AIRPORT CITY, Israel,
July 22, 2021 /PRNewswire/
-- MySize Inc. (the "Company" or "My Size")
(NASDAQ: MYSZ) (TASE: MYSZ), the developer and creator
of smartphone measurement solutions, today announced the
results of its 6 month (first six months of 2021) internally
generated Business Intelligence Report. The report found that the
solution has increased revenue per visitor, conversion rates, and
average order value for eCommerce retailers that implemented the
MySize solution on their sites. The impact was much more
significant on retailers that implement the widget on more than 40%
of their product listings.
![My Size Inc. Logo My Size Inc. Logo](https://mma.prnewswire.com/media/689689/MySize_Logo.jpg)
According to the Report, MySize has helped eCommerce retailers
increase their conversion rates by an average of 2.75x when MySize
tech was applied to 40% or more of product listings. The solution
has provided a significant boost to average order value (AOV),
which was up on average by almost 15% when e-commerce retailers
implemented MySize for 40% or more of their product listings. As
customers shop with the knowledge that they will receive their
apparel and footwear in the correct size, MySize's solution
strengthens both consumer confidence and eCommerce retailers'
bottom lines.
MySizeID empowers retailers to make smarter, AI-backed business
decisions, thanks to the rich array of AI-driven actionable
insights it provides clients, including user behavior and
conversion rates. The sizing solution utilizes retailers' size
charts, product tables, GTIN, descriptions, and other relevant
details, alongside MySize's patented algorithms, to provide online
shoppers with a highly accurate size recommendation. The
easy-to-use, plug-and-play widget is seamlessly integrated into
eCommerce brands' sites, enhancing customers' online shopping
experience and boosting their engagement levels and confidence in
the brand.
Users of the MySize app, which leverages sensors already built
into customers' smartphones, can instantly obtain accurate clothing
sizes in any brand's apparel via their patented algorithm, a unique
approach that safeguards user privacy. While browsing apparel
online, customers can find out exactly which size of an item is the
ideal fit for them, from the comfort of their homes.
The solution has been proven to reduce returns by as much as
50%, and increase average order value by as much as 30%. MySize is
a trusted partner of leading brands including Levi's, Speedo, and
Boyish Jeans, as well as e-commerce platforms including Shopify,
WooCommerce, Bitrix, LightSpeed and more.
"The pandemic has shifted shoppers' preferences towards
eCommerce, but retailers still struggle to woo consumers who are
hesitant to purchase apparel and footwear sight-unseen, without
physically trying on in a fitting room," said Ronen Luzon, CEO of
MySize. "Our data proves that the ability to know they're ordering
the correct size gives a major source of confidence to consumers,
resulting in increased conversion rates and significantly higher
value per sale. We are immensely proud of how strongly our
product resonates with consumers and its impact on the
industry."
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
Press Contact:
Joel
Strauss
Strauss Communications
joel@strausscomms.com
IR Contact:
Or Kles, CFO
ir@mysizeid.com
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SOURCE My Size Inc.