Product customization is the new buzzword. Businesses are leveraging it with the help of a product design tool to boost their sales, customer satisfaction, and growth. Contrary to the common belief, product customization is no longer limited to the eCommerce industry. It has spread out to other industries as well. There are many industries that gain profits from it. Let us have a look at the top three industries that can benefit from product customization.
Arguably, the fashion industry is the one that has the best use case for product customization. I mean why not. Fashion is something which we admire the most when it is unique and trending. And nowadays, customers do not want to wait for the designers to come up with the trend. Instead, they themselves want to design and define fashion for themselves.
According to a study by Deloitte consumer review, more than 50 percent of customers have shown interest in buying customized products. In addition, around 67% of fashion personalization brands have said that they are ready to increase their spending to customize footwear and apparel. These stats clearly state that customers want to personalize and fashion brands are ready to spend more to allow personalization and customization.
Earlier, customization was something that was associated only with tailor-made and luxurious clothes of high-end brands. But now, with the increase in the product customization across industries, it has become common for several brands to offer customizable shoes, clothes, and accessories. Here, one can choose colors, style, fabrics, add numbers & initials, etc.
Big names like Nike are allowing its customers to design sneakers by allowing them to add designs and colors. Similarly, brands like Gucci and Burberry are offering their customers to design their jackets and apply different custom prints on luggages. With a product design tool, brands are trying to establish a deeper connection with their clients with these unique and customized products.
Gift industry is another industry that is benefiting from product customization. Similar to the fashion industry, in gifts also people crave for uniqueness, exclusivity, and more importantly a personalized touch. With product customization, users can achieve it all. This is the reason why the trend of customization in gifting is increasing with each passing day.
Even stats seem to suggest the same. In the past five years, the industry has increased its value by 4 times. In addition, with the increase in the global retail market, the revenue of the gifting industry is estimated to reach around $77 billion by the end of the year 2022. This indicates that the gifting industry along with corporate and personal gifts will have a lion’s share of almost 80% in the retail market share.
Gifting involves an emotional and personal touch which industry players were not able to deliver earlier. However, with the growing trend of customization along with improved infrastructure, customized gifting is bound to increase and the above stats are the testimony to it.
Automotive is another industry which greatly benefits from customization. Usually, customization in automobiles is done for comfort or for higher functionality. The trend of customization in vehicles is not a new one. When you go to buy a new automobile, you will see multiple lines, versions, trims, and upgrades that every manufacturer offers. These trims are based on variations for both interior and exterior comfort.
Each vehicle comes with three areas where customization is done. These areas are:
This happens when the users need some extra power, extra speed, additional features, or additional lighting. In such cases, companies advise customers to modify or add some parts to the vehicle.
Examples of this type of customizations are:
- Changing tire size for better grip and height
- Engine customization for extra pickup and torque
- Modification of brakes for racing
Sometimes, customization in the vehicle has more to do with the aesthetics than the performance. This is when exterior customization comes into the picture. Exterior customization can include graphics on the vehicle’s body or having a different body color.
However, it also includes some complex customizations like creating fire trucks, ambulances, or a food truck. In such cases, the customization team just designs the parts as per the aerodynamics requirements, weight restrictions, length and size parameters, etc.
Interior or comfort conversions are more than just looks and luxury. It also aims to provide target oriented equipment and usability. For example, a food truck requires its interior to be in such a way all the equipment that are required to clean, store, cook, and serve are put in a compact arrangement. This makes it safe to work, avoiding any incidents.
The use case for product customization is increasing across industry verticals. Many industries are trying to broaden their profit margins and increase customer satisfaction by offering product customization. For some industries implementing and offering customization is easier while for others it is difficult. But who knows what future has in sleeves for us. One should not be surprised if they see those unlikely industries using product customization with ease.