CXG and Trust-Place join forces to help Luxury Brands reinvent customer experience through Digital Ownership
Trust-Place, the French Digital ownership specialist, and CXG the leading global Customer Experience consultancy firm for premium and luxury brands, have decided to combine their skills to help brands reinvent customer experience around the Digital Certification of their products (aka NFT passports). This collaboration reinforces the shared ambition of Trust-Place and CXG to help and support brands in their new challenges of improving the user experience and digital transformation.
As Clément Barthélemy, Executive Vice President at CXG explains, “By definition, CXG must be as objective as possible in its business and consulting approach to brands. Trust-Place does not seek to impose a technological standard or create yet another Blockchain. We appreciate the open approach of their business-oriented digital ownership platform. Customers’ needs are changing at an unprecedented pace, and proactive brands respond rapidly to meet those needs. An important transformation we support our clients with today is sustainability, and a particularly growing topic in the luxury industry is preloved goods. Trust-Place solutions allow brands to quickly benefit from a service that is still limited today: knowing, measuring, and understanding their products’ entire life and connecting with a new breed of customers coming from wholesale or the fast-growing second-hand market! In this perspective, in collaboration with Trust-Place, we hope to add value and elevate the customer experience of our clients, through our client experience data and customers insights related to the second-hand market and NFTs.
“Trust-Place’s mission is to guarantee the digital ownership of a good throughout its life, whatever the sales channel (physical, digital or virtual), while unlocking a new landscape of post-sales data for brands. We offer them a new generation of CRM, making the unknown visible and measurable.” explains Didier Mattalia, co-founder and GM of Trust-Place. “We are giving the control of luxury and high-end products back to brands and end consumers. Digital Ownership Certification creates a new bond of trust between products and customers. It improves the transparency and security of exchanges, therefore offering a safe way to acquire valuable or exclusive products. We are very proud to be working alongside CXG, a recognized player in the luxury industry who has always helped organizations put the customer at the center, a philosophy that we share.”
The Digital Certificate in not an end, but a vector for unlocking a new generation of post-sale data.
Get to know customers better to invent new experiences
A new privileged and personalized relationship is established, regardless of the owner of the item. Brands are now able to analyze new information such as resale trends across different dashboards and KPIs. As for customers, they can now prove the ownership and authenticity of their products anywhere, anytime, allowing them to retain their value over time and to maximize their resale on the second-hand market.
“Many customers no longer view brands as mere product providers, but rather as part of their way of life. They expect these brands to offer distinct and memorable experiences and create a lasting relationship with them” continues Clément Barthélemy. “Our purpose is to help premium and luxury brands transform their experiences for meaningful impact. We believe that Digital Ownership Certificates, also called “NFT passports” would elevate the customer experience.”
An open platform compatible with any existing systems
The scope of Trust-Place platform covers all the “downstream” traceability of products as well as of their owners (indirect sales, second-hand, gifts, returns, etc.), from the first sale onwards.
The digital certificates of ownership are always created by the brand and fed based on product information from their “upstream” traceability systems (from the raw material to the finished product, including the suppliers and the transport used). This information dynamically evolves, and communication can therefore be established between the brand and the various owners of that product.
The upstream traceability market is highly fragmented. Today, many players offer IoT traceability platforms, or Blockchains. “One of Trust-Place’s great strengths is that the product has been designed to be interoperable with any upstream traceability system used by brands, whether it’s a simple product catalog, a PIM, or more complexes such as ERPs, IoT platforms, or even Blockchain! » specifies Didier Mattalia. “Indeed, we assume that it is almost impossible for a market to develop massively based on proprietary solutions. Therefore, we decided to develop a platform integrating a “Blockchain agnostic” component, used at its “fair value” (to secure the creation and the transfer of Digital certificates). All the business intelligence is in the platform. Above all, we do not want to create a new Blockchain, a new protocol, or even a new cryptocurrency. This positioning allows us to offer our solution to any brand, whatever its size, its information system, or its upstream traceability tool – in place or to come – and to give it the possibility of quickly benefiting from value creation around Digital Property Certificates”.
From speculation to an actual economic model
“We hear a lot of noise around new trends like NFTs, the Metaverse, or digital property. This creates a lot of confusion for brands” explains Clément Barthélemy. “One of the objectives of our joint thinking is also to educate and align around events such as Webinars, and to help brands distinguish between what pertains to speculation and what pertains to a real value-creation business model.”
Trust-Place and CXG are at the beginning of a great journey of innovation that started by exploring the opportunities that NFTs can offer luxury brands to elevate the experience of their customers.
To learn more about Trust-Place visit www.trust-place.com