NEW YORK, July 12 2011 (GLOBE NEWSWIRE) – Consumer Capital Group, Inc. OTCBB:CCGN - News) ("CCG" or the "The Company"), primarily engaged in the development and operation of its retailing website "Chinese Consumer Market Network,” which provides manufacturers and distributors a platform to promote and sell products and services directly to consumers in China, yesterday introduced its new online retail website business in the United States at ceremony at the Hilton Hotel in San Gabriel, California.
With the inauguration of its latest e-commerce platform, CCG looks to facilitate both online and offline transactions made through the Company’s website by increasing the breadth of sales channels for manufacturers, providing merchants with more opportunities to gain non-operating income, enhancing the value-added consumption feature for consumers as well as operators and fostering a new growth point for the Company’s debit card program. In particular, CCG expects its new website will develop the value-added features of the Company’s business model, as its new online platform incorporates CCG’s online business with its debit card program in a concerted effort to better reward consumers who use CCG’s debit card for purchases on the Company’s website as well as select other online and offline retail transactions.
Jack Gao, CCG’s chairman and CEO, outlined the Company’s plans and expectations for its new website, “Consumers can use CCG debit cards to make payment for online shopping conducted through our website and by doing so, they can earn points that can be exchanged for cash rewards. CCG cardholders can use our debit card to make purchases from any of our signed merchants throughout the world. Our new online platform utilizes a point of sales approach wherein our offline distribution system will reallocate and deposit cash awards into our consumers’ CCG debit cards. We anticipate that this strategy will expand sales conducted through our website, increase non-operating income for our merchants and most importantly, increase the popularity of CCG. We are confident that this incentive-based program will attract more consumers to our online platform.”
About Consumer Capital
Consumer Capital provides an online marketing and retail platform for a broad range of manufacturers and distributors to promote and sell products as well as services directly to Chinese consumers at a discount through its rewards and incentive programs. This platform eliminates the extended network of intermediaries in the manufacturing-distribution-retail chain by providing direct access to the Company’s members. Consumer Capital’s website also provides access to certain Western products that are generally unavailable in China, such as handbags and eyewear made by U.S. companies and food and beverage products from Spain, Germany, and France. Sellers use the Company’s website to advertise and sell their goods, manage customer data, and track orders and shipments. Consumers shop online and pay for products and services through the system. Consumer Capital does not buy, hold, or sell any inventory. The system escrows payments for the goods until the consumer uses the system to indicate that the order was satisfactorily fulfilled. The Company’s website is located at: www.ccmus.com.
Safe Harbor Statements
This press release contains forward-looking statements made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements are based upon the current plans, estimates and projections of Consumer Capital’s management and are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in China, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: business conditions in China, general economic conditions; geopolitical events and regulatory changes, availability of capital, changes in the agricultural industry, the Company's ability to maintain its competitive position. Additional Information regarding risks can be found in the Company's Annual Report on Form 10-K and in the Company's recently filed Prospectus filed pursuant to Rule 424(b)(3) with the SEC.
Mr. Kevin Fickle
NUWA Group, LLC
Consumer Capital Group