KUALA LUMPUR, April 1, 2017 – After wrapping up a successful first year, CJ Wow Shop, Malaysia’s latest multiplatform home shopping network, is poised for stronger growth in the year ahead.
The network, which integrates television, online and mobile platforms, is targeting to double its revenue by the end of 2017. In 2016, the network recorded sales surpassing RM90 million, serving more than 350,000 customers within only a year of operations.
Operated by MP CJ O Shopping Sdn Bhd, the company has expanded its range of offerings from 27 items when first launched last March 2016 to current inventory of 400 variety of products today. They range from household products, electrical items, gadgets, beauty, fashion and many more.
Kim Yang Hyun, Chief Executive Officer of CJ WOW SHOP said, “This promising result validates our expansion strategies and we are building on this momentum to drive our efforts in serving more Malaysian households. Our priority is to provide a wider pool of audiences with an immersive shopping experience at their own convenience from anywhere at any time. Realising the various untapped opportunities in the market, we are constantly innovating to cater our products and offerings to better meet their needs.”
Consistent with its focus on innovation, CJ Wow Shop kicked off its ‘Setahun Bersama WOW’ anniversary celebration with the first ever telecast in front of a live studio audience.
Commenting on its stellar performance, Datuk Kamal Khalid, Chief Executive Officer, Media Prima Television Networks (MPTN) said CJ WOW SHOP is one of the key drivers of Media Prima’s business growth.
“The implementation of new initiatives, such as our home shopping venture, has succeeded in strengthening our non-traditional revenue streams. This success demonstrates the continued importance of television to the lives of many Malaysians today. Our extensive reach allows us to deliver innovative content that is relevant to the mass audience and make it available in ways that is convenient for them to consume,” added Kamal.
CJ Wow Shop has expanded on various fronts since its launch even against the backdrop of softening consumer spending. Bringing the shopping experience straight to audiences’ homes, it introduced weekly ‘live’ product demonstrations on television in October 2016.
The network also increased its programme slots across Media Prima’s Free-To-Air channels TV3, ntv7 and TV9 bringing up the total broadcast hours to 19.5 hours. More recently, the network launched its Mandarin programme on 8TV on 8 January 2017, which airs from 6am to 9am daily to make CJ WOW SHOP more accessible, relevant and exciting for a diverse range of audience.
Mr. Kim said, “Working closely with home grown brands have always been one of our key priorities and we are planning to continue this approach in charting our future growth. Through our extensive reach we are able to provide these brands, especially small businesses, with a platform to expand by connecting them with our audiences.”
With Malaysia’s e-commerce market projected to be valued close to RM5 billion (USD1.12 billion) in 2017, the multiplatform home shopping network is also looking to increase its mobile and e-commerce revenue contribution to 25 percent by the end of this year. This market is set to grow at a compound annual growth rate of 24 percent from 2016 to 2021 bringing the value close to RM11.49 billion (USD2.59 billion) within 5 years. Currently, 80 percent of CJ WOW SHOP’s revenue is generated through customer call-ins and it sees clear potential in growing traffic on its website and mobile platform.
CJ WOW SHOP is a joint venture collaboration between Media Prima Berhad and South Korea’s CJO Shopping Co Ltd (CJO), Asia’s No 1 TV Home Shopping operator.