JD Blockchain traceability data is disclosed for the first time! Traceable product sales increase by nearly 30%

In recent years, with the maturity of technology, the application of blockchain in the real economy has become more and more widespread. Among the many blockchain applications, anti-counterfeiting traceability is considered to be one of the most promising landing scenarios, and it is also one of the important blockchain domains competed by technology giants.

This afternoon (March 31), JD.com cooperated with the China-Europe-Pros Supply Chain and Service Innovation Center to officially hold the "2020 Blockchain Traceability Service Innovation and Application Report" online press conference .

It is understood that the report takes Jingdong Zhizhen Chain as an example, researches the application effect of blockchain technology in the field of traceability, analyzes the factors affecting brand owners' use of blockchain traceability services, and makes a number of suggestions for this.

1

The JD blockchain anti-counterfeiting traceability platform was officially launched on June 8, 2017. On August 17, 2018, the technology brand of "JD.com Zhizhen Chain" was identified. On November 19, 2019, the JD blockchain 2020 strategy was announced-"from Trusted supply chain to digital financial innovation. "

As of the end of December 2019, there have been more than 800 cooperative brand companies on the Zhizhen Chain anti-counterfeiting traceability platform, more than 70,000 products have been settled, more than 6.5 million after-sale user visits and inquiries, and more than 1.3 billion traceability data have been dropped, covering fresh agriculture , Maternal and child, alcohol, beauty, second-hand goods, luxury goods, cross-border goods, medicine, supermarkets and convenience stores and other business scenarios.

The report investigates and studies the eight brands that Zhizhen Chain's anti-counterfeiting traceability platform services provide through field visits and telephone interviews, and analyzes the impact of blockchain traceability services on brand owners.

The report pointed out that at present, the traceability of blockchain is still in its infancy . Many brands, especially traditional companies, have a good willingness to cooperate, but they are still in the "decisive" wait-and-see stage for the final adoption of their services.

Due to the different timing of the adoption of blockchain anti-counterfeiting traceability services and the different endowments of their own resources, the difficulties and challenges they face in the process of deploying a service platform are different.

Among them, problems such as difficulty in system docking, high cost of manual coding, and high cost of manual maintenance information are the most frequently reported feedback from brands. Such enterprises are mainly domestic production enterprises, and the high cost has become the most important obstacle preventing them from adopting services.

Despite obstacles, the market is not short of "the first person to eat crabs." The survey found that there are many reasons for driving brand owners to adopt blockchain traceability services.

In addition to JD's own brand effect, brand owners hope to cooperate with the platform to show consumers the company's product production process and comprehensive guarantee system in an all-round way, and pass the brand's authenticity and quality awareness to consumers, so as to establish the brand's Image. At the same time, through cooperation with JD.com, brands can reach consumers more accurately, and achieve better interaction and service between brands and consumers.

2

In addition to qualitative research , the research team also conducted quantitative research on feedback from brand owners .

The report selects four categories of mother and infant milk powder, beauty skin care, fresh seafood and nutrition and health care, and tracks the traceability effect of 495 SKUs (a unique identifier for each product and service) in 120 brands. The variables include: product sales And customer purchasing behavior indicators (visits, additional purchases, repurchase rates, return rates, etc.).

Data analysis shows that after the brand launched the blockchain anti-counterfeit traceability, the sales of nutritional health care and mother and infant milk powder products increased by 29.40% and 10.0%, respectively . Brand repurchase rates have increased relative to 47.5%, 44.8%, 6.8% and 5.2%, respectively. It is worth mentioning that, for the Haisheng fresh products, while the traceability service was launched, the sales volume of the help products of Clairvoyance Video increased by 77.4%. As shown below,

WX20200331-143213

The report also pointed out that the retrospective information of different nodes has significant differences in the promotion effect of consumer repurchase. Specifically,

The retrospective information display of any information node in the factory, origin logistics, quality inspection and order logistics can improve the relative repurchase rate of mother and infant milk powder consumers.

For marine fresh and beauty skin care products, the traceability of origin logistics information can significantly increase the relative repurchase rate.

For nutritional health products, although the blockchain anti-counterfeiting traceability service is launched, the brand repurchase rate can be generally improved, but the different traceback node information will not significantly affect the effect of achieving traceback.

3

The report concludes that after launching the blockchain anti-counterfeit traceability service, brand traffic has continued to increase, and customized brand equity promotion has established consumer awareness of the quality of traceable products, improved brand image, and better Establish channels for connecting and interacting with consumers to provide consumers with more accurate and high-quality services. What follows is an increase in customer satisfaction and an increase in product sales .

In response to the current status of blockchain tracing, Zhao Xiande, director of the China Europe International Business School-Propolis Supply Chain and Service Innovation Center, made three suggestions to the government at the press conference:

1. Establish a food safety alliance chain that serves the country and the regulatory agencies join, unifies the content and standards of the chain, and establishes a universal digital credit system based on data coordination;

2. Improve the establishment of relevant systems for anti-counterfeiting and traceability, such as establishing market access systems for more products with manufacturers, e-commerce platforms, and physical retailers to form a long-term supervision mechanism;

3. Encourage the integration of blockchain and other digital technologies, as well as innovative services based on multi-technology integration , to better promote the digital transformation of China's supply chain. At the end of the conference, Cao Peng, vice president of JD.com and vice president of JD.com said,

The retail supply chain is the earliest application area of ​​the JD blockchain. It has accumulated rich practices and gradually iterated out more application scenarios. In the future, JD.COM will take "chain · AI" as a major development direction in the future, and continue to promote the application of "blockchain + AI" in the supply chain traceability and digital finance fields to promote the digitalization of the industry.

Click to download: "2020 Blockchain Traceability Service Innovation and Application Report"