Amazon partners with Korean e-commerce marketplace
Amazon is launching Amazon Global Store on 11st, a collaboration with Korean online retailer 11st that will open its U.S. inventory to customers in Korea.
The new online store offers what Amazon says is one of the largest international selections available for online shopping in Korea. Amazon Global Store on 11st provides tens of millions of products from more than 30 categories, including PC, toys, fashion, consumer electronics, books, and kitchen. Amazon’s prices, selection and customer service will be available to Korean customers while they are shopping directly on 11st via the 11st.kr/Amazon site or the 11st app.
In addition, customers who are subscribers to the Korean telecom SKT “Universe Pass” program will obtain free international delivery from Amazon U.S. on an expanding range of millions of products on Amazon Global Store on 11st. Customers will receive their orders within six to 10 working days, and select products will be available as fast as within four to six working days. Korean customers who are not Universe Pass subscribers will receive free international delivery with a minimum spend of $25.
Amazon is expanding its e-commerce operations in Korea as its still-impressive sales are showing signs of slowing growth. In its most recent fiscal quarter, the company reported a 27% net sales increase to $113.1 billion in the second quarter, missing expectations of $115.4 billion and giving rise to speculation that Amazon's pandemic sales run was slowing as in-store shopping picks up.
The rate of growth was down from recent quarters that saw sales increase more than 40%. Amazon also forecasted that its slowing sales would continue, with third-quarter sales of $106 billion to $112 billion. Analysts on average had been predicting third-quarter net sales of $119.31 billion.
“We are thrilled to bring Amazon Global Store to customers in Korea through 11st,” said Somana Konganda, director of Amazon Global. “11st shares our customer obsession, and together we are working to expand our product selection, give customers even greater value, and continually improve the shopping experience.
“Starting today, customers in Korea will be able to enjoy the most convenient way to shop global products, with free international shipping from the U.S. Both 11st and Amazon teams are thrilled to invite you to explore this new shopping experience. We are only getting started and will continue to innovate on your behalf, with the addition of many new services and product offerings in the future.”
“Today marks a proud day for us at 11st,” said Sangho Lee, CEO of 11st. The launch of Amazon Global Store on 11st brings together the best of 11st’s local know-how and Amazon’s global retailing experience. We will continue to work hand in hand with our partners at Amazon to innovate and provide a convenient and safe shopping experience for customers in Korea. We invite all customers to visit the 11st app and website that they have become familiar with, and explore the tens of millions of new Amazon US items available to shop from.”
In celebration of the launch, Amazon and 11st are offering customers thousands of deals, including up to 50% off on PC products and fashion brands, up to 40% off household products, and up to 30% off on Amazon devices, including Echo Dot International Version.