{"id":386625,"date":"2020-11-23T08:03:33","date_gmt":"2020-11-23T13:03:33","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=386625"},"modified":"2020-11-23T08:03:33","modified_gmt":"2020-11-23T13:03:33","slug":"cheers-e-mall-gmv-exceeds-370-yoy-to-reach-rmb141-million-for-11-11-shopping-festival","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cheers-e-mall-gmv-exceeds-370-yoy-to-reach-rmb141-million-for-11-11-shopping-festival\/","title":{"rendered":"CHEERS e-Mall GMV Exceeds 370% YoY to Reach RMB141 Million for 11.11 Shopping Festival"},"content":{"rendered":"<div class=\"mw_release\">\n<p>BEIJING, Nov.  23, 2020  (GLOBE NEWSWIRE) &#8212; Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) (\u201cGlory Star\u201d or the \u201cCompany\u201d), a leading mobile and online digital media and entertainment company in China, today announced that the Company achieved strong results during the 2020 11.11 Shopping Festival (the \u201cShopping Festival\u201d). During the Shopping Festival, the gross merchandise value (\u201cGMV\u201d) of the Company\u2019s CHEERS e-Mall online e-commerce platform grew by 370% as compared to the same period in 2019 to RMB141.0 million, order volume increased to 56,100, and daily active users (\u201cDAUs\u201d) exceeded 7 million.<\/p>\n<p>Representing an important change from previous years, CHEERS e-Mall decided to cooperate with Taobao and Tmall for the first time during this year\u2019s Shopping Festival. As part of this collaboration, CHEERS users were able to purchase a large number of first-rate goods from both Taobao and Tmall on CHEERS e-Mall using coupons and rebate rewards specifically designed for CHEERS users. During the Shopping Festival, more than 150 million Cheers users benefited from this cooperation, obtaining access to a wider selection of quality goods at affordable prices from around the globe. <\/p>\n<p>\n        <strong>Highlights From the 2020 11.11 Shopping Festival<\/strong>\n      <\/p>\n<ul>\n<li>The number of SKUs on CHEERS e-Mall exceeded 24,000 and included several renowned and high-quality domestic and foreign brands, including Estee Lauder, Givenchy, SK-II, La Mer, Apple, Huawei, TCL, Haier, and more.<\/li>\n<li>According to data from Glory Star, the provinces of Shandong, Guangdong, Hebei, Henan, Sichuan, and Jiangsu were the top six provinces in terms of transaction volume. Meanwhile, as a percentage of total GMV, GMV generated in third-tier cities and below exceeded 51.0%.<\/li>\n<li>According to Glory Star\u2019s data, female users accounted for more than 57.0% of total active users and became the primary consumer group, which led to higher sales in such categories as beauty and apparel, fashion goods, mobile phones, and home appliances. <\/li>\n<li>As of midnight on November 11, 2020, sales from commodity investments in gold previously launched in September 2020 reached RMB4.35 million. <\/li>\n<li>Sales from 3C products, such as Apple\u2019s iPhone 12 series and Huawei\u2019s Mate 40 series, household appliance brands, such as Sony, Toshiba, Samsung, Philips, TCL, and Haier, and cosmetics brands, such as Estee Lauder and SK-II, all increased significantly as compared to same period of 2019.<\/li>\n<\/ul>\n<p align=\"justify\">Mr. Bing Zhang, Founder and Chief Executive Officer of Glory Star, said, \u201cWe executed several new initiatives to achieve terrific results during this year\u2019s 2020 11.11 Shopping Festival. In light of these successes, we will continue to pursue more innovative cooperation models, unlock the potential of new content-based consumption scenarios, and provide our users with more high-quality and convenient goods and services at the most competitive prices. Meanwhile, we also aim to better meet the aspirations of our users and customers for a better life, while further promoting a consumption upgrade throughout the broader society.\u201d<\/p>\n<p align=\"justify\">\n        <strong>About Glory Star New Media Group Holdings Limited<\/strong><br \/>\n        <br \/>Glory Star New Media Group Holdings Limited is a leading mobile entertainment operator in China. Glory Star\u2019s ability to integrate premium lifestyle content, including short videos, online variety shows, online dramas, live streaming, its Cheers lifestyle video series, e-Mall, and mobile app, along with innovative e-commerce offerings on its platform enables it to pursue its mission of enriching people\u2019s lives. The company\u2019s large and active user base creates valuable engagement opportunities with consumers and enhances platform stickiness with thousands of domestic and international brands.<\/p>\n<p align=\"justify\">\n        <strong>Safe Harbor Statement<\/strong><br \/>\n        <br \/>Certain statements made in this release are \u201cforward looking statements\u201d within the meaning of the \u201csafe harbor\u201d provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words \u201cestimates,\u201d \u201cprojected,\u201d \u201cexpects,\u201d \u201canticipates,\u201d \u201cforecasts,\u201d \u201cplans,\u201d \u201cintends,\u201d \u201cbelieves,\u201d \u201cseeks,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201cfuture,\u201d \u201cpropose\u201d and variations of these words or similar expressions\u00a0 (or the negative versions of such words or expressions ) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company\u2019s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting our profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; and other factors listed in the Company\u2019s Annual Report on Form 10-K for the year ending December 31, 2019 and in other filings made by the Company with the Securities and Exchange Commission from time to time. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Such information speaks only as of the date of this release.<\/p>\n<p align=\"justify\">\n        <strong>Contacts<\/strong><br \/>\n        <br \/>Glory Star New Media Group Holdings Limited<br \/>Yida Ye<br \/>Email: yeyida@yaoshixinghui.com<\/p>\n<p align=\"justify\">ICR LLC.<br \/>Sharon Zhou<br \/>Tel: +1 (646) 308-0546<br \/>Email: gsnm@icrinc.com<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5MDUyMiMzODM5NDk0IzUwMDA1MDQ3OQ==\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/66f47b38-515f-42d0-8932-15f26f79eb9b\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>BEIJING, Nov. 23, 2020 (GLOBE NEWSWIRE) &#8212; Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) (\u201cGlory Star\u201d or the \u201cCompany\u201d), a leading mobile and online digital media and entertainment company in China, today announced that the Company achieved strong results during the 2020 11.11 Shopping Festival (the \u201cShopping Festival\u201d). During the Shopping Festival, the gross merchandise value (\u201cGMV\u201d) of the Company\u2019s CHEERS e-Mall online e-commerce platform grew by 370% as compared to the same period in 2019 to RMB141.0 million, order volume increased to 56,100, and daily active users (\u201cDAUs\u201d) exceeded 7 million. Representing an important change from previous years, CHEERS e-Mall decided to cooperate with Taobao and Tmall for the first time during this year\u2019s Shopping Festival. As &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cheers-e-mall-gmv-exceeds-370-yoy-to-reach-rmb141-million-for-11-11-shopping-festival\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;CHEERS e-Mall GMV Exceeds 370% YoY to Reach RMB141 Million for 11.11 Shopping Festival&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-386625","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CHEERS e-Mall GMV Exceeds 370% YoY to Reach RMB141 Million for 11.11 Shopping Festival - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cheers-e-mall-gmv-exceeds-370-yoy-to-reach-rmb141-million-for-11-11-shopping-festival\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CHEERS e-Mall GMV Exceeds 370% YoY to Reach RMB141 Million for 11.11 Shopping Festival - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"BEIJING, Nov. 23, 2020 (GLOBE NEWSWIRE) &#8212; Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) (\u201cGlory Star\u201d or the \u201cCompany\u201d), a leading mobile and online digital media and entertainment company in China, today announced that the Company achieved strong results during the 2020 11.11 Shopping Festival (the \u201cShopping Festival\u201d). During the Shopping Festival, the gross merchandise value (\u201cGMV\u201d) of the Company\u2019s CHEERS e-Mall online e-commerce platform grew by 370% as compared to the same period in 2019 to RMB141.0 million, order volume increased to 56,100, and daily active users (\u201cDAUs\u201d) exceeded 7 million. Representing an important change from previous years, CHEERS e-Mall decided to cooperate with Taobao and Tmall for the first time during this year\u2019s Shopping Festival. 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During the Shopping Festival, the gross merchandise value (\u201cGMV\u201d) of the Company\u2019s CHEERS e-Mall online e-commerce platform grew by 370% as compared to the same period in 2019 to RMB141.0 million, order volume increased to 56,100, and daily active users (\u201cDAUs\u201d) exceeded 7 million. Representing an important change from previous years, CHEERS e-Mall decided to cooperate with Taobao and Tmall for the first time during this year\u2019s Shopping Festival. 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