- The company’s strategy focuses on access points for next-generation technology-enabled convenience by merging fintech and big data analytics to get valuable consumer data
- GoLogiq will leverage its existing Big Data performance analysis platform to increase its Vietnamese initiatives, transforming customer data insights into fintech products and services
- GoLogiq will announce further details when expanding its hybrid model in Vietnam
NEW YORK, July 14, 2022 (GLOBE NEWSWIRE) – GoLogiq, Inc. (OTC: GOLQ) (“the company”), a global provider of mobile fintech solutions for digital transformation and consumer data analysis in Southeast Asia, unveiled today expanded strategy to distribute advanced technologies, next-generation fintech services and data analytics to the Vietnamese market through convenient retail.
SE Asia and Vietnam: Ideal FinTech Markets
Southeast Asia is a leader in technology implementation compared to the western world. From the 1990s, when their economies shifted from agriculture to industrial, they circumvented the development of national analogue copper wire telephone systems in favor of nationwide mobile systems – and drew hundreds of millions of people directly into the beginning of the digital age. Today, these consumers demand that retailers use the latest technology to create a seamless, fast, one-stop and secure shopping experience.
Vietnam has a population of 104 million, making it the world’s 16thth most populous nation. In 2022, it has one of the fastest growing economies in SE Asia with strong GDP growth (forecast to grow 6.5% in 2022 and 6.7% in 2023) based on the recent Asian Development Bank’s Vietnam report, with estimates growth in retail sales of 10.13% from 2022 to 2026 was partly driven by the growing demand for ready-to-eat food products.
According to an industry analyst report from January 2022, “With a significantly high proportion of those without bank and subbank, along with increasing mobile phone connection (150% of the population), Internet penetration (70%) and 3G and 4G registration (45%) , Vietnam remains largely an untapped market and a promised land for fintech investors.Analysts at Bain Capital estimate, ‘If Southeast Asia reaches its full potential, digital financial services could expand to $ 60 billion in revenue by 2025.’
Provide hyper-local convenience, FinTech for millions of growing middle-class consumers
The Vietnamese middle class is growing rapidly with customer needs shifting towards more frequent shopping, convenience, home delivery, premium brands, healthy cooked food and a wider range of retail offerings. The convenience store industry in Vietnam is under-penetrated with room for rapid growth given the growing middle class and changing consumer demands.
GoLogiq is in active negotiations to collaborate, acquire, build or form a business combination to secure a network of physical and mortar convenience stores to create a convenience platform that will serve as its hybrid Direct-to-Consumer (D2C) business model foundation. The company plans to distribute the solid technological foundation it launched in Singapore and Indonesia to launch the technology-driven D2C initiative in Vietnam. Their strategy merges the next generation of fintech with the existing Big Data AI analytics capability to market directly to consumers through a distribution platform for a grocery store in Vietnam. The initiative aims to provide hyper-local convenience to millions of the growing middle class of consumers who want an enhanced retail experience.
GoLogiq customer data to enable a differentiated, enhanced consumer experience
GoLogiq’s strategy is to use advanced analytics technology on data collected from its physical users to provide a superior, differentiated in-store experience that can also serve as an entry point for consumers seeking fintech services ranging from financing to alternative digital payment methods.
The real-time processing of increased amounts of consumer transaction data provides valuable insight into consumer behavior patterns that GoLogiq plans to use to improve the customer experience, product range, supplier relationships and AI predictive inventory management – achieve efficiency and attract even more customers – in a vicious circle.
GoLogiq’s suite of value-added services and next-generation services
GoLogiq is actively planning the integration of several innovative, synergistic services in its convenience store platform to offer an industry-leading suite of services, including:
- Biometric technology, such as face recognition at the point of purchase, to seamlessly optimize payments, accelerate customer acquisition and increase big data aggregation, while offering customers a state-of-the-art experience.
- Convenient financial services for both the consumer and the retailer that span loyalty programs, prepaid services, cryptocurrencies and alternative digital payment options to circumvent credit card exchange fees.
- A logistics system to use these stores as hyper-local “final-mile” department stores to offer convenient home delivery to customers within hours or minutes of their order compared to days for standard competitor-fulfillment programs.
