Blockchain - Coronavirus (COVID-19) Case Study

Blockchain - Coronavirus (COVID-19) Case Study

Summary

This report is part of the GlobalData COVID-19 Case Study series, which analyzes specific examples of consumer sentiment, lifestyles, attitudes, and behaviors stemming from the global coronavirus outbreak. It identifies key strategies for using blockchain in FMCG, retail, and foodservice during lockdown.

During COVID-19, brands in FMCG, retail, and foodservice have applied strategies to become more blockchain-compliant and increase transparency to ensure consumer trust.

Manufacturers are setting blockchain project objectives to leverage positive perceptions of sustainability, supply chain management, provenance, and packaging.

Scope

• Best-practice examples prove that blockchain is most effective if manufacturers test the strategy on one product category only before applying it to others.
• Blockchain requires clear on-pack communication as this remains a new concept to consumers (e.g. showing the benefits of scanning a QR code to prove product authenticity).

• Understand specific examples of consumer trends and company responses in order to tap into what is really impacting the industry.
• Gain a broader appreciation of the fast-moving consumer goods industry by gaining insights from both within and outside of your sector.
• Access valuable strategic take-outs to help direct future decision-making and inform new product development.