2019 will see the rise of do-gooder goods, according to Manu Tyagi, Associate Partner for Retail and Consumer Goods at Infosys Consulting. And blockchain technology will have a key role to play.
“Iceland’s palm oil advert has thrown up more than just retweets, leading consumers across the UK to become much more aware of environmental and food safety issues,” he comments.
Also of interest: Blockchain key to future of retail, Hitachi Capital Consumer Finance
Shoppers now demand greater accountability from supermarket chains. “Pushing own-brand products means that retailers have much greater control over their supply chains, so it’s no wonder companies like Iceland are prioritising them – and we can expect to see big spending on their promotion.”
“As consumers become increasingly aware of their shopping’s impact on the environment, we will also see grocers and other retailers make even greater efforts to improve their sustainability and ‘traceability’ of their products, including efforts to incorporate technologies such as blockchain and product lifecycle management, which assure customers of their products’ provenance. Expect to see blockchain in retail hitting the headlines in 2019,” Tyagi concludes.