11st Captures Both 'Customers and Profitability,' Achieves 9 Consecutive Months of Operating Profit in Open Market Business

Operating profit improved by 25 billion KRW from January to November compared to last year
Monthly active users increased to 9.23 million
Customer acquisition to continue with year-end marketing in December

SK Square subsidiary 11st announced on the 19th that it has achieved nine consecutive months (March to November) of operating profit in its core open market business.

11st is maintaining a profitability-focused management policy this year. Thanks to continuous efforts to reduce fixed costs, the cumulative operating profit of the open market sector from January to November this year improved by more than 25 billion KRW compared to the same period last year.

The increase in sales during last month’s biggest shopping festival of the year, the ‘Grand 11th Day,’ was also positive. 11st put great effort into attracting customers by offering various promotions and product benefits during the Grand 11th Day. As a result, 11st’s monthly active users (MAU) in November reached 9.23 million, an 18% increase compared to the previous month. Additionally, the number of payment customers in the open market sector increased by 14% month-on-month, and the number of new and dormant payment customers in the open market grew by 25%.

The shopping corner ‘10-Minute Rush,’ launched at the end of September, is also showing results. This service sells special discount products for only 10 minutes every day at 10 a.m. Last month, combined with the effect of the Grand 11th Day, the transaction amount of 10-Minute Rush increased more than fivefold (438%) compared to the previous month. The number of purchasing customers also surpassed 100,000. The number of customers subscribed to ‘Family Plus,’ a free membership service where all family members earn ‘11Pay Points’ upon achieving purchase goals, exceeded 240,000 last month.

11st plans to continue focusing on profitability-centered solid management in December, strengthening various year-end discount events and promotions to secure more customers and maintain its performance improvement trend.

An 11st official said, “Thanks to providing various customer benefits befitting the biggest shopping event of the year through the ‘Grand 11th Day,’ we were able to continue nine consecutive months of profit,” adding, “We will make further efforts in December to enhance customer satisfaction and secure profitability to maintain a positive performance trend.”