Press Releases
MyBuys’ Momentum and Leadership Thrive, Company Enters Fourth Quarter with 50 Additions to Client Roster
More Retailers Turn to Personalized Product Recommendations to Help Weather Economic Climate
Redwood City, CA—October 21, 2008—MyBuys, the leading provider of personalized product recommendations, today announced it has increased its market share even further. In the third quarter - typically a slow period for online retail - MyBuys continued to grow its installed base and enters the fourth quarter with 50 new online retail clients year to date. Additionally, the company expanded its portfolio of strategic alliances with 15 partners who enthusiastically recommend MyBuys as a preferred vendor.
Adding more merchants from the distinguished Internet Retailer Top 500 list to its client roster in the third quarter, MyBuys cemented its lead in the personalization market.
“We are thrilled that our pay-for-performance market-leading services will equip more retailers to weather the potentially rough quarter ahead. In this changing macro-economic climate, retailers must reprioritize their projects to focus on cost containment and top line revenue,” said Robert Cell, CEO MyBuys.”Maximizing conversion rates and average order value are key strategies for online retailers this holiday season, and MyBuys delivers an immediate 10% increase in online revenue.”
Essential Apparel, a new MyBuys client as of the third quarter of 2008, has already experienced outstanding results. “Personalizing our website with MyBuys has made a measurable difference in our business” said Bob Mayer, President, Essential Apparel, “Our email conversion rates have more than doubled, AOV is up 40%, and site conversion has increased exponentially. MyBuys’ strong results combined with its performance-based model make it a win-win technology heading into what could be a bleak holiday season for unprepared retailers.”
New clients added in the third quarter further deepen MyBuys’ expertise in several retail verticals, including luxury goods, books, apparel, sporting goods, and cosmetics.
About MyBuys
MyBuys is the leading provider of personalized product recommendations for online retailers. The company builds deep profiles based on each individual shopper's behavior, then uses a patented portfolio of algorithms and real-time optimization to deliver the most relevant recommendations. MyBuys' clients are increasing average order value by 45%, improving conversion rates by 90%, and multiplying the lifetime value of every customer. Premier retailers—including Lancôme, SKECHERS, Golf Galaxy and Karmaloop—partner with MyBuys to offer intelligent, personalized recommendations to their shoppers. Based in Redwood City, Calif., MyBuys is a privately held company. www.MyBuys.com.
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Emily Borders
Borders + Gratehouse
415.963.4174
emily@bordersgratehouse.com