NEW 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, announces plans to integrate TikTok Shop with ZSTORE, an online store offering a wide range of grocery products within ZCITY Super APP (“ZCITY”). This integration will enable the Company to showcase and sell products directly within TikTok Shop, a video-centric social media platform with an audience of over 150 million.
“The integration with TikTok Shop is a strategic step forward for us, furthering our globalization efforts and significantly expanding ZSTORE’s market reach. Leveraging TikTok Shop’s extensive user base, including over 55 million U.S. shoppers, will enable us to strengthen our global expansion and deliver our innovative solutions and diversified product lines to a wider international audience.”
With this integration, ZSTORE’s 2,061 merchants will benefit by being given a platform to promote their products through TikTok Shop, increasing awareness and engagement with potential customers. Merchants can leverage the interactive features of the platform to reach a wider audience. ZCITY’s 2.7 million existing users will be able to complete their orders directly within the TikTok Shop, enjoying a seamless shopping experience.
According to a Straits Research report reviewed by Statista, social commerce revenue is expected to reach $913 billion in 2023, with a compound annual growth rate of 31.6%, reaching $6.2 trillion by 2030. This surge is driven by celebrity influence, video-heavy content, and frictionless checkout that encourages impulse purchases on social media, creating a huge opportunity for brands to grow sales through social media’s extensive reach.
“The integration of TikTok Shop with our ZCITY platform is a strategic move that will provide significant benefits to our company, our merchants and our users,” said Carlson Thau, CEO of Treasure Global. “By combining our innovative technology with TikTok’s dynamic platform, we are creating a vibrant ecosystem that will drive growth and enhance the shopping experience for all involved.”
About Treasure Global Inc.:
Treasure Global is a leading Malaysian solutions provider developing innovative technology platforms. Treasure Global has developed ZCITY Super App, a unique digital ecosystem that transforms and simplifies consumers’ e-payment experience while enabling them to earn rewards. As of 9 August 2024, ZCITY Super App has over 2.7 million registered users.
For more information, visit https://treasureglobal.co
Caution Regarding Forward-Looking Statements
This press release contains forward-looking statements that involve various risks and uncertainties. These statements include statements regarding our ability to expand our business and other statements that are not historical facts (including statements containing words such as “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “estimates,” “seeks,” “believes,” “hopes,” “potential” and similar words). Actual results may differ materially from those described in these forward-looking statements due to certain factors, including our ability to operate our business profitably, customer acceptance of new products, the impact of the spread of the coronavirus (COVID-19), future actions taken by authorities in countries in which we have supply chain partners, demand for our products and the economic condition of our customers, the impact of competitive products and pricing, management success, general economic conditions, and other risk factors detailed in our filings with the U.S. Securities and Exchange Commission. The forward-looking statements contained in this press release are made as of the date of this press release, and we assume no responsibility to update any forward-looking statements in this press release, except in accordance with applicable law.
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