Curbing food waste for business and community benefits
Supermarkets are continuing to shrink food waste with community-based initiatives. More and more retailers are adopting creative practices such as recycling, charitable donations, less ambiguous labels, etc. While these habits have had a positive impact on the issue of food waste, we need to keep the momentum going.
Though there are financial benefits to reducing food waste, there is added complexity. There are separate handling methods to up-cycling and transitioning the food from off the shelves to their next destination. Moreover current technology and other sustainable methods are costly.
Although supermarkets would save money by reducing waste, does it make sense to spend more on the new technology and innovative practices? Would these other initiatives create a need for more jobs within the community?
As the study from Champions 12.3 shows, there is a financial upside to effectively diverting and managing food waste. Whether it’s management practices that keep food on shelves longer, efficiencies that get products to stores quicker, supplier relationships to help make products better, or innovations that do all of the above, there are many new and emerging approaches to tackling the problem of food waste. Expect retailers to continue moving the dial on this issue in the coming years, especially if there