Astro GS Store Malaysia bullish on progress
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House buying channel Astro Malaysia says its gross sales have risen 50 per cent between the January and April quarters.
Astro GS Store is a three way partnership between cable TV community operator Astro Malaysia and South Korean multimedia retailer GS Residence Purchasing Inc.
Within the quarter to April 30, Astro says the TV buying channel achieved RM37 million in gross sales, or about US$10 million). That’s a full 50 per cent greater than within the three months to January 31.
The channel was ‘soft-launched’ final November, with the 2 companions not sure how Malaysians would take to purchasing on TV, particularly given the viewers was restricted to pay TV subscribers.
Between February and April, Astro GS Store bought 175,000 gadgets, 55,000 greater than between November and January.
The numbers should be small in comparison with extra mature TV buying companies in Korea or Thailand, for instance, however it’s the momentum which is reassuring the three way partnership companions.
“I feel the traction is sweet,” Astro GS Store CEO Rozalila Abdul Rahman advised Digital News Asia.
“Once we had our delicate launch in November final yr, we didn’t know whether or not the market was prepared. So there was no promoting push in any respect – we simply went on the air, and we began to see lots of people calling in.”
Astro says its buyer database expanded from 75,000 to 160,000 through the newest quarter.
The JV operated underneath the model Go Store on a 24-seven devoted channel on Astro’s pay TV platform, in addition to on web and cellular platforms.
Rozhan predicted final yr that Malaysia’s eCommerce sector can be value RM3.6 billion (US$960 million) by 2020.
After the early success of Go Store, Astro GS Store is planning to launch a second channel aimed toward Malaysian Chinese language residents.
“We hope Astro GS Store is ready to hit RM150 million (US$40 million) in income this monetary yr. In 5 years, we hope we will develop income to RM500 million (US$133 million),” she stated.
Questions & Answers
Q.What is the total value of sales achieved by Astro GS Store in the quarter to April 30?
What is the total value of sales achieved by Astro GS Store in the quarter to April 30?
In the quarter ending April 30, Astro GS Store achieved RM37 million in gross sales. This figure is equivalent to approximately US$10 million, representing a significant increase from the previous quarter.
Q.How many items did Astro GS Store sell in the period between February and April?
How many items did Astro GS Store sell in the period between February and April?
Between February and April, Astro GS Store successfully sold 175,000 items. This volume was 55,000 more than the number of items sold during the earlier period of November to January.
Q.What are Astro GS Store's revenue targets for the current financial year and over the next five years?
What are Astro GS Store's revenue targets for the current financial year and over the next five years?
Astro GS Store aims to reach RM150 million (US$40 million) in revenue this financial year. Over a five-year period, the company hopes to expand its revenue to RM500 million (US$133 million).
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