The solution strengthens consumers’ confidence to purchase shoes online by providing only a few details or snapping a photo, and it’s seamlessly integrated into all leading ecommerce platforms
Tel Aviv, Dec. 22, 2021 – MySize, the leading sizing and measurement solution, today announced the launch of its ecommerce shoe sizing solution, based on the company’s patented, AI-driven sizing solution, which will be fully publicly available in Q1 2021. The launch will see the accurate footwear measurement solution made available via easy integration with all leading ecommerce platforms and adopted by several existing customers on the day of its release within the MySize ID widget to strength customer confidence in size selection and reduce returns.
Online shoe sales in the U.S. market alone totaled $20.9 billion this year with a growth rate of nearly 10%. The increase of online footwear sales is a crucial component of retailers’ strategies, with the sector’s growth outstripping that of the online retail industry as a whole and set to go from just over 22% market penetration this year to nearly 37% by 2025. Yet despite footwear’s promising online sales, return issues limit profit margins and could hamper future prospects if the issue remains unaddressed.
After reducing apparel returns by 40% or more for its customers, MySize is expanding its sizing tech to solve footwear returns, which are sent back 50% of the time. Ill fitting shoes can cause customers frustration, discomfort, and even injuries if worn over time. MySize’s footwear solution enables customers to receive the perfect fitting shoe by providing details such as their favorite shoe or by snapping a photo of their foot, which is then automatically measured and saved to guide future footwear purchases.
The MySize footwear sizing solution is easy to implement and integrates into any ecommerce platform, including Shopify, WooCommerce, Lightspeed, Magento, and more. Retailers interested in utilizing need only to send MySize their products table, GTIN, description, and other relevant details. Once integrated, the white-labeled MySize shoe sizing widget will only be active on footwear specific pages, with retailers able to use MySize’s apparel solution uninterrupted.
“As ecommerce booms, so do returns, and footwear is a big part of the expense – costing retailers dearly while frustrating customers in the process,” said Ronen Luzon, CEO, and Founder of MySize. “With the launch of our footwear sizing solution, retailers will finally be able to seamlessly address the problem before it happens and cut return expenses dramatically, while giving customers a better experience in the process.”
About MySize 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 that 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.