MySizeID Sizing Trends Capability Enables Brands to Make Proactive Sizing Adjustments to Better Fit Customers

Rhea-AI Summary

MySize, Inc. (NASDAQ: MYSZ) announces its new Sizing Trends feature aimed at eCommerce retailers. This tool offers insights into customer sizing trends based on anonymized data from over 100 million measurements. The feature helps retailers optimize size charts to enhance customer fit, potentially reducing returns—which account for 70% of online apparel returns—by up to 50%. MySizeID has partnered with leading brands and platforms, demonstrating a capability to boost average order values by 30%.

Positive

• Development of Sizing Trends feature provides key insights into customer sizing needs.
• Ability to reduce apparel returns by up to 50%, which can significantly improve profitability.
• Partnerships with major brands and eCommerce platforms enhance MySize's market credibility.

Negative

• None.

AIRPORT CITY, Israel, Sept. 7, 2021 /PRNewswire/ -- MySize, Inc (the "Company" or "My Size") (NASDAQ: MYSZ) (TASE: MYSZ), the developer and creator of smartphone measurement solutions, today announced its Sizing Trends feature for eCommerce retailers who implement the MySize solution on their sites and apps. The Sizing Trends feature provides unparalleled visibility into shifts in sizing among their brand's customers and across the industry, giving retailers the opportunity to adjust their size charts to best fit their customers' needs.

Sizing Trends leverages anonymized, aggregated data from over 100 million customer measurements, along with a brand's customer specific sizing data to alert eCommerce retailers of trends towards particular shapes, fits, and sizes. The critical visibility into real-world shifts in customer sizing allows brands to readjust their size charts and product tables to provide the ideal fit for customers' changing measurements. As up to 70 percent of online apparel returns are blamed on poor fit, Sizing Trends provides another tool in eCommerce retailers' arsenals to preemptively convert costly returns into a boost in sales.

MySizeID empowers retailers to make smarter, AI-backed business decisions, thanks to the rich array of AI-driven actionable insights it provides clients, including user behavior and conversion rates. The sizing solution utilizes retailers' size charts, product tables, GTIN, descriptions, and other relevant details, alongside MySize's patented algorithms, to provide online shoppers with a highly accurate size recommendation. The easy-to-use, plug-and-play widget is seamlessly integrated into eCommerce brands' sites, enhancing customers' online shopping experience and boosting their engagement levels and confidence in the brand.

A trusted partner of leading brands including Levi's, Speedo, and Boyish Jeans, as well as e-commerce platforms including Shopify, WooCommerce, Bitrix, LightSpeed and more, MySizeID has been proven to reduce returns by as much as 50%, and increase average order value by as much as 30%.

"People's bodies are constantly in flux, but that doesn't mean that they should be doomed to a life of ill-fitting garments. Factors as varied as more time at home during the pandemic and the changing of the seasons can affect our body shapes and measurements. Retailers have a responsibility and an interest in paying attention to trends in customer measurements, so that they can reexamine sizing charts in order to provide the best possible fit for customers," said Ronen Luzon, CEO of MySize.

"By leveraging data points from our 100 million sizing recommendations, we can provide retailers with the tools they need to gauge whether or not their sizing is the most accurate for their audiences. Not only does size adjustment mean that customers are far more likely to order their correct size, preventing expensive returns and boosting retailers' bottom lines, it leaves customers with positive feelings towards the retailers, and more importantly, themselves."

About MySize 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, e-commerce, DIY, shipping, and parcel delivery industries. This proprietary measurement technology is driven by several algorithms that 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. We routinely post information that may be important to investors in the Investor Relations section of our website. Follow us on Facebook, LinkedIn, Instagram, and Twitter.

Please click here for a demonstration of how MySizeID provides a full sizing solution for the retail industry.

Register here for a free plan of MySizeID solution for your online store.

 Please click here to download MySizeID for iOS.

Please click here to download MySizeID for Android.

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 My Size Inc.

FAQ

What is MySize's new Sizing Trends feature?

The Sizing Trends feature provides eCommerce retailers with insights into shifts in customer sizing, enhancing size chart accuracy.

How does Sizing Trends impact online apparel returns?

It aims to reduce returns, which are often due to poor fit, potentially lowering return rates by up to 50%.

What are the benefits of using MySizeID for retailers?

MySizeID helps retailers enhance customer experience by providing accurate size recommendations, which can increase average order values by up to 30%.

Which major brands use MySize's technology?

MySize has partnered with brands like Levi's, Speedo, and Boyish Jeans to implement its sizing solutions.

What data does the Sizing Trends feature utilize?

It leverages anonymized data from over 100 million customer measurements alongside brand-specific sizing information.