MediaNet Group Technologies, Inc. Launches New Shopping Mall Platform in GermanyBOCA RATON, FL--(Marketwire - February 8, 2011) - MediaNet Group Technologies, Inc. (OTCBB: MEDGE) today announced it has launched its new shopping mall platform in Germany, a new market for the company's shopping mall concept.
The new shopping mall platform is based on a price comparison model and uses sophisticated Business Intelligence to create a personal shopping experience, based on historic and relevant results. This new search technology allows the Company to take advantage of changing consumer behaviors and will enable additional targeting, demographic and data mining capabilities. The shopping mall also has its own recommendation engine that captures and remembers where a consumer shops, their individual shopping preferences and recommends additional products and services from both the shopping mall and the auction to provide an all-encompassing consumer shopping experience. The shopping mall also offers a number of user features including "Price Alerts," Customer "Wish Lists" and "Auction Alerts" for related products. The German shopping mall includes only German language merchants who sell their products in Euros.
Michael Hansen, President and Chief Executive Officer of MediaNet Group stated, "Today marks an additional evolutionary step in the growth and development of MediaNet. The new shopping platform and its technology methodology will allow us to replicate into new countries around the world. Germany has been a robust market for DubLi Network and DubLi.com which made our decision to launch the new mall platform for our German audience simple. As we have in Germany, the new shopping mall will allow us to apply a local area focus with local merchants and currencies to our growing base of operating countries. We expect to begin the rollout of the new shopping mall platform into other key markets during our third fiscal quarter starting with the US and Canada, followed by Australia."
Mr. Hansen continued, "Offering the shopping mall in conjunction with the reverse auctions and Entertainment concepts allows consumers a one-stop-shop for all their shopping and entertainment needs. Our ability to track each user's history and experience on our sites will further our efforts to capture additional discretionary spending from not only our current base of customers but also from those new customers who are introduced to DubLi with every new day."
