Scotmid Co-operative
WasteInsight dynamic markdowns for expiring food
Scotmid's markdown system saved 42.7 tonnes of food waste, Retail Insight reported
Problem
Scotmid wanted to sell more food before it expired and reduce the amount sent to landfill. Its existing markdown process left room to improve price reductions.
Approach
Scotmid partnered with Retail Insight in 2021 and introduced WasteInsight. The AI system used a dynamic model to recommend price reductions on expiring goods. Scotmid extended the partnership in 2024 after reporting improved sell-through.
Results
Takeaway
The project changed how expiring stock was priced within an existing store process. The reported sell-through increase did not establish how much additional profit the markdowns produced.
Categories
- Industry
- Retail and e-commerce
- Business function
- Production and quality
- Innovation type
- Process innovation
- AI technology
- Predictive analytics and MLOptimization
- Adoption
- Vendor solution
- Evidence
- Vendor case study
Sources
Source summaries
Scotmid extended its partnership with Retail Insight after introducing dynamic markdowns for expiring goods. Retail Insight reported 42.7 tonnes of food waste savings and a 1.83% year-on-year increase in product sell-through.
Full details are in the original sources.