WEMAKEPRICE, 47,000 Small Business Vendors Joined in One Year

New Partner Support Program Serves as an Online Gateway for Small Business Owners

[Asia Economy Reporter Kim Cheol-hyun] Wemakeprice announced on the 3rd that the number of new partner companies that joined within one year after the implementation of the 'New Partner Support Program' (hereinafter referred to as the Support Program) has exceeded 47,000. This means about 24 companies joined per hour (based on a 40-hour workweek, 5 days a week), or about 192 companies per day. Among them, 1,700 companies achieved monthly sales of over 10 million KRW. The number of companies achieving over 100 million KRW in monthly sales reached 200.

Since November last year, Wemakeprice has been providing benefits through the Support Program such as ▲0% sales commission (including 4% VAT on payment processing fees) ▲weekly settlement ▲waiver of server fees (99,000 KRW per month). In particular, the low commission and fast settlement benefits have been evaluated as practical help for small and medium-sized partners to smoothly maintain their business and supply products.

Additionally, Wemakeprice supports new partners' entry into the online market by providing conveniences such as establishing a dedicated consultation window for store entry and partnerships, and upgrading the product registration platform. Bang Jin-yi, CEO of MAY, a women's clothing brand that joined in April this year and received benefits from the Support Program, said, "When we started online sales on Wemakeprice, the Support Program was a great help in stabilizing the early stages of our business." She added, "Thanks to the weekly settlement benefit, we were able to smoothly supply products even when receiving many orders every week, and as a result, we achieved a cumulative transaction amount of 1.1 billion KRW within a short period of six months."

A detailed analysis of partner data who received benefits from the Support Program over one year showed that the 'Food/Health' category had the most partner companies joining. This was followed by the 'Miscellaneous Goods', 'Living/Kitchen', 'Clothing/SOHO', and 'Furniture/Home/Deco' categories. It is interpreted that due to the increase in online food purchases and growing interest in health products caused by COVID-19, the number of new partner companies in these categories also increased. Regarding regional distribution, the 'Gyeonggi' area had the highest number of new partner companies. Along with Seoul, Incheon, Busan, Daegu, and Gyeongnam ranked high, indicating that partners from various regions equally received support benefits.

A Wemakeprice official said, "Over the past year, we have established a structure to succeed together with our partners through the Support Program." He added, "Thanks to the enthusiastic response from partners, we have extended the application period for the Support Program. We will further strengthen our position as the platform that both consumers and partners turn to first in the online market."

This content was produced with the assistance of AI translation services.