"Hire an AI MD"... Naver Unveils AI Product Display Solution

‘CLOVA Customer Customized Product Recommendation’ Solution in Use

[Asia Economy Reporter Seungjin Lee] On the 28th, Naver unveiled an artificial intelligence (AI) system in its Commerce Solution Market that identifies customers' purchase intentions like a shopping mall MD (Merchandiser) to display and recommend products.

Based on the ‘CLOVA MD’ technology used for automatically generating shopping exhibitions within the Naver Shopping service, appropriate product recommendations and displays are made. SMEs (Small and Medium-sized Enterprises) operating Naver Smart Stores can easily add this solution to their stores through the Commerce Solution Market.

The AI product display solutions provided to Smart Store sellers include: ‘CLOVA Customized Product Recommendation for Customers,’ which analyzes the tastes and interests of customer groups visiting the store to show tailored products; ‘CLOVA Products Recommended for Purchase Together,’ which suggests products that go well with those browsed in the store; and ‘CLOVA Similar Product Recommendation,’ which recommends products similar to the one currently being viewed.

Since the closed beta test (CBT) began on the 16th for some stores, the ‘CLOVA Products Recommended for Purchase Together’ solution showed a click-through rate comparable to when sellers manually selected and registered products in the same category, demonstrating a reduction in sellers’ workload. Moreover, the ‘CLOVA Similar Product Recommendation’ solution recorded a click-through rate approximately 24% higher than when sellers registered products themselves, confirming that the AI product display solution not only assists SMEs in their tasks but can also directly contribute to business growth.

Naver plans to continuously enhance the recommendation functions and provide statistical indicators through the Smart Store Seller Center from the second half of the year, allowing each seller to verify the effectiveness of the AI product display solutions and use them appropriately.

Jung Seok-geun, CEO of Naver CLOVA CIC, stated, “By applying the CLOVA MD solution, whose performance has been verified to the extent of actual use in the Naver Shopping service, to individual Smart Stores, we expect to provide AI-based personalized shopping experiences to customers visiting the stores and create an environment where sellers can focus on tasks such as product development and sales, thereby growing their businesses.”