6 September 2005
Consumers are savvier and more aware than ever before and want to be treated as individuals and as someone special, a Monash University researcher has found.
International Study Programs director and marketing lecturer Mr Michael Morrison said international study tours have confirmed the emerging trend of the 'segment of one'.
Mr Morrison said people wanted the shopping experience to become more individualised.
"The best example of this is the iPod -- there are more than 15 million of them around the world, but they're all different (in content)," he said.
"Another example is LEGO, which can now be bought by weight -- like lollies. This means people can pick and choose what they want, rather than being bound by what's in the box.
"People want to have more involvement in the shopping experience and want to feel like there is a special product out there just for them."
Mr Morrison said while customers had been presented with choice in the past few years, they now wanted to be able to customise their purchases.
"People are researching on the internet before they go shopping, so they're more aware of what they're purchasing and know exactly what they want before they even get there," he said.
The US appeared to be leading the trend, but Mr Morrison said it was also happening in Australia, in chain stores like Starbucks and Boost Juice, where each beverage could be tailor-made.
"Build-a-Bear has also arrived in Sydney, where you can customise your very own teddy bear," he said.
"It fits in with the experiential retail trend, where people are not just looking to buy goods and services, they want to purchase an experience, and these experiences need to become more special and more personal."
For further information contact Mr Morrison on +61 3 9903 1592 or Ms Natasha Whalley, Media Communications on +61 3 9905 9201 or 0437 458 457.
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