My Size Exceeds Prior Forecast for MySizeID and Achieves Over 1.2 Million
Projects Over 2 Million Size Recommendations for July 2020
My Size, Inc., the developer and creator of smartphone measurement solutions, announced that June 2020 size recommendations for MySizeID exceeded 1.2 million, surpassing the previous forecast of one million size recommendations. MySizeID is projected to achieve another record month with over two million size recommendations anticipated for July 2020. Monthly size recommendations, as measured by the MySizeID engine, has more than doubled each month over the past five months.
MySizeID is a size-recommendation solution based on shoppers’ personal body measurements, taken with their smartphone sensors, without using the camera. My Size’s innovative technology enables consumers to measure themselves once using their smartphone and then be matched with brand-specific apparel items in their size.
Ronen Luzon, Chief Executive Officer of My Size, commented, “We are pleased to announce that we have exceeded our projected June 2020 MySizeID size recommendations, generating over 1.2 million unique size recommendations for the month. Over the past five-month period, we have seen size recommendations more than double each month. We also project that we will generate over 2 million size recommendations in July 2020, far surpassing what we achieved in June. This impressive uptake clearly illustrates our growing market penetration, both among existing retail clients and new apparel manufactures. We attribute this success to the clear value proposition of our technology, which increases shopper conversion and improves the retailers’ bottom line.”
Mr. Luzon continued, “Size recommendations are a useful gauge for us since our various pricing plans with our customers are generally based on Price Per Size Recommendations (PPSR), which vary between $0.01– $0.10, plus a yearly maintenance fee. The projected size recommendations represent a user penetration range of just 1%-7% among our customers’ respective websites, illustrating the growth potential of this sizable market. Despite the COVID-19 pandemic, we continue to see increased demand for MySizeID around the world among major retailers. As a result, we believe we are on track to reach at least 20 million size recommendations over the course of 2020, based on a combination of increased penetration of our existing customers and growing adoption of MySizeID among prospective customers within our existing pipeline.”