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I Synergy Group nearly triples total sales transactions

Proactive Investors Wednesday, 18 October 2017
I Synergy Group (ASX:IS3) has increased its total sales transactions 184% to 142,000 in 1H2017 compared with 50,000 in 1H2016. The reason for the increase has been attributed to the strong performance of the company’s online retail affiliate program, SmartSaver. SmartSaver is an online shopping reward program in Malaysia owned and managed by I Synergy. SmartSaver is one of many programs offered in Malaysia by I Synergy on its proprietary affiliate marketing platform, Affiliate Junction. Affiliate Junction is used by advertisers in the marketing industry to connect with affiliates and facilitate commission payments from the advertisers to the affiliates. Recent entry into the growing Indonesia market During June 2017, I Synergy made its first move to expand outside of Malaysia by launching its first affiliate program in Indonesia, SmartSaver Indonesia. SmartSaver Indonesia is Affiliate Junction Indonesia’s first affiliate program under the retail segment. The online platform already promotes a total of 101 advertisers including Lazada Indonesia, Zalora Indonesia. I Synergy intends to capitalise on the large-scale potential growth of Indonesia’s e-commerce sector. According to McKinsey & Co., Indonesia’s digital economy is expected to contribute $150 billion a year to the nation’s gross domestic product by 2025. Other expansion target markets Outside of Indonesia, the company is also targeting the Australian and Filipino markets for expansion. The Philippines represents a significant market opportunity in the Southeast Asia market with a population of 103.3 million and the digital advertising sector is estimated to total US$244.8 million by the end of 2016. Australia had a GDP of US$1.205 trillion in 2016 which indicates Australian consumers have strong purchasing power making it another local attractive market. March 2017 IPO I Synergy raised $3.62 million through its initial public offering (IPO) which resulted in it listing on the ASX during late March 2017. Funds raised in the IPO were earmarked for international expansion plans, developing new technologies and sales and marketing. The company has set up regional offices in Australia and Indonesia with the intention of launching Affiliate Junction in these countries. READ: I Synergy Group pays maiden dividend as ASX company
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