11st, 5.6 Billion KRW Sales in 10 Days During 'Korea Together Sale'

[Asia Economy Reporter Seungjin Lee] 11st announced on the 8th that it achieved sales of over 5.6 billion KRW in ten days through the ‘Korea Together Sale’.

Since June 26, 11st has participated in the ‘Korea Together Sale’ and collaborated with government, local governments, and institutions such as the Ministry of Oceans and Fisheries, the Ministry of SMEs and Startups, Seoul City, Jeollabuk-do Provincial Office, and NongHyup to help about 800 local sellers develop online sales channels.

11st offered about 2,000 products including agricultural and marine products, fruits, vegetables, livestock products, and industrial goods at special prices, which had suffered difficulties due to COVID-19. Within ten days of the event (6/26~7/5), the number of visitors to 11st’s ‘Korea Together Sale’ special exhibition exceeded 510,000, and the transaction amount of products sold during the ten days surpassed 5.6 billion KRW.

11st analyzed that raising product reliability through collaboration with the government, local governments, and major institutions, offering high-quality local agricultural products and excellent quality daily necessities in line with the event’s purpose, was effective.

11st is operating six special exhibitions: ▲‘Korea Fisheries Grand Exhibition’ featuring seasonal seafood (Ministry of Oceans and Fisheries) ▲Cost-effective ‘Excellent Small Business Special Discount Exhibition’ (Ministry of SMEs and Startups, Small Enterprise and Market Service) ▲‘Mutual Aid Win-Win Market’ gathering local specialties from small farms (Seoul City) ▲Healthy food for our family ‘Jeollabuk-do Geosigi Market’ (Jeollabuk-do) ▲Carefully selected Korean agricultural products ‘Value Consumption Together’ (NongHyup) ▲Traditional market ‘Youth Mall’ discount special exhibition (Ministry of SMEs and Startups, Small Enterprise and Market Service).

The ‘Fresh House Tangerines’ (2.5㎏), planned together with Jeju NongHyup, recorded total sales of 200 million KRW over ten days. This accounted for two-thirds of the total tangerine sales on 11st during the same period, with sales volume reaching about 20 tons.

For sellers participating in the ‘Geosigi Market’ launched in partnership with Jeollabuk-do, online sales performance had been insignificant, but by participating in the ‘Korea Together Sale,’ more than 5,000 units of four representative products such as ‘Farm Joe Baekje Rice Cake’ and ‘Heo Jeong-su Farmer Cocktail Tomato’ were sold in ten days, recording sales close to 80 million KRW.

After the ‘Korea Together Sale’ event ends, 11st plans to mobilize its core capabilities to promote sales for ‘co-growth’ to increase the actual income of small and medium-sized sellers and revitalize the local economy.