This Christmas season, many buyers are in search of gifts that are unique and personalized. According to a report by Deloitte Consumer Review, more than 50% of consumers expressed interest in purchasing customized products for themselves and their loved ones. Retailers who take part in product personalization trends have the opportunity to increase product sales and build repeat business!
With the rise of internet retail giants and instant gratification, the modern consumer is used to having on-demand access to custom products and services. Consumers now expect to maintain a certain level of control over the products they purchase. Retail trends for 2019 predict that this product personalization trend will continue to grow into the future.
Personalized products are most sought-after for gifts. Consumers want their gifts to be special for their loved ones and a personalized product indicates that they put time, money, and thought into the gift purchase. The number of holidays that highlight gift-giving has increased too: Christmas, birthdays, anniversaries, Valentine’s Day, Easter, and more!
Experts believe the personalized gift market will reach an estimated $31 billion by 2021. As a result of this increased demand, retailers must consider how to sell personalized products, both online and at brick-and-mortar locations.
Not sure if selling customized products is right for your business? Think again! Despite the rise of big-box competition, small retailers provide the intimate and custom experience that consumers seeking personalized products desire. Buying "locally" is a rising 2019 retail trend, having gained popularity among younger generations within the last few years.
Even if your small business is strictly a brick-and-mortar location, you can successfully sell personalized products. Despite the increase in online retailers, a high percentage of consumers still prefer buying personalized products from physical locations. Seeing the product firsthand will help these consumers decide to make a purchase.
Worried about investing in the technology and equipment needed to make personalized products a reality? Look to your suppliers! You might be surprised to discover a range of new custom products to offer or even a way to spruce up some of your best-sellers.
By tapping into your existing resources, you can start small by offering a few items with personalization options to get a sense of demand and interest. If you receive little interest, you can quietly discontinue personalization with low risk. If you receive a large response, you can invest in more personalized products and increase your revenue.
Personalized products will likely carry retailers into 2019 and beyond. With increased access to custom goods, you can bet that customers are looking for more than a standard piece of jewelry during this holiday season.
McVan offers customized products for a variety of important life events and religious celebrations to meet your customers’ demand for personalization. Whether they want to include the date of a baptism, confirmation, wedding, or just a personalized message, we can help!
Here’s a look at the types of products we can personalize:
To learn more about how we can help you sell unique and memorable religious gifts, check out our Engravable Medals page or give us a call at (800) 322-8781!