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True Fit to reach 100 million registered users mark
24 Mar '19
3 min read
Pic: True Fit
True Fit, the data-driven platform that made the industry's Fashion Genome, which personalises consumers’ journey for footwear and apparel brands and retailers, is all set to reach the mark of 100 million registered users, with 73 per cent YoY growth, as it continues structuring the largest connected data set for the global footwear and apparel verticals.
True Fit developed the Fashion Genome in partnership with hundreds of global retailers and thousands of leading footwear and apparel brands. It maps detailed style and fit attributes for footwear and apparel styles, which produce over 50 per cent of the global market's revenue, to the style and fit preferences of nearly 100 million users who have opted in to share their purchasing data and help retailers show consumers the styles they will love and keep.
True Fit runs a sophisticated concert of AI models to match attributes and preferences, constantly refining its recommendations with machine learning on 3 billion units of purchases and returns by 550 million shoppers in the anonymised cross-retailer data set that allows retailers to delight loyal customers with more personalised service. Now True Fit's platform – historically used for online personalisation by over 200 major retailers and thousands of brands – has adapted to optimise online and offline activity, adding increasing value to retailers' store operations.
In 2018 True Fit signed over 50 new major global retail clients. As fashion retailers are constantly innovating at pace to accommodate fast-moving changes in consumer behaviours, True Fit's retail clients are embracing the vision to improve the shopping experience by personalising every touchpoint of the customer journey. With 75 per cent of customers preferring brands who deliver a personalised offer or shopping experience, 94 per cent of retail executives identify personalisation as critical to current and future success. True Fit's Personalisation Platform directly addresses this business-critical capability to increase conversion, reduce returns and consistently grow customer lifetime value by 3-10 per cent.
In 2018 True Fit launched three new products to support retailers' needs -True Discovery which provides AI-driven personal style rankings to enhance recommendations, True Insight which helps retailers make intelligent, data-driven marketing, merchandising and design decisions, and True 360 which enriches a retailer's 360-degree view of the customer and allows for new levels of intelligence to enhance CRM.
William R Adler, True Fit CEO, said: "We spend most of our time listening to retailers, who advise us on how to adapt the Fashion Genome to meet more of their needs. They are urgently racing to curate the vastness of their fashion offering to resonate with each customer, wherever they are on the journey. And we're thrilled to have very quickly built the True Personalisation Platform, the first of its kind to serve the specific needs of the £1.5trillion apparel and footwear vertical. By structuring and connecting data across devices, retailers, and brands we've unlocked incredible insights about each consumer and what they love. It's ushered in a new dawn of true personalisation, where we can finally fill in the gaps retailers need to know about their consumers to serve them better."
Adler continued: "Our vision is to help consumers seamlessly discover clothes they love, and the best way to achieve that is by enriching the virtuous circle of personalisation beyond our own platform. Over 100 other incredible companies provide personalisation services to retailers and, now that we can integrate with that ecosystem of providers, the consumer benefits dramatically, as does the retailer." (SV)
True Fit developed the Fashion Genome in partnership with hundreds of global retailers and thousands of leading footwear and apparel brands. It maps detailed style and fit attributes for footwear and apparel styles, which produce over 50 per cent of the global market's revenue, to the style and fit preferences of nearly 100 million users who have opted in to share their purchasing data and help retailers show consumers the styles they will love and keep.
True Fit runs a sophisticated concert of AI models to match attributes and preferences, constantly refining its recommendations with machine learning on 3 billion units of purchases and returns by 550 million shoppers in the anonymised cross-retailer data set that allows retailers to delight loyal customers with more personalised service. Now True Fit's platform – historically used for online personalisation by over 200 major retailers and thousands of brands – has adapted to optimise online and offline activity, adding increasing value to retailers' store operations.
In 2018 True Fit signed over 50 new major global retail clients. As fashion retailers are constantly innovating at pace to accommodate fast-moving changes in consumer behaviours, True Fit's retail clients are embracing the vision to improve the shopping experience by personalising every touchpoint of the customer journey. With 75 per cent of customers preferring brands who deliver a personalised offer or shopping experience, 94 per cent of retail executives identify personalisation as critical to current and future success. True Fit's Personalisation Platform directly addresses this business-critical capability to increase conversion, reduce returns and consistently grow customer lifetime value by 3-10 per cent.
In 2018 True Fit launched three new products to support retailers' needs -True Discovery which provides AI-driven personal style rankings to enhance recommendations, True Insight which helps retailers make intelligent, data-driven marketing, merchandising and design decisions, and True 360 which enriches a retailer's 360-degree view of the customer and allows for new levels of intelligence to enhance CRM.
William R Adler, True Fit CEO, said: "We spend most of our time listening to retailers, who advise us on how to adapt the Fashion Genome to meet more of their needs. They are urgently racing to curate the vastness of their fashion offering to resonate with each customer, wherever they are on the journey. And we're thrilled to have very quickly built the True Personalisation Platform, the first of its kind to serve the specific needs of the £1.5trillion apparel and footwear vertical. By structuring and connecting data across devices, retailers, and brands we've unlocked incredible insights about each consumer and what they love. It's ushered in a new dawn of true personalisation, where we can finally fill in the gaps retailers need to know about their consumers to serve them better."
Adler continued: "Our vision is to help consumers seamlessly discover clothes they love, and the best way to achieve that is by enriching the virtuous circle of personalisation beyond our own platform. Over 100 other incredible companies provide personalisation services to retailers and, now that we can integrate with that ecosystem of providers, the consumer benefits dramatically, as does the retailer." (SV)
Fibre2Fashion News Desk – India
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