Grocery stores throw away a ton of food every year.
20% of all fresh produce, one of the highest gross-margin making categories, is simply wasted.
How can AI help?
We know that freshness of food declines over time and results in lower demand at the same price.
What if we factor that into the price of food.
What if we build a dynamic pricing model based on freshness?
RapidPricer, a retail automation startup, leverages deep learning and computer vision for lowering prices, as freshness of goods decline, in real-time.
This dynamic discounting not only helps the poor afford food but also boost sales and reduce storage costs for grocery stores.
Overall, this tech reduces food waste.