AIRPORT CITY, Israel,
July 16, 2020 /PRNewswire/ -- 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 1.2 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."
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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.
Please click here for a demonstration of how MySizeID
provides a full sizing solution for the retail industry.
Register here for a one-month free trial of MySizeID solution
for your online store.
Please click here to download MySizeID for iOS.
Please click here to download MySizeID for Android.
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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U.S. Press Contact:
5W Public Relations
mysizeid@5wpr.com
IR Contact:
Crescendo Communications, LLC
Tel: +1 212-671-1020
Email: MYSZ@crescendo-ir.com
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SOURCE My Size Inc.