VeChain

SOLUTION

Retail Solution

For Manufacturers of High-value Retail Products and FMCG

VeChain uses blockchain and Smart Tag(NFC/RFID/QR Code) to implement the traceability of retail products’ entire lifecycle management. End consumers can check and verify a product’s information via the VeChain Pro mobile app (or client-integrated SDK). The retail solution can also contribute to effective channel management, after-sales service, and convenient financial services such as insurance for high value goods.

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Difficult to achieve traceability and anti-counterfeiting

Products today can be easily counterfeited, and the methods adopted for anti-counterfeiting are far from being effective, thus making it impossible for consumers to identify the authentic ones from the fake.

Production Management Issues

It is hard for brands to manage production quantity since production is done by third-party suppliers, and they might have to sustain the losses caused by overproduction.

Refunding, Returning and Exchanging Risks

It is difficult for sellers to check the products’ authenticity when customers return or exchange the products, and they may receive counterfeit goods upon return.

Channel Management Issues

It’s impossible for brand holders to monitor all the channels, thereby leaving room for channel conflict and the proliferation of counterfeit goods.

Financial Services Issues

When a product is sold, there is no effective way to keep track of its usage and maintenance, limiting options for financial service providers such as when they provide mortgage or insurance services for high-value goods.

VECHAIN

Solution Overview

Based on the product’s nature and the consumers' requirements for anti-counterfeiting, high-value products are embedded with RFID/NFC chips or tagged with QR codes during production and allocated a unique VeChain ID to keep track of the product’s entire lifecycle and record core data.
The data of each stage will be verified by DNV GL, an independent third-party, and uploaded and stored on the blockchain to ensure its authenticity and immutability, and to build trust between the upstream and downstream companies, the businesses, and the customers.

By scanning the chips or QR codes through the VeChain Pro App, consumers can trace and verify the products, thus increasing their confidence in the product. In the meantime, they can also interact with other sellers or consumers through the app, which will help increase consumer stickiness.
When a product is returned, the seller can scan the chip or QR code to obtain the product’s sales information and complete the returning process swiftly.
As for financial service providers, by scanning the chips, they can obtain the ownership confirmation records, verification records, transaction records, etc., and use the information for evaluation, mortgage, auction and other services.

ADVANTAGES

Anti-counterfeiting

By leveraging blockchain, IoT and independent third-party verification provided by DNV GL, we can provide higher level anti-counterfeiting services.

Precise Production Management

Each product is assigned a unique ID, and the quantity of the chips is controlled by the brand holder to avoid overproduction.

Effective Customer Interaction

Brands can interact easily and effectively with their customers and achieve precise marketing through the user image generated from the immutable data on the VeChainThor blockchain.

Channel Management

Based on the core data of consumer interaction stored on the VeChainThor blockchain, brands are able to recognize whether there are channel conflicts.

Corporate Social Responsibility

When brands integrate recycling or green production into their existing production, the related data will be stored on the VeChainThor blockchain and used as a valid proof, allowing DNV GL to issue CSR certificates accordingly.