Why Shopify Stores Need the Blockchain
Counterfeit products are everywhere. They plague brick and mortar businesses and even haunt e-commerce platforms such as Shopify, Amazon, and eBay. Due to its widespread and rampant production, online retailers of authentic products have reported considerable drops in sales. From fake makeup products to N95 masks, counterfeiters will go to great lengths to earn a profit.
Aside from being a form of consumer fraud, product counterfeiting affects a brand’s reputation. It impacts the sales of authentic products by undercutting prices and destroying the trust of consumers and business partners. Furthermore, genuine brands have to deal with the fallout of counterfeits.
Now, this problem begs the question: what should brands do?
Fortunately, blockchain technology has the perfect solution.
How Blockchain Can Secure Your Shopify Store
Blockchain is a decentralized system of recording information. According to Euromoney, blockchain is a digital ledger of transactions duplicated and distributed across the entire network of computer systems on the blockchain. Once information is validated and recorded on the system, it is immutable, meaning it can never be changed.
As a distributed ledger technology (DLT), blockchain provides excellent security for online database platforms. For Shopify sellers, this technology enables them to leverage a universal consumer protection protocol that will work across multiple distribution channels like Walmart, Target, or Aldi providing a single source of truth.
Shopify sellers will be able to track their products and ensure that they do not end up in fraudulent distribution channels like unauthorized 3rd-party resellers. Since there is no centralized control of data, product information cannot be cheated, and there is a record of accountability.
For the customers, blockchain gives the assurance of transparency. It allows them to verify the product’s origin and guarantee its quality.
Leveraging this technology, Real Items takes it a step further for store owners and consumers with easy to use cloud applications. Real Items built a Shopify plugin that lets a seller add their goods to the blockchain and allows customers to verify the product’s authenticity with any smartphone’s stock camera.
Consumer Protection 3.0
Known as Consumer Protection 3.0 (CP3), Real Items’ application is aimed to create a global consumer protection experience that is easy to use and always accessible. CP3 also gives consumers the tool they need to avoid counterfeits without having to download anything.
Each Real Items verified product in the Shopify store is placed with a unique smart label that a consumer can scan using a smartphone’s stock camera iOS or Android. With this, consumers take an active role in checking for a product’s authenticity. By allowing them to participate in the verification process, brands will be able to gain consumer trust.
Moreover, this process provides direct communication to consumers. Shopify stores that leverage Real Items blockchain technology will be more direct with consumers in every vertical that drives retention and engagement.
Credentials can always be duplicated but Real Items’ cannot be copied. Hence, it leaves no room for counterfeits. No matter if your brand was recently launched, or it has been around for a few years, your intellectual property is guaranteed safe.
With Real Items technology, authenticity will no longer be an option- it will be the norm.
For Shopify sellers interested in adopting Real Items blockchain technology, contact us here.