My Size Identifies Growing E-Commerce Platform Market as Key Opportunity for Mass Adoption of MySizeID Mobile Measurement Technology
Company's MySizeID seeks to become a standard offering for users from e-commerce platform providers to online apparel retailers in search of a more efficient sizing solution; Turnkey technology to improve apparel fit and decrease size-based returns for online retailers
AIRPORT CITY, Israel, April 23, 2018 /PRNewswire/ -- My Size, Inc. (the "Company" or "My Size") (NASDAQ: MYSZ) (TASE: MYSZ), the developer and creator of smartphone measurement applications, today announced it plans to launch its MySizeID app in the growing e-commerce platform market.
E-commerce platform providers offer established and new retailers a quick, turnkey method of creating and managing their online stores – including access to third party applications that retailers can easily incorporate into their websites to optimize their businesses.
My Size is developing a version of its MySizeID measurement technology that can be seamlessly integrated into a retailer's online store, directly through the e-commerce platform that the website was built on. Once added to the e-commerce platform's app store, any online retailer building its store through that specific platform can add MySizeID to its online store through an easy "plug and play" widget installation. According to Engadget, the top three e-commerce platform providers alone host more than 1.1 million websites, a portion of which are retailers that seek a more accurate and efficient sizing solution to increase sales and minimize returns.
"When buying clothes online, especially from new brands, it can be difficult for shoppers to know which size is the right fit for them. MySizeID changes this by offering an accurate and user-friendly solution to online retailers to ensure their consumers get the right fit, every time," said Ronen Luzon, CEO, My Size, Inc. "By making MySizeID available to e-commerce platforms, we are addressing the needs of a large market of smaller and emerging apparel retailers that can easily integrate our sizing technology into their online stores. The e-commerce platform market presents a significant opportunity for the Company that we intend to monetize by charging each storefront that uses our apparel sizing app a monthly fee."
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 specific measurements. MySize'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 e-commerce platforms, store owners will be able to add the MySizeID app to their storefronts through a simple widget and provide their shoppers with a more personalized shopping experience.
The Company believes that MySizeID will increase the sales of apparel retailers by reducing their customers' uncertainties regarding size and fit. Furthermore, the Company believes that MySizeID will enhance the customer experience, leading to greater brand loyalty.
Please click here for a demonstration of how the MySizeID apparel retail app works.
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 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. Follow us on Facebook, LinkedIn and Twitter.
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.