Tuesday October 10th • 10:45 am - 11:45 am • Room 211-213
Declining in-store retail sales, Amazon and other market factors have left brands looking for new revenue streams and novel ways to engage potential customers. Increasingly, brands are finding that personalization is the key to differentiation. However, “personalization” means a lot of things to a lot of people.
Custom products provide brands an opportunity to offer consumers a unique product that is not available through retail channels, at a higher price and margin, and with lower returns. Nearly 30 percent of consumers age 16-30 are attracted to personalized goods and services and will pay a premium for them. According to Forrester Research, buyers who customize products online visit websites 67 percent more often, spend 15 percent longer on sites, buy 22 percent more frequently, and pay 25-40 percent more for products.
Meanwhile, companies like crowd-funded fashion leader Betabrand are reinventing the very notion of personalization by involving customers in the decision-making process itself. In this session, attendees will hear from Betabrand and leading customization agency Fluid about the latest in personalization trends. Key points will include:
How to determine the level of personalization and customization to offer customers
Internal decisions required to ensure the best possible customer experience
Real-world business results around custom product rollouts