Challenges faced by the retail industry

Dispersed omnichannel retail
Dispersed omnichannel retail

According to Harvard Business Review, 73% of US consumers use more than one channel when deciding on a purchase, and retail businesses struggle to track and serve them all.

Internal process inefficiency
Internal process inefficiency

Retail supply chains, reporting, stock management, and administration processes lack visibility, especially when they’re siloed or rely on static record-keeping.

Fraud risks
Fraud risks

Deloitte estimates the global market in counterfeit goods at $340bn. Fakes across supply chains undermine consumer trust and affect sales directly.

Product provenance requests
Product provenance requests

Consumers wish to know more about the products they buy: where and how they’re made, by whom, all factored into purchase and brand loyalty decisions.

Regulatory compliance issues
Regulatory compliance issues

Current logistics, administration, and POS tools make it difficult for retailers to comply with regulations, including consumer protection, data privacy, and financial issues.

Complex payments processing
Complex payments processing

Processing multi-currency, cross-border payments from an international customer base can create difficulties for retailers, requiring complex backend tools.

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Blockchain solutions for retail from Aetsoft

Supply chain and administration

Manage disparate supply chains, tracking goods at each point of transportation. Collect cross-organization administration data with smart contracts automating exchange and analysis.

Omnichannel
customer view

Automatically collect customer data across points of purchase, securely store it, and track shopping and purchase activities to personalize offerings for each customer.

Product verification

Use RFID, barcode, or QR tracking through blockchain to verify each item. Track components through supply chains and demonstrate your ethical, environmental, and regulatory credentials.

Regulatory compliance

Demonstrate compliance with product, data, consumer, and financial regulations across jurisdictions, with transparent audit trails and cryptographic encryption inherent in blockchain.

Participation and privacy

Protect customer data with modular encryption on the blockchain and set up conditional messaging with smart contracts to maximize marketing efficacy.

Payments and delivery

Use blockchain to process payments through blockchain-enabled digital assets to make transactions faster and more secure.

Blockchain applications in retail

Customer loyalty

Use case 1. Boosting customer loyalty

Currently

With customers’ transactional data dispersed across loyalty programs, retail brands have to continuously collect those, risking to miss something and not properly reward customers.

With blockchain

Access data from various loyalty activities from a distributed blockchain database, with information about all transactions stored in a single digital wallet.

improve processes with Blockchain
Logistical efficiency

Use case 2. Increasing logistical efficiency

Currently

Opaque, practically non-traceable supply chains put retailers at risk of distributing counterfeit or damaged products that might affect their reputation along with customer confidence and trust.

With blockchain

Trace condition and provenance data throughout logistics processes, viewing those in real-time, at every step of transportation, up to retailing itself.

improve processes with Blockchain
Consumer privacy

Use case 3. Protecting consumer privacy

Currently

Consumer data, such as bank details, health records, or purchase histories, are distributed among siloed, weakly-protected databases, often making hacks a no-brainer.

With blockchain

Put sensitive information onto a single blockchain database, to ensure quick and safe access to immutable insights driving your analytics and marketing decisions.

improve processes with Blockchain

Explore our solutions for:

IoT
Supply chain
Healthcare
Real estate
Agriculture
Advertising
Automotive
Logistics
Legal
Insurance
Cannabis
Fintech
Education
Cybersecurity
Crowdfunding
HR
Retail
Charity
Pharma
Travel
Energy
KYC
Loyalty programs
Voting systems

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