Naver Plus Store, Purchase Frequency Doubles Compared to Naver App... "Establishing Commerce Based on Regular Customers"

[Financial News] Naver's AI (Artificial Intelligence) recommended shopping service 'Naver Plus Store' is gathering regular users, increasing user retention. Retention refers to the number of users who continuously use an app over a certain period. It is an important indicator of user engagement, interest, and loyalty. 
■ Loyal Customers, Increased Retention
According to Naver on the 16th, as of last June, the average daily purchase frequency and conversion rate per visitor of the Naver Plus Store app were more than double compared to the recommended shopping and price comparison services within the existing Naver app. The proportion of shopping transaction amounts by Naver Plus membership users was also 30% higher in the Neples app than in the Naver app.
This is because the more frequently the app is used, the more sophisticated the AI-based personalized recommendations become, increasing the likelihood of users discovering products and stores that match their preferences. AI tools such as the AI shopping guide and discovery tab applied to the Neples app also attract users' interest by adding fun to shopping.
Launched last March, the Naver Plus Store app is designed for users with high retention following Naver Membership. Naver emphasized that the discovery of preferences based on AI leads to repeat purchases and subscriptions, accumulating examples of personalized AI shopping experiences, and establishing an AI shopping ecosystem centered on Neples.
■ Increase in Sellers Introducing Subscriptions, Growth in Transaction Amounts
The discovery and connection of preferences through AI shopping are leading to repeat purchases and subscriptions, adding vitality to the entire Neples AI shopping ecosystem.
From October last year to June, about eight months after the Naver Plus Store first started, sellers who introduced subscription solutions increased by 52% compared to the same period last year, with 18% more buyers using subscriptions, and related transaction amounts also increased by 26%.
Naver stated, "Through AI, we recommend products and stores that match users' preferences well, and as users' regular repeat purchases are activated, more sellers are gathering regular users." The specialty coffee brand 'Momos Coffee' joined the Naver Plus Store and introduced a subscription solution last October, resulting in a 29% increase in average monthly subscription transaction amounts and a 31% increase in subscription counts per month. The transaction amount as of June was more than 5.8 times higher than last October.
The premium water brand 'Dr. Coa' has seen subscription applications increase nearly sixfold compared to the same period last year by offering benefits such as priority delivery or price discounts to subscribers. 
Naver plans to focus on activating regular transactions and investing in technology and marketing centered on users with high retention. In August, the 'AI Shopping Guide' will expand the shopping query categories provided to include preference product categories such as golf, hiking, and camping, in addition to digital and home appliances.
Naver CEO Choi Soo-yeon said, "Signals are being confirmed that commerce based on regular customers is being established around the Naver Plus Store. Especially since the app was launched, many users are experiencing AI recommended shopping and trying it out in various ways," adding, "At this stage, we will further enhance promotions and marketing strategies to increase the retention of regular users and focus on technology investment." 



yjjoe@fnnews.com Yoonju Cho Reporter