Treasure Global Inc (NASDAQ: TGL) (“TGL,” “Treasure Global” or the
“Company”), an innovative technology solutions provider, today
announced its next live commerce achievement with ZCITY, its
innovative e-commerce subsidiary, utilizing Meta as the platform
for its next live commerce event, and continuing to push the
boundaries of innovation in the digital age. ZCITY’s live commerce
events on platforms like Meta and TikTok are expected to open
opportunities for additional revenue for the Company.
Revolutionizing Live Commerce: A Duo of
InnovationBuilding on ZCITY’s initial groundbreaking
achievement as the first business in Malaysia to conduct a live
commerce session on TikTok and to partner a human host with an
artificial intelligence (“AI”) robot host, TGL now introduces a
similar innovation on Meta Platforms. The AI robot, equipped with
advanced language capabilities, will engage with thousands of
viewers in multiple languages, breaking down language barriers and
enhancing accessibility.
The Live Commerce Revolution: A Lucrative Market
LandscapeLive commerce is not just a trend; it’s a
lucrative market that’s reshaping the future of e-commerce. With
Malaysia’s e-commerce market projected to reach US$20.93 billion by
2029, TGL is strategically positioned to tap into this exponential
growth.1
Global Success Stories in Live CommerceAs live
commerce becomes an integral part of the sales channel globally,
success stories abound. Top global brands like Louis Vuitton,
Gucci, Kiehl’s and Coach have integrated live commerce into their
marketing strategies.2 Additionally, Caterpillar Technology Sdn
Bhd, TGL’s strategic partner, has achieved a highest daily live
result reaching RM1 million in sales during its live commerce
sessions. This achievement underscores the immense revenue
potential and effectiveness of live commerce.
Tapping into Meta Live Commerce: A Vast Market
AwaitsWith the upcoming live commerce event on Meta
Platforms, TGL is set to tap into a vast market. Meta Platforms,
with its millions of active users, presents an unparalleled
opportunity to showcase products, engage with a global audience and
drive revenue growth. As an early adopter of live commerce in the
region, TGL believes that it will achieve not just participation
but prominence in the evolving landscape of digital commerce.
Caterpillar Tech’s Integration: A Catalyst for Revenue
GrowthThe integration of Caterpillar Technology, with its
daily outbound capacity of 5,000 orders and a peak capacity of
15,000 orders, adds a robust infrastructure for efficient live
commerce operations. The previous success of Caterpillar Technology
in achieving a high daily live result of RM1 million in sales is an
example of the revenue potential that can be unlocked through
strategic live commerce initiatives.
A Diverse Product Showcase: Catering to a Global
MarketZCITY’s live commerce event will feature a diverse
range of products sourced from China’s 24x7 live commerce mall.
With a few hundred thousand products available, this extensive
showcase not only reinforces ZCITY’s commitment to a
groundbreaking, cross-border shopping experience but also positions
TGL to cater to the diverse needs of a global market.
Tapping into the Meta Live Commerce Market
SizeThis strategic move into Meta Platforms positions TGL
to tap into the vast market size of Meta Live Commerce. With
millions of active users on Meta Platforms, the live commerce event
has the opportunity to reach a global audience.
“Today marks a historic moment not only for Treasure Global and
ZCITY but for the entire e-commerce industry. Our AI-human hosted
live commerce sessions have surpassed expectations, showcasing the
immense potential of innovative technology in reshaping the way
consumers interact with brands to enhance the shopping experience.
This success underscores our commitment to pushing the boundaries
of what’s possible and redefining the future of e-commerce,” said
Sam Teo, Chief Executive Officer of Treasure Global.
About Treasure Global IncTreasure Global is a
Malaysian solutions provider developing innovative technology
platforms. Treasure Global has developed two technology solutions:
the ZCITY App, a unique digital ecosystem that transforms and
simplifies the e-payment experience for consumers, while
simultaneously allowing them to earn rewards; and TAZTE, a digital
F&B management system providing merchants with a one-stop
management and automated solution to digitalize their businesses.
Treasure Global also acts as a master franchiser in Southeast Asia
for popular restaurant chains, while providing them with the TAZTE
solution. As of November 28, 2023, ZCITY had over 2,670,000
registered users.
For more information, please
visit https://treasureglobal.co/.
About Caterpillar Technology Sdn
BhdCaterpillar Sdn Bhd stands as a beacon of innovation in
the dynamic world of Southeast Asian commerce. They specialize in
revolutionizing the concept of cross-border live selling,
harnessing digital technology to reshape the traditional boundaries
of marketing and sales.
They have established strong partnerships with SAHA Group in
Thailand and Yowant in China, enhancing their ability to reach
diverse markets and incorporating international expertise into our
service portfolio.
Forward Looking StatementsThis press release
may contain forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Such
forward-looking statements are characterized by future or
conditional verbs such as “may,” “will,” “expect,” “intend,”
“anticipate,” “believe,” “estimate” and “continue” or similar
words. You should read statements that contain these words
carefully because they discuss future expectations and plans, which
contain projections of future results of operations or financial
condition or state other forward-looking information.
Forward-looking statements are not guarantees of future
performance, are based on certain assumptions, and are subject to
various known and unknown risks and uncertainties, many of which
are beyond the control of the Company, including those set forth in
the Risk Factors section of the Company’s Annual Report on Form
10-K for the fiscal year ended June 30, 2023 and subsequent filings
filed with the Securities Exchange Commission (“SEC”). Copies of
these documents are available on the SEC’s
website, www.sec.gov. These forward-looking statements cannot
be predicted or quantified and consequently, actual results may
differ materially from those expressed or implied by such
forward-looking statements. The Company undertakes no obligation to
update these statements for revisions or changes after the date of
this release, except as required by law.
For further information, please
contact:U.S. Investor ContactErika
KayKCSA Strategic Communicationsir_us@treasuregroup.co
Malaysian Investor
Contactsir_my@treasuregroup.co
Media ContactSue Chuah, Chief Marketing
OfficerTreasure Global Incmediacontact@treasuregroup.co
1https://www.mordorintelligence.com/industry-reports/malaysia-ecommerce-market#:~:text=Malaysia%20E%2DCommerce%20Market%20Analysis,period%20(2024%2D2029)2https://www.linkedin.com/pulse/trd-issue-41-insight-how-live-commerce-transforming-shopping/
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