For those in Bangkok, it’s almost impossible not to notice the red banners splashed across the city’s skytrain stations. Right in the heart of Bangkok’s mall district are surfaces covered in ads for Korean e-marketplace 11street, which made it’s long awaited launch in February.
The Korean e-marketplace has gained high website traffic following its launch, high enough to be catching up to leading B2C site Lazada in Thailand. Although 11street’s 7.6 million visits in January is still very modest compared to Lazada’s 41.6 million, the Korean giant has managed to reach traction where other players such as Central online or Zalora have not managed.
Below are search results for 11street and Lazada, for comparison:
“This year alone we plan to invest over a billion baht on our marketing campaigns to attract buyers with even better products, promotions and prices,” says Hong Cheol Jeon, CEO of 11street Thailand.
The marketplace is planning to spend one billion baht or $28,522,540 USD on only marketing.
11street’s expensive marketing efforts also include signing famous brand ambassadors for the marketplace as Thai’s especially are still influenced by celebrities. Thai actress Nittha Jirayungyurn and Korean actor Song Joong-Ki, can be seen holding up the iconic 11street handle signal in skytrain stations.
The ecommerce market in Thailand is big enough for more than one dominant player and the company’s efforts in making an entrance is expected. After the PR buzz dies down, it is really down to which platform can provide the best customer experience and grab more market share.
This means reliable delivery, active customer support, wide selection of products and easy payment options.
Let the games begin.