Wasteless

Profile

Wasteless  offers  a  turnkey  solution  optimising  food  price  markdowns  based  on  expiry  dates.  Retailers  sell  products  with  a  limited  expiration  date,  marked  off along the demand curve. Selling food, rather than wasting it, lifts profits significantly.

A salad with an expiration date of May 15 shouldn’t necessarily  be  priced  the  same  as  one  with  May  21  as  the  date.  Boosting  sell  through  of  the  shortest  expiration date, allows retailers to apply lower markdowns    than    current    arbitrary    food    waste    measures.

Competences & Capabilities

85% of retail food waste is caused by fresh products running out of date while the cost price of retail food waste stands at more than double retail’s total fresh food profits. Because expiration date waste is a data problem we developed a dynamic pricing algorithm solution.

With a date enabled bar code, Wasteless’ Pricing Engine fits into the existing Retail Operations and Supply Chain practices.

Retailers can reward sustainable buying behavior, as they recapture lost revenues.