Shinhan Investment Corp. analyzed on the 20th that Cafe24's total transaction volume (GMV) growth visibility has increased further with the launch of a YouTube Shopping dedicated store.
Aram Kim, a researcher at Shinhan Investment Corp., stated in a report on the same day, "It is difficult to predict how quickly YouTube Shopping GMV will rise, but it is clear that YouTube's influence on the domestic e-commerce ecosystem will continue to grow," adding, "It is time to enjoy the expansion of the total addressable market (TAM) rather than worrying about short-term valuation pressure."
According to industry sources the previous day, YouTube opened the world's first dedicated YouTube Shopping store feature. The shopping flow has expanded from external links to within the YouTube web/app. Products can be ordered directly within YouTube without leaving the page.
He said, "Overall, it is similar to overseas TikTok Shop and Naver Smart Store," and predicted, "It is easy to implement, and since the needs of sellers and creators align, the spread of the YouTube Shopping dedicated store will be faster compared to the existing external link method."
He continued, "I propose a method to separate the valuation of existing business and YouTube Shopping value," and analyzed, "The appropriate corporate value will vary depending on how positively YouTube Shopping GMV and multiples are viewed, but despite the stock price rising 30% the previous day, there is still upside remaining."
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