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The best products are ones that tell us a story. As more consumers choose to support brands with ethical practices, the way companies tell their story is important.
A British fine jewelry company recently published a video, where they show the making of their rings, from Earth to Heirloom. The video tells the story of how gems are ethically sourced from rivers in Sri Lanka, cut and polished, and then sent to Mumbai to be designed and set in a custom metal band made of recycled platinum or gold. After being set and checked for quality assurance, they are sent to a store in London to be sold.
As well as telling the story of the product itself, the video shows the individuals involved in the process, as they create timeless pieces for milestone moments. Conscious consumers are becoming increasingly dedicated to companies that share the story of their products, because it shows that they make their products personally, passionately, and in an ethical way. Companies that can tell a powerful story about the journey of their products are heading in the right direction, but can they prove their responsible practices?
According to a survey by the World Gold Council, 70% of gold jewellery buyers want products that are ethically sourced, with sustainable environmental practices, and good working conditions for those who mine their products - this demand is only going to grow as Millenials and Gen Z increase their buying power.
Companies that tell such a powerful story should also be working to ensure the story they tell aligns with the provenance of the items they sell. Our Digital Product Passport platform is a blockchain technology that gives companies a trusted, immutable record of transactions across their supply chain to support responsible supply chain management and due diligence. Peer Ledger Digital Product Passport helps companies back up the story of ethical practices they want to share with their customers, and gives them reassurance that the ethical origins of their product are recorded. A recent video from PAMP S.A. shows how our platform helps them track and trace their gold bars, and shows their customers that they are complying with the ethical practices they preach.
We believe that sharing a product's story is a powerful way to help consumers find companies and products that align with their values. Our DPP platform not only helps to tell that story, but backs it up, so that customers and companies have peace of mind.
Michelle Graff (Nov, 2019), 70% of Consumers Are Interested in Ethically Sourced Gold, National Jewelry. Retrieved from https://www.nationaljeweler.com/articles/2130-70-of-consumers-are-interested-in-ethically-sourced-gold
