Webuy Launches Travel Business in Indonesia

Singapore, May 15, 2024 (GLOBE NEWSWIRE) -- Webuy Global Ltd (NASDAQ: WBUY) ("Webuy" or the "Company"), a Southeast Asian community e-commerce retailer, today announced the launch of its travel business in Indonesia, as it expands its presence in the growing Southeast Asian tourism market.

Indonesia’s burgeoning middle class, which, according to data from the World Bank, is projected to make up 80% of the population by 2045, represents a significant and underserved market with considerable potential for new business ventures. This demographic shift is creating a new cohort of consumers seeking high-quality services and experiences, with travel being a prominent example.

Webuy's unique approach, which aims to seamlessly integrate online and offline elements, is ideally suited to cater to this emerging demand. For example, the Company's recently launched Mitra Referral Program ("Mitra") makes the referral process to connect to Mitra agents, who are similar to the Company’s group leaders, more straightforward, and facilitates streamlined connections between potential travelers and Webuy’s services. Once a referral is made, Webuy's dedicated team of tour consultants ensures that each customer's travel needs are met and their clients enjoy exceptional travel experiences customized to their individual preferences. Travel agents also benefit from a simplified referral process and receive an additional source of income.

The Company's travel business' inaugural trip was a six-day, four-night tour in Korea, which garnered an exceedingly positive response from its participants. A post-tour survey revealed 100% customer satisfaction, underscoring the tour's resounding success.

Vincent Xue Bin, Chief Executive Officer and Co-Founder of Webuy, commented, "I am delighted to see the positive trajectory of our travel service. We are capitalizing on the momentum of our successful package tour business in Singapore to further penetrate the rapidly expanding Southeast Asian tourism market. Our team of seasoned tour consultants and professionals provide exceptional support to referred clients, ensuring they receive excellent service and personalized solutions. Going forward, we will build on our momentum to further develop our community network and deliver sustainable shareholder value."