In an era where brand loyalty is scarce and demands are at an all time high, there’s no wonder why customization has become a hot commodity on the market. Whilst tailored suits and avant garde bespoke fashion was once habitual to only the elite, consumer culture has taken a turn and brands are now giving customers the power to create their very own street-couture.
Our media consumption habits seem to differ tremendously in the modern age where the internet consumes over 30 hours of our time on average each week. We have grown accustomed to immediate gratification in a world where our affliction with time has become more precious than ever. From the mobile apps we use to order our cabs to our most delectable take outs, we share an insatiable appetite for instantaneous fulfilment.
The desire for exclusivity thrives among Generation-Z teens; in both product and experience. With consistently ever-changing trends in fashion and the added importance of social media in our daily lives, internet culture stands at the forefront of power and influence for the future leaders of our modern generation. Subculture is dead and the youth who feel politically disenfranchised are instead choosing to align with cult brands who not only share their values, but live and breathe them too. Brands such as Hood by Air, Supreme, Palace, Gosha Rubchiniskiy and Vetements champion this sentiment.
IBM’s General Manager, Steve Laughlin explains: “Generation Z expects technology to be intuitive, relevant and engaging — their last great experience is their new expectation. This presents a significant challenge for retailers and brands to create a personalised, interactive experience with the latest digital advances or risk falling behind.”
With exclusivity on the rise, limited batches of product builds tremendous brand value and eases the in-efficiencies of mass production which is resolved via co-creation. Consumer demand and retail suppliers can align in a way like never before by working with consumers to learn about what they desire most and fulfill the demand, as opposed to predicting what consumers may demand and producing that in high volumes which may never actually have the potential to sell.