Personalised offerings are a crucial strategy for luxury brands looking to differentiate themselves in an increasingly competitive market.
The post Luxury Brands Leverage Personalised Offerings For Product Differentiation appeared first on LUXUO.

In the world of luxury and commerce, is there truly anything “new”" Is it an invention consumers have not yet seen or is it simply a new design on an already-existing item" There is an old colloquial Thai phrase that goes “same same but different” referencing two things that are fundamentally the same with the slightest nuanced differences. This can be applied to the luxury sector ? due to a lack of diverse product offerings, luxury brands focus on personalisation and unique, one-of-a-kind pieces to satisfy shoppers’ increasing demands for exclusivity.
However, luxury brands profit from the commercialisation of their signature products. To strike a balance between retail profits and client expectations, brands have begun to introduce personalised offerings. While commercial pieces do not always contribute to brand building and legacy, they play an important role in sustaining revenue. Rare offerings can yield high margins, but they also require greater manpower.

This trend is evident across various industries, such as gadgets, with Apple’s customisation of iPhones featuring consumers’ initials; in the alcohol sector, through the release of rare casks and limited editio...