WEMAKEPRICE O, Seoul Store Count Triples... Effect of Local Government Cooperation
New Customers and Transaction Amounts Increase by 159% and 114%, Respectively
[Asia Economy Reporter Kim Cheol-hyun] Wemakeprice O announced on the 15th that the number of stores registered in the Seoul area tripled compared to the same period last year, just three months after participating in the Seoul Zero Delivery Union. This is attributed to the effect of lowering the flat-rate commission fee from 5% to 2% simultaneously with joining the Zero Delivery Union in December last year.
As the number of registered stores increased, the number of ordering customers naturally grew as well. Over the past three months, the total number of Wemakeprice O registered customers increased by 159% compared to the same period last year. The ability to pay for orders using the Seoul Love Gift Certificate after joining the Zero Delivery Union also seems to have received positive responses from customers in the Seoul area. The transaction amount of stores located in Seoul more than doubled (114%).
The burden of delivery order commissions has significantly decreased. Over the past three months, the actual commission borne by store owners in the Seoul area registered on Wemakeprice O was around 1%. This reduction in burden was possible because store owners could choose the more advantageous model between the existing 0% brokerage fee (with a monthly server fee of 38,000 KRW) and the 2% flat-rate brokerage fee per order, depending on their sales.
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Wemakeprice O plans to soon conduct a pilot service for the Gwangju-type public delivery app. Aiming to open next month, Wemakeprice O will be responsible for app development and overall operation. The 2% brokerage fee model without membership or advertising fees will also allow the use of the Gwangju Metropolitan City local currency. Ha Jae-wook, CEO of Wemakeprice O, said, "We are prioritizing coexistence with small business owners to create a virtuous cycle structure," and added, "We plan to quickly expand cooperation with various local governments to reduce the commission burden for more small business owners."
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