Food tech startup Wasteless aims to combat food waste in supermarkets by automatically reducing the price of products before they spoil.
Food Waste Management with Dynamic Pricing | Automated Supermarkets
Lowering the price of perishable food before it goes bad is a key ingredient in supermarket strategy. You can exploit the system: late shopping on Saturdays, for example, can yield bargains when the store is closed on Sundays. Wasteless uses AI to dynamically and automatically vary prices to ensure that as many goods as possible are sold before they go bad. It’s a bit like airline seat pricing, but in reverse.
We’ve all seen sales on products with a short shelf life at the grocery store. The problem is that these discounts often come too late. No one is going to buy an avocado, even for $0.10, if it looks more like a lukewarm black and green avocado smoothie inside. If you drop prices too early, you risk making less money than you could and also running out of stock.
The time is ripe for a better approach.
