Retail giant Carrefour boosts sales with blockchain technology
The French retail giant Carrefour attributes the recent increase in sales to the application of blockchain tracking.
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According to Coindesk, Emmanuel Delerm, the blockchain project manager at Carrefour, stated that the company has increased sales of meat, milk, and fruits by using blockchain technology to track products from farms to supermarkets.
Delerm mentioned that blockchain tracking has been particularly successful in China, where shoppers are more accustomed to scanning QR codes. The technology has also proven to be popular in Italy and France. Previous studies have indicated that consumers are willing to spend up to 90 seconds reading product information.
Through the blockchain tracking technology built on IBM Blockchain - IBM Food Trust, customers can scan QR barcodes on products with their phones to access information such as harvest date, farm location and owner, packaging date, transportation time, and more. Additionally, as reported previously, Walmart has also joined the IBM Food Trust project.
Delerm stated:
Thanks to blockchain, the sales speed of grapefruits is much faster than the previous year, and our chicken has had a positive impact on meats that do not have blockchain tracking. This technology is like adding a halo to the product, which means if consumers think they can trust one Carrefour product, they will also trust other products.
Reportedly, Carrefour initially introduced blockchain information for 20 products, including chicken, eggs, milk, oranges, pork, and cheese. Now, the retailer plans to add over 100 more products to the system, especially focusing on products that need to reassure consumers, such as baby products and organic products. Delerm also mentioned:
There are still many challenges with blockchain tracking technology, especially when tracking fruits and vegetables that are sold loosely and come from multiple farms. Additionally, some farmers are unwilling to share too much information.
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