China’s premium olive oil market driven by consumers craving transparency and health

20 Aug 2021 --- An increasing demographic of health-conscious Chinese consumers is propelling growth in the nation’s premium olive oil market, according to local brand Olive Times. Based in the Gansu Province, an olive production region in China, the company has launched an ultra-premium extra virgin olive oil, Special-Olive.

To ensure the authenticity of origin and freshness of its product, Olive Times is working closely with VeChain to roll-out traceability across itsentire Special-Olive product line using VeChain’s Blockchain-as-a-Service (BaaS) platform.

The platform allows the brand to communicate with consumers through a QR code or near-field communication (NFC) tag.

“Using VeChain's flexible and cost-effective technology, everything about our product can be conveyed unalterably, offering a real-time, trustworthy window into our operations for loyal customers and consumers alike,” remarks co-founder and CEO of Olive Times, Jane Gong.

Blockchain-enabled oversight of key production stages
Timeliness and freshness have always been the essence of the finest extra virgin olive oils, the company notes.

To be labeled as extra virgin, olives must be pressed, and oils extracted within 24 to 72 hours of harvesting.

To be labeled as extra virgin, olives must be pressed, and oils extracted within 24 to 72 hours of harvesting.VeChain’s combination of blockchain and data quality services allow the brand to upload data at key stages of production – including the crushing and extraction, quality certification and acidity data – onto the VeChainThor public blockchain.

Attributes such as how the olives are picked manually, engagements with the farmers, energy usage and carbon emissions data can be recorded. This enables brand engagement in entirely new ways and allows consumers to choose brands in line with their personal preferences.

Storytelling as a key branding strategy
Manufacturers are increasingly focusing on ingredient provenance and brand storytelling platforms in order to emphasize the taste and quality of their products, as well as their uniqueness and sustainability efforts.

Innova Market Insights highlights that provenance platforms can communicate a range of messages to the consumer, including taste, processing methods, cultural and traditional backgrounds, as well as the geographical origin.

Last year, the market researcher pegged “Storytelling: Winning with Words” as its Top Trend for F&B product development and branding.

Serving as a medium of both data security and transparency, blockchain allows brands to convey stories that are critical for helping them tap into emerging and ethically conscious markets.

“Using blockchain technology to turbocharge your marketing strategy is a new and effective method of brand-building.” says Olive Times’ chief marketing officer, Yvette Xia. “Consumers want to consume in ways that address dietary concerns, but they aren't willing to do it blindly.”

“The transparency unlocked for food manufacturers using public blockchain helps them demonstrate that their products are formulated with an eye towards best quality. VeChain's off-the-shelf blockchain platform is the most ideal and cost-effective solution to rapidly generate new brand engagement.”

By Benjamin Ferrer