Retail

Since the inception of online retail and the rise of giants like amazon and aliexpress the retail industry, one of the oldest industries known to mankind, has not been the same anymore. Sales volumes have grown drastically, and consumption ramps up from developing countries.

Advantages

This development brings obvious challenges with it: a greater variety of products, in greater numbers and shorter timeframes at the cheapest possible prices. Supply chains and their managers are under high pressure to ensure the competitiveness on global markets, however current network technologies are no up to the task. The current systems leave a lot to be desired in the areas of traceability, fraud protection and quality assurance capabilities. By implementing distributed ledger technologies all authorized parties within the supply chain have the ability leave an unalterable entry in the blockchain.

Examples

This data can be used to ensure only previously approved parties are part of the supply chain, to find inefficiencies and fraudulent behaviors and to make this information directly accessible to customers who value transparency and CSR. However, the advantages and use cases of Blockchain in the retail industry go beyond the supply chain. The technology rids retail companies of many burdens that are related to customer loyalty programs, warranties and service systems. Costly and unwieldy data storage facilities could be exchanged for distributed blockchain networks that contain traceable and searchable entries about every product’s sales date and location for easy verification of the warranty status. While customers are longer limited to using their loyalty cards within the borders of their country all the while not having to worry about their data privacy.

Need Advice?

Our team will be happy to answer any questions with regards to your business idea, technology, project scope or potential quotes. We are here to help you.

Schedule a free consultation

Telephone

+48 61 624 86 92

Find us in europe

14/5 Woźna Street 61-777
Poznan, Poland

Find us in the middle-east

King Abdulaziz St – Alyasmin District, Aidra Path 6186, Riyadh 2853-13322, Saudi Arabia

Privacy Policy

1 + 15 =