AIRPORT CITY, Israel,
Sept. 8, 2021 /PRNewswire/
-- MySize, Inc (the "Company" or "My Size") (NASDAQ:
MYSZ) (TASE: MYSZ), the developer and creator of smartphone
measurement solutions, today announced the addition of a virtual
coins feature to its MySizeID widget, available for e-commerce
retailers who implement the solution on their sites and apps.
Registered MySizeID users can earn redeemable virtual coins by
making sustainable and size-accurate purchases from the partnered
retailers.
After making a purchase using the MySizeID widget, customers
earn virtual coins as a thank you for shopping sustainably. The
number of coins earned on a MySizeID purchase is measured by
eco-metrics -- water saved, landfill waste prevented, emissions
avoided -- compared to purchases made not using the widget.
Customers can later redeem their earned coins for discounts,
promotions, or free items.
With roughly 11 million tons of textile waste ending up in
landfills in 2018 and up to 70% of online apparel returns being
blamed on poor fit, incentivizing customers to use MySizeID's
widget with the virtual coin feature empowers users to purchase
correctly fitting clothes while helping retailers avoid costly
returns, prevent logistical headache, and lessen environmental
impact.
Using MySizeID, customers can purchase with the confidence that
they are buying the right size the first time, drastically reducing
return rates. 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, MySizeID has
been proven to reduce returns by as much as 50%, and increase
average order value by as much as 30%.
Customers want to support sustainability efforts – an estimated
77% of Americans are concerned about the environmental impact of
products they buy. Virtual coins offer transparency for customers
to see how their purchases with MySizeID fare up to industry
average when it comes to key environmental metrics.
"The virtual coins are a win-win-win for customers, for
retailers, and for the environment. Customers get rewarded for
doing the shopping they're already doing and getting a highly
accurate fit, retailers get to cut the costs associated with
returns and give a better customer experience, all while our planet
reaps the benefit of a lower carbon footprint," said Ronen Luzon,
CEO, and Founder of MySize.
"We believe the MySizeID coins reward program is going to help
build customer loyalty for our partnered e-commerce retailers. For
brands that are eager to embrace sustainability and go green,
MySizeID coins are the perfect step. Consumers are more
environmentally aware than ever before, and they've expressed a
strong preference for supporting brands that are earth-friendly. By
implementing MySizeID coins, brands can demonstrate their company
values around sustainability in a clear way that resonates with
customers."
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.
Press Contact:
Joel Strauss
Strauss Communications
joel@strausscomms.com
IR Contact:
Or Kles, CFO
ir@mysizeid.com
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SOURCE MySize Inc.