Recent research shows that 46 percent of customers prefer digital product traceability tools, compared to 33 percent who favour traditional analogue formats and 21 percent who want a combination of both. This reflects a clear preference for the portability, flexibility and immediacy offered by digital solutions. (Source: McKinsey & Co, Bain & Co, De Beers, IBM / NRF 2020, Accenture 2021)
Interpretation
This data indicates that customers value the ease of access and real time updates that digital platforms provide. For platinum jewellery, where proof of authenticity and detailed product history are critical, a digital-first approach aligns with modern expectations and lifestyle preferences.
Insight
Customers increasingly see their smartphones and digital devices as essential companions in managing valuable possessions. A digital traceability tool offers them instant confidence and control, strengthening their emotional connection to a purchase and supporting their sense of ownership.
Implication
Retailers and manufacturers must prioritise digital traceability solutions to meet customer demands. While analogue options still hold value for certain segments, the ability to deliver information instantly and interactively through digital channels can improve trust and enhance the luxury buying experience.
Opportunity
By adopting fully digital or hybrid traceability solutions, platinum jewellery brands can position themselves as innovative and customer centric. Providing easy access to certificates, service history and ownership details via a secure app or digital wallet can become a strong point of differentiation in a crowded market.
Recommendation
Professionals should begin by assessing their current traceability offerings and identifying areas for digital integration. Partnering with technology providers to create secure, user friendly digital solutions and training staff to promote these features will help increase customer satisfaction and encourage loyalty.
