PHOTO - Wong Sui Ting, CEO of Forum Digital -JackCow.com
Home-grown online group buying firm Forum Digital's 'JackCow' expects strong growth in the coming months as the social marketing trend is gaining momentum in Malaysia, said the company.
Forum Digital chief executive officer Wong Sui Ting said its 'JackCow' [JackCow.com] started operations in March 2011. "Our strong strategic alliances with Berjaya Group of companies and affiliation to 24Quan.com, currently one of China's group buying leaders, will eventually spearhead JackCow in its mission to be among the top players in the region."
"There were 16,902,600 Internet users in Malaysia (representing 58.8 percent of the population), according to Internet World Stats in August 2011," said Wong. "This represents 1.8 percent of the Asian population. In Southeast Asia, Malaysia ranked second behind the Philippines in digital consumers who have connected/interacted with brands, products or companies via social media in the past 12 months. To date, based on the market research from Dealshelve.com, online group buying has grown to a sustainable US$6-8 million market per month, which has developed into an industry and prominent market by itself."
"The key to success of a group-buying website is attributed to certain factors, such as having a win-win formula, quality of the deals, as well as quality and quantity of the member database," he said, adding that the company expects to achieve RM8 million (US$2.52 million ) in sales revenue 2012.
"Our next target will be Malacca and Kota Kinabalu by 2012," said Wong. "The company expects to have close to one million subscribers by 2013. At present, our subscriber database stands more than 250,000 registered users and 69,500 Facebook fans and growing rapidly on a daily basis."
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