This growth in this industry is hampered by a lack of proper supplier channel maintenance. In actuality, the payment process for shipping, including verification and processing, takes a long time. On the other hand, this lengthy process may deter many providers from delivering within the given time frame. As a result, it may result in significant losses for retailers. Smart contract development, on the other hand, is one of the best aspects of blockchain in retail use cases.
Loyalty programs can also benefit from blockchain. Many retail companies now have loyalty programs in place that allow them to interact with a much larger audience while also keeping their existing customers happy with their products. However, loyalty systems have inefficiencies as well. Most of the time, they have inconsistencies in their policies that prevent customers from receiving reward points.
With increased globalization and intense competition in the market, food supply chains have become longer and more complex than ever before. There are some common problems in food supply chains such as food traceability, food safety and quality, food trust and supply chain inefficiency, which add additional risks on the entire society, economy and the health of human.