Gone are the days when you would walk into a brick and mortar store and buy an item that doesn’t match your preferences and interests. People are no longer forced to buy the readily available products as demand for personalized shopping experience continues to rise. Moreover, the rise in tailor-made experiences and e-commerce competition is evolving. Significant strides in technology such as 3D printing have made it possible for brands to embark on what used to be cost-prohibitive customization. Customers no longer settle for less when they can get eyewear or a pair of trousers that fit their specifications. Here is why customization is so popular, and its impact on customer loyalty.
On-Demand Personalization
There is an underlying demand for personalized shopping experiences in today’s business landscape. In fact, on-demand personalization is set to rise as technology makes it easier for designers to tailor clothes and shoes based on the needs of the customers. However, product customization isn’t a new concept in the business landscape. In the past, tailors and cobblers would make clothes and shoes around their clients’ needs. However, customization got lost when mass products hit the market. Top brands are making strides towards offering customized consumer goods. For example, Adidas and Nike are using smartphone apps to provide custom-designed sports pants and shoes. Customization is gaining popularity in nearly all aspects of life ranging from entertainment habits to online purchasing behavior. In fact, online retailers are using data stored in the browsers of their audience segment to target them with digital ads. Consumers expect their favorite brands to be on-demand so that they can keep up with market trends.
Leveraging Customer Data and Insights
The growing demand for a personalized shopping experience doesn’t mean it’s the end of offline retail stores. After all, nowhere else can customers find a completely personalized shopping experience than in a brick and mortar store equipped with every product they desire? Online retailers are making strides towards offering high-value services and unique shopping experiences to push potential customers into their online stores. Over time, advances in technology will support and enhance retail experience. Top brands are using big data and market insights to improve retail experience. The wealth of data stored on different social networking platforms is making it easier for retailers to transform the shopping experience. In fact, e-retailers can design tailored products based on customer in-store behavior. Moreover, brands can blend their offline and online presence by transacting outside the store.
Technological Creativity
The concept of using technology to create products around the needs of the clients is still in its infancy. In fact, utilizing technology just for the sake of it will only dissatisfy and frustrate your loyal customers. However, there are many ways retailers can leverage technology to retain their loyal customers. One of the ways to increase customer retention is to offer personalized recommendations. For example, a retail clothing store can specialize in customized shoes or dresses for different budgets and lifestyles. Personalization enhances customer in-store experience and enables customers to get products that fit their needs, resulting in increased retention. Moreover, customization creates an opportunity for customers to interact with a brand. For example, shoe retailers can collect data about the structure and shape of the foot of their customers so that they can come up with designs that meet the demands of their target audience. Similarly, that data makes it easier for customers to update their foot profile and ensure they have accurate foot mappings. Online retailers are now using mobile-powered devices and apps to offer their customers with relevant promotions and product details.
In short, storing specific customers‘ data plays a crucial role in driving loyalty. Customers can hardly move to another store and purchase a product that doesn’t fit them knowing what they are getting from your store. The future of retail lies under customization and utilizing untapped customer data to create the ultimate buying journey.
