11street Malaysia will take advantage of the new partnership
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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.
Questions & Answers
Q.What specific improvements can users expect from the 11street Malaysia overhaul?
What specific improvements can users expect from the 11street Malaysia overhaul?
Users can expect improved payment options, a better shopper experience, and a new mobile app. The platform will also feature an influencer and celebrity store, plus a system for managing e-voucher sales for sellers.
Q.How will the new partnership with PUC Ventures benefit sellers on 11street Malaysia?
How will the new partnership with PUC Ventures benefit sellers on 11street Malaysia?
Sellers will gain new advantages by accessing combined overseas buying and selling channels. This initiative is designed to foster the growth of small and medium-sized enterprises within the e-commerce ecosystem.
Q.What is the current state of e-commerce in Malaysia according to the article?
What is the current state of e-commerce in Malaysia according to the article?
Malaysia has 15.2 million online shoppers, each spending an average of RM321.15 annually. The e-commerce industry revenue is projected to grow significantly, with a compound annual growth rate of 17.9 per cent over the next four years.
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