Providing a trusted tool for sellers to consolidate and manage their distribution strategies through an easy-to-use platform
HONG KONG, Oct. 19, 2022 (GLOBE NEWSWIRE) -- GigaCloud Technology Inc (Nasdaq: GCT) (“GigaCloud” or the “Company”), a pioneer of global end-to-end B2B ecommerce solutions for large parcel merchandise, today announced that the Company unveiled its new private domain feature for sellers on its B2B GigaCloud Marketplace (“GigaCloud Marketplace”) on October 13, 2022. Users of GigaCloud Marketplace can now to share their products with existing or potential customers via a personal GigaCloud web-hosted platform. This private domain is designed to provide marketplace sellers the flexibility of sharing all their listings available on the GigaCloud Marketplace without customers viewing other supplier products.
Dr. Iman Schrock, President of GigaCloud, stated the importance of continually refining customer service, “At GigaCloud, we’re never complacent with our customer service offerings. We strive to find opportunities to better benefit our buyers & sellers by leveraging the technical advantage of our talented in-house IT department to bring ease when browsing or transacting on our marketplace. This private domain is a value-added service to ensure continued success for our sellers as our marketplace continues to flourish.”
Buyers (i.e., resellers) will be required to sign up to this domain to view the products and prices set by the seller, and in doing so, they will create a GigaCloud Marketplace account. However, buyers will not be able to see other product listing prices if they log into the GigaCloud Marketplace platform.
The private domain service provides an organized platform for sellers to integrate their distribution channels into one easy-to-use website. In addition, this service offers the same array of transaction and payment solutions as the GigaCloud Marketplace, which provides a comprehensive fulfillment service nationwide.
The GigaCloud Marketplace platform hosts over 450 active suppliers and enjoys an 86% seller retention rate (as of 2021), as the Company believes the key is “listening with all ears” to the seller and buyer marketplace community.
Mr. Larry Wu, Founder, Chairman of the Board of Director and Chief Executive Officer of GigaCloud, explained his reasoning behind launching the private website domain, “The idea of a private domain came up after speaking to our sellers regarding what we could do to better support them. These sellers can now actively market their B2B brands to existing and potential customers through our webhosting GigaCloud Marketplace. From what looks like an external platform, buyers will be shown seller-specified branding and prices without viewing competing products.”
The Company is confident that with private domain service, it will supply sellers with a superior service experience while simultaneously creating more GigaCloud Marketplace traffic.
About GigaCloud Technology Inc
GigaCloud Technology Inc is a pioneer of global end-to-end B2B ecommerce solutions for large parcel merchandise. The Company’s B2B ecommerce platform, which it refers to as the “GigaCloud Marketplace,” integrates everything from discovery, payments and logistics tools into one easy-to-use platform. The Company’s global marketplace seamlessly connects manufacturers, primarily in Asia, with resellers, primarily in the U.S., Asia and Europe, to execute cross-border transactions with confidence, speed and efficiency. The Company offers a truly comprehensive solution that transports products from the manufacturer’s warehouse to the end customer’s doorstep, all at one fixed price. The Company first launched its marketplace in January 2019 by focusing on the global furniture market and has since expanded into additional categories such as home appliances and fitness equipment. For more information, please visit the Company’s website: https://investors.gigacloudtech.com/.
Forward-Looking Statements
This press release contains “forward-looking statements”. Forward-looking statements reflect our current view about future events. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “could,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “propose,” “potential,” “continue” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.
For investor and media inquiries, please contact:
GigaCloud Technology Inc
Victor Neal
Email: investor.relations@gigacloudtech.com
Ascent Investor Relations LLC
Tina Xiao
Tel: +1-917-609-0333
Email: tina.xiao@ascent-ir.com
