Boosting profits through product customization: A new trend in Business.

April 13, 2024, by Tom Jawado

With a diverse range of businesses in operation. There are a lot of things to look at when one wants to boost profits. But recently, one in particular “product customization” has proved to be the best. Product customization is the act of modifying a product to suit the customer’s preferences. While this sounds like a hard task for some other businesses, product customization simply starts by asking your customers to choose what they really want, be it a certain kind of color, style, or different designs of the sold product

For instance, big companies like Coca-Cola, Amazon, and Spotify just to mention a few already embarked on this trend. With a realization that they would only prosper if customers get what they exactly want. According to Amazon, 30% of its revenue is generated through its product customization. As such so many countries in Africa have started doing the same.

Customized products are essential because they allow customers to feel like they are part of the product development process. Understanding customers’ preferences in your businesses can create products that are more likely to sell. For newly built businesses in Africa, customization is a true profit booster because incorporating customer service into your business creates customer loyalty hence having a business brand that is competent and successful

Product customization has proved to be a standard and viable method for all sorts of businesses. It is for this reason that every business small, big, new, or old must follow. There is no exact period on when exactly to start product customization but as far as the market is there, you are guaranteed to embark on it. However, it should be noted that if one decides to customize a product, the following should be considered:

  • The cost of the customized product
  • The market competition of the product
  • Nature of customized product

Briefly, product customization should be done in view of customers’ needs and preferences because failure to do so is as simple as having any other products on the market with stagnant sales.

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