11street
(www.11street.my),
one of the leading online marketplaces in Malaysia, is seeing a new revolution
that will further enhance the user shopping experience and make significant
contributions to the digital economy in Malaysia. This transformation comes on
the heels of a strategic partnership between 11street and PUC Ventures Sdn Bhd.
This partnership aims to tap into a broader digital world with the ease of integration
and interoperability across platforms that cater to the country’s growing
e-commerce sector.
Over
the years, the Malaysian digital economy has witnessed an exponential growth
with a total of 25 million internet users out of a 32 million total
population. Presently, there are 15.2
million online shoppers in Malaysia who spend an average of RM321.15 annually.
However, the online shopping user penetration rate is expected to rise from
51.4% in 2018 to 63.0% in 2022. To add to that, the e-commerce industry revenue
is expected to show a compound annual growth rate (CAGR 2018 - 2022) of 17.9%, resulting
in a market volume of over a trillion by 2022.
CEO
of 11street, CHEONG Chia Chou said:
“As everything in our world becomes digitalised, there is a need for a stronger
e-commerce ecosystem where a customer’s physical digital journey can be fully
integrated. Businesses are pushed to ride the wave of this rapid industry
expansion to ultimately grow their businesses at a larger scale for better
profitability and presence. The online marketplace in Malaysia can certainly be
expected to grow at a swift speed in the coming years and the revamped 11street
is reiterating our commitment to further contributing to the digital segment in
our future plans.”
Upgrading
the online shopping experience is more pertinent than ever with the growing
user penetration and an internet penetration of 85.7% amongst Malaysians.
11street’s goal is to create a seamless and integrated customer shopping
experience as well as to emphasise business development for their sellers that
will increase their capability and capacity of running their businesses. Some
of 11street’s key focus areas for the near future include:
Payment
Options
As we move towards the cashless payment trend in Malaysia,
more and more users are preferring online transfer and credit or debit cards as
a payment method when shopping online. The revamped 11street will be
implementing a variety of payment options including e-wallet services such as
Boost and Presto that are both seamless and convenient to use.
Shopper
Experience
To better enhance the site experience and address customers’ concerns
in a timely manner, 11street will be rolling out a live chat function with
in-house customer service for shoppers.
Logistics
As with any online business, logistics are a crucial aspect
of ensuring an ecommerce business runs smoothly. 11street aims to help their
sellers enhance their business operations to improve the speed, cost and
quality of their product deliveries.
Mobile
App
11street will be introducing a new user-friendly mobile app with
minimal hassle to make purchases with the growing array of payment options
enabled within the app. The online
marketplace is also looking into setting up an influencer and celebrity store
that comes with product reviews for a holistic shopper experience.
O2O Commerce
11street
will also enable convenient e-voucher sales management for sellers as well as consumer-friendly
and innovative methods of purchasing products online which include QR code
purchases and redemption.
Official Stores
The
online marketplace will also be re-launching official stores with enhanced
features, look and feel to promote authenticity as well as supporting their
sellers with after-sale service to draw in long-term customers.
Micro
Social Influencers
This added feature will boost promotional outcomes and create
an effective promotion and rewards channel for sellers and businesses by
leveraging on the community of micro social influencers.
Global
Trade
11street will support their sellers by taking measures to evolve
into a hub for overseas buying and selling through cross border trade which
will boost SME growth while introducing these sellers to a world of
opportunities.
CHEONG
said: “We are really looking forward to the next phase of our growth and
transformation as it focuses on continuously providing more benefits to both
our customers and sellers. We want our customers to have the best possible
experience when shopping with us and purchasing from highly efficient and
trusted merchants. We are also dedicated to providing support to local sellers
through development programs and upgrades to our system that will make running
their businesses even smoother. This is a significant beginning for us and
we’re excited to explore and push boundaries in e-commerce to better contribute
to our digital economy.”
11street
is kicking off their next phase with the launch of their Sayangi Malaysia campaign that promises exclusive deals and awesome
giveaways from August 6 to September 30.
With the support of brands such as Abbott, Chicco, Dale & Cecil, Dettol,
Mamy Poko, Mead Johnson, Nestle, Samsung, Senheng, Skechers, Super and Watsons,
11street customers can look forward to buy
1 free 1 deals and flash deals
below RM61 on the online marketplace.
Shoppers
also have the benefit of product discounts of up to 88% and free shipping for
all. 11street is also offering customers fantastic holiday and travel deals
that are not to be missed out on. Great time for mouse mommy to shop for baby’s
diaper and milk powder!
Interested
to know more about 11street,
Website : http://www.11street.my/
Facebook : https://www.facebook.com/11street.my/
Instagram : https://www.instagram.com/11streetmy/
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