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Saturday, August 01, 2020

On Customization

Thoughtful and considerable piece on product personalization.  Psychology at some level,  but also linking direct specific need to function as well as a statement of value.    Customer as co-creators is an interesting way of thinking about it.

The Psychology Behind Custom Product Purchases   By Liraz Margalit in CMSWire

Ecommerce firms are discovering the value of online product customization and the additional revenue potential it can generate. Over the last few years, product customization has burgeoned in the online space, as consumers look to buy a plethora of mass-customized goods from suits to handbags and shoes, from bicycles to personal computers. Deloitte found one in five consumers who expressed an interest in personalized products are willing to pay a 20% premium.

Today, many popular brands rest their entire business strategy on their ability to customize. The Nike By You website (formerly known as NikeID), for example, offers customers the ability to customize their shoes. They can pick the color of the bottom and top of their new shoes, the pattern and shoelace color, and even have an inspirational message sewn into the tongue of the shoes and the option to share their designs online.

According to Brand Channel, Nike By You has seen its online business triple since 2004.

What's the Attraction of Customization?

Customization is part of a broader trend that shifts brands' perspectives from viewing customers as recipients of value to co-creators of value. Rather than being passive, the customer is now becoming a part of the “product development” process.    ... ' 

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