Environmental and ethical concerns
In addition to the environmental and ethical concerns, for retailers there is also a financial concern, with waste costing on average between 3% and 5% of sales, rising above 10% in some cases.
3-5% Average cose of waste to sales
Addressing the challenge of markdown
Retail Insight, the retail data experts, reduce customers’ overall exposure to waste through addressing the challenge of markdown.
For example, Retail Insight has been working with Walmart since April 2017 on multiple fresh food departments across its US store network. The time-to-value has been very fast, with Walmart experiencing an immediate year-on-year reduction in waste as soon as the project began.
The RI system integrates so seamlessly with Walmart that there are no additional steps, stages or processes for employees to follow.