AIRPORT CITY, Israel
My Size, Inc. (the "Company" or "My Size") (NASDAQ: MYSZ) (TASE: MYSZ), the developer and creator of smartphone measurement applications, announced today the launch of its MySizeID smart measurement technology for iOS. The newly released fashion app can be downloaded here.
The MySizeID app for iOS is a turnkey solution that enables users to accurately measure themselves through just a few simple movements with their smartphone to create their own MySizeID fit profile. Once the measurement is complete, the user can select a brand from within the MySizeID app and learn their exact size for each type of apparel item sold by that specific brand. The user can then shop that brand - either in person or online - with confidence knowing their exact size and not having to worry about purchasing and returning ill-fitting merchandise.
"We are thrilled to launch MySizeID in the Apple App store today and to potentially put our technology into the hands of millions of consumers who are looking for a better way to shop for apparel online. Recent research by Body Labs has shown that 85% of shoppers said they would purchase more apparel items if they could ensure a proper fit, but a true lack of sizing system has left shoppers frustrated and retailers missing out on profits," said My Size CEO, Ronen Luzon. "By downloading MySizeID, shoppers can ensure they are buying properly sized items, each and every time. The simple body measurement takes minutes, and the user's size profile quickly syncs to the sizing charts of leading brands across the globe to make a recommendation on item size. MySizeID is a must download for online shoppers across the world."
The Company's proprietary and patent-pending algorithms utilize a smartphone's built-in sensors, combined with anthropometric data, to accurately measure a person's body dimensions to provide accurate sizing for any article of clothing. My Size also offers an element of privacy that other measurement technologies do not, as it does not require the user to undress and take a photo of their body in order to populate an accurate measurement.
Smartphones have become an integral tool within online retail, as 62% of smartphone users globally have made an online purchase using a mobile device within the last six months. Mobile phones play an especially important role in online retail user experience, as 40% of users will turn to a competitor after a poor mobile shopping experience. Launching to iOS will make MySizeID available to more than 700 million iPhone users worldwide.
MySizeID can increase the sales of apparel retailers by reducing or even eliminating their customers' uncertainties regarding size and fit. Based on My Size's estimates, the MySizeID app can increase average order values by approximately 20% and can reduce return rates by approximately 30% - currently costing retailers approximately $62 billion annually. Furthermore, MySizeID enhances the customer experience, leading to greater brand loyalty.
As part of the app launch, My Size has teamed up with global fashion influencers like Korin Avraham for its latest movie, showcasing how easy it is for consumers to measure themselves and purchase correctly sized items from their mobile device.
