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Analysis:
Analysis
8 minute read

Embracing Digital Product Passport as a regulatory requirement

Setting a new standard for luxury experiences and circularity

The Digital Product Passport (DPP) is key enabler of trust in luxury, and regulations requiring DPPs for products sold in Europe are expected to come into force soon. In this article, we will explore why luxury brands should start exploring DPP adoption, and the benefits they can provide.

Evan Sheehan
Karine Szegedi
Embracing Digital Product Passport as a regulatory requirement
8 MB PDF

What is a Digital Product Passport (DPP)?
 

  • A digital bridge between the customer, the product and the brand
  • A digital carrier on the physical product creating a unique link with the product’s digital identity
  • A digital touchpoint enabling new upstream and downstream customer experiences
     

While the adoption of DPPs has so far been driven by luxury fashion and jewelry, it could touch upon many other industries (e.g., automotive, art, hospitality, perfume, cosmetics, furniture, yachting, etc.). The modularity and flexibility of DPPs means that each one will differ, as each brand selects its desired features to enable functionalities that fit its specific industry, business strategy, and target audience.

Topics covered in our whitepaper

  • Explanation of the expected regulations requiring DPPs for products sold in Europe
  • Importance of complying with regulations to avoid penalties and maintain brand reputation
  • Benefits of adopting DPPs early to get ahead of the curve
  • Explanation of how DPPs provide a direct channel to engage and retain customers in the long term, creating a new source of customer data
  • Examples of new revenue streams that can be generated through DPPs, such as product-based experiences and augmented aftersales services
  • Explanation of how DPPs provide an immutable and reliable way to check the authenticity of a product and ensure it belongs to its rightful owner
  • Benefits of reducing counterfeit and theft for brand reputation and customer trust
  • Explanation of how DPPs provide a transparent and immutable declaration of sustainability and traceability
  • Benefits of demonstrating the absence of greenwashing to customers and regulators for brand reputation and

In summary, luxury brands should adopt DPPs to comply with expected regulations, unlock new revenue streams, protect their products, and build trust with customers and regulators. By adopting a DPP early, brands can get ahead of the curve and avoid being caught off guard by the new regulations.

The DPP Luxury Pyramid Solutions for digital product passports
 

To learn more about the benefits and challenges of deploying a DPP, download our whitepaper, developed in collaboration between *Deloitte and Aura Blockchain Consortium.

*Deloitte & Aura Blockchain Consortium

Aura, the industry-leading non-profit consortium composed of 40+ luxury brands, is teaming up with Deloitte to advance the digital transformation of the luxury industry, providing end-to-end support to brands from strategy to implementation & industrialisation of Digital Product Passports.

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Evan Sheehan

Global Retail, Wholesale & Distribution Sector Leader

Karine Szegedi

Consumer Industry Leader

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