You want to own a bag from Chanel but can’t afford the retail price. So maybe you look for vintage, pre-owned ones that you can buy for cheaper. However, of course you want to make sure that it is a real Chanel bag and not a knock off. The question is how do you know for sure other than going into a Chanel store and ask after you have bought it?
This question of authenticity goes for a lot of things and a lot of businesses. In any business you need to establish authority, authenticity and trust! Especially in today’s society this has become a big question. This is what most consumers pay attention to when they are considering buying anything, really. From fashion and art to toys for their kids and even laundry machines. People want something that they can trust, from someone that they can trust!
A lot of brands today try to be more transparent and true to their customers, showing them behind the scenes of the business, answering their questions and giving valuable information and advice. However, they have to do more. Yes, showing processes and providing information online and on social platforms are great, but customers really want to see that the brand does and supports, what they say they stand for.
Millennials are the generation that are especially suspicious of brands. They are not as brand loyal and more distrusting than generations before them. Why? Because they grew up with the Internet and it has provided them with the ability to check companies online, see real reviews from other customers, and it has become harder for companies to hide any wrong doing.
When a company does something wrong, they have to act fast because it can go viral very quick and they can’t just remove it, but they have to apologize! When Pepsi released the commercial with Kendall Jenner, depicting all the stereotypes possible and making a mockery of the Black-Lives-Matter Protests, it backfired so quickly, even taking it down a day later, couldn’t save them.
People all over the world can now hold companies accountable for their behavior, actions and products. They can share their experience and feelings about a brand in an instant and companies need to make sure that those people have a pleasant experience that aligns with the brand’s vision.
In high value industries it is even more important to clients that what they spend so much money on, is the real deal. ATO’s new vision for the art market is inspiring and while complicated to understand the idea of blockchain creating a market for artists, it is pushing into a new direction of authenticity and transparency.
It is in a creators interest, may it be the fashion designer or an artist, that their products keep the value they deserve and that the customer can know for a fact that what they are holding is not a fake. It makes me think that all products should have a digital kind of sticker (like the NFC sticker), that is not removable and will always let you know what you own and have. I would think that it would make anyone wanting to purchase a high value item more comfortable in knowing it is there, easy for them to find and access the information without needing an expert. After all, we all want what we payed for.
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