My Size, Inc. (the “Company” or “My Size”) (NASDAQ: MYSZ) (TASE: MYSZ), the developer and creator of smartphone measurement solutions, today announced that MySizeID is on pace for another record month and projects it will achieve one million size recommendations for June, 2020. Monthly traffic, as measured by the MySizeID engine, has increased 800% over the past four months.
MySizeID is a size-recommendation solution based on shoppers’ personal body measurements, taken with their smartphone sensors without using the camera and the retailer’s garment specs. My Size’s innovative technology enables consumers to measure themselves once using their smartphone and then be matched with a brand-specific apparel item in their size.
Ronen Luzon, Chief Executive Officer of My Size, commented, “We are pleased to announce that we are on track to achieve one million size recommendations for the month of June. Over a four-month period, we have seen an 800% increase of usage for MySizeID. Importantly, this represents a user penetration range of just 1%-7% of MySizeID technology on our customers’ respective websites, illustrating the significant growth potential even among our existing customers. As time goes on, we believe this number will grow rapidly as we add new retailers and apparel manufacturers, reflecting the increased marketing and awareness we are building around the technology and the way in which it enhances the consumers’ shopping experience.”
Mr. Luzon continued, “We continue to experience increased demand for MySizeID around the world among major retailers and consumers alike. By incorporating MySizeID into the eCommerce platform for large, middle, and small market retailers, we have repeatedly demonstrated our ability to increase our clients’ revenues and lower their operating. Despite some delays due to the COVID-19 pandemic, we believe we are on track to reach at least 20 million size recommendations over the course of 2020, based on a combination of usage by our current customers and assumed adoption of MySizeID by prospective customers in our existing pipeline. 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.”
