NHN Achieves 300 Million Yuan in China’s Guanggunjie Sales... 24% Increase YoY

[Asia Economy Reporter Eunmo Koo] NHN's e-commerce business in China achieved its highest-ever transaction volume during China's largest shopping festival, Singles' Day.

NHN Commerce's subsidiary NHN Acommate announced that this year, during Singles' Day, it achieved a record transaction volume of 315 million yuan through diversifying live commerce channels and conducting various promotions, marking a 24% increase compared to last year's 255 million yuan.

NHN Acommate provides brand sales and operation agency services on Chinese and global online malls. Approximately 100 domestic brands have entered the Chinese online mall through NHN Acommate, and this year, it also expanded into the beauty brand product supply business, laying the foundation to grow as a B2B distribution company.

During this Singles' Day, NHN Acommate diversified its sales broadcast channels beyond Taobao to various live platforms targeting the MZ generation, such as TikTok (Douyin), Kuaishou, and Mogujie. It conducted over 60 live broadcasts with top Chinese influencers like Wei Ya, Li Jiaqi, Xue Li, and Xinba, and additionally ran more than 900 hours of live broadcasts from individual stores, driving sales.

On Taobao, various promotions were held to encourage consumer participation. The start time of Singles' Day was moved up by four hours to attract more consumers, and compared to last year, the criteria for applying discount coupons were lowered and discount rates improved to enable consumers to purchase products without burden. Members subscribed to Taobao's paid membership were also offered benefits such as immediate refunds and free returns.

Lee Yoon-sik, CEO of NHN Acommate, stated, “NHN Acommate is showing remarkable growth in the Chinese market, ranking 9th among Tmall international partners and achieving Gold (5-star) TP status among 903 partners.” He added, “Based on the brand operation agency know-how accumulated by NHN Acommate, we plan to expand our business scope within the Chinese commerce market as a B2B product distributor.”