Global Retail Alliance
info@gra.world
  • Login
  • Register
  • Newsletter
  • Virtual Library
  • Choose your country
    • Australia
    • Brazil
    • China
    • Poland
    • Latin America
    • Middle East
GRAGRA
  • Home
  • Membership
    • Silver
    • Gold
    • Platinum
  • Event
  • News
  • Retail Tour
    • Our Tours
    • Europe Retail Tour
    • Retail Tour – New York
    • Retail Tour – Düsseldorf
  • Contact
  • Home
  • Membership
    • Silver
    • Gold
    • Platinum
  • Event
  • News
  • Retail Tour
    • Our Tours
    • Europe Retail Tour
    • Retail Tour – New York
    • Retail Tour – Düsseldorf
  • Contact

Green

  • Home
  • Green
  • Dynamic pricing system promises less food waste

Dynamic pricing system promises less food waste

  • Categories Green
  • Date August 9, 2017
  • Comments 0 comment

According to the United States Department of Agriculture, around 133 billion pounds of food is wasted in the U.S. each year, with around 10 percent of that occurring at the grocery store. Efforts to tackle this waste mountain have previously seen the sale of ‘imperfect’ fruit by a major grocery chain, and delivery trucks powered by biofuel produced from food waste. Now, a new technology company is proposing an ‘Internet of Groceries’ that can help prevent food waste. Wasteless is a real-time tracking solution for grocery stores, which allows stores to offer variable pricing to customers based on a product’s expiration date.

The Wasteless platform combines radio frequency identification (RFID), a dynamic pricing engine (which considers more than 40 separate factors when calculating price), and electronic shelf labeling. The system allows stores to automatically change prices on any item, in order to offer customers a chance to buy products close to their expiration date for a reduced price. The system will also alert stores to when a product is about to run out, allowing just in time stock ordering that reduced the time products sit on shelves. Explains Wasteless founder and COO Ben Biron, “Dynamic pricing is something used daily when booking a flight, a hotel, or an Uber, and there is no reason why our groceries should be different … [this] means lower prices for the consumer, more revenue for the supermarket, and of course, it saves our planet by significantly reducing food waste at the retail level, which accounts for 40 percent of the world’s total food waste.”

Wasteless promises to bring supermarkets more into the digital era and also offers customers more choice in products and in what they pay. What other industries might benefit from a dynamic pricing system?

Source: Springwise

  • Share:
gsiino

Previous post

Twin Cities' seventh Hy-Vee store opens in Cottage Grove
August 9, 2017

Next post

Lululemon Opened an Area for 'Mindfulosophy' Within Its NYC Store
August 10, 2017

You may also like

the-co-op
Central Co-op – creating a sustainable society
17 August, 2023
france-pay-clothes
France will pay you to repair your clothes
13 July, 2023
sustainability-robot
These companies say they’re using robots to offer retailers cheaper and more sustainable delivery
7 February, 2023

Leave A Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search News:

News category:

News Archive:

Last News:

First look: Inside Ikea’s highly anticipated Oxford Street store
30Apr2025
Morrisons becomes first UK retailer to deploy Simbe Tally robot as select stores trial the technology
28Apr2025
French retail chain Mr.Bricolage deploys Hanshow digital technology as it opens new store in Rouen
24Apr2025
Nude Project Opens Its First Store in Amsterdam Inspired by Stanley Kubrick
23Apr2025
DoorDash and Coco ramp up partnership with US sidewalk robot delivery launch following Wolt pilot
11Apr2025

© 2022 Global Retail Alliance | info@gra.world | Privacy Policy