Fixing the Food Waste Problem by Fixing Barcodes
The U.S. wastes a staggering 5 million tons of food every single year, with half of it being food that had expired labels. Texas McCombs Business School showed in a new study that using digital shelf labels to implement dynamic pricing significantly lowers waste.
“Everyone is better off when dynamic pricing is enabled,” he says. “There’s less food waste and less emissions from food ending up in landfills.”
Supermarkets in China have long adopted dynamic pricing – not only to reduce food waste but also to optimize sales across the full spectrum of their inventory.