Contributed by Dr. Liraz Margalit the Customer Experience Psychologist at ClickTale
E-commerce firms are discovering the value of online product customization and the additional revenue potential that can be generated from it.
Over the last few years, product customization has burgeoned in the online space, as consumers look to buy a plethora of differing mass customized goods from suits to handbags and shoes, from bicycles to personal computers.
A survey of more than 1,000 online shoppers conducted by Bain & Co. found that more than a quarter of shoppers, 25-30 percent, are interested in online customization options, even if only 10 percent have tried it until now. Moody’s estimates U.S. online clothing and shoe sales will top $45 billion by the end of 2014. If 25 percent of those online sales were customized, that would mean over $11 billion in sales per year from online customization.