Digital Product Passports: Strategic Investment & Value

” DPPs are greater than simply examining a compliance box,” Aaron Cheris, partner in Bain & Company’s retail and customer method and advertising practices, claimed in a press release. “They are a foundational change in just how value is produced, recorded, and maintained over a product’s lifetime.”

DPPs: More Than Compliance

“DPPs can alter this vibrant by tracking an item’s whole trip– from initial sale with disposal– so brand names can see who has it, how it’s utilized, when it’s re-selled, and what services it needs along the way,” according to the report.

Informa PLC’s authorized office is 5 Howick Area, London SW1P 1WG. TechTarget, Inc.’s authorized workplace is 275 Grove St. Newton, MA 02466.

Electronic Records: Comprehensive Product Information

Once they’re fully applied, these standard electronic records are intended to consist of comprehensive information regarding a product, consisting of material make-ups, components, origin, ecological footprint and lifecycle.

While DPPs provide a large range of brand-new business chances, concerning 90% of brand names Bain talked to for this report said they check out DPPs as a conformity burden rather than a growth possibility.

Secondhand Garment Market Growth

The worldwide secondhand garments market was worth $230 billion in 2024, according to the ThredUp Resale Report, which Bain cited in its research. The resale segment is growing three times faster than the total international garments market, Bain added.

Style brand names need to view the European Union’s forthcoming electronic product passport need as a “strategic investment” due to the fact that DPPs have the potential to double the lifetime value of items, according to a June report by Bain & Company and ebay.com.