[Featured Stock] Cafe24 Rises 7.86% on 'YouTube Shopping Effect' Confirmation

The stock price of e-commerce platform company Cafe24 is on the rise. This is interpreted as an effect of YouTube Shopping beginning to be confirmed through indicators.

As of 9:13 AM on the 23rd, Cafe24 was trading at 32,000 KRW, up 2,200 KRW (7.86%) from the previous trading day. Early in the session, the stock price surged as much as 13.21% to 31,700 KRW.

On the same day, Mirae Asset Securities raised Cafe24's target price from 34,000 KRW to 40,000 KRW and continued to designate it as the top pick in the internet sector. Researcher Lim Hee-seok of Mirae Asset Securities said, "Since the launch of the YouTube Shopping 'dedicated store' feature last month, the average daily users on the domain (PC) have been rapidly increasing," adding, "As the YouTube Shopping performance of channels that proactively entered the market is confirmed, the traffic growth from the seller side is expected to accelerate further."

In fact, looking at the case of the 'Noppakutak Jaehoon' channel disclosed by Cafe24, the purchase conversion rate reached 12.8% by integrating a solid toothpaste brand product into the content. Considering that the typical e-commerce purchase conversion rate is less than 1%, this is an encouraging result more than 10 times higher.

Researcher Lim added, "As successful channel cases emerge, a rapid increase in sellers using YouTube Shopping is expected," and "The number of domestic YouTubers with over 100,000 subscribers exceeds 5,000, and YouTube Shopping, which provides new revenue beyond advertising, will be an attractive option for them."