Sell more, waste less with dynamic pricing | Ep. #50

<p>Food wastes around the world are directly linked to consumer behaviour.</p> <p>For a household, the reason for their food waste could be;</p> <p>1. Food gone past its best-before date;</p> <p>2. Maybe the Food is not looking good or smelling bad;</p> <p>3. Some maybe Cooking excessive quantities of food;</p> <p>4. Some others maybe into Impulsive food purchases especially during special offers;</p> <p>5. Or simply you are just Trying to buy more fresh food;</p> <p>All these are behavioural aspects that cause major household food waste lead to ;</p> <p>a) Food-demand unpredictability, which generates overstock situations at retail outlets;</p> <p>b) Consumers prefer well-stocked shelf at any store;</p> <p>c) Retailers are unable to comply with a first-in-first-out sell-out process due to customer preference towards freshness and there is no incentive to buy products expiring sooner;</p> <p>Does all this make me wonder if there is an efficient solution to address this problem?</p> <p>Yes there is and they are known as <a href="https://www.wasteless.com/">Wasteless</a>.</p> <p><a href="https://www.wasteless.com/">Wasteless</a> is helping supermarkets and online grocery stores recapture the full value of their perishable products and reduce food waste through AI-powered dynamic pricing. Now I really wanted to see this in action and from what I read is that retail stores are able to reduce waste by around 39% and increase top line revenues by 6%.</p> <p>This is a win-win-win-win situation! Poocho kaise?</p> <ul> <li>With this the retailer is able to increase revenues!<br> </li> <li>By selling products instead of throwing them away and decreasing average markdowns, retailers can significantly boost net margin.<br> </li> <li>Improve fresh product rotation and optimize shelf space productivity for slow selling products<br> </li> <li>And thereby improved Shopping experience!</li> </ul> <p>Tune into the episode to hear more about <a href="https://www.wasteless.com/">Wasteless</a>.</p> <p>If you liked this episode