11st selects 'ALIVE' as this year's keyword... "Securing future growth engines"

Next Year, '11st 2.0' Implementation

2022 11st Year-End Keywords. (Photo by 11st)

[Asia Economy Reporter Lim Chunhan] 11st announced on the 26th that it has selected ‘ALIVE’ as this year’s closing keyword. It signifies a year of standing out with differentiated competitiveness and running energetically.

ALIVE is an acronym derived from the first letters of the English words: A (Assist Sellers), L (Launch New Services), I (International Partnership), V (Video Commerce), and E (Easy shopping).

11st has prepared various seller support programs. To help sellers maintain smooth cash flow, since January this year, the settlement period has been advanced to 100% settlement on the next business day (+1 day) based on courier pickup completion.

They have also consistently introduced differentiated services based on the latest trends. The new service for strengthening delivery, Lotte Mart same-day delivery, now covers all shopping services of major domestic marts. Additionally, they newly opened the Shooting Delivery tab to reinforce next-day delivery services based on direct purchase.

Active global partnerships with companies such as Amazon and Apple have also stood out. The Amazon Global Store has grown both quantitatively and qualitatively through a solid partnership with Amazon. The Apple brand store was also successfully launched, creating collaborative synergy.

Live11 is leading live broadcasting, surpassing 2.4 million viewers for a single broadcast. So far, it has recorded over 470 million views across approximately 3,000 broadcasts. In August, a dedicated live broadcasting studio was opened at 11st’s headquarters, providing an environment to focus more on producing distinctive Live11 broadcasts.

11st aims for ‘effortless shopping,’ where customers need minimal effort at every stage of shopping. To this end, 11st is advancing the commerce tech chain linked from customer analysis to optimal price determination and targeted marketing, based on big data and artificial intelligence (AI).

Next year, 11st plans to fully implement ‘11st 2.0,’ focusing on ▲securing basic commerce competitiveness (delivery, price, product selection), ▲strengthening buyer and seller participation value (new business models, traffic, channel expansion), and ▲creating sustainable new service value.

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