Brands Products such as: Apple, TCL and Hisense have been sold
Glory Star New Media Group Holdings Limited (NASDAQ: GSMG)
– Mr. Bing Zhang, Chairman and CEO of GSMG
BEIJING, CHAOYANG, CHINA, June 23, 2021 /EINPresswire.com/ – Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) a digital media platform and content-driven e-commerce company in China, today announced that at the company’s mid-year sales event held June 1–18 2021 (the “6.18 Shopping Festival” or the “Mid-Year Sales Event”), the gross value of merchandise (“GMV”) of its CHEERS e-Mall increased by approximately 380% year over year. the other to reach 240 million RMB. The exceptional results of the company during the 6.18 Shopping Festival were mainly due to the execution of innovative marketing campaigns, an increased number of storage units (“SKU”) carried by its CHEERS e-Mall, as well as quality brand selections, favorable demographic trends, and established synergies between its CHEERS e-Mall and its CHEERS video application.
In April 2021, ahead of the mid-year sales event, the company further stepped up efforts to increase its SKU CHEERS e-MALL selection and attract more brands to the CHEERS e-Mall. As a result, over 1,100 brands participated in the 6.18 Shopping Festival, the number of SKUs offered by the CHEERS e-Mall increased by around 30% year-over-year, and the GMV of the CHEERS food category e-Mall also grew by around 470% year over year. The most popular brands included Apple, TCL, and Hisense, while top-selling SKU categories included gold jewelry, computers, communications, consumer electronics, and home appliances.
Glory Star’s CHEERS e-Mall has gained traction with consumers and has continuously provided strong GMV performance for the company since its launch in April 2019. It achieved outstanding performance in 2020, during which its GMV increased by 581% year over year to reach US $ 132. million
Partnered with JD.com as a premium entertainment provider for China.
Strategic cooperation with the Haier group (owner of the GE Appliances division)
GSMG recently hit the streets with 88% revenue growth and proves it is a media giant.
Focus on e-commerce as the leading provider of supply chain solutions.
Program content for several international luxury brands.
Agreement with E-Surfing Media for 5G and AR technologies.
Agreement with ByteDance to develop joint programming objectives.
Application of on-board interactive content for new energy vehicles.
GSMG via YMT will serve 88 countries with 100 million registered users who will add many employees to GSMG
About Glory Star New Media Group Holdings Limited
Glory Star New Media Group Holdings Limited is one of the leading mobile entertainment operators in China. Glory Star’s ability to integrate premium lifestyle content including short videos, online variety shows, online dramas, live streaming, its Cheers lifestyle video series, e-Mall and a mobile app, as well as innovative e-commerce offerings on its platform, allows it to continue its mission of enriching people’s lives. The company’s large and active user base creates valuable engagement opportunities with consumers and improves the sustainability of the platform with thousands of national and international brands.
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Disclaimer / Safe Harbor:
These press releases and publications may contain forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that one of the companies mentioned in this document will make significant sales, failure to meet the schedule or performance requirements of the companies’ contracts, the liquidity position of the companies, the capacity companies to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In light of these uncertainties, the forward-looking events mentioned in this press release may not occur.
Bing Zhang Chairman and CEO
Glory Star New Media Group Holdings Limited
+86 10 8770 0500
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