Naiz Fit Delivers 127% Increase in Conversion Rate, Turning
Website Visitors into Purchasing Customers
AIRPORT CITY, Israel, Aug. 17,
2023 /PRNewswire/ -- MySize, Inc. (NASDAQ:
MYSZ) (TASE: MYSZ.TA), a leading omnichannel e-commerce platform
and provider of AI-driven measurement solutions, announced today
that La Garrocha, a distinguished fashion brand from Spain known for its equestrian-themed
creations, has successfully utilized Naiz Fit, the innovative
apparel sizing tool developed by MySize, to improve its business
metrics including better inventory management, increased customer
conversations, and higher sales. Through this implementation, La
Garrocha has managed to enhance several essential business
metrics.
Over the past two years, La Garrocha customers utilizing Naiz
Fit have generated nearly €600,000 (approximately $654,000.00) in purchases. La Garrocha, driven by
data insights, has meticulously tracked the influence of Naiz Fit
on its business operations. From the onset of 2023, 14.28% of
first-time visitors to La Garrocha's e-commerce platform who used
Naiz Fit proceeded to make purchases. Notably, customers engaging
with Naiz Fit exhibited a 127% higher likelihood of completing a
purchase compared to those who did not employ the sizing tool.
Given that a significant portion of La Garrocha's sales occur
online, these metrics wield a substantial impact on the brand's
bottom line.
Miguel Ángel García Rodríguez, CEO and Co-Founder at La
Garrocha, stated, "At La Garrocha, we track our purchase numbers
closely, so managing the depth of our size set working with seven
sizes per garment is very complex. We rely on experience and place
significant trust in Naiz Fit. We continuously monitor the Naiz Fit
dashboard to see which size recommendations have been requested per
item. Based on this analysis, we optimize inventory purchases to
ensure customers have the sizes and styles they want while also
increasing our turnover and minimizing unsold inventory."
Ronen Luzon, Founder and CEO of MySize, commented, "The triumph
of La Garrocha serves as a dynamic testament to the remarkable
advantages unlocked by MySize's apparel sizing solutions for
apparel retailers, customers, and environmental sustainability.
With La Garrocha's influence sweeping across Europe and beyond, we stand resolute in our
commitment to empowering La Garrocha and other retailers with
cutting-edge, AI-powered digital tools that will not only fortify
their current business endeavors but also aggressively propel our
mission of expanding and cultivating future new customers. Through
this collaboration, we hope to redefine industry standards
while amplifying MySize's role in fueling business growth for our
customers."
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.