Today's consumers no longer buy a product or service, but an experience. This is even more true in the luxury sector, where 40% of consumers want more personalization.
57.2% of worldwide millennials interviewed replied “Yes, definitely!” to the question “Would you be willing to pay more for a high-end fashion or luxury item that was personalised to you?”, while another 35.2% answered “Maybe”.
Their top 4 reasons to do so were: to design something just for fun, to feel pride in creating and designing, to demonstrate creativity and to stand out from other people.
To ensure that they understand precisely consumer demands and provide a upgraded customer experience, brands are now committed to design thinking, where it requires rethinking the innovation process so that it is based on co-creation and the involvement of end users.
Taking into consideration the perspective of end users' experience, brands are able to design products or services in this way that generally delivers excellent performance while improving the brand image, as well as loyalty and acquisition rates.
