How NFC Can Help Luxury Brands Grow Their Business

With more than 80 percent of market growth during the past several years fueled by a new generation of consumers, the luxury-goods industry is facing a generational shift. A growing number of shoppers are now buying online, and this trend is expected to increase in the coming years. The growth of online sales offers multiple business opportunities, but it also brings about more counterfeiting, which can lead to sales losses, decrease consumer trust and negatively impact brand reputation. To ensure a competitive edge and long-term market growth, STMicroelectronics explains how luxury brands need to adapt their strategy by focusing more on digitalization. (6 pages)

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