11street Malaysia will take advantage of the new partnership
Online marketplace 11street Malaysia is being overhauled following a partnership with PUC Ventures.
The e-commerce retailer says the changes will enhance the user experience and further contribute to the Malaysian digital economy.
The revamp will involve improved payment options and shopper experience; better logistics systems; a new mobile app; an influencer and celebrity store, as well as a platform for micro-influencers and convenient e-voucher sales management for sellers.
The platform aims to offer new advantages to sellers by bringing together overseas buying and selling channels to encourage SME growth.
11street CEO Cheong Chia Chou said: “As everything in our world becomes digitised, 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 partnership was made to expand integration and interoperability across platforms involved in Malaysian e-commerce. A statement released by the firm noted that the Malaysian digital economy has grown exponentially with 15.2 million online shoppers in Malaysia spending an average of RM321.15 (US$78.35) per year.
The e-commerce industry revenue is expected to show a compound annual growth rate of 17.9 per cent over the next four years.