Marks & Spencer (M&S) has talked up the waste reduction benefits it has experienced from a partnership with retail technology company Retail Insight.
The retailer has renewed its deal with Retail Insight for another three years, having started working with the business in 2021. Chris Thomas, head of product for store operations at M&S, called the past three years of work with the supplier, “incredibly impactful”.
No specific figures from the partnership were shared but the tie-up involves driving efficiencies in operations as well as supporting food waste reduction using Retail Insight’s cloud-based WasteInsight tool.
WasteInsight analyses foundational retail data and is able to utilise a machine learning model to provide dynamic markdown prices designed to encourage sales, which in turn helps reduce wastage.
“The WasteInsight solution has delivered significant waste reduction benefits over the past three years, as well as improved overall operational efficiency,” explained Thomas.
“We look forward to continuing to work with the team to help us meet our net zero targets.”
Kieran O’Brien, vice president of customer success for the EMEA region at Retail Insight, added: “Our close working relationship has been pivotal in enabling success and we will continue to drive down waste and enhance efficiency across their stores.”
According to the United Nations (UN), globally, around 13.2% of food produced is lost between harvest and retail, while an estimated 19% of total global food production is wasted in households, in the food service, and in retail all together.
The UN Environment Programme estimates food loss and waste account for 8-10% of annual global greenhouse gas emissions – nearly five times the total emissions from the aviation sector. It said food waste contributes to substantial biodiversity loss, using up almost a third of the world’s agricultural land.
Retailers have ramped up their efforts to avoid food waste in recent years, working with organisations such as Olio, Too Good To Go, Invafresh-owned Whywaste, Gander, and The Felix Project to ensure surplus food gets redistributed rather than thrown away.
Read more about tackling food waste on Green Retail World
[image credit: M&S]
