Personalization refers to modifying the customer’s requirements as per their needs by personally interacting with them. Personalization in the fashion industry increases customer satisfaction and their chance of revisiting. With personalization, customers can fill their wardrobes with a collection of their style preferences.  

Personalization is multi-disciplined as it can be applied to customer experience, customer service, product offerings, e-mail marketing, product features, push notifications, and likewise. Earlier, it was all product-centric and not customer-centric. Brands created garments that would make it a better product and focusing less on the customer requirements. Over the last decade, things have changed and everyone in the industry is more customer-centric these days. 

For better understanding, let’s consider a scenario. In case the customer visits a physical store to buy a dress, the sales associate at the place will ask for their requirement and point out the right dress. In the case of an online store, consumers will have the power to choose what they need. They can order custom fit, custom designs rather than choosing from the available designs and fittings. As per the reports from McKinsey, personalization will be the main trigger for success in the retail industry in the next 5 years.  

Evolution of Personalization in the Fashion Industry 

Earlier, mass production was the most successful strategy in the fashion industry. After a period of time revolution happened from “made to measure” to “ready to wear”. Hence, it resulted in the elimination of the individual approach in cloth production. The reason behind the adoption of this strategy was buyers were welcoming price reductions and accepted standardized products. With technological advancements, personalization has become one of the most relevant and in-demand trends in modern retail.  

Personalization in the fashion industry can influence revenue greatly. There is a possibility that there will be an increase of 110% in further purchases. Also, there is a possibility that 40% of the buyers will spend more than what they planned. The way fashion companies operate is also flourishing as per the shopper’s choice. Fashion brands have become keener about their customer’s choices and objections.  

Fashion Retailers Implementing Personalization 

According to SmartHQ, 80% of frequent shoppers only shop with brands that personalize the experience. Although it is quite challenging to implement personalization in the fashion industry, it is worth it. Let’s have a look at various fashion retailers that are using personalization:  

Thread 

Thread focuses on personalizing its customer visiting journey. Customers who visit the platform need to enter gender, favorite brands, preferred looks from a range of images, sizes, date of birth, and more. Doing so creates a portfolio of shopper’s preferences to display products that are more relevant. Hence, customers are more likely to shop among their personalized choices.  

ASOS 

ASOS focuses on personalizing the right fittings. When the customers visit the product page, he/she needs to enter their height, weight, and the brands of their choice. Later, ASOS will recommend the best size for its customer to purchase. Major purchase returns occur due to incorrect fittings. But, ASOS solves this issue and makes it helpful for both customers and retailers. 

Future of Personalization in the Fashion Industry 

Hyper-personalization is the future of the Fashion Industry. Fashion brands can leverage real-time data and Artificial Intelligence to supply more customized and unique products to each of their customers. With personalization in trend, customers will have all the power in their hands and can create their own merchandise.  

McKinsey reports that over the next five years, there will be three major shifts in personalization. Firstly, it will be a shift from physical places to digital places. Augmented Reality and Virtual Reality have made this possible by introducing the virtual try-on technology, where customers can try their personalized recommendations.  

Secondly, empathy will enhance, as the ability to relate to and understand another person’s emotions will improvise. To enhance empathy, fashion brands can incorporate machine learning technology to accurately predict inventory demand thus reducing wastage and unsold inventory costs. 

Thirdly, brands will begin using ecosystems to personalize journeys end-to-end. With the help of Artificial Intelligence, fashion brands and retailers can predict their consumer needs and offer their preferences. 

Conclusion 

With emerging technologies, it is possible for fashion brands to incorporate personalization that will help them increase their sales & ROI. When empathy enhances, sales increases resulting in higher revenue. Brands need to only adjust their process or re-work their process to make it customer-centric where personalization is one of the key components. Personalization will put an end to overproduction and ultimately eliminating apparel landfills. Hence understanding the customer’s needs completely will increase the ROI for both manufacturers and retailers.