A common challenge with product markdown is finding the right balance between offering a discount that is attractive enough to entice customers to purchase, while also ensuring that the product markdown is not so steep that it significantly impacts profitability. Product markdown is a strategy to reduce food waste by offering products that are approaching their expiration dates at a discounted price. However, it is important to carefully manage the product markdown process to ensure that products are still safe for consumption and that the markdown does not result in excess inventory. Bixilon provides in-store management solutions combined with technological leaps.
The UN reports that globally, 900 million tons of food is wasted each year. Food retailers, such as supermarkets and grocers, are facing mounting pressure from consumers to take responsibility for reducing food waste due to the increasing importance of Environmental, Social, and Governance (ESG) initiatives.
Supermarkets face an ongoing challenge in managing perishable inventory due to customer demand for fresh food and a wide selection. Seasonal changes and shifts in buying habits can result in surplus supplies and food waste. Retailers take various measures to address this issue, including donating to charity. However, the most common first step is to offer a product markdown or an expiration date-based discount to encourage customers to purchase goods and minimize disposal while maintaining a profit margin.
Product Markdown Innovation
Perishable items like baked goods, dairy, fruits, and vegetables are usually marked down towards the end of the day. Supermarkets use brightly colored labels with barcodes and pricing information to quickly identify these items and make it easy for customers to scan and see the product markdown price.
Retailers are using handheld PDAs and mobile printers to apply barcode labels on perishable items on the go. These devices link directly to the supermarket’s inventory system via the cloud, allowing multiple users to markdown products with a label featuring the price and barcode. This kind of technology improves efficiency and allows customers to quickly scan the barcode at the checkout.
BIXOLON’s XM7-20 premium mobile printer is designed to work with various PDA manufacturers and support multiple software platforms, making it an ideal solution for product labeling and markdowns.
Key Features:
- 2-inch (58 mm) Liner and Linerless Mobile Label Printer
- Simultaneously connects both Bluetooth 5.0 (MFi certified) and Dual-band WLAN (2.4 GHz and 5 GHz)
- Compatibility with major operations including Android™, iOS™ and Windows®
- Smart battery providing visibility over status and life cycle
- Embedded peeler and paper guide
- Direct printing from SAP® Smart Forms and compatibility with a range of label editing applications including BIXOLON’s Label Artist™ and BarTender®
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