This blog post is about the following:
- Q&A
- Korea online shopping statistics
- What is Naver Shopping
- Buy from Naver Shopping
- Sell on Naver Shopping
- Live commerce
- Naver Shopping Live
- Further reading
Q&A
Is Naver Shopping available in English?
No, Naver Shopping is not yet available in English.
Does Naver Shopping have an app?
You can use Naver Shopping inside the main Naver app. The “Naver Shopping Live Studio” app is for businesses that sell on Naver Live Shopping.
Does Naver Shopping ship internationally?
No, you need to have an address in Korea to receive the goods.
Korea online shopping statistics
Korea has the third highest online shopping rate in the world (behind Denmark and the USA). Korean online shoppers spend an average of $3,032 (€2,792) each per year. Approximately 96% of Koreans regularly shop online.
One of the main reasons Koreans shop online is boredom, with most purchases being made during daily commutes.
That explains why Korea has the world’s highest mobile online shopping rate of 74%.
Source: https://ecommercedb.com/insights/coupang-koreas-online-marketplace-frontrunner/3158
Coupang is the most popular ecommerce platform in Korea, with Naver second, Gmarket third and Kakao fourth.
According to a survey, Coupang also had the highest average weekly purchase rate of 1.5, with Naver Shopping and 11th Street each 1.01.
The survey also showed that Coupang users spent the most weekly with 49,500 won ($38.6) per person. Naver Shopping was fourth with 44,000 won.
What about demographics? Those in their 40s and 50s make up more than 50% of online shopping mall users in the country. Shoppers in their 20s and 30s took a 33% share.
Source: https://www.kedglobal.com/e-commerce/newsView/ked202406130007
What is Naver Shopping
Naver Shopping is best described as a combination of Amazon and Google Shopping.
- Amazon because many companies sell their products there.
- Google Shopping because it allows you to search for products across most other ecommerce platforms, even including competitors Coupang and Gmarket in the search results.
How many users does Naver Shopping have? According to Statista, there were 70 million in April 2024.
The Naver Shopping website is: https://shopping.naver.com/home (screenshot below).
Naver Shopping homepage
Buy from Naver Shopping
To use Naver Shopping, you first need to have a Naver account. How to sign up for Naver? Check the video below.
- Your phone number can be from any country.
- There are 2 types of Naver accounts, Individual and Group.
- For a Naver Group account, you need a Korean business registration.
- You can use this Naver account also for Mail, Blog, Cafe, ads, etc.
- You need to have an address in Korea to receive the goods.
- There are the following payment methods: credit card, Naver Pay, Samsung Pay, phone number, bank transfer and Easy Account Payment.
Sell on Naver Shopping
Do you want to sell goods or services on Naver Shopping? Then you need a Korean business registration and Korean ecommerce license.
If you have those (and a Korean phone number), you need to open a “Naver Smart Store”: https://sell.smartstore.naver.com/ or an online shop on another platform that also is shown on Naver Shopping. A Naver Smart Store is similar to selling on Amazon.
If you don’t have a Korean business registration, you can also do “live commerce”.
Live commerce
Live commerce is hot in Korea, in June 2024 people bought 96.5 billion won (USD 70 million) worth of goods via live commerce. The most popular categories were “home appliances”, seasonal appliances, kitchen appliances, women’s clothing and health food.
In 2024 Q1 people bought 19 billion won (13.8 million USD) worth of travel products via live commerce. That was a 282% increase compared to the same period last year. The average broadcast transaction amount also increased by 237% during the same period to 59 million won.
The broadcast that ranked first was the “Saipan World Resort“ broadcast on Gmarket on February 15th. It earned a whopping 1.67 billion won in sales and 197,000 views in just one hour.
A live commerce industry insider explained: “Package tours are usually popular among the older generation, but recently, even the younger generation is showing a lot of interest in ‘semi-package’ products. It seems to be popular on live commerce because it saves time and energy needed to gather information and make reservations when preparing for a trip.”
Source: https://www.edaily.co.kr/news/read?newsId=01289046638894168&mediaCodeNo=257&OutLnkChk=Y
Naver Shopping Live
The Naver equivalent of live commerce is “Naver Shopping Live”.
Naver Shopping Live homepage
The most critical factor for success on Naver Shopping Live is the number of views. The higher the number of impressions the better. Because live commerce has become more competitive, even for established brands it is becoming more difficult to get views. Hence the emergence of live commerce marketing. These marketing strategies are especially for increasing the number of impressions for the broadcast.
If your Smart Store reaches a certain level, you can also do live commerce broadcasts.
Further reading:
- How to get a Korean ecommerce registration (통신판매업 신고증)
- What is Naver and how is it useful for business?
- Online shopping – digital marketing in Korea part 4
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