Naiz Fit and MySizeID reduced size related apparel returns
by up to 65%
AIRPORT CITY, Israel, Aug. 10,
2023 /PRNewswire/ -- MySize, Inc. (NASDAQ: MYSZ)
(TASE: MYSZ.TA) ("MySize" or the "Company"),
an omnichannel e-commerce platform and provider of AI-driven
measurement solutions to drive revenue growth and reduce costs for
its business clients, today announced its Naiz Fit and MySizeID
ecommerce apparel sizing solutions, which help shoppers find the
perfect fit, achieved several key milestones including:
- Up to 65% reduction in size-related returns compared to
shoppers who did not use MySize's sizing solutions for the
same SKUs at the same online stores
- 5 million people are using Naiz Fit and
MySizeID worldwide
- 35.6 million size recommendations have been made using Naiz Fit
and MySizeID
- 17.9 million items have been purchased using MySizeID and Naiz
Fit through a total of 7 million orders
- Over 100,000 items are now available for sizing using Naiz
Fit and MySizeID
- MySize's sizing solutions are available in 13 languages
on ecommerce sites worldwide
"We are incredibly proud of MySizeID and Naiz Fit for having
achieved these milestones. In addition to happy online shoppers and
improved economics for retailers, these numbers have a profound
impact on carbon footprint reduction," stated MySize CEO
Ronen Luzon. "Our latest data show
size related returns were reduced by up to 65% when shoppers used
Naiz Fit or MySizeID. This is due to continuous improvements of our
AI and machine learning tool which optimizes performance based on
increased traffic and a 360 degree view of retailers' business.
It's clear why so many of the world's top brands are using our
apparel sizing solutions."
Retailers using MySizeID and Naiz Fit to give their shoppers a
superior online experience include Levi's, Moschino, Superdry,
Speedo, Canali, Dockers, U.S. Polo Association, Desigual, El Ganso,
Alberta Ferreti, and many more.
About MySize Inc.
MySize, Inc. (NASDAQ: MYSZ) (TASE:
MYSZ.TA) is an omnichannel e-commerce platform and provider of
AI-driven measurement solutions including MySizeID and recently
acquired Naiz Fit to drive revenue growth and reduce costs for its
business clients. Orgad, its online retailer platform, has
expertise in e-commerce, supply chain, and technology operating as
a third-party seller on Amazon.com and other sites. MySize recently
launched FirstLook Smart Mirror, a mirror-like touch display that
provides in-store customers an enhanced shopping experience and
contactless checkout. FirstLook Smart Mirror extends MySize's reach
into physical stores and is expected to contribute to revenues
through unit sales and recurring service fees.
MySize 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
MySize, 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.
To learn more about MySize and for additional information,
please visit: our website: www.mysizeid.com.
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 related to the acquisition, expected
revenues, and the expected closing of the acquisition. 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 may 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.
Investor Contacts:
Or Kles, CFO
ir@mysizeid.com
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SOURCE My Size Inc.