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LABELL-D: Reframing retail for sustainable consumption

Posted on April 6, 2023 by dishanth

LABELL-D is introducing its Luxury Asset Exchange, which is set to disrupt the retail industry by revolutionising consumption patterns with innovative technology and promoting circularity and climate consciousness.

The Digital Label – a powerful software engine at the core of the platform – seamlessly links the first and second-hand markets, transforming products from ordinary commodities into valuable assets.

By connecting customers to brands and retailers, the platform crystallises purchases as wearable liquid assets, providing a unique and innovative shopping experience.

“Our platform benefits consumers, brands, retailers – and the environment. The next generation rightly demands a more sustainable way to consume,” says Julia Vendramin, CEO and Co-Founder of LABELL-D. “Brands lose touch with their products the moment they leave the store. LABELL-D closes the loop: authenticating a product’s ownership history, providing brands with loyalty and royalties on each trade.”

As the CEO, Julia Vendramin has significant industry expertise, having worked for Hugo Boss, Burberry, and Smythson. Angel investors have seed funded the company, which aims to scale its operations and technology in the future.

The platform already has over 75,000 active users, with 35 high-end brands, including Gucci and Burberry.

Targeting the next generations

Around 75% of the active users on LABELL-D belong to the Gen Z/Millennial age group, highlighting a shift in mindset and behavioral patterns across generations. Additionally, approximately 85% of fashion items are either abandoned in closets or disposed of in landfills.

The platform guarantees asset liquidity through validated pricing. This means that for the first time, consumers know the true value of their luxury items and brands are rewarded for their original creativity.

“The Luxury Asset Exchange is a scalable platform in the luxury market with fashion as the first step,” Vendramin adds. “The fashion sector is ripe for disruption – advances in technology such as blockchain allow us to create a truly circular economy. Our Digital Label is Web 3.0 generated – it tracks, traces, authenticates and allows customers and brands to trade. It is endlessly scalable.”

Source Sustainability

Sustainable shopping sees its star rise among consumers

Posted on January 31, 2023January 31, 2023 by dishanth

Shoppers’ tastes are becoming more refined in the face of climate change, says a survey by global commerce company by Shopify. According to the report, despite cost-of-living pressures, expensive, sustainable shopping is coming into vogue.

To reach that conclusion, Shopify surveyed over 24,000 consumers as well as 9,000 small and medium-sized businesses.

The main lines of the conclusions follow: 62% of consumers will not compromise on their green ethoses despite higher costs in the face of economic uncertainty. As well, 82% of businesses agree that sustainability and improved performance by the company are related factors.

Stacy Kauk, head of sustainability at Shopify, noted the overlapping of interests in the report’s findings: “This report shows climate-consciousness is driving purchasing decisions, even in challenging economic times.

“For both business and the climate, it’s in everyone’s interest to implement practices like carbon-neutral shipping and support for emerging sustainability solutions. This needs to be a collaboration between merchants, buyers, and the broader commerce community.”

Younger generations are driving this change: 59% of Gen Z shoppers and 61% of millennials are more sustainably-conscious in their shopping patterns. Furthermore, 31% of these were planning on being more sustainable in the upcoming year.

The pace of change of retailers leaves something to be desired, as well; 24% of these increasingly conscious shoppers seek out eco-friendly packaging and buying local.

Businesses move to adapt

Businesses are hearing the call of the consumer. That said, they also acknowledge the high cost of moving in that direction: 40% of businesses with 1 to 50 employees see it as an obstacle. But the bigger the business, the more elaborate the supply chain, and 48% of these see a problem.

But businesses are indeed at work finding sustainable resolutions for their customers. For instance, 35% of UK retailers now offer in-store recycling, and they are increasingly having programs where a percentage of the revenue goes to non-profits.

Source Sustainability