Snapchat acquires startup Fit Analytics to expand fashion and e-commerce businesses

Recently, social platform Snap chat confirmed that it has acquired Fit Analytics , a Berlin-based startup that provides technology that helps consumers find clothing and footwear of the right size from online retailers, as well as broader personalization tools and other analytical tools to help sellers achieve more sales .

Fit Analytics' technology enables consumers to input their measurements into a tool that uses machine learning to match those sizes to the clothing or shoes in question, helping consumers find the best fit.

Regarding this acquisition, Fit Analytics has confirmed that it will continue to operate its existing business while working to help Snap chat build its shopping platform .

As Sebastian Schulze, CEO and co-founder of Fit Analytics , wrote in a blog post : “Our primary focus going forward will be scaling the Fit Analytics business and working with Snap to leverage our technology and expertise to grow their shopping platform . ”

In 2020, the COVID-19 pandemic greatly promoted the development of online shopping, and people have become more and more accustomed to the benefits of online shopping, such as shopping anytime and anywhere, more product choices, various delivery methods and delivery times, etc.

However, many consumers still value the experience of actually touching products in physical stores, and many emerging companies are also building technology to make up for the shortcomings of online shopping in this regard, Fit Analytics is one of them.

On the other hand , Snapchat 's acquisition of Fit Analytics is part of its long-term development strategy to promote Snapchat's e-commerce development and in-app purchases .

Apparel, fashion accessories and shoes together accounted for 33% of U.S. teen spending in fall 2020 , according to research from Piper Sandler .

Piper Sander’s research also shows that Amazon is currently the largest fashion shopping destination for teens. Considering that Snapchat has always been popular among teens, this move provides D2C brands with another sales channel .

According to TechCrunch, Snap has made about 20 acquisitions so far , covering areas such as advertising technology, location-based services, and services for developing AI and AR products. Among them, Fit Analytics seems to be the first company focused on shopping and e-commerce. As Snapchat pays more and more attention to in-app purchases, other relevant information may be released later.

Snapchat

Fit Analytics

E-commerce