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“Short Clips” at NAVER Shopping Live Expected to Help SMEs Scale Up Video Commerce Transformation

- NAVER’s Short Clip service GMV doubled… SMEs accounted for 80% of the short clips and over 50% of short clip-related GMVs
- NAVER will strengthen features for short clip editing, automatic creation, and AI technologies and secure spaces for short clip exposure within Shopping Live Home to enhance the connection between SMEs and users

 

May 12, 2023  

As NAVER Shopping Live strengthens various types of technical support to small and medium enterprises (SMEs) for creating short video clips, its “Short Clip” service is attracting significant interest as a promising growth tool and channel for SMEs. According to NAVER, SMEs account for 80% of the short clips and over 50% of the short clip–related growth merchandise value (GMV), indicating that short clip content centered around SMEs is gaining momentum.
 
NAVER Shopping Live launched a beta of its “Short Clip” service in September last year, allowing businesses to perform sales activities using short videos for up to two minutes. In the first quarter of this year, the number of short video clips and participating sellers increased by 102% and 119%, respectively, and GMV also doubled.

 

Compared to live shopping, which lasts one hour, short-form video content requires relatively less time, reducing the burden of production and operation on sellers. Buyers can also gain more comprehensive product information and make quick purchase decisions through the short clips and images on the products’ pages. In particular, NAVER provides the relevant tools so sellers can create, edit, and upload their short clips within the service, leading to the high participation of SMEs.
 

Short-form videos that effectively capture the sales points in various categories generate millions to tens of millions of won. A well-crafted and interesting short clip can become content that consistently promotes the product and the store. In the fashion and beauty category, “how-to” content showing styling or makeup tips are popular. For example, short clips by the seller “Yuratime,” which show the items’ fit on various body types, recorded over 5,000 views per video, while the GMVs of the short clips have spiked by 187%. Sellers, such as “Korea Susan” and “BB Susan,” who show close-ups of products or eating shows, experienced growth rates of 318% and 168% in GMVs for short clips last month, demonstrating high conversion rates.
 
NAVER plans to advance features that assist in the easy creation of short clips made by SMEs, as well as exposure of short clips, on the service to expand opportunities to connect SMEs and users.
 
NAVER recently created a dedicated tab for short clips on the Shopping Live service home page and planned to add a feature that automates the creation process of short clips by the end of the month. The new feature will automatically create short clips using the highlights of the live content or keyword-based segments by using CLOVA technology. In addition to extracting highlights and product segments based on vision and AI video editing technologies integrated into NAVER Shopping Live, NAVER will support SMEs in creating short-form video content from high-quality live shows and advance the related technologies to ensure relevant content can be matched with the users’ search intentions.
 
In addition to supporting advanced technologies for SMEs, NAVER Shopping Live is expanding marketing support to encourage anyone to experience Shopping Live and embrace growth opportunities. In the “Blooming Days” campaign, NAVER Shopping Live selects 500 sellers monthly who have conducted at least one live show and provides them with additional exposure for their live content. From April, they increased the campaign’s frequency from monthly to daily and expanded the eligibility criteria for participation from the “Big Power” level to include the “New Bud” level. Currently, over 30% of the sellers participating in “Blooming Days” recorded growth of more than 50% in GMV for live content compared to the previous year.
 
Song Jae-hoon, leader at NAVER Shopping Live, said, “Video content is becoming more important in displaying and selling products, and in particular, short clips are expected to become an essential element in the evolution from live commerce to video commerce. We will continue to provide relevant technical support so that SMEs using NAVER Shopping Live can create short and interesting videos using various advanced technologies incorporating AI and recommendations, gather loyal customers, and enhance sales.”

 

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