11street launched in Thailand

Ads for 11street are put on a metro station in Bangkok, Thailand, in this file photo. / Courtesy of SK Planet

By Park Jae-hyuk

SK Planet has launched 11street in Thailand, becoming Korea’s first business to open an online marketplace in the Southeast Asian country, the company said Thursday.

Korean actor Song Joong-ki and Thai actress Mew Nittha ― the two official models of the e-commerce platform ― attended the opening ceremony held on the same day at Central World in Bangkok.

Korea’s leading e-commerce firm has put ads up at busy streets in Siam and Phrom Phong, and plans to broadcast TV commercials there as well.

Thailand is the fourth overseas market where the SK Telecom unit has opened its online mall. The platform debuted in Turkey in 2013 as n11, in Indonesia in 2014 as elevenia, and in Malaysia in 2015 as 11street.

The latest opening in Thailand gives SK Planet the opportunity to operate in three major Southeast Asian nations, helping the firm expand its presence in the region populated by 600 million people.

The Seoul-based company plans to introduce its unique mobile shopping environment, which is so far unprecedented for the local market.

Based on its accumulated experience running 11st in Korea, 11Street Thailand will offer millions of trendy high-quality products at competitive prices. The firm will also provide a 360-degree view of products for consumers to check the goods through their mobile devices.

In addition, SK Planet will offer offices and photo studios in Bangkok to support 9,000 local sellers. Through such efforts, the outfit aims to beat its competitors, such as Lazada, iTrueMart and WeLove Shopping.

“11Street will be a leading e-commerce firm that promotes the Korean wave in retail industry,” 11Street Thailand CEO Jeon Hong-cheol said. “We expect our entrance to Thailand will stimulate Korean manufacturers and ICT firms to make their presence felt in Southeast Asian markets.”

The size of the e-commerce market in Thailand which is populated by 68 million people is projected to more than double from $1.5 billion in 2016 to $4 billion in 2020. Plus, mobile shopping will likely occupy 45 percent of the country’s e-commerce market in 2020.

Last year, SK Planet topped in Turkey’s e-commerce market in terms of sales. The total turnover of the company’s three overseas platforms grew by 72.5 percent year-on-year in 2016.