South Korea's 11th Street and the Post have achieved strategic cooperation and launched a new express delivery service

As one of the top three e-commerce platforms in South Korea, 11Street has always been recognized by Korean consumers for its excellent product and service quality .

South Korean e-commerce platform 11 Street said on the 22nd that in order to support and help small and medium-sized sellers on the platform with small shipments and high express delivery fees , it has launched a " win-win express delivery " service with Korea Post .

Start-ups or small and medium-sized sellers usually have low sales in the early stage. If they use conventional express delivery services, they need to pay an average of 3,500 to 4,000 won in express delivery fees. The "Win-Win Express" service enables sellers who are new to the industry to use Korea Post Express at a lower cost.

If the weight of the goods is less than 1kg, the seller only needs to pay 2,300 won for express delivery, which reduces the express delivery fee by about 35% to 40% . And even if the seller only sends one express delivery per day , he can enjoy this service . If more than 10 items are sent per day , the post office will provide direct door-to-door collection service.

In addition , to commemorate the opening of the service, 11 Street has also launched a promotion . Sellers who apply for Win-Win Express within three months of the opening will receive a limited-time discount of 2,000 won per delivery unit ( under 5 kg ) within three months after signing the contract .

11 Street said: "By cooperating with Korea Post, we can provide reasonable contract prices to the post office while providing reasonable express prices to small and medium-sized sellers on the platform, promote product sales, and achieve a win-win situation."

Indeed, for novice sellers, low shipment volume and high express delivery fees are problems that they will encounter more or less in the early stages of business. This move by 11th Street will greatly ease the operational pressure on new sellers on the platform and indirectly promote the sales of store merchandise.

In the past 2020, although 11th Street's sales increased by 2.8% to 545.6 billion won, its annual operating loss was as high as 9.8 billion won (57.31 million yuan). It just made a profit for the first time in 2019, but turned to losses the following year. Coupled with competitors such as Coupang and Naver, 11th Street is under great pressure.

The launch of this "Win-Win Express" service can, on the one hand, utilize the postal service infrastructure based on express delivery all over the country to provide sellers with a good sales environment, and on the other hand, it can also provide consumers with better 11th Street delivery services. While consolidating its own reputation, it will gain more favor from Korean consumers. It can be said to be a "win-win" situation!

11th Street

Korea Post

express delivery