Personalized Recommendation Leader Makes Online Shopping Even More Relevant and Profitable With the Release of MyBuys 3.3

Market Wire, February, 2008

MyBuys, the leading provider of personalized product recommendations, today announced significant enhancements to its service. The release of MyBuys 3.3 adds more sophisticated behavioral analytics that further increase the relevance of recommendations made both on the web and in email alerts. Building upon innovative real-time capabilities and advanced algorithms, the MyBuys product recommendation service further personalizes its recommendations based on numerous consumer profile preference algorithms -- taking into account consumer behaviors that include what they browse, ultimately buy, and the associated prices and margins in each session, and across time.

According to a recent Forrester Research report, U.S. online retail sales are projected to reach $335 billion by 2012; however, despite the steady growth, online retailers are still broadly perceived as a second choice for shoppers.(1) More and more online retailers are using product recommendations as a way to compete more effectively against the brick 'n' mortars. Unfortunately most of these efforts are failing, as over half (62 percent) of consumers still find these recommendations not tailored to their own personal tastes.(2)

Unlike other recommendation services that rely on segmentation and group-think algorithms to generate recommendations for consumers, MyBuys builds deep profiles to fully understand each individual's behavior and preferences. Using its patented portfolio of recommendation algorithms, MyBuys 3.3 determines if browsing behavior is indeed indicative of a shopper's preference, or merely casual browsing. Utilizing these enhanced preferences, the service delivers highly personalized product recommendations that lead to increased average order value and higher conversion rates.

"The release of MyBuys 3.3 represents a major step forward in delivering even more relevant and targeted product recommendations that drive significant incremental revenue for our clients," said Paul Rosenblum, vice president of products and strategy at MyBuys. "For instance, while some consumers may browse high-end goods online, they may not be interested in purchasing them. MyBuys 3.3 takes that into account to deliver recommendations that are truly relevant to the individual and their spending habits."

"We are excited about enhancements in MyBuys 3.3, as our customers have already told us how much they appreciate the personalized nature of our product recommendations," said Mike Massey, partner at Massey's Outfitters, a leading professional outfitter. "With the help of MyBuys, we have seen a dramatic increase in our online business, including a 40 percent increase in our average order value. We expect our sales to continue to grow as we provide an even more personalized online shopping experience thanks to MyBuys."

MyBuys recommends interesting and relevant products to each shopper; products that the shopper more often ends up purchasing. Through personalized product recommendations on the website and in email alerts, MyBuys is the only company to provide increased conversion rates, and extraordinarily higher revenue per consumer interaction.

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 30%, improving conversion rates by 82%, and multiplying the lifetime value of every customer. Premier retailers -- including Lancme, 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

(1) "US eCommerce Forecast: 2008 To 2012," Forrester Research, January 18, 2008

(2) This study was conducted online within the United States by Harris Interactive, on behalf of MyBuys, Inc. between November 1 and November 5, 2007 among 2,480 U.S. adults ages 18+. Results were weighted as needed for age, sex, race/ethnicity, education, region, and household income.