Cafe24, One Month Since Launching 'YouTube Shopping Exclusive Store'
Nearly Double the Number of Shopping Mall Visitors
'YouTube Shopping Academy' Also Offered for Store Opening Lectures
Cafe24's 'YouTube Shopping Exclusive Store' service, launched in collaboration with YouTube on the 19th of last month as the world's first of its kind, is sailing smoothly. By directly linking YouTube content with online shopping and introducing products alongside content, it has led to an increase in visitors to stores (online shopping malls) opened through Cafe24.
According to Mirae Asset Securities on the 25th, the average daily number of users on Cafe24's domain has increased to 80,000 to 90,000 this month. Considering that the average daily users in early June, before the launch of the YouTube Shopping Exclusive Store, remained in the low 50,000s, this represents nearly double the growth.
Cafe24 launches the world's first 'YouTube Shopping Dedicated Store Opening Feature.' [Image provided by Cafe24]
The YouTube Shopping Exclusive Store is a feature that allows the opening of a dedicated store for YouTube shopping. Without the need to open a Direct to Consumer (D2C) store targeting consumers, users can start YouTube shopping through the exclusive store. Previously, it was necessary to open a D2C self-operated mall through companies like Cafe24 to use both the YouTube channel and the shopping mall, but this process has been omitted.
This enables creators and brand sellers without their own malls to start YouTube shopping. Cafe24, through joint development with YouTube, implemented functions such as store opening, product registration, and channel linking for the exclusive store. The procedure to open a YouTube Shopping Exclusive Store is simple. After signing up with a Google account, an exclusive store for YouTube shopping is created. After opening the store, products can be sold on YouTube channels that meet the conditions of the 'YouTube Partner Program.' In addition to functions necessary for store operation such as customer management and delivery, it also provides analysis functions for content and products sold.
For example, YouTube creator Heopop, who has 4.26 million subscribers, recently sold three types of shirts designed in styles he often wears in his video content through the YouTube store. These can be purchased on the shopping mall page directly linked through Heopop's YouTube channel and videos, and some sizes have become so popular that they are sold out.
Creator Heopop's T-shirts being sold through the YouTube shopping-exclusive store are displayed on the YouTube channel. [Photo by YouTube app capture]
Cafe24 has also launched the 'YouTube Shopping Academy' for creators who want an exclusive store. This academy, operated by Cafe24, provides step-by-step educational content for creators and sellers who want to start a business with the YouTube Shopping Exclusive Store. The content ranges from how to operate YouTube shopping to how to open an e-commerce shopping mall and manage a YouTube channel.
The educational video content, provided in the form of online lectures, is all free to watch. Lecturers include current Cafe24 employees responsible for YouTube shopping and e-commerce expert instructors. Popular creators using YouTube shopping features also participate in the lectures, including AjujaTVChamPD, HongSound, and Minam's Driving School.
As the YouTube exclusive store gains initial popularity, the academy is also becoming popular. According to Cafe24, about 37% of all visitors to the academy homepage are repeat visitors. A high revisit rate can be interpreted as many customers consistently attending the lectures. The lecture with the highest number of views among all content is 'Starting a YouTube Shopping Exclusive Store,' accounting for 22% of total views.
A Cafe24 official stated, "We plan to provide content so that necessary knowledge can be easily learned anytime and anywhere through diverse and in-depth educational content," adding, "In the future, we will support creators and online business operators with various content, including education programs linking online and offline environments."
As the YouTube Shopping Exclusive Store gets fully on track, Cafe24's performance is also expected to rise. Since it directly connects YouTube content and commerce, the likelihood of purchases is high. Heeseok Lim, a researcher at Mirae Asset Securities, said, "As successful channel cases emerge, a rapid increase in the number of sellers using YouTube shopping is expected," and added, "If payment within the app becomes possible instead of moving to an exclusive domain or external links, a significant increase in purchase conversion rates is anticipated." Mirae Asset Securities raised Cafe24's target stock price by 17.6%, from 34,000 KRW to 40,000 KRW.
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