Dynamic pricing could cut food wastage

ZBD Displays claims retailers could add up to GBP 40 million a year to their bottom line by cutting food wastage by as little as 2%.

ZBD Displays claims retailers could add up to GBP 40 million a year to their bottom line by cutting food wastage by as little as 2%.

UK food retailers are wasting over 500,000 tonnes or up to GBP 16 billion of food a year - thrown out when it reaches its sell by date or hour.

ZBD believes offering better discounts and special offers to shoppers and improving communication of price changes could reduce food wastage significantly.

However, the company warns that few supermarkets are equipped to quickly update pricing at the point of purchase, leaving consumers in the dark about potential price savings.

Rather than relying on slow and admin-intensive paper-based pricing, dynamic pricing systems, which update automatically, will be key to alerting customers to special offers and discounts and increasing sales of food approaching its best before date/hour.

ZBD believes this will not only help to cut wastage but can reduce staff and printing costs at the same time.

"Communication with customers is key if you want to shift food that is approaching the end of its shelf life", explained David Rogers, Vice-President of Sales and Marketing at ZBD.

"Alerting shoppers to special offers and discounts quickly through the use of electronic media on the shop floor is vital if supermarkets and other food retailers are to cut the tonnes of food wasted each day in the UK".

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