YouTube has exciting news for creators and shoppers alike! On Tuesday, the platform announced the launch of new Shopping features that aim to enhance the shopping experience for both parties. These features include curated collections, improved planning for shoppable videos, and increased monetization potential for older videos. With these updates, YouTube is setting its sights on competing with other shopping platforms such as TikTok Shop, which is predicted to reach a whopping $17.5 billion in the U.S. this year.
Let’s take a closer look at the new features being introduced by YouTube:
Shopping Collections: Now, creators have the ability to curate their favorite brands and products into collections for viewers to browse through. These collections can be based on various themes, from everyday makeup looks to capsule wardrobes. And the best part? They can be accessed by viewers in a creator’s product list, Store tab, and video description. Currently, creators can create collections through the Studio app on their phone, with plans for a desktop version to be released soon.
YouTube is also streamlining the process for creators with the launch of the Affiliate Hub. This feature provides creators with information on Shopping partners, competitive commission rates, and promo codes. Additionally, creators can even request samples from top brands through this hub. By making this information readily available, YouTube aims to make planning for shoppable videos a breeze.
The platform is also integrating Fourthwall, a website builder that helps creators build online shops, into its list of partner platforms. This integration allows users to easily connect their Fourthwall shops with YouTube Studio, streamlining content creation and management. Previously, YouTube has established partnerships with Shopify, Spreadshop, and Spring, and is now expanding its options with Fourthwall.
Last year, YouTube introduced bulk product tagging for creators to add products to their video library descriptions. Now, this feature is available for all Shopping creators, even for older videos that are still receiving high traffic. This means that creators have the potential to earn more revenue from their past content, making it a win-win for both creators and shoppers.
And the numbers speak for themselves- YouTube has seen a massive increase in watch time for shopping-related videos, surpassing 30 billion hours in 2023 alone. That’s a 25% increase in watch time for videos that help viewers shop on the platform. With these new Shopping features, YouTube is determined to further elevate the shopping experience for creators and shoppers alike.
