Consumers’ demand for tailor-made products has reached the sky in recent times. Going back a few years, this was primarily limited to personalized mobile cases and mugs where people used to have their pictures printed on their mobile case or gift personalized mugs to their close ones, and it was more or less seen in brick-and-mortar stores.
Product customization has now turned into a vast online business and it is being offered for a variety of products. Some brands have their whole business based on product customization while some are adding customization trends to their business to enhance the shopping experience.
What is Product Customization?
Product customization has made a stand in the eCommerce market and has caught the attention of e-retailers. Let’s try to understand why the Product Configuration service has gained popularity among the eCommerce merchants.
Benefits of Product Customization
1. Because Customers Like It
Starting a business hugely depends on customers’ liking towards it, and the idea of personalization has been gladly accepted by the customers.
Product customization adds a personal touch to the product. 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.
Since customers like the personalization concept, it provides Brands with an excellent opportunity to excel in the eCommerce market.
2. Product Customization builds Customer Loyalty
One of the major benefits of product customization is that it develops customer loyalty. And there is no better way to gain customr loyalty than offering them full access to design the product as per their taste. The primary reason for earning that loyalty is customer satisfaction.
Apart from customer loyalty, product customization enhances brand loyalty. If you provide your customers with ample customization options, they will more likely feel attracted to your brand and would prefer it over your competitors in future purchases.
Product Personalization establishes a connection between the brand and the customers and improves customer retention to a significant level.
3. Get More Sales
Moving further to the advantages of Product Customization is that it brings you sales.
In the end, there is only one thing that matters- the number of sales. If you have made your customers loyal to your brand, sales aren’t going anywhere.
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. I 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.
Also, as per Invesp, 59% of the marketers are getting a good ROI after offering the product personalization facility.
Product Personalization also encourages word-of-mouth marketing because if one customer feels totally satisfied with your services, he or she would definitely recommend your Brand to others. This way, you can expect a higher count in your sales figure.
4. Get Better Insights into your Customers
Adding to the benefits of product customization is that a personalized purchase gives you a more detailed analysis of your customer’s preferences, likings, and taste than a normal purchase.
When customers purchase customized products, Brands can collect that information and utilize it to offer products based on their previous preferences.
So, we can say that Product Personalization helps you know better about your customers and offers you an advantage over your competitors.
5. Take your Online Business One Step Ahead
According to some stats collected by Invesp,
53% of the online shoppers feel that brands that offer product personalization provide a valuable service.
45% of the shoppers are more likely to shop from a store that offers personalized recommendations.
The increasing popularity of product customization has made the online shopping experience intriguing for the customers. So, it is high time to start offering product customization services and take your business to the next level.
If you have an eCommerce website on the Prestashop Platform, you can consider using PrestaShop Product Customizer/Designer.
6. Increased market share in the gift business
With the introduction of technology, India’s gifting business has seen a transformation. Online gifting has exploded in popularity in recent years, with an estimated market value of $84 billion by 2024.
People enjoy providing personalized gifts to their loved ones. And personalizing a product turns an otherwise mundane item into a thoughtful present!
Offering a product customization facility helps you own the gift product industry as more and more transactions are made online.