AIRPORT CITY, Israel,
April 30, 2019 /PRNewswire/
-- My Size, Inc. (the "Company" or "My Size") (NASDAQ: MYSZ)
(TASE: MYSZ), the developer and creator of smartphone measurement
solutions, today announced it has recently completed a pilot
program for a leading global plus-size apparel brand. During the
pilot testing, consumers utilized My Size's smart mobile
measurement solution, MySizeID, to record their body measurements
and receive a recommendation on the correct size item for purchase.
MySizeID achieved an 84% success rate during the pilot, where women
reported how well an item fit them after they purchased it using
MySizeID's measurements and size recommendations.
"We are pleased with the results of the pilot program, which
further showcase the effectiveness of our technology—in this case,
for a leading global apparel brand. With online retailers losing
millions of dollars each year due to size-based returns, an 84%
success rate in sizing recommendations represents significant
potential monetary savings," said Ronen Luzon, Chief Executive
Officer of My Size. "The positive response to MySizeID from
shoppers during the pilot program serves as further validation for
the need of such personalization technologies within online
shopping. Consumers want to be able to shop confidently online, as
they would in a store – MySizeID empowers shoppers to make smart
purchasing decisions."
The plus-size clothing market is a key vertical for penetration
for My Size, with a reported market value of $20.4 billion in 2016. The average dress size of
women in the U.S. is 14 to 16, yet there remains a significant gap
in available options in both apparel and sizing due to issues with
fit and retailers taking a blanket approach to sizing. As a
result, retailers are losing out on sales by not focusing on
solutions to fit issues.
"While sizing has been an issue in fashion and apparel for
years, no one has been more impacted than plus-sized shoppers
seeking to buy clothing online. Whether retailers are 'sizing down'
to make larger sizes smaller, or just aren't offering plus-sized
options at all, this sector of the market is unfairly overlooked,"
said Luzon. "We see the plus-sized market as an opportunity to work
with retailers to both expand their offerings, as well as generate
customer loyalty due to an enhanced shopping experience. Through a
combination of our industry knowledge and innovative mobile sizing
solutions for retail, we feel we are well positioned to penetrate
this market."
While some retailers have focused on the plus-sized industry,
there has been a call for fast-fashion brands to make more of an
effort to offer apparel that correctly fits a broad range of sizes.
Still the frustration remains – like the female shopper whose
tweet went viral and was shared over 300,000 times. She
compared multiple pairs of jeans, all labeled size 12, only to find
none of them were actually sized the same.
"It's time for consumers to regain control over their sizing
when shopping for apparel online. Retailers have put forth
inconsistent sizing ranges for much too long, leaving consumers to
guess – often incorrectly – what will fit them before ordering,"
said Luzon. "MySizeID combats the problem by matching a consumer's
true measurements to a retailer's sizing chart to recommend the
correct sized item. Rather than forcing a consumer to guess, and
possibly return an item after purchase, retailers can empower the
customer to choose the item that will fit correctly each and every
time, while building crucial brand loyalty that turns a one-time
buyer into a fan of the brand for life."
The MySizeID app is a turnkey solution that helps any merchant's
customers choose the appropriate apparel size for that specific
brand, based on the shopper's real measurements. My Size's
innovative technology enables consumers to measure themselves using
their smartphone and then be matched with a brand-specific apparel
item in their size. Once launched on any given e-commerce platform,
store owners will be able to add the MySizeID app to their
storefront through a simple integration and provide their shoppers
with a more personalized experience.
About My Size, 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 which 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 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.
Israel Press Contact:
Yaniv Leibovich
Leibovich Media
yanivleib@gmail.com
U.S. Press Contact:
Matthew Bretzius
FischTank Marketing & PR
matt@fischtankpr.com
IR Contact:
Crescendo Communications, LLC
Email: MYSZ@crescendo-ir.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/my-size-announces-successful-smart-mobile-measurement-technology-pilot-program-for-leading-global-plus-size-apparel-brand-300840754.html
SOURCE My Size Inc.