Naver 'Commerce Solution Market' Grows Together with Startups and Sellers

Naver is leveraging startup technologies in its commerce businesses such as Smart Store. Through this, it plans to create an environment for startup growth and drive increased sales for tenant sellers.

Since this year, Naver has introduced solutions from external developers, including startups, into the ‘Commerce Solution Market.’ Currently, a total of 20 solutions are offered, of which 9 are registered by external developers.

Launched in January last year, the ‘Commerce Solution Market’ is a service that supports all processes necessary for business, from product management to customer management, for Smart Store and Brand Store sellers. It provides various AI technologies to help overcome difficulties encountered while conducting business online.

Currently, 110,000 stores have subscribed to one or more solutions in the ‘Commerce Solution Market.’ Among the most used solutions by sellers are Naver’s AI-powered ‘Products to Buy Together Recommendation’ and ‘Similar Products Recommendation’ solutions. Using these solutions increased the purchase conversion rate by 5% and product click-through rate by over 20% compared to basic product displays, leading to increased sales.

Starting this year, Naver is also showcasing solutions from external technology startups in the ‘Commerce Solution Market.’ This aims to expand growth opportunities for startups and provide sellers with more segmented solutions.

For example, the startup Unidcoms’ ‘Review Exposure AI’ solution helps automatically display positive reviews that increase purchase conversion rates on product detail pages. It applies Naver Clova AI technology to automate all tasks including review analysis, banner design, and updates.

‘Memopan LITE’ by ConnexioH has also received high acclaim, with over 10,000 sellers using the solution within a week of joining the ‘Commerce Solution Market.’ It diagnoses product registration information and suggests improvements optimized for search. ‘Pubple Tax’ by Pubscale Partners helps easily link various reporting materials needed for VAT filing and supports self-reporting.

Naver plans to introduce around 40 external solutions within this year.

A Naver representative said, “Through the Commerce Solution Market, small and medium-sized merchants can expand their businesses using advanced technologies, and technology startups can create new user touchpoints to grow together.”