Global oil and gas company and gas station retailer, BPhas renewed its partnership with Retail Outlookthe leading provider of in-store fulfillment software, for a further three years in the UK, as it continues to reduce food waste across its stores while improving operational efficiency.
BP offers high-quality fuel, food and drink to drivers and shoppers across the UK and has more than 300 convenience stores as part of its partnership with M&S Food. BP’s ambition to grow its convenience store business, with the aim of becoming the first choice for customers on the road, is underpinned by the improvements it is making to its offering and network.
Since partnering with Retail Insight in 2019, BP has used Retail Insight’s AI-powered solution, WasteInsight, to deliver customer value and satisfaction by offering dynamic discounts on products close to expiration, providing reduced prices to customers. customers.
A cloud-based software solution, WasteInsight enables retailers to monitor food waste through actionable, data-driven insights that underpin their entire businesses’ waste management. By analyzing basic data from retailers, the solution applies a machine learning (ML) model to deliver dynamic discount pricing that encourages sales and reduces waste. In addition to allowing dynamic discounts, WasteInsight also addresses expiration management, delivers more efficient donations to charities, and drives greater forecasting accuracy, allowing retailers to sell more and waste less.
Hannah Munns, BP UK commercial director, commented: “The WasteThe Insight solution has delivered impressive results in all of our installations. Implementing dynamic markdown has not only reduced waste, but has also significantly improved our sales. “We look forward to seeing continued improvements in the years to come.”
Kieran O’Brien, Vice President of Customer Success EMEA at Retail Insight, added: “We are delighted to be able to extend our relationship with BP for a further three years. It is always gratifying to see the benefits our dynamic markdown solution can bring and we look forward to continuing improving the results of Waste“Prospects for BP in the next three years. Together, we will continue to set new benchmarks in waste reduction and operational efficiency.”