Data-driven optimal dynamic pricing strategy for reducing perishable food waste at retailers

A data-driven decision support system with smart packaging in grocery store supply chains during outbreaks

“…Based on the information provided by such as TTI integrated smart packaging as to whether the actual remaining shelf life, in other words, the freshness of the perishable product is expected to be shorter than the expected ones, grocery retail stores can decide to reallocate products to discounters which can accept them at lower purchasing price [72]. In addition, grocery retail stores can also use a dynamic pricing strategy and decrease perishable products' unit selling price based on the dynamic expiry date [9]. Such discounts can increase the volume of products sold, reduce losses due to shrinkage and further reduce food waste [73].…”

“…In particular, grocery store supply chains were massively disrupted during the COVID-19 pandemic, resulting in short-term supply/demand imbalances (stockpile or stock out conditions) [3], delays in the replenishment of food shelves (empty and sparse shelves) [4], spoilage of perishables, increasing food waste [5][6][7] and growing consumers' concerns about food quality and safety [1]. In addition, the online retail boom triggered by the crisis has also created a significant disruption in shopping and consumption habits [8], especially among the consumers who had been in the practice of buying loose until now [9]. In recent years, scholars and practitioners have focused on food waste reduction in the retail sector [10].…”

Emerging trends in the agri-food sector: Digitalisation and shift to plant-based diets

“…Although the growth rates in the online food trade have experienced a strong upswing since the start of the pandemic, the spatial diffusion of online food grocery was found to be still limited. A recent study investigated the potential of applying advanced data-driven strategies, such as BD and real-time IoT sensors to reduce food waste at the retail level ( Kayikci et al, 2022 ).…”

The Multimodal Emotion Information Analysis of E-Commerce Online Pricing in Electronic Word of Mouth

“…Kayikci et al (2022) proposed a dynamic pricing model. The model used real-time Internet of Things sensor data to contribute significantly to merchants' dynamic pricing at different stages of the sales season (Kayikci et al, 2022).…”