AIRPORT CITY, Israel, Nov. 20, 2019 /PRNewswire/ -- My Size, Inc. (the "Company" or "My Size") (NASDAQ: MYSZ) (TASE: MYSZ), the developer and creator of smartphone measurement solutions, today announced that it has launched two new features for the MySizeID widget. Users can now receive their size recommendation without having to download the application by easily entering their gender, height and weight. This information is then analyzed by MySize's propriety, machine learning database in order to calculate the appropriate size. The second feature of the widget is guest mode, which allows guest users to enter their data and receive a size recommendation. The widget can then follow the user across the site and predict a size on different products.
The new features were tested with Boyish Jeans, a sustainable women's denim line focused on quality, fit, and authentic washes. According to the Boyish Jeans case study, over a two-month period, user engagement increased dramatically, with more than 75% of the size recommendations coming from guest users. Boyish Jeans reported that during the same period customer returns decreased approximately 31% after implementing the MySizeID widget on their website. Deployment of the widget also resulted in customers downloading the MySizeID app.
Ronen Luzon, Chief Executive Officer of My Size, stated, "We are constantly refining our measurement technology in order to further enhance the consumer shopping experience. These new widget features allow the customer to efficiently receive an accurate size recommendation when shopping for apparel online. Once the user enters their height, weight and age, our proprietary machine learning algorithms are able to compare the information against our database, while using the retailer's specific sizing chart in order to accurately predict sizing. The widget then follows the customer throughout their shopping experience on the site and recommends sizing on different products the customer is looking to purchase. We tested these features with customers of Boyish Jeans over a period of two months and saw fantastic results. Not only did user engagement increase by 75% but we also saw an increase of customers downloading the MySizeID app. Importantly, Boyish Jeans saw returns decrease approximately 31% after implementing our measurement solution on their website. This further validates our conviction that our measurement solution bolsters buying confidence in customers by quickly generating their ideal size, which further increases brand loyalty and conversion rate for the retailer while reducing returns. Based on customer engagement, our technology allows retailers to optimize their customer sizing data and maintain appropriate inventory levels on relevant items. We look forward to progressing our relationship with Boyish Jeans."
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.
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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.