Astro Malaysia Holdings Bhd declared that it would shut down its “Go Shop” home shopping business starting on 11 October.
The company cites the “challenging overall economic landscape and the changes in consumer shopping behaviour” as the reasons for the shutting down of a home shopping platform that has been in operation for more than eight years, according to The Edge Malaysia.
In 2015, Go Shop marked Astro Malaysia’s initial venture into the e-commerce realm, providing Malaysians with the convenience of shopping around the clock, regardless of location. Additionally, this home shopping platform extended its presence to Singapore and Brunei.
Astro added that “There has been a significant downturn in this mode of shopping since the Covid-19 pandemic and closure will ensure that Astro Malaysia’s resources are focused on business lines that contribute the biggest difference to the overall operations”.
The group, in collaboration with its Korean joint venture partner GS Retail Co Ltd (GSR), has jointly determined that Astro GS Shop Sdn Bhd (AGSS), the entity responsible for operating the home shopping business under the “Go Shop” brand, will cease its operations starting from 11 October.
AGSS is a joint venture with a 60% ownership stake held by Astro Malaysia through its wholly-owned subsidiary, Astro Retail Ventures Sdn Bhd (ARV), and a 40% ownership stake held by GSR.
Astro says “As part of the ongoing strategic realignment underway within Astro Malaysia, including the execution of significant cost-saving measures, both parties have taken the decision to exit the business”.