Seoul, South Korea – A recent study conducted by Professor Kang Hyung-gu of Hanyang University's Business School has revealed that Naver Pay's "Return Care" service has significantly contributed to the growth of small and medium-sized enterprises (SMEs). Naver, a leading South Korean internet company, announced the findings on Wednesday.
Return Care, a free return and exchange insurance service, has exceeded 100 million cumulative sales since its launch. The service covers the cost of return and exchange shipping, providing greater peace of mind for both buyers and sellers.
According to the study, products with Return Care applied experienced an average 13.6% increase in sales compared to similar products without the service. When comparing order data from SMEs selling similar products, those enrolled in Return Care saw a 3% to 8% increase in daily payment amounts.
The positive impact was particularly evident in product categories with high return and exchange rates. The "fashion and accessories" category saw the most significant boost in sales at 58.3%, followed by "furniture and interior" at 46.7% and "digital and electronics" at 26.2%.
These findings highlight the effectiveness of Return Care in fostering SME growth and encouraging consumer confidence in online shopping. By eliminating concerns about return and exchange fees, Naver Pay has created a more favorable marketplace for both buyers and sellers.
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