11Street said on the 26th that, based on this year's solid improvement in results, it will strengthen its customer acquisition strategy next year. It plans to expand benefits for the free membership service "11Street Plus" and step up marketing with SK affiliates, including SK Telecom's "T Membership" and SK Planet's "OK Cashbag."
Park Hyun-soo, president of 11Street, held a town hall meeting for employees at the 11Street headquarters in Gwangmyeong, Gyeonggi, on the 23rd and outlined the strategic direction for the new year. Park said, "Even in a tough environment this year, 11Street established itself as a platform consistently visited by more than 8.5 million customers every month," and added, "In the new year, we will grow into a 'platform of trust' that more customers can rely on when making purchases."
In the first to third quarters this year, 11Street's operating loss fell about 45% (23.7 billion won) from a year earlier. 11Street has been narrowing losses for 10 consecutive quarters. Its core business, the "open market" institutional sector, has posted profits for 21 straight months (from Mar. last year to Nov. this year), and a profit is expected this month as well. The retail business is also reducing its operating loss.
Next year, the company plans to pursue aggressive profitability improvements while maximizing customer inflows. It will enhance benefits for the free membership service "11Street Plus" and boost marketing with SK affiliates, including SK Telecom's "T Membership" and SK Planet's "OK Cashbag," to increase customer benefits.
It also plans to systematize the price adjustment process and continue sales centered on "online lowest price" products. It will strengthen "context commerce," which provides customized search results based on customers' purchase histories, among other factors. To prepare for future "artificial intelligence (AI) shopping," it will also push to reorganize its data architecture.
Park added, "This year, 11Street successfully achieved a profitability-focused structural reform thanks to the efforts of all members, and if we accelerate a growth strategy through customer acquisition on top of that, we can make a bigger leap in 2026," and said, "We will do our utmost to secure market competitiveness."