Buyer's
Forum
Personalizing Profit
Marcy Bruch
If you've been watching trends in retailing, you can't possibly miss the preponderance of personalized product that's hit the market recently. Whether it's monogrammed hooded sweatshirts, customized jeans, or initialed handbags and jewelry, it seems as though consumers crave products with a personal touch.
Seeking to capitalize on this hook to jump-start business, savvy department stores have even created personalization areas and boutiques. At the mass level, chains like Wal-Mart feature kiosks with stick-on initial appliqués, monogram crystal tattoos, and other do-it-yourself items to customize otherwise basic merchandise. Toward the higher-end of the retail spectrum, Henri Bendel has set up areas where customers can get involved in the creation of an accessory--picking out the shapes, materials, and colors--from start to finish. There's even a Website, www.personalizedstore.com, to order any sort of personalized gifts for weddings and babies and even pets.
According to Martin Lehec of the trend watch company Carlin International, this personalization movement is the result of people demanding apparel and accessories that aren't cookie-cutter copies worn by everyone. More of us want to buy something that expresses our individuality and reinforces the belief that we are truly unique. It is this mindset that is also driving sales of obscure brands of sunwear and frame styles that are deliberately offered for only one season.
Sunglass specialty stores like Solstice report that even in the moderate price range, lesser-known brand names from Europe are selling extremely well because the limited distribution instantly raises the level of exclusivity. Well-known brand names are also benefiting by offering limited-edition frame series, thus increasing the likelihood for pent-up demand.
While high-end dispensaries already know the importance of offering exclusive collections and customized eyewear, the demand for personalized product provides an opportunity for them to take customization to the next level. Monograms at temples and etched initials at the corner of lenses are but a few ways to fulfill the consumer's desire for a personal touch. Who knows? With this trend showing no signs of slowing, the personalization of eyewear could provide you with a pathway to greater profit.