Today, thanks to the fantastic and usually surprising DecodedFashion, I’m getting yet another confirmation that what we started almost 2 years ago as ELSE Corp to work on E.L.S.E. (Exclusive Luxury Shopping Experience), and now we prefer calling it A LUXURY 3.0 FRAMEWORK, was really, REALLY an intelligent idea! 😉
Luxury Product Customization Boom
Acknowledging the booming millennial appetite for personalisation, shrewd luxury retailers are investing in new modes of customization, both on and offline.
Last year, 45% of shoppers spent money on personalizing a product or experience ( Forrester, 2015). Bolstering that appetite, technological advances are making customization increasingly affordable – presenting a massive opportunity for brands to engage with the 25% of consumers willing to pay a premium price (+20%), or the 45% who are happy to wait longer to get their personalized products ( Deloitte, 2015).
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