How Dynamic Pricing Can Help Reduce the Cost of Items in Grocery Stores
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- เผยแพร่เมื่อ 31 ม.ค. 2024
- Dynamic pricing helps reduce the cost of an item when it gets near its expiration date - here’s why more grocery stores should get on board with this pricing strategy (via itsthegarbagequeen)
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How Dynamic Pricing Can Help Reduce the Cost of Items in Grocery Stores
For the people saying that Kroger and Walmart do this: no they do not. This study was primarily about produce, which is not marked down in most stores. Pre-packaged food often is at both stores.
Kroger does. But not all of the produce.
@@ssmith543 they only mark down pre-packaged products. That's it. They do not mark down fresh produce. So no, Kroger does not do this. Pay attention.
Not to mention the fact that the stores do get some revenue when they sell the items at a reduced rate. As opposed to getting 0
She did mention that, but yes 👍
They should give to local farmers to lower the cost of meat
yes they do . Pig farmers feed use it all or in a food shelf
They won't lower costs, they'll increase profit margins. Still a decent suggestion.
I have a gleemer friend that picks up close to expired dates. He stops by every Monday and Thursday . Trader Joe's, nature's, we get so much organic vegan food and some meats, eggs, milk, vegetables, fruits. We share it! Dehydrated some, freeze-dry a lot ,can It would do whatever we can do to preserve it. Then we share some more. He has a few people he stops see before he takes it to the pig farmer. This Great Guy is 87 year's old. He's a Saint.
Back when he was growing up, there was nowhere near as much waste as there is now
@@LeeMuayThaiThe population was one quarter (¼!) of what it is today. And resources were already at risk. The human population is out of control! I'm 64 and the population was about ⅓ of today's when I was born.
Please sound the clarion call about the threat to the world of overpopulation.
There are about 7 MILLION more people a month on the planet and the rate is increasing exponentially. Please become concerned about overpopulation!
@@user-vn6mb8im8w 161 million people die a year.
It wouldn't hurt for the stores to several days before they drop the prices, to calculate anticipated sales, give the overage to charity organizations, and for them to receive tax cuts on those donations. People fed, and less waisted in the confines of the trash heap. Win, Win,Win. There are also composting possibilities that would create resale businesses to farmers and gardeners that would also create jobs within the community.
We have this system in Sweden and it reduces food waste significantly, when meat is reduced price due to a close expiration date I either cook it or put it in the freezer for another day.
Way to go San Diego. I do love my city.
The stoes in my area do this. I mean, it's just Wal-Mart and Kroger, but they do it. Why would anybody not?
Because it’s really complex to implement.
@@heuristic-cat it's cheaper to throw it away?
@@MelissaThompson432 sadly, probably not. Developing systems that can handle this is complex and they would have to test it. One study isn't enough and they didn't study profitability, they studied movement of product. Just to test the hypothesis in a few stores is a herculean effort. Plus they have multiple variables - price point, time before expiration, time of day, to decrease prices, etc. Perhaps AI can help with the A/B testing in the near future making it more palatable to test. Hopefully, this is evaluated long-term but it is a complex technology implementation.
@@heuristic-cat oh, come on! If it cost anything, Sam Walton's kids wouldn't do it.
@@MelissaThompson432 LOL, you really don't understand the technology that goes into something like this. Do you think that developers and software is free? They've just done an analysis that shows them that they will save money over time. That doesn't mean it's right for all businesses. It will depend on the systems they use.
We do this in the UK
Our local Piggly wiggly drop the price on produce and other things before they aspire. I could definitely get behind composting.
I live in an apartment and grow a lot of my own produce in containers. Organic. No co2 to transport it. And I don’t have to keep giving up my first born every time I want a tomato.
My grocery store does it, but the stuff belonged in the compost pile last week. Bags are leaking sticky wet. I almost gaged the other day walking past the reduced rack because of rotting potatoes.
Not good on their part. They need to know when to compost and when to reduce prices. Thats sick
We have this in Canada
Yep, the grocery near me does that.
I love vegetables
When she starts talking about “that one simple change,” that image in the background is from Australian supermarket Woolworths. Apparently some inquiry’s going to be done about it, & Coles jacking up their prices, although I doubt anything’ll be achieved.
Dynamic pricing doesn't change the fact that businesses have to put in more work and spend more money to change the price while consumers are getting a lower quality product with a shorter shelf life and possibly greater chance of making them sick.
This is standard practice at nearly all grocery stores where I am. For the small amount of labor from employees they're already paying they get more revenue from food that would have been thrown away, and as mentioned hauling it to landfills isn't free either. As for quality it can be a concern with meats, but if sold before sell by date it's usually fine. For things like baked goods and fruit/veg that's not an issue and it's a no brainer.
A lot of Wal Marts donate to food banks and homeless shelters.
Just described the free market 💀
Because California is a perfect poster state to copy from being 160 billion in debt, & one study is for sure enough data points to base a decision like that on for huge companies that do millions upon millions in sales a year. The thing about true science is that it must be able to be replicated by peers in the industry. Meaning not only would you need more than a single study done to even say it’s factually correct across the board, you would have to run it in different markets to account for the huge number of variables involved. You can’t choose to be smart…you can choose to not be a dumb smart person though..
Kroger does this and im so thankful for that LOL
Tanta gente passando fome😢😢😢 quanto desperdício 😢😢
Why dont they provide it to Feeding America to enable those who are hungry to eat in this country?
Japan already do this
We should agree on some common sense. I hope it trends.
If the vegetable consumes carbon monoxide when it's growing, would that not mean that when it is decomposing and letting off the same amount of carbon monoxide that it's carbon neutral ?
Wtf usa doesnt do this??? thats insane😂😂😂😂😂😂 this is normal here
After around 9pm everything meat and bread related goes -50-90%, everything else drops in price too when those items are nearing the legal limit of having to dump them.
It's illegal to throw food away In france
That's a stupid law.
They used to do Dynamic Pricing at Stater Bros. in Ca. once 8 o'clock hit chicken got really cheap, so everyone waited until 8Pm to buy there chicken. Dynamic pricing does not work just another liberal idea. Never listen to liberals.
Composting also creates greenhouse, gases!! methane, carbon dioxide just to name a few! Hello😂
Greed.
멋지다🎉
I can honestly say I don’t think about expired groceries and what happens to them.
😆😉
😅😅😅😅😅
People would just wait until its cheaper....
So you know I have a better solution, would you like to have the real solution, stop Americanisation.
Ask how the natives would eat and distribute agricultural products and sell them, in the country you are in.
Close down Marts, malls and companies to sell vegetables and fruits etc.
Those should not be sold beyond shops, and stop making useless senseless news and research in University as if humans have started eating only after America.
Can you leave my land
@@Socialist88 I would want it before hand for you. I'm not ready to leave 'your land'.
@@TheMatin1 so no youbhate natives gotchya
@@TheMatin1 ok when you leave take bracky with you
One company should not sell vegetables, fruit, milk, etc. It should be bought by a shopkeeper from a farm and sold to a customer.
Don't capitalise, but scale down the bearish structure which requires university to again trap the bear.