Join Our Feed For Up To Date Penny Stock News
Jul 31, 2008 10:30:00 AM
ATLANTA, GA -- (MARKET WIRE) -- 07/31/08 -- Medspas of America, Inc. (PINKSHEETS: MEDP) -- U.S. Market Penetration is imperative to Medspas overall success and we've made significant progress on this front. Our approach has been centered on evaluating multiple merger and acquisition targets by identifying specific fiscal risk factors which include the following criteria: Quantify liabilities, assess historical performance, determine the competitive advantage, and most importantly in selecting the correct demographic locations. "We are confident in our completed assessments and are moving forward to finalizing agreements with several candidates," stated CEO Paul Smith.
Capturing the correct mixture of market share is crucial and we feel we're on the right track. The Online Retail Channel will be perfectly complemented by our physical presence throughout the United States. Research from the Luxury Institute supports our business model which surveyed a sample group representing a demographic slice of American households with a minimum net worth of $750,000 (including home equity) and at least $150,000 in annual income. The median income for this group was $314,000, and median net worth came out to $2 million. Research concluded that the economic elite first choose the Internet in dealing with providers of luxury goods and services, beating out other channels, such as the telephone, face-to-face visits, and mail. In fact, 37% of wealthy consumers prefer buying luxury services on the Internet, compared with 30% who would rather do so in person and 21% who prefer the phone.
Wealthy consumers especially appreciate being able to research companies and offerings online. A resounding 88% of wealthy consumers cite a preference for using the Internet and e-mail to research luxury-services firms, and 85% prefer these channels for learning more about a particular service. In luxury goods, nearly 80% of the consumers surveyed turn first to the Internet or e-mail to learn about companies and their products. A resounding 93% of individuals worth $10 million or more have purchased a luxury product over the Internet in the past 12 months, and nearly 75% of the wealthiest made online purchases of luxury services. "Revenues fuel expansion and our online retail division is the catalyst for Medspas growth," stated CEO Paul Smith.
The company would also like to reiterate that there is no 504-D offering as we remain committed to protecting shareholder value.