Naver Temporarily Reduces Fees for Some Shopping Channels... Supporting Small and Medium-Sized Businesses

No Fees for Vertical Channel Commissions for 3 Months

Naver announced on the 2nd that it will reduce commissions for certain vertical channels within Naver Shopping and support online promotions for three months from this month until November 30. This is to help small and medium-sized enterprise (SME) sellers operate their businesses more stably amid the recently contracted e-commerce market environment.

The channels eligible for commission reduction are three places where SME sellers mainly enter: Fashion Town 'Soho & Street', Fashion Town 'Designer', and Naver Pet 'Brand Direct Store'. For three months until the end of November, channel inflow commissions charged when product sales occur through the above channels will be waived.

Naver Shopping is currently supporting SME online sales expansion through the 'Naver Shopping Hot Deal Festival' promotion. About 5,000 smart store seller products from all categories including digital, furniture, living, fashion, beauty, and food are introduced weekly in special exhibitions. Various supports such as exhibition exposure and user marketing will be provided until December.

Naver is striving to create a trustworthy SME business environment by offering the fastest payment settlement in the industry and supporting free exchange and return costs. Since 2020, through the 'Naver Pay Fast Settlement' service, it has helped SME cash flow by settling 100% of payments the day after shipping starts. So far, it has advanced payments exceeding 40 trillion won to about 120,000 SMEs. In addition, it supports the 'Return Care' usage fee for all guaranteed delivery sellers to help provide free exchange and return services without burden, thereby supporting stable business operations for SMEs. Currently, more than 70% of guaranteed delivery operators provide free exchange and return services.

Lee Yoon-sook, head of Naver Shopping Business Division, said, "We have operated various win-win plans that help improve SME sales and market vitality based on technology and platform," adding, "We will support SMEs to continue their businesses stably in the somewhat sluggish recent e-commerce business environment."