Personalized Products Enable Responsive Product Development Inclusive of Consumer-Driven Design Through Personalization

Maximize value and your competitiveness through seasonless product lines, personalized products, and transparent supply chains

According to McKinsey and Company, product personalization allows retailers to apply a price premium to their product offerings, with consumers willing to pay about 20% more for customized products versus standard ones.

There is definitely value in letting customers create their own unique products and retailers are responding to this. Product personalization can help retailers:

  • Elevate customer loyalty and improve consumer engagement
  • Reduce acquisition costs by as much as 50 percent, lift revenues by 5 to 15 percent, and increase the efficiency of marketing spend by 10 to 30 percent

By enabling responsive product development inclusive of consumer-driven design through personalization, retailers can increase sales revenue and better position themselves amongst their competitors. PTC FlexPLM’s Product Configurator App makes personalization easy. The configuration capabilities provide retailers with the tools to plan, design, and source customizable product features and their options.

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