MYSZ stock rose in morning trade on October 26, 2021, after the company announced a contract from Dockers.
MySize Awarded Contract from Dockers (Turkey)
AIRPORT CITY, Israel, Oct. 26, 2021 /PRNewswire/ — MySize, Inc. (NASDAQ: MYSZ) (TASE: MYSZ.TA) (“MySize” or the “Company”), the developer and creator of innovative measurement solutions, is pleased to announce that it has been awarded a contract from Dockers (Turkey), an American brand of garments and other accessories from Levi Strauss & Co. (NYSE: LEVI).
After a year of proven success with Levi Strauss & Co. Turkey (Levi’s Turkey), Dockers (Turkey) has decided to integrate MySize’s proprietary AI-driven sizing technology solution. The successful integration of the MySizeID widget has reduced return rates for a subsidiary of the world’s global leader in jeans wear.
Mrs. Duygu Durak, Dockers Business Development Manager of Dockers (Turkey), stated, “We have witnessed firsthand how MySize has enabled Levi’s Turkey reduce return rates by up to 47%, saving the company on the costly reverse logistics. Getting to know our customers better and reducing the hassle, time and expense of merchandise returns, while becoming more sustainable, are all reasons for integrating MySize into our offerings. Demonstrating a strong Return On Investment (ROI), MySize is poised for expansion within our family of brands and geographies.”
Ronen Luzon, Chief Executive Officer of MySize, commented, “Our successful integration and results with Levi’s Turkey has led us to this additional opportunity. We believe our land and expand strategy of initially working with a part of a larger company and then being able to penetrate additional brands and geographies within that company will enable us to accelerate our revenue growth in a much quicker timeframe. We look forward to continuing to work with Levi’s and Dockers in improving their conversion rates and lowering their return rates, resulting in a better customer experience and cost savings.”
MySizeID Now Available for WIX ECommerce Apparel Brands, Helps Retailers Drive Customer Size Confidence and Revenue Growth
On September 13, 2021, MySize, Inc. announced that MYSizeID is available to Wix eCommerce stores and can now easily be deployed by downloading the MySize API. In addition to this integration with Wix, MySizeID is helping eCommerce retailers on multiple platforms, such as Shopify, WooCommerce,, Bitrix, and LightSpeed, alongside leading brands Levi’s, Speedo, US Polo, Boyish Jeans and many others.
Wix customers implementing MySizeID TM into their eCommerce sites will receive three months of MySize expert support (new customers only) to optimize the MySizeID AI-size widget on their eCommerce site. Additional Wix customer support features include a chatbot capability, along with a new MySizeID help center for Wix users.
Brands utilizing the AI-powered MySizeID have benefited from increased revenue per visitor, conversion rates, and average order value (AOV). An internal MySize eCommerce business intelligence report found that in 1H 2021, AOV rose by an average of 15% while eCommerce conversion rates grew by an average of 2.75x when MySize tech was applied to 40% or more of product listings.
“The pandemic has accelerated the evolution in eCommerce for many small and mid-size brands, and according to Wix, the number of active stores on their platform increased 200K, to over 600K in 2020 alone, and we’re thrilled that MySizeID will now be available to Wix store owners,” said Ronen Luzon, MySize CEO. “MySizeID can add real value to small and mid-size companies on the Wix platform by increasing customer confidence in size selection, and thereby reducing return-related operational costs.”
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MYSZ Stock Technical Analysis
The technical rating of MYSZ is bad and it also does not present a quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation. Click here to sign up for email alerts on when MYSZ stock presents a good setup entry.