MY VIRTUAL MODEL TECHNOLOGY IMPROVES ONLINE PROFITABILITY AT LANDS’ END
Data from study shows that application delivers
impressive increases in online conversion & order value
Montreal, Canada, March 26, 2001 – My Virtual Model Inc. and Lands’ End Inc. released data* today confirming that the use of My Virtual Modelä visualization technology by Lands’ End online shoppers has had a positive impact on key profitability indicators, including conversion rates and average order value.
“We like My Virtual Model because it helps us accomplish our number one goal: provide great service for our customers,” said Bill Bass, Senior V.P. of Ecommerce and International at Lands’ End. “It’s always a great bonus when you find something that adds value for your customers and adds to your bottom line.”
CONVERSION RATE AND AVERAGE ORDER VALUE ARE UP
AVERAGE ORDER VALUE: The AOV of shoppers who used their model was 16% higher than the AOV of those who didn’t use a model to shop online at landsend.com.
CONVERSION RATES: Online shoppers who used their model were 19% more likely to purchase items than shoppers who didn’t use the model. ”This data confirms what retailers and cataloguers have known for years; the dressing room is an integral part of the shopping process”, said Louise Guay, President & CEO of My Virtual Model Inc. ”By giving consumers access to an interactive try-on session, we afford them greater confidence in their final purchase decision. This results in more orders of a higher value.”
Debuted in fall of 1998 on landsend.com, My Virtual Model technology allows men and women to create images of their body shape and style and virtually ‘try on’ hundreds of apparel items in their own virtual dressing room so they can see how items look before they buy. Customers can also email the model to friends or family and use the model as a shopping aid for those on their gift list.
About My Virtual Model Inc.
My Virtual Model technology is the world’s first and most comprehensive virtual online shopping application. Users personalize their own 3D model to represent their body shape and to act as their virtual identity on-line. Over three million models have been created on major North American and European retail apparel sites including Lands’ End, JC Penney and Galleries Lafayette. My Virtual Model Inc. with a staff of over 250 professionals is headquartered in Montreal, Canada.
About Lands’ End.
Lands` End is a global direct merchant of classically inspired clothing for men, women and children, soft luggage and products for the home, sold through regular mailings of its catalogs and Web site www.landsend.com. Total company sales for fiscal year 2001 were $1.462 billion. Online sales accounted for $218 million of total sales.
For further information contact: Howard Firestone, Senior Director of Communications, My Virtual Model Inc., (514) 523-5120 x 489, hfirestone@myvirtualmodel.com or Andrea Stephenson, Lands’ End (608) 935-4171, astephe@landsend.com.
*Data was gathered from a four-week period in November 2000 and was compared against data from January 2001 to check for consistent results.
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