INS has emerged as a new player in the blockchain space seeking to disrupt the grocery retail industry by creating a manufacturer-to-consumer platform, removing intermediaries and burdensome costs. By leveraging blockchain technology — a transparent, immutable ledger globally available — manufacturers will better meet the needs of consumers and consumers will have more options.
In recent decades, the grocery retail business has consolidated with just a few major players taking a large proportion of the market, giving them more leverage in their relationships with both manufacturers and consumers. As a result, up to 17 percent of advertising costs among manufacturers are directed toward retailers rather than consumers, given how critical product placement is for the very survival of manufacturers. With such a small number of big players deciding which products to promote, consumers have less of their needs and wants fulfilled since they will never have gotten the variety or options from which to choose.
In contrast to this retailer-centric model, INS will create a user-friendly online platform allowing consumers to bypass these retailers and purchase directly from manufacturers. Manufacturers will be able to offer consumers previously unavailable to them due to objections from traditional retailers, thereby meeting their wants and needs, and creating a better experience overall for consumers. Importantly, since grocery retailers will be bypassed, both manufacturers and consumers will save a significant amount of money using the blockchain. According to INS, traditional grocery retailers raise prices on products between 30 and 50 percent. Potentially, consumers will save between 20 and 30 percent using INS.
By selling directly to consumers, manufacturers will receive constant feedback from consumers in order to offer them a better experience while shopping. Manufacturers will also be able to offer loyalty programs on the platform, thus rewarding consumers who repeatedly purchase their products. The INS token will serve as a global currency that can be used by both manufacturers and consumers for use on the INS platform, adding extra convenience.
Keenly aware of the benefits of blockchain technology, hundreds of manufacturers large and small have approached INS with interest in participating in its platform. Among the companies that have expressed interest are Unilever, Reckitt Benckiser, Borjomi, Friesland Campina, and Valio. With the INS team’s extensive experience in the retail industry, strong relationships with manufacturers have already been established, thus making the transition to blockchain much easier.
Currently, INS is having a crowdsale that ends December 11, 2017. During this crowdsale, 300 INS tokens will be offered for one Ether (ETH), with bonuses added depending on how early the tokens are purchased. A hard cap of 60,000 ETH has been set, and this cap has thus far almost been met. The INS token is ERC20 compatible and can be stored in popular Ethereum wallets such as MyEtherWallet and Mist.
Potentially, the INS platform will disrupt the grocery retail industry the way Uber disrupted the taxi cab industry. Once against we are seeing the gradual elimination of intermediaries in a major industry, giving consumers more choice and potentially bringing extra stimulus to the global economy. As a first-mover in the space, INS is poised to capture a very large market share in online grocery retail, potentially benefiting investors brave enough to purchase INS tokens in the long run.
*I am receiving INS tokens for the growth of the community.
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