3-month free of charge for vertical channel fees, Naver announced on the 2nd that it will reduce fees for some vertical channels within Naver Shopping and support online promotions from this month to November 30th for a period of three months. This is to help small and medium-sized enterprises (SME) sellers operate their businesses more stably in the recent downturn in the e-commerce market.
The channels eligible for fee reductions include Fashion Town “Soho & Street,” Fashion Town “Designer,” and Naver Pet “Brand Direct Store.” Until the end of November, the channel inflow fees that occur when product sales are generated through these channels for three months will be waived.
Naver Shopping is currently supporting SMEs’ online sales expansion through the “Naver Shopping Hot Deal Festival” promotion. Various categories such as digital, furniture, daily necessities, fashion, beauty, and food are being introduced with over 5,000 products from SME sellers in weekly special events. They plan to provide various supports such as planned event exposure and user marketing until December.
Naver has been making efforts to create a trustworthy environment for SME businesses with the fastest payment settlement in the industry and supporting free exchange and return costs. Since 2020, through the “Naver Pay Fast Settlement” service, they have been helping SMEs with a 100% payment settlement on the next day of delivery to facilitate cash flow for SMEs. It has pre-paid over 40 trillion won to about 120,000 SMEs. In addition, they provide support for return care fees for all Guaranteed Arrival sellers, enabling them to provide a free exchange and return service without any burden, and more than 70% of Guaranteed Arrival sellers are currently providing free exchange and return services.
Lee Yoon-sook, head of Naver’s shopping division, stated, “We have been operating a variety of mutual aid plans that help improve SME sales and market vitality based on technology and platforms,” and said, “In the somewhat sluggish recent e-commerce business environment, we will support SMEs so that they can continue to operate their businesses stably.”