It’s no more about gifting or keeping personalized products as show pieces in drawing rooms. Product personalization has come a long way from there. And ecommerce surely has a great role to play in its fame.
People are getting more confident about buying online now than ever before as ecommerce businesses go that extra mile to win that trust. One of these steps taken is this direction has surely been this trend of personalization of products.
But is it just a phase or something that’s going to stay and have the same (or more effect) than it’s having now? We have tried to answer this question in the blog post.
First, Why Personalization?
To understand the reason behind the success of personalized products we need to look into the psychology of the customers’ regarding these products. People nowadays have this thing of owning belongings that clearly say it’s theirs.
Consumers tend to love what belongs to them in the true sense and therefore are welcoming and accepting personalized products with open arms. On the part of the seller, it helps build customer loyalty and customer engagement with the brand and also helps them generate more revenue but charging extra for personalized products.
How the trends has changed over the years?
Earlier it was restricted to a few gift related or marketing products which were to be printed at traditional printers on orders. The designs were more or less limited to the default ones that the printer(s) had to offer. But that is changing now. Ecommerce stores are adopting it increasingly to increase their customer’s loyalty and relationship with the brand. People are embracing it more than ever before.
A product with their name or any other personalization is preferred more than the same products without any customization. The affordability of these products has also increased which answers for the popularity of customized goods in spite of being more expensive than the same product without their stamp on it.
What all is being personalized?
As stated, it’s no more limited to coffee mugs and t-shirts, something we all can instantly relate to personalized products. Now, from a bar of chocolate to high-end cars, everything is being personalized. Lately, popular brands like Nutella are also keen on offering personalized jars to its fans and it’s already creating a hullabaloo in the market. Cadbury had been an old player here which embraced the concept pretty earlier.
Sports brands like Nike, Adidas, and others are also plunging into the market with great enthusiasm. All kind of brands be it selling kitchen wares, personal grooming products, apparels, or eatables, everyone is prepared or planning to launch their customized segment in the market.
Is technology advancement the reason?
To a large extent, yes. Personalization reached this stage of popularity because of the easy availability of product designer software available in the market. And for those using popular ecommerce platforms like Magento, it’s even easier as you just need to install a good product designer extension and you are all set! When technology becomes more commonplace, it’s gets adopted more, provided there is enough demand in the market.
And when it comes to personalized products, there is huge demand in the market. So today, if you have an ecommerce store and you have a process in place for printing, getting the online technology to allow your customers to customize products online, isn’t difficult anymore.
It’s Here To Stay
Any trend that has the potential for being profitable for businesses can be a temporary fad and will be part of their business strategy. Not all ecommerce business can adopt product personalization but as technology becomes more and more accessible and cheaper, many will. And competitors will follow suit.
Digitization is going to stay and so is the demand for personalized products. It’s certainly not a fad as consumers’ psychology with personalized goods will remain the same more or less. Moreover, the trend is still to witness its peak (and already doing great) so it would be wrong to say it’s just a fad. Consumers are not going to get bored of these products any time soon.
In fact, personalization is still spreading over to arenas it is still far from. More and more brands and companies are looking forward to adopt it and most will do it really soon. It’s not only about changing a few aspects of the product but rather forming a more personal and emotional relationship with the customer, which is not a short term trend but something that comes with long term benefits.