Over the years, the luxury brand industry has faced severe challenges to maintain customer trust. The rise of counterfeits impinges on the integrity and perception of many luxury brands. Further, with the growth of the second-hand market further expands the threat posed by counterfeit goods. PwC's traceability solution combines blockchain technology with professional services to equip your businesses to mitigate the risk of counterfeits and improve overall brand recognition.
Growth of Luxury Resale Market
The rise of second-hand markets is making it even more challenging for consumers to avoid counterfeits and thus increasing the threat of counterfeits.
Luxury Brand Perception
The luxury market has been diluted by accessibility. Companies need to find unique ways to elevate their brands to ensure they are more personal and authentic.
Declining Brand Loyalty from Younger Generation
Customers have high expectations driven by channels such as social media. Brand owners face more pressure than ever to sustain a healthy brand image that aligns with customer values.
How We Can Help
PwC's traceability solution can help your brand tackle the challenges of counterfeit goods. Using blockchain, the platform allows you to trace through the entire product history and securely document all relevant information in the platform.
Our professionals can help you apply the platform’s capabilities to elevate your brand, advance customer reassurance, and add new dimensions to the customer journey.
Product traceability All participants involved in the creation of each luxury item can track the stages throughout the product life cycle from design, manufacturing to distribution, extending even into the second-hand market.
Immutable blockchain record hosting The platform can host details of each product in a secure blockchain ledger. Materials of origin, authenticity identifiers, and warranty services can all be reliably tracked.
Brand management and execution Leveraging our traceability platform, our professionals can create and execute programs optimised for your business needs.
Minimise Impact of Counterfeit Goods By using tracking measures build with blockchain technology, authenticity of luxury goods can be effectively traced.
Genuine Brand Trust The traceability features of our solution enable brands to strengthen customer trust and create a unique story for each luxury product.
Enhanced Brand Loyalty and Value The holistic approach allows brands to be proactive in enhancing brand loyalty and create customer demand for luxury goods.
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