MYSZ - Top Fashion Brands Use AI-Driven Omnichannel MySizeID And Naiz Fiz To Deliver The Right Size The First Time Around
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By Ernest Dela Aglanu, Benzinga
Shopping for clothingonline, while convenient, can at the same time be very difficult,especially because the buyer can't try the clothes on first. Alltoo often, they may receive apparel that doesn't fit – sometimesmarring an otherwise great experience.
A survey conducted by PowerReviews revealed that clothing topped the list of itemsreturned by customers who purchase online. Clothing led with 88%returns, followed by shoes at 44%, and electronics at 43% as the mostreturned product categories.
The survey further explained that the top threereasons people gave for returning an item were that it didn't fit(70%), the item was damaged or defective (65%), or the item didn'tmatch the description (49%).
These fit-related problems are costing retailers worldwide $642.6 billion, and only 48% of returns can beresold at full price. Even worse, an estimated 5 billion pounds ofreturns end up in landfills.
To help solve this nagging problem and ensurecustomers receive clothing and other items that fit, MySizeInc. (NASDAQ: MYSZ) (TASE: MYSZ.TA), an omnichannel e-commerceplatform and provider of artificial intelligence (AI)-drivenmeasurement solution, has been partnering with a growing list of topretailers.
Since1999, the company has developed products such as MySizeID and recentlyacquired Naiz Fit to enhance customers' shopping experienceby helping them find the perfect fit while driving revenue growth andreducing costs for its business clients.
MySize says it is helping fashion brands andretailers use AI to create virtual try-on experiences. Now, customerscan use their smartphones to create a profile and then virtually tryon different clothing items.
Top Fashion Brands Are UsingMySize Technology
Interestingly, some big brands have adopted MySize AI-drivenmeasurement solutions to enhance customer experience while maximizingprofits, serving as a testament to the quality of their product.
In May last year, Denimbrand Levi Strauss & Co. (NYSE: LEVI) revealed that it was adding more digital tools like MySize technology to helpcustomers find the right size jeans as part of its mandate to growdirect-to-consumer sales. The company said it would implement two newdigital fit features to its site: a predictive fit algorithm and aphoto bank of products on people of different body types.
Forint S.p.a., a leadingItalian maker of uniforms for customers including the Vatican,Italy’s Presidency, and the Senate, in December 2022, selected the MySizeID sizing solution for its business. The company said itwould offer MySizeID to all its business-to-business customers,providing a smarter and easier way to interact, resulting in aseamless experience and more accurate service.
Another company that hasadopted MySize's technology is Estudio de Moda SAS, a leadingColombia-based retail company with a portfolio of brands, includingDiesel, Celio, Superdry PLC (LON: SDRY), Marithe FrançoisGirbaud, and Replay. The company announced on January 5 this year it will implement MySizeID sizing solution onits Diesel Colombia e-commerce site.
Apart from the announcements mentioned above, MySize hasentered into agreements with Temperley London, a luxury British fashion brand, and 7 For AllMankind (Brazil), a premium global clothing brand, to license itsMySizeID apparel sizing solution.
Also, after a year of proven success with LeviStrauss & Co. Turkey (Levi's Turkey), Dockers (Turkey) decidedto integrate MySize's proprietary AI-driven sizing technology solution.According to the company, the successful integration of the MySizeIDwidget has reduced return rates for a subsidiary of the world'sglobal leader in jeans wear.
MySize believes that its technology, compared toothers, can provide several advantages to consumers — especiallyincluding a better fit the first time — and retailers, who can savemoney because returns are reduced. People are also more likely to buymore when they are confident about fit.
The technology also benefits the environmentas it reduces waste associated with returns, carbon footprint, andclothing being discarded.
This article was originally published on Benzinga here .
MySize,Inc. (NASDAQ: MYSZ) (TASE: MYSZ.TA) is an omnichannel e-commerceplatform and provider of AI-driven measurement solutions to driverevenue growth and reduce costs for its business clients. Orgad, itsonline retailer platform, has expertise in e-commerce, supply chain,and technology operating as a third-party seller on Amazon.com andother sites. MySize recently launched FirstLook Smart Mirror, amirror-like touch display that provides in-store customers an enhancedshopping experience and contactless checkout. FirstLook Smart Mirrorextends MySize's reach into physical stores and is expected tocontribute to revenues through unit sales and recurring servicefees.MySize has developed a unique measurement technology based onsophisticated algorithms and cutting-edge technology with broadapplications, including the apparel, e-commerce, DIY, shipping, andparcel delivery industries. This proprietary measurement technology isdriven by several algorithms that are able to calculate and recordmeasurements in a variety of novel ways. To learn more about MySize,please visit our website: www.mysizeid.com.
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