My Size Inc. (NASDAQ: MYSZ) stock surged by 24.87% at last close whereas the MYSZ stock price declined by 4.13% in the after hours trading. My Size has created a unique measuring technology built on advanced algorithms and cutting-edge technology that can be used in a variety of sectors, including clothing, e-commerce, DIY, packaging, and parcel delivery.
Recent Past Development
MYSZ announced the launch of their platform of direct-to-retailer sizing on April 28, 2021. Customers shopping for footwear and accessories online will get highly precise sizing from more than 120 retailers using the MySizeID app, with tips appearing directly on the retailer’s website. It aims to personalize the online customer shopping experience by bringing shoppers and brands together.
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The direct-to-retailer sizing incorporation is intended to minimize the number of customers buying the wrong size item, which is especially relevant given reports of up to 40% rate of return for e-commerce stores, which harm both the bottom line and the environment. Through arming customers with extremely precise sizing information, MySize helps transform purchases that would otherwise have culminated in refunds into revenue, where the consumer orders a product they’re more likely to hold.
The MySize app, which uses sensors already installed into customers’ smartphones, allows users to get highly precise clothing sizes in any brand of clothing in seconds. Customers may choose the size of an object is the best match for them when shopping online, eliminating the need to visit a physical shop. The app is intended to provide shoppers with a seamless shopping experience free of dressing rooms and check-out queues, as well as the assurance of proper fit.
This recent positive development in MYSZ could have caused the stock price to rise whereas the decline in MYSZ stock is unknown to us.