Business
Treasure Global Announces Achievement of ZCITY User Milestones
--Over 2.2 Million Registered Users As Of October 31, 2022 Over 233,000 Monthly Active Users As Of October 31, 2022Quarterly Active Users Up 35%
About this update from Treasure Global Inc.
[{"type":"text","content":"--Over 2.2 Million Registered Users As Of October 31, 2022 Over 233,000 Monthly Active Users As Of October 31, 2022Quarterly Active Users Up 35% Year-Over-Year As Of September 30, 2022A Total Of 3.9 Million Transactions By Registered Users Were Transacted During Fiscal Year 2022-- NEW YORK and KUALA LUMPUR, Malaysia, Nov. 14, 2022 (GLOBE NEWSWIRE) -- Treasure Global Inc (NASDAQ: TGL) (“TGI” or the “Company”), an innovative e-commerce platform providing seamless payment solutions and rewards programs, today announced key user milestones achieved by its proprietary app platform, ZCITY, a unique digital ecosystem that transforms and simplifies the e-payment experience for consumers, while simultaneously allowing them to earn rewards. Launched in Malaysia in June 2020, ZCITY has reached over 2.2 million registered users as of October 31, 2022, and over 233,000 monthly active users as of October 31, 2022. In addition, ZCITY has demonstrated strong year-over-year growth with quarterly active users up by 35% as of September 30, 2022. The increased registered user base has driven the completion of a total of 3.9 million transactions during the fiscal year ended June 30, 2022. “TGI’s strategic marketing plan to drive user traffic is proving effective, with strong results achieved and several key milestones reached for user growth and in turn sales. In less than three years, we have grown our registered users to over 2.2 million,” said Sam Teo, Chief Executive Officer of TGI. “Through our ZCITY platform, we are focused on enhancing and simplifying the shopping and payment experience for both customers and merchants. With a growing database this channel will also provide valuable insight into customer behavior and engagement going forward.” Within the ZCITY app, sales of e-vouchers were a key revenue driver, offering users vouchers in both essential and lifestyle consumption areas, such as e-wallet reloads, petrol, and shopping vouchers. E-vouchers are also an effective way for ZCITY to acquire and activate new users by enticing customers to return with exclusive rewards. An example of this strategy is the “Six Months Shell FREE Fuel” campaign ZCITY launched with Shell, that began in September 2022 and will run over three months until the end of December 2022. Throughout the promotion, when users spend a minimum accumulative of RM30 on a Z...