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All social media apps have jointly enabled live streaming. Instagram, Facebook, and Pinterest live stream with leading manufacturers to maximize their respective business potential.
YouTube has enabled shopping with a collection of live streaming. The advent of e-commerce has created more and more feasibility for this issue. In this way, people get closer to their favorite creators, and live broadcasts make this possible. With this, YouTube hopes to eventually “allow anyone with a mobile device and a product to easily host a live shopping stream.”
In an interview on YouTube, Wendy Young and Lux Pugeri, product designers working on YouTube shopping, provided tips on the platform’s evolving purchasing processes and how they plan to advance the platform’s live streaming business initiatives.
The main idea of buying live streaming is to provide an extension of existing user behaviors, with influencers already recommending products and developers in their uploads, often through endorsement deals and donations.
As Yang points out: “The exciting thing about live shopping, and shopping generally, is that we’re already seeing it happen on YouTube – with creators revealing a product line, dropping new merch, or discussing their latest shopping haul. People want to shop on YouTube and, according to a study we ran in partnership with Publicis and TalkShoppe, 89% of viewers agree that YouTube creators give recommendations they can trust.”
Yang also notes that 87% of people say they get the highest quality product information when shopping or browsing YouTube. She added,“we want to bring you closer to your favorite creators and make these live-streams interactive between creators and fans. Creators can offer their audience live product drops, exclusive discounts, and even poll fans during their shopping livestreams to interact with and get feedback from their fans.”
YouTube seeks to build more capabilities and interactive capacity to improve users’ live streaming shopping experience, and ultimately allow everyone to create their own shopping streams. This provides more opportunities for manufacturers to monetize their products through streams.
YouTube will be looking to play a key role in this, as the initial list of live broadcast shopping events provides more insight into what users want to see in these streams, and features that developers find most useful. This can be a significant development that can facilitate significant opportunities in the future.