"Discovering Sellers and Cost-Effectiveness"... 11st Takes on Catching Two Rabbits

Purpose of Recruiting 'Long-tail Seller'

11st has opened '9900 Won Shop,' a value-for-money item specialty store that gathers and sells products priced under 10,000 won.
[Photo by 11st]

11st's 9,900 Won Shop, which opened on the 4th, is said to be a strategy aimed at discovering sellers in the open market sector. It is an attempt to catch two rabbits with cost-effectiveness and more.

According to the industry on the 5th, 11st opened the 9,900 Won Shop the day before, a cost-effective item specialty store that curates and sells products priced under 10,000 won. The 9,900 Won Shop sells recommended products priced at 3,900 won, 6,900 won, and under 9,900 won. The products sold are carefully selected from categories frequently used in daily life, such as household goods, kitchenware, sports goods, pet supplies, stationery and tools, fashion accessories, and cosmetics.

Regarding the opening of the 9,900 Won Shop, 11st stated that "the main purpose is to discover new sellers." This means it is positioned as a card to compete against Naver Smart Store, which is absorbing new sellers in the open market sector. A 11st official explained, "Open market competitiveness comes from differentiated products, and since Naver Smart Store has everything, it can do well," adding, "The 9,900 Won Shop can be seen as a foothold to recruit ‘long-tail sellers’ who sell unique products."

The 9,900 Won Shop aligns with 11st’s ‘Original Seller Program’ in terms of discovering and attracting sellers. The Original Seller Program exempts commission fees up to a certain sales amount for businesses selling unique products. 11st expects that the 9,900 Won Shop, along with the Original Seller Program, will expand the influx of new sellers and lead to profit generation.

Ko Gwang-il, head of sales planning at 11st, said, "The goal is to provide satisfaction that even buying one item at the 9,900 Won Shop feels like a worthwhile shopping experience," adding, "We will actively reflect consumer trends and gradually expand product categories and scale to establish it as a specialized store tailored for the high-inflation era."