5 Benefits of Product Personalization
Customization and personalization open a world of possibilities for Fashion, allowing customers to experiment with a variety of designs, graphics, fabrics, colors, and more, before any physical product is made, saving you thousands (even millions) on physical samples and photo-shooting.
There are several benefits that Fashion brands can take from implementing a product customization or personalization experience at any point-of-sales. In this brief article, we lay down the 5 main ones:
1. Because customers like it
Product customization adds a personal touch to the product and add the exclusivity value to the experience. When customers design it their way, the end product not just remains a product but a feeling gets attached to it no matter whether they are doing it for their own or for someone else.
Customers will be more connected to your brand and will unlikely return purchased goods.
2. Product Customization builds Customer Loyalty
A product personalization or customization strategy establishes a connection between the brand and the customers while improving customer retention to a significant level. They will no only come back but also refer your brand more often.
3. Get more sales
Customers do not hesitate in paying extra for a personalized item because they do not see it just as a product but something of their own. We can back this through a study by Deloitte which reports that 1 in every 5 consumers would not mind paying 20% extra for an exclusive product.
The same survey shows that customers are also willing to wait a little longer to receive products that are customized by them and for them.
4. Get Better Insights into your Customers
When customers interact with digital goods and purchase customized products, brands can collect that information and utilize it to offer other products based on their previous preference.
We are already used to having our Netflix and Spotify selections personalized for us. And, that is because these company use our data to offer more personalized experiences. So, why can't I walk into a store (physical or online) and get the same feeling of my personal touch?
5. Take your Online Business One Step Ahead
According to some data collected by Invesp, 53% of the online shoppers feel that brands who offer product personalization provide a valuable service. 45% of the shoppers are more likely to shop from a store that offers personalized recommendations.
E-commerce has naturally grown as the biggest trend in Fashion and the next step in this digital acceleration is 3D product customization. Consumers want more from their digital product experiences. And, to win today, brands must give them the ability to customize, personalize, and optimize the goods to meet their specific requirements.
Customization and personalization open a world of possibilities for Fashion, allowing customers to experiment with a variety of designs, graphics, fabrics, colors, and more, before any physical product is made, saving you thousand (even millions) on physical samples and photo-shooting.
It is all about consumer engagement, more conversions and precise quantity production.
Ultimately, the key financial benefit from MASS CUSTOMIZATION are the elimination of waste and discounts, lower working capital and increase sales margins from personalized products.