Lifestyle-focused consumers are increasingly seeking products personalized to their individual preferences rather than those corresponding to traditional demographic stereotypes. More specialized and differentiated products are being introduced in order to optimally cater for different age, gender, and ethnic groups, as well as the lifestyle benefits sought by more demanding consumers.
GlobalData’s 2016 consumer research found that 66% of consumers globally are most likely to purchase products developed for their particular lifestyle, a figure ranking above the percentage of those most swayed by demographic alignment.
In today’s individualistic society, there is a growing desire for personal care products which can better align with consumers based on their individual preferences and personality in order to effectively express themselves, as well as meeting the needs of a specific lifestyle they are trying to lead.
Within personal care, for example, targeted offerings which can align with specific exercise patterns can appeal to the increasingly active lifestyles of many consumers. This particularly resonates with 25-34 year olds who are most likely to find personal care products designed for a specific activity, hobby, or sport appealing.
Personalization benefits rank among the top 10 factors that would encourage consumers to buy luxury/premium products. Brands should consider updating traditional personalization approaches, such as by demographic, through combining lifestyle cues alongside conventional segmentation.