The market for customized goods is here, thanks to your data
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Since the rise of e-commerce, shopping is a breeze for consumers. Anyone with Wi-Fi and a computer can buy nearly anything online and have it delivered to your door in a few days. This surge in online shopping has given companies more data on their customers and an insight into what consumers want most: convenience. Companies have now created a new form of convenience with personalized products. Customers can now skip the trip to the store, and forget about the crowded aisles of different shampoo or vitamin options. In an interview with Marketplace host Kai Ryssdal, Ellen Boyd of the Wall Street Journal said that consumers “would rather spend a few minutes filling out a detailed profile of themselves and what they want versus spending that time in a store.” This market for customized goods is tailored to the individual consumer, which comes in an age when “consumers are far more comfortable offering up information about themselves.”
Click the media player above to hear the interview.
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