Wasteless is helping to slash food waste at supermarkets by allowing retailers to offer customers AI-powered dynamic pricing based on the expiry dates of perishable goods.
Founded in 2017, the Israeli tech company has now reached a significant milestone with the launch of a partnership with Dutch supermarket chain Hoogvliet, which will put the dynamic pricing system into action and help to optimise mark down prices at over 70 stores across The Netherlands. The announcement comes following a 2021 collaboration with German food tech hub NX-Food.
The company’s dynamic pricing technology offers a three-pronged solution, benefitting retailers, consumers and the planet by improving profit margins, saving customers money and reducing the environmental impact of food waste.
With EU supermarkets responsible for 7% of all food waste, leading to the production of 15 million tonnes of carbon emissions, Wasteless is looking to offer practical solutions to a growing global issue that costs supermarkets up to 4% of revenues.
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