Today, The Product Customization of a product has become the primary aspect of almost every business. In recent times, tailor-made products are in high demand. Hence, to stay relevant to the ever-changing market need, every manufacturer is eying the customization of products to enhance customer experience.
What Is Product Customization?
Product customization is a process that involves supplying personalized products and services according to the customers’ needs and desires. The features, colors, and elements are altered according to consumer preferences. Here the customers’ choice is the priority, and the products are customized the way they prefer them.
Customization is now considered a crucial factor in sales promotion as it has the power to attract consumers effortlessly. The process of customization tempts the buyers to purchase the product. This has become one of the thoughtful marketing strategies of the manufacturers.
Industries Embracing The Strategy Of Product Customization
To sustain in this competitive market, many manufacturers have evolved the concept of product customization. This strategy is working in favor of several industries with the changing global trends in customer demands.
The fashion industry is believed to be the largest industry in the whole world. In 2021, it generated a revenue of 1.5 trillion U.S. dollars globally. More than 150 billion items of clothing are produced per year. Starting from renowned brands to simple funky brands are putting up jeans, t-shirts, shirts, tops, bags, and jewelry for consumer preferences.
The wholesale women’s joggers industry has achieved remarkable growth by embracing product customization needs. Even many top shoe and watchmakers have implemented this customization concept for better revenue figures and to survive in this competitive market.
This industry has benefited the most. A significant rise in demand for customized gift hampers like cards, photo frames, mugs, cushions, lamps, and other similar items has been noticed remarkably in recent years. Sometimes These gifts are creative and very unique in their way of bringing a smile to loved ones.
On the other hand, this option allows choosing the perfect gift for someone according to the taste and desire of the person they are gifting. To cater to the increasing demand for customized products, it has become the primary objective of a luxury packaging company to offer attractive packaging. That way, gifts would appear more creative, appealing, and desirable.
Gadgets And Technology
The top leading companies are now venturing into the world of customization. Several accessories are available for the gadgets like mobiles, laptops, and computers that can be customized uniquely and effortlessly. Many companies offer customization of color, body, and space of gadgets. Surprisingly, the operating system of a laptop can also be customized. Even in the case of technologies, many apps can be customized according to the needs of the consumers.
The concept of customization is innovative and is gaining popularity with time. By implementing this option, the industry can satisfy the customers’ expectations.
The Benefits Of Product Customization
Rise in demand for customized products – At present, customized products have gained a lot of popularity. According to a recent study, it has been observed that 36% of customers choose customized products. Customers can easily relate to these types of products. The emotion of self-belonging forces them to choose themselves over another mere product.
Inspiring the customers to pay more – Alongside customer satisfaction and better sales potential, this concept inspires customers to pay more for the products. It has been observed that customized product sales can be increased up to 50% or more over non-customized ones. This is due to an occurrence of personal feeling about the products that forces them to spend more on customized products.
Creating customer loyalty – Customized products lead to increased customer satisfaction. When customers gain a positive experience using the desired product, they tend to return to buy the products from that same shop for future purchases.
Setting a more realistic delivery time – Many online websites schedule unrealistic delivery times. Customers opt for next-day delivery or sometimes even want same-day delivery. But when it comes to customized products, the customers understand that the products need an increased delivery schedule.
Improving e-commerce sales – Customization helps boost the sales of the industries that offer simple products to more complicated customized products. Retailers can observe a significant rise in sales. The main features of product customization are materials, colors, different functionality, and dimensions.
Staying ahead of the competitors – The market offers tough competition among millions of E-commerce retailers. But this unique concept of product customization attracts more and more customers gaining a competitive edge. Still, some companies have not implemented this concept and are deprived of its benefits.
Even though product customization is inevitable to sustain with ever-changing market requirements, there are other sectors where the idea of customization is not essential. If an analysis is performed on the usage of globe valve vs gate valve, it can be observed that the shape of such equipment is manufactured in a way that it is likely to fit in the desired places.
Several parts are designed just like that taking into account the customers’ requirements. Thus, even though product customization is a blessing for some manufacturing sectors, there are other industries too that can pull off their work effortlessly with their unique technologies.