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Episode Transcription
From Washington State University Extension, this is Food Safety in a Minute.
Did you know 119 billion pounds of food is wasted each year at grocery stores? Grocers are considering a pricing strategy for perishable foods called Dynamic Pricing. Perishable products would be gradually reduced the longer they were on shelves. According to a study conducted at the Rady School of Management, dynamic pricing could lower food costs by 21%.
Imagine two avocado displays: one with ready-to-eat priced 50% less than those needing a week to ripen. Dynamic Pricing strategy could reduce grocery store food waste but requires consumers to adapt their shopping habits and promptly use or preserve discounted perishables to prevent food waste at home. For many, this may prove challenging. Food habits, including approaches to food preparation are difficult to change.
I’m Susie Craig, thanks for listening.
Resources
Rodriguez, Katie. Supermarket Food Waste is a Big Problem. Are Strategic Price Cuts the Solution? Civil
Eats. 9/11/23. Accessed online 9/12/23.
Sanders, Robert Evan. Dynamic Pricing and Organic Waste Bans: A Study of Grocery Retailers’ Incentives
to Reduce Food Waste. SSRN. 5/31/23. Accessed online 9/12/23.