What are the market
potential for e-commerce? Recently 11street 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.
The New Revolution on 11street 11street CEO, CHEONG Chia Chou shared what’s to come on 11street and how the online shopping platform will stand out through their future plans |
Over the years, the
Malaysian digital economy has witnessed 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.
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. It needs ground support equipment leasing for logistics companies to operate smoothly. 11street aims to help their sellers enhance their business operations to improve the speed, cost and quality of their product deliveries.
As with any online business, logistics are a crucial aspect of ensuring an ecommerce business runs smoothly. It needs ground support equipment leasing for logistics companies to operate 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.
11street is kicking
off their next phase with the launch of their Sayangi Malaysia campaign that
promises exclusive deals and awesome giveaways from August 6th to September 30th, 2018.
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.
Visit www.11street.my to find out more.
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