Naver 'Dongnae Market Shopping' Transaction Amount Jumps 74 Times

Order Volume Grows 61-Fold... Repeat Customers Account for Over 60%

[Asia Economy Reporter Yuri Choi] Naver’s ‘Neighborhood Market Shopping,’ which opens online sales channels for traditional markets, has grown rapidly in just three years since its launch.

On the 25th, Naver announced that the transaction amount of the ‘Neighborhood Market Shopping’ service has grown about 74 times and the number of orders has increased 61 times since the service was launched.

Naver’s ‘Neighborhood Market Shopping’ is a platform that has driven online sales channels and business expansion for traditional market merchants. Since its launch in January 2019, 170 traditional markets are currently using the ‘Neighborhood Market Shopping’ service.

Users can order fresh ingredients and food sold at local traditional markets online and receive delivery within 2 hours or on the same day. Naver provides the platform free of charge to market merchants, and the operation and delivery are structured in cooperation with startups and local delivery companies.

Naver offers the convenience of browsing neighborhood markets on mobile and paying with Naver Pay. It also expands connections between market merchants and users through various advertising exposures.

As a result, the recent repurchase rate of ‘Neighborhood Market Shopping’ exceeds 60%, steadily increasing regular customers. The participating markets, which were initially concentrated in the Seoul and Gyeonggi areas, have now expanded nationwide, with traditional markets outside the metropolitan area accounting for 40% of the entries.

The first market of ‘Neighborhood Market Shopping,’ Amsa General Market, has surpassed a cumulative transaction amount of 2.3 billion KRW and a cumulative order count of 200,000. ‘Sunsuhan Chan’ at Amsa General Market is also steadily producing digital transformation cases, such as developing online-exclusive products like stews, soups, and fruit lunch boxes that were not sold offline before.

Meanwhile, on the same day, Forest CIC CEO Yoon-sook Lee, who oversees Naver Shopping services, attended the 6th Emergency Economic and Livelihood Meeting hosted by the President at Amsa Market and announced support measures for traditional markets recently damaged by floods. Discounts on goods will be provided during the Chuseok holiday for 13 markets severely affected by the flood damage, and for 4 of these markets, support will be given for producing shopping live broadcasts and promotions on the day of the live broadcast. This is to help normalize market operations as the use of traditional markets increases ahead of the Chuseok holiday.

CEO Lee said, "Since nurturing local commercial districts and creating an online business ecosystem have always been concerns for Naver, we will make further efforts to actively utilize our IT technology and various services for the digital transformation of small and medium-sized enterprises (SMEs)."

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