Snapchat Acquires Startup Fit Analytics To Grow Fashion And E-commerce Businesses

Recently, social platform Snapchat confirmed that it has acquired Berlin-based startup Fit Analytics, which provides technology that helps consumers find the right size clothing and footwear from online retailers, as well as broader personalization tools and other analytics Tools to help sellers make more sales.

It is reported that Fit Analytics’ technology allows consumers to enter their measurements into a tool that uses machine learning to match those measurements 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 hard to help Snapchat build its shopping platform.

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

In 2020, the COVID-19 epidemic has 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 being able to actually touch products in physical stores, and many emerging companies are also building technology to make up for the shortcomings of online shopping in this regard, and Fit Analytics is one of them.

Looking back at Snapchat, the acquisition of Fit Analytics is part of its long-term development strategy to promote Snapchat’s e-commerce development and in-app purchases.

Research by Piper Sandler shows that clothing, fashion accessories and shoes together accounted for 33% of U.S. teenagers’ consumption in the fall of 2020.

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

According to TechCrunch statistics, Snap has made about 20 acquisitions so far, involving areas such as advertising technology, location-based services, and services to develop AI and AR products. Among them, Fit Analytics appears to be the first to focus on shopping and e-commerce. As Snapchat puts more emphasis on in-app purchases, other relevant information may come later.