The Era of Digital Product Tags Is Nigh
Retail analysts, such as WGSN, have predicted the rise of digital product tags for years. The growing technology has seen multiple use cases across brands and is expected to reshape the retail landscape long-term.
"We'll see Digital IDs really start to hit mainstream over the next few years, giving consumers highly detailed information about an item, from where the product has been and how it was manufactured, by simply scanning a QR code. This could reshape current-day models and offer consumers more peace of mind," says Candice Medeiros, strategist at WGSN Insight.
Digital IDs offer unlimited benefits, spanning from authentication to supporting a transparent product lifecycle. They also solve systemic barrier to sustainable business models by turning products into intelligent assets that brands can use to monetize, increase profitability, intelligence and sustainability for each physical product
"Through the digital ID, Mulberry can offer customers increased transparency into the unique journeys of our products, deliver services such as lifetime repair, buy-back and resale, and ensure that every bag can have multiple lives." – Thierry Andretta, CEO, Mulberry