Megatrends: Personalisation

March 2023

As more consumers demand products and services to meet their specific needs, companies are racing to build bespoke offerings rather than risk being left behind. As technology advances, industries are rushing headlong into the new market for personalisation, in some cases without understanding the motivations of the clients they are trying to satisfy. Euromonitor International’s megatrends series will examine “Personalisation Seekers” to determine where this concept is heading and who will drive

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Key Findings

Personalised goods and services generating momentum from demand- and supply-side factors

Interest in personalised products continues to surge, driven by improvements in technologies that give consumers more and better information to use to inform their purchasing. This has, in turn, allowed for a larger cohort of consumers who reflexively demand more tailored solutions.

A growing group of Personalisation Seekers drive interest in the concept

Personalisation Seekers, representing around half of global consumers, are an increasingly dominant group, as they contain a high percentage of younger, higher income and tech-savvy consumers. Together, these consumers report high willingness to support more customised approaches, even at higher price points.

Considerable opportunities remain to deepen consumer interest in the concept in the coming years

Personalisation is still niche even in the industries where substantial investments have already been made. As the competitive space has not been defined completely yet, companies have the space to experiment with approaches and build varied opportunities for growth.

Beauty and personal care, and apparel and footwear lead the way in commercialising personalisation

Personalised beauty and apparel have generated considerable consumer interest through bespoke options that incorporate tech-forward platforms and experiences like virtual reality try-ons and consultations, novel manufacturing methods like 3D printing, and investments in AI to match consumer and product.

Ethical and sustainability considerations to deepen as a component of personalisation

According to an examination of Personalisation Seekers, these consumers overwhelmingly demand that the products and services they support meet their ethical and sustainability considerations, opening an additional pathway for future bespoke offerings.

Megatrends: A framework for the future?
Leaders harness megatrends to disrupt a market
Key findings
The rise of personalisation
Pillars of personalisation
Opportunities and challenges
Personalisation: What to focus on
Half of global consumers demand products and services uniquely tailored to them
Personalisation Seekers: The basics
Personalisation Seekers: Home life
Personalisation Seekers: Income
Personalisation Seekers and their relationship with consumer goods
The pace of development of personalisation across consumer goods and services
Beauty and personal care: Personalisation Seekers driving engagement online
Case study: The Skin Pharmacy drives customisation in Singapore’s dynamic skin care space
Case study: Custom.Me offers AI-driven solutions for skin care conditions in South Korea
Apparel and footwear: Personalisation Seekers pushing product innovation
Case study: Zalando uses curated recommendations to build efficiency and cut waste
Case study: Uniqlo Malaysia introduces the StyleHint app to encourage social empowerment
Consumer health: Personalisation Seekers strong users of vitamins and dietary supplements
Case study: Neutrogena’s partnership with Nourished opens lane for beauty supplements
Case study: LemonBox leverages social media to broaden the target of personalised products
Consumer health: Personalisation Seekers pushing for tailored solutions in sports nutrition
Case study: Gainful attracts attention as early entrant in US personalised sports nutrition
Travel: Personalisation Seekers most willing to spend on experiences
Travel: Ample opportunities to attract Personalisation Seekers via travel destination features
Case study: TUI’s tours platform offers streamlined process to build bespoke holidays
Home care: Personalisation Seekers looking for quality, sustainable and ethical commitments
Case study: Haier and Nuncas to launch Washpass in Italy
Foods: Still nascent personalisation marketplace but considerable opportunities to engage
Case study: MyAir develops personalised approach to address rising rates of stress
Case study: Cana One’s “molecular beverage printer” redefines personalisation in beverages
Retail: The drive for experiences drives Personalisation Seekers’ shopping demands
Case study: Levi’s premium concept store enhances and customises the retail experience
Demand-side influences will support the rise of personalisation in the coming years
Key takeaways
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