Live commerce which is basically TV home shopping content converted into online and mobile platforms has garnered popularity in South Korea due to a COVID-19 pandemic. Sellers and customers prefer live commerce services as they can communicate and interact during shopping shows using chat features.
According to data released by ecommerce companies, the live commerce market is expected to soar from three trillion won ($2.6 billion) in 2020 to 10 trillion won in 2023. Many retail companies including Shinsegae and SPC Group with conventional offline and online stores have joined the race to secure a share in the live commerce market with their own online shopping show services.
Naver said in a statement on April 2 that its mobile live commerce platform has adopted "Real-Time Mode" for smooth interaction and communication between sellers and customers. The video quality of shopping shows will be improved by up to 40 percent so that customers can pinch-to-zoom into products and magnify the screen by up to four times for the close examination of designs and features.
"We will continue to invest into the development of related technologies so that sellers can operate shows more efficiently and customers buy products conveniently while enjoying content," Naver's live commerce division head Cho Sung-taek was quoted as saying.
© Aju Business Daily & www.ajunews.com Copyright: All materials on this site may not be reproduced, distributed, transmitted, displayed, published or broadcast without the authorization from the Aju News Corporation.