SK planet’s latest official press releases
- Becomes the largest online retailer in turkey as measured by 2015 annual GMV, surpassing global e-commerce giant eBay and a leading Turkish online retailer with 15 years of track record in the market
-Ranks No.1 in customer satisfaction by transferring operational know-how of 11st to n11.com through localization strategies, while driving a paradigm shift in Turkey’s logistics market with its an innovative business model that involves joining hands with local delivery companies
Seoul, Korea, March 28, 2016—SK Planet today announced that its online marketplacebecame the first in Korea to take over the No.1 spot in turkey’s e-commerce market in terms of annual Gross Merchandise Volume (GMV). The milestone was achieved in just three years after entering the Turkish market.
SK Planet joined hands withDo?u? Group to establishDo?u? Planet, a joint venture company that specializes in e-commerce, and launched the online marketplace n11.com (numaraonbir, www.n11.com) in March 2013.
The name ‘numaraonbir’ stands for n11. In Turkish, ‘Numara’ represents ‘number’ and ‘Onbir’ means ‘11’.
After hitting the largest monthly GMV in the Turkish marketin just 18 months after launch in October 2014, n11.com has yet achieved another milestone of becoming the No.1 online marketplace in the country with annual GMV reaching USD 485 million last year.
SK Planet has differentiated n11.com from rivals through several localization strategies. SK Planet’s n11.com focused on establishing a mutually beneficial e-commerce ecosystem that is a win-win proposition for all those involved — the marketplace operator, participating merchants, as well as customers. Thecompetitors in the market includethe global
e-commerce giant eBay (GittiGidiyor) which made early entry into the market and the leading Turkish online retailer (Hepsiburada)that has 15 years of track record in the Turkish online retail market.
With the aim to offerservices optimized for the Turkish market, SK Planet has put great efforts into localization by utilizing its extensive operational know-how and e-commerce platform technologies. In addition, Turkey’s e-commerce market is rich with growth potential thanks to its high internet penetration rate and high percentage of youngpopulation.
Taking a long-term view, SK Planet has offered a wide range of seller support programs aimed at increasing their competitiveness and sales, as part of its efforts to build a strong e-commerce ecosystem.Seller Zone n11.com Studio was one of SK Planet’s such efforts that differentiated itself from its rivals. The wide range of support services offered at n11.com Studio includes consultations for sellers and free photo shoots of products.
Taking into account the vast size of Turkey’s territory, n11.com also opened regional offices in major Turkish cities such as Ankara and Izmir to support partnering merchants, while forming partnerships with six distribution companies to allow low-cost shipping throughout the country, without limits to shipping destinations. The fresh, new business modelis acknowledged as a successful project* that is driving a paradigm shift in Turkey’s logistics market.
*The project has been recognized with the Most Efficient/Effective Project Award at the International Supply Chain Summit Istanbul 2015
Moreover, for the first time in the Turkey’s online marketplace industry, n11.com operates a 24-hour customer service centerto provide quality and timely services. It also offers diverse coupon services and customer rewards programs with an aimto deliver a new shopping experience built on trust and customer convenience.
“As a latecomer to the industry, we faced fierce competition and lack of infrastructure, but we armed ourselves with entrepreneurial spirit and start-up mindsetsto become the No.1 player in the market,” said Jo Won-yong, CEO of n11.com.
“We will continue our growth momentum by working with a real spirit of partnership, with a win-win approach, and continue to create new business models for small merchants and invest in technologies.”
After entering Turkey in 2013, SK Planet tapped into the Indonesian market with the brand elevenia in March 2014, and started operations in Malaysia with the brand 11street in April 2015. The company also plans to enter Thailand this year and create another success story in the global markets by drawing on its market insights and localization strategies.