“How much do neighborhood shops make?” ... NAVER Pay puts sales and commercial district trends at a glance

[Financial News] NAVER Pay (Naver Pay) is piloting a service for merchant partners that provides insights into their own stores, local business conditions, and commercial district trends.
According to NAVER Pay on the 29th, the “Naver Pay biz My Store Report” service has launched in beta. Merchant partners with the “Npay Connect” offline all-in-one terminal installed can use analyses based on payment data and other information to check on their own stores and local business conditions and apply those insights to store operations.
The service is available free of charge to food and beverage merchants who use both “Npay Connect” and NAVER’s “Place Plus (place+).” It can be accessed by searching for NAVER’s “My Store Report” or through the Naver Pay biz website.
The service provides information on △sales comparisons △delivery order trends △comparisons with businesses in the same industry △changes in commercial districts.
It displays real-time sales indicators based on Npay Connect terminal data in one-hour intervals, which users can compare with the previous week or the average for the same day of the week. They can check figures not only for their own store but also for their neighborhood, city, county or district, and the country as a whole. In keeping with the food and beverage sector’s active use of delivery, local delivery order figures are also updated every hour.
The service also provides comparisons with stores in the same industry within the same commercial district. Users can compare weekday and weekend payment counts and average spend per transaction with neighborhood averages and figures for the top 10% of stores. They can also compare sales trends by time of day and day of the week, as well as the age and gender makeup of their main customer groups.
Merchant partners can use this information to gauge their stores’ relative competitiveness and develop marketing and promotional strategies tailored to the times when visits are busiest and to their customers’ characteristics. It is expected to be useful for adjusting business hours and planning promotional events, among other things. The service also provides information on changes in the number of stores in the same industry and sales trends.
A NAVER Pay representative said, “This feature enables small business owners using Npay Connect to view how business is going today through quantitative data from various perspectives,” adding, “After the beta period, we will continue to add information that can provide practical help with store operations, reflecting merchants’ feedback.”

[email protected] Kim Tae-il Reporter