How Personalization can re-define the fashion industry?
A trending dress today can go out of fashion the very next day as the fashion industry is always in the evolution phase. A retailer has to cope up with the speed and in order to be irreplaceable in the industry he/she must always be innovative/different and offer the best to the customers according to their needs. This is because customer satisfaction is the most important milestone for a retailer, which can be easily achieved by personalization.
What is personalisation?
Personalisation means tailoring a customer’s requirements according to their needs effectively and efficiently by making personal interactions with them, which thereby increases customer satisfaction along with their visits. It also helps to create a relevant experience for the customers and a chance that offers to fill the entire wardrobe with clothes according to their style preferences. Through personalisation, a customer will be able to see what they want on the basis of their previous searches and no additional setting will be required.
Let’s consider this example for more understanding. Imagine a customer walking into an offline/physical store in search of a dress, the sales associate of the store will ask a few questions, narrow the search and point out the right dress. In the case of an online store, there is no sale associate involved and leaving a customer alone to sort items/products is not a good option. If there is only a single service or single product there won’t be any issue. But if more services or products are present, then it will turn a complex journey for the customer. To ease this journey, personalization can be a helping hand and the fashion conscious clients will get the right thing at the right time.
Through personalization, the retailer gets a chance to come closer to customers and understand their requirements carefully. Apart from these, retailers can tap into their purchase history and target recommendations accordingly. It can be used to create an experience which makes the customer feel like he/she is on top most priority and their needs are met in the same way as they could be in an offline store. Over 70% of retailers are personalizing the online shopping experience.
What personalization includes?
Personalization includes showing of saved items in the cart or recommendations based on the previous views. However, this is very common, it is necessary to adopt new trends/methods such as changing the layout of a page or changing content like the marketing message or sale banner or changing the homepage based on customer’s interest. This can provide a lot of opportunities for retailers to expand their business. According to Deloitte Consumer Review, about 50% of online shoppers expressed interest in purchasing customized products or services.
What are the benefits of Personalization?
- Up-sell/Increased sell: A recent study revealed that customer spends more than they initially intended if they receive personalized recommendations.
- Increased revenue: Many times, due to personalized services, customers do buy expensive items than they planned as it purely designed for them.
- Less purchase returns: Based on the previous searches customers are recommended the items so this reduces the chances of purchase returns
- Increased Loyalty: If everything is according to your requirements then there is no need to go anywhere else. Research shows that 79% of consumers consider that brands which show care about them.
Thus, an effective, personalized marketing strategy is important to drive conversions, boost engagement and improve customer loyalty. If the strategy is not tailored properly, consumers won’t feel engaged and are less likely to purchase from your website. Thus, the most important asset for boosting the business is personalized recommendations. In search of a good marketing strategy for growth of your business, look no further and contact CanisHub. We are happy to help you and build strategies that can benefit your company.