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11street Malaysia helps 13,000 businesses win 30% online sales boost

AvantiKumar | Jan. 22, 2016
The ecommerce platform said it will increase investment during next four years to strengthen Malaysia's ecommerce ecosystem.

11street 2016  

Photo - 11street CEO Hoseok Kim with 11street's Best Partners and winners for the Top SME, Top Brand and Rising Star category of the Sellers Excellence Award Ceremony.

 

Korean ecommerce platform 11street's Malaysian company has reached a total of 13,000 online sellers and helped sellers win 30 percent more sales during the last six months.

Speaking during the company's inaugural Sellers Awards ceremony in Kuala Lumpur, 11street Malaysia's chief executive officer Hoseok Kim said the initial 11,000 target of sellers has been surpassed by 18 percent.

The company has almost doubled its planned investment from RM35million (US$ 10million) to RM60.4million (US$17million) last year to boost sellers' developments and their business growths, said Kim, adding that said 11street will increase investment during next four years to boost the local ecommerce ecosystem.

"These (initiatives) include the building of the country's first seller education centre and training facility - 'Seller Zone', development programs that focused on imparting knowledge and experiences gained from 11street's business in Korea, as well as marketing programmes and promotions to help sellers better reach out to local shoppers online," he said.

"The extended investment for seller development was worth it as it further reinforced 11street's commitment to equip, empower and nurture sellers to succeed in the e-commerce market," Kim said.

"Since it was launched in Malaysia last year, 11street has been receiving immense support from local shoppers, and have succeeded in achieving a spot among the top 30 websites in Malaysia," he said. "This made it possible for 11street to fulfil shoppers' demands with a wide variety of more than five million product listings, and to serve the ever-growing traffic to 11street."

Kim added that the Sellers Award event was an opportunity to appreciate fourteen sellers for their outstanding performance.

Ecommerce in 2016

In 2016, he added that 11street will offer more advanced ecommerce training courses to equip existing online sellers. These courses will guide and enhance online businesses with experts from 11street through their experiences from grooming mature sellers in advance e-commerce markets such as Korea.  

"Moving forward, 11street is looking to place more importance in bringing existing local online sellers to the next level," Kim said. "While the number of sellers continues to grow, it is more crucial that we further educate and support our current sellers to sustain their businesses online. 11street also plans to increase the investments significantly for sellers training and developmental programmes in the next few years."

"Our commitment to seller development will bring direct positive impact to the growth of e-commerce in the country," he said. "At 11street, we also aim to continue our strategic initiatives with key industry experts such as Multimedia Development Corporation (MDeC) and Google Malaysia to nurture local sellers."

 

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