KUALA LUMPUR, 11 February 2015 (Wed): 11street, a global leading and Korea’s largest optimised online marketplace, has announced its Malaysian version of online marketplace –‘11street’, is now open for seller registration.
11street’s chief executive officer in Malaysia, Hoseok Kim says that the Malaysian version of 11street is scheduled to be launched to consumers in April 2015 – In line with the company’s pursuit to become the largest and No.1 online marketplace in the country.
Established in Korea since 2008, 11street is one of the top global e-commerce marketplaces with presence in Turkey and Indonesia. As of today, 11street has a staggering number of 22 million sellers serving over 40 million consumers worldwide with annual gross merchandise value of USD6 billion (~RM19.8 billion).
Kim says, “The online shopping paradise 11street in Malaysia is the company’s commitment to deliver local consumers a trustable and convenient e-commerce platform where they can shop for a variety of products across a broad range of categories available at anytime, anywhere.”
“To deliver greater satisfaction and a more rewarding online shopping experience, it will be the first online marketplace in Malaysia that promotes not only physical products but also deal offerings such as e-vouchers under a single platform.”
Significant Investment to Drive Sellers’ Participation
Kim further shares that the company is set to make significant effort and investment to encourage Malaysian sellers including the brick and mortar businesses boarding onto 11street.
“We wish to foster continued e-commerce growth and elevate the maturity of the industry by empowering more local offline businesses particularly SMBs to break-through the traditional business model and explore the numerous ecommerce opportunities in the online space.”
He adds, “More than 35million Malaysian Ringgit (USD 10million) will be invested this year in various seller development programs, marketing and promotions to bring local sellers on-board and at the same time, to attract buyers to visit 11street in order to accelerate our online sellers’ reach to consumers.”
“Nonetheless, the total investment to drive sellers’ participation will increase especially when the number of sellers register to 11street exceeds our expectation.”
“11street plans to invite at least 11,000 sellers on-board by 2015 to ensure the delivery of an enriched shopping experience packed with a diverse range of products and services.” Kim says.
Proven Merchandising Approach to Ensure E-commerce Success
Kim adds, “Unlike other existing e-commerce websites, 11street has a hybrid e-commerce model whereby its ecosystem can support all types of sellers, including individual sellers, e-entrepreneurs, SMBs, retailers and service providers.”
“Bolstered with expertise and know-hows gained through its worldwide ventures, 11street can empower the online sellers as well as traditional brick and mortar businesses to maximise sales and succeed in e-commerce. – which in turn will accelerate Malaysia’s online shopping market growth.” he explains.
Kim continues, “11street is equipped with unique and sophisticated online merchandizing tools to support the complete online business set-up. Our ‘Seller Zone’ will be the first e-commerce education centre and support facility in Malaysia to advocate e-commerce sellers, where e-commerce seminars and workshops will be given on a regular basis. ‘Seller Zone’ is among the most significant investments that 11street has put in to grow the Malaysia’s e-commerce sector.”
“In response to the mobility trends, we will also offer an integrated mobile interface and application upon 11 street’s official launch to support sellers in better managing their stocks, product marketing programs, payment settlements; and offer the analytics capability to help them retain customers with improved online shopping experience.”
11street (www.11street.my) Opens for Seller Registration
The 11street seller office is now open for registration. Exclusive commercial benefits such as no store fee, 50 per cent discount on transaction fee, complimentary use of Seller Zone facilities, promotion credits and product listing coupons, will be given as part of the early-bird promotion package for new sellers who register before April 2015.
Other enticing perks including 11street shopping credits, petrol vouchers and movie vouchers will be offered to new sellers with specified terms and conditions in addition to the abovementioned benefits.
Kim ends, “11street’s merchandising approach has a proven track record given that its worldwide ventures have grown remarkably well over the past few years. Against such backdrop, similar approach will be adopted to help Malaysian online sellers to excel in today’s increasingly competitive e-commerce market.”
For seller registration/signup, please visit http://www.11street.my.