[November 29, 2017] |
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True Fit Triples Growth as It Becomes the Intelligent Data Layer for the World's Largest Consumer Vertical
True
Fit, the retail industry's data-driven personalization platform for
apparel and footwear, today announced it has tripled commercial growth
YoY at the end of Q3, as its presence tops over 200 major global retail
sites.
True Fit hosts the industry's most comprehensive data collective in the
nearly $2 trillion global apparel and footwear industry - the largest
consumer vertical - by connecting manufacturing design data from
thousands of leading apparel and footwear brands, anonymized consumer
order data from hundreds of top retailers, and personal preference data
from tens of millions of registered True Fit users. Using advanced AI
technology, True Fit maps the detailed style, fit, and technical
attributes from clothes and shoes to the detailed preferences of
millions of individual shoppers. This allows retailers and brands to
provide consumers with unparalleled personalization via
software-as-a-service, including personal style rankings, fit ratings,
size recommendations, fit details, and merchandising analytics.
In parallel with True Fit's tripling growth rate, its registered user
base has seen substantial growth, surpassing 50 million registered users
in 2017. True Fit expects five million additional users to join its
community during the 2017 holiday shopping season. Further, new user
growth has already doubled YoY during this year's Cyber Five period,
from Thanksgiving to Cyber Monday (News - Alert). True Fit's network of registered
users represents the largest universal cohort of digital clothing and
shoe shoppers across major retailers and brands. This confident cohort
buys more and returns fewer items, driving a four to eight percent net
incremental revenue lift to retailers in the collective network.
True Fit's growth represents both retailer ambition for delivering
personalized shopping experiences, as well as the power that connected
data offers as a proven strategy.
"The footwear and apparel retail industry has reached an exhilarating
tipping point. Consumers are shopping online in droves, and retailers
are engaging with urgency to personalize their experience and win this
vertical," said William R. Adler, CEO. "This data collective allows
retailers and brands, as well as an entire ecosystem of software
providers, to combine their strength and leverage powerful, data-driven
software to drive up results across the board. A massive virtuous circle
has formed here with big benefits for retailers, brands, and consumers."
"We dramatically improve a person's chances of success anytime they're
making a decision related to apparel and footwear," said Romney Evans,
Co-founder. "So whether you're a consumer seeking style inspiration or
you just need an extra shot of confidence that the item you fell in love
with online will actually fit you in eal life, True Fit can help. If
you're a marketer, merchandiser, sales associate, or clothing designer
aiming to delight consumers in a way that is relevant and personal, True
Fit's Genome® Platform can help."
True Fit is integrating its core Confidence
Engine® and Discovery
Engine® across every touchpoint to help retailers further
personalize experiences for browse, search, email marketing,
retargeting, in-store clienteling, chatbots and more.
Moreover, True Fit added to its suite of solutions and applications in
2017, giving retail clients more measurable results:
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Data and API integration for chatbot
virtual stylists.
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True Omni™: Integrates Confidence and Discovery into in-store
clienteling applications.
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True Fit Kids: Available for retailers that sell kids items in
footwear sizes 4C to 7Y and apparel items ET to 20. This product is a
unique version of Confidence, using newly developed algorithms to make
size recommendations for children.
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Shop for Others: Extends the power of True Fit's engines beyond
the individual by allowing each user to create additional profiles for
friends and family so that they can toggle between seeing
recommendations for themselves and their loved ones. For retailers
whose end customer is not always its shopper, this allows for
personalized gift buying online.
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True Insight™: Gives retailers access to unparalleled insights
to optimize marketing, merchandising and product development. With
this information, retailers have more visibility into returns, which
they can use to improve product and customer decision-making.
For more information on True Fit, please visit: www.truefit.com.
About True Fit True
Fit is a data-driven personalization platform for footwear and
apparel retailers. It has organized the largest platform of apparel and
footwear data through its partnerships with thousands of top brands, the
world's leading retailers, and millions of consumers. True Fit mapped
the first-ever Genome for footwear and apparel, which helps retailers
and brands unlock digital growth in the nearly $2 trillion footwear and
apparel industry. True Fit's Genome® powers its award-winning
Confidence Engine™, allowing retailers to provide highly personalized
fit ratings and size recommendations to shoppers, resulting in dramatic
increases to net revenue. True Fit is also helping to unlock digital
growth with its Discovery Engine™, which allows retailers to curate
highly personalized collections to each consumer, as well as True
Insight™, which provides retailers and brands unparalleled insights to
optimize marketing, merchandising and product development. Consumers who
use True Fit buy more, and return less: through several A/B tests
conducted by independent expert firms like Brooks Bell, True Fit
continually demonstrates a 3-7 percent incremental site-wide lift to
retailers' net revenue. Follow us on LinkedIn,
Facebook,
YouTube,
and @TrueFit
on Twitter (News - Alert).
View source version on businesswire.com: http://www.businesswire.com/news/home/20171129005704/en/
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