11street bets big on Malaysia

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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.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.

11street, a global leading and Korea’s largest optimised online marketplace, recently announced its Malaysian version of online marketplace –‘11street (www.11street.my)’ – which is now open for seller registration.

Its 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 (pic) 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 Investments

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.”

“More than RM35 million 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.

The 11street seller office is now open for registration. Exclusive commercial benefits such as no store fee, 50% 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.

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 more information, please visit http://www.11street.my

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