Essay

Market Impact of Mass Customization

A company develops a new manufacturing process that allows it to offer custom-fitted suits to a wide audience at a price significantly lower than traditional bespoke tailoring. Previously, such customized garments were a luxury good, crafted by skilled artisans in a labor-intensive process and accessible only to a small, wealthy clientele. Analyze the likely effects of this innovation on the overall market for men's suits. In your response, examine the potential impact on at least three distinct market participants (e.g., consumers, traditional artisans, manufacturers of standard off-the-rack suits).

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Updated 2025-08-15

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