The acquisition of Fit Analytics will help the popular Snapchat messenger to penetrate deeper into the world of e-commerce.
Snapchat developers have been trying to turn their creation into a more advanced trading platform for quite some time now. Thus, previously reported cooperation with american eagle, which resulted in the introduction of the AR Jeans Guide lens, through which customers can try on the brand's jeans in augmented reality and buy them. A collaboration with Perfect Corp. followed, giving Snapchat users the ability to access a virtual storefront of over 200 beauty brands. There were other projectslike collaboration with Adidas.
The acquisition of Fit Analytics continues this trend. Based in Berlin and Chicago, this company specializes in virtual fitting and machine learning sizing systems. The company's developments are already used by some worldwide brands, such as Calvin Klein, Puma, The North Face, Asos, Patagonia, Lacoste, Tommy Hilfiger and some others. Thanks to the developments of the company, these brands have the opportunity to create clothes that are perfect for a variety of body shapes.
The history of Fit Analytics began in 2010, initially the company was called Upcload and provided body measurement services using a webcam. Her service was eagerly used by consumers who want to buy clothes on the Internet, but are not sure of their size. The service turned out to be in demand and Fit Analytics' business quickly took off, it offered a number of solutions that are useful not only for buyers, but also for clothing manufacturers. According to official information, by December 2020, the company had provided more than 1 billion clothing recommendations.
Snapchat management rightly believes that Fit Analytics technology will be in increasing demand amid growth in online clothing sales. This means that interest in virtual fitting technologies will only increase. Consumers returned $428 billion worth of goods to retailers last year, according to a study by the National Retail Federation. The latest technology will allow Snapchat users to immediately find the right size and reduce the number of returns.