INS has the prerequisites to perform an ambitious task of disrupting the grocery industry based on our deep industry knowledge and confirmed interest from the largest grocery manufacturers in the world. A scalable blockchain-based platform that enables consumers to buy groceries directly from manufacturers at lower prices, with convenience. The INS ecosystem has been validated by consumer interest and has received strong support from manufacturers.The team has developed the roadmap to execute on this vision.
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Exerting buyer power is natural when not abused
It is understandable that any industry participant would seek bigger volumes as a tool for negotiating better prices. But retailers push the limits of what is fair. Grocery retailers are perpetually and aggressively extracting better terms from already squeezed manufacturers, going far beyond the benefits a player should receive for attaining economies of scale.
Large or small, no manufacturer has enough power
Global constituents, such as Procter & Gamble, Nestle, and Unilever, do play a role in the industry and have more negotiating power than small manufacturers. Still, these companies simply are no match for the extensive control retailers have on end-customers throughout the supply chain. For example, Wal-Mart’s sales are approximately 5 times greater than those of its largest supplier, Procter & Gamble. Wal-Mart accounted for 16% of Procter & Gamble sales in 2016.
Retailer buyer abuse extends beyond normal pressure
The explanation of this pressure is abuse of buyer power. Such power allows retailers to determine what will and will not be stocked, and on what terms, such as sources, quantity, quality, delivery schedules, packaging, returns policy, and above all, price and payment conditions. Indeed, a supermarket company wields an important bargaining chip, namely the threat to stop selling one or more products.
Demand & Supply Drivers
Consumers are becoming increasingly time-starved. The rapid growth in online grocery retail can be attributed to various factors such as demographic profile of consumers, number of working women, good internet connectivity, rising usage of smartphones, convenience, etc. Traditional in-store buying of grocery is becoming more cumbersome given the fast pace of lives, especially in urban areas. Moreover, buyers are overcoming the biases of wanting to touch and see food and grocery products before buying. Consumers, pressed for time, are looking for options which offer increased convenience and save time. Online grocery buying offers exactly that and hence is gaining popularity across consumer segments.
Manufacturers are companies or individuals in the business of fresh produce, groceries and consumable household items. They could range from local farmers to large multinationals, such as Procter & Gamble, Unilever, Coca-Cola, etc.
Manufacturer roles include:
● Publish products
● Deliver products ordered by consumers to fulfillment centers
● Promote the INS ecosystem by bringing traffic via promotions of derived apps
Blockchain is a shared-database technology, mostly popular for underpinning bitcoin digital currency. It works with linked databases that update digital ledgers unceasingly. Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. The code and the agreements contained therein exist across a distributed, decentralized blockchain network. Smart contracts permit trusted transactions and agreements to be carried out among disparate, anonymous parties without the need for a central authority, legal system, or external enforcement mechanism. They render transactions traceable, transparent, and irreversible.
Dmitry Zhulin – CO-FOUNDER & STRATEGY
Dmitry Khovratovich – BLOCKCHAIN & SMART CONTRACTS
Maria Lapuk – PR
Michael Schmidt – US EXPANSION
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[su_quote]Quote This article is writing on 1 Oct 2018 based on information available online & news portal. If you feel it’s outdated or incorrect, please write here to update it. Mail us: [email protected] Or Whatsapp Us- +13098896258[su_quote]
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