Progressive Grocer has highlighted ten “companies make it look easy to be green” and minimizing waste is an area retailers believe can help them address sustainability objectives.
The article references a “January survey of grocery executives conducted by Incisiv and Wynshop revealed that 71% of grocers regard sustainability as a key priority in 2023, while 76% also regard it as a C-level issue. The survey showed that waste reduction is grocers’ primary sustainability focus (86%), followed by energy efficiency (77%) and packaging improvement (66%)”.
The grocers recognized by Progressive Grocer were:
- Ahold Delhaize
- Giant Eagle
- Misfits Market
- Natural Grocers by Vitamin Cottage
- PCC Community Markets
- Whole Foods
Many different sustainability initiatives are highlighted: from the phasing out of single-use plastic bags to responsible sourcing; from updating fleets with more electric vehicles to reducing the amount of waste going to landfills; and much more.
On the waste reduction front, Planalytics has been working with retailers to optimize store replenishment by accounting for the demand swings created by changes in the weather. Weather-driven demand analytics reduce shrink/waste costs by 10-35% when replenishment volumes at the critical item/store/day level are adjusted for stores where unfavorable conditions will lead to reduced sales. You can learn more by reading Spoiler alert! Replenishing based on prior demand is shrinking your profit.
In addition to enhancing profitability by minimizing waste, better “weather smart” demand forecasts also enable companies to measure carbon emission reductions. As weather-driven demand metrics are used to optimize store-level inventories of perishable or fresh food categories we have seen the sharp decrease in waste corresponds to an average of over 4% in decreased emissions. Learn more by reading Rubbish! Who says grocers can’t pursue sustainability objectives profitably?