Objective
Fit Analytics GmbH is a Berlin-based ICT-SME, operating in the online fashion market. We are aiming to solve the two major
problems of online fashion retail:
1. High return rates (~40-50%) because many end users don’t know their size. ~65% of all returns are made due to non-fit.
High return rates have certain side effects, e.g. enormous CO2 emissions.
2. Low conversion rates to buy (less than 2% of all visitors convert into buyers; this is significantly lower compared to books
or electronics sold online) because end users are uncertain which size to buy. Today, only 9% of all garments are sold online
and 91% are still sold in brick-and-mortar stores, whereas more than 50% of all books and electronics are sold over the internet.
We have already deployed the world’s most widely-used Size Advisor (“FITA1.0”) in the market, an innovative ICT product to
help end-users find the right size online by providing simple size recommendations. Within the framework of the SME
Instrument, Phase II, we are aiming to implement a new, ground-breaking size and product recommendation solution (“FITA2.0”) which will further disrupt the fashion retail market by using exclusive cross-shop purchase and return data for highly accurate size and personalized product recommendations.
We have already developed a minimal viable product (MVP) of FITA2.0 that was successfully tested in an operational
environment (TRL6) on Gaastra, a leading Dutch-German brand.We have undertaken a commercial and technical feasibility study, with positive results, and this will form the basis for a business implementation plan to be created during the project. In order to accelerate the market acceptance of the solution after implementation, we have already signed contracts with several clients that have agreed to implement FITA2.0 in the future.
The project is closely related to the objectives of the call due to its disruptive character and planned market uptake.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
- natural sciences computer and information sciences internet
- natural sciences computer and information sciences data science big data
- social sciences economics and business business and management commerce e-commerce
- engineering and technology materials engineering textiles
- natural sciences computer and information sciences artificial intelligence machine learning
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.2.1.1. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Information and Communication Technologies (ICT)
MAIN PROGRAMME
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H2020-EU.2.3.1. - Mainstreaming SME support, especially through a dedicated instrument
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
SME-2 - SME instrument phase 2
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) H2020-SMEInst-2016-2017
See all projects funded under this callCoordinator
Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
12047 BERLIN
Germany
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.