AI for trying on clothes
AI for trying on clothes
A good idea for your startup
Trend: The idea hits a trend in fashion retail, where hyper-personalization is gaining popularity. This aligns with the broader global megatrends of integration of AI into various industries, as well as total personalisation of experience. In addition to this, it addresses the landscape of e-commerce by providing a solution to a common challenge in online apparel shopping – accurately determining the right size like in person try-ons and reducing returns.
Investors' Bets: Research indicates that one in every third piece of clothing purchased online is returned, costing retailers 30 billion euros annually worldwide (800 million euros in France alone) and leading to significant environmental damage - 35 million tons of greenhouse gases per year globally.
The French startup Kleep, specialising in the development of generative AI, has secured 1.8 million euros. Kleep has created a platform for product search based on generative artificial intelligence, enabling brands to reduce size-related returns by 50% and increase conversion by 15-25% by boosting buyers' confidence and satisfaction with their purchases.
Kleep has quickly gained the significant interest of key players in the fashion and e-commerce industries. Just a year after its launch, the company serves 20 active clients. In the near future, the company will announce the signing of a strategic contract with one of the leading French retailers, attracting over 50 million visitors to its website annually.
I imagine this tool will evolve until it is able to create fashion looks with predictive personalisation (e.g. based on your mood, whether you're in your city, etc.).
To-Do: Consider developing something similar for your regional e-commerce. And given the boom in second-hand apparel, it may be a good idea to choose this niche.
If you're unsure where to start, visit an incubator's page. If you already have a project and need funding for your startup, click here for more details.
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