The 411 on Consumer Demand for Customization
The number of businesses offering product customization continues to grow and with consumer trends, like the ones highlighted below, it's easy to see why.
Smart retailers and manufacturers paying close attention to these trends are offering product customization and seeing results like the ones below.
- Revenue - Conversions increase 22-30% when product customization is offered and consumers purchase products at a 20% higher price.
- Engagement - Consumers involved in the creative process of a product spend 20-40% more time on a site and experience a deeper connection to products and brands.
- Social Promotion - Consumers who personalize products are more likely to share designs on social media. With 80% of consumers more likely to purchase an item based on a friend's suggestion and social media affecting 74% of purchases, that 'like' can go a long way.
- Customer Database - 20-25% of consumers are likely to share personal information when product customization is offered—providing businesses with intelligence and key insights.
- Satisfaction - Increased consumer satisfaction + higher conversion rates = retailers and manufacturers experiencing a 45% higher Net Promoter Score.
- Inventory & Innovation - Customization increases product offerings by 30% without actually increasing physical inventory. Businesses sell more, stay ahead of competition, and avoid obsolete inventory.
Yeah...put that on your shirt and print it.
Download the infographic below.