What will product passports mean for brands?
BUSINESS OF FASHION
December 6th, 2021
by BoF TEAM, MCKINSEY
“Fashion businesses are pouring investment into digital technologies,” says BoF, with drivers including consumer demand, authentication, and accelerating resale. Digital product passports such as the EON Digital ID will play a critical role in building customer trust, especially in the second-hand luxury goods sector. EON’s Digital ID supports instant identification, authentication, and valuation – critical for new business models like resale, a market pinned to reach $57 billion according to the BoF. “As resale grows, product passports will ease operational processes by offering readily available digital twins and standardized product information.”