AIRPORT CITY, Israel, Jan. 23, 2025 /PRNewswire/ -- MySize Inc. (Nasdaq: MYSZ), a global leader in AI and big data-driven solutions for the retail market, is proud to announce the launch of its Integrated Virtual Try-On Solution, featuring seamless integration with MySize's proprietary sizing technology. Following its successful participation at CES and NRF 2025 in early January, the Company is seeking to transform how fashion brands enhance customer experiences, improve operational efficiency, and achieve sustainability goals.
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The innovative solution combines Naiz Fit's highly accurate size recommendations with Aiuta's advanced virtual try-on capabilities to address key challenges in the retail industry. Notably, the Company has already engaged in discussions with several leading U.S. fashion brands, signaling strong market interest and confidence in the product's transformative potential.
Key Features and Potential Benefits of the Integrated Solution:
Comprehensive Personalization: - Naiz Fit ensures highly accurate size recommendations, while Aiuta allows customers to visualize how recommended sizes will look, offering a double layer of confidence. - Combines body data from Naiz Fit with Aiuta's visualization tools to deliver enhanced realism and accuracy in virtual try-ons.
Interactive Customer Engagement: - Delivers a frictionless and enjoyable customer journey, minimizing uncertainty and boosting satisfaction. - Simultaneously addresses both fit and style concerns, creating a memorable and differentiated shopping experience.
Optimized Pre-Purchase Decisions: - Enables customers to confidently select products that fit and suit their style preferences, reducing cart abandonment and driving higher conversion rates.
Operational and Sustainability Efficiency: - Fewer returns lower logistics costs and reduce environmental impact, supporting sustainability goals. - Retailers gain valuable insights from combined sizing and try-on data to optimize inventory planning and refine product development.
Market Potential and Early Interest:
MySize believes the virtual try-on solution's ability to impact key performance indicators (KPIs) make it a highly attractive offering for retailers. Studies show that virtual try-on technology can boost conversion rates by up to 40%, reduce return rates by an average of 20%, and increase average order value (AOV) significantly as customers gain confidence in their purchasing decisions.
MySize believes that its early engagement with leading U.S. fashion brands reflects potentially strong demand for solutions that enhance customer experiences while addressing critical operational inefficiencies. MySize aims to showcase formal partnerships with the integrated solution by Q2 2025, aligning with its commitment to deliver value-driven milestones.
CEO Statement:
Ronen Luzon, CEO of MySize Inc., commented: "After successful participation at CES and NRF 2025, we are thrilled by the strong interest in our integrated solution. By combining highly accurate sizing with engaging virtual try-ons, we believe this technology enhances customer satisfaction, improves key business metrics, and supports sustainability efforts. We believe our discussions with prominent U.S. brands are a testament to the value of our innovation, and we are excited to potentially turn this momentum into tangible results. Additionally, this aligns with our broader strategic goal of achieving a previously announced $15 million revenue target in 2025 by delivering transformative solutions to retailers."
About MySize Inc.:
MySize, Inc. (NASDAQ: MYSZ) is a global leader in omnichannel e-commerce platforms and AI-driven sizing solutions, including MySizeID and Naiz Fit. The Company's solutions are designed to drive revenue growth, reduce operational costs, and enhance customer experiences for business clients worldwide.
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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, including statements related to its strategic and business plans, technology, relationships, objectives, expectations for its business, growth, expected revenue guidance and potential of its integrated virtual try-on solution, including potential showcasing of formal partnerships. 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 may 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.
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