Benzinga | Mar 18, 2021 09:27AM EDT

MySize Says Plans To Introduce 3D Try-On Avatar Feature In Q4 2021

As part of MySize's expanded suite of end-to-end tools to increase customer confidence, the company plans to introduce a 3D try-on avatar feature in Q4 2021. This new avatar feature, together with MySizeID's smart size recommendations, will provide customers with a gamification element that is fun and entertaining while increasing engagement by as much as 4x, according to company research. Over the last few months, there has been active and increased M&A activity in our industry. Fit Analytics, a Berlin company with a solution that competes with MySizeID, was acquired by Snap for an undisclosed amount. Media reports indicated that the acquisition is part of Snap's strategy to grow more e-commerce and in-app purchases to Snapchat, and in October last year, Zalando SE, Europe's leading online platform for fashion and lifestyle, acquired the Zurich-based software company Fision, a body scanning app and virtual dressing room. Acquisitions such as these, we believe, are affirmation and acknowledgment by the retail industry of the mission MySize began six years ago, with the launch of MySizeID, to utilize technology to optimize the retail industry for both retailers and consumers, and that it is a validation of our strategy going forward.