MySize Attending CES 2021 After Announcing Footwear Solution

Rhea-AI Summary

My Size, Inc. (NASDAQ: MYSZ) is participating in CES 2021 to showcase its new footwear solution, alongside its MySizeID app and logistics tool, BoxSize. The innovative smartphone measurement technology enhances online shopping by ensuring the perfect fit, addressing a significant market need as global footwear demand dropped by 22.2% in 2020 due to COVID-19. This solution integrates seamlessly with popular e-commerce platforms like Shopify and WooCommerce. CEO Ronen Luzon emphasizes the urgency of sizing technology for improving customer satisfaction in the e-commerce sector.

Positive

• Introduction of new footwear solution enhances MySize's product offerings.
• Technology integrates with major e-commerce platforms like Shopify and WooCommerce, potentially increasing customer reach.
• Demonstrates adaptability in response to shifting market demands amid the pandemic.

Negative

• Global footwear demand decreased by 22.2% in 2020, affecting market conditions.
• Relying on current trends may expose the company to future market volatility.

AIRPORT CITY, Israel, Jan. 7, 2021 /PRNewswire/ -- My Size, Inc. (the "Company" or "My Size") (NASDAQ: MYSZ) (TASE: MYSZ), the developer and creator of smartphone measurement applications, is attending the annual CES convention. The attendance comes amid the announcement of its new footwear solution which will be exhibited, alongside its apparel-focused MySizeID app, its logistics offering BoxSize, and DIY solution.

 

 

The company's smartphone-based body measurement technology has helped shoppers purchase items with confidence that they are receiving the perfect fit. MySize's footwear solution significantly expands the platform's fitting capabilities and is in preliminary use by existing customers. The new solution can be easily integrated with all leading e-commerce platforms, including Shopify, WooCommerce, Lightspeed, and Magento.

This year, at CES the MySize team will present its full suite of solutions, which include MySizeID for footwear and apparel, BoxSize for parcel carriers, and DIY solutions. Sales people from all regions including, US, UK, Italy, Germany, France, Netherlands, Turkey and Israel will be presenting and available for scheduled in depth discussions either during or following the event.

Global demand for footwear fell by approximately 22.2% over the past year due to the impact of the COVID-19 pandemic, largely because finding shoes depends on fitting in brick-and-mortar stores. That same trend is noticeable in apparel as well, where customers are apprehensive about going through the hassle of ordering incorrectly. MySize's patented algorithms are designed to solve the issue of reducing returns, the majority of which are caused by sizing mishaps.

"Sizing technology for footwear, apparel and logistics has been a growing opportunity for brands for years, but this year that technology has become absolutely vital with the rise of e-commerce," said Ronen Luzon, CEO and founder of MySize. "We're excited to showcase our solutions, including our brand new footwear solution at this year's CES at such a pivotal time for companies to get sizing right in order to decrease returns, increase customer satisfaction, and make the e-commerce era work for them."

The team at MySize created a system that uses a patented algorithm to measure customers with their smartphone sensors, without using the camera. MySize provides shoppers with a highly accurate body fit while ensuring complete privacy and convenience.

Although this year's event is unlike any other, the focus on critical issues such as the environment, customer journey, and a truly omnichannel experience are a perfect fit with MySize's offering.

For more information on MySize's CES participation, please visit the CES 2021 Exhibitor Directory.

About My Size, Inc.

My Size, Inc. (TASE: MYSZ) (NASDAQ: MYSZ) has developed a unique measurement technology based on sophisticated algorithms and cutting edge technology with broad applications including the apparel, ecommerce, DIY, shipping and parcel delivery industries. This proprietary technology is driven by several algorithms which are able to calculate and record measurements in a variety of novel ways. To learn more about My Size, please visit our website. www.mysizeid.com. Follow us on Facebook, LinkedIn and Twitter.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results to differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company's filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

U.S. Press Contact:
Strauss Communications
joel@strausscomms.com 
www.strausscomms.com

IR Contact:
Or Kles, CFO
ir@mysizeid.com 

View original content:http://www.prnewswire.com/news-releases/mysize-attending-ces-2021-after-announcing-footwear-solution-301202690.html

SOURCE My Size Inc.

FAQ

What new products is My Size showcasing at CES 2021?

My Size is showcasing its new footwear solution, MySizeID app, and logistics tool, BoxSize.

How does My Size's new footwear solution impact e-commerce?

The new footwear solution improves sizing accuracy for online shoppers, potentially reducing returns and increasing customer satisfaction.

What is the significance of My Size’s participation in CES 2021?

Participation highlights My Size's innovative solutions at a critical time when e-commerce and accurate sizing are essential for retail recovery.

What challenges is the footwear industry currently facing?

The footwear industry has seen a 22.2% decline in global demand due to the COVID-19 pandemic.

Which e-commerce platforms is My Size’s footwear solution compatible with?

The footwear solution can be integrated with platforms like Shopify, WooCommerce, Lightspeed, and Magento.