The vFit app is a smartphone app that uses a customer's smartphone camera and patented technology to accurately determine their shoe size by scanning their foot. This allows customers to "virtually try on" shoe sizes before buying online in order to reduce poor fit returns. The app founder believes it will disrupt the current shoe sizing method and increase online shoe sales conversions. Over 80 footwear retailers have signed on to pay commissions when customers purchase shoes using their determined shoe size from vFit. The founder aims to acquire over 10 million users and generate over $39 million in annual revenue within 3 years for a potential acquisition of $300 million or more.
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The Future of Fit: The vFit App Accurately Matches Your Feet to Shoes
1. The Future of Fit
The “Breakthrough” App
that fundamentally changes the way
buy shoes online
Andrew Hanscom
Founder & CEO
1 of 18
2. The vFit App
Smartphone App accurately matches your own feet to a shoe
allowing customers and their family members to “visually fit” the
size shoe before they buy online.
A proven kiosk/scanner solution NOW updated into an easy to
globally accessible FREE iPhone App
Increase sales conversions
Reduced poor fit returns
2
3. The vFit App
iPhone App that is
first of it’s kind for
shoe sizing
4 PUBLISHED
Patents covering
system & method
Proven and tested
with Footlocker,
Zappos & shoes.com
80+ footwear
retailers signed on
to pay commissions
A technology that
will disrupt current
sizing method
$15.00 Average
Revenue Per User /
Per Use (RPU/PU)
3 years exit plan to major online
marketplace
3 year cumulative ROI
515% of Investment
3
4. 2016 Online shoe sales in U.S. = $8 Billion
• 43% of online sales traffic is generated from smartphones
$30 BillionGlobal online shoe business is one of the
fastest growing internet segments
2.6 Billion people worldwide have smartphones
* (all these people buy shoes)
4
Market Size
5. Online footwear product returns average 25% (1 out of 4 pairs)
$500 Million additional operational cost at Amazon / Zappos
• Zappos pays shipping costs both ways on returns plus restocking costs
• $20 average expense per return
70% of U.S. customers still refuse to buy
shoes online because of “size and
fit confusion”
5
The Problem
6. 10 ½
6 ½ A
11 ½ B
6 ½
4511 1312 ½ D
7 ½ B 87C 8 ½ A
Size Confusion for Men & Women
All these shoe sizes fit the same two people…
So how do we know which Size is the right fit?
No surprise that 25% of online shoes bought are returned
Man’s closet
Woman’s closet
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7. • US Patent No. 6,741,728 – Issued May 25, 2004 - Footwear Sizing Database Method
• US Patent No. 6,546,356 – Issued April 8, 2003 - Body Part Imaging Method
• US Patent No. 6,549,639 – Issued April 15, 2003 - Body Part Imaging System
Our PatentedTechnology
Barrier of entry is difficult for other competitors
Scanning method and system are broadly covered in 4 patents
Database method patent ensures only vFit can match feet to shoes using a
comparative database
NEW 2015 International patent under both U.S. Law and the Patent
Cooperation Treaty ("PCT").
7
24. -1 degrees vertical
0 degrees horizontal
Integrated with iPhone’s internal gyroscope, images will have known camera angles
Over 8,000 reference points
Smartphone’s standard camera captures multiple images using automated video settings
9
33. iPhone Shopping Experience
Retailers with shoe size available in
and price comparison
When customer chooses
retailer to fulfill the sale vFit
receives on $14.70
commission from
affiliated partner site
10
34. Revenue Stream from 80+ online partners
Green circles reflect the commission % received from each retailer
18
%
7
%
12
%
8.
5
%
11
%
7
%
11
%
25
%
20
%
11
%
7
%
13
%
17
%
20
%
20
%
11
43. 15
Once proper fit is determined
shoe is added to shopping cart
with correct size
3% License fee on embedded SDK in
Brand’s own website = average $2.50
per qualified conversion
($0 marketing spend with high volume)
44. 12
vFit comparative shopping site
the for shoes
A ”Qualified Search” RPQS
= $15.00
(Revenue per Qualified Search)
High $ marketing spend
with lower volume
Return on add spend
3:1 ratio $ goal
45. Shoe/Last/Fit Database User buying feedback
loop
vFit
comparative
shopping site
vFit App
Virtual Last
Configurator
User fit Feedback
AWS
Zappos and
other Retailers
Ecosystem
47. Social Media Customer Acquisition
Advertise to
250 million
active users
who shop for
shoes online and
have iPhones
14
48. Revenue Model
vFit app is free to all consumers
When consumer uses vFit to try on a shoe and confirm fit a 30 day cookie
is embedded in the URL telling retailer the lead came from vFit.
Proven online revenue approach used by
Average vFit conversion revenue per sale = $15.00
Yr. 1 = 200,000 vFit conversions = $ 2,670,000 revenue
Yr. 2 = 1,135,000 vFit conversions = $14,190,000 revenue
Yr. 3 = 3,516,000 vFit conversions = $36,920,000 revenue
15
49. Exit Strategy
$300 Million + Acquisition Goal from a
strategic online technology company
vFit 36 Month Goal:
• Exceed $39 Million annual revenue
• Reach 10 Million unique users
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50. Summary
Headquartered in Southern California
Large market opportunity with sufficient untapped potential
Scalable global business with opportunity for rapid growth
Compelling and defendable market differentiation
Proven product proof-of-concept
Well defined sales & marketing strategy with a strong understanding of the
customer need
Compelling business model and financial plan that leads to profitability and
flow
Intellectual Property - proprietary and defendable (patented) processes and
Exit strategy that provides a good ROI for investors
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51. The “Breakthrough” App
that fundamentally changes the way
buy shoes online
vFitShoes.com
vFitShop.com
Contact:
Andrew Hanscom
Founder & CEO
(949) 872-7742
andrew@vfitshoes.com
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