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"The real lowdown on markdowns: current practices and smart solutions"
Optimize markdown processes, reduce food waste, and grow margins.
Managing perishable inventory has never been more of a challenge. With a third of all food produced going to waste – at an estimated cost of $680bn per year, and contributing 8% of global greenhouse gas emissions – ESG regulation is rightly ramping up. And as increased visibility of the problem tarnishes reputations, supermarkets and grocers face increasing pressure to tackle this issue, and comply with evolving standards.
But, how do you meet customer demand for fresh produce availability, in-store and online around the clock, without writing off a large surplus?
Charitable donation schemes go a long way to appeasing a public increasingly focused on sustainability, but what’s really key are prevention and markdown. Yet, new research shows 12% of retailers aren’t leveraging expiry-based markdown at all, while only 5% in Europe and 10% in North America are optimising their perishable inventory with the new, dynamic discounting technology available. So, it’s not just in retailers’ bin bays where we see unconscionable waste – it’s in their bottom line, too.
It’s time to take control of waste. Check out the latest research findings in detail, and identify the approach that’s right for you. Download our eBook, fully stocked with insight, to find out:
- How our industry landscape is shifting towards e-commerce – squeezing margins
- Why, more than ever, fresh food is the key battleground for retailer differentiation
- Where traditional, inconsistent and ineffective, static markdown strategies are failing
- How dynamic markdown implementation – through solutions such as Retail Insight’s WasteInsight – leverages cognitive technology to optimise processes, reduce waste, and grow margins
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