1~11 Days Sipiljeol Festival
Discount Benefits Worth 50 Billion Won
Over 10,000 Sellers Participating, One of the Largest Numbers
11st Street announced on the 28th that it will hold the '2020 Sibilsal Festival' offering discount benefits worth 50 billion KRW. The photo shows new members of 11st Street preparing for this year's first Sibilsal Festival.
[Asia Economy Reporter Minyoung Cha] 11st is launching the largest-ever ‘2020 Sipiljeol Festival’ with the highest number of brands and sellers participating.
11st announced on the 28th that the total discount benefits for the ‘2020 Sipiljeol Festival,’ held from the 1st to the 11th of next month, are expected to reach 50 billion KRW, the largest scale ever. During this period, the number of sellers will also reach a record high of about 10,000.
Throughout 2020, 11st has accumulated big data on sales of competitive products by brand and customer product preferences every month through the monthly Sipiljeol events. Based on business partnerships (JBP) with 40 leading domestic and international brands, 11st secured differentiated product competitiveness, including exclusive planned products only available on 11st.
First, products from leading domestic and international brands such as Samsung, LG, Apple, Dyson, Winia Dimchae, and SK Magic will be offered daily. They will sell a variety of digital home appliances including representative electronics like TVs, refrigerators, kimchi refrigerators, washing machines, dryers, and vacuum cleaners, as well as dishwashers, air purifiers, clothing care devices, laptops, smartphones, and Bluetooth audio devices. For example, Samsung Electronics’ ‘11st exclusive’ 70-inch TV is a product planned to meet the recent increase in demand for large TVs and will be sold through a time deal at 11 PM on the first day of the Sipiljeol Festival, the 1st.
Live broadcasts will also be introduced. Through 11st’s ‘LIVE11,’ various products will be showcased daily via live streaming. Products prepared include Samsung Electronics’ Bespoke dishwasher, Apple iPhone 12, and BMW. Customers can watch the live broadcast in real time on the 11st application (app), ask questions via chat, and participate in events held during the broadcast.
‘Group purchase’ and ‘pre-order’ products, which were popular last year, have more than doubled in number this year. These products become cheaper as more customers join the purchase in advance. Over 300 products are prepared this year, including home appliances, massage chairs, mattresses, ski resort lift tickets, and luxury bags.
Lee Sang-ho, CEO of 11st, said, “We prepared the 2020 Sipiljeol Festival with even more gratitude as many customers have told us they are looking forward to it again this year,” adding, “All members of 11st have prepared with one heart to live up to the reputation of Sipiljeol Festival as the best shopping event in Korea, so we hope everyone fully enjoys the excitement and joy of shopping.”
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