Character customization and purchasing new clothes will play a big part in building your identity, along with the skills you unlock and learn.
We also got a quick look at the crafting/transcribing system in The Secret World. While we don't have anything to show you at this point, we do know that you'll be able to break down items and reassemble them into something useful. Stats are based on the types of material you use, and you need enough materials to fill out the shape of the item you want to make. For example, to create a hammer, you need to lay out the materials in the shape of a hammer.
We hope to have more details in the near future. The Secret World will be released June 19 on the PC.