India's consumers demand personalisation: Industry leaders

India's consumers now demand customization, not sameness, according to industry leaders. Personalization is key, especially among middle-class customers from small towns. Luxury hospitality, apparel, watches, payments, and spirits companies are reimagining their offerings to meet this demand. Brands are offering mass customization, tailoring, and unique experiences to make every consumer feel unique.

India's luxury market is undergoing a significant transformation, driven by a new wave of consumer expectations. According to industry leaders, the demand for customization is paramount, especially among middle-class consumers from small towns. This shift is not limited to hospitality but extends to apparel, watches, payments, and spirits companies, all of which are reimagining their offerings to meet this evolving demand. The focus is on mass customization, tailoring, and unique experiences to make each consumer feel special and unique.

In the hospitality sector, luxury brands like The Oberoi, IHCL, The Leela, ITC, and Marriott are at the forefront of this evolution. These brands are no longer confined to marble lobbies and gilded chandeliers but are instead focusing on creating immersive, personalized experiences that resonate with today's travelers. For instance, The Leela's Anuraag Bhatnagar opines that luxury at The Leela has transformed from an aesthetic expression into an ecosystem of deeply personal, immersive, and culturally resonant experiences [1].

The Leela celebrates India's cultural richness through modern expression, from lakeside villas in Udaipur to sleek urban escapes. Similarly, ITC Hotels are redefining luxury by weaving sustainability into their DNA without compromising on charm or comfort. ITC's Amaan Kidwai emphasizes that luxury today is defined by purpose, provenance, and consciousness, with experiences that are personalised, authentic, and deeply rooted in a sense of place [1].

This trend is not just limited to the metros but is also extending to Tier II and Tier III cities. According to Sunjae Sharma, Managing Director of Hyatt, India & Southwest Asia, destinations like Bodh Gaya, Haridwar, and Amritsar are witnessing a surge in luxury travel. These locations cater not just to leisure travelers but also to the growing segment of spiritual and wellness tourism [1].

The shift in demand for personalized luxury is also evident in other sectors. For example, luxury apparel brands are offering mass customization, allowing customers to tailor their clothing to their specific preferences. Similarly, luxury watch brands are providing bespoke watch designs that reflect the individual's personality. Payment companies are offering personalized payment solutions, while spirits companies are creating unique, limited-edition bottles to cater to the growing demand for exclusivity.

The impact of this shift on the financial landscape is significant. Companies that can successfully adapt to this new paradigm of personalized luxury are likely to see increased market share and profitability. On the other hand, those that fail to meet these evolving expectations may face declining revenues and market share.

In conclusion, the rise of personalized luxury in India is a testament to the evolving consumer landscape. Brands that can successfully adapt to this new paradigm will be well-positioned to capture the growing market for luxury goods and services. As the demand for customization continues to grow, so too will the opportunities for financial growth.

References:
[1] https://www.bwhotelier.com/article/the-business-of-luxury-567945