Naver's introduction of a free return and exchange policy has resulted in a significant increase in overall transaction volume over a period of three months.
According to Naver on the 29th, the average transaction volume of sellers who received support during the three months after the rebranding of 'Naver Delivery Guarantee' to 'Naver Delivery (N Delivery)' in March, implementing the free return and exchange policy, increased by about 20% compared to December of last year before the policy was enacted.
By category, it is reported that the growth in transaction volume is particularly evident in product groups such as sports and leisure, fashion goods, and digital appliances, where returns and exchanges are relatively frequent.
Ahead of its full-scale entry into e-commerce, Naver previously implemented N Delivery, a segmented delivery service including same-day, next-day, Sunday, and scheduled deliveries. Members of the Naver Plus Store membership program can receive free shipping on purchases over 10,000 won, and they can also have free returns and exchanges.
To encourage broader participation from sellers, Naver is also running a program to directly support the expenses associated with returns and exchanges resulting from the increase in return requests due to the implementation of free return shipping and membership.
The company noted that free returns and exchanges positively impact the increase in transaction volume, and the number of sellers utilizing the free return and exchange support program is also on the rise. In fact, the number of sellers benefiting from the program increased by 50% in the past two months, according to Naver.
Naver's N Delivery project leader, Lee Jumi, said, 'The free return and exchange policy implemented by Naver not only enhances user convenience but also supports the growth of sellers' businesses' and noted, 'We will continue to strengthen this virtuous cycle.'