Food Waste

Nowadays there is something for everything, so no need to fret when looking for a solution. Take food for an example, waste is a concerning matter when we consider there are millions of people starving around the world. Food waste is also costly!

Anti-food waste app Gander has been named the winner of the Mannin Hotel Award for technology innovation of the year at this month’s awards for excellence. The “revolutionary” app provides retailers and consumers with an easy solution to reducing food waste amid the cost-of-living crisis, by delivering real time information on reduced stock.

To date, the Gander app has saved almost 20 million food items from becoming waste and 20,947 tons of CO2 from being emitted into the environment across 506 participating stores. Its proprietary Ganderlytics analytics platform also provides retailers with the data and technology needed to alleviate issues with reductions, wastage, and compliance.

Supported by Isle of Man Newspapers, the Technology Innovation of the Year award recognizes businesses that are empowering and enabling people to thrive in a digital world.

Open to organisations operating across all sectors, the award is given to the company which can best demonstrate use of technology to solve a business challenge such as usability, cost-effectiveness and strong growth opportunity.

“It is an honour for Gander to be recognised as Technology Innovation of the Year at this year’s Awards for Excellence in its native Isle of Man,” Gander head of customer engagement and business development Stacey Williams said.

“Gander is a world first. Our revolutionary technology helps retailers to improve their sell-through rates by up to 95 per cent, their markdown loss by 38 per cent, their instore compliance by 40 per cent and their shrinkage by 24 per cent.

“Our Ganderlytics analytics platform also tells us that Gander shoppers on average save 56 per cent on their food shop. We hope to continue helping retailers and consumers alike to play a significant part in reducing food waste.”

Isle of Man Newspapers deputy chairman Trudi Williamson MBE added: “The Awards for Excellence showcases the brightest and the best of the Manx community and shines a spotlight on impressive businesses like Gander.”

“The Isle of Man already punches above its weight in many areas including sport, and it’s fantastic to see us punching above our weight on a global scale for innovation and entrepreneurship.”

More than 600 local companies, charities, individuals and public sector teams have been recognised since the awards began.

Take care!

Prof. Carl Boniface

Source: ChargedRetail.co.uk

Vocabulary builder:

Fret (v) = worry, fuss, vex, agonize, trouble, bother, hassle, calm down

Sell-through rates = A sell-through rate (STR) is the amount of inventory sold within the month (or another time period) as a percentage of the amount of inventory received from a manufacturer(s) during the same period. In terms of performance, STR is the measurement of monthly sales against a given target.

markdown = Retail markdown means a reduction or devaluation in the initially planned price of the product. It's commonly applied to a product or products which are not selling as fast as necessary, and you want to increase the momentum of sales.

Instore compliance = A comprehensive store compliance audit will reveal where in-store practices don't meet company standards and empower you to correct problems quickly. Increasingly, retailers are looking for guidance from professionals who understand their businesses.