11st to Help Export Excellent SME Products Worldwide

[Asia Economy Reporter Seungjin Lee] 11st is supporting the global export of small and medium-sized enterprise (SME) products.

On the 20th, 11st announced that it has officially launched the "Domestic and Overseas Platform Linkage Project" service, hosted by the Ministry of SMEs and Startups and the Small and Medium Business Corporation.

11st selects promising products that are popular among overseas consumers from items listed on its reverse direct purchase platform, "Global 11st" (products available for worldwide shipping), and provides free sales page translation services and seller training. These products are then exposed in 11st’s special exhibitions or stores within each platform.

Currently, about 300 products are listed on three platforms: Lazada, Alibaba Group’s Southeast Asian e-commerce platform; Shopee, the largest Southeast Asian e-commerce platform; and Qoo10, a global e-commerce platform.

The main product categories include K-beauty and K-food related cosmetics and processed foods, which are popular overseas. The product range will expand to digital and fashion items, aiming to register between 1,000 and 4,000 products on each platform by the end of the year. Next month, the platforms will also diversify to include Taiwan’s Line platform.

Until now, domestic sellers faced high entry barriers to global shopping mall platforms because they had to create accounts on each platform and go through complicated listing processes, including product translation and registration, which was difficult for SMEs.

However, through this platform linkage project, 11st sellers can now export and sell on various global platforms without cumbersome listing procedures or additional fees. 11st will also support marketing promotions to increase local sales in collaboration with global platforms.

Lee Sang-ho, CEO of 11st, said, “We are actively participating in the non-face-to-face export support project promoted with the Ministry of SMEs and Startups to help SMEs overcome the export sales difficulties caused by COVID-19. We plan to hold a large-scale promotion in November, coinciding with the 11st Festival and Guanggunjie, so that excellent SMEs on 11st can easily achieve online export results.”

This content was produced with the assistance of AI translation services.