Next layer of FitTech™ solution addresses footwear industry's broken e-commerce modelSTOCKHOLM, June 10, 2021 — (PRNewswire) — Volumental, a technology company that helps the world's top footwear retailers and brands solve fit, improve customer experiences, and transform data into fuel for profitable growth, today announced the launch of its revolutionary mobile 3D scanning solution. Developed for retailers and brands, the mobile application is powered by a computer vision backed 3D foot measurement solution paired with Volumental's robust foot measurement and purchase data from over 10 million shoppers.
In the time it takes to tie a shoe, shoppers create smart foot profiles by capturing measurements with their mobile devices. Their unique foot shape is then compared with purchase data and measurements from millions of other customers to provide personalized recommendations, accounting for nearly a dozen critical measurements including length, width, arch height, forefoot height, heel width and more.
"The e-commerce footwear shopping model is broken. There are too many returns, too many purchases of the same shoes in different sizes. It's wasteful," said Alper Aydemir, CEO and co-founder of Volumental. "No one understand foot shapes and what-fits-who as well as we do. We're really excited to bring a mobile application to market that on the front end is highly intuitive and leaves customers happy, and on the back end completes a one-stop omnichannel solution for retailers to have an interconnected view of their customers."
The recommendation algorithm becomes smarter and more accurate with each scan and purchase decision a user makes, taking into account preferences such as tighter or looser fitting footwear. Consumers can now confidently shop for shoes online knowing footwear choices will fit before they even arrive. This data unlocks the type of personalization that helps deliver on the promise of omnichannel retail, providing each customer an individualized browsing experience based on their own foot profile and preferences.
Beyond the direct financial cost, retailers must consider the impact returns have on customers, their brand's reputation, and environmental factors. Only 3% of respondents in Incisiv's Retail Returns survey believe current return rates are optimal, with 97% seeing an opportunity to reduce return rates by nearly one-third; about 3% of annual revenue. For retailers with $100 million in annual sales, this represents an opportunity for $3 million in additional revenue.
Developed by the brightest minds in computer vision, AI and footwear, Volumental continues to set the standard for FitTech as a comprehensive platform that provides a simplified shoe-buying experience, lower operating costs, decreased environmental impact and satisfied customers. The mobile solution is designed with the same technology that powers over 2,500 3D scanners in retail stores for brands such as New Balance, Bauer, ECCO, The Athlete's Foot and XXL.
In a world where shoe size labels are wildly unreliable, Volumental is the universal fit solution for footwear shoppers and the brands and retailers who serve them.
Based in Sweden, Volumental helps global footwear brands and retailers lead shoppers to their perfect fit by matching individual 3D scans to actual purchase data from millions of feet. In one click and five seconds, Volumental's 3D scanner gathers ten different foot measurements and all the data needed for our AI-powered Fit Engine to offer personalized footwear recommendations. The solution empowers retailers and brands to build a new omnichannel customer journey, reconsider the limits of current sizing systems, and unlock their unique value across channels – both in-store and online.
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|Company Name: Volumental