The event will allow viewers to shop new products, unlock limited-time offers and engage with creators and other viewers via Q&As and polls, the company said.
According to TechCrunch, the company first unveiled its plans to invest in live shopping at the beginning of 2021, as part of a larger initiative around integrated shopping on YouTube.
The initial tests had been focused on videos on demand before the livestream pilot kicked off this summer.
Since then, many YouTube creators have tried out livestream shopping with their fans. Other retailers also participated more directly, YouTube noted.
The upcoming Stream and Shop event, which kicks off with the Merrell Twins, will also feature products from top retailers, including Walmart, Samsung and Verizon.
Despite the steps it's been making toward livestream shopping, YouTube hasn't yet made the feature broadly available. Instead, it's continuing to test live shopping with individual creators, the report said.
In the meantime, however, rival TikTok has moved forward with live shopping features of its own.
Earlier this year, TikTok began piloting TikTok Shopping in the US, UK and Canada, in partnership with Shopify.
At an event last month, the company said it was expanding shopping with new partners Square, Ecwid, PrestaShop, Wix, SHOPLINE, OpenCart and BASE.
It also introduced a suite of solutions and features under the brand TikTok Shopping, which includes ways to integrate products into videos, ads and LIVE shopping support.