Every year, supermarkets and stores alike throw out tons of expired food which they were unable to sell out. Last year, Tesco, Britain’s biggest retailer revealed it wasted an incredible over 30,000 tons of food in the first six months of 2012 alone.
Food sold in supermarkets have a definite shelf life, and most consumers pick out those that have the longest time to expiry date while doing their shopping. In other words, food that are getting closer to their expiry dates have a decreasing probability of being sold - and this fuels wastage.
Round 2 aims to provide store owners with a platform to put their expiring goods on sale. By reducing the prices of such goods when they get closer to their expiry dates, consumers will be enticed to make a purchase, leading to a win-win situation for both sellers and consumers. This can then help with the food wastage problem that stores face.