16 Sep 2019
Posted in Consumer
36% Indian consumers wish to buy tailored products and services, says GlobalData
Driven by the concept of ‘one size does not fit all’, 36% of Indian consumers are seeking products and services that are specially tailored to their own needs, preferences and consumption decisions, finds GlobalData, a leading data and analytics company.
According to GlobalData’s 2018 Q4 Consumer Survey, consumers, particularly younger demographics, are highly receptive to these concepts, with 67% of 16 to 24 years old claiming customization to be a major factor in influencing their end purchase.
Shagun Sachdeva, Consumer Insights Analyst at GlobalData, says: “The shoppers are looking beyond mass-produced products towards tailored products to be in control of almost every aspect of their life, including their consumption.”
With customization permeating all corners of the market, brands are looking to resonate with younger consumers and create brand loyalty by offering them unique, idiocentric products and services.
Sachdeva concludes: “Customization has become an expectation among consumers rather than a ‘good to have’ norm. Tapping into customization trend, companies are answering the call for customization in new and exciting ways. However, they need to protect the ‘exclusivity’ of the customization concept, avoid drawbacks such as falling into mass production and accessibility.”