Why Switched-On Brands Can't Ignore Growing Consumer Expectations
On-Demand Products and Experiences
Today, 55% of world’s population lives in urban areas. By 2050, that number is expected to grow to 68% with 60% of that growth coming from 600 cities. With this growing, urban, middle-class consumer comes new expectations for real-time, digitally-connected experiences that make use of the various digital devices in their lives. They understand that humans are using up resources at a rate 50% faster than they can be restored by nature and, thus, are demanding sustainable products that are resource neutral. And finally, they are far more product-educated than in the past and require a deep degree of personalization. Whether it is exploring options, searching for a specific product, or creating something personalized; the New Consumer demands an easy, yet engaging brand experience that meets the needs of their new lifestyle.
Connect with Consumer Data to Drive Innovation
The New Consumer creates massive amounts of data. Whether it is real-time health monitoring from a wearable smart device, or home automation information such as temperature and lighting levels from a connected IoT device, consumer data is everywhere. Building new devices to capture this data and making use of existing data to create new product categories will be at the core of future innovation efforts. With 80% of consumers expecting to be using personalized products by 2030, making use of consumer insights while accelerating product creation through the use of 3D design methodologies will allow brands to create innovative, consumer-centered products for less cost and in less time.
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