Using VeChain technology, YongPu Coffee will be able to introduce new ways to manage consumer goods and sales channels. The Chinese coffee market is currently worth about $14 bln. However, experts predict that the market will grow to more than $140 bln in the next three years. In 2022, growth of 27.2% is expected compared to the previous year.
The recent boom in China’s coffee industry has led to an increase in market size. It also led to the emergence and rapid development of new coffee brands. Many new consumer brands have found they need effective supply chain management to ensure quality and reduce costs. YongPu founder Tiepi says that the foundation of any consumer brand is quality products and a reliable supply chain.
Tiepi added that the coffee brand is using VeChain blockchain technology to further improve the supply chain and strengthen the management of online and offline sales channels. He also explained that the company will process the data it collects at various stages of production using the VeChain blockchain technology. All aspects of the production cycle will be integrated. The stages in which the company collects data include the sourcing and processing of raw materials, warehousing, distribution, logistics, transportation, market inspection, shipping, and delivery to end users.