The new offering will bring MySize’s highly accurate footwear sizing solution directly to consumers, via a built-in feature on retailers’ websites.
Airport City, Israel – March 26, 2021 – MySize, Inc (the “Company” or “My Size”) (NASDAQ: MYSZ, TASE: MYSZ), the developer and creator of e-commerce measurement solutions, today announced the full integration of their e-commerce shoe sizing solution directly to retailers’ websites. The integrated sizing solution, which joins a growing list of additional capabilities to the MySizeID platform, which includes garment and shoe recommendations. This latest addition is intended toenhance customers’ online shopping experience and reduce the hassle of returns for retailers.
Through MySize’s hyper-accurate shoe sizing solution seamlessly built-in as a feature on retailers’ sites, customers will benefit from an ultra streamlined shopping experience, allowing them to virtually obtain fits for a brand’s shoes without needing to download an app. Retailers can provide customers with an incredibly accurate and user friendly sizing solution that will boost their bottom lines and significantly cut down on returns.
As e-commerce footwear sales are slated to reach $21.4 billion in 2021, alongside market size growth recorded at 9.0% per year on average between 2016 and 2021, it’s clear that online shoe sales are a major source of revenue for retailers. But as up to 40% of online footwear purchases are returned, sellers are struggling with costs that top billions annually. The industry is well-positioned to embrace technology that gives customers peace of mind regarding their fits and reduces the risk of returns for retailers.
The MySize footwear sizing solution is easy to implement and is “plug and play” with leading e-commerce platforms Shopify, WooCommerce, Lightspeed, Magento, and more. By pairing a footwear retail’s product table, GTIN, description, and other relevant details with MySize’s AI-driven and machine learning algorithms online shoppers will be presented with a highly accurate size recommendation, which is expected to increase confidence and reduce returns.
MySize has repeatedly demonstrated the positive impact of its highly accurate online sizing solution in the online apparel industry, reducing returns by as much as 50%, and increasing average order value by as much as 30%. Utilizing this same technology, MySize’s footwear solution enables customers to receive a highly accurate shoe size recommendation that is saved, using the current wizard.
“When customers can order the right size without needing to jump through hoops or rely on guesswork, both the retailer and the consumer win,” said Ronen Luzon, CEO, and Founder of MySize. “By bringing our highly accurate sizing tech directly to retailers’ sites, we’re empowering larger numbers of customers to obtain the right fit for them, and increasing accessibility to those who may not have wanted to take the extra step of downloading the app. In 2021, consumers expect an online shopping experience that covers them from A to Z, and with our built-in sizing feature, retailers can provide their customers with the very best virtual fits.”
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 hereto download MySizeID for Android.
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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:
Or Kles, CFO