BEIJING, Nov. 27, 2013 (GLOBE NEWSWIRE) -- eFuture Information Technology Inc. (Nasdaq:EFUT) (the "Company" or "eFuture"), a leading provider of software and services in China's rapidly growing retail and consumer goods industries, held an exhibition with WOWO Convenience Store at the 15th China Retail Industry Convention, led by the CCFA (China Chain Store Franchise Association). The event was attended by over 2800 visitors and more than 1000 retailers, and the Company displayed their myStore platform through WOWO's ChinaShop, an offline-to-mobile (O2M) offering.
The display marked China's brand new omni-channel experience store that connects online stores, physical stores and social networks to each other, and presented a brand new future for the retail industry in China. The mobile app that attendees could download enabled users to select and purchase WOWO products from both online and offline stores, discover the latest information about their selections and make purchases, all with a few taps on the screen. They were also able to use the app to swipe the QR code of a WOWO product that caught their eye, and from there they could learn more about the product or make a purchase. Retailers can in turn use QR codes to offer coupons, discounts, and other promotions.
"Consumers are about to ignite another revolution in the retail industry," said Mr. Dehong Yang, President of eFuture. "The future will rely on cloud computing to provide a truly personalized shopping experience, and the model embodied in ChinaShop, which greatly reduces the cost of services in several ways while meeting all the increasing demands of the modern consumer for customization and convenience, has been designed to fully harness this new wave of technology."
Adam Yan, Chairman and Chief Executive Officer, commented on the launch. "Demonstrating the first omni-channel store in China is an important milestone as this is quickly becoming a mainstream feature in the global m-commerce industry. myStore-driven omni-channel solutions will be a real game changer for retailers in China as it will level the playing field for those who do business purely through e-commerce, and will accelerate the transition from online to social-mobile business."
"Our involvement in exhibitions such as these bolsters eFuture's core business and future initiatives," Mr. Yan concluded, "as it allows us to expand our regional presence and sales capabilities to increase the number of key clients, and ensures that our total solutions help us grow our relationships with existing clients."
A summary of the event, along with pictures, can be found on eFuture's website: http://www.e-future.com.cn/news_details.php?nid=839&lanmuid=1
ABOUT EFUTURE INFORMATION TECHNOLOGY INC.
eFuture Information Technology Inc. (Nasdaq:EFUT) is a leading provider of software and services in China's rapidly growing retail and consumer goods industries. eFuture provides integrated software and services to manufacturers, distributors, wholesalers, logistics companies and retailers in China's front-end supply chain (from factory to consumer) market, especially in the retail and fast moving consumer goods industries. For more information about eFuture, please visit http://www.e-future.com.cn.
ABOUT WOWO
Founded in 2005, WOWO Incorporation is one of the leading convenient store operators in Sichuan, with nearly 300 stores, central kitchens and logistics centers in Chengdu, the capital of Sichuan province in Southwest China.
SAFE HARBOR
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. eFuture may also make written or oral forward-looking statements in periodic reports to the Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to second parties. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: eFuture's anticipated growth strategies; eFuture's future business development, results of operations and financial condition; expected changes in the Company's revenue and certain cost or expense items; eFuture's ability to attract clients and leverage its brand; trends and competition in the software industry; the Company's ability to control expenses and maintain profit margins; the Company's ability to hire, train and retain qualified managerial and other employees; the Company's ability to develop new software and pilot new business models at desirable locations in a timely and cost-effective manner; the performance of third parties under contracts with the Company; the expected growth of the Chinese economy software market in retail and consumer goods industries; and Chinese governmental policies relating to private managers and operators of software and applicable tax rates. Further information regarding these and other risks will be included in eFuture's annual report on Form 20-F and other documents filed with the SEC.