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Personalization in Retail and Apparel - Thematic Intelligence

Publisher GlobalData
Published Sep 28, 2023
Length 43 Pages
SKU # GBDT18272556

Description

Personalization in Retail and Apparel - Thematic Intelligence


Summary

Although personalization is a theme that has been present in the retail industry for decades, it has become more prevalent and important to consumers in recent years. This increase is tied to the rise of online shopping. A consumer’s shopping experience in a store can easily be made more personal, such as through interactions with store staff, but retailers have had to actively innovate to create personalization in the online space.

Key Highlights

Consumers are also increasingly individualistic, especially Gen Z, and want products that are specifically targeted to their needs and goals. These consumers are often willing to pay a premium for such items. This is another reason for the increased interest in personalized products, although this is not a new phenomenon, such as with tailored clothing.
Personalized products are currently especially prevalent in the health & beauty sector, due to the links to the health & wellness trend, which is also particularly important to young consumers.
Personalization is a clear focus among retailers’ online operations. Amazon has set the bar high in defining how retailers can personalize a shopper’s journey, with others investing to keep up.

Scope
  • GlobalData provides detailed insight into the theme of personalization, specifically focusing on its impact on the Retail and Apparel sectors. The report provides an overview of personalization and its components, the leading companies, the timeline of developments in omnichannel, and related mergers and acquisitions. The report also details the relevant trends across technology, marcoeconomic, and retail trends.
Reasons to Buy
  • Themes are disruptive, so it's easy to be blindsided by industry outsiders who invade your sector. Understanding the themes ecosystem will get you ahead of the curve.
  • Understand the important themes in 2023 and beyond, allowing you to grasp a wider view of changes in consumer behaviour and how it will impact your markets.
  • Explore how emerging themes in retail are allowing industry leaders to evolve, so you can better position yourself for long-term success.
  • An easy-to-use framework for tracking themes across all companies in all sectors.
  • Companies who invest in the right themes become success stories; those who miss the big themes end up as failures.

Table of Contents

43 Pages
Executive Summary
Players
Thematic Briefing
Defining personalization
Instore versus online
Data collection and analysis is key
Trends
Retail trends
Technology trends
Industry Analysis
Apparel
Food & grocery
Electricals
Health & beauty
Home
Use cases
Sainsbury’s teams up with L’Oréal to offer personalized beauty consultations instore
Sephora’s shade finder tool helps consumers get a personalized foundation match
Stitch Fix’s Freestyle feature opens personalized shopping up to more consumers
Timeline
Signals
M&A trends
Company filing trends
Hiring trends
Value Chain
Retail channel
Data processes
Data governance and security
Data storage
Data processing
Data aggregation
Data integration
Contextual data
Outcomes
Personalized recommendations
Personalized customer service and support
Personalized loyalty programs
Personalized marketing
Personalized products
Companies
Public companies
Private companies
Sector Scorecards
Retail sector scorecard
Who’s who
Thematic screen
Valuation screen
Risk screen
Glossary
Further Reading
GlobalData reports
Our Thematic Research Methodology
About GlobalData
Contact Us
List of Tables
Table 1: Retail trends
Table 2: Technology trends
Table 3: M&A trends
Table 4: Public companies
Table 5: Private companies
Table 6: Glossary
Table 7: GlobalData reports
List of Figures
Figure 1: Who are the leading players in the personalization theme, and where do they sit in the value chain?
Figure 2: A personalized beauty consultation using L’Oréal’s ModiFace technology
Figure 3: Sephora’s Shade Finder
Figure 4: Stitch Fix
Figure 5: The personalization story
Figure 6: Personalization mentions have fallen since a peak in 2021
Figure 7: Hiring activity pertaining to personalization accelerated between 2020 and 2022
Figure 8: Retail companies recruiting for jobs related to personalization
Figure 9: The personalization value chain
Figure 10: The personalization value chain - Personalized recommendations
Figure 11: The personalization value chain - Personalized customer service and support
Figure 12: The personalization value chain - Personalized loyalty programs
Figure 13: The personalization value chain - Personalized marketing
Figure 14: The personalization value chain - Personalized products
Figure 15: Who does what in the retail space?
Figure 16: Thematic screen
Figure 17: Valuation screen
Figure 18: Risk screen
Figure 19: Our five-step approach for generating a sector scorecard

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