Press Releases
Remarkable Growth Further Defines MyBuys’ Market Leadership in Personalization Innovation and Delivery
Company Achieves Record Growth in H1 2008, Delivers Even Stronger Results to Top Retailers
Redwood City, CA.—July 15, 2008—MyBuys, the leading provider of personalized product recommendations, today announced the achievement of many accomplishments that propel it into the second half of 2008. MyBuys increased its market share, nearly doubling its client base in just six months while delivering even more impressive results for its base of top retailers. With the addition of over 30 new clients, the majority of whom are recognized as leaders on the Internet Retailer Top 500 List, the company’s growth in the first half of the year further establishes MyBuys as the market leader in the personalized product recommendation space.
“Our success in the first half of the year distinguishes our leadership in personalized product recommendations,” said Robert Cell, CEO of MyBuys. “Requiring little investment, MyBuys makes it very easy for retailers to generate additional revenue despite a precarious retail environment. Our tremendous growth is a direct response to our clients’ positive reception to our services, and the market has been very responsive in turn.”
In addition to reporting its own company momentum, MyBuys announced an increased impact on its clients' bottom line. The company reports that, on average, its clients are increasing AOV 45 percent and conversion rates 90 percent, with the highest individual AOV increase reaching 105 percent and the highest conversion rate reaching 150 percent.
Goldspeed.com, the Internet’s largest discount jeweler and a new MyBuys client as of the second quarter of 2008, looks to MyBuys’ personalization services to drive incremental revenue. “Seeking ways to satisfy customers while increasing revenue in a tight economy led us to select MyBuys,” said Neil Kugelman, CEO of Goldspeed.com. “MyBuys offers a painless way for retailers to begin differentiating themselves to consumers through personalization, making it easy for shoppers to purchase more products they seek.”
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 percent, improving conversion rates by 90 percent 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