23 February 2023, Brussels / Paris Creating a Sustainable and Engaging Fashion Industry with YourFit by 3DLOOK Vadim Rogovskiy, co-founder and CEO of 3DLOOK, is a serial tech entrepreneur and investor, partner at Geek Ventures. 3DLOOK, an industry-leading fashion technology startup, has developed YourFit, an award-winning virtual fitting room that delivers personalised and engaging shopping experiences for fashion retailers in order to minimise returns, emissions and textile waste while improving sales and customer satisfaction. Transforming the Fashion Industry with Cutting-Edge Innovation In 2016, Vadim founded 3DLOOK to develop technology that could accurately measure the human body using a smartphone camera. This would solve a problem that organisations had been struggling to overcome for two decades. The fashion industry desperately needed a solution, but the technology back then was incapable of generating accurate results while delivering a user-friendly experience. However, 3DLOOK changed the game, and now it has over 80 clients, with some major Fortune 500 brands soon to join its growing list of partners. The COVID-19 pandemic has influenced consumer behaviour with an increasing number of consumers purchasing online and taking advantage of free return policies. Without change, this will only lead to increased carbon emissions, textile waste, and poor working conditions for factory workers as the industry attempts to nullify the financial burden of free returns. However, 3DLOOK addresses the environmental and ethical challenges brought about by the increasing popularity of e-commerce. Revolutionising the Online Shopping Experience YourFit is an AI-powered retail solution that simulates the dressing room. Using a widget placed on partner brands’ PDP pages, customers can scan themselves with their smartphones and obtain very accurate size suggestions according to their body shape. They can also receive a photorealistic virtual try-on experience to see how the item will look on them. YourFit is an essential tool for fashion companies fighting against unsustainable return rates. Shoppers are less likely to ship back purchases because they trust the recommendations they receive and can see exactly how their purchases will look on them. On average, YourFit helps brands reduce returns by as much as 6% while increasing conversions by up to 16% and average order value by 25%. Moreover, this is an excellent indicator of a brand’s commitment to sustainability. Younger consumers are gravitating towards companies with a clear mission statement centred on environmentally responsible operations, and they can readily detect when a brand is not authentic. YourFit offers a low-effort solution that makes a big difference for today’s conscious consumers while enabling brands to take a significant step towards achieving their sustainability goals. YourFit helped TA3 SWIM, a brand recognised for its sculpting swimsuits, minimise product returns. Matching buyers with the correct size is critical because they offer inflexible shapewear. The issue is that most consumers do not know their right size, and determining it is difficult. TA3 SWIM has torso lengths that are short and regular/long, which might be difficult to measure. Similarly, size charts are overly complicated, and the bulk of people do not fit into a single size anyhow. This results in one of two outcomes: returns or bracketing, in which customers buy more than one size and return the ones that don't fit. YourFit is quite beneficial in this case since it places the measuring tape in the hands of a clever algorithm that recognises the most significant measurements and instantaneously matches consumers with their best size. Six months after launching YourFit, the business experienced a 47% drop in size-related returns, a notable accomplishment given that 70% of apparel returns in the United States are due to sizing issues. According to studies, bracketing accounts for another 12% of all global garment returns. With YourFit, TA3 SWIM reduced bracketing-related returns to just 2%, as there is no need to buy various sizes when you already know which one will fit best before you go to the checkout. Customers trust the technology as well, with 80% of shoppers purchasing the size indicated by YourFit. Making a Huge Difference in the Future Vadim Rogovskiy is driven by achieving ambitious goals and overcoming challenges that many before him deemed impossible. He is an entrepreneur who aims to find solutions to the planet's biggest problems, not for money, fame, or power. When he co-founded 3DLOOK, he noticed that many companies had tried and failed to create an accurate and convenient way to capture human body data. He realised that it was never impossible but that nobody had found the right combination of skills, technologies, and determination to make it happen. The team’s ambition is to create a fashion industry that meets the needs of everyone by helping businesses clean up their acts and individually by enabling hyper-personalised retail experiences. They believe that YourFit will become the standard for online shopping, used by all consumers around the world every time they hop online to update their closets. The pandemic has increased demand for YourFit since brands are seeking innovative ways to retain customers and maintain sales as shoppers cut back their spending. Vadim and his team's response has been to keep delivering shopping experiences that consumers love, filling them with the confidence to purchase and providing items that fit them perfectly. That way, brands can meet their sales targets, retain their staff, and pay them fair wages, so everybody wins. 3DLOOK's contribution to creating a greener fashion industry is undoubtedly a significant achievement. Through their YourFit technology, the company has achieved a steady 6% reduction in product returns for their multiple clients. Although this may not sound like a lot, it equates to an astronomical amount of pollution since the fashion industry is among the most polluting in the world. A 6% decrease across the sector would make a huge difference. As the YourFit solution evolves, the savings will only increase, indicating that this is just the beginning of 3DLOOK's journey towards a cleaner and more sustainable fashion industry. Tech Tour’s Impact on 3DLOOK The best asset of Tech Tour is without a doubt its community. Vadim believes he would not be where he is today without the numerous pieces of advice he has received from those around him, and Tech Tour makes it so simple for entrepreneurs to connect with like-minded experts and investors, ensuring world-changing ideas are given the time, money, and support they require to become world-changing innovations.