“Naver (NAVER) announced on the 16th that its AI-powered recommendation shopping service, ‘Naver Plus Store,’ is attracting loyal users and increasing user retention. The discovery of preferences based on AI is leading to repeat purchases and subscriptions, contributing to a personalized AI shopping experience.”
“As of last month, the average number of purchases per daily visitor and conversion rate in the Neplus app (application) were more than twice as high as the existing recommendation shopping and price comparison services within the Naver app. The proportion of shopping transaction amounts for Naver Plus membership users was also 30 percentage points higher in the Neplus app compared to the Naver app.”
“This indicates that the more frequently the app is used, the more sophisticated AI-based personalized recommendations become, increasing the likelihood that users will discover products and stores matching their preferences. AI tools such as the AI shopping guide and discovery tab implemented in the Neplus app also contribute to user interest by adding fun to the shopping experience.”
“The discovery and connection of preferences through AI shopping are leading to repeat purchases and subscriptions, invigorating the overall Neplus AI shopping ecosystem.”
“Since the introduction of the subscription solution about eight months ago from last October to last month, sellers have increased by 52% compared to the same period the previous year, and buyers using subscriptions have increased by 18% with related transaction amounts up by 26%. Naver made subscription solution fees free in June to encourage increased loyal transactions.”
“As AI effectively recommends products and stores matching user preferences and facilitates regular repeated purchases, more sellers are gaining loyal users. Specialty coffee brand ‘Momos Coffee,’ having joined the Naver Plus Store and adopted the subscription solution last October, now sees an average monthly subscription transaction amount increase of 29% and subscription counts rise 31% each month. As of June, their transaction amount increased more than 5.8 times compared to last October.”
“As AI commerce service improves in recommendation accuracy with accumulating repeat purchase and interest data, Naver plans to focus on stimulating loyal transactions and investing in technology and marketing targeted at high-retention user bases.”
“Specifically, in August, Naver intends to expand the shopping query categories, to which the ‘AI Shopping Guide’ is provided, from digital and electronics to preference-based categories like golf, hiking, and camping, enhancing the discovery and enjoyment of AI shopping.”
“Naver CEO Choi Soo-yeon stated, ‘Signals show that commerce based on regular customers is becoming established centered on Naver Plus Store, especially since many users are experiencing and utilizing AI recommendation shopping in various ways since the app’s launch.’ She added, ‘We aim to strengthen promotional and marketing strategies to increase the retention of loyal users and focus on technology investment.'”