Sellers Leaving Timf Join 11st 'Nest'... Original Cumulative Sales Reach 90 Billion Won

Original Sellers Increased 12 Times Compared to Launch
About 4,700 Sellers and 280,000 Products Sold
July Applicants Up 75% Compared to Q1

11st announced on the 26th that since the launch of the 'Original Seller' program in August last year, the cumulative payment transaction amount has reached 90 billion KRW.

The Original Seller program is a seller growth support program open to any domestic business member who has their own products and brand. 11st supports sellers' business growth by offering benefits such as 'zero (0%) commission fees' until participating sellers reach sales of 10 million KRW.

11st Original Seller 1st Anniversary Promotion Image. [Image provided by 11st]

According to 11st, the payment transaction amount of Original Sellers in the recent six months (February to July) increased more than twice (122%) compared to the previous six months (August 2023 to January 2024). During the same period, the number of products sold also more than doubled (139%). In particular, the payment transaction amount in July alone exceeded 13 billion KRW.

The number of sellers participating in the Original Seller program is also on the rise. Currently, there are about 4,000 active Original Sellers, approximately 12 times the 400 sellers at the time of launch. Especially last month, when the large-scale settlement delay incident occurred at Tmon and Wemakeprice (Timep), the number of sellers applying to participate in the program surged by 75% compared to the average in the first quarter of this year (January to March).

11st is running the 'Original Brand Awards' promotion to celebrate the 1st anniversary of the Original Seller launch until the 1st of next month. This promotion gathers products from the 'Best Original Sellers' who have been popular with customers over the past year and offers them at special prices.

The promotion features 17 best Original Sellers, including ▲Bebejou (kids fashion) ▲Denfps (health functional foods) ▲Oneul-ui Dwaeji (livestock products) ▲Xylocube (sugar-free xylitol candy) ▲Let's Bake (handmade cookie brand), among others.

11st provides a 15% discount coupon (applicable when paying with NH Nonghyup Card, up to 2,000 KRW) and a 10% discount coupon (up to 3,000 KRW) usable on small business sellers' products, one coupon per ID daily, for purchases during the promotion.

They also help increase product exposure for sellers. All 17 sellers selected as 'Best Original Sellers' will receive advertising coupons (valid for 30 days) that allow their products to be displayed at the top of search results. Additionally, a special flag (O.wards award) will be attached next to the product name during the event period to help customers easily recognize the products.

Park Hyun-soo, CBO (Chief Business Officer) of 11st, said, "We have prepared marketing support benefits to cheer on all sellers who trusted 11st and participated in the program over the past year, achieving mutual growth together. 11st will continue to create a safe selling environment for sellers and play a stepping stone role in supporting the growth of K-sellers with originality and potential."

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