iTRY - A Fitting Room in your Hand

Apparel retail is a huge $1000 billion industry that is expected to grow to more than $2000 billion by 2025. However, there is a very considerable difference in the conversion rate between physical stores and online stores. According to studies, while the conversion rate for physical stores is about 30-40%, the conversion rate of online apparel market is only around 2-4%. This means only 2-4 out of 100 people visiting online stores actually make a purchase.

Based on a recent survey, the main reason for such a low conversion rate is the lack of personalized experience in such online shopping, and retailers could increase sales by $9.8 billion per year with just modest improvements in customer experience.

The studies show behaviors of shoppers buying apparels from physical stores follows the steps below:

1. The shopper enters the store
2. She browses clothes and apparel in the store
3. She selects one (or few items)
4. She goes to the fitting room to try the selected pieces
5. She asks her friend (or the staffs) for recommendation whether the try-on clothes looks good on her
6. Finally if she satisfies with the look, she will make the purchase

These steps for both online shops and physical stores are summarized in Table 1. As can be seen in this table, there are two missing steps in online shopping compared to the physical one: i) clothes try-on, and ii) advice and recommendation. As a result, there is a substantial difference between the conversion rates of these two shopping methods. This is in line with the research outcome of the market survey as both missing steps in online shopping are related to the lack of personalized experience in e-commerce. Therefore, an online solution that can provide try-on experience in e-commerce and also being empowered with “How do I look?” advice, should be able to increase the conversion rate and reduce the gap between the physical and online shopping experiences. In fact, in some pilot programs, virtual dressing rooms resulted in more than a 50 percent increase in conversion rates for first time buyers and a 30 to 50 percent reduction in product return rates vs. online.

iTry solution can be easily integrated to e-commerce platforms and it is expected to increase their conversion rates by 10X.

In addition, through its smart recommendation technology, iTry can recommend clothes and accessories that are more suitable to users and hence it will further increase the sale of e-commerce platforms.

Besides increasing the sale, iTry will help e-commerce to reduce their unwanted cost. A significant percentage of online purchased clothes is returned based due to mis-fitting issues. According to a study by the University of Regensburg the return rate in apparel industry is between 25-50%. Based on another study, the annual global cost of mis-fitting return is More Than 500 Billion Euros. Exploiting iTry solution that allows users to try different sizes virtually and then select the right clothes for themselves can significantly reduce such return cost.

AYNE Pte. Ltd

Here are the core product technologies:

1. Body Analytics technology that analyzes the shoppers’ body images, extracts key feature points, measures body sizes, categorizes body shapes, and analyzes the skin-tone based on a set of input images (front and back images) from the user.
2. Clothes Analytics technology: this technology digitizes clothes pieces and creates a 360 degree model of it with some meta data about the sizing, colors, patterns, texture, style, etc.
3. Virtual Try-On: This technology provides a fitting room in a user’s palm so she can try different clothes on her own images to see how looks before making a purchase in an e-commerce platform.
4. Smart recommendation: By combining Clothes Analytics with Body Analytics, iTRY recommend clothes to users based on their sizes, body shapes, and skin tones. So it will be a unique recommendation for each user.

Based on the above core technologies, here are the main product features of iTRY solution:

• True-to-Life try on clothes virtually on end-users own images
• Mix & Match Try-on
• Try on different sizes for the same clothes
• Smart recommendation
• Social network sharing as new advertising platform for the SMEs
• Seamless and automatic integration with any e-commerce used by SMEs

Here are the product benefits for end-users (i.e. online shoppers):

1. Allows users to try-on clothes on their own images (rather than seeing the clothes on a customizable avatar). So our solution is the closet to physical clothes try-on in a real fitting room.
2. Allows users to try clothes in different sizes (not available in any other solution). So our solution saves customers’ headache on choosing the wrong size.
3. Mix&Match different combination between users’ wardrobe and available online clothes to decide what combinations to buy.
4. “How do I look?” feature by sharing the try-on result to social networks. Please note other virtual try-solutions are based on 3D graphical avatars and therefore there is no motive for users to share it. So our solution has a unique viral effect, which is not available in the current e-commerce.
5. Smart recommendation based on users’ skin-tone and body shape (rather than previous and most popular purchases in current e-commerce solutions). So iTRY users will receive personalized styling advice.
6. iTRY makes online shopping easy, fast, and fun! No need to spend lots of time searching and browsing items. With iTRY solution, shoppers can try as many clothes as they want by a single tap.

Here are the product benefits for customers of physical store (i.e. offline shoppers):

1. Increases the sale through Mix & Match and smart recommendation technologies.
2. Reduces the cost for mis-fitted items which are mainly due to wrong sizing and lack of look and feel in the current e-commerce solutions.
3. Increases the productivity for handling return clothes and mis-fitted items.

Here are the product benefits for physical retailers:

1. Increases the sale by opening new sale channel for them through iTRY app.
2. Increase the sale through smart recommendation.
3. Increase the productivity of staffs in the store by automating the recommendation, and reducing the number of the clothes for physical try-on.

Cost

• The product is offered under Fashion-As-A-Service.
• The costing will be $5 per a digital garment item in the DB per month.
• Note that only one digital garment item is needed for all different sizes. But different colors of a same clothes design are considered as different garments.
• So for instance, a clothes design that has two different colors (e.g. red and blue) and both with 6 different sizes (e.g. XS, S, M, L, XL, XXL), will be charged at 2 x $5 = $10 per month

Packages

There are two packages available for the product:

1. For SMEs who have less than 100 digital garment items per months in our database: The price package will be at $12K for two years.
2. For SMEs who have more than 100 digital garment items per months in our database: The price package will be at $18K for two years.

Support Training & Warranty

The product solution is offered as a service that includes all new upgrades, and warranty during the subscription period.

We will provide training for SMEs on how to use the iTRY solution.

The email and phone call support (during office hours) support will also be provided for SMEs who subscribe the solution.

For our policy, please see here

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