Dive Brief:
- Snapchat is inching deeper into the e-commerce space. The social media app's parent company, Snap, has acquired sizing tech company Fit Analytics, according to a Wednesday blog post.
- Fit Analytics said in the announcement that the Snap acquisition would allow the company to offer more to its current brand and retail partners.
- Fit Analytics' focus will be on scaling its operations and collaborating with Snap to grow the social app's shopping platform using Fit Analytics' technology, per the announcement. The companies did not state the price of the deal.
Dive Insight:
Snapchat has had an eye on becoming a more robust shopping platform for years and has recently worked to showcase brands and improve its interactive features on the app.
Last month, American Eagle collaborated with Snapchat to create its AR Jeans Guide, which lets shoppers virtually view jeans and purchase them within the app. In December, Snapchat integrated Perfect Corp.'s AR cosmetic testing technology into the app and gave more than 200 beauty brands their own digital storefronts.
Fit Analytics noted that it will work with Snap to jointly execute next-gen shopping, fashion and style offerings. The sizing tech company currently has multiple noteworthy retailers and brands as partners, including Calvin Klein, Puma, Asos, Tommy Hilfiger, Hugo Boss and Patagonia.
Fit Analytics, formerly Upcload, started as a webcam-based body modeling service but has since evolved to become a fitting recommendation tech company, according to its website. On its 10th anniversary in December 2020, the company said it has provided more than 1 billion monthly size recommendations for customers.
With more consumers shifting their spending online during the COVID-19 pandemic, ensuring that garments fit correctly is critical for both shoppers and retailers. During the 2020 holiday season, more consumers expected to return goods bought online. And according to research from the National Retail Federation, consumers returned $428 billion worth of goods to retailers last year.
