A first-of-its-kind study from the University of Florida provides practical solutions that retailers can implement today to make a meaningful difference in both their bottom line and their environmental impact.
New research from the University of Florida suggests that supermarkets could significantly reduce food waste while increasing their profits through smarter product display and pricing strategies. The study found that retailers could cut food waste by more than 20% while increasing profits by 6% on average.
“It’s rare to find solutions that benefit both business and the environment, but this appears to be one of them,” said Amy Pan, study co-author and associate professor at the UF Warrington College of Business. “Our findings highlight that strategically selling older products alongside fresh ones can simultaneously boost profits and minimize waste by leveraging the right product display, discounting rate and discount time.”
To learn more about this research, please visit the University of Florida.
