Underwriters Laboratories (UL), a global safety science company, has released its annual global survey on manufacturers’ and consumers’ perceptions of products, whether they are making and selling them or buying and consuming them. Here are some of the key findings from this report.

Optimism gives way to realism

A significant difference from last year’s mindset is the evolution from positivity and confidence to pragmatism and realism. In 2011, the product mindset revealed that manufacturers were certain about their performance, while consumers were optimistic about product quality. In 2012, we’ve seen both groups shift to a more realistic attitude.
• 87 percent of manufacturers agree that government regulations are increasingly stringent.
• 90 percent of manufacturers are convinced that innovation is becoming more important.
• 75 percent of manufacturers think that consumers are more concerned about the ethical and fair treatment of workers at all levels of the supply chain.
• 42 percent of consumers strongly believe that manufacturers need to improve product quality.

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