SK Square's subsidiary 11Street announced on the 7th that the number of customers who joined the free membership program '11Street Plus' has surpassed 1 million just nine months after its launch. 11Street Plus is a free membership program that allows customers to combine up to five family members to purchase together on 11Street and receive various benefits each month.
As a result of analyzing customer purchasing patterns over the past nine months, 11Street found that as of last month, the repurchase rate of customers who joined 11Street Plus was nearly 80% higher than that of non-members. The number of products purchased per person was also over 90% more than that of non-members.
The free membership program, amid high prices, has led to consistent visits and purchases by customers, increasing the lock-in effect. The more family members customers combine, the more actively they participate in purchases to receive benefits. In July, families with five members combined had a purchasing goal achievement rate about 80% higher than those with two members combined.
Additionally, membership customers utilized 'mart' benefits the most. The largest customer group was 'women in their 40s.' It is interpreted that providing benefits linked to frequently purchased food and daily necessities, which need to be bought frequently despite high prices, resonated with customers. In fact, immediately after enhancing the mart category benefits in May, the average number of new members joining 11Street Plus increased by more than 60% compared to the previous period (March-April).
Lee Young-jin, the marketing head of 11Street, noted, "In an era of high prices, we are achieving the effect of securing loyal customers with a strategy focused on practical benefits without membership fees in line with customer demand for practicality," and added, "We will continuously enhance the membership program to match changing customer trends."