Dynamic pricing to help grocery stores in US waste less food

Signal of change / Dynamic pricing to help grocery stores in US waste less food

By Marta Melvin / 10 Aug 2017

The Wasteless real-time tracking solution for grocery stores, which offers customers variable pricing based on a product’s expiration date. This new tech solution promises to recapture one billion dollars worth of lost grocery sales every week. So, a carton of eggs that is set to expire at the end of the week will cost you less than the carton that has until the end of the month. This, Wasteless says, will help supermarkets sell more and waste less. The Wasteless platform, a so-called “Internet of Groceries”, constantly monitors stock levels combining item-level RFID sensing, a dynamic pricing engine (which considers 43 factors including supply, demand, location, holidays, and time when calculating a price), and Electronic Shelf Labeling.

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.

 

Wasteless | Introducing, The Internet of Groceries

Wasteless is the world's first machine learning and real-time tracking solution for grocery stores. Wasteless offers customers dynamic pricing based on product expiration date.



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