WasteInsight

Waste less with our dynamic markdown solution

A dynamic approach that drives maximum sell-through and profit on your expiring products.

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Reduce your waste bills with smarter pricing

Food waste is one of the biggest challenges for retailers. One-third of all food is wasted, largely due to overstocked shelves and mismanaged supermarket inventory.

Manual and rudimentary markdown processes cause many product throws and disposals at great cost. Identification of items at risk of being wasted, compliance to price change processes, and dynamic store-based pricing also cause retailers to lose sales on products with days of life left.

Our dynamic markdown solution can help. It uses a comprehensive data-driven algorithm to analyze a wide range of data points – from product type to seasonality – then calculates a product’s optimal discount price. This reduces your waste bill by maximizing sell-through and profit while minimizing the amount thrown and disposed.

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10%

Average food waste cost reduction

Optimized prices

Delivered from advanced decision engine

A simple way to manage waste

We have created our solution to ensure it can hit the ground running on day one. Pick up a handset and scan your product and our algorithm gives you the best markdown price – delivered instantly. We can even identify which items are most at risk of being wasted.

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Straightforward setup

Integrate with the RI app directly or connect your current app to our API

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Easy to use

Our solution is highly intuitive and follows a simple process so anyone can use it

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Minimize disruption

Our Android-based application fits seamlessly alongside your current processes

Refine and develop with ongoing support

The only way to ensure optimal results from your markdown process is to monitor performance over time. We provide ongoing support from product experts, to deliver continuous refinement and ensure our algorithm is as up to date and accurate as possible.

The COVID-19 pandemic shocked the food retail market and had a huge impact on retailers’ waste. To tackle this, we stood alongside our clients and we pivoted our algorithm to ensure they mitigated this crisis and continued to deliver optimal results.

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Update model parameters

Our algorithm is assessed and refined continuously based on the latest data, to ensure you have optimal markdown prices and process insights

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Leverage actionable insights

Identify what’s selling through and what’s not to reduce waste and maximize profits

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Avoid future issues

Insights are delivered directly to head office, so you can measure forecasts and make ranging decisions with confidence

Increase visibility to improve markdown compliance

Managing your waste cost is impossible if you do not have full visibility of your markdown process. Our solution tells you exactly when, where, and who is performing markdown activities, so you have the information at your disposal to drive store compliance.

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Increase performance gains

Ensure compliance every day with accurate, data-driven reports on areas like the cost of labor and savings bill

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Improve controls

Gain full visibility into your markdown process across individual stores, regions, and head office

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Prevent fraud

See when markdown activity occurs and on what products to prevent fraud

Gross profit improvement

$42 million year-1 gross profit improvement

One of Asia’s biggest grocery retailers delivered a significant gross profit improvement after updating its product markdown process using our solution.

  • c.90% store compliance to markdown
  • 35% ahead of 2020 waste savings target

Refine your markdown process

Discover how WasteInsight can reduce your waste bills and improve your profit margins.