Over the past few decades, the world has thrived on mass production. However, changing consumer behaviors and generational mindsets are creating a shift away from the production methods of the recent past.
Millennials and Gen Z have surpassed Baby Boomers and Gen X in terms of purchasing power. These generations prioritize sustainable production habits and prefer something more personal from companies they deem worthy of their money . As such, mass customization is the answer.
Here are five benefits of mass customization that can make your business more competitive.
Mass production versus mass customization
Before exploring the benefits of mass customization , it is important to understand the difference between this concept and mass production.
With mass production , telegram data the goal is to make as many identical products as efficiently as possible. The primary goal is quantity. Everyone who buys mass-produced products gets the same thing, with little customization beyond generic sizing or variations on preset specifications.
Mass customization still emphasizes quantity and efficiency, but offers more variation and personalization to consumers. The core product offering remains unchanged, building strong relationships but there is room for differentiation.
Consider the difference between buying a pack of ice cream treats and visiting your local ice cream stand. When you buy a box of ice cream treats, you are choosing a pre-packaged composition of flavors that has been pre-packaged and prepared for mass consumption.
When you go to the ice cream stand, there may only be six flavors to choose from, but you can change the combinations and determine how many scoops you have to create a more personalized product to your tastes.
Now that you have a better idea of what mass customization is , here are five benefits that can make your business more competitive .
Become more profitable with mass customization
The ultimate goal for any business is to become more profitable without sacrificing the integrity of the offering. With mass customization, your business can do just that; you can charge more for mass customization while keeping production costs relatively the same.
For example, your 3D printed jewelry company could have a variety of Ponoko Ideas to choose from, china numbers offering the same basic products. You could offer customers the option to choose their own birthstone or have their name engraved into the piece. The basic design remains the same with only a few small changes during the latter part of the manufacturing process.
The company will also become more profitable due to improved customer loyalty and repeat sales.
Collect more customer data
Another benefit of mass customization is the option to acquire more customer data. Data is everything in modern business and can shape your future offerings to improve your bottom line over time.
Nike has become an industry leader in introducing mass customization. When a customer orders a pair of shoes, the core design remains the same. However, they have the option to pay a premium to add custom writing or images to the shoe.
When customers enter this information, they share more data about their tastes and preferences, allowing Nike to create more personalized offers in the future. The more personal the offers, the more likely the customer is to take advantage of them.
