Our mission is to provide powerful solutions to maintain stock level high and food waste low.
One of retailers greatest challenges is food waste reduction mostly when it comes to fresh foods. It is not only essential to maintain a healthy profit margin, but also answers ethical and environmental challenges, promoting sustainable reputation. Awareness and acknowledgment to the subject is growing, raising evermore the challenge.
Fighting food waste in groceries is a strategic business decision that can lead to a better profitability, and a higher market share. AI driven inventory management and accurate sales forecast can reduce significantly the annual loss of expired and spoiled products, but this not all. Groceries will always hold extra stock to fill their shelves and better serve their clients. Algoretail enables price/promotion data-driven decision making in compliance to stock availability and product demand.
Algoretail cuts food waste at the source bringing deals on near-expired products to its minimum.
Over 30% of food is lost or wasted each year at all stages of the food system (greenly .Institute; 2023), estimated at $230 billion worth (BCG, 2022).
Approximately 17% of the worlds food end as waste, enabling to feed 1.26 billion hungry people yearly (SOFI, 2022).
Fruits, vegetables and meat present more than 70% of the overall food waste in retail, becoming the major target at mitigation of food waste (Journal of retailing, 2022).
Learn more how Algoretail reduce food depreciation from our case studies