Positive momentum reflects growing traction of MySizeID and its proven ability to reduce returns and significantly increase shopper conversion
Airport City, Israel, December 31, 2020 – MySize, Inc. (the “Company” or “My Size”) (NASDAQ: MYSZ) (TASE: MYSZ), a developer of smartphone-based measurement solutions, today announced that MySizeID delivered over 12 million size recommendations in 2020. MySizeID has repeatedly demonstrated and been proven that increased customer confidence in accurate size selection significantly increases shopper conversion and reduces returns.
The MySizeID app is a turnkey solution that helps any online shopper choose the appropriate apparel size for that specific brand, based on the shopper’s real-time body measurements. My Size’s innovative technology enables consumers to measure themselves once, using their smartphone, and then be accurately matched with a brand-specific apparel item in their personal size.
“Size recommendations by MySizeID assisted over one million shoppers in 58 countries (in nine languages), to confidently purchase 600,000+ apparel items online, in support of 250+ brands in 2020, and this trend is expected to increase further in the new year,” said Ronen Luzon, CEO of MySize. “More than 12 million sizes were recommended by MySizeID this year and we anticipate continued growth in 2021 as a result of the great e-commerce transformation this year, due to the pandemic. Our various pricing plans with our customers are generally based on Price Per Size Recommendations (PPSR), which vary between $0.01- $0.10, plus a yearly maintenance fee.”
Mr. Luzon continued, “We are experiencing increasing demand from retailers worldwide that are looking for an end-to-end solution that helps consumers confidently choose their appropriate size and fit while shopping online. Our technology helps consumers buy with confidence, enhance the shopping experience, and foster brand loyalty.”
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, e-commerce, DIY, shipping and parcel delivery industries. This proprietary measurement 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. 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, including statements with respect to the projected number of size recommendations. 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