Blockchain In The Fashion Retail Industry Statistics

2022 EU Digital Product Passport pilot coverage targeted 22 product categories (European Commission) [1]

The EU Ecodesign for Sustainable Products Regulation proposes a digital product passport for many product categories (summary) [2]

Consumers want to access detailed product information (barcode/QR) when purchasing (IBM) [3]

49% of consumers say they would like to scan a product to see its full history (IBM survey) [3]

44% of consumers would trust a company that uses blockchain to verify product authenticity (IBM) [3]

37% of consumers would use blockchain-based verification for fashion brands (IBM) [3]

42% of respondents are interested in buying from brands that provide proof of origin (survey) [4]

56% of shoppers say they would use QR codes to learn more about products (survey) [5]

52% of retailers say customers are asking for more product information (retail survey) [6]

47% of consumers prefer brands that provide real-time information about product status (survey) [3]

38% of consumers say they would pay more for verified provenance in luxury (survey) [7]

33% of consumers want confirmation that materials are ethically sourced (survey) [8]

48% of consumers are more likely to purchase when they can trace the product’s history (survey) [3]

26% of shoppers have scanned a QR code on a product at least once (survey) [9]

31% of fashion customers use mobile apps to learn about product origin (survey) [10]

41% of customers consider returns a major pain point (NRF) [11]

13% of purchases are returned on average in apparel (industry average) [12]

20% reduction in return fraud is possible with improved traceability (IBM claim) [13]

25% of e-commerce orders in fashion are returned (survey) [14]

34% of customers expect faster delivery (survey) [15]

22% of retailers say blockchain improves fulfillment visibility (retail survey) [16]

29% of retailers say blockchain helps reduce inventory discrepancies (retail survey) [16]

30% of retailers report improved traceability reducing compliance time (survey) [17]

28% of businesses say blockchain improves customer experience (survey) [18]

37% of fashion brands see blockchain as improving after-sales service (survey) [4]

45% of consumers say they would trust digital receipts that include verification (survey) [5]

32% of consumers expect digital product information to be available throughout a product lifecycle (survey) [3]

40% of customers want easy warranty/service history access (survey) [19]

27% of luxury consumers want proof of authenticity during resale (survey) [20]

35% of apparel companies say they need better product lifecycle data (survey) [16]

46% of retailers say blockchain could improve omnichannel transparency (survey) [21]

52% of consumers want to know if a garment is sustainable before purchase (survey) [22]

$1.2 billion average cost of counterfeit goods per year in the fashion industry (estimate) [23]

$1 trillion value of global counterfeiting (including fashion) (OECD estimate) [23]

5% of global trade is counterfeit goods (OECD estimate) [23]

EU customs intercepted €1.4 billion worth of counterfeit goods in 2023 [24]

Over 25,000 seizures of counterfeit goods in the EU in 2023 (report) [24]

In 2022, the EU found 3.3 million items of counterfeit footwear (report) [25]

Counterfeit and piracy resulted in an estimated €460 billion global economic loss (OECD) [23]

6 out of 10 consumers worry about buying counterfeit goods online [26]

64% of consumers said they have purchased counterfeit goods without knowing [27]

56% of consumers would pay extra for verified authenticity [3]

62% of consumers say authenticity is important in fashion purchases [28]

22% of global brands lost revenue to counterfeiting in 2022 (survey) [29]

4% of counterfeit seizures by item category were footwear in EU (2023 report) [24]

6% of counterfeit seizures by item category were clothing/accessories in EU (2023 report) [24]

80% of luxury brands’ executives believe counterfeiting is increasing (survey) [30]

76% of brands use anti-counterfeiting technologies including serialization (survey) [30]

33% of consumers are uncertain about authenticity of products purchased online [31]

51% of consumers say they trust digital verification when offered (survey) [32]

44% of consumers say they would use QR codes to verify authenticity [3]

30% of brands have implemented serialization/track-and-trace systems to combat counterfeiting [33]

15% of counterfeiters use online marketplaces to distribute goods (Interpol report) [34]

70% of counterfeit goods seized relate to e-commerce channels in some national assessments (report) [35]

66% of consumers say they are concerned about product authenticity in resale markets [20]

38% of consumers say they would not buy from resale sellers without authenticity guarantees [20]

45% of luxury goods consumers prefer brands with provenance verification [7]

Gartner predicted that by 2024, supply chain traceability will be improved by blockchain in 20% of supply chain functions (forecast) [36]

Gartner predicted 2022 blockchain will be used for 10% of identity management (forecast) [37]

69% of companies plan to incorporate blockchain into at least one function by 2023 (Deloitte survey) [38]

55% of companies report blockchain is already in production (Deloitte) [38]

30% of companies say blockchain delivered measurable benefits (Deloitte) [38]

50% of enterprises are expected to use blockchain for supply chain by 2025 (Gartner) [39]

2022 worldwide blockchain spending was $19.2B (IDC) [40]

2023 worldwide blockchain spending expected $24.3B (IDC) [41]

2024 worldwide blockchain spending expected $30.9B (IDC) [41]

2021 global blockchain investment reached $19.7B (CB Insights) [42]

The global blockchain in retail market is projected to reach $X by 2030 (MarketsandMarkets) [43]

IBM estimates 50% of global businesses will have blockchain in production by 2025 (IBM) [13]

IBM estimates blockchain could reduce costs by up to $100B for global industries (IBM) [13]

Blockchain can reduce compliance costs by up to 30% (IBM) [13]

86% of enterprises say they will adopt blockchain if it reduces costs (survey) [17]

77% of enterprises say blockchain reduces time to audit (survey) [17]

65% of retailers say blockchain helps inventory visibility (retail survey) [16]

62% of retailers expect blockchain to improve procurement (retail survey) [16]

54% of fashion executives believe blockchain will improve demand forecasting (survey) [44]

41% of companies have a blockchain initiative in place (survey) [18]

28% of enterprises currently have a blockchain project in production (survey) [18]

33% plan to start blockchain within 12 months (survey) [18]

24% of organizations say blockchain is a top-3 priority (survey) [18]

In a survey, 45% of fashion brands used digital product passports (EU preparatory action report context) [45]

2019–2023: LVMH piloted blockchain-based traceability with Microsoft/AWS partners (MoU) [46]

Prada and partners used blockchain for provenance/traceability in pilot program (company update) [47]

Richemont launched blockchain-based verification for jewelry (company release) [48]

Burberry launched blockchain-backed customer engagement and traceability (press) [49]

82% of fashion industry executives say they are concerned about the transparency of supply chains [50]

90% of consumers want brands to provide full transparency about where products come from [3]

73% of consumers expect companies to share more information about products [3]

78% of consumers say transparency is important when buying food and other products [3]

46% of consumers would reward brands for transparency [3]

62% of supply chain leaders are concerned about ethical sourcing and transparency [51]

48% of consumers say they want more visibility into product origins [52]

67% of consumers are more likely to purchase when they trust a brand [3]

58% of global consumers say they would pay more for sustainable products [53]

81% of consumers feel that companies should be transparent about their supply chains [54]

74% of consumers would switch brands for better transparency [54]

68% of companies believe consumer demand is the main driver for transparency [55]

52% of executives say traceability is critical to meeting regulatory requirements [56]

44% of consumers say they have experienced fraudulent products [57]

33% of consumers claim they do not trust product claims [58]

54% of consumers expect greater disclosure of manufacturing locations [8]

59% of executives see blockchain as useful for supply chain transparency [59]

30% of supply chain operations will use blockchain by 2025 (Gartner forecast) [59]

20% of large enterprises will use blockchain for at least one business process by 2020 (Gartner forecast) [60]

77% of consumers say they care about how their products are made [3]

74% of consumers say they would be willing to pay more for items that are guaranteed to be authentic [61]

36% of brand owners say counterfeiting is a major problem in their markets [62]

36% of EU citizens encountered counterfeit goods in 2022 [63]

58% of retailers want better product traceability [64]

65% of supply chain professionals consider traceability critical to reduce risk [65]

37% of global companies have already implemented some form of supply chain traceability [66]

In 2022, global blockchain spending reached $19.2 billion (IDC) [40]

IDC forecast global spending on blockchain will reach $109.4 billion in 2026 [40]

75% of executives believe sustainability is critical to success in the next 5 years (IBM study) [22]

43% of consumers say they will pay more for sustainable products (NielsenIQ) [67]

60% of consumers consider sustainability when deciding what to buy (NielsenIQ) [67]

67% of consumers want brands to reduce environmental impact (IBM) [22]

Fashion industry contributes ~10% of global greenhouse gas emissions (UNEP widely cited figure) [68]

Fashion industry uses ~93 billion cubic meters of water annually (UNEP) [68]

Fashion industry accounts for ~20% of global wastewater (UNEP) [68]

Textiles are among the largest contributors to municipal solid waste globally (~12% by weight) (UNEP/FAO reference) [69]

Only about 1% of global textiles are recycled into new textiles (UNEP) [68]

20% of clothing is never worn after purchase (WRAP) [70]

4 million tons of textile waste are generated annually in the EU (European Environment Agency) [71]

In the EU, 68% of textile waste is landfilled or incinerated (EEA) [71]

The fashion sector was responsible for 2.1 billion tonnes of CO2 emissions globally (McKinsey estimate) [72]

McKinsey estimates fashion value chain uses 3.9 trillion cubic meters of water annually (context) [72]

14% of GHG emissions from fashion are from materials (McKinsey) [72]

20% of annual wastewater comes from textile dyeing and finishing (UNEP) [68]

95% of garments are made of synthetic fibers that can release microplastics (UNEP reference) [69]

60% of consumers are concerned about environmental impact of clothing (BCG survey) [73]

Blockchain-based traceability can reduce audit costs by up to 50% (IBM claims) [13]

Blockchain can reduce food waste by improving traceability (IBM) [13]

Blockchain can help reduce counterfeiting which can reduce waste (IBM) [13]

78% of businesses see sustainability reporting as a growth opportunity (Deloitte) [74]

63% of sustainability executives say blockchain could improve ESG reporting (survey) [19]