As young consumers become key drivers for global luxury sales growth, the expectation for aligning luxury brands with consumer values has become further heightened. Luxury companies are challenged to adjust their brand narrative to be more "authentic" and socially conscious. PwC's traceability solution combines blockchain with professional services to verify significant sustainability claims about products, maintain good practices, as well as ensure care for people and the environment.
Verifying Sustainable Practices
Customers demand higher transparency in today's digital age. There is a stronger emphasis on brands to work with responsible sources.
Shift in Purchasing Behaviour
Younger generations are more aware of environmental and social impacts. Purchasing decisions are based on brands that resonate with their own values.
Low Brand Loyalty
Customers have high expectations in the current social media era. Brand loyalty can become fragile if any messaging deviates from customer values.
How We Can Help
PwC's traceability solution can help your brand tackle sustainability challenges. Using blockchain, the solution allows you to trace through an entire product history and create a sensation of transparency for a new generation of buyers.
Our professionals can help you apply the solution capabilities to elevate your brand and awareness of your sustainability practices. In addition to securing customer loyalty, it creates new dimensions for customer advocacy to expand your brand's footprint.
Product Traceability Designated stakeholders involved in the creation of the luxury items can track every product from design to distribution.
Immutable Blockchain Record Hosting The solution can host product details in a secure blockchain ledger. Materials of origin, production date, and processing technology can all be traced accurately.
PwC's Professional Services Our professionals can advise on strategies to elevate your brand appeal with current and prospective customers.
Alignment with Customer Values Brands can offer more transparency and strengthen customer and investor trust on the brand's sustainability practices.
Brand Advocacy Customers are more likely to promote a sustainable brand within their network. This can greatly increase customer acquisition for no added cost.
Resilient Business Growth A strong perception of sustainability can help your business drive long-term growth as it aligns with consumers’ core values.
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