[Pangyo Tech] NHN’s Singles’ Day Turnover Surpassed 58 billion won

NHN’s e-commerce business in China marked the historic turnover during Singles’ Day, the largest online shopping festival of China.

The NHN’s affiliate, NHN Accommate announced on November 18th that its turnover for this year’s Singles’ Day marked 315 million Chinese yuan which is the highest in the company’s history up 24% from last year’s figure of 255 million Chinese yuan.

The company’s diversified live-commerce channels led to the record. NHN Accommate capitalized on diverse sales channels including a short-video platform TikTok (Douyin), Kuaishou (a shot-clip platform) and Mogujie (an e-commerce platform) during this year’s multi-day extravaganza.

NHN announced, “NHN Accommate saw the significant turnover based on diversified live-commerce channels and various promotion programs.” The company added, “The sales was boosted by over 60 rounds of live broadcast promotions with some of the most popular influencers in China such as Viya, Austin Li, Cherie, Xinba; and more than 900 hours of promotional streaming events of each store.”

NHN Accommate CEO Lee, Yoon-shick said, “Tmall has 903 global partners and we are a gold-grade TP. We are in the 9th place at the ranking of Tmall’s innovative global partner list. As such, we’ve recorded a significant growth in China.” He added, “We’re planned to expand our business area as a B2B products distributor in Chinese commerce market by leveraging on the accumulated know-hows of brand management.”

Meanwhile, Singles’ Day is the largest online shopping festival in China where most of the Chinese online shopping malls including TaoBao participate. The scale of the event is almost that of Black Friday, the largest shopping season in the U.S.

Source: Pangyo Techno Valley Official Newsroom