target audience: TECH SUPPLIER Publication date: Jan 2024 - Document type: IDC Survey Spotlight - Doc Document number: # EUR151742324
Is the Digital Product Passport the Next Big Breakthrough in Retail?
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Abstract
This IDC Survey Spotlight highlights strategies and preparations by retailers in anticipation of the prospective EU Digital Product Passport (DPP) regulation. This regulation is expected to apply to specific categories of consumer products, such as electronics and fashion/textiles. As the European Commission outlines the specifics of the DPP, certain technologies such as blockchain and non-fungible tokens (NFTs) are emerging as potential solutions to enhance transparency in the retail value chain and provide customers with comprehensive product information and footprint visibility. This document presents the investment plans of retailers for the next three years concerning the application of NFTs within the DPP context and highlights the retail subsegments leading this trend. Data presented is based on IDC's Global Retail Survey conducted in 2023.