What is 11Street? 11Street Review

11 Street Korea ranks among the top three most popular e-commerce websites in Korea, and currently operates local platforms in Turkey, Malaysia and Thailand. It is an open banking platform operated by Celcom Planet Sdn. Bhd. Celcom Planet Sdn. Bhd is a joint venture established by Axiata Digital Services Sdn Bhd, SK Planet Ltd and PUC Ventures Sdn Bhd.

About 11Street

11 Street has 22 million sellers, more than 40 million users worldwide, and an annual transaction volume of $6 billion. It is a well-known e-commerce platform under the Korean mobile communication giant SK. It is the platform with the highest share (12%) of Korean e-commerce platforms, and its transaction volume in 2017 was $8.4 billion. 11 Street's consumer group is consumers aged 20 to 40, with a total of 14 million members and an annual growth rate of 19%. On November 11, 2018, the transaction volume reached $120 million, setting a new record for the transaction volume of Korean e-commerce platforms. According to data from Internet survey and consulting company Nielsen KoreanClick, the Korean e-commerce platform 11Street (also known as Korean Street in Korea) ranks among the top three most popular e-commerce websites in Korea, with visits to its PC website, Android application and Android mobile website exceeding 7 million respectively. In terms of mobile applications and PC websites, 11Street is the most popular shopping e-commerce platform for Korean Internet users. In November last year, it still brought in 7.4 million unique visitors, covering 24.1% of Android Internet users in South Korea, ranking second among mobile Internet e-commerce platforms.

11street Advantages

1. 11street's convenient and simple user experience and diverse payment methods are very attractive to users. It is reported that 11street has reached a partnership with 2C2P and Line Pay; in terms of logistics, it is also in talks with Kerry Express and other logistics companies.

2. 11Street Campus provides a place for merchants to learn and communicate. Currently, there are 11Street Campus branches in Thailand, and plans to add 6 more next year, including 4 in Bangkok.

3. 11street believes that Thailand's e-commerce market still has a lot of room for growth. Currently, Thailand's online sales channels only account for 1% of the entire retail market, about 90 billion baht; while in South Korea, this proportion is as high as 15%, worth about 100 billion baht.

How the platform works

How to join

1. Taking the Malaysia site as an example, click on the official website, scroll down to the bottom of the page and find "Be a Seller" to enter the seller registration page:

2. After entering the seller account registration page, select the seller type; related information, including seller information, company details, bank account number (overseas bank account number), company verification documents, etc.; then the platform will conduct email verification:

3. Upload relevant documents and submit them to the platform for review. The platform will notify you of the review results within three days at most. Once passed, the registration is completed.

11street entry requirements and required documents

Entry conditions: Legal and compliant Chinese and overseas companies.

Advantages of entering:

1) Platform fee: 12% for all categories

2) Free of listing fees and store rentals.

Required information:

1) Copy of business license;

2) Bank account certificate;

3) Copy of the legal representative’s passport.

Account opening process description:

1) Provide the materials required for account opening;

2) Submit an account opening application;

3) 11th Street Review;

4) The account will be opened successfully after 7-10 working days.

11street benefits

11street plans to provide sellers with advanced e-commerce training courses to equip existing online sellers. These courses will be provided by 11street experts to guide and assist sellers in improving their online business. The experts will share their rich experience on how to help equip mature sellers to succeed in an advanced e-commerce market like Korea.

In addition, 11street will also launch a comprehensive remote seller's community programme this year, starting with sellers in Penang, Johor and Ipoh. 11street is committed to supporting sellers outside the Klang Valley so that they can share the benefits of being part of the e-commerce community.

In summary, 11street has also performed well in overseas markets. As Malaysian consumer shopping sentiment is expected to continue to rise in the coming quarters, 11street said that its total merchandise transaction growth in Malaysia will reach 70% in 2017. 11street also has a certain exposure in Indonesia and Thailand. The platform aims to achieve 50% growth in Southeast Asia. At the same time, 11street is also working with logistics partners to monitor the entire logistics value chain to help improve logistics efficiency and provide customers with a better logistics experience.

In addition, 11street also cooperates with e-commerce platforms such as WorldFront and UiTOX to provide more overseas products to local consumers, making consumers willing to purchase products online and experience online shopping, thereby promoting the growth of the region's e-commerce market.

Development History

- In February 2010, 11STREET Korean website was launched;

-In October 2012, 11STREET launched its English website, serving overseas regions outside of Korea, providing English language services and global delivery services;

-In December 2015, the Chinese 11STREET service was launched;

-In April 2016, the logistics center in Icheon City, Gyeonggi Province, South Korea was put into operation;

- In September 2017, 11STREET International Comprehensive Station was launched, and the original English and Chinese stations were comprehensively revised and upgraded to provide a comprehensive e-commerce shopping platform for global customers, allowing customers to simultaneously enjoy the massive products, preferential activities and system services of the 11STREET Korean Station;

-In March 2018, we reached a strategic alliance with JD.com.