Current trend of product customisation in retail sector

Inquiry based learning

Table of Content
EXECUTIVE SUMMARY.............................................................................................................1
INTRODUCTION...........................................................................................................................1
Rationale..........................................................................................................................................1
Hypothesis.......................................................................................................................................2
Literature Review............................................................................................................................2
Research methodology.....................................................................................................................3
Analysis...........................................................................................................................................4
Findings...........................................................................................................................................7
Recommendations............................................................................................................................7
Conclusion.......................................................................................................................................7
References........................................................................................................................................8
Appendix..........................................................................................................................................9

TOPIC
Current trend of product customisation in retail sector.
EXECUTIVE SUMMARY
This report is based on inquiry based learning with the help of which an understanding of a
topic is developed. The aim of the report is to identify various trends in the retail industry as this
will make them understand the behaviour of the customers. The determination of various factors
will help retailer to understand the requirement of changes in the technology so that they can
make their customers loyal and satisfied. Further it is important for the organisation to identify
the importance and influence on the customers of personalisation of the product, trends must be
analysed so that they can also adopt so and many more.
INTRODUCTION
Retail sector is UK is considered as the one of the largest sectors of the region because it
is contributing a huge amount in GDP of it. There are various trends which are taking place in
retail sector. Product customisation is one of the major trends in the whole industry. It is focused
by various organisations as it helps them to strengthen customer base. In order to grow the
business, it is essential for enterprises to make sure that they focus upon latest trends so that all
the growth opportunities in the market could be identified.
Aim of the project
“To identify the current trend of product customisation within retail industry”.
Objectives of the project
 To develop basis understanding about the product customisation in retail industry.
 To analysis the benefits of product customisation for retail industry.
 To determine the current trends of product customisation within retail Industry.
Rationale
Product customisation is selected for conducting the research because it is one of the
latest trends in retail sector which is required to be focused by all the companies such as John
Lewis partnership. With the help of it, enterprises will be able to attract large number of clients
which will be beneficial to achieve long term sustainability. By adopting this trend John Lewis
can launch such clothes that customers are willing to buy according to their requirements. It will
be beneficial for the organisation to strengthen the market share.
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Research Questions
 What is the importance of product customisation in the retail industry?
 What are the benefits of customisation in the products for the retail industry?
 What are the prevailing trends in the retail industry in context of customisation of the
product?
Hypothesis
For this research the various hypothesis that are drawn includes:
 The buying behaviour of the customers is directly related to the trends that are prevailing
in the market.
 Customisation in the product can facilitate them in dealing with the adverse impact on the
changes in the taste and preferences of the customers.
 Ethical consideration: When the information is gathered with the help of secondary
research it becomes important for the investigator to perform ethically. This will enable
them in avoiding the ethical misconduct. For this the authors and writers must be
presented whose has been used in the research so that outcomes can be made reliable and
authentic (Tang, Lai and Cheng, 2016).
Literature Review
To develop basis understanding about the product customisation in retail industry
According to Yamarie Grullon, marketplace has become a place where it is difficult for
the customers and for the marketer to provide their goods efficiently. For differentiation the or-
ganisation provides customized products to the customers. In the retail industry various trends
are emerging with the increasing use of the social media, e-commerce etc. and with this the cus-
tomers has started preferring more personalized goods (Konings and Vanormelingen, 2015).
Even the small retailers are focusing upon leveraging personalized products as this facilitates
them to enhance their revenue.
To analysis the benefits of product customisation for retail industry
According to Tina Mulqueen, it is analyzed that the organisation themselves have started
focusing upon customization of the product as with this they can improve the loyalty of the
customers. The rise of the e-commerce played crucial role in promoting as for meeting up with
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