Lincolnshire Co-op significantly increases sales and reduces food waste with Retail Insight’s WasteInsight solution
2.6% Increase in product sell-through year-on-year
1.61% Reduction in giveaway and binned product
Challenges and goals
Sustainability and reducing food waste is a key focus for Lincolnshire Co-op and they work closely with Retail Insight to achieve this goal. The dynamic WasteInsight algorithm is used across all stores to drive food waste down and ensure clear processes across stores.
“Fresh produce presents many unique challenges compared to other parts of the grocery business. Shorter shelf life, seasonality, price elasticity, along with the diverse and complex growing seasons highlight the need for retailers like Lincolnshire Co-op to adopt food waste reduction software that tackles waste at all points in the store.”
Client Director, Retail Insight
Partnership and solution
Since 2021, Retail Insight and Lincolnshire Co-op have worked together to waste less and sell more using the dynamic pricing software. The platform uses a variety of factors to achieve the optimal price for each product, in every store, to ultimately drive performance and reduce waste.
Through the partnership with Retail Insight and the adoption of the WasteInsight platform, Lincolnshire Co-op has recorded significant results across 2021:
Product sell-through has increased by 2.6% versus the previous year
Product giveaways and waste has reduced by 1.61% versus the previous year
Additionally, a labor-saving of 30 minutes per store, per day, has been realized, and a new compliance report now highlights products going straight to waste with no reduction.
Craig AdamsonGeneral Manager, Lincolnshire Co‑op
WasteInsight is driven by cognitive technology and gives our team the benefit of a leading-edge system, combining machine learning with advanced analytics.
The platform enables us to deliver significant waste savings, which is important to us as we want to look after our local environment. It also helps us provide value to our customers and maximize our sales.