Whywaste gearing up to reduce food waste in Portugal

The team behind Whywaste. Image credit: Press.

Swedish startup Whywaste is preparing to enter Portuguese supermarkets, aiming to reduce their food waste by 75 percent.

Founded in 2014, Whywaste provides a digital solution to help retailers monitor the shelf life of their products. Its AI-based technology can identify products that are in their critical dates and help re-determine their prices based on their demands and seasonalities.

“The objective is to evaluate these variables and adjust the price, solving two challenges: convincing the customer that this is a good price, without destroying the margin or the retailer’s image”, WhyWaste Brazil general manager Ricardo Salazar said.

Whywaste currently operates in 18 countries, including the United Kingdom, France, New Zealand and Japan. Its entrance to Portugal will be marked by establishing an office in its capital, Lisbon.

Data has shown that Portugal wastes around a million tonnes of food annually, meaning that a Portuguese throws away 100 kilograms of food each year. Salazar said while everyone should contribute to cutting this number, retailers must set an example.

Looking for partnerships

According to Salazar, Portuguese supermarkets have utilised digital monitoring systems, but the practice lacks learning capacity. He explained that Whywaste offers added value to these retailers using big data and AI in areas untouched by these technologies.

To ensure a smooth entry into the Portuguese market, Whywaste aims to establish a partnership with at least one food retailer in Portugal. The Swedish startup is adamant that its tech can increase Portuguese supermarkets’ tight net margins, which range only from one to four percent.

In addition to maximising returns for retailers, Whywaste can help them optimise their use of human resources. For example, Salazar said the startup had helped a Brazilian store to cut down hours spent on managing expiry dates from 12 hours to just over an hour.

Once Whywaste secures a firm footing in Portugal, it plans to expand to Portuguese-speaking African Countries (PALOP). The startup has a team of 40 professionals that will work in offices across four countries to realise this plan.

Techarenan News/Monok

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