Wasteless solved markdowns and boosted the bottom line, rolling it's AI markdown technology at one of the leading retailers in the Netherlands.
Hoogvliet’s store operations required an immediate solution for curtailing waste and markdown costs by 30% and 50%, respectively– a major financial determinant for taking sustainable actions. This is where Wasteless’ AI-driven markdown technology proved effective.
Wasteless deployed its Store Approach to rapidly introduce markdowns without any IT integrations. This approach includes scanning a product, selecting expiration dates, and printing smart labels with optimal discounts that are recognized at checkout using EAN128 standard barcodes.
Installed and operational in just four days, the Wasteless solution was quickly endorsed by staff and consumers alike. Wasteless has successfully optimized the retailer’s barcodes for all perishables, enabling real-time monitoring of a product's soon-to-expire shelf life. If and when needed, the product's price can be slightly reduced to make it more attractive to consumers. This can be performed in several increments as the expiration date draws near.
Thus, consumers no longer need to rummage for fresher products at the back of the shelf, all the while receiving cash- saving incentives for greener shopping. The Wasteless' algorithm automatically updates prices on the shelf both in Hoogvliet’s store operations app and at checkout.
