New startup Neatsy uses AI machine learning to help you find a sneaker that fits your foot perfectly. Its app takes advantage of the iPhone’s depth-sensing selfie camera by using it to scan your foot to capture a 3D model of it. Then his algorithm will come up with sneaker recommendations that he thinks will be perfect.
Neatsy’s app fills a much needed void that will make customers and shoe manufacturers happier. Customers will be more likely to find a sneaker that fits correctly, eliminating the need to return it for a different size. And businesses won’t have to generate as many returns or continue to bear the costs that come with free returns.
Since the app relies on the iPhone’s front FaceID camera, it’s only available to iOS users as a gradual launch at this time (although it officially launches in December). The app is also currently limited to sneakers, rather than all types of shoes, and can only offer a good fit on a few brands such as Jordan Air, Nike, Adidas, and Puma. However, as the app expands its database and refines its algorithms, it will likely expand to more types and brands of shoes as it is definitely needed.
The app proved successful in commercial pilot tests earlier this year, in a focus group of 140 people. It demonstrated a 2.7-fold reduction in sneaker return rates based on size, as well as a 1.9-fold reduction in overall sneaker returns.
Shoe giant Zappos claims that customers who buy its more expensive shoe items typically return about 50% of their purchases. Satista noted that shipping back to the United States cost businesses $ 350 billion in 2017, and that figure will likely reach $ 550 billion by the end of 2020. It goes without saying that an app that can help reducing returns is a welcome technology.
Founded in March 2019, Neatsy has raised approximately $ 400,000 in pre-seed funding from angel investors for its app, which is now available in the US, Canada, UK, Spain, France, Netherlands, Italy and Russia. He also got a US patent for his 3D scanning technology and sneaker recommendations.