My Size Stock Price, News & Analysis

My Size, Inc. (NASDAQ: MYSZ) is participating in CES 2021 to showcase its new footwear solution, alongside its MySizeID app and logistics tool, BoxSize. The innovative smartphone measurement technology enhances online shopping by ensuring the perfect fit, addressing a significant market need as global footwear demand dropped by 22.2% in 2020 due to COVID-19. This solution integrates seamlessly with popular e-commerce platforms like Shopify and WooCommerce. CEO Ronen Luzon emphasizes the urgency of sizing technology for improving customer satisfaction in the e-commerce sector.

MySize, Inc. (NASDAQ: MYSZ) announced that its MySizeID app delivered over 12 million size recommendations in 2020, assisting over one million shoppers in 58 countries. The app has shown a significant impact on shopper conversion and return reductions by helping consumers choose the correct apparel size. The company experienced increasing demand from global retailers seeking end-to-end solutions for online shopping. MySize operates under a pricing model based on Price Per Size Recommendations (PPSR), with expectations for continued growth through 2021 due to the ongoing transformation in e-commerce.

My Size, Inc. (NASDAQ: MYSZ) announced plans to launch an AI-driven shoe sizing solution for e-commerce platforms in Q1 2021. This integration aims to enhance online shopping by providing accurate size recommendations, potentially reducing return rates by up to 50% and increasing average order value by as much as 30%. The U.S. online shoe sales market, estimated at $20.9 billion for 2020, is growing rapidly. However, high return rates due to sizing issues pose challenges for profitability in the e-commerce sector.

My Size, Inc. (NASDAQ: MYSZ) has announced a partnership with UniformMarket that will allow its MySizeID solution to reach nearly 3,000 online stores in the workwear sector. This collaboration aims to tackle the $42.1 billion workwear market's challenges, particularly issues related to ill-fitting uniforms, which can lead to safety hazards. The partnership is expected to enhance the online purchasing experience by providing accurate sizing, benefitting both workwear brands and consumers.

My Size, Inc. (NASDAQ: MYSZ) announced it has been granted a patent by the U.S. Patent & Trademark Office for a method of measuring body parts using handheld devices. This patent is part of the MySizeID technology, which employs proprietary algorithms to enhance e-commerce sizing accuracy. With this addition, MySize now holds nine issued patents and ten pending applications globally. CEO Ronen Luzon emphasized the patent's potential to reduce costs associated with reverse logistics in e-commerce, a market burdened with over $500 billion annually.

My Size, Inc. (NASDAQ: MYSZ) reported a strong business update for Q3 2020, showcasing a remarkable revenue increase to $88,000 from $6,000 year-over-year. The company successfully integrated its MySizeID technology into retailers like NOCTURNE and Tricorp, enhancing e-commerce capabilities. MySizeID has significantly boosted retailer sales and reduced returns, evidenced by a partner reporting threefold sales increases and 50% fewer returns. Despite challenges posed by COVID-19 affecting market penetration, My Size anticipates reaching 10 million size recommendations in 2020 and remains optimistic about future growth.

My Size, Inc. (NASDAQ: MYSZ) has unveiled a new Made-to-Measure (M2M) feature for its MySizeID technology, allowing retailers to collect customers' body measurements for custom clothing. This innovative tool aims to improve customer experience and reduce costs for retailers by enabling more precise sizing. CEO Ronen Luzon emphasized the shift towards made-to-measure fashion as sustainable and ethical. Currently, the M2M feature is in pilot testing with several retailers, receiving positive feedback. The company continues to innovate in the smartphone measurement solutions sector.

My Size, Inc. (NASDAQ: MYSZ) announced the integration of its MySizeID widget into Tricorp's e-commerce platform, aimed at enhancing conversion rates and minimizing product returns. This partnership, driven by the need for contactless measurement solutions during the COVID-19 pandemic, allows customers to self-measure for workwear, reducing the need for physical fittings. The global workwear market is valued at approximately $30 billion, presenting significant opportunities for MySizeID in improving retailer revenues and promoting sustainability by decreasing returns and shipping.

My Size, Inc. (NASDAQ: MYSZ) announced its participation at the Retail Hub 2020, taking place in Moscow from September 16-18. The company will showcase its innovative measurement technology, specifically the MySizeID solution, designed to enhance the shopping experience by providing size recommendations based on users' body measurements. Additionally, the BoxSize application will be demonstrated, aimed at improving package measurement efficiency for courier services. This exhibition highlights My Size's commitment to advancing retail technology.