Online shopping, or e-commerce, is debatably the best thing since sliced bread. Consumers are able to access products from companies across the globe in seconds and have it shipped to their doorstep overnight. Although this is a major convenience, for some products it can become an inconvenience.
Right now a majority of retail sales still are in the brick-and-mortar sector, with only 27.4% of sales coming from e-commerce in 2017.
One of the major problems with online shopping in the apparel sector is not knowing if the product will fit properly. At a brick-and-mortar store you can just visit the fitting room, online you must rely on confusing measurements listed by the vendor. To add to the mess, different manufacturers and designers have different ideas of what a Medium or a Large shirt should be.
Recently, MySize Inc (NASDAQ:MYSZ) has developed an innovative solution that will give online shoppers ease-of-mind when purchasing clothes online. The MySizeID app will allow online shoppers to measure themselves with their smartphone to match them with the proper size of specific brands.
To the consumer, this is great. In a study done by Bodylabs, roughly 85% of shoppers say they “would purchase more apparel items [online]” if they knew they would fit.
The MySizeID app is a solution to an issue that has not been attacked yet by many retailers trying to go online. The companies own estimates say they can increase the average order value by about 20% and reduce returns by 30%. This is huge when combined with the 85% of shoppers who said they will purchase more often online with a solution like MySizeID app.
As a consumer, what do you think about the MySizeID app? Would you be more likely to purchase apparel online using it?
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