that the e-commerce market will grow to US$2.8 trillion by 2025, excluding China, and analyst Jitendra Waral asserted that Facebook has a dominant position in this market. And from YouTube's perspective, the projected growth of the e-commerce market is too large to ignore.
[Shopify] Will it be possible in the future to sell products directly from Youtube videos? Summary
This Bloomberg report on Shopify's relationship with YouTube has caused a great deal of consternation in the Shopify community. If plans continue to move forward and YouTube is actually added as one of the sales channels, we can expect to see more migration to and entry into Shopify.
Details on how products can actually be purchased from YouTube have not been revealed, but we can't wait to see the official announcement.
Thank you for reading to the end.
And now, have a great day!
(Original text below)