Get Even More Visitors To Your Blog, Upgrade To A Business Listing >>

[New report] Radical Approaches to Product Manufacturing and Design

[New Report] Radical Approaches To Product Manufacturing And Design
At the same time, companies face increased competition for consumer loyalty, which has led them to consider how they can offer consumers a more personalized product experience. As a result, brands are embracing more agile processes across product development and production. Digital tools like AI, AR, and 3D printing can bring consumers into the production process as collaborators, which in turn creates new opportunities to gather insights, feedback and data in real-time, closing the loop between needs and finished products. By giving consumers greater control and confidence over their purchase decisions, companies can not only drive repeat sales but reduce operational and environmental costs associated with unsold merchandise and returns. To support companies as they consider new processes and initiatives to meet emerging consumer needs, the PSFK research team has identified the 5 key trends shaping future product design and manufacturing. Developed through the lens of technological advancements, digital behaviors, and sustainable business models, these trends highlight the innovative ways organizations are reimagining not only product design, but the final consumer experience as well.

Proprietary Insights With This Report

There is an expectation among consumers for the retailers and brands they shop with to demonstrate responsible and sustainable practices.  Consumers are demanding that manufacturers take environmental measures such as sustainably sourcing components and ingredients or employing a production process that reduces waste. In fact, 3 in every 5 US shoppers say they are influenced to buy products from companies with responsible manufacturing. PSFK US Shopper Survey, Radical Approaches To Product Manufacturing & Design, 2022  Consumers are willing to share data in exchange for a customized product or experience, but many still need to be convinced of the benefit. While many people find what they're looking for when shopping, there's a significant portion who need help finding products that are physically right for them. Over 45% of US shoppers say they seldom or never typically find the perfect size, shape or fit. PSFK US Shopper Survey, Radical Approaches To Product Manufacturing & Design, 2022  While shoppers are interested in bespoke products made on-demand, there's a limit to the amount of personal information they are willing to share today. 57% of US shoppers say they would only share a little or moderate amount of data to brands and retailers in order to be offered products that are the right size & shape. 14% of shoppers say they don't want to share any data at all. PSFK US Shopper Survey, Radical Approaches To Product Manufacturing & Design, 2022  To improve overall CX and meet demand changes in real time, companies are adopting strategies that shorten supply chains and tailor production to reflect customer needs on a localized level.   While many US shoppers are happy to have their goods made anywhere in North America (31%) (or even the world (15%)), a high proportion are looking for locally made products. 48% of US shoppers would prefer to buy from companies that make their products within 100 miles of where they live. PSFK US Shopper Survey, Radical Approaches To Product Manufacturing & Design, 2022  As eCommerce grows, the environmental impact of deliveries increases too. 43% of US shoppers are concerned or very concerned about the environmental impact made by the shipping and deliveries of their online shopping. Only 7% say they are not concerned at all. PSFK US Shopper Survey, Radical Approaches To Product Manufacturing & Design, 2022  #manufacturing


This post first appeared on Ideas For Innovation | PSFK, please read the originial post: here

Share the post

[New report] Radical Approaches to Product Manufacturing and Design

×

Subscribe to Ideas For Innovation | Psfk

Get updates delivered right to your inbox!

Thank you for your subscription

×