YOHO eCommerce unveils "YOHO AI Assistant" to Enhance Shopping Experience, Introduce "Best Deal Guarantee" to Train the Pricing Algorithm

HONG KONG, Mar 1, 2024 - (ACN Newswire) - Yoho Group Holdings Limited ("YOHO" or the "Group"; Stock Code: 2347), a leading e-commerce platform in Hong Kong, is pleased to announce that as a pioneer in Hong Kong's e-commerce landscape, it has been actively exploring the synergistic integration of AI technology with retail experience, with a commitment to revolutionizing the online shopping experience for every online consumer. To celebrate its 11th anniversary, the Group officially unveiled its AI e-commerce blueprint and launched YOHO AI Assistant, a personal AI shopping assistant on the YOHO platform, to comprehensively address customers' various shopping queries. In addition, in gratitude for the longstanding support and trust of its vast consumer base, YOHO is launching a citywide shopping promotion and activities with the theme "Best Deal Guarantee" during the 11th Anniversary Thanksgiving Festival to celebrate with its customers.

Exciting Debut of YOHO AI Assistant

YOHO AI Assistant serves as a personal AI shopping assistant for each customer, embodying the five core objectives of personalization, professionalism, convenience, efficiency, and cost-effectiveness. It is equipped to provide eight major shopping assistance functions, including comprehensive product information, personalized product search, insightful product comparisons, comprehensive price comparisons, aggregated product reviews, professional product recommendations, 24-hour customer service, and shopping reminders. These features will be rolled out and made available in phases. The YOHO team is dedicated to further enhancing the Group's AI strategy, integrating data across the entire platform to efficiently apply it to customer service, AI conversational shopping interactions, and other areas, with the aim of significantly improving the customer experience. For more details about YOHO AI Assistant, please visit https://bitly.ws/3ey2K.

YOHO Celebrates its 11th Anniversary Thanksgiving Festival with the Citywide "Best Deal Guarantee" Shopping Promotion

Since its inception, YOHO has adhered to the philosophy of "offering an extensive range of quality products at affordable prices". In 2019, the Group successfully developed an in-house "automatic pricing system" that utilizes an algorithm to determine the optimal pricing and discounts for products, thereby assisting consumers in making the most competitive shopping decisions. Marking its 11th anniversary, the Group has strategically introduced the "Best Deal Guarantee" offer. From 1 March to 31 March 2024, YOHO members who identify the same product available at a lower public price in another Hong Kong store within 24 hours of their purchase on the YOHO platform are eligible to apply a price difference refund of up to HK$1,000.

Furthermore, YOHO will host a 13-day citywide flash sale event starting from 1 March to 13 March 2024. An extensive selection of flash sale deals will be launched precisely at midnight each day, featuring selected themes from over 60,000 products. The categories include major appliances, mobile phones, computers, beauty and skincare devices, games, kitchen appliances, supplements and vitamins. Additionally, the Thanksgiving Festival will feature a special "Fixed Price $11" promotion, offering a variety of limited-quantity products at a flat rate of HK$11. In addition to the best price guarantee and flash sales, YOHO is partnering with Mastercard, BoC Pay, AlipayHK, and X Pay to offer various payment discounts, with savings of up to HK$500.

Ms. Kathy Tsui, Co-founder and Chief Operating Officer of Yoho Group, said, "Amid the complex and ever-changing external geopolitical and economic landscape, the Hong Kong economy still faces significant challenges that cannot be underestimated. YOHO is acutely aware of consumers' strong demand for products with great cost-effectiveness. Coinciding with the YOHO 11th Anniversary Thanksgiving Festival, we are genuinely launching a vast array of offers and privileges to reciprocate our customers' support. Additionally, as an e-commerce player persistently leveraging technology to enhance the shopping experience, we believe in the transformative potential of AI technology on the future retail ecosystem. Consequently, we are actively engaging with leading global AI firms to research and develop applications and integrations of AI technology. We are thrilled to announce the launch of the YOHO AI Assistant Beta version on 28 February, marking a pivotal milestone in the YOHO AI e-commerce blueprint. Looking forward, YOHO will further amplify our market strategy, embracing innovative thinking and technological advancements to provide an unparalleled intelligent shopping experience, with the ambition of expanding from a local Hong Kong e-commerce platform to the global market."

For more details on YOHO's 11th anniversary promotion, please visit https://bitly.ws/3exhY

About Yoho Group Holdings Limited (Stock Code: 2347)

Yoho Group Holdings Limited, Hong Kong's first B2C e-commerce company listed on the HKEX main board, operates on the online-merge-offline (OMO) business model. It has more than 1.1 million registered users and more than 2,290,000 monthly active users and offers a diverse product portfolio covering approximately 60,000 SKUs (with a focus on consumer electronics and home appliances). According to Frost & Sullivan 2020/21 data, Yoho ranked first as an e-commerce platform with a primary focus on consumer electronics and home appliances in Hong Kong in terms of website traffic and recorded the highest online retail sales of consumer electronics and home appliances among all Hong Kong e-commerce platforms.