(Image Source: Market Watch)
Snap announced its acquisition of Fit Analytics, a Berlin-based firm that helps customers pick the right clothing fit online. Fit Analytics is the owner of the product called Fit Finder, using machine learning and input from shoppers to facilitate the process of picking clothes sizes for online customers, in an effort to reduce the return rate.
The acquisition is an attempt of Snap to create an e-commerce platform and make in-app purchases available within the platform. Snap has prioritized making in-app purchases since Apple’s announced new privacy settings on the iPhone iOs.
Speaking about the acquisition, a Fit Analytic said: “Our main focus going forward will be to scale the Fit Analytics business and work with Snap to grow their shopping platform, leveraging our technology and expertise.”
The company will keep on developing Fit Finder and other products for its clients. Both teams will work closely with each other to deliver the initial mission of creating more opportunities for on-platform conversion.