Smart Markdowns lowers prices on products that are close to their expiration date. Credit: Whywaste/SPAR International.

Independent food retail chain SPAR International has expanded its collaboration with food waste reduction technology provider Whywaste to combat food waste.

The partners are introducing Smart Markdowns, a dynamic discounting system, across SPAR stores.

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Leveraging real-time data and AI-powered insights, the new system dynamically adjusts prices on products that are nearing the expiration date.

This improves sales for retailers while offering attractive discounts for customers.

In addition, the new approach will reduce food waste by ensuring that all items get sold before their expiry date.

SPAR International operation head Tom Rose said: “We are confident that technology is beneficial to drive positive food waste reduction. Our collaboration with Whywaste demonstrates how innovation and sustainability go hand in hand. The inclusion of Smart Markdowns is another tool that supports SPAR country organisations with their operational efficiency.”

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SPAR International and Whywaste launched the partnership in September 2022.

Using technology, the partnership reshapes established practices and aligns them with environmental consciousness and economic efficiency.

The digital date-checking solution will reduce food waste and improve operational efficiency.

Whywaste CEO Kristoffer Hagstedt said: “We are thrilled to take our partnership with SPAR International to the next level by introducing Smart Markdowns. This step embodies our collective vision of combating food waste while enhancing customer experiences.”

In September last year, SPAR International selected the retail media platform CitrusAd to improve the shopping experience for its online customers.