Expected to launch later in 2021, Yahoo Shops will manage the shopping journey entirely on its own from start to finish. “It will be the first digital media marketplace anywhere with its own capabilities. We don’t see anybody doing that,” said Andrea Wasserman, Verizon Media’s head of global commerce.
What Is Yahoo Shops?
According to Verizon Media, Yahoo Shops will include:
- Shopping The Story: Providing consumers with a number of expert “reviews, editorial roundups and shoppable video” to purchase products directly from.
- XR Experiences: Leaning into the appeal of offering innovative features when shopping, Yahoo Shops’ XR experiences will include “beauty AR tools, a 3D product catalog, a virtual 3D dressing room and more.”
- Personalized Storefront: Providing consumers with their very own “digital mall,” the personalized storefronts will feature products and brands tailored to each individuals’ specific interests. This is accessed once consumers complete an initial onboarding process where they share their personal product preferences.
- Secure Check-Out & Payment Options: As consumers continue to expect seamless and efficient buying options, Yahoo Shops will offer a number of efficient processes when purchasing products, including “express check-out, shipment optimization, and buy-now, pay-later services.”
Yahoo Shops also announced that 15% (or more) of its online merchants will include Black-owned brands, “with plans to increase inclusion of other underrepresented groups in retail.” Until the marketplace is live, interested brands can submit their company and product information on Yahoo Shop’s dedicated landing page.
Will Yahoo Shops Expand In The Future?
Verizon Media announced that later this year, Yahoo Shops will also begin offering a “universal shopping cart” across its platforms. “Say you’re reading about the best back to school gear on Yahoo Life, you can add a product from that curated list to your shopping cart, click onto another story, and so on. Users will be directed back to Yahoo Shops for check-out,” shared Wasserman.
Why Is Verizon Media Launching Yahoo Shops?
Yahoo Shops is mutually beneficial for both brands and consumers. On the brand front, Yahoo Shops allows advertisers to connect with consumers throughout the entire buying process, increasing brand awareness and sales at the same time, in the same place. For consumers, Yahoo Shops offers a seamless, personalized and efficient online experience, giving buyers a one-stop-shop that is tailored to their specific interests.
“They [consumers] tell us that they trust us, they vote with their dollars by clicking or tapping on our affiliate links and buying with the merchants that we send them to,” said Wasserman. “So when we thought about what is the logical next step for us it really is taking our position as a digital media company and bridging that with native commerce capabilities.”
Verizon Media’s commerce expansion puts the company in a strong position to connect with consumers and brands as the online shopping boom that has taken place over the last year continues. Wasserman added that “since the beginning of our commerce expansion we’ve focused on delivering a smart and personalized shopping experience for our users, while shortening the path to purchase for our brand partners.”
How Can Yahoo Shops Benefit Digital Advertisers?
With the online shopping trend remaining strong in 2021 thus far, advertisers must continue to leverage new opportunities and platforms to accommodate consumers’ new shopping patterns. Innovative ecommerce offerings, like Yahoo Shops, allow brands and advertisers to meet consumers where they are – throughout the entire shopping journey – with personalized options and a seamless online experience. As consumers continue to expect these efficient and convenient buying options, advertisers should capitalize on enhanced digital shopping platforms which allow them to reach, engage with and convert consumers as the ecommerce boom persists.
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About the AuthorMore Content by Carolyn Harding