- Precision just-in-time inventory management, which is essential for lower costs, fresher products and 100 percent available in stock to meet the ever-changing product requirements of the Vietnamese customer.
- Additional services ranging from specialty stores to health-related products and services.
CEO comment
Matt Brent, CEO of GoLogiq, said: “Our goal has always been to provide the next generation of technology solutions that meet the needs of businesses and consumers in Southeast Asia. I am pleased to outline highlights of some of the opportunities we pursue in Vietnam with our expanded, hybrid business strategy.
«Our team has extensive operational experience in SE-Asia. Since the end of 2021, we have analyzed the Vietnamese fintech sector and determined that convenience stores are a popular and underutilized means of connecting directly, locally, with potentially millions of geographically diversified customers enabling us to scale our business cost-effectively, »la he to. “By integrating into internationally recognized brands for grocery stores, we get a built-in audience for recurring payments and loyalty programs – accelerating the growth of our fintech solutions and significantly reducing our customer acquisition and marketing costs. Our older analysis capacity enables us to generate valuable insights to improve our digital service offerings as well as improved delivery of products and services for physical and mortar stores.
“To implement our strategy in Vietnam, we have evaluated transactions and are in active discussions with potential strategic partners, senior executives and consultants and potential growth capital investors,” concluded Mr. Brent. “We expect to have more material updates for our shareholders very soon.”
About GoLogiq
GoLogiq Inc. is a US-based global provider of fintech and mobile solutions for digital transformation and consumer data analysis in Southeast Asia. The company plans to expand a network of convenience stores in Vietnam that will serve as a D2C marketing and distribution platform for its growing range of next-generation fintech services. In Indonesia, its old business consists of three main software platforms, including CreateApp, a mobile app development and publishing platform for small to medium-sized businesses; AtozGo ™, a ‘hyperlocal’ app-based delivery platform; AtozPay ™, an e-wallet for mobile replenishment, e-commerce purchases, bill payment and microfinance; and Radix ™, the Big Data analytics platform.
Important warnings regarding forward-looking statements
This press release contains certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to Safe Harbor created by those sections. This press release also contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation that is related to Logiq’s current expectations and views on future events. All statements that express, or involve discussions about, expectations, beliefs, plans, goals, assumptions or future events or achievements (often, but not always, through the use of words or phrases that “are likely to result”, “are expected to”, ” expect “,” will continue “,” anticipate “,” assume “,” believe “,” estimate “,” intend “,” plan “,” forecast “,” projection “,” strategy “,” objective “and “prospects”) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties that may cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct, and such forward-looking statements included in this press release should not be relied upon unduly.
These statements apply only as of the date of this press release. Future-oriented statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond GoLogiq’s control, which may lead to actual results and events deviating significantly from those disclosed in or implied by such. forward-looking statements. Specifically and without limitation, this press release contains forward-looking statements regarding our products and services, the use and / or ongoing demand for our products and services, expectations regarding our revenue and the revenue-generating potential of our products and services, our partnerships and strategic alliances, the impact of global pandemics ( including COVID-19) on the demand for our products and services, industry trends, general market growth, our growth strategies, the continued growth of addressable markets for our products and solutions, our business plans and strategies, the opportunity to get FINRA approval of our name change to GoLogiq , Inc., our ability to successfully locate and complete any considered strategic transactions, the structure of such a transaction, the timing of such a transaction and the valuation of businesses after completion of such a transaction, if any, and other risks described in the Cape’s previous press releases. your submissions to the Securities and Exchange Commission (SEC) including the annual report on Form 10-K and any subsequent public submissions.
GoLogiq undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for GoLogiq to predict all of them, or to assess the impact of each such factor or the extent to which a factor, or combination of factors, may cause the results to differ materially from those contained. in any forward-looking statement. Any forward-looking statements in this press release are expressly qualified in their entirety by this cautionary statement.
Business contact
Matt Brent, CEO of GoLogiq
[email protected]
Media and investor contact
Chris LaCoursiere
[email protected]
207-595-2508
