OnDemand WTP Pricing Research

Dynamic pricing system promises less food waste | Springwise

The Wasteless platform combines radio frequency identification (RFID), a dynamic pricing engine (which considers more than 40 separate factors when calculating price), and electronic shelf labeling. The system allows stores to automatically change prices on any item, in order to offer customers a chance to buy products close to their expiration date for a reduced price. The system will also alert stores to when a product is about to run out, allowing just in time stock ordering that reduced the time products sit on shelves. Explains Wasteless founder and COO Ben Biron, “Dynamic pricing is something used daily when booking a flight, a hotel, or an Uber, and there is no reason why our groceries should be different … [this] means lower prices for the consumer, more revenue for the supermarket, and of course, it saves our planet by significantly reducing food waste at the retail level, which accounts for 40 percent of the world’s total food waste.”

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Dynamic pricing system promises less food waste | Springwise.