Made-to-order: The rise of mass personalisation
The Deloitte Consumer Review
Mass personalisation is finally becoming a reality. Deloitte research shows that:
- In some categories more than 50% of consumers expressed interest in purchasing customised products or services
- The over 55s are more likely to book a personalised holiday than millennials
- 1 in 4 consumers are willing to pay more to receive a personalised product or service
- 22% of consumers are happy to share some data in return for a more personalised customer product or service.
Delivering personalised products and experiences can provide benefits for both the business and the consumer. Businesses have the opportunity to demonstrate the value consumers can get from their personal data being used, while also gaining deeper insight into consumer behaviour. At the same time, it makes it easier for consumers to understand the offer while getting better value for money.
Offering personalisation might require a rethink of business operations but businesses that embrace personalisation have an opportunity to create a differentiated proposition that may command a price premium, and improve consumer traffic and conversion.
For previous editions of the Deloitte Consumer Review, please click on the links below:
Digital Predictions 2015
We look at how five technology trends are set to disrupt the consumer market. In doing this, we draw upon our 14th TMT Predictions report and consider the implications for the consumer.
Africa: A 21st century view
We discuss the importance of developing a 21st century view of the African consumer market and make the case for consumer businesses to seize this opportunity.
The growing power of consumers
We explore the emergence of an expectations gap between the more informed, connected and demanding consumer and businesses’ ability to meet these heightened expectations.
Reinventing the role of the high street
We look at the future of the UK high street. Many have declared the 'end of the high street' but we believe it will continue to be an important place where innovative, consumer –focused businesses will grow and thrive.