11street posts 6-fold jump in GMV on Singles’ Day sale

By NUR HAZIQAH A MALEK / Pic By BERNAMA

E-COMMERCE platform 11street recorded a sixfold rise in gross merchandise value (GMV) during its recent 11.11 sale compared to the average sales of a regular business day for this year.

The company said the total orders received in conjunction with this year’s Shopping Madness 11.11 sale were three times its daily average for 2018.

It said not only did the number of orders increase, but shoppers also bought more per order at an average value close to RM300.

11street said two factors contributed to the higher sales — a wider variety of products offered by its sellers and competitive prices.

CEO Cheong Chia Chou (picture) said its customers mainly shop for smartphones and electronics during major sales days.

“In 2017, smartphone brands were our best-selling items.

“However, we also see customers lean towards health and beauty products this year with our health-conscious customers purchasing supplements and health-related products,” he added.

The top-performing categories on 11street during the sale were health and beauty; mobile and information technology; electronics; as well as baby, kids and toys.

11street also noted that shoppers are shifting towards mobile commerce due to the growing mobile penetration in the country, with 73% of the transactions made via mobile devices.

“This could also be attributed to the diverse payment methods available to shoppers on 11street including e-wallet services such as Boost,” the company said.

Meanwhile, Lazada Malaysia surpassed its Singles’ Day sales performance last year within the first nine hours, with Milo topping the list of items and registering over 27 tonnes of purchases on the platform.

Lazada CEO Christophe Lejeune said the company has witnessed a shift in consumer behaviour with an ever-increasing number of Malaysians shopping online.

“We are inspired to serve the evolving needs of our customers through our technology, logistics capabilities and extensive footprint,” he said, adding that the company aims to produce eight million e-commerce entrepreneurs, and small and medium enterprises by 2030.

The e-commerce platform said all 11 units of the exclusive Volkswagen Polo B&W Edition were sold out within one minute, on top of over 13,000 Xiaomi phone units and 4.5 million pieces of diapers.

It also said women drove the high sales from its home and living; fashion; health and beauty; accessories; as well as mother and baby categories.

Another platform, Shopee, described its mobile-first strategy as successful with more than 90% of orders placed during the sales made in-app.

The highest participating brands and sellers saw a 716 times increase in orders, with an average of over 750% increase in traffic.

Similar to Lazada, the platform’s health and beauty; mobile and gadget; as well as home and living categories saw the highest number of sales on the Singles’ Day sale.

Its in-app game, Shopee Shake, was played over four million times in Malaysia throughout the sale.

Shopee regional manager Ian Ho said the platform will engage closely with its stakeholders including sellers, brand manufacturers, partners, buyers and the government.

“We pledge to remain steadfast in our commitment to constantly innovate and improve our offerings, campaigns, activities and features,” he said.