PASADENA, Calif., June 7, 2011 (GLOBE NEWSWIRE) -- Consumer Capital Group, Inc. (OTCBB:CCGN) ("Consumer Capital" or 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, today announced that the Company has appointed NUWA Group as its investor relations advisor.
"We are delighted to have NUWA assist us with our corporate communications strategy," said Jianmin Gao, Chairman, CEO and CFO of Consumer Capital. "NUWA represents a variety of successful Chinese companies listed on US stock exchanges, including several businesses that focus on consumer products like our Company. We are confident that NUWA's expertise in branding as well as in media and investor outreach will enable us to better connect with shareholders, customers and partners."
Consumer Capital looks to enhance its public image in anticipation that the Company will claim a substantial portion of China's burgeoning e-commerce sector in the near future. Credit Suisse Group recently reported that China's GDP is continuing to grow around 9 percent a year on average and it estimated that China's e-commerce market size—worth approximately $70 billion in 2010—will increase to $311 billion by 2015. NUWA and Consumer Capital believe that the Company holds several distinct advantages over its competitors in China's e-commerce space.
"While the Company's chief competitors cater predominantly to consumer-to-consumer transactions, Consumer Capital employs a business-to-consumer approach," commented Kevin Fickle, President and CEO of NUWA. "Further distinguishing the Company from its competitors is its unique incentive and sweepstake programs, which enrich the experiences of the vendors and consumers that use the website. The incentive program constitutes a potent marketing mechanism for vendors and an indirect discount for consumers as it enables vendors to set the purchase price amount and consumers to receive back incentive points based on their membership level and purchasing history with the vendor. Additionally, vendors are awarded cash for successful referrals. Coupled with the sweepstakes program that lets members participate in daily cash drawings, these low cost programs effectively tap into the group-buying dynamic. Since the larger the volume of sales on a given day the greater the prize money, consumers are motivated to get their family and friends to become members of and make purchases through Consumer Capital's website."
In an effort to further differentiate the Company from its competitors, Consumer Capital launched a debit card program in January 2011. Fuxin City Bank is currently issuing co-branded cards with Consumer Capital's logo, cardholders may use the debit card to make electronic payments on the Company's website and receive discounts on other select retail transactions. The Company expects that its debits card program will generate substantial revenues from service and transaction fees. Currently, there are over 300,000 cardholders.
About Consumer Capital
Consumer Capital provides an online marketing and retail platform for manufacturers and distributors to promote and sell products and services directly to Chinese consumers at a discount through the Company's rewards and incentive programs. This platform eliminates the extended network of intermediaries in the manufacturing-distribution-retail chain by providing companies with direct access to the Consumer Capital's members. Vendors 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. The Company 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. Consumer Capital's website offers Chinese consumers direct access to a wide range of goods and brands previously available only in China's largest cities as well as Western products that are generally unavailable in China. The Company's product offerings cover 14 major categories of consumer goods—nutrition and health supplements, home furnishings, cosmetics and beauty, consumer electronics, culture and sports, consumer services, maternity, clothing and shoes, jewelry and accessories, travel, foreign goods, office supplies, household appliances, and education. Consumer Capital's website is located at: .
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 Report on Form 8-K.
CONTACT: Investor Contact: Mr. Kevin Fickle NUWA Group, LLC Tel: +1-415-525-8275 Email: Kevin@nuwagroup.com Mr. Kevin Ma NUWA Group, LLC Tel: +1-415-525-8275 Email: firstname.lastname@example.org Company Contact: Consumer Capital Group Tel: +1-626-568-3368 E-mail: email@example.com E-mail: firstname.lastname@example.org