November 27, 2013
NORTHBROOK, Ill., November 27, 2013: One in three Americans will be shopping on Black Friday this year. But do manufacturers really know what consumers want? While we tend to focus on the hottest gadget and the best deals, savvy consumers are looking for a little more from the products they buy.
UL's annual study, The Product Mindset, found a number of gaps in priorities between manufacturers and consumers in what is expected or desired and what is being delivered when it comes to products in the marketplace. Below are five key insights about what consumers feel is important to them.
- Quality: It is the thought that counts, but quality is also important. Manufacturers should assure consumers that the best quality materials are used in products.
- Performance: For consumers, product performance is the second most important driver of purchase behind quality so it should be prioritized.
- Sustainable: Green is a feel good gift. Consumers believe manufacturers could do more in terms of environmentally friendly manufacturing procedures and products.
- Healthy: Examining the health impact of products is a key concern for consumers, especially products that are ingested or close to the body. Manufacturers should make communicating the health impact of products a priority.
- Positive Global Impact: Where and how products are being sourced is also important to consumers. For manufacturers, it's important to show the full-make up of products including their components or ingredients and demonstrate workers are treated fairly.
"Having worked with manufacturers for more than a century to help ensure products are safe, healthy and sustainable, we believe these findings are especially important during the holiday season," said Keith Williams, president and CEO, UL. "The Product Mindset reflects the fact that consumers are actively engaged in better understanding the products they purchase and consume. Addressing evolving needs can help manufacturers with consumer concerns and priorities today."
To obtain the full study with all the key findings and use the data visualization tool, visit: ul.com/productmindset.
UL is a premier global independent safety science company that has championed progress for 120 years. Its more than 10,000 professionals are guided by the UL mission to promote safe working and living environments for all people. UL uses research and standards to continually advance and meet ever-evolving safety needs. We partner with businesses, manufacturers, trade associations and international regulatory authorities to bring solutions to a more complex global supply chain. For more information about our certification, testing, inspection, advisory and education services, visit http://www.UL.com.