MySize, the developer and creator of smartphone measurement solutions is launching a new virtual coin feature that will allow e-commerce companies to provide consumers incentives to make purchases with MySizeID, cutting down the number of costly returns and lowering the carbon footprint.
The company announced the addition of a virtual coins function to its MySizeID widget, which is available to e-commerce businesses who use it on their websites and apps. By completing sustainable and size-accurate purchases from the linked businesses, registered MySizeID users can earn redeemable virtual coins.
Customers earn virtual coins as a thank you for buying sustainably after completing a transaction with the MySizeID widget. When compared to purchases made without the widget, the number of coins won on a MySizeID purchase is measured by eco-metrics – water saved, landfill waste avoided, emissions avoided. Customers can use their earned coins to get discounts, promotions, or free items in the future.
MySize claims that incentivizing customers to utilize its MySizeID widget with the virtual coin function helps shops avoid costly returns, save logistical headaches, and reduce environmental impact by empowering people to purchase correctly fitting garments.
Customers can shop with confidence knowing they're getting the appropriate size the first time with MySizeID, lowering return rates dramatically. According to the company, MySizeID has been shown to reduce returns by up to 50% and boost average order value by up to 30%.
It adds virtual coins offer transparency for consumers to evaluate how their MySizeID purchases compare to the industry norm in terms of key environmental metrics.
Ronen Luzon, CEO, and founder of MySize said that virtual money is a win-win-win situation for customers, merchants, and the environment. Customers are rewarded for completing their regular shopping and getting a very exact fit, shops save money on returns and provide a better customer experience and our world benefits from a lower carbon footprint.
Luzon added that they believe the MySizeID coins incentive program will assist their associated e-commerce retailers to create consumer loyalty. MySizeID coins are the ideal first step for businesses looking to embrace sustainability and go green. Consumers are more ecologically conscious than they have ever been, and they have demonstrated a strong preference for supporting environmentally responsible products. Brands may express their firm values around sustainability in a clear and resonant way by integrating MySizeID coins.
MySize stated earlier this year that it is working on a new AI-driven sizing solution to help online customers locate their exact size in used clothing.
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