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Custom products: Give the people what they want
This article “Custom products: Give the people what they want,” written by Eleanor Beaton is about a new miracle performed by the progressive firms across the business spectrum called mass personalization. After decades of mass productions and forcing customers to buy products that don’t exactly fit their needs, mass personalization is now here to allow client to tailor their own products to their personal needs with out paying “custom prices.” There are many factoring driving mass personalization, including the internet, which provides consumers with easy access to customization tools, technological advances which allows business to make custom goods easier and at cheaper prices, and the increase of user-generated content coupled with proliferation of on-demand which tells customers to expect personalization. A professor at RWTH Aachen University in Germany Frank Piller says that customization was started in the 1990s but it was the flexible and digital technology that gave the more significant takeoff today. Examples of mass personalization companies include PNI Digital Media Inc., which has seen over 70% year over year growth in personalized products such as calendars, coffee mugs and more over the past couple of years. Also Indochino, a man suit company, which started in 2007 who claim to be the world’s largest online retailer for custom suits in the world, has grown to over 50 employees. Robyn water says that mass personalization is still underused in the services industries. She points out that “Banking and financial planning are still dominated by generalized investment products rather than personalized tools that help people realize their dreams.” Last Eleanor states that you don’t want to overwhelm customers with to many choices with mass personalization.
No two people are exactly alike, just like how no snowflake is exactly alike which is why this article “Custom products: Give the people what they want,” written by Eleanor Beaton took the words right out of my mouth. I agree 100% that mass productions is coming to the end of its days and needs to get out the way for mass personalization. People will no longer settle for something just because it closely resembles what they want, they now want exactly what they desire. And because the “custom-made” price is gone it will soon be a simply choice for customers, either buy something you that you dream about, or something that is uses the “one size fits all,” motto. I think that it is very smart for companies like BMW, apple, Indochino, PNI Digital Media Inc, to join the mass personalization market in such an early stage for its life and will all become a greater success in the near future. I think most retail stores that offer the “one size fits all,” motto such as clothing, shoes, electronics, auto mobile, toys and other will start now or in the near future going bankrupted unless they also start to customization their products.
As a consumer myself I think mass personalization is a great idea, and will benefits not only me but every other consumer out their a lot. And as an entrepreneur I think this is a great time to start a small business on customizing small products instead of high-end goods because everyone is going that way, or services because mass personalization means many new openings in the market at the moment. Personalization should be put especially into the service industry because we rarely, if ever, see people being able to customer their services. So to all the eager entrepreneurs out there, here’s your chance, now go for it!
Custom products: Give the people what they want | poweredByProfit | Canadian Business Online