We all know about the power of the internet, but if there’s one category of goods that consumers have yet to buy en masse online, it’s clothing.
For example, while the clothing industry racks up almost $400 billion in annual sales in the United States, it only generates 8% of those sales online.
The reason for this surprising anomaly is simple: People need to try before they buy.
If you’re anything like me, however, this is one of the most boring, time-consuming routines.
That’s where European startup company, Fits.me, enters the picture. And once retailers fully integrate its “Virtual Fitting Room” technology into their operations, it will completely change the way we buy clothes…
No More Fumbling Around in the Fitting Room
It’s hard to buy apparel online when you don’t actually know how it will look on you – hence why one out of every four clothing items bought online is returned.
But Fits.me’s robotic technology is set up to solve this problem.
With its patent-pending technology, you can have a virtual fitting experience so you can see exactly how an item of clothing would fit you.
Here’s how it works:
When a retailer partners with Fits.me, it sends the company samples of all of its clothes. Fits.me then places each size on its shape-shifting mannequin and cycles through all the body shapes it knows (currently more than 2,000).
As this shape shifting occurs, a camera takes pictures of each size, creating an online database. The database is then seamlessly tied into the retailer’s website, so when a customer enters their measurements, Fits.me calls up the photo that matches the person’s exact body type and clothing size.
Take a look at Fits.me’s robot in action.
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It’s not some gimmick, either. Not only can consumers order clothes online with confidence, knowing that they’ll fit properly, early retail adopters of Fits.me’s technology are seeing that there’s money to be made…
The Benefits of the Best Fit
By providing an accurate fitting experience, Fits.me CEO, Heikki Haldre, says returns at their clothing partners were reduced by 28%, while sales increased three-fold.
“The bottom line is that retailers can sell more clothing with fewer returns, which directly impacts their P&L,” says Haldre.
In other words, it’s a win-win situation.
Fits.me is the only company I’ve seen that has the potential to completely change how clothes are sold online. Needless to say, pulling off such a feat holds tremendous profit potential for companies and investors alike – particularly with overall retail sales of almost $400 billion up for grabs. At the moment, the company is privately held, but you can bet that retailers will be lining up to incorporate the technology as it enters the mainstream. And we’ll be keeping an eye on this startup for a possible future investment.
Ahead of the tape,