Press Releases
MyBuys Reports Stunning 400% Growth for 2008
Personalization Leader Continues to Boost Online Revenue 5–20% for Retailers
Redwood City, CA—January 19, 2009—– MyBuys, the leading provider of personalized product recommendations (PPR), ), today announced it grew bookings and revenue 400% in 2008 versus 2007, and enters 2009 with a solid base of 100 clients, a partner ecosystem of over 20 best-in-class leaders, and is boosting overall online revenue an average of 5–20% across its base of premier online retailers.
“Our focus for 2008 was to rapidly grow our installed base of Web Recommendation clients as well as our unique Alert business,” said Bob Cell, CEO, MyBuys. “We have established ourselves as the only provider of a true cross-channel personalization service. Looking forward into 2009, the demand for our service will continue due to our growing base of clients who are pleased by the proven revenue lift from our service, which is implemented with no upfront fees.”
A new client as of Q4 2008, Wine Enthusiast launched Web Recommendations and e-mail Alerts with MyBuys just in time for the busy holiday shopping season. “We needed a complete end-to-end solution, from personalized recommendations to triggered, targeted e-mail Alerts in order to better serve our customers," said Francis M. Juliano, Chief Marketing and Information Officer, Wine Enthusiast. "We made the right decision in selecting MyBuys. Web Recommendations are converting at 9.8%, and e-mail Alerts are converting at 7.4%. Both are driving incremental revenue for us and we continue to see great performance. To stay ahead in 2009, a PPR strategy should be a vital part of any retailer's marketing plan.”
Analysts also see growing adoption of PPR solutions in 2009. The Forrester Blog for eBusiness & Channel Strategy Professionals predicts that PPR (or “predictive merchandising”) will become ubiquitous and a default feature on retailing websites. The blog also predicts that the crowd of solutions will begin to separate.
MyBuys continued to separate itself from competitors in 2008 by adding many more merchants from the distinguished Internet Retailer Top 500 list to its client roster, further solidifying its lead in the personalization market.
About Wine Enthusiast
Founded in 1979, Wine Enthusiast Companies is the world's number one source for wine cellars, accessories, storage, information, education, and events, and is a driving force in the marketplace. Over the last 25 years, this multi-faceted business has thrived along with America's ever-expanding enchantment with wine. Started as a direct mail business, Wine Enthusiast has published over 300 million catalogs. Today Wine Enthusiast successfully markets via direct mail, multiple internet sites and with our business-to-business division, bringing Wine Enthusiast products into retail stores throughout the nation. In 1988, Wine Enthusiast Companies founded Wine Enthusiast Magazine to bring consumers vital information on the wide world of wine plus hundreds of wine reviews in every issue. The magazine has grown to become the world’s largest periodical devoted exclusively to wine and spirits. Wine Enthusiast Magazine also hosts an ongoing series of consumer and trade wine tasting events led by Toast of the Town, a spectacular fine restaurant and wine exposition.
For more information please visit www.winenethusiast.com and www.winemag.com
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 boosting overall online revenue 5-20%. Premier retailers—including Lancôme, SKECHERS, Wine Enthusiast, 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.
Media Inquiries
Emily Borders
Borders + Gratehouse
415.963.4174
emily@bordersgratehouse.com