Published on March 3, 2014
March 2014 Business Overview
The Need “1,127 people die in Bangladesh garment factory collapse.” Reuters, May 2013 “50,000 tons of meat sold as beef found to contain horse DNA.” BBC, April 2013 More shoppers than ever care about the origins of things.
The Opportunity Every product has a story. A journey of people, places and raw materials.
The Opportunity Revealing the stories behind great products can increase sales. For example: Fish suppliers John West revealed the name and picture of the boat used to catch the fish and increased sales by £17m. There are 10 million ethical shoppers that primarily shop online in the UK. 66 per cent of global shoppers prefer products from companies with “programs designed to give back to society”. ABC1 shoppers in the UK alone who self-identify as ethical shoppers, and primarily shop online (source: Touchpoints 2013). The ethical market grew 39% from 2007-2011. Predicted sales growth of 40% between 2012-2016, with the market reaching a value of £76 billion. The e-commerce market in general in the UK has seen high sustained growth of 20% year on year. Clothing is up 18% year-to-date, compared to 11% at the same time last year and the highest average spend in 3 years. Home and garden online sales grew 62% this year (2013) compared to last year (source: Nielson Report 2012).
The Opportunity Yet when we shop every product page looks exactly the same... There could be a story here!
The Opportunity What if price and colour weren’t our only metrics to explore products?
The Opportunity What if marks and accreditations were in a context where they meant something?
The Opportunity Imagine if all product supply chains were turned into sharable stories...
Presenting Provenance Provenance is the opportunity for makers of great things to be open about the places, processes and materials that make their products great.
Presenting Provenance Share more about the things you make. Know more about the things you buy.
The Provenance platform Using Provenance it’s simple for makers to add products and open up information using our online tools in three simple sections: Made In Locations: Making, materials and business addresses Made Of Materials, accreditations, certifications and processes Made By Maker stories, company information, employees
Shoppers can explore products by where they are made
Discover the true stories behind the things
How our business model works Businesses can tell their story using our tools on their own digital channels and on Provenance. We generate revenue through a tiered software as a service offering: A community of makers All makers can join Provenance for free. Small-scale makers can upgrade to use our subscription website plugins. Bespoke visual storytelling Medium sized makers can use Provenance e-commerce apps to power unique product stories on their own websites. Transparency across all digital channels For larger brands the Provenance platform can be licensed for full product transparency management.
Now and next "Transparency is one of the most powerful communication tools available for contemporary brands." Tim Pitts, Managing Partner, trendwatching.com Provenance was featured in The Telegraph’s “Ten Amazing Tech Innovations Coming Up in 2014.” We had 10,000 unique visitors to our 8 week old website and are now developing the beta version with a selected 150 pioneering local makers.
The future “You empower people through transparency” Lily Cole, founder of impossible.com and a Provenance advisor We aim to deliver meaningful change to commerce, both near and far, through open and accessible information about products and their makers. We believe one day everything for sale will come with a true story about the people, places and materials that led to its creation.
Say hello to the team on firstname.lastname@example.org we would love to hear from you. www.provenance.it
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