Wemakeprice, 33% Increase in New Partners Just 10 Days After Implementing '2.9% Commission'

Full-scale Introduction of Industry's Lowest 2.9% Flat-rate Commission Last Month
Number of New Partner Companies Increased Sharply by 33.2% in the Last 10 Days

[Asia Economy Reporter Kim Cheol-hyun] Wemakeprice's 2.9% flat-rate commission policy, officially implemented on the 21st of last month, is receiving positive responses from online sellers. Wemakeprice announced on the 6th that the number of new partners participating within 10 days after the announcement of the portal-style commission policy increased by 33.2% compared to the same period last year. The total number of partners also grew by 22.2% year-on-year.

Last month, Wemakeprice officially introduced a flat-rate commission for its portal-based shopping platform. The previous open market method of differentiated commissions per product was abolished, and a 2.9% commission was applied. In particular, by operating the 2.9% commission rate?which is one-fifth of the industry average commission rate (13.6%)?as Wemakeprice's unique commission model rather than a temporary promotion, sellers' positive responses have continued.

Lee Geon, CEO of Digilog, which sells pet supplies, said, "Starting with Wemakeprice, the e-commerce industry is competing to introduce policies for sellers, spreading the awareness that sellers are important customers of the platform." He added, "We expect to have more capacity to focus on product sales by enhancing price competitiveness or strengthening marketing."

Wemakeprice plans to continuously advance its seller platform so that newly participating sellers can more easily utilize the Wemakeprice platform as a marketing tool. Within this month, they plan to launch a partner-exclusive app that includes essential functions for partners such as order and delivery confirmation and 'Seller Talk,' which allows direct communication with customers.

A Wemakeprice official said, "The new commission policy is part of the evolution into a shopping platform, and we will focus on establishing a long-term virtuous cycle without being obsessed with short-term results."