Treasure Global Inc Announces Integration of TikTok Shop with ZSTORE to Enhance Global Reach and Seamless Shopping Experience

Rhea-AI Summary

Treasure Global Inc (NASDAQ: TGL) announces plans to integrate TikTok Shop with ZSTORE, an online grocery store within the ZCITY Super APP. This strategic move aims to enhance TGL's global reach and provide a seamless shopping experience. Key points include:

1. Access to TikTok's 150 million viewers and 55 million US shoppers
2. Benefiting ZSTORE's 2,061 merchants with increased visibility
3. Seamless shopping for ZCITY's 2.7 million users
4. Tapping into the projected $913 billion social commerce market in 2023
5. Potential to scale sales through social media's expansive reach

CEO Carlson Thow emphasizes the strategic importance of this integration for the company's growth and user experience enhancement.

Positive

• Integration with TikTok Shop expands market reach to over 150 million viewers
• Access to 55 million US shoppers on TikTok platform
• Increased visibility and engagement opportunities for 2,061 ZSTORE merchants
• Potential to tap into the projected $913 billion social commerce market in 2023
• Seamless shopping experience for 2.7 million existing ZCITY users

Negative

• None.

Insights

E-commerce Strategy Expert

The integration of TikTok Shop with ZSTORE is a strategic move that could significantly boost Treasure Global's market reach. With TikTok's 150 million viewers and 55 million US shoppers, this partnership opens up a vast new customer base. The seamless shopping experience for ZCITY's 2.7 million users could drive higher conversion rates and increased sales volumes.

However, success isn't guaranteed. TikTok Shop is still relatively new and faces stiff competition from established e-commerce platforms. Treasure Global will need to navigate TikTok's algorithm effectively and create engaging content to stand out. The projected growth of social commerce to $6.2 trillion by 2030 is promising, but it's important to monitor actual adoption rates and ROI in the short term.

Social Media Marketing Analyst

This integration taps into the growing trend of social commerce, which is reshaping the retail landscape. TikTok's video-focused platform is particularly suited for product demonstrations and influencer marketing, potentially driving higher engagement rates than traditional e-commerce channels. The ability for ZSTORE's 2,061 merchants to advertise directly on TikTok Shop could lead to increased visibility and sales.

However, success on TikTok requires a deep understanding of the platform's unique culture and trends. Treasure Global will need to invest in creating authentic, engaging content that resonates with TikTok's predominantly younger audience. They'll also need to navigate potential challenges such as rapid trend changes and the platform's evolving policies. The key to success will be agility and constant adaptation to the platform's dynamics.

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, 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

FAQ

What is Treasure Global Inc's plan to integrate with TikTok Shop?

Treasure Global Inc (TGL) plans to integrate TikTok Shop with ZSTORE, its online grocery store within the ZCITY Super APP, to enhance global reach and provide a seamless shopping experience for users.

How many merchants and users will benefit from TGL's TikTok Shop integration?

The integration will benefit ZSTORE's 2,061 merchants by providing increased visibility and engagement opportunities, while ZCITY's 2.7 million existing users will enjoy a seamless shopping experience.

What is the projected size of the social commerce market that TGL aims to tap into?

According to a Straits Research report verified by Statista, social commerce revenue is projected to reach $913 billion in 2023, with potential growth to $6.2 trillion by 2030.

How does the TikTok Shop integration align with TGL's globalization efforts?

The integration represents a strategic advancement for TGL's globalization efforts by tapping into TikTok's extensive user base, including over 55 million US shoppers, thus broadening the market reach of ZSTORE internationally.