Fashion Personalization: the new strategy to increase your e-commerce sales
Personalization is an excellent method for fostering business growth for Fashion e-Commerce. Many fashion businesses assume implementing product personalization on their site requires heavy investments and setup, but here we show that this is not the case.
It is a fact that personalization takes place in every facet of online and retail commerce. The term meCommerce has been coined as a result of the fact that so many online retailers rely on big data to offer a custom shopping experience for each of their customers.
With respect to product personalization, Deloitte research found that at least one in three customers wants the ability to customize their products, a number that is rapidly increasing now that the Millennial generation is gaining purchasing power.
Also, customers who customize their products or services give those companies a higher net rating (customers awarded such companies a 50% higher value) and that over half (48%) would be willing to wait longer for a customized product.
Personalized products are winning over mass offerings among customers as they become more sophisticated every day. Over the last few years, companies like Gucci and Dior have introduced customizable products to great success. When a brand and its customers work together to design a unique product, customization not only helps increase sales, but it develops a bond between the two.
Personalization is an excellent method for fostering substantial business growth among Fashion e-Commerce owners. The fact is, many fashion businesses assume implementing product personalization on their site requires heavy investments and setup.
Is there any way for Fashion brands to reap the benefits of product personalization without losing their minds and pockets along the way?
Personalized products present stores with a tremendous opportunity, so let's take a look at how to make the most of it.
Make fashion personalization as efficient as possible.
By offering a variety of colors, styles, designs, and text options to choose from, Fashion brands allow customers to customize their products in simple or complex ways. Initially, this might seem like a simple task. But, if the design and production process isn’t handled effectively, implementing it and getting the product out can be challenging. To streamline the personalization or customization strategy, Fashion eCommerce owners should take the following steps:
- The store front end should be designed to make it easy for customers to customize the different products they are offered. The products can be personalized either using one of the most popular eCommerce platforms, such as Shopify or by using APIs for seamless integration.
- A preview tool should be added to the custom product experience, so customers can see exactly how their customization will look in real life. The best way to do this is to use product personalization software that allows for dynamic, interactive previews of the products while the customers input their preferences.
- Identify a process that will ensure that each unique order is processed in time and properly (imagine receiving a personalized item that has the wrong name on it). To put it simply, this means efficiently turn customers' preferences into actual, customized products. You should choose product personalization software that includes end-to-end services so that you can connect your point-of-sales directly with the manufacture with real-time information. Consequently, the cost of manufacturing will be reduced, delivery times will be reduced and manual errors will be reduced.
- We've already talked about manufacturing, but there's one more important point to consider. Is this product going to be manufactured in-house or outsourced? It is crucial to have a structured process in order to avoid delays and misunderstandings. By eliminating the need for manual interpretation, using product personalization tools that export production files automatically makes outsourced production (and in-house production) more cost-effective and efficient.
When does personalization go too far?
There is no limit to what can be customized and it can range from something as simple as allowing customers to choose from a range of colors to something much more complex like adding monograms, textures, patterns, and even creating complete packaging.
Simply letting your client pick their product color, within your defined colors, gives them a feeling of customizing their product, as they are taking a slice of the action and co-creating what they might buy.
Don't scare your customers off by leaving them blank. Some people think that personalization means giving their customers complete control over what to design, but that doesn't have to be the case. If your customers are faced with an entire blank product, they are often confused and will abandon the product or suffer unpleasant (not to mention ugly) results. It is important to ensure that the personalization process is fun while guaranteeing a high-quality product at the end.
Customization should be determined by each brand based on the products it sells. Offering predefined product templates where customers can add a few personal touches is the best solution for a Fashion brand to kickstart with personalization but still wants to remain true to their brand’s designs and identity. How can we do this effectively? You can add a simple plug-and-play product configurator to your store. Regardless of which you choose, don't make the designing process overcomplicated with a lot of options, or shoppers may get overwhelmed and not visit your store again.
Real-time fulfillment of customer demands
For any business dealing with goods, supply and demand have always been vital. Taking care of them gets even more important when it comes to personalization. Managing these elements will determine the profitability of your business. Make a plan about how you will manage your inventory, which means how many of the products you will mass-produce based on default specifications and how many will you keep for customization.
The customization of products is also a great way to know what your customers want. You will be able to stay current on market trends, customer expectations, and the evolution of your business if you keep track of this real-time information.
Success is at hand
It is imperative that fashion e-commerce businesses understand the power of personalization. Customers not only determine how the product looks but also when and how it will be delivered. For brands to keep up with trends, it's important not just to have an online presence, but also to have an effective supply chain system. You need to invest also in a personalization tool or software which will help your customers design whatever they like. Make sure it works for your business and helps your customers come up with the best products.
Now is the perfect time to enter the booming market of mass customization! When it comes to setting up your own Fashion eCommerce website and selling customized items online, you can always talk with PlatformE about how to make it work!