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Sign upDresslife Personal Styling AI
A personal styling ai for faster online shopping, higher conversions and less returns
- About Company
Dresslife Personal Styling AI
A personal styling ai for faster online shopping, higher conversions and less returns
Label Date
November 9, 2020
From
United States
Maturity stage
TRL 7 - Prototype testing in the real world
Every year, the fashion industry faces greater than $35B annual losses in returns, over $60B resulting from insufficient personalization and more than $50B from overstock and out-of-stock in fashion e-commerce in Europe and the USA. Dresslife mitigates these losses with its Personal Styling Artificial Intelligence (AI) that helps shoppers find clothing they like and that fits in a faster and more conveniently way, leading to higher conversions and less returns for fashion retailers. Dresslife sorts products based on a recommendation score, reflecting the probability of a customer liking and keeping an item. Personalization is 6x more effective in all segments other than apparel, due to shorter product lifecycles and the complexity of the human body. Dresslife mitigates losses and achieves similar metrics for fashion e-commerce, by addressing the segment-specific complexities. Global marketplaces, such as Amazon or Alibaba, already reach a revenue uplift of 35% through personalization. Dresslife allows fashion retailers to maintain competitiveness and avoid losing market shares to the larger platforms.
The Environmental Benefits
- •Increases the number of items a customer sees on the first category page that they would like and keep by 31%, increasing the revenue per user by over 5%
- •Predicting fit 30% more accurately than a human, which reduces returns by more than 5%
- •198,100t less carbon emissions generated
- •Potential to It could be Potential to decrease about 250M pounds or 125.000 tons of clothing waste
The Financial Benefits
- •5 – 10% additional generated revenue per user
- •Immediate payback time: greater than 5% net revenue, saves more than 5% of return costs
Target client profile
Tags
Applications
Benefits
Activity Region
- Headquarters
- Activity
Company Profile
dresslife, Inc.
Dresslife makes personalization work in fashion for greater uplift
Headquarters
San Francisco, Kalifornien 94127, USA
Type
Startup or self-employed
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The information set out above, is solely for the purposes of information and the Solar Impulse Foundation does not provide any guarantee as to its authenticity, completeness or accuracy. This information does not constitute investment advice or a recommendation to buy into, transact or to enter into any agreement with any of the parties or persons mentioned above. Potential investors or interested parties are solely responsible for their investment or business decisions and for performing any due diligence required by the circumstances. The innovator dresslife, Inc. has asserted ownership of the intellectual property rights for images, videos, and content showcased above, affirming full and unrestricted usage rights, and has provided explicit permission for the Solar Impulse Foundation to publish such information designated as "public" in the application form.