Essay on Customer behaviour

Customer behaviour keeps changing from time to time. There are many things which influence the behaviour of the customers such as new technology, the latest trends, the standard of living, income level etc. It has become highly important for businesses to understand the needs of the customers and then provide them with the best customer services. The research has shown that many customers today not only want to purchase the product they also want to get the experience. In order to fulfil this need, many technological solutions have immerged, which are allowing customers to get the best shopping experience.

The new approaches, such as Augmented reality & 3D product configuration, has already revolutionized the online shopping experience. In the past online shopping was considered risky by many customers. Many customers believe that the products which they see on the online shopping website might not look exactly the same. Furthermore, there were no options for the customers regarding customization or personalization of the products. The customers would have to purchase the products which were available on the website. But the technology of 3d product configuration has changed this scenario. Today not customers can customize their product but also have the opportunity to get a 3D experience of their product (Sentance).

There are many opportunities for marketers who are serving the luxury business. The luxury brands want to provide not only the high-quality product but also the best shopping experience. With 3D configurator, they can allow their customer to get a 3D image of their product. Through this, the customer can see the product from all directions, which were not possible in the past. With this technology, the customers can know about the product more efficiently, which also increases the trust and confidence of the customer regarding the product.

It can be said that the sales of the products can be enhanced with the help of the 3D configuration of the product. Customers purchase the product when they are sure about the product and have no doubt regarding its usefulness and appearance. With 3D configuration and AR (augmented reality), the customers can convert the products into different components to get a clear idea about the product. Many organization or large enterprises can take advantage of this approach. For instance, large enterprises can use 3D configurator on their website to provide a better online shopping experience. In other words, this technology has improved customer engagement up to a lot of extents (Sentance).

The competition in the retail industry is very high, and many luxury businesses are competing with each other so they can increase their market share. It means that in order to sustain for a long period, the businesses will have to differentiate itself from the rest of the businesses. The approaches like 3D configuration and augmented reality can help the businesses to distinguish themselves in the market. With this, businesses can surely increase their market share. The higher will be the market share; the more will be the amount of profit they generate.

There is a huge opportunity for the eCommerce industry to utilize this technology for enhancing the online shopping experience. Not only the customers will able to see the products in 3D, but also they will be able to customize the product according to their own preferences. Customization/personalization has become highly important in the online industry. Today customers do not like the approach in which businesses offer the products to them. Customers prefer those online websites were the businesses ask customers regarding their preferences and provide them with the product according to their desire. This new way of selling product enhances customer loyalty and profitability (Sentance).

In today’s environment, only promoting the products and services is not enough because, in this way, the interaction of the customer with the product/services remains low. The traditional marketing approach does not allow businesses to enhance customer engagement. With 3D configuration & AR, the customers understanding regarding the product increases due to which making decision regarding the product becomes easy. Due to high customer engagement, the sales of the businesses increases, which is one of the main aims of every business. Without an increase in sales, businesses cannot experience growth. In short 3D configurator can help the business to achieve its goal of a huge amount of sales.

Baume is a brand of the Richemont Group. Baume has implemented 3D configurator through which the customers can create their own watch. This feature has allowed Baume to meet the needs of various customers who want to design their watch according to their own style. It means that Baume has begun attracting those customers who are looking for something unique. This fully personalized or customized service of Baume has opened new opportunities to serve their customer more efficiently. Baume is also providing the AR facility to its customers. Now the customer can connect their phones with a wristband to see the watch directly on their wrist (Sentance).

Through the success of Baume, it is evident that 3D configurator has the potential to boost sales and improve customer engagement. It is true that technology is getting advanced day by day and upgrading with the latest technology is important for sustaining in the long run. The business cannot survive if it does not change with the passage of time. Businesses become successful when they realize the preferences and needs of the customers. The customers are the one who purchases the product and makes the business a success. So the needs of the customers must be given utmost priority.

The 3D configurator can make the luxury brands more successful, and their target of generating a huge amount of revenue can be easily fulfilled. From luxury brands, customers expect that they will get the best shopping experience along with good quality products. Luxury brands keep on thinking about the new ways through which they can enhance the customer experience. So 3D configurator is a way by which they can allow their customer to customize the product according to their needs. Through customization, the luxury brand can charge a premium price as well because they will be providing the product which is totally made according to the customer’s requirements.

With enhancing the customer experience, it is evident that the businesses that can charge high prices because not only they are providing best customer services but also they are providing the services of customization. Due to customization, the cost of the business might increase, but it can be covered with a premium price. Moreover, the customer loyalty and goodwill of the business will also increase when it implements the technology of AR and 3D configuration. In future, such technologies will provide benefit to the customers in various ways.

Customers should be the utmost priority of the business. It is true that implementing new technologies are costly, and sometimes the business has to make some changes for implementing the change, but such changes are worth it. Such initiatives that boost the profit, performance and efficiency of the business should be implemented. It can be seen that with 3D configurator business can boost their sales and profits and can create customer loyalty. The businesses, before implementing such technologies, should perform cost and benefit analysis to know how much benefit they are going to earn from the technology. if the benefit is higher than cost than such technologies must be implemented to make the business a success.

Reference of Customer behaviour

Sentance, Rebecca. Three trends shaping the future of customer engagement in marketing. 2018. <https://econsultancy.com/three-trends-shaping-the-future-of-customer-engagement-in-marketing/>.