EW YORK and KUALA LUMPUR, Malaysia, Aug. 13, 2024 (GLOBE NEWSWIRE) — Treasure Global Inc. (NASDAQ: TGL) (“Treasure Global” or the “Company”), a leading technology solutions provider, is pleased to announce plans to integrate TikTok Shop with ZSTORE, an online store offering a wide range of groceries within the ZCITY Super APP (“ZCITY”). This integration will enable the Company to showcase and sell products directly within the TikTok Shop, a video-focused social media platform with over 150 million viewers.
The integration with TikTok Shop represents a strategic advancement for the Company, driving its globalization efforts and significantly broadening the market reach of ZSTORE. By tapping into TikTok Shop’s extensive user base, which includes over 55 million US shoppers, the Company is poised to enhance its global footprint and deliver its innovative solutions and diverse product range to a wider international audience.
This integration benefits ZSTORE’s 2,061 merchants by providing a platform to advertise their products through TikTok Shop, enhancing visibility and increasing engagement with potential customers. Merchants can capitalize on the platform’s interactive features to reach a wider audience. ZCITY’s 2.7 million existing users will enjoy a seamless shopping experience, as they can complete their orders directly within TikTok Shop.
Social commerce revenue is projected to hit USD 913 billion in 2023, with a yearly growth rate of 31.6%, reaching USD 6.2 trillion by 2030, according to a Straits Research report verified by Statista. This surge is driven by the influence of celebrities, video-rich content, and frictionless checkouts that facilitate impulse purchases on social media, presenting a significant opportunity for brands to scale sales through social media’s expansive reach.
“The integration of TikTok Shop with our ZCITY platform is a strategic move that will greatly benefit our company, merchants, and users,” said Carlson Thow, CEO of Treasure Global. “By uniting our innovative technologies with TikTok’s dynamic platform, we are creating a vibrant ecosystem that fosters growth and enhances the shopping experience for everyone involved.”
About Treasure Global Inc:
Treasure Global is a leading Malaysian solutions provider developing innovative technology platforms. Treasure Global has developed the ZCITY Super App, a unique digital ecosystem that transforms and simplifies the e-payment experience for consumers, while simultaneously allowing them to earn rewards. As of August 9, 2024, ZCITY Super App boasts over 2.7 million registered users.
For more information, please visit https://treasureglobal.co.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company’s ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of the coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company’s products and the Company’s customers’ economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors detailed in the Company’s filings with the United States Securities and Exchange Commission. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.
For further information, please contact:
Investor and Media Contact
ir_us@treasuregroup.co
