Luxury brands have long been known for producing items of the highest standard of quality, craftsmanship, and design, maintaining brand prestige and status, thus making them luxury. Rare objects have always been valued, but Gen-Z has brought us an era of popularizing ultra-customization.
The global personalization market is estimated to be worth $943 million in 2022. According to a study, 76% of consumers say they’re more likely to purchase from brands that personalize, and 60% of consumers say they’ll become repeat customers after a personalized shopping experience (McKinsey). Additionally, in 2020, 89% of marketers saw a positive ROI when they used personalization in their campaigns (Adobe).
Technology advancements are making ultra-personalization more accessible, making it easier for brands to create customized, made-to-order products. One of the most valued luxuries is exclusivity, and personalization does a lot to break up the homogeneity usually found in brand offerings.
Ultra-Personalization in Corporate Gifting
Corporate gifts tailored to recipients’ interests became increasingly popular in 2022. As a result, the market has grown 400% over the past five years, with revenue reaching $77B by 2022.
Nothing communicates the essence of luxury more effectively than gifting clients something truly one-of-a-kind. A personalized element to a gift shows an added effort and intention and can strengthen the relationship a brand has with its customers. A survey in 2022 conducted by Sendose showed that 83% of respondents felt closer to companies that sent them corporate gifts (Sendoso).
Corporate gifting can be personalized in many ways, such as by engraving items, adding customized elements specifically requested by the customer, or by allowing them to craft their own item with design options.
With social media and influencer marketing continuously on the rise, luxury brands are increasingly turning to gifting as a key element of brand awareness. Several luxury brands are implementing this trend of ultra-personalization into their services, including Gucci, Burberry, Balenciaga, and more.
Balenciaga Personalized Gift Campaign
Balenciaga’s recent campaign aimed to leverage exclusivity while providing their clients with a customized, high-quality gift. Balenciaga engraved each client’s name on the gift to add personalization and fortify an intimate relationship with the recipients, adding a relational element.
As a result of this gift campaign, clients were able to acquire a completely unique item, custom-made just for them, enhancing their relationship with Balenciaga.
