My Size Stock Price, News & Analysis

AIRPORT CITY, Israel, March 18, 2021 /PRNewswire/ -- MySize, Inc. (NASDAQ: MYSZ) provided a stockholder update for 2021, emphasizing its strategy to enhance the e-commerce shopping experience. The company plans to expand its product offerings, including a 3D try-on avatar feature set to launch in Q4 2021. MySizeID is gaining traction among apparel retailers and the uniform market, driven by ease of use and accuracy. The firm also highlighted increased M&A activity in the industry, suggesting validation of its technology's role in optimizing retail.

MySize, Inc. (NASDAQ: MYSZ) has launched the MySizeID E-Commerce Plugin SDK, enabling e-commerce companies to create and distribute personalized sizing solutions for their customers. This SDK addresses a $6.5B market gap in e-commerce sizing solutions, enhancing shopper engagement and conversion rates for retailers. The solution allows businesses to integrate MySizeID's sizing recommendations efficiently, providing valuable customer insights. CEO Ronen Luzon emphasizes the importance of leveraging data for tailored customer experiences amidst the growing e-commerce landscape.

My Size, Inc. (NASDAQ: MYSZ) announced a Notice of Allowance from the Japan Patent Office for its patent titled "System for and a method of measuring a path length using a handheld electronic device." This patent enhances My Size's market entry into Japan, a key market for smartphone-based solutions. The proprietary algorithms facilitate accurate sizing based on users' measurements via smartphones, and this patent increases My Size's patent portfolio to ten issued patents and nine pending globally.

MySize, Inc. (NASDAQ: MYSZ) is attending the NRF annual convention to showcase its MySizeID app, designed to reduce return rates for online retailers. The app utilizes smartphone sensors for precise body measurements, enhancing the online shopping experience. Partnered with GK Software, MySize offers integration into various retail platforms, promoting omnichannel shopping. With online return rates at 30%, the MySizeID technology aims to improve customer satisfaction and reduce costs for retailers. CEO Ronen Luzon emphasized the need for sizing solutions in today's e-commerce landscape.

MySize, Inc. (NASDAQ: MYSZ) announced a strategic partnership with Datalogic to offer its BoxSize measurement solution to Datalogic's customers in the Transportation and Logistics industry. The partnership aims to enhance efficiency and customer experience amid a forecasted 40% growth in e-commerce. BoxSize enables accurate parcel measurement and cost calculation, streamlining delivery management. This collaboration is positioned to support Datalogic's commitment to innovative solutions in logistics, potentially benefiting thousands of customers globally.

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.