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French Retailer Carrefour Admits Increased Sales With Blockchain Tracking

More like a compliment, the French retailer Carrefour SA on Monday noted an increment in sales through the application of blockchain ledger technology in tracking certain goods from their production base to stores, an executive reported.

A Reuters report confirmed that the blockchain’s digital tracking technology provides customers with detailed information regarding the standard of products they buy, and possible help to ensure safe consumables. Customers have to scan a product QR barcode either through phone, to access the related product details.

Carrefour is rated among several companies that are integrating the rapidly growing use case of blockchain technology to track products, noting that, consumers now look to see that products meet standards on ethics and general safety, possibly before purchase.

On this note, the retailing company reportedly launched blockchain information for 20 products, which include eggs, chicken, pork, oranges, cheese, and raw milk. Carrefour added it plans to expand the system to 100 more products this year, basically on the sides with high want for reassurance from consumers like organic and baby product.

“You are building a halo effect – ‘If I can trust Carrefour with this chicken, I can also trust Carrefour for their apples or cheese,’” Carrefour blockchain project Manager, Emmanuel Delerm said, adding that, “millennials are buying less but buying better products for their health, for the planet.”

While Carrefour hopes to add non-food lines to the system, it has been experimenting on how to identify products which don’t rely on a QR code. The company admitted particular challenges that need to be addressed in the food line, such as the resistance from farmers to give much information and products sold loose that comes from different farms.

Carrefour worked on the blockchain system together with IBM, which also holds collaboration with several logistics firms, retailers, and growers to secure and track their global supply chains.

 

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