Saturday, November 27

NHN Increases E-commerce Transaction Volume by 24% YoY During China’s Singles Day | Ruri Web

[기사 본문]

– Achieved the highest transaction amount of 300 million yuan in China’s Singles Day, equivalent to ‘BLACK’… 24% increase over last year

– Live commerce broadcast with TOP Wang Hong… Drive sales by diversifying channels targeting the MZ generation, such as TikTok

NHN’s e-commerce business in China achieved the highest transaction amount ever at the Grand Gun Festival, China’s largest shopping festival.

NHN Acommate, a subsidiary of NHN Commerce, provides brand sales and operation agency services in China and global online malls. About 100 domestic brands have entered the Chinese online mall through NHN Accomate, and this year, they also developed a beauty brand product supply business, laying the groundwork for growth as a B2B distribution company.

Held on November 11 every year, the Grand Gun’s Festival is China’s largest online shopping festival, attended by most online shopping malls, including Taobao. At this year’s Singles Day, NHN Accommate achieved an all-time high of 315 million yuan in sales through channel diversification of live commerce and various promotions, a 24% increase from last year’s 255 million yuan.

In addition to Taobao, NHN Accommate diversified its channels to various live platforms such as TikTok (Douin), Kwaishou, and Mogujie, a video platform targeting the MZ generation, in addition to Taobao at this time of the Single Gun Festival, and broadcast sales. We conducted more than 60 live broadcasts with China’s top influencers Wang Hong (influencer) such as Weiya, Li Jiaqi, Sherry, and Shinba, and each store’s own live broadcasts were also conducted for more than 900 hours to drive sales.

Taobao conducted various promotions to engage more consumers. By advancing the start time of the Day of Kings Day by 4 hours, more consumers were encouraged to participate, and the discount coupon application criteria were lowered compared to last year and the discount rate was improved so that consumers can purchase products without burden. Members who signed up for a paid Taobao membership also provided benefits such as immediate refunds and free returns.

Yoon-sik Lee, CEO of NHN Accomate, said, “NHN Accomate is a gold (5-star) grade TP among 903 Tmall international partners, and is showing remarkable growth in the Chinese market, such as ranking 9th in the Tmall partner ranking for pioneering new international products.” “Based on the brand management agency know-how accumulated by NHN Accommate, we plan to expand our business in the Chinese commerce market as a B2B product distributor,” he said.

Meanwhile, NHN Commerce is developing an online shopping mall solution business, and is laying the groundwork for a global commerce platform company that encompasses the entire commerce business by establishing a Korea-China-Japan commerce highway with NHN Commerce Japan of Japan and NHN Acommate of China. Based on its high understanding of the Chinese market, NHN Accommate is operating its own purchasing agency platform and specialized malls by category, as well as supporting the business of Korean brands entering China through major Chinese e-commerce platforms such as Alibaba.

By Lee Myung-gyu, staff reporter [email protected]

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