Dynamic pricing is a practice that has been used in industries such as airlines and hotels for years to generate more revenue. Dynamic pricing is now being explored by grocery stores as a way to alleviate food waste. Imagine you see two loaves of bread that are identical, but one is a day older so it costs half the price. This is an example of the way dynamic pricing could be used in grocery stores. It is predicted that dynamic pricing could cut back on food waste by 21% and even increase profit. This does come with cons mostly because it will be tricky to implement, however the rise of ai technology could help.
How Dynamic Pricing Can Cut Back Food Waste
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