11street Identifies Evolution in Malaysian Online Shopping Trends
11street (www.11street.my), one of the largest online marketplaces in Malaysia, today showcases its Online Shopping Index, which identified the latest changes in online shopping behaviours of local consumers, as well as specific e-commerce insights during the four-week Ramadhan and Raya period from 22 June to 19 July.
In addition, online marketplace 11street shares that its gross merchandise value (GMV) has surged significantly because of the Raya shopping season. The company has also celebrated notable milestones, one of which is achieving a rank of 40 on Alexa within months since its launch in April this year.
Hoseok Kim, CEO of 11street says that based on the 11street Online Shopping Index, the market is expecting to see online shopping trends evolving for both men and women in addition to a rapidly growing use of mobile in the future.
“Malaysia is one of the top leading countries in the world when it comes to smartphone Internet access with the number of connected devices per person used by Malaysians which stood at 1.2 devices. As online shopping becomes part of the Malaysian lifestyle, smartphones will play a vital role in enabling shoppers to grab good products and offers online at anytime, anywhere,” Kim adds.
Key findings of the 11street Online Shopping Index include the following:-
More Diverse Online Purchase
Contradicting to the popular belief that Fashion and Electronics are the most sought after categories, Malaysians shop in diverse categories including Health & Beauty, Kids & Baby, Home & Living, Grocery, Services such as e-vouchers and many more. Also, according to the index, popular items that customers mostly searched during Ramadhan include baby car seats, Tupperware, Bluetooth earphone, and skincare.
Furthermore, the 11street Online Shopping Index uncovers that customers actually bought from either two or more product categories within a single transaction and it is expected to increase over the next few years.
Online Shopping is No Longer Just for Women
The data shows that women are no longer the only gender that drives purchasing trends when it comes to online shopping, whereby 11street shoppers are a healthy ratio of 48 men: 52 women.
For women, they mostly purchased mobile, tablets, beauty, health and personal products as well as baby and kids items. The changing trends revealed that men shopped online just as much as women. During Ramadhan, their interests lie not only in Electronics, Sports and Leisure items, but also for Kids & Baby items especially baby gears such as baby car seats for their children’s comfort and safety. This also shows that both men and women prioritize their children when travelling during the festive season, which is a positive sign of rising awareness on child passenger safety across the country.
Mobile is the Future of E-commerce
There is a progressive move towards mobile as more consumers are becoming connected, and businesses are adopting an omni-channel approach and as a result, spurs positive growth in Malaysia’s e-commerce market.
According to the index, at least 40 percent of the shoppers are using their mobile devices to shop at 11street. Moreover, during Ramadhan, peak shopping hours began from the breaking fast period until midnight.
Business Overview and Moving forward
11street has grown tremendously in Malaysia and received overwhelming response from both local customers and sellers since its inception. Besides its achievement on Alexa rank, it currently carries more than 700,000 products making it one of the largest online marketplaces in Malaysia.
Kim attributed the growing popularity of 11street to its ability of providing a convenient and enjoyable shopping experience and attractive product offerings at affordable prices. This is especially true for their much highlighted ‘SHOCKING DEALS’, which guarantee shoppers that if they can locate the same product selling at a cheaper price in another online shopping site, 11street will refund them with the price difference of the product at 110%. It is possibly the first of its kind deal in the local online retail market.
Moving forward, 11street will be developing a combined strategy with focus to continue boost its product variety and price competitiveness while focusing on mobile shopping.
“With the latest Malaysian online shopping insights in mind, we are committed to support the vital needs of sellers and online shoppers by building a stronger platform, and to enable customers to find what they love at 11street,” ends Kim.
About 11street (www.11street.my)
11street is a trustworthy and convenient online marketplace that offers a great variety of products at competitive prices. It strives to revolutionise today’s consumers’ online shopping experience by making it more personalised and engaging. 11street has a diverse selection of product categories which are tagged on Fashion, Electronics, Groceries, Health & Beauty, Kids & Baby, Leisure & Sports, Home & Living and Books & Services including deal offerings like E-vouchers. 11street is also an optimised marketplace where its merchandising ecosystem, education and training programs can fully support sellers regardless of the size of their businesses. Established in Korea since 2008, 11street is now one of the top global e-commerce marketplace providers with 400,000 sellers serving over 30 million consumers worldwide. 11street also has a presence in Turkey and Indonesia, known as n11 and elevenia, respectively. For more information, please visit www.11street.my