After 8 years, finally Astro Malaysia Holdings Bhd (Astro) announced that it will end Go Shop operations on 12 October 2023.
Astro GS Shop Sdn Bhd took the step with its joint venture partner from Korea, GS Retail Co Ltd (GSR) to stop the home shopping business.
This decision was made due to the challenging factors of the current uncertain economic landscape in addition to changes in the pattern of purchasing and spending activities of consumers.
Astro also stated that it is one of the restructuring strategies including the implementation of cost saving measures.
The company's earnings report for the second quarter ended July 31 has recorded a decline due to increased operating costs as well as losses on unprofitable foreign investments.
Previously it was also reported that Astro's business was affected due to a decrease in the number of user subscriptions as well as an increase in the cost of content.
There has been a significant drop in expenses since the Covid-19 pandemic hit and the closure will ensure Astro focuses on businesses that contribute significantly to the company's overall operations.
Go Shop started in 2015 when Astro expanded its business in e-commerce that allows Malaysians to shop anytime from home.
Astro takes this opportunity to say a million thanks to the customers who have supported them during this period of operation and also to the Go Shop team who have been dedicated to lifting the brand over the years.
