This Startup Wants to Bring Dynamic Pricing to Supermarkets

This Startup Wants to Bring Dynamic Pricing to Supermarkets

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This Startup Wants to Bring Dynamic Pricing to Supermarkets

Wasteless is a startup that wants groceries to change price based on demand

The success of Uber, online flight booking websites and other on-demand services rely on one crucial feature: the ability to change prices instantly. Startup Wasteless is planning to bring the same technology to supermarkets.

Using an organized band of RFID chips, digital shelf labeling, and 43 pricing variables, Wasteless can save both consumers and retailers from waste. For example, the same products can have different prices depending on their sell-by date. Those closer to expiry can be significantly marked down instead of dumped while giving consumers a better option. Wasteless also offers a high-end inventory system that operates shelf-level. With the technology, supermarkets will be less likely to run out of in-demand goods.

The best thing about the technology is that it has the potential to shrink the waste supermarkets are infamous for. The mismatch between supply, demand, pricing and a whole host of other facts lead many experts to suggest as much as half of food in the US ends up in landfills.

Wasteless

+Food

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+technology

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August 30, 2017 at 05:02AM