Research indicates that consumers want personalized products and expect benefits in exchange for their data

Generations X, Millennials and Z are the most willing to share data for customization for personal safety, time savings and monetary benefits

Dassault Systèmes announces global survey results indicating that younger consumers are leading the push for customization, which improves products and services, quality of life and personal safety, and are more willing to pay and share their data to get it. there. The findings came from a survey of citizens representing adult demographics in the United States, China and France, conducted in partnership with the independent market research firm ISCED Research.

The survey revealed the differences between generations, location and levels of technology adoption in terms of how consumers see customization in areas of: mobility, healthcare, retail and home and urban environments, how they define customization and what they are willing to give up to get it. However, it also confirmed that almost all consumers already value the importance of customization, particularly in the areas of personal health and safety, and share concerns about how data is collected and managed to achieve them.

Research indicates that:

– Consumers want customization but don't want to wait for it. 83% of consumers expect products or services to adapt to their needs in a matter of moments or hours. Only 21% wait four or more days for a custom product or service to be delivered.

– Consumers are willing to pay an average of up to 25.3% more for customization. In return, they expect to be compensated with an average savings of 25.6% for providing their data. They are more willing to pay for customized healthcare and less for customized retail.

– Industry has a clear opportunity to define customization. Consumers have a mixed definition of customization. More than 50% define it as services that they customize before purchase and as services selected from a picklist, as well as services created based on personal data; 63% of early technology users define customization as services created based on their personal data.

– Consumers are more interested in customized products and services that benefit health, such as behavior-based preventive health plans and fall warning systems.

– Personalization in the area of personal security is also of interest to consumers, such as products that notify urgent residential emergencies, location-based crime alerts, and reporting your location to the police during times of security concern.

– Data privacy is a concern for 96% of consumers. Most consumers will only share the data they've agreed to share in exchange for customization, but anonymizing the data will make six out of ten respondents more willing to share. 88% will stop a useful custom service if they are unsure of how their data is being managed. For 68%, consumer demands will lead to data protection.

– Artificial Intelligence, 5G and home assistants are required for customization. About half of consumers feel that 5G, in particular, is much needed for healthcare delivery customization, while in retail it is seen as less vital.

– Customization expectations differ between generations. Generations X, millennials, and Z are more comfortable sharing data for better customization and are more likely to agree on the personal security, time, and monetary benefits it brings than baby boomers and traditionalist generations. 60% of baby boomers are more excited about customization in healthcare, 24% of Generation Z with mobility and 21% of millennials about the environment.

– Chinese consumers are more enthusiastic about customization than Americans and French, but Americans have higher expectations. More American consumers expect customized products and services to be common by 2030, and more are willing to pay for customizations.

“Consumers want experiences that have customization as a differential, especially among younger consumers. The solution for manufacturers to take advantage of this trend is to collect, analyze and transform data while addressing data privacy concerns. Our 3DEXPERIENCE platform allows them to do just that. Using the platform, companies can innovate, design, create and manufacture hyper-customized products in the most sustainable way,” said Florence Verzelen, Executive Vice President Industry Solutions, Marketing and Global Affairs at Dassault Systèmes.