MySize to Provide Unparalleled Avatar Try-On Experience for Online Apparel Shoppers

Rhea-AI Summary

MySize, Inc. (NASDAQ: MYSZ) has launched a groundbreaking avatar solution for e-commerce that enhances online shopping by allowing customers to visualize how clothing fits in a gamified experience. This innovation combines MySize's precise sizing technology with an interactive avatar, reducing the high return rates associated with online apparel purchases, which are estimated at 40%. CEO Ronen Luzon emphasizes that this feature could significantly boost customer engagement and loyalty.

Positive

• Launch of an industry-first avatar solution enhancing customer engagement.
• Integration of precise sizing technology with virtual try-on experience.
• Potential reduction in return rates, currently estimated at 40% for online apparel.

Negative

• None.

AIRPORT CITY, Israel, May 6, 2021 /PRNewswire/ -- MySize, Inc (the "Company" or "My Size") (NASDAQ: MYSZ) (TASE: MYSZ), the developer and creator of e-commerce measurement solutions, today announced the launch of an industry-first avatar solution that mirrors online shoppers' bodies for virtual, gamified try-on experience. Shoppers can now visualize how clothing will look on them in a much more interactive way, driving engagement and conversions.

 

 

MySizeID, which leverages sensors already built into customers' smartphones, allows customers to purchase clothing knowing they will get the perfect fit every time. Adding an avatar paired with MySize's highly accurate sizing strengthens the shopping experience even further by providing customers with a big picture overview of exactly how the apparel they are purchasing will fit. This combination of highly accurate sizing and visual comprehension means that customers are far more likely to order the correct size, leaving them with positive feelings towards the retailers, fostering loyalty, and preemptively stopping returns.

The new release marks an important milestone in the gamification of the retail shopping process. By combining highly accurate sizing with avatar technology, the customer not only receives valuable information about how clothing will fit, but gets to turn that information into an interactive experience that adjusts with the customer. The avatar allows customers to experience an engaging fitting process without providing any personal photos to obtain their size. 

Online apparel sales reached a peak of nearly $800 billion in 2020, but much of that money does not stay in retailers' pockets. It is estimated that up to 40% of all clothing purchased online is returned, thanks in large part to vanity sizing and a lack of standardized sizing across brands that leave customers bewildered about their true fit. These return rates have left e-commerce retailers struggling to keep up with costly reverse logistics and losses -- not to mention the environmental damage from more trucks on the road and returned products that are dumped in landfills.

"It's one thing for customers to have the peace of mind that they're obtaining their correct clothing size in a brand. It's a new level entirely to be able to virtually try on the product and actually understand how it will look in real life," said Ronen Luzon, CEO, and Founder of MySize. "We are confident that this advanced feature will increase our customers' willingness to engage and shop online, now that they can get what is essentially a full dressing room experience at home."

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.

Logo - https://mma.prnewswire.com/media/689689/MySize_Logo.jpg

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-to-provide-unparalleled-avatar-try-on-experience-for-online-apparel-shoppers-301285675.html

SOURCE My Size Inc.

FAQ

What is the avatar solution introduced by MySize on May 6, 2021?

MySize introduced an avatar solution that allows online shoppers to visualize how clothing will fit in an interactive, gamified experience.

How does MySize's avatar solution impact online shopping?

The solution enhances the shopping experience by providing accurate sizing and reducing return rates, which are significant challenges in online apparel sales.

What challenges does MySize's new technology address in e-commerce?

The technology addresses high return rates due to sizing issues, aiming to improve customer satisfaction and reduce costs for retailers.

What is the stock symbol for MySize?

The stock symbol for MySize is MYSZ, traded on NASDAQ.