Your Co-op Boosts Sustainability Efforts with Innovative WasteInsight Feature - Prompted Markdown

In their ongoing pursuit of waste reduction, Your Co-op has harnessed the power of Retail Insight’s WasteInsight solution. 

The dynamic markdown approach to optimize pricing for end-of-life products has proven effective in maximizing sell-through, protecting margins, and notably, minimizing waste destined for disposal bins. This approach has also contributed to significant reductions in CO2 emissions.

Building on their strides, the common challenge of manual date checking, and handling occasional and seasonal waste spikes is their next strategic initiative. To address these areas for further waste reduction, Your Co-op is rolling out the groundbreaking feature within Retail Insight’s WasteInsight solution – Prompted Markdown. This innovative, yet practical feature automates the identification of products nearing expiry dates, alerting staff members to focus only on products where timely action is needed. Streamlining the markdown process and stock exit procedures, Prompted Markdown eliminates the need for time-consuming manual checks, improving the in-store teams’ productivity.

Retail Insight aims to help Your Co-op achieve its overarching goals to trade responsibly, reduce controllable food waste, and improve waste reduction across its operations. Having reduced their controllable food waste by over 20% in 2023 compared to 2019 levels, Your Co-op is determined to surpass this achievement. Through the introduction of Prompted Markdown to their WasteInsight solution, Your Co-op is poised to enhance their waste reduction efforts and contribute to a sustainable future.

As a Co-operative sustainability is at the heart of what we do. Working with Retail Insight, we're excited to be innovative in the area of waste reduction by exploring new opportunities in technology. We believe this development will not only help us reduce the amount of food going to landfill but will also give our colleagues more time to do the things they would rather be doing; spending time engaging with, and serving our customers and members.

Jordan Clement
Head of Supply Chain, Midcounties Co-op

Retail Insight’s own research estimates that UK retailers waste as much as £2.4 billion worth of food every year. Therefore, it is unsurprising that many retailers are investing in advanced technology solutions to reduce their wastage. WasteInsight, powered by our cognitive technology, not only helps increase sell-through while minimizing discarded items but also plays a pivotal role in helping retailers reduce their carbon footprint and elevate their sustainability strategies.

Your Co-op's strategic integration of WasteInsight reflects their commitment to environmental responsibility and operational efficiency. This innovative approach not only aligns with their sustainability targets but also positions them as a leader in utilizing technology to address pressing industry challenges. As they continue to pioneer advancements in waste reduction, their impact on the environment and communities is set to grow, solidifying their role as a conscientious consumer cooperative.

"We are delighted to be partnering with Your Co-op on our Prompted Markdown solution to improve their expiration date management processes and to gain labor efficiencies and process compliance. This is an exciting new stage for them and continues to build on the benefits they see from our Dynamic Markdown solution. "

Jessica Westwell
Client Manager, Retail Insight