MySize Attending NRF 2021 and Showcasing Its Omni-Channel Solution Tackling Returns

Rhea-AI Summary

MySize, Inc. (NASDAQ: MYSZ) is attending the NRF annual convention to showcase its MySizeID app, designed to reduce return rates for online retailers. The app utilizes smartphone sensors for precise body measurements, enhancing the online shopping experience. Partnered with GK Software, MySize offers integration into various retail platforms, promoting omnichannel shopping. With online return rates at 30%, the MySizeID technology aims to improve customer satisfaction and reduce costs for retailers. CEO Ronen Luzon emphasized the need for sizing solutions in today's e-commerce landscape.

Positive

• MySizeID app aims to reduce online return rates, enhancing retailer profitability.
• Partnership with GK Software allows integration into existing retail platforms.
• Focus on omnichannel shopping experience enhances customer satisfaction.

Negative

• None.

AIRPORT CITY, Israel, Jan. 22, 2021 /PRNewswire/ -- MySize, Inc. (the "Company" or "My Size") (NASDAQ: MYSZ) (TASE: MYSZ), the developer and creator of smartphone measurement applications, is attending the annual NRF convention. The company's focus will be in highlighting its easily embedded MySizeID app, to solve returns issues and allow retailers to offer a truly omnichannel shopping experience.

The company's smartphone-based body measurement technology is embedded on retailers' websites and integrated into the retailers' app, enabling shoppers to purchase items with complete confidence that they are receiving the perfect fit. Customers enjoy accurate sizing by utilizing their smartphones' sensors once to measure themselves and combining those measurements with MySize's record of existing inventory details.

The MySizeID solution, thanks to its partnership with GK Software, developed a plug-in into GK's cloud4retail omnipos platform that enables all channels, including in-store touchpoints. Allowing assistants to support customers in real-time via a fetching of correct sizing for every item. The platform also includes customized profiles for the shoppers themselves and their family, allowing for a frictionless buying experience. See the solution in action here.

This year, at NRF the MySize team will present its MySizeID apparel and footwear solutions. Sales people from all regions including, US, UK, Italy, Germany, France, Netherlands, Turkey and Israel will be available for scheduled in-depth discussions either during or following the event.

With online return rates standing at an astronomical 30%, compared to only 8% for online purchases and a shift towards e-commerce, the issue of returns is more important to solve than ever. The shift to e-commerce also drastically changed the customer service and experience landscape and necessitates retailer investment in an omnichannel experience that "wows" customers and spurs customer loyalty. MySize's patented algorithms solve both of these issues for retailers, while requiring little in the way of onboarding or integration hassle.

"Implementing sizing technology prior to Covid-19 was a solution that made sense for retailers, now, with the shift to e-commerce, it's an absolute must," said Ronen Luzon, CEO and founder of MySize. "We're excited to showcase our MySizeID solutions for apparel and footwear at this year's NRF because now more than ever, an embrace of sizing is necessary for a true omnichannel experience and a decrease in costly returns."

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 

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SOURCE MySize Inc.

FAQ

What is MySize, Inc.'s focus at the NRF convention?

MySize, Inc. is showcasing its MySizeID app to address online return issues and enhance the omnichannel shopping experience.

What are the benefits of the MySizeID app?

The MySizeID app provides accurate body measurements using smartphones, reducing return rates and improving customer satisfaction.

What is the online return rate mentioned in relation to MySize's solutions?

The online return rate is 30%, significantly higher than 8% for in-store purchases, highlighting the need for MySize's sizing solutions.

Who is the CEO of MySize, Inc.?

The CEO of MySize, Inc. is Ronen Luzon.

What technology does MySize, Inc. utilize for its solutions?

MySize, Inc. uses smartphone-based body measurement technology supported by proprietary algorithms.