Refer Report

Naver will reduce some vertical channel inflow fees within Naver Shopping and support online promotions for small and medium-sized enterprise (SME) sellers for three months from this month to November. The purpose is to support SME sellers in the e-commerce market environment that has recently been weakened by the T-MakePrice incident.

Naver announced on the 2nd that it will not charge channel inflow fees that occur when products are sold through three locations: Fashion Town ‘Soho & Street’, ‘Designer’, and Naver Pet ‘Brand Direct Store’.

Naver is also supporting the expansion of SME online sales channels with the ‘Naver Shopping Hot Deal Competition’ promotion. About 5,000 products from smart store sellers, including digital, furniture, living, fashion, beauty, and food, are being introduced in a special exhibition every week. Naver will support special exhibition exposure and user marketing until December.

Naver is working hard to improve the SME business environment with the industry’s fastest payment settlement, free exchange/return cost support. Starting in 2020, the ‘Naver Pay Fast Settlement’ service will be introduced to support SME cash flow by settling 100% of the payment the day after delivery begins. So far, it has paid over 40 trillion won in advance to about 120,000 SMEs.

Naver is supporting the ‘Return Assurance Care’ usage fee for guaranteed arrival sellers. More than 70% of guaranteed arrival sellers are providing free/exchange/return services through this.

Lee Yoon-sook, head of Naver’s shopping business division, said, “We will support SMEs to continue their business stably in the recent somewhat stagnant e-commerce business environment.”

Kim Dae-young, Hankyung.com reporter kdy@hankyung.com

Source: korean