Airport City, Israel, July 16, 2020 – My Size, Inc. (the “Company” or “My Size”) (NASDAQ: MYSZ) (TASE: MYSZ), the developer and creator of smartphone measurement solutions, announced today that June 2020 size recommendations for MySizeID exceeded 1.3 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 1.3 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.”
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About My Size, Inc.
My Size, Inc. (TASE: MYSZ) (NASDAQ: MYSZ) has developed a unique measurement technology based on sophisticated algorithms and cutting-edge technology with broad applications including the apparel, e-commerce, DIY, shipping and parcel delivery industries. This proprietary measurement technology is driven by several algorithms which are able to calculate and record measurements in a variety of novel ways. To learn more about My Size, please visit our website: www.mysizeid.com. We routinely post information that may be important to investors in the Investor Relations section of our website. Follow us on Facebook, LinkedIn, Instagram and Twitter.
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Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results to differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company’s filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
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