My Size Projects One Million Size Recommendations for MySizeID in the Month of June

Rhea-AI Summary

My Size, Inc. (NASDAQ: MYSZ) announced on June 17, 2020, that its MySizeID solution is projected to achieve one million size recommendations for June. The company reported an 800% increase in monthly traffic over four months. MySizeID allows users to obtain size recommendations based on their personal measurements taken via smartphone sensors, enhancing online shopping experiences. CEO Ronen Luzon emphasized the significant growth potential, noting that current user penetration is only 1%-7% on client websites. Despite COVID-19 delays, My Size aims for 20 million recommendations in 2020.

Positive

• Projected 1 million size recommendations for June 2020.
• 800% increase in monthly traffic over the past four months.
• Current user penetration of 1%-7% indicates significant growth potential.
• Demonstrated ability to increase clients' revenues and reduce operating costs.

Negative

• Delays due to the COVID-19 pandemic may impact projections.

AIRPORT CITY, Israel, June 17, 2020 /PRNewswire/ -- 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. 

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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."

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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.

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

View original content:http://www.prnewswire.com/news-releases/my-size-projects-one-million-size-recommendations-for-mysizeid-in-the-month-of-june-301078560.html

SOURCE My Size Inc.

FAQ

What is the stock symbol for My Size, Inc.?

The stock symbol for My Size, Inc. is MYSZ.

How many size recommendations does My Size project for June 2020?

My Size projects one million size recommendations for June 2020.

What increase in monthly traffic has My SizeID experienced?

My SizeID has experienced an 800% increase in monthly traffic over the past four months.

What is MySizeID's user penetration on client websites?

MySizeID's user penetration on client websites ranges from 1% to 7%.

How many total size recommendations does My Size aim for in 2020?

My Size aims to reach at least 20 million size recommendations in 2020.