PLANO, Texas, July 5, 2012 /PRNewswire/ -- Globalgroup Investment Holdings (GIHI.PK), the nation's most recent proprietary technology solutions provider for payment and collection services announced the formation of "America's Layaway Mall" (ALM) online merchandise layaway shopping Center program. ALM will provide a viable online shopping alternative for fiscally challenged consumers by offering quality name brand products at affordable prices, regardless of household income, through credit alternatives and time-payment options. Utilizing GIHI proprietary GlobalLOK™ technology.
The ALM layaway initiative is not just a result of the current market conditions, but was spawned several years ago, when the need was recognized for the nearly 50 million credit-challenged and cash based households, to have the same access to online shopping convenience as consumers with credit cards. The new ALM layaway service will accept a wide variety of payment options that will be available to the public upon launch.
"The ability to layaway major purchases had been well publicized by major retailers in past decades but faded in popularity with the proliferation of credit card usage. Recently, many large retailers revived their layaway option on select merchandise but only for the holiday season. GIHI has determined that there is a significant need for year-round layaway services for consumers shopping not only for ordinary household goods but for other special occasions such as birthdays, anniversaries and graduations as well," stated Globalgroup Investment Holdings, Inc. President, Mr. Fred Rackers.
Revenues are forecasted to surge throughout the year as consumers begin to layaway purchases for special occasions along with the coming 2012 holiday season. Anticipated revenues for 2013 are anticipated to exceed $3,000,000. ALM will expand the choice of products and brands and commence roll out of the new selections which is scheduled for Q3. Selections will include major brands within electronics, computers, jewelry, toys, games, home&garden, household and other popular categories.
About Globalgroup Investment Holdings, Inc.
Through ALM, Globalgroup provides a viable online shopping alternative for fiscally challenged consumers by offering quality name brand products at affordable prices, regardless of household income, through credit alternatives and time-payment options. Globalgroup also offers technology solutions such as GlobalLOK™that addresses the computer payment collection challenges associated with rent to own, pay as you go and no-credit-check computer markets, and in other industries where remote PCs and laptops are deployed.
Forward-Looking Statement: This press release includes "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct.
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SOURCE Globalgroup Investment Holdings