Over 26,000 Sellers on 'Naver Smart Store' Achieve Annual Sales Exceeding 100 Million KRW

New Sellers on Smart Store Double Compared to Last Year

[Asia Economy Reporter Jin-gyu Lee] Naver announced on the 10th that the number of sellers who achieved annual sales of over 100 million KRW through its small business online startup support tool 'Smart Store' has exceeded 26,000 in the past year. This represents an increase of about 40% compared to the same period last year.

In June alone, the number of sellers with sales exceeding 100 million KRW more than doubled compared to the same period last year, reaching 2,800. Naver stated, "It is analyzed that small business owners who successfully transitioned to digital amid the economic downturn caused by the novel coronavirus disease (COVID-19) have grown significantly."

Since the outbreak of COVID-19, the number of new sellers entering online startups has also increased. The number of newly created Smart Stores each month has risen from an average of 15,000 per month in 2018 to an average of 35,000 per month as of last April, showing an increase of about twice in two years. In March, when the spread of COVID-19 was severe, 37,000 Smart Stores were created, a 34% increase compared to February.

During the three months immediately following COVID-19 (March to May), the proportion of new sellers in their 20s and 30s was the highest at 67%. The number of sellers in their 20s during this period increased by 72% compared to the three months before COVID-19. New sellers in their 50s who challenged online startups also increased by 70%.

Naver supports small business owners' digital transformation by providing live commerce tool technology and non-face-to-face online education consulting. The cumulative views of online live lectures held at Naver Partners Square since last March have exceeded 1 million, gaining high interest from business owners.

Lee Yun-sook, CEO of Forest CIC, in charge of Naver Shopping, said, "As COVID-19 prolongs, our society and economic structure are becoming more personalized, non-face-to-face, and digital."