Webuy Achieves Record $2.9 Million in Sales within Just Three Days at NATAS Fair 2024
Singapore, Aug. 20, 2024 (GLOBE NEWSWIRE) -- Webuy Global Ltd. (NASDAQ:WBUY) ("Webuy" or the "Company"), a Southeast Asian community e-commerce retailer, today announced it generated a record $2.9 million in sales over three days at this year's NATAS Fair 2024, driven by its "Travel with Webuy" tour packages.
Webuy team at NATAS 2024
The NATAS Fair, organized by the National Association of Travel Agents Singapore (NATAS), is one of the largest and most influential travel and consumer fairs in Southeast Asia, regularly drawing around 100,000 visitors per event.
Vincent Xue Bin, Chief Executive Officer and Co-Founder of Webuy, stated, "We are extremely pleased with the positive reception and strong sales of our tour packages at the NATAS Fair 2024—illustrated by our unprecedented $2.9 million in sales within just three days. Building on our momentum from the NATAS Fair, we are aggressively expanding our high-margin travel offerings within the US$30 billion Southeast Asia travel and tourism market (Statista Market Insights). We remain extremely confident in the prospects for sales growth within this and other key product categories given our unique social e-commerce platform and group leader sales model, which provides us a cost-effective and highly scalable platform to drive significant returns for shareholders."
About Webuy Global Ltd
Webuy Global Ltd. (NASDAQ:WBUY) is an innovative, technology-focused company with a goal of building the most trusted retail brand and advanced e-commerce platform in Southeast Asia, designed to leverage data in order to provide a community-driven experience for consumers. The Company's unique 'group buy' business model is set to revolutionize traditional shopping practices by offering substantial cost savings to customers through an efficient purchasing model and community-centric approach. Akin to group purchases and bulk orders, this approach simplifies the process for customers, eliminating the need for individual bulk purchases. Furthermore, the Company's business model streamlines the traditional supply chain by minimizing the involvement of intermediaries, thereby offering a more direct "farm-to-table" supply model. The Company's vision is to enable the ten million families in Southeast Asia to live a healthier, higher-quality lifestyle. Additional information about the Company is available at http://webuy.global/.
Forward-Looking Statements
This press release contains forward-looking statements regarding the Company's current expectations. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. These risks and uncertainties are described more fully in the section captioned "Risk Factors" in the Company's registration statement on Form F-1 related to the public offering (SEC File No. 333-271604) and annual report on Form 20-F. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
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