International. The needs and expectations of future generations regarding the HVAC/R industry were analysed in a document called the Visionary Paper, produced by the European Energy and Environment Association (EPEE) and the European Ventilation Industry Association (EVIA). This document builds on discussions held during EUREKA 2016, an event held in the Netherlands.
The document explains that Generation Z (people born between the mid-90's and early 2000s) will be even more demanding than current customers and that their demands are fundamentally changing the way the sector will work.
1. "I want the full service, not just a product"
Generation Z will look for convenience and ease of use in purchasing a concept or feature rather than focusing on a particular product. It will be necessary to change the mentality of the heating, ventilation, air conditioning and refrigeration sector to adapt to these expectations, moving away from complex and technological products and towards fully integrated and easy-to-handle solutions.
The challenge: Redesign the classic relationship between manufacturers and consumers and switch to models
based on the service.
2. "I want the product to be exactly what I need"
The consumers of the future will be more demanding and will want to be unique. Customized solutions tailored to your needs, with possibilities for self-learning, self-adaptation and self-management will be mandatory. Technological innovation such as 3D printing and robotization will reinforce this trend.
The challenge: Finding the right balance between standardization and customization at an affordable price.
3. "I only want to pay for a service when I need it"
The sharing economy has also reached the heating, ventilation, air conditioning and refrigeration sector, and access to products and services instead of their possession will be the norm. Driven by the "Internet of Things", new technologies will further enable customers to share and consume resources more efficiently and consciously based on the principle of paying for what is used.
The challenge: Create new business models that meet consumer expectations while remaining profitable.
4. "I'm worried about the impact of what I do"
Generation Z is well aware of the impact of humans on the planet. That's why you want to change things by leading a more sustainable life. To make this happen, they will easily access all product performance and footprint information.
The challenge: Finding the right balance between manufacturing future-proof products from an environmental and human well-being standpoint while maintaining their affordability.
5. "I know the world is very big, therefore I want to control what surrounds me"
In recent decades, we have experienced an increase in globalization, where the product itself and its (low) price were more important than the place where it was produced. While globalization will continue to be part of our society, the consumers of the future will be more sensitive to their local context, both from an environmental and economic point of view. They will prefer locally sourced products and agree to pay a higher price for them.
The challenge: Manage the "two-way trend" between the local and the global, the increasingly larger but smaller.
6. "I'm a digital native"
Digital technologies have spread at an exceptional speed in recent decades and are changing the way we live and think. Generation Z is comfortable with information and communication technologies (ICT), is used to interacting with people around the world through social networks and using applications for every aspect of their daily lives (education, friendship, love, hobbies, etc.).
The challenge: Greater integration of ICT and the abundance of data flows will require clarity on data protection and confidentiality to ensure consumer trust.
The full document in Spanish can be read by clicking here.
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