Google is working on plans to make its video platform YouTube the next shopping destination, like Amazon and Alibaba, where all kinds of toys, gadgets, and other items will be available for sale online. YouTube, the world's largest video site, recently asked creators to tag and track product features in their clips using YouTube software. The data will then be linked to Google's parent company with analytics and shopping tools.
Many Product Categories will be available on Youtube
According to a Bloomberg report, a video category of the product will be created by Youtube. Products will be listed for sale in this video category. Where viewers will be able to purchase the product directly by clicking on the link for the product category. In addition, the company is testing a separate Shopify Inc. Through this, items can be sold from Youtube. A Youtube spokesperson confirmed that the company is testing the shopping feature. He said that Youtube has the full potential to become an advertising giant.
Youtube is The Least Used Property
According to a Bloomberg report, creators will have control of the display of their product in Youtube shopping. Andy Ellwood, president of e-commerce startup Basket, said YouTube is the least-used asset. In such a situation, if you invest in Youtube, it can benefit a lot. However, it is not clear yet how Youtube will generate revenue from it. However, the service has started offering a subscription to creators and can cut the payment by 30%.
This is How YouTube Will Earn
Google's marketing budget deteriorated during the epidemic, as the travel and physical retail sector were heavily affected by the epidemic, which led to Google's huge advertising, while e-commerce was in a big boom. In such a situation, Google has moved towards becoming a shopping destination just like Instagram. In May, Facebook introduced an updated shop feature for retailers. In such a situation, Google does not want to leave this opportunity, on its behalf, Youtube is trying to make it a big shopping hub. Google CEO Sundar Pichai suggested that the unboxing video of the popular product can be converted into a shopping opportunity. Apart from this, tutorials for makeup, cooking can be added in the shopping category. Also, the company is improving its payment division, which will help in online shopping.
