INS – The First global decentralized Ecosystem directly connecting Grocery Manufacturers and Consumers.
INS wants to reinvent the Grocery Industry. Their vision- developing a new blockchain based platform which will help grocery manufacturers to bypass retailers and wholesalers. INS seeks to return power in the grocery ecosystem to where it belongs…between the manufacturers and the customers.
One of the largest global markets
The groceries market is one of the largest consumer markets in the world. Revenues are expected to exceed $8.5 trillion dollars annually by 2020. The online grocery segment is currently experiencing rapid growth, with sales figures to exceed $290 million dollars in the same time frame. U.S. based supermarket chain Kroger continues to hold the title of the world’s largest supermarket chain in terms of annual revenue. The second and third largest supermarket chains are based in Germany and the fourth and fifth largest grocery retailers are based in Australia.
How has the current system hurt consumers?
The current grocery ecosystem has become over-manipulated in many markets. Domination of volume has been overtaken by just a handful of large retailers. These retailers use unfair leverage to skew value away from consumers, rather than negotiating better deals with the manufacturers. For example, a manufacturer may bring a product to market but is faced with the usually new marketing challenges. A healthy model would have this manufacturer reaching out to the consumers. This outreach would include product knowledge, sharing samples and creating trust in their product and brand. Consumers choose whether the product is right for them…and retailers respond to consumer demand by working with the manufacturer to deliver the product. In the failed model, the manufacturers best efforts to work with their consumers might be for naught. Retailers in conjunction with distributors, rather than responding to the consumer, work deals where the promoted products are often those which will yield the highest profit margins, the best bonuses, or have product that needs to me moved. The retailers promote and present what works for their bottom lines, while better values and products are completely omitted.
What about Food Miles?
Food miles represent the distance a particular product must travel, from its source, through distribution and retail, to where it is ultimately purchased or consumed by the end user. The more food miles that attach to a given food, the less sustainable and the less environmentally desirable that food is. INS will help to reduce food miles in target markets.
Reinventing an Ecosystem
INS and the INS grocery platform will enable consumers unimpeded access to local manufacturers and farmers. Eliminating the middle-men and all of the overhead in the supply chain itself, this direct connection of the consumer and suppliers will offer a greater opportunity for fair competition and better value for the consumers bottom line. Further, by reducing inventories and out-of-stocks, food waste can also be decreased.
The core of the ecosystem will be the first decentralized grocery marketplace where consumers can buy products directly from manufacturers. This will enable transparent prices for consumer products, and give manufacturers the ability to interact with consumer directly, and compete for their business. The savings derived from eliminating the cost of promotions can be passed on directly to the consumers. The concept has received strong interest from manufacturers small and large with brands such as UniLever amongst them.
Is INS up for the task?
Disrupting the grocery industry will be no small task, and experience as well as innovative thinking is key to propelling such a vision with success. To this end, the INS founders successfully created and operated InstaMart,, an online grocery retail in Russia, in 2013. The knowledge and relationships with manufacturers, as well as the the feedback from the customers themselves, have helped in shaping what such a disruption would need to look like.
Joining in the disruption
The INS whitepaper details a very well thought out, and well designed ecosystem, pinpointing all of the participants and how they will operate with each other. We are also show the advantages that blockchain brings to this model and how the transparency will help to regrow trust in theses markets.
The INS token sale is now open. The will be only 50 million tokens created and 60% of those will be offered to participants in the token sale. We are excited to see these types of new disruptive business models come in to the space.
Checkout out our full interview with INS CEO Peter Fedchenkov:
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