We are thrilled to announce the extension of our contract with Central Co-op for an additional three years.
Central Co-op is one of the largest independent retail co-operative societies in the UK, with a heritage stretching back over 180 years. With over 450 trading outlets, a family of around 7,500 colleagues, and more than 330,000 regular trading members, we’re always looking to make a difference.
Since 2021, we have been working with the team at Central Co-op to tackle food waste through our AI-driven platform, WasteInsight. Focussing on dynamic markdowns, we have been able to drastically reduce the volume of food that is being binned, by applying a markdown price designed to increase sell-through.
"We are delighted to continue our partnership with Central Co-op", said Jessica Westwell, Customer Success Manager at Retail Insight. Their commitment to waste reduction and operational excellence is truly inspiring, and it's been great to work with the team to increase compliance and drive performance through our solution.'
As part of the contract extension, Central Co-op will also start to implement our Prompted Markdown feature, as part of WasteInsight. Enabling better expiration management, this new feature will allow the team to identify products near expiry, allowing Central Co-op to take prompt action to minimize waste and maximize profit.
This feature works hand in hand with dynamic markdowns and enables Central Co-op to take a data driven approach to more of their waste journey, further improving operational efficiency, minimizing excessive markdowns and positively impacting their sustainability efforts.
"It has been a pleasure working with Retail Insight. WasteInsight has revolutionised our approach to markdowns and waste reduction, allowing us to optimise our operations and improve sustainability," said Ben Grove, Senior Operational Excellence Manager at Central Co-op. We are excited to continue this journey and experience the additional benefits that the prompted markdown feature will bring to the business."
At Retail Insight, we are committed to continuously improving our solutions to deliver the best results for our clients. Our partnership with Central Co-op has provided us with valuable insights and feedback that have enabled us to make significant performance enhancements.
If you would like to find out more about our WasteInsight solution and how Dynamic or Prompted Markdowns can help your business, please click here.