Toy and gaming trends are showing that we want more personalized products.
Plush Toys Get Personal: The toy industry is following a global trend towards personalisation of items including plush to push demand for custom-made products including toys with GPS trackers
Cartoon and movies characters continue to play a key role in pushing demand for stuffed and plush toys. In 2020, blockbusters are expected to be released (Wonder Woman, Minions and Mulan) So we can expect to see more movie-themed plush toys flooding the market.
Hasbro is lined up to create Ghostbuster toys alongside the release of the movie. Hasbro is the largest toy maker in the world in terms of stock market value, and third largest with revenues of approximately $5.12 billion
What is the attraction about personalized items?
Plush toys get personal in many companies who have realized the benefits of personalizing a product. Online product customization raises brand awareness, increases engagement, helps companies identify emerging trends, and adds a source of revenue to their online business. This trend is so strong marketing strategist are creating new business models to incorporate the elements of personalizing products and manufactured goods as a value add.
The process of customizing products online, has even been made into app such as LongChamp’s Le Pliage Bag customization options, or by adding a new business avenue for the brand like NikeiD and Brooks Brother’s Made to Measure program
An extensive study carried out by Bain & Co. on product customization brought attention to the growing consumer interest in online customized options. According to that study conducted on more than 1,000 online shoppers, over 25-30% of the shoppers were interested in online customization options, even if only 10% have tried it at the time. The financial effect means that if 25% of online sales of footwear were customized, that would equate to a market of $2 billion per year.
If you offer customized products or plan to do so, understanding the psychological processes that affect user behavior can assist in offering an engaging customer experience that yields business growth.
From Passive Buyer to Active Partner
Mass customization has become increasingly significant for brand name companies as part of a broader trend that views customers as value co-creators and not just recipients of value. Rather than being a passive consumer, the customer is now becoming a contributor in the product development process.
From a psychological standpoint, the user experience of customizing a product is mediated by a number of unconscious factors that shape the customers’ final decision, even without their awareness. Moreover, the interaction involved in creating the product can lead the customer to buy it – even if they weren’t initially planning on doing so.
Offering the option of plush toys getting personal customizing products triggers two main psychological processes, which lead to increased user engagement and higher conversions:
However new research provides further evidence that marketers are missing the mark when it comes to personalisation. According to Epsilon’s report, there is often a disconnect between marketers and the consumers they are trying to reach, centering around a misunderstanding of what they really want from personalisation.
In a survey of consumers, the company found that 32% want brands to customize their offerings to suit them and their specific needs, while another 32% thought that knowledge of their likes and dislikes was the most important part of successful personalisation.
Brands, however, tend not to be focusing on this kind of personalized experience. Instead, 31% of those surveyed are putting most of their eggs into the discounts and rewards programmes basket. 22% are putting simple recommendations at the heart of their personalisation strategy.
When it came to customization and service, these were prioritized by 16% and 8% of brands respondents respectively.
Insight and action
“The main route for brands to genuinely comprehend their clients’ purchasing inspirations and what their shoppers need is to get to understanding on both past and ongoing buyer activities and choices through a genuine single client see. In any case, they likewise should have the option to follow up on this understanding, making genuine balanced discussions, bit by bit developing them after some time and over the entirety of their gadgets.”
There are many advantages to creating personalized items including toys and games. Producers can;
- Charge more
- Build customer loyalty
- Make a product more engaging
- Win over ages – Millennials make up a colossal bit of the purchasing open, and with them transitioning as of late, they will be customers of products and enterprises for a long time to come.
- Can sell online
As brands keep on pushing the limits of exactly how customized their items can be, buyers keep on looking for their ideal item. It’s an obvious fact that the most recent retail pattern to hit the magnificence business is customization and personalisation. This permits purchasers to impart their people need to a brand and consequently getting an item customized to them. In addition to the fact that this benefits the buyer by offering an item particular for their requirements, however it additionally permits brands to manufacture knowledge driven shopper profiles of individual clients.
Everybody has their own expectations to satisfy their individual needs. It may take a lot of experimentation to locate that ideal item. For this reason the improvement of customized items will be beneficial. Having the option to feature your individual objectives, guarantees you are accepting an item that meets your needs.
The only problem is when a customer isn’t aware of their needs and can not provide instruction to personalize. In this case the process may become expensive for the supplier. As the personalisation pattern has developed, brands are continually hoping to push the limits of exactly how customized their items can be. We can be certain that the limits will keep on being pushed, to make completely customized and altered items.
Plush Toys Get Personal
The great quest of promotional marketing is to find a product which says what it should about the quality and accessibility of your brand while creating an emotional attachment between consumers and your organisation. On this basis you will find few better promotional ideas than custom made soft toys. Value for money wise custom plush toys tick all the boxes. While there is a great range of soft toys available off-the-shelf which can be simply over printed or embroidered with your marketing message, having something made which is yours and yours alone will direct more attention to your company offerings.
All things considered, who doesn’t need items made only for them?