AIRPORT CITY, Israel, Dec. 22,
2020 /PRNewswire/ -- My Size, Inc, (the "Company" or
"My Size") (NASDAQ: MYSZ) (TASE: MYSZ) the developer and creator of
AI-driven sizing measurement solutions, today announced the planned
launch of its e-commerce shoe sizing solution, based on the
company's highly accurate, AI-driven sizing solution. The footwear
measurement solution can be easily integrated with all leading
e-commerce platforms and is expected to be available in Q1
2021.
Online shoe sales in the U.S. market are estimated to be
$20.9 billion this year growing
nearly 10% since 2019. Yet despite online footwear's promising
sales, customer-friendly policies like "free two-way-shipping", put
stress on profit margins and place a cloudy ceiling over future
prospects, if the issue remains unaddressed.
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, after
providing as few details as their size in a favorite shoe or even a
picture of their foot.
"As e-commerce booms, so do returns, and footwear returns are
often outsized within the already high return rates for the online
apparel industry, costing apparel and footwear retailers dearly and
adding to customer frustration." said Ronen Luzon, CEO and Founder
of MySize. "With the planned launch of our shoe sizing solution,
footwear retailers will finally be able to seamlessly and
proactively address the problem and cut return costs, while
providing a more confident shopping experience in the process."
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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 one-month free trial of MySizeID
solution for your online store.
Please click here to download MySizeID for iOS.
Please click hereto 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
My Size Investor relations contact:
Or Kles, CFO
ir@mysizeid.com
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SOURCE My Size Inc.