MySize's Smart Mirror Positioned to Serve the Rise of Hybrid Retail; Gen Z Consumers Most Likely to be Hybrid Shoppers

Rhea-AI Summary

MySize, Inc. (NASDAQ: MYSZ) recently highlighted its FirstLook Smart Mirror featured on Israeli Channel 13, showcasing its capabilities as an innovative retail tool. The mirror enhances in-store shopping experiences through contactless checkout and personalized recommendations. With rising demand for hybrid shopping—reported by IBM—one in four consumers prefers this method. MySize received strong interest from existing and potential clients, positioning itself to capitalize on evolving shopping habits. The technology is poised to boost revenues through unit sales and service fees.

Positive

• Strong interest in the Smart Mirror from existing and prospective customers.
• FirstLook Smart Mirror enhances shopping experiences, appealing to hybrid shoppers.
• Technology poised to generate revenue through unit sales and recurring service fees.

Negative

• None.

• FirstLook Smart Mirror Featured on Israel's Channel 13, View - HERE
• MySize Receives Strong Interest in Smart Mirror from Current and Prospective Customers  

AIRPORT CITY, Israel , July 26, 2022 /PRNewswire/ -- MySize, Inc. (NASDAQ: MYSZ) (TASE: MYSZ.TA) ("MySize" or the "Company"),  an omnichannel e-commerce platform and provider of AI-driven measurement solutions to drive revenue growth and reduce costs for its business clients, today announced that its FirstLook Smart Mirror, designed to serve the hybrid retail customer, was recently featured on Israeli channel 13 as an innovative retail tool that serves evolving shopping habits.

FirstLook Smart Mirror is an interactive, mirror-like touch display that provides shoppers in physical stores with an enhanced, online shopping experience and contactless checkout. Seamlessly fitting into any retail environment, it can be placed in fitting rooms and other high-traffic, strategic locations.

An IBM report titled "Retail Industry Reshapes with Hybrid Cloud and AI to Help Meet Shifting Consumer Shopping and Sustainability Preferences" provided in-depth data on the rise of hybrid shopping—as consumers are increasingly mixing physical and digital channels. One in four consumers surveyed stated hybrid shopping as their preferred method, with 62% of consumers surveyed stating they are willing to change their purchasing habits to reduce environmental impact. Importantly, Gen Z consumers surveyed were the most likely to be hybrid shoppers. More than 50% of consumers surveyed had already used or would like to try tech-enabled touchpoints in a physical store environment according to a report by the IBM Institute for Business Value..

"The launch of FirstLook Smart Mirror is ideally timed with the rise of hybrid shopping and with consumers' desire to reduce environmental impact, which is significant as it relates to apparel returns. MySize identified this opportunity early on, and we are now seeing strong interest in our smart mirror both from our current clients who are using MySizeID on their ecommerce sites, as well as from prospective new customers," said Ronen Luzon, CEO, and Founder of MySize. "Offering a hyper-personalized measurements profile, powered by a QR code, the mirror recommends to shoppers the best pieces for them based on the stock currently in store, along with an in-booth checkout option. FirstLook Smart Mirror leverages our MySizeID AI and cloud-based tech to serve our installed retailer customer base's physical stores."

About MySize Inc.

MySize, Inc. (NASDAQ: MYSZ) (TASE: MYSZ.TA) is an omnichannel e-commerce platform and provider of AI-driven measurement solutions to drive revenue growth and reduce costs for its business clients. Orgad, its online retailer platform, has expertise in e-commerce, supply chain, and technology operating as a third-party seller on Amazon.com and other sites. MySize recently launched FirstLook Smart Mirror, a mirror-like touch display that provides in-store customers an enhanced shopping experience and contactless checkout. FirstLook Smart Mirror extends MySize's reach into physical stores and is expected to contribute to revenues through unit sales and recurring service fees.

MySize 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 MySize, 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.
To learn more about MySize and for additional information, please visit: our website: www.mysizeid.com.

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.

Investor Contacts:
Or Kles, CFO
ir@mysizeid.com

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SOURCE My Size Inc.

FAQ

What is the FirstLook Smart Mirror by MySize?

The FirstLook Smart Mirror is an interactive touch display designed to enhance in-store shopping experiences with contactless checkout and personalized recommendations.

How does MySize's Smart Mirror relate to hybrid shopping?

MySize's Smart Mirror caters to the rise of hybrid shopping, where consumers prefer a blend of physical and digital shopping experiences.

What interest has MySize received for its Smart Mirror?

MySize has received strong interest from both current clients using MySizeID and prospective new customers for its Smart Mirror.

When was the FirstLook Smart Mirror featured on Israeli Channel 13?

The FirstLook Smart Mirror was featured on Israeli Channel 13 on July 26, 2022.

What are MySize's future revenue expectations from the Smart Mirror?

MySize expects the Smart Mirror to contribute to revenues through both unit sales and recurring service fees.