What: eComID and Pinterest introduce tech solutions to improve fit and reduce product returns.

Why it is important: These innovations are crucial for tackling the retail industry's challenge of high return rates, which result in significant financial losses. By enabling consumers to make more informed choices based on body type or encouraging sustainable shopping behaviors, both companies aim to enhance the shopping experience, reduce waste, and foster a more sustainable and inclusive retail environment.

Pinterest and eComID are leveraging technology to address the issue of product returns, which cost U.S. retailers USD 816 billion in lost sales in 2022. Pinterest introduced body type ranges for women's fashion and wedding ideas searches, using AI to categorize over 3.5 billion images on its platform without naming specific body types, aiming for greater inclusivity and higher engagement. During its soft launch, the feature showed a 66% increase in engagement per session. Meanwhile, eComID, supported by H&M Fund, offers an AI-powered platform to encourage mindful shopping and reduce returns by rewarding sustainable consumer practices. Founded in September 2023, eComID has raised about USD 3.28 million in investment and is operational in Europe, the U.S., and India, serving brands like Afound and Arket. Both Pinterest's and eComID's initiatives represent significant steps towards addressing the return challenge in retail by making shopping more personalized and environmentally responsible.

eComID and Pinterest innovate to enhance fit accuracy and minimize returns in retail