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Expect 400% increase in Malaysian SMBs going online, says 11street

AvantiKumar | March 24, 2015
MDeC and Google to support the launch of the 'Seller Zone' training facility by the Malaysian edition of the South Korean e-commerce platform 11street.

11street seller zone live -Malaysia 

Photo - (From left) Wee Huay Neo, Director of SME Community & Initiative, Multimedia Development Corporation (MDeC); Hoseok Kim, CEO of 11street; and Marc Woo, Industry Head of eCommerce, Google Malaysia.

 

South Korean e-commerce platform 11street, which has just opened its 'Seller Zone' in Kuala Lumpur, is expected to fuel a 400 percent increase of Malaysian small and medium businesses (SMBs) going online when it is fully launched in April 2015.

The Seller Zone is first e-commerce education and support facility in Malaysia, according to 11street chief executive officer Hoseok Kim, speaking during the launch in Kuala Lumpur.

Kim said that Malaysia's national ICT agency Multimedia Development Corporation (MDeC) and Internet giant Google will work with 11street to organise training and development programmes as part of Digital Malaysia's drive to speed up e-commerce adoption by Malaysian SMBs.

"In Malaysia, the population of small and medium business (SMB) doing online business is forecasted to grow by 400 percent, which suggests that at least a quarter (25 percent) of the existing SMBs will venture into online business activities within the next 10 years, from the current base of a mere 5 percent," he said.

"The rapidly increasing population of online SMBs is coherent with the e-commerce economy that is growing at a compound annual growth rate (CAGR) of 32 percent," said Kim. "Education will be the most crucial element to nurture the triple digit healthy growth of the SMB e-commerce ecosystem."

"Building Seller Zone in Malaysia is a most natural progression as we can deliver and transfer our knowledge, expertise and know-how to help local SMBs go online effectively," he said.

 Menara Nu

Occupying 9,500 sq ft, The Seller Zone, based at 11street's office in Menara Nu, KL Sentral, has professional photography studios, training centres, and a public lounge for networking, relaxation and refreshment.

"The key differentiator of 11street is the vast experience and know-how that the company has gained through many years of global e-commerce ventures, which can help support local online sellers," said Kim. "Every online seller will walk away from any training session held at 11street's Seller Zone with the knowledge needed to create a positive impact onto their businesses. MDeC and Google Malaysia are in full support of 11street's online business training and development programmes."

MDeC director eCommerce Division, Wee Huay Neo, said, "MDeC supports of 11Street's online business training and development programmes for local SMBs. We expect the Malaysian e-commerce industry, helped by a platform like this."

Google Malaysia's industry head for eCommerce, Marc Woo, agreed. "We are supportive of 11street's Seller Zone, which encourages SMBs to harness the power of the Internet. We look forward to help these Malaysian SMBs get more familiar with our digital marketing tools such as Google AdWords and Google Analytics."

"Online business coaching workshops, training and development courses will be conducted at least twice a day with a maximum of 20 pax per session," added 11street's Kim.  "These free courses don't just educate, but also share how online sellers can better integrate their businesses onto 11street's platform. In the later part of 2015, we will set up satellite Seller Zones in remote areas on a demand basis."

Established in Korea in 2008, 11street, which also has presence in Turkey and Indonesia, lists 22 million sellers serving more than 40 million consumers worldwide with annual gross merchandise value of RM19.8 [US$5.1] billion.

 

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