Co-creation Model
Co-Creation MODEL
HOW DOES IT WORK ?
- Customers are involved in the creation process of products, providing flexibility in selection and customisation
- This model may leverage mass customisation, typically by offering a variety of modules to be added to a core component of the product. Customers select modules and respective variations (e.g. colour) that collectively form the end product
- 3D printing technologies may also be adopted for this model, in which 3D models can be printed on-demand as a visual mock-up or prototype, or as the end product itself
bUSINESS IMPLICATIONS
- Retailers need to balance production costs and economies of scale with the amount of customisation that is allowed
- Important for retailers to develop a robust product returns policy
- 3D printing enables reduction in time required for strategy and product design, allowing retailers to respond faster to consumer feedback and trends
- As 3D printing eases the imitation of products, retailers may need to be mindful of infringing intellectual property rights of others, and protecting that of their own
relevant sub-sectors
Consumer Electronics
Jewellery & Timepieces
Fashion & Sporting Goods
Furniture & Household
For the Jewellery & Timepieces sub-sector, current models exist for timepieces; however, this is not yet prevalent for jewellery.
