Global digital media company migme Limited (ASX:MIG) has expanded its ecommerce offering with the launch of the migshop store in India and Indonesia. migshop is another important step is developing migme as a social ecommerce platform, a highly successful and common business model in the Asian region that combines online shopping with the power of social networking and recommendations. Initially migshop will offer a curated selection of products from ecommerce merchants Lazada and Snapdeal.
- migme expands its ecommerce offering with the launch of the migshop store in Indonesia and India
- migshop is an important step in building migme’s social ecommerce platform, which combines ecommerce with the power of social networking and recommendations
- migshop offers a curation of products from ecommerce merchants Lazada and Snapdeal, initially for the Indonesian and Indian markets
- A social ecommerce and integration strategy is the key to delivering the right platform for migme’s regional markets
- The integration of recently acquired social news site Hipwee to the migme platform is expected shortly
Global digital media company migme Limited (ASX: MIG) (“migme” or the “Company”) is pleased to announce the expansion of its ecommerce offering with the launch of the migshop store (www.migshop.me), an important step in building the Company’s social ecommerce platform.
Social ecommerce combines online shopping with the power of social networking and recommendations. It is a highly successful and common business model in the Asian region that is attracting a high level of investment from global institutions. By creating its own social ecommerce offering, migme will enable its key influencers, partners and users to buy and sell through migme’s own platform, which will increase user engagement and revenue.
Currently the migshop store offers a curated selection of products from leading South East Asian ecommerce merchant Lazada and India’s largest online marketplace Snapdeal. More merchants are expected to be added in the coming months. The store will initially be accessible to migme users in the Indonesian and Indian markets, with the Philippines and others to follow. Users will be able to access migshop via the web and mobile web channels.
The formation of migshop is an important part of the Company’s social ecommerce strategy and follows the integration of recent ecommerce acquisitions Sold.sg (pay-to-bid business) in 2015 and Shopdeca (business-to-consumer ecommerce retailer) in April 2016.
migme CEO Steven Goh said: “Building our social ecommerce and integration strategy is about creating the right platform and experience for our users in South East Asia, which attracts users, increases their engagement with the platform and creates additional revenue generation opportunities.”
“The social key influencers framework plays a leading role in driving online shopping and purchasing behaviour and this has contributed to the rise of this business model in other Asian markets. Companies such as Mogujie and Meilishuo in China, which have a combined value of $US3 billion, have had great success in this area. We are confident we can replicate this strategy in our key markets, where there are similar dynamics. The launch of the migshop store is another successful step forward as we continue to add and integrate more great partners to our platform.”
Prior partner integrations include those launched last month with a new Android mobile client – match-3 puzzle game Gone Goose, Meitu’s beauty apps BeautyPlus and MakeUpPlus, and couples sharing app LoveByte.
To expand the platform’s reach into key markets, migme is successfully partnering with a growing list of artists, entertainers and key influencers via alivenotdead. The Company further looks forward to the integration to the platform of recently acquired social news site Hipwee